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| 8-K - FORM 8-K - Erin Energy Corp. | d230265d8k.htm |
 Rodman & Renshaw
Annual Global Investment Conference
September 2011
Partnering for Success
Exhibit 99.1 |
 Forward Looking Statements
2
This
Presentation
contains
forward-looking
statements
within
the
meaning
of
the
Private
Securities
Litigation
Reform
Act
of
1995,
Section
27A
of
the
Securities
Act
of
1933
and
Section
21E
of
the
Securities
Exchange
Act
of
1934.These
forward
looking
statements
are
based
on
our
current
expectations
about
our
company,
our
properties,
our
estimates
of
required
capital
expenditures
and
our
industry.
You
can
identify
these
forward-looking
statements
when
you
see
us
using
words
such
as
"expect",
"will",
"anticipate,"
"indicate,"
"estimate,"
"believes,"
"plans"
and
other
similar
expressions.
It
is
important
to
note
that
any
such
forward-looking
statements
are
not
guarantees
of
future
performance
and
involve
a
number
of
risks
and
uncertainties.
Actual
results
could
differ
materially
from
those
projected
in
such
forward-looking
statements.
Factors
that
could
cause
actual
results
to
differ
materially
from
those
projected
in
such
forward-looking
statement
include:
the
preliminary
nature
of
well
data,
including
permeability
and
gas
content,
and
commercial
viability
of
the
wells;
risk
and
uncertainties
associated
with
exploration,
development
and
production
of
oil
and
gas;
drilling
and
production
risks;
our
lack
of
operating
history;
limited
and
potentially
inadequate
cash
resources;
expropriation
and
other
risks
associated
with
foreign
operations;
anticipated
pipeline
construction
and
transportation
of
gas;
matters
affecting
the
oil
and
gas
industry
generally;
lack
of
oil
and
gas
field
goods
and
services;
environmental
risks;
changes
in
laws
or
regulations
affecting
our
operations,
as
well
as
other
risks
described
in
our
Annual
Report
on
Form
10-K,
Quarterly
Reports
filed
on
Form
10-Q,
and
subsequent
filings
with
the
Securities
and
Exchange
Commission
("SEC").
We
undertake
no
obligation
to
publicly
update
any
forward-looking
statements
for
any
reason,
even
if
new
information
becomes
available
or
other
events
occur
in
the
future.
We
caution
you
not
to
place
undue
reliance
on
those
statements.
We
may
use
certain
terms
in
this
presentation
such
as
"oil
in
place,"
"oil
zones,"
"gas
zones,"
"prospective
resources"
and
"projected
barrels
of
crude
oil",
or
other
descriptions
of
volumes
of
reserves
which
imply
the
existence
of
quantities
of
resources.
These
estimates
are
by
their
nature
more
speculative
than
estimates
of
proved
reserves
and
accordingly,
are
subject
to
substantially
greater
risk
of
being
actually
realized
by
the
Company.
Prospective
resources
are
those
quantities
of
petroleum
which
are
estimated,
as
of
a
given
date,
to
be
potentially
recoverable
from
undiscovered
accumulations
by
application
of
future
development
projects.
The
prospective
resources
included
in
the
Netherland
Sewell
and
Associates
Resources
Report
indicate
exploration
opportunities
and
development
potential
in
the
event
a
petroleum
discovery
is
made
and
should
not
be
construed
as
reserves
or
contingent
reserves.
This
document
is
not
an
offer
to
sell
securities
and
is
not
soliciting
an
offer
to
buy
securities
in
any
jurisdiction
where
the
offer
or
sale
is
not
permitted.
Investors
are
urged
to
consider
closely
the
disclosure
in
our
SEC
filings,
available
from
us
at
1330
Post
Oak
Blvd.,
Suite
2575,
Houston,
Texas
77056;
Telephone:
(832)
209-1404.
