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Penn Virginia Corporation
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8th Annual Capital One Southcoast Energy Conference
| John A. Brooks | Page 5 of 11 |
November 23, 2024
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"8th Annual Capital One Southcoast Energy Conference"
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2013 Year to Date Accomplishments 4 ? Made a transformational Eagle Ford Shale acquisition ? Have increased our acreage position ~38% since the acquisition closed ? Have increased 3P Eagle Ford reserves from 140 MMBOE pro forma to 170 MMBOE in less than a year (21% increase) ? PVA’s share price has increased ~100% from $5 to $10/share in three months ? MHR Eagle Ford Shale acquisition ? The remaining 9.3 MM share MHR overhang has recently been removed ? Provided 2014 oil production growth guidance of 65% to 85% ? Debt-to-enterprise value has decreased from 80% to 56% in three months ? Our current Eagle Ford position is likely worth a minimum of $2.0 B ? Confirmed by recent GeoSouthern sale (implies a $2.4 - $2.5 B value for Eagle Ford assets alone) ? Our 2014E CFPS multiple has increased recently from ~1.0x to ~1.7x, but we believe we have much more upside ? We have operational momentum and for this reason there is a significant amount of institutional interest in the company