This document provides information about investment opportunities in oil and gas royalties in the Utica Shale formation in Ohio. It discusses the large natural gas and oil reserves in the Utica, the investment that has already been made, and the economic growth occurring in the region as a result. The document promotes acquiring oil and gas royalty rights from landowners, which would provide revenue from production without operational risk. It summarizes several investment opportunities throughout the oil and gas supply chain in Ohio and North America more broadly that could benefit from low natural gas prices.
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Marcus Evans Elite Family Office Summit on Low Cost Energy Opportunities
1. Marcus Evans Elite Family Office SummitMarcus Evans Elite Family Office SummitMarcus Evans Elite Family Office SummitMarcus Evans Elite Family Office SummitMarcus Evans Elite Family Office SummitMarcus Evans Elite Family Office SummitMarcus Evans Elite Family Office SummitMarcus Evans Elite Family Office Summit
June 16, 2014June 16, 2014June 16, 2014June 16, 2014
ShepperdShepperdShepperdShepperd Investors AGInvestors AGInvestors AGInvestors AG
WiesenstrasseWiesenstrasseWiesenstrasseWiesenstrasse 10101010
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2. No Timelier and More Important Subject
How Long Will the Gas Flow and Lights Stay On?
3. Europe, the Ukraine and Russia
◦ Dependence on Russian Natural Gas
◦ Economics and Politics Compromised
◦ Fundamental Security Also Now Questioned
◦ European Gas Runs Through Ukraine
Ukraine “Owed” 5.2 Billion Euros for Russian Gas
Price to Ukraine in 2007…USD 485 Per MCM
Renegotiated USD 268 Plus Sevastopol
Average Price to Europe….USD 380 Per MCMAverage Price to Europe….USD 380 Per MCM
Often Spot Market Price Plus in Winter
◦ The Gas Exporting Countries Forum and “Big Gas Troika”
Russia, Iran, Qatar, plus Algeria, Nigeria, Venezuela , Libya, Egypt
Bolivia, Equatorial Guinea, Trinidad Tobago
Control Globally 70% of Natural Gas and 85% of Liquid Natural Gas (LNG)
OPEC of Gas
◦ Russia Creates Eurasian Union
Russia, Belarus, Kazakhstan…and more to come…
Members are Exporters of Raw Materials
Much of the Middle East Is No Longer Reliable (Iraq, Libya et al.)
4.
5. GECF Countries Control By Import Volume:GECF Countries Control By Import Volume:GECF Countries Control By Import Volume:GECF Countries Control By Import Volume:
61% of EU Gas Supply61% of EU Gas Supply61% of EU Gas Supply61% of EU Gas Supply 64% of EU Oil Supply64% of EU Oil Supply64% of EU Oil Supply64% of EU Oil Supply
62% Gas & Oil by Value Source: EU Energy Security Report May 28, 201462% Gas & Oil by Value Source: EU Energy Security Report May 28, 201462% Gas & Oil by Value Source: EU Energy Security Report May 28, 201462% Gas & Oil by Value Source: EU Energy Security Report May 28, 2014
6.
7.
8.
9. High Cost Energy Drags Economy
◦ Substantial Job Loss
◦ Base Industries Cannot Compete, Must Relocate
◦ Spot Price Plus for Natural Gas
Retail Price USD 21/mcf in Europe USD 6/mcf in US
◦ Always a Winter “Crisis” with Supply from Russia◦ Always a Winter “Crisis” with Supply from Russia
◦ German Angst Obstructs Change
Against Shale, Against Electric Cars (1% vs 20% in Japan)
EU Security Initiative Published
◦ Alternatives to Russian Sourced Gas
◦ Indigenous Gas Production (Yes, Shale Gas)
◦ Conservation and Alternative Energy Sources
◦ The Rumble of Earthquakes, or the Rumble of Tanks?