These
filings
can
also
be
obtained
from
the
SEC
via
the
internet
at
www.sec.gov. |
 May 2007 -
goes public as Pacific Asia Petroleum (PAP)
November 2009 -
listed NYSE Amex
April 2010 -
PAP acquires interest in Oyo Field in Block 120 Offshore Nigeria from CAMAC
International, changes name to CAMAC Energy Inc. (NYSE Amex:
CAK) February 2011 –
CAMAC Energy acquires remaining interest in OMLs 120/121 offshore
blocks from CAMAC International
Unrisked oil prospective resources best estimate 627 MMBbls (NSAI as of
12/31/10) Undiscovered OOIP best estimate 1,908 MMBbls (NSAI as of
12/31/10) About CAMAC Energy
3
History
Major Exploration Potential in Prolific Deep Water Nigerian Basin
Exploration opportunity to prove gas reserves in Zijinshan Gas Block in
China Experienced Management team and distinguished Board of Directors
|
 Unique Exposure to African Deal Flow
Ability to leverage over 25 years of African relationships and business
experience through the Company’s Chairman and CEO and its majority
shareholder CAMAC International Nigerian indigenous operator status
o
Local Content Laws encourage Majors to divest to indigenous
operators o
Majors currently in process of divesting producing assets in Nigeria (i.e.
Shell, etc.) Existing integrated local organization able to quickly
assimilate new opportunities Frontier African Opportunities
Recent discoveries opening new African resource frontiers (i.e. Ghana, Sierra
Leone, Liberia, Mozambique, etc.)
o
Governments
seeking
regional
indigenous
operators
to
participate
in
value
creation
Company representatives in Africa identifying attractive prospective
acreage China
Local, experienced management with strong relationships with private and
government partners
No significant debt burden
Competitive Advantage
4
Nigeria |
 AFRICA
5 |
 Lagos
OML 120/121
Oil Exploration Blocks
OML 120
OML 121
6 |
 Nigeria Asset Summary
Major Exploration Potential in OML 120 & OML 121
Prolific Deep Water Nigerian Basin
Netherland Sewell & Associates Best Estimates of Unrisked Prospective
Resources: o
Oil : 627 million barrels; high estimate of 2.2 billion barrels
o
Gas : 2 tcf; high estimate of 6.6 tcf
Lower risk exploration prospects & leads all defined by 3D seismic
Oyo Field in OML 120
Netherland,
Sewell
&
Associates
Proved
+
Probable
+
Possible
Oil
Reserves
of
47.9 million barrels (gross)
Oyo Field began commercial production in December 2009
At least two additional development well locations identified
Development
wells
tied
back
to
FPSO
“Armada
Perdana”
with
storage
capacity
of
1MMBbl,
oil
processing
capacity
of
40,000
bopd
and
gas
compression
for
re-injection
capacity
of
60MMScfd
7 |
 Niger Delta Deep Water –
Play Summary
8 |
 OML 120/121 Prospect Map |
 OML 120
Exploration Block with Oil Production
10
•
Block
size
917
sq
km
in
shelf
to
deep
water
•
Water
depths
of
150
-
1,000meters
•
Governed
by
Production
Sharing
Contract
(PSC)
with
ENI,
11
th
largest
oil
company
in
the
world
•
Entire
block
covered
with
3D
seismic
•
7
wells
drilled;
all
found
hydrocarbons
•
6
in
Oyo
Field
•
1
in
Ewo
•
CAK
has
a
60%
contractual
interest
•
5-7%
economic
interest
without
participation
•
Up
to
30%
economic
interest
with
participation
•
Carried through development, but participated
100%
in
recent
$55MM
workover
on
Oyo
#5
well
•
Oyo
Field
began
producing
oil
in
December
2009
•
Gross
avg.
