Petro River Oil Corporation · OTC:PTRC
Petro River Oil — Investor Presentation (June 2018)
22 slides from Petro River Oil's investor presentation, June 2018
Slide 1: Conventional E&P Explorers Utilizing Modern Technology
1 CORPORATE PRESENTATION JUNE 2018 OTCBB: PTRC WWW.PETRORIVEROIL.COM Conventional E&P Explorers Utilizing Modern Technology
Slide 2: Forward Looking Statements
2 Petro River Oil focuses on high rate-of-return assets by utilizing modern 3D seismic imaging to discover overlooked oil reserves. Stock Symbol Price (5/1/2018) Shares OTCBB: $20.3Outstanding $20.25 $4.5 $1.18 PTRC MM MM MM Stock Stock Price Shares Market Symbol (6/25/2018) Outstanding Capitalizati
Slide 3: 100% conventional. Profitable at $30 Oil.
3 100% conventional. Profitable at $30 Oil. Low F&D and No horizontal or OPEX costs shale drilling. < $10 BOE Significant Reduce development & Exploration Risk exploration with 3D Seismic structures
Slide 4: Scalable, repeatable drilling programs in shallow, proven basins
4 We pursue scalable, repeatable and lucrative drilling programs in shallow, proven oil and gas basins. 01 Acquire 02 Explore 03 Develop
Slide 5: Focus, Robust & Scaled Growth Profile, Attractive Well Economics
5 Focus Proven shallow basins that have produced more than 200MM barrels of oil. Financial Strength & Flexibility More than $50MM in capital has been Stacked and multi-zone prospects identified with modern 3D seismic invested in Petro River Oil. technology. Initial 10-well drilling program has resul
Slide 6: Current Reserves
6 CURRENT RESERVES(1) Project Location Acreage Working Interest Wells BOE/D Reserves W. Blackland Osage County, OK 2,362 75% 10 227 1,172.6 Mboe Net Oil (Mbbls) Net Gas (MMcf) Combined (Mboe) Proved, Developed, Producing Reserves 299.0 190.3 331.8 Proved, Developed, Behind-Pipe Reserves 46.4 38.9 53
Slide 7: Development and Exploration Projects
7 DEVELOPMENT PROJECTS Project Location Acreage Working Interest Wells EURs/Well N/A N. Blackland Osage County, OK 200 75% 9 78,154 EXPLORATION PROJECTS Project Location Acreage Working Interest Wells EURs/Well N/A Arsaga Osage County, OK [2000] 2000 75% 10 100 50,761 Section 13 Osage County, OK [30
Slide 8: Strategic partnership with Horizon Energy Partners
8 Petro River has a 14.52% equity interest in a strategic partnership with Horizon Energy Partners, LLC. NEAR TERM DEVELOPMENT PROJECTS Project Location Acreage (Gross) Horizon Energy Interest Grapevine Kern County, CA 10,000 40% Kern County, CA Kern County, CA 7,000 27.5% EXPLORATION PROJECTS Proje
Slide 9: Oklahoma Discovery
9 OKLAHOMA DISCOVERY “Our goal is to develop a scalable, repeatable and profitable drilling program in Osage County, Oklahoma.” — Stephen Brunner, Petro River Oil, President
Slide 10: Our Concession
OUR CONCESSION Personia West - Osage County, Oklahoma I ae Gre « se ari ifs. J Yellow = Osage Concession
Slide 11: Our land is rich with history, and oil.
11 Our land is rich with history, and oil. Development and production Over 200 million BO have been produced from historical costs of $250,000 per well. vertical production adjacent to our concession area. July 2016: 35 square miles of 3D Two field discoveries in 2017 & 2018: With 3D seismic, we hav
Slide 12: Location, Size, Working Interest
12 Location Osage County, Oklahoma. Size 87,740 gross contiguous acres. Working Interest 75% Controlled by Petro River. Mineral Rights Single mineral rights owner; 76% Net Revenue Interest to 8/8ths. 2018 Drilling Plan N. Blackland structure – potential reserves to 8/8ths Working Interest of 477,891
Slide 13: West Blackland structure map
13 2-34 407 Acres Additional Development Location West Blackland 2-3 EUR: 49,210 BOE per well West Blackland 3-3 West Blackland 1-3 West Blackland 4-3 10 Producing Wells West Blackland 5-3 West Blackland 8-3 West Blackland 6-3 West Blackland 9-3 West Blackland 7-3 VSS Structure Map – Top Mississippi
Slide 14: North Blackland development area
14 2-35 258 Acres EUR: 78,154 BOE per well North Blackland Development Area Up to 9 wells (based on 20 acre spacing) Additional Development Locations VSS Structure Map – Top Mississippi
Slide 15: Arsaga 2,000 acres
15 Proposed 2018 Development Location Abandoned Arsaga water disposal well Great Shows – Similar to Dog Creek Fields’ Oil and Gas Shows in the Chat Abandoned Arsaga 25-2 well Proposed Arsaga 25-1 well Proposed 2018 Development Location Blackland Mississippi Field 2,000 Acres EUR: 50,761 BOE per well
Slide 16: Pearsonia Section 13, 650 acres
16 Outline of Existing Old Pearsonia Mississippi Field, which was never developed to the west under Petro River’s current leasehold. Proposed 2018 Development Location Proposed Pearsonia Section 13 Extension/Development area 650 Acres EUR: 50,761 BOE per well VSS Structure Map – Top Mississippi Up t
Slide 17: Experience in Osage
EXPERIENCE IN OSAGE 17 Successfully Drilled 800+ Wells within 10 Miles of Pearsonia. Stephen Brunner Former CEO of Constellation Energy Partners President of Petro River Oil Drilled 300+ wells in Osage County 80% success rate in area without seismic 8+ years working with Osage Mineral Council Jonath
Slide 18: N. Blackland Field Cashflow
18 TO PETRO RIVER’S 75% INTEREST Assumptions Oil Price ($/bbl) 65.00 Gas Price ($/mcf) 2.29 Monthly Lease Operating $1,150 Expense per well N. Blackland Field Cashflow Cap Ex 1.5 YR 3.5 YR 5.5 YR Life of Well IRR N/A 75% WI-Bandolier (187,500) $533,430 $774,065 $927,647 $1,774,176 132% IP Rate 44 BO
Slide 19: Development and exploration drilling timeline
19 Develop Continued N. Blackland Shoot 20 Square Production of 10 extension with Drill 130 new 9 new N. Blackland 3 new Arsaga 1 New Section 13 Miles of new W. Blackland as many as 9 wells in Arsaga Wells Wells Well seismic in 2019 Wells additional wells and Section 13
Slide 20: Development and Exploration Plan Assumptions
20 Development Plan Assumptions Exploration Plan Assumptions Total Number of Wells in Full Program 9 Total Number of Wells in Full Program 130 Drilling & Completion Costs/Well $187,500 Drilling & Completion Costs/Well $187,500 IP Rate 44 BO & 30 MCF IP Rate 18 BO & 32 MCF EUR per Well 78,154 BOE EUR
Slide 21: Key Takeaways
21 Key Takeaways Diverse Conventional Portfolio with F&D <$10 per BO; OPEX <$10 per BO Osage County, 10 producing wells Successful oil field Oklahoma - drilled in the W. discovery in the N. Pearsonia West Blackland field (EUR Blackland field (EUR: Project (87,740 total per well is 49,210 78,154 BOE
Slide 22: Contact
22 55 Fifth Avenue, Suite 1702 New York, NY 10003 (469) 828-3900 [email protected] OTCBB: PTRC petroriveroil.com