10. Low Cost Energy Countries Attract Industry
Shale and Low Cost Energy Saves America
Shale Saves Tax Dollars (8.4% Electric, 28.7% Gas)
◦ USD 60 MM for Ohio Govt. 10.2 MM for Schools Per Year
Changes Strategic Balances in the World
Creates Economic and Political Independence inCreates Economic and Political Independence in
Shale Countries
Shale Oil and Gas is the Largest Geopolitical and
Economic Change in the 21st Century
◦ Opportunities Abound
11. From Largest Importer to Largest Exporter of Oil
in the World Very Soon
More Gas Produced in Pennsylvania than in Qatar
Dramatic Change In Trade and Economic Data
◦ Exports at 4.3 Million Barrels of Petroleum Products Per
Day in 2013
1.7 Million Per Day in 20081.7 Million Per Day in 2008
◦ Imports at 2.1 Million Barrels
◦ US Export Ban To Be Lifted
Opportunities for Investment and Profit
Throughout the Supply Chain
12. Reserves for the Future
◦ Approx. 350 Trillion Cubic Feet in Gas Reserves In US
◦ Utica Formation Alone Can Supply the Entire Energy of
the US for 100 Years
The US Converts to Natural Gas
◦ Compressed Natural Gas for Transportation◦ Compressed Natural Gas for Transportation
◦ Natural Gas for Power Generation
◦ The Real Story: www.truthlandmovie.com
◦ Lowest CO2 Emissions in 20 Years and Kyoto
◦ Goal Met Because of Shale Gas Power Generation
◦ 30 Percent CO2 Reduction by 2020 New Goal
◦ Coal Now Exported to Germany and Air Quality
Diminishes The Real “Energiewende”
13.
14. The Utica Formation
◦ 38 Trillion Cubic Feet Natural Gas
◦ 940 Million Barrels of Oil
◦ 208 Million Barrels of Natural Gas Liquids
◦ Shale Formation Between 200 and 400 Feet Thick (124
Meters)
Bakken Play Compared (North Dakota)Bakken Play Compared (North Dakota)
◦ 6.7 Trillion Cubic Feet Natural Gas
◦ 7.4 Billion Barrels of Oil
◦ 530 Million Barrels of Natural Gas Liquids
Ohio History
◦ First Well 1860 (2nd Well Drilled in North America)
◦ 65,080 Horizontal Wells Still Operating & Many
“Fracked” in the 1980`s, or Earlier
15. Richest Shale Oil and Gas Formation in North
America
◦ Approx. 60 Percent Liquid Condensate (Oil)
◦ Average 2,000 to 9,000 Barrels Per Day
◦ Top Well Produces 42 million Cubic Feet Per Day◦ Top Well Produces 42 million Cubic Feet Per Day
◦ USD 38 Billion Invested in the Last 3 Years
◦ Publicly Held Drillers Involved
◦ Refiners Already Close By, and Rapidly Expanding
British Petroleum, Cleveland (Formerly Standard Oil)
Marathon Oil, Findlay
Ashland Oil, Canton
16.
17.
18.
19.
20.
21. The Oil Rights Are Owned by the Land Owners
◦ Royalties and Bonuses Creating Multi Millionaires Daily
◦ Sales Tax Revenues have Tripled as Money Flows
Wells Are Drilled
◦ Approximately USD 10 Million Per Well
Infrastructure is Being Built
◦ USD 4 Billion New Refinery by Brazilian Investors◦ USD 4 Billion New Refinery by Brazilian Investors
◦ USD 2.2 Billion in New Gas Fired Power Plants
Ohio Imported 10 Billion Cubic Ft. of Gas in
2011, Exports 10 Billion Cubic Ft. in 2014
◦ Pipelines Change Direction and Flow to the Other States
“A forgotten region will become World Class.”
◦ Region the “Newest World Class Asset.” Houston
Chronicle, May 22, 2014
22.
