Credit Suisse Investment Banking Pitch Book
RPS' revisions to Maine's ultra-deep resource
potential estimate
■ RPS revised its unrisked resource potential and risked resource potential estimate for Maine's ultra-deep prospect inventory based on
additional diligence sessions and new information received from Maine management
-
Revised net unrisked resource potential of 21.5 Tcfe and net risked resource potential of 2.8 Tcfe, implying a risking factor of
-13% based on more detailed Geologic Probability of Success ("GPOS") risking exercise with prospect and zone specific GPOS
Revisions based on updated pay associated with the prospects and inclusion of individual target reservoirs proposed by Maine
Resulted in approximately 40% increase in RPS' estimate of unrisked resources for the top 80% of the ultra-deep resource potential
Specifically, England, Captain Blood, Drake, Highlander, Lineham Creek, and Calico Jack resource estimate increased from 11.1 Tcfe
gross unrisked to 15.5 Tcfe gross unrisked resource
-
Subsequent addition of Tortuga discovery resulted in a gross unrisked resource potential of 21.1 Tcfe for ~80% of Maine's ultra-deep
portfolio
A 100% gross up implies 35.5 Tcfe of gross unrisked resource potential resulting at 4.7 Tcfe gross risked resource potential
(13.1% weighted average risking and 2.8 Tcfe net risked resource potential to Maine)
Prospect
England
Captain Blood
Drake
Highlander
Lineham Creek
Calico Jack
Tortuga
Total
Remaining prsopects
All prospects
RPS
Gross Maine Gross RPS
GPOS Risked
Resource (Tcfe) Resource (Tcfe) GPOS RPS Resources (Tcfe)
27.3
3.9
18.0
1.0
14.6
2.4
13.3
1.6
10.8
1.7
0.5
CREDIT SUISSE
7.0
5.6
96.6
19.2
115.8
11.1 10.0%
16.6 10.0%
27.7 10.0%
Net to Maine (Tcfe) (¹)
Source: RPS.
Net interest based on weighted average working interest implied by Maine's interest in individual prospects.
15.2
1.1
1.7
2.8
10.0%
Gross RPS
Resource (Tcfe)
3.9
1.0
2.4
3.3
2.7
2.2
5.6
21.1
14.4
35.5
1.5
21.5
RPS
GPOS Risked
GPOS RPS Resources (Tcfe)
23.0%
0.9
10.8%
0.1
20.3%
0.5
9.5%
0.3
8.5%
0.2
10.1%
0.2
9.2%
0.5
13.1%
2.8
13.1%
1.9
13.1%
4.7
13.1%
2.8
Confidential
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