Vaca Muerta Strategic Investment
Initial Acquisition Overview
Sizable and operated asset base
Two Deals Delivering Synergetic Asset Portfolio
Pampa energía
pluspetrol
■ Acquisition of PELSA and APCO O&G Int'l (1), both with about
50 years of operating track record in the oil & gas industry
■ Conventional assets with production base, infrastructure in
place, and top-quality Vaca Muerta acreage ready for full
scale development
■ Full operating platform with 168 employees (mostly
technical), and operational contracts in place (~1,500 third
party employees) (2)
Concentrated in Argentina's Premier Basin
☐
Six operated and one non-operated block in the Neuquina Basin, including
two with core shale oil Vaca Muerta acreage
◉
Two non-operated blocks in Noroeste and Golfo San Jorge basins
Neuquina Basin Blocks (7)
YPF
Entre Lomas
(100% W.1)
Medanica
Displayed
Area
Bajada del Palo
(100% W.1)
YPF YPF
Pro Forma Enterprise
Value of $863 MM (3)
Pro Forma
Metrics
Acquisition
Metrics
wintershall
GyP
PCR
25 de Mayo-
Medanito
(100% W.I.)
$PC2
Pan American YPF
ENERG
PETRONAS
Risked EUR(4)
395 MMboe
$2.2/boe
YPF
Conventional Assets
Coiron Amargo
Norte (55% W.I)
YPF
Tecpetrol
EBITDA 2017E(5)
Production 2017E(5)
$182 MM
27.5 Kboe/d
1P Reserves(6)
55.7 MMBoe
3.0x
$19,582/boed
$9.7/boe
Jaguel de
los Machos
(100% W.I.)
pluspetro
Vista Operated
YPF
Vista Non-operated
Unconventional Assets
Unconventional
Coiron Amargo
Sur Oeste
(45% W.I.)
pluspetrol
Core Shale Oil Acreage
~54,000 acres
$6,000/acre
Oil Field
Agua Amarga
(100% W.1)
Gas Field
(1) Acquisition 99.68% of equity stake in PELSA and 100% of equity stake in APCO O&G.
(2) Pro forma as of September 30, 2017.
(5)
Based on Company information and Company estimates based on results from the first nine months of
2017.
(3) Based on a $10/share stock price valuation, 96.3MM outstanding shares, and
net cash position of $100 MM
(6)
(7)
Reserves as of December 31, 2016, based on Ministerio de Energía y Minería (Presidencia de la Nación).
Pro forma for completion of the acquisition, based on Company information.
4
(4) Based on Company development plan.
Important Note: projections, estimates, targets and goals are forward-looking statements and not guarantees of future performance. See "Important Note Regarding Projections and Other Forward-Looking
Statements."View entire presentation