23. We are Local and Know the Oil Patch
◦ Family was Largest Land Owner in Tuscarawas
County for Decades (Established 1918)
◦ Owned and Drilled Oil and Gas Wells On His Own
Property in the 80`s
◦ Packaged 25-50 Oil Well Deals with Other Land◦ Packaged 25-50 Oil Well Deals with Other Land
Owners and Investors
◦ Sold Ohio Real Estate Investments and Established
Shepperd Investors AG in Zurich 2007
◦ FMS Worked to Save the Community Before the
Economic Crash
24. Local, Real Deals
Direct Opportunities from the Oil Patch
Starts with Royalties and Continues through
the Supply Chain and Downstream
Team of Professionals and Technical ExpertsTeam of Professionals and Technical Experts
◦ Ohio
◦ North America
◦ Europe
Families for Families, Individual and
Institutional Investors
25. The Real Estate Owner Owns Minerals Below
the Surface
Oil Driller Leases the Rights
◦ Leases are Filed in the County Land Records
◦ Lease Rights Are Assignable and Transferable
◦ Time Limit to Drill Wells
◦ Owner Receives Approx. 20 Percent of the Gross Value◦ Owner Receives Approx. 20 Percent of the Gross Value
Produced By the Well
◦ Royalty Rights Transferred to SIAG, Separable from Land
Title
Well Produces Oil and Gas
◦ Production Logs at Wellhead Checked Monthly
◦ Payment at Current Price for Oil and Gas Paid to Royalty
Owner
◦ USD 10,000 in Production Means USD 2,000 in Royalties
26. Oil Rights are Leased
The Royalty Rights are Acquired by SIAG from
the Landowner for a Lump Sum Amount
Assignment is Filed In the Land Records
Royalty is Paid to SIAG Instead of LandownerRoyalty is Paid to SIAG Instead of Landowner
◦ Like “Clipping Coupons”
◦ Rights Are Readily Marketable and Transferrable
Two Sources of Revenue
◦ Royalty Payments
◦ Increased Value of the Royalty Rights When Sold
No Oil and Gas Operational Risk of Drillers
27. Eagle Ford Shale Formation In Texas
◦ 105% in 18 Months from Oil and Gas Production
Value of Leases Exponential
◦ Initial Purchase Price USD 8,000 Per Acre
◦ Value of Royalty Rights in 6 Months USD 15,000
◦ Value in One Year USD 100,000◦ Value in One Year USD 100,000
◦ Current Value 100 x Cash Flow
Ohio Is Early Stage, but Better than Eagle Ford
◦ January Price was USD 8,500
◦ Value Now USD 15,000
◦ Next Year… Like Eagle Ford
◦ Just Announced USD 2.0 Billion for Leases in the Coming
Months by One Investor…Elevator Up!
28. Drilling
◦ 31 Drilling Companies in the Ohio Utica
◦ Publicly Owned Drilling Companies
◦ Co-investment with Local Drillers
◦ Investment in Stock of the Companies
◦ Consolidation Likely◦ Consolidation Likely
Infrastructure
◦ Pipelines
◦ Compressor Houses
◦ CNG and LNG Facilities
◦ Power Generation
◦ Refining
29. Investment in Related Businesses and
Companies Involved in the Shale Market°
◦ Schlumberger, Ecolab and Others
Well Services
◦ Solvay Chemical and Others◦ Solvay Chemical and Others
Solvents for the Oil Field
◦ Steel Pipe Companies
Timken Company Canton
US Steel Cleveland
Vallourec Youngstown
°Examples For Presentation Purposes Only. Consult Your Investment Advisor
30. Investment in Ventures Benefiting from Low Cost
Energy (USD 100 Billion in Projects Already
Announced in the US)
◦ Plastics and Chemical Companies
◦ Steel, Foundries
◦ Local Refiners◦ Local Refiners
Investment in the Local Economic Growth
◦ Hotels (6 Under Construction in One Town)
◦ Multi Tenant Housing
Rooms USD 800 per Month, Houses USD 6,000 per Month
◦ Industrial and Commercial Real Estate
◦ Land in the Right Location
◦ Other Businesses to Serve the Community
31. Buy a Business, or Buy a Few Shares
Local Residents Renting Rooms in their Homes,
Campers, Basements and Garages
Invest in Funds for Infrastructure and More
◦ SIAG Structured and Developed for Families and
Institutional InvestorsInstitutional Investors
◦ Others
Be Creative and Use Your Imagination
◦ When Over100 Billion Dollars is Focused in One Place
What Happens?
◦ Be There Ahead of Global Capital
Change Elevators, Then Take the Elevator Up!
32.
33. Europe
◦ UK 14th Lease Round This Fall by DECC
◦ Poland Concessions Issued and New Law
◦ Germany SSHHH! Starts Quietly German Angst to
Innovation No to Shale, No to Electric Cars
◦ France SSHHH! Jobs Trump the Liberal
Socialists and Green Party Politics
◦ Deterrents: Lack of Infrastructure, Taxation, Law◦ Deterrents: Lack of Infrastructure, Taxation, Law
South America
◦ Brazil In Planning
◦ Argentina Underway
Asia
◦ China In Planning 20,000 ft. Wells
◦ Australia In Planning
34. Harnessing Global Capital Flow
Turning the Worst Economy in the US to the Best
(Currently No. 1 State)
Transforming Poor and Unemployed Farmers into
Millionaires (250 in Carroll Coúnty In 2 Years)
New Generation of Philanthropy and Charitable OrganizationsNew Generation of Philanthropy and Charitable Organizations
Creating an Enormous Economic Infrastructure
for the Next 50 Years
Attracting Global Businesses with Low Cost
Energy
Creating 200,000 Thousand Jobs for the Rust Belt
in the New “Black Belt”
35. In German: „ÖlIn German: „ÖlIn German: „ÖlIn German: „Öl---- und Gasrevolution in Nordamerikaund Gasrevolution in Nordamerikaund Gasrevolution in Nordamerikaund Gasrevolution in Nordamerika Die Welt wird ein
bisschen Schiefer“ (The World is a Bit More Out of Balance)
In American:In American:In American:In American: „Shale Brings Hope; Independence and Prosperity“
37. THIS CONFIDENTIAL DOCUMENT (THIS “PRESENTATION”) IS BEING DELIVERED TO A LIMITED NUMBER OF PARTIES WHO, IT IS
BELIEVED, MAY BE INTERESTED IN FINANCING THIS LEASE ROYLTY OPPORTUNITY FOR SHEPPERD INVESTORS AG (SIAG)
THIS PRESENTATION IS FURNISHED TO YOU ON A CONFIDENTIAL BASIS SOLELY FOR THE PURPOSE OF DECIDING WHETHER OR NOT
YOU WISH TO PROCEED WITH A FURTHER INVESTIGATION OF THE UTICA ROYALTY INTEREST PURCHASE
(THE “PROJECT”). THIS PRESENTATION IS NOT AN INVITATION TO ACQUIRE INTERESTS IN SIAG; OR ANY OTHER ENTITY, NOR DOES IT
CONSTITUTE AN OFFER FOR SALE OR THE SOLICITATION OF AN OFFER TO BUY ANY INTERESTS IN THE LEASE ROYALTIES. IT IS NOT
INTENDED TO FORM THE BASIS OF ANY INVESTMENT DECISION AND SHOULD NOT BE CONSIDERED AS A RECOMMENDATION BY
SIAG OR ANY OTHER PERSON WHO IS AN ISSUER ORDISTRIBUTOR OF THIS PRESENTATION. SUBSCRIPTION FOR INTERESTS WILL BE MADE
SOLELY ON THE BASIS OF THE INFORMATION CONTAINED IN THE PROSPECTUS THIS PRESENTATION DOES NOT PURPORT TO BE
COMPREHENSIVE OR NECESSARILY CONTAIN ALL THE INFORMATION THAT THE RECIPIENT MAY REQUIRE TO MAKE SUCH DECISIONS.
WHILE THE INFORMATION CONTAINED HEREIN HAS BEEN PREPARED IN GOOD FAITH, NO REPRESENTATION, UNDERTAKING,
PROMISE OR WARRANTY, EXPRESS OR IMPLIED, IS OR WILL BE MADE OR GIVEN, AND NO RESPONSIBILITY OR LIABILITY IS OR WILLPROMISE OR WARRANTY, EXPRESS OR IMPLIED, IS OR WILL BE MADE OR GIVEN, AND NO RESPONSIBILITY OR LIABILITY IS OR WILL
BE ACCEPTED BY SIAG, ANY OF THEIR AFFILIATES OR ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS,
SHAREHOLDERS, MEMBERS, MANAGERS, EMPLOYEES, ADVISORS OR AGENTS OR BY ANY OTHER PERSON AS TO OR IN RELATION TO THE
ACCURACY, RELIABILITY OR COMPLETENESS OF THE PRESENTATION OR ANY OTHER INFORMATION OR DATA OF WHATEVER KIND
MADE AVAILABLE TO ANY INTERESTED PARTY OR ITS ADVISORS.THE PRESENTATION INCLUDES CERTAIN STATEMENTS WITH RESPECT TO
THE PROJECT’S PROJECTED PERFORMANCE. ESTIMATES OFFUTURE PERFORMANCE REFLECT VARIOUS ASSUMPTIONS MADE BY SIAGAND/OR
OUTSIDE SOURCES THAT MAY OR MAY NOT PROVE ACCURATE, AS WELL AS THE EXERCISE OF A SUBSTANTIAL DEGREE OF JUDGMENT BY
HIGHPOINT AS TO THE SCOPEAND PRESENTATION OF SUCH INFORMATION. NO REPRESENTATIONS OR WARRANTIES ARE MADE AS TO THE
ACCURACY OF SUCHSTATEMENTS OR ESTIMATES OF ANTICIPATED PERFORMANCE. ACTUAL RESULTS DURING PROJECTION PERIODS MAY
DIFFER SUBSTANTIALLY FROM THOSE PROJECTED. THIS FINANCING OPPORTUNITY WILL NOT BE REGISTERED UNDER THE FINMA; FSA;
UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE OR OTHER SECURITIES LAWS, AND WILL NOT BE APPROVED BY
THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY OTHER FEDERAL OR STATE GOVERNMENTAL OR
SELF‐REGULATORY AGENCY. THE PARTNERSHIP WILL NOT BE REGISTERED UNDER THE UNITED STATES INVESTMENT COMPANY ACT OF
1940, AS AMENDED. NO GOVERNMENTAL OR OTHERAGENCY HAS PASSED OR WILL PASS OPINION ON THE ACCURACY OR ADEQUACY OF
THIS PRESENTATION: T
38. The SIAG Team In Europe and North America
Drilling Companies Operating in Ohio
Top Counties for Shale in Ohio
Government Wins with Shale
Mostly Water and Sand Used in Fracking
One Million Cannot Be Wrong!
39. Frederick Metz Shepperd, CEO
◦ CEO, 30 Years Ohio Oil and Gas Experience
◦ Former CFO of Becker Pumps and Aerzen USA (JV with
Becker) German Pump Manufacturers for Oil and Gas
Applications and Gas Transmission
◦ Global Business and Supply Chain Expertise
Professional and Technical Advisors on Oil andProfessional and Technical Advisors on Oil and
Gas in Europe and Middle East
◦ Shale Oil Development, Oil Refining, Downstream
Trading and Hedging
◦ LNG and CNG Infrastructure
◦ Gas Turbine Power Generation
Collaboration with Families and Friends in the
Industry
40. Local Buying Group
◦ Land Men Responsible for Lease Acquisitions
◦ Local Knowledge and Focused on “Sweet Spot” Long
Before Others
◦ Decades of Experience in Lease Right Procurement
Local Lease Administration
◦ Local Coordinator of Royalty Program for SIAG◦ Local Coordinator of Royalty Program for SIAG
◦ Currently Manages USD 100 Million In Oil and Gas
Leasing Programs
◦ Programs Coordinated With Family Offices, Individual
and Institutional investors
Geological and Technical Support
◦ Former Board Member of Blackstone Energy
Local Network of Experts from the Ohio Oil Patch
41. Drilling CompanyDrilling CompanyDrilling CompanyDrilling Company Location of PermitsLocation of PermitsLocation of PermitsLocation of Permits
American Energy UticaAmerican Energy UticaAmerican Energy UticaAmerican Energy Utica Guernsey, Harrison
Antero ResAntero ResAntero ResAntero Res
Appalachian CorpAppalachian CorpAppalachian CorpAppalachian Corp Monroe, Noble
Anadarko E & P Co. L.P.Anadarko E & P Co. L.P.Anadarko E & P Co. L.P.Anadarko E & P Co. L.P. Coshocton, Guernsey,
Muskingum, Noble
Atlas NobleAtlas NobleAtlas NobleAtlas Noble Columbiana, Harrison
Brammer EngineeringBrammer EngineeringBrammer EngineeringBrammer Engineering Trumbull
Beusa EnergyBeusa EnergyBeusa EnergyBeusa Energy Ashtabula
BP America Prod. Co.BP America Prod. Co.BP America Prod. Co.BP America Prod. Co. Trumbull
CarrizoCarrizoCarrizoCarrizo Guernsey
ChesapeakeChesapeakeChesapeakeChesapeake
Exploration LLCExploration LLCExploration LLCExploration LLC
Carroll, Columbiana, Geauga,
Guernsey, Harrison, Jefferson,
Mahoning, Portage, Stark,
Tuscarawas
ChevronChevronChevronChevron
Appalachia,LLCAppalachia,LLCAppalachia,LLCAppalachia,LLC
Harrison
CNX Gas Co. LLCCNX Gas Co. LLCCNX Gas Co. LLCCNX Gas Co. LLC Jefferson, Mahoning, Monroe,
Noble, Portage, Trumbull,
Tuscarawas
DevonDevonDevonDevon Ashland, Coshocton, Guernsey,
Holmes, Knox, Medina, Wayne,
Eclipse Resources 1 LPEclipse Resources 1 LPEclipse Resources 1 LPEclipse Resources 1 LP Guernsey, Harrison, Monroe,
Noble
EM Energy OhioEM Energy OhioEM Energy OhioEM Energy Ohio Monroe, Washington
EnerVest Operating LLCEnerVest Operating LLCEnerVest Operating LLCEnerVest Operating LLC Carroll, Guernsey, Jefferson,
Muskingum, Noble, Stark,
Tuscarawas
EQT Production Co.EQT Production Co.EQT Production Co.EQT Production Co. Guernsey
Gulfport Energy Corp.Gulfport Energy Corp.Gulfport Energy Corp.Gulfport Energy Corp. Belmont, Guernsey, Harrison,
Halcon OperatingHalcon OperatingHalcon OperatingHalcon Operating Trumbull, Mahoning
Hall DrillingHall DrillingHall DrillingHall Drilling Monroe
Hess Ohio ResourcesHess Ohio ResourcesHess Ohio ResourcesHess Ohio Resources
LLCLLCLLCLLC
Belmont, Guernsey, Harrison,
Jefferson
H G EnergyH G EnergyH G EnergyH G Energy Monroe
Hilcorp Energy CoHilcorp Energy CoHilcorp Energy CoHilcorp Energy Co Columbiana, Mahoning
Mountaineer KeystoneMountaineer KeystoneMountaineer KeystoneMountaineer Keystone Portage
Petroleum Dev. CorpPetroleum Dev. CorpPetroleum Dev. CorpPetroleum Dev. Corp Guernsey, Morgan, Washington
R E Gas DevelopmentR E Gas DevelopmentR E Gas DevelopmentR E Gas Development Carroll, Guernsey, Noble
RiceRiceRiceRice Belmont
Sierra Resources LLCSierra Resources LLCSierra Resources LLCSierra Resources LLC Carroll, Columbiana, Tuscarawas
Statoil USAStatoil USAStatoil USAStatoil USA Monroe
SwepiSwepiSwepiSwepