All statements other than statements of historical fact may be forward-looking statements. These statements relate to future events or the Corporation's future performance. Forward-looking statements are often, but not always identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Corporation believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied upon by investors. These statements speak only as of the date of this presentation and are expressly qualified, in their entirety, by this cautionary statement.
In particular, this presentation contains forward-looking statements, pertaining to the following:
– supply and demand for oil and natural gas; – the quantity of reserves; – the quantity and economic viability of resources; – the value of reserves; – the flow rates of wells; – capital expenditure programs; – development of reserves; – potential acquisitions; and – expectations regarding the Corporation's ability to raise capital. The Corporation's actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth below and elsewhere in this presentation: – volatility in the market prices for oil and natural gas; – uncertainties associated with estimating reserves and resources; – geological, technical, drilling and processing problems; – liabilities and risks, including environmental liabilities and risks, inherent in oil and natural gas operations; – incorrect assessments of the value of acquisitions; – incorrect estimates of costs; – competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; and – weather conditions.
The forward-looking statements or information contained in this presentation are made as of the date hereof and the Corporation undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. Certain of the forward-looking statements regarding the Corporation’s financial outlook, anticipated revenue, future expenditures and cash flow forecasts may constitute future-orientated financial information (“FOFI”). Management of the Corporation approved the inclusion of the FOFI in the presentation based on the assumptions listed above on September, 2010. The FOFI included in this presentation has been provided only for the periods listed and for the sole purpose of providing an estimated guideline for the Corporation’s possible future financial position and the FOFI may not be appropriate for other purposes.
References to "contingent resources" or "resources" in this presentation do not constitute, and should be distinguished from, references to "reserves". "Reserves" are those remaining quantities of oil and gas anticipated to be economically recoverable from these known accumulations from a given date forward. "Resources" are oil and gas volumes that are estimated to have originally existed in the earth's crust as natural accumulations but are not capable of being classified as "reserves", and "contingent resources" are a sub-category of resources that means those quantities of oil and gas estimated to be potentially recoverable from known accumulations but which cannot be classified as "reserves" for a variety of reasons, including that they may not be currently economic. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
Barrel of Oil Equivalent: -Where amounts are expressed on a barrel of oil equivalent (“boe”) basis, natural gas volumes have been converted to boe at a ratio of 6,000 cubic feet of natural gas to one barrel of oil equivalent. This conversion ratio is based upon an energy equivalent conversion method primarily applicable at the burner tip and does not represent value equivalence at the wellhead. Boe figures may be misleading, particularly if used in isolation. Reserves and Resource definitions: - Probable reserves are those additional reserves that are less certain to be recovered than proved reserves. - Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. - Future net revenues associated with reserves and resources do not necessarily represent fair market value. - The estimates of reserves and future net revenue for individual properties may not reflect the same confidence level as estimates of reserves and future net revenue for all properties, due to the effects of aggregation. - “Prospective resources” means those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations. They are technically viable and economic to recover.
MISSION AND VISION
To our Shareholders - Doxa Energy, Ltd. ("Doxa") has quickly transitioned from a pure exploration company into an oil and gas production compnay since closing of its initial qualifying transaction on May 15, 2010. The Company is already well positioned to capitalize on many favorable existing opportunities already identified within the unconventional (including South Texas-Eagle Ford Shale and Oklahoma-Mississippian Oil ) and conventional play segments of the energy industry, exclusively onshore. Doxa’s managers are fully committed to building a leading oil & gas company, creating longterm value for our shareholders by managing our business prudently and achieving attractive financial and operating results. We intend to accomplish this goal by strictly adhering to our basic underlying investment strategy of continuing to invest in a diverse portfolio of high quality investments and acting quickly to secure favorable positions in targeting investments, while at the same time utilizing sound business, social, environmental and safety practices. Our investment portfolio will continue to reflect a variety of oil and gas exploration and exploitation opportunities with an appropriate mix of low, medium and high risk/reward profiles.
WHO IS DOXA ENERGY LTD
Board of Directors combines senior managers of Dynamic Production Ltd., Fort Worth, Texas and the Armstrong Group of Companies, Vancouver, BC Dynamic Production: Privately owned • Established 1970’s
Over 500 wells drilled
Currently involved in 100’s of active wells Well versed in normal as well as over pressured vertical, deviated and horizontal wells to 17,000 feet
• Behind numerous international discoveries of coal, silver and copper
SHARE DISTRIBUTION AND CAPITALIZATION
TSX.V: DXA OTCQX: DXAEF Frankfurt: 5D0
Shares Outstanding Shares Fully Diluted Current share price Recent Market Cap Cash Position 28,115,856 41,549,718 $0.40 Cdn (April, 2011) $ 11.0 Million $ 3.0 Million Shareholder Distribution Management and Directors Public Float 35% 65%
MISSISSIPPIAN OIL PROSPECT
MISSISSIPPIAN OIL PROSPECT EAGLE FORD SHALE
Oil Window - Acreage Acquisition Pending
MISSISSIPPIAN OIL PROSPECTS
PEELER RANCH PROSPECT
Producing Completing 36 21
EAGLE FORD SHALE
Oil Window - Acreage
EAGLE FORD SHALE
Oil Window - Acreage
GIDDINGS PROSPECT (AUSTIN CHALK/BUDA)
SARTAIN PROSPECT (AUSTIN CHALK)
EAGLE FORD SHALE
Gas/Condensate Window Acquisition Pending
COUNTY LINE NORTHPROSPECT (WILCOX)
Spud 2nd Quarter, 2011
WARREN PROSPECT (WILCOX)
Lone Oak Warren
COUNTY LINE PROSPECT (WILCOX)
SARCO CREEK 3D PROSPECT
EMSHOFF PROSPECT (WILCOX)
MOORES ORCHARD PROSPECT (YEGUA)
EAGLE FORD SHALE PROFILE
One of the most economically viable unconventional plays in the US today.
Over 100 rigs operating in the Eagle Ford, up from 15 in January 2009.
Doxa’s interests are situated in the high-value oil window.
EOG Resources, Inc., a prominent player in the Eagle Ford has drilled 10 wells in close proximity to Doxa’s Peeler Ranch and reports EUR’s in the range of 258-356 Mboe.
Recent Eagle Ford acreage transactions have approached $10,000 per acre. Doxa’s average per acre lease cost is approximately $1,000 .
No water issues
EAGLE FORD SHALE TREND
Peeler Ranch L.V. Ranch Winn Ranch
DOXA’S EAGLE FORD PROJECTS
PROJECT NAME Peeler Ranch 1-H Peeler Ranch 2-H Zavala County Eagle Ford AMI Epley Prospect Other Eagle Ford AMI Total Eagle Ford Shale Play KEY:
EXPECTED PROJECT TYPE PRODUCTION COUNTY
NET POTENTIAL GROSS WORKING REVENUE GROSS ACRES NET ACRES INTEREST INTEREST LOCATIONS
Eagle Ford Shale Eagle Ford Shale Eagle Ford Shale Eagle Ford Shale
Oil/Gas Oil/Gas Oil/Gas Oil/Gas Oil/Gas
2,005.9 1,046.8 1,138.8 640.0 700.0 5,531.5
401.2 136.1 227.8 96.0 140.0 1,001.0
20.00% 20.00% 13.00% 20.00% 15.00% 20.00%
15.00% 15.00% 9.75% 15.00% 11.25% 15.00%
10.0 8.0 8.0 5.0 3.0 34.0
Atascosa Spud Q2-11 Atascosa Spud Q3-11 Zavala Spud Q4-11
Atascosa Eagle Ford (Exc. Peeler) Eagle Ford Shale
Eagle Ford Shale Gas/Cond. McMullen Producing McMullen Pend. Acq.
ACTIVE PROJECTS PREVIOUSLY ACQUIRED BY DOXA PROSPECTS UNDER LETTER OF INTENT OR AVAILABLE FOR ACQUISITION BY DOXA
PEELER RANCH EAGLE FORD SHALE PROSPECT
Direct offset wells drilled by EOG with EUR’s reported in the range of 258-356 Mboe.
Eagle Ford shale at 9,500’ in high value oil window.
2,005 gross acres.
20% WI, together with a 15% NRI.
Anticipate drilling 2 wells per year. Potential of up to 14 wells based on offset operator spacing.
Frac Operations - Peeler Ranch No. 1-H (Foreground)
Initial well recently put on line at 300 BOPD and 150 MCFD on restricted choke. 11
DOXA’S CONVENTIONAL PROJECTS
PROJECT NAME Martin State Gas Unit No. 1 (County Line Prospect) Koehn Prospect Moores Orchard (Chachere No. 1)
Wilcox Wilcox Yegua
COUNTY McMullen Colorado Fort Bend
Status Completing Producing Drilling
623.8 401.58 500.00
NET WORKING REVENUE POTENTIAL NET ACRES INTEREST INTEREST LOCATIONS 87.7 25.1 46.9 14.06% 6.25% 9.38% 10.55% 4.81% 7.03% 2.0 2.0 3.0
Gas Oil/Gas Oil
Sartain Prospect Warren Prospect (Pfluger No. 1) Burleson County AMI Total Conventional Play
Austin Chalk Wilcox Austin Chalk
Oil Oil Oil
Frio Tyler Burleson
Completing Drilling Pend. Acq.
989.7 350.00 2,000.0 5,505.1
123.7 52.5 500.0 931.0
12.50% 15.00% 25.00%
9.38% 11.25% 18.75%
3.0 3.0 8.0 25.0
Gulf Coast Proprietary 3D Project Wintermann 3D Seismic Repro. Total Seismic Development
Processing 3D Data Pend. Acq.
25,600.0 n/a 25,600.0
10,239.9 n/a 10,239.9
30% Pending n/a Pending
KEY: ACTIVE PROJECTS PREVIOUSLY ACQUIRED BY DOXA PROSPECTS UNDER LETTER OF INTENT OR AVAILABLE FOR ACQUISITION BY DOXA
Covers 445.69 gross acres.
Targeting productive conventional Wilcox formation sands below 9,500’.
6.25% WI, with a 4.6875% NRI.
Initial well completed and currently producing 45 BOPD and 400 MCFD.
Potential of 1-2 additional wells may be drilled.
SARCO CREEK 3D PROJECT, TEXAS
Field operations are complete and processing is ongoing on 40 square miles of newly acquired proprietary 3D seismic.
30% WI with a 22.5% NRI.
Historical production from Frio formation, above 5,000’ with individual well cums of 200,000+ BO.
Good mix of oil producing and gas producing zones. Objectives include development in the Miocene and Frio formations above 5,000’.
30% Interest under 3D seismic survey and leases/options approximately $1,046,000.
County Line Prospect– Martin State #1
Drilled successfully to a total depth of 11,800 feet . Casing run and cemented with completion operations currently under way.
14.0625% WI and a 10.55% NRI under approximately 623 gross acres.
Initial well encountered various commercial productive Wilcox formations sands below 7,500.
Potential for 2 locations.
Several of the objective sands are prolific commercial producers on trend and within two miles.
CURRENT PROJECT TIMELINE
OCTOBER, 2010 NOVEMBER, DECEMBER, 2010 2010 JANUARY, 2011 FEBRUARY, 2011 MARCH, 2011 APRIL, 2010
PEELER RANCH NO. 1H EPLEY NO. 1H KOEHN NO. 1 MARTIN-STATE UNIT NO. 1 CHACHERE UNIT NO. 1 SARTAIN ASSETS NO. 1H PFLUGER NO. 1 EMSHOFF UNIT NO. 1 SARCO CREEK 3D
MAY, 2011 JUNE, 2011
DRILLING COMPLETION IF WARRANTED PRODUCING 3D SEISMIC OPERATIONS Potential Upcoming Production
MISSISSIPPIAN OIL PLAY - OKLAHOMA
PROJECT UNDER CONSIDERATION
An emerging horizontal oil play in northern Oklahoma, led by Chesapeake Energy and SandRidge Energy, with compelling economics that may become the premiere midcontinent oil play within a short time.
The Mississippian Oil play is a high perm, thick carbonate oil play at relatively shallow depths, above 6,000’. According to a recent disclosure from SandRidge Energy, after drilling 52 wells, estimates average well cost to be $2.7 million, and expects per well EURs in the range of 300-500 Mboe. SandRidge further estimates an ROR in excess of 100%.
Doxa has the opportunity to participate in an acreage block currently being assembled within the core area as defined by SandRidge and others, at favorable terms which will be disclosed at an appropriate time in the near future. Doxa expects to participate as a non-operator in several wells in the second half of 2011.
MANAGEMENT AND DIRECTORS
John D. Harvison, President, CEO and Director
Mr. Harvison serves as president for Dynamic Production, Inc., a private oil and gas exploration, production and development company and various other affiliated entities. Mr. Harvison and his family own Dynamic Production, Inc. and have significant interests in over fifty other partnerships and corporations engaged in a variety of business activities, including oilfield supply stores, mining, real estate and banking. Mr. Harvison has been involved in the day-to-day operation of Dynamic since 1978, and the management thereof since 1990.
G. Arnold Armstrong, LLB
Chairman and Director
Mr. Armstrong is a barrister and solicitor in the law firm of Armstrong Simpson. He holds a law degree from the University of British Columbia and was called to the British Columbia bar in 1950 and continues to practice corporate and commercial law at the present time. He has over forty years of experience in management and senior management positions within the resource industry and holds senior officer and board positions with several publicly traded companies, including Prophecy Resource Corp. and International Enexco Ltd.
MANAGEMENT AND DIRECTORS
Jonathon Weiss, Director
Mr. Weiss is the Vice President of Engineering for Dynamic Production, Inc. He has served in this capacity since 2002 and has over 25 years experience in the oil and gas business. Mr. Weiss is a member of SPE, AADE, and ASME. He earned a Bachelor of Science degree in Petroleum Engineering from the University of Texas in 1983. He has supervised the drilling and completion of over 100 wells in Texas, California, Louisiana, Mississippi, and Oklahoma. His drilling experience and expertise encompasses all facets of engineering from AFE to TD. This includes vertical, deviated, HTHP, reentry and underbalanced/overbalanced horizontal wells to a maximum depth of 17,000'. Mr. Weiss is also named co-inventor in the patented technology: "System and Method for Stimulating and Producing Stratified Reservoirs" (US Patent Serial No. 7,451,814).
Mr. McKenzie has over 20 years experience working in international equities markets. His experiences include acquiring, selling, financing and developing multiple international mineral and energy projects in North America, South America and Asia. In his career he has acted as Director, Vice President and President of several resource companies.
MANAGEMENT AND DIRECTORS
Mark Bronson, Director ,CFO
For the past eight years, Mr. Bronson has been on the executive management team at the Harvison Companies in Fort Worth, Texas, where he is currently the Chief Financial Officer. He is responsible for the financial oversight of over a dozen companies involved in such diverse activities as oil and gas, mining, renewable energy initiatives, light manufacturing, retail sales, wholesale travel and banking. He presently serves as a Director of a publicly-traded US oil and gas company, and several private companies in addition to Doxa Energy. Mark is a CPA with an undergraduate degree from the University of Nebraska and an MBA from Michigan State University, he is also a former adjunct professor at the TCU Graduate School of Business. Mark is the former Controller and Chief Accounting Officer for two publicly-traded companies -- Lone Star Technologies (oil field steel manufacturing) and FFP Operating Partners (multi-state operator of convenience stores).
Mr. Frederiksen holds a Bachelor of Business Administration from Simon Fraser University and is a Chartered Accountant with the ICABC, a CPA through the University of Illinois and a CFA with CFAI. Since 1999, he has been in public accounting and controllership, and has served as a board member and officer for several Canadian companies, both private and public, including Prophecy Resource Corp. and International Enexco Ltd. Mr. Frederiksen has been a financial controller with Armada Investments Ltd. since 1999.
MANAGEMENT AND DIRECTORS
Gerald Graham, Director
Mr. Graham began with Dynamic Production, Inc. as Land Manager in 1981 and presently serves as Vice President of Land. He has over 25 years of experience in negotiating, planning and funding of oil and gas exploration ventures in Texas, California, Mississippi, Oklahoma and Arkansas. He is also involved in the day to day operation and business development of various other Harvison Companies, including mining and minerals.
Mr. Parsons came to the public sector after a 20 year successful marketing and corporate development career in the private and government sectors. His experience includes extensive public relations, marketing, branding, and the development of corporate strategies for emerging and established companies. For the last several years, Mr. Parsons has assumed the role of VP of Corporate Development for Prophecy Resource Corp. and International Enexco, two Canadian-based junior exploration companies
Canada/ U.S.A Toll Free #: 1.888.662.DOXA(3692)