production
4,109
Bopd
in
2Q11 |
 OML 121
Exploration Block
•
Block size 887 sq km in shelf to deep water
•
Water depths of 150-1,000m
•
Governed by the same PSC as OML 120
with ENI
•
Located directly south of OML 120
•
Covered by 3D seismic
•
Ebolibo Field
•
Encountered more than 90 feet of
gas in the Pliocene
•
Ebolibo-1 drilled in 2007
•
CAK has a 60% contractual interest
•
5-7% economic interest without
participation
•
Up to 30% economic interest with
participation
11
Erha
Erha North
Oyo
Ebolibo 1
Sonam 1
OML 120
OML 121
OML 108
OML 89
OML 91
OML 110
OPL 284-DO
OML 133
30
Miles
. |
   OML
120/121 Resource Potential OML 120
Bosi Field
500 MMBbls
Miocene Play
ExxonMobil
OML 121
Erha Fields
500 MMBbls
Miocene Play
ExxonMobil
Sonam Field
1tcf Gas Condensate
Miocene Play
Chevron
OML 120/121
Best Estimate of
627 MMBbls of
Unrisked Prospective
Resources
(1)
(1)
(1)
(1) Per Netherland Sewell &
Associates Resources Estimate Report as of 12/31/10; all prospects seismically defined
OML120/121
Unrisked Oil Prospective Resources
In MMBBLs
Best
High
16 Prospects/Leads
Estimate
Estimate
Ereng Prospect
129.6
515.1
Kigbo Prospect
95.2
299.7
Eba Prospect
91.1
354.2
Ewo Deep Prospect
76.4
349.3
Ewo P Prospect
38.7
81.3
Other 11 Prospects/Leads
195.7
631.7
TOTAL
626.7
2,231.3
OML120/121
Undiscovered Oil In Place
In MMBBLs
Best
High
16 Prospects/Leads
Estimate
Estimate
Ereng Prospect
393.1
1,442.9
Kigbo Prospect
288.1
825.9
Eba Prospect
277.6
1,002.8
Ewo Deep Prospect
231.6
988.7
Ewo P Prospect
117.3
211.9
Other 11 Prospects/Leads
600.2
1,783.6
TOTAL
1,907.9
6,255.8
12 |
 Frontier Opportunities
13
Kuyere-1
201mmboe
Opuyei-1
150 mmboe
*Windjammer-1
528mmboe
*Barquentine-1
528mmboe
*Lagosta-1
528mmboe
Ironclad-1
59mmboe
Source: Renaissance Capital, BP and Wood Mackenzie
Mercury-1
300mmboe
Cabaca SE-1
270mmboe
Mpungi-1
66mmboe
Owo-1
200mmboe
Dzara-1
100mmboe
*Chewa-1
176mmboe
*Pweza
1.1Tcf
Tanzania
Mozambique
Nigeria
Angola
Ghana
Sierra Leone
Mpyo
50mmboe
Uganda
Marine -2
50mmboe
Marine -3
50mmboe
Congo
Estimated reserves provided
* Indicated primarily gas find
Major 2010 African Discoveries!!! |
 Current West African Activity
14
Source: African Petroleum Presentation, August 2011
|
 CHINA OPERATIONS
15 |
 Zijinshan Location
16 |
 •
100% interest in the exploration phase
•
60% interest in the development phase
•
Partnered with PetroChina CBM
•
175,000 net acres or 708.1Km
2
•
Ordos Basin, Shanxi Province –
the 2
nd
largest oil and gas basin in China
•
Significant gas pipeline infrastructure
•
Drilled ZJS#’s 1, 2, 3 & 4
Gas shows at several intervals
in wells ZJS#’s 2,3 & 4
•
Three more wells to be drilled 2011-2013
o
Well ZJS#5 scheduled for late 2011
•
The Company estimates recoverable gas
resource of 300 Bcf for the entire block
based on volumetric calculations using
regional data assumptions and preliminary
Zijinshan field-specific data
Zijinshan Exploration Block
17 |
 LX0001
+
+
+
+
+
+
+
—
+
+
+
+
+
+
ZJS1
The block is structurally divided into 3 parts:
Western folded belt, Central depression, and Eastern faulted folds
Structure Map of Shanxi Formation
18 |
 Work
with
partner
to
fast
track
development
and
exploration
program
on
OML
120/121
Execute
opportunistic
and
accretive
acquisitions
of
marginal
producing
fields
with
development
upside
o
Leverage
5
year
ROFR
with
affiliated
Nigerian
Oil
&
Gas
Co.
Allied
Energy,
PLC
Form
strategic
partnerships
to
participate
in
the
Majors’
asset
divestiture
programs
Use
existing
integrated
local
organization
to
manage
opportunities
Operate
acquired
fields
to
leverage
and
build
upon
technical
capabilities
Identify
promising
assets
in
West,
Central
&
East
Africa
Execute
accretive
acquisitions
of
producing
fields
with
development
upside
Leverage
relationships
and
indigenous
status
for
positions
in
prime
exploration
acreage
China
De-risk
Chinese
gas
asset
through
low
cost
exploration
program
for
near
term
monetization
and
reinvest
proceeds
in
core
African
opportunities
Growth Strategy
19
Nigeria
Frontier African Opportunities |
 Ticker (NYSE Amex):
CAK
Market Capitalization (8/31/11)
$128 million
52 Week Price Range:
$0.74 -
$3.95
Average Daily Volume (last 90 days)
568,503
Shares Outstanding
154.2 million
Management, Directors & Affiliates
58%
Company Profile
20 |
 Dr. Kase Lawal
Chairman &
Chief Executive Officer
Over 25 years as CEO & Chairman of CAMAC International,, a private
African-focused diversified energy co. Commissioner on the Port of
Houston Authority Vice Chairman of Houston Airport Development System
Corp. Member of President Obama’s White House Advisory Committee for
Trade Policy and Negotiation Member
of
Presidential
Trade
Advisory
Committee
on
Africa
during
both
President
Bush’s
and
Clinton’s
Administrations
Member of Nigerian President Jonathan’s 26 Member Presidential Advisory
Council Ed Caminos
Senior Vice President &
Chief Financial Officer
Former Chief Financial Officer of BPZ Resources, a publicly traded independent
oil & gas company focused on South America
Over 15 years of international energy industry related experience with
Schlumberger, Reliant Energy & Duke Energy
Began
career
with
international
public
accounting
firm
KPMG
Peat
Marwick
Certified Public Accountant
Alan Halsey
Senior Vice President of
Exploration & Production
Former Vice President and COO of Transmeridian Exploration, an independent oil
and gas co. in Houston, TX Over 21 years at Texaco; most recently as
Chairman and Managing Director of Texaco Upstream Companies in
Nigeria
Former General Manager of Texaco’s Angola oil and gas operations
Former President of Texaco’s affiliate in Colombia, South America
Degree in Oil Technology from Imperial College of Science and Technology, London
University Management
21 |
 Board of Directors
Dr. Kase Lawal
Chairman
and
CEO
of
CAMAC
Energy
Inc.
Commissioner
on
the
Port
of
Houston
Authority
Vice
Chairman
of
Houston
Airport
Development
System
Corp.
Member
of
President
Obama’s
White
House
Advisory
Committee
for
Trade
Policy
and
Negotiation
Member
of
Presidential
Trade
Advisory
Committee
on
Africa
during
both
President
Bush’s
and
Clinton’s
Administrations
Member
of
Nigerian
President
Jonathan’s
26
Member
Presidential
Advisory
Council
Dr. Lee Patrick
Brown
Chairman
of
the
Board
of
Unity
National
Bank
Former
Mayor
of
Houston
Former
Commissioner
of
the
New
York,
Atlanta,
and
Houston
Police
departments
Former
Director
of
the
White
House
Office
of
National
Drug
Control
Policy
under
President
Clinton
William Campbell
Principal and Managing Director of PPPCo-CB Energy, LLC; private oil and gas
exploration co. Nearly
thirty
years
of
diverse
management
in
finance,
legal,
land
and
marketing
J. Kent Friedman
Partner
in
Public
Law
Group
in
Houston
Office
of
Haynes
and
Boone,
LLP
Vice
Chairman
of
the
Board
and
General
Counsel
of
MAXXAM
Inc.;
a
diversified
public
holding
company
John Hofmeister
Head
of
Citizens
for
Affordable
Energy
Former
President
of
Shell
Oil
Company
Hazel O’Leary
President
of
Fisk
University
Former
Secretary
of
Energy
under
President
Clinton
Ira Wayne
McConnell
Managing
Partner
and
Founder
of
McConnell
&
Jones
LLP;
Certified
Public
Accountants
Former
Chairman
of
the
Audit
Committee
of
the
American
Heart
Association
22 |
 Houston Office
1330 Post Oak Boulevard, Suite 2575,
Houston, Texas USA 77056
Tel: 832-209-1404 Fax: 832-201-1786
Nigeria Office
Plot 1649, Olosa Street, Victoria Island
Lagos, Nigeria
Tel: +234-1-4603340-2 Fax: +234-1-2704271
Beijing Office
Suite 508-510, Nexus Centre, 19A Dong San Huan Bei Lu, Chaoyang District,
Beijing, 100020, People’s Republic of China
Tel: +86 10 5967 0444
Fax: +86 10 5967 0488
CAMAC Energy Corporate Website
www.camacenergy.com
Email: IR@camacenergy.com
Contact Information
23 |
 THANK YOU
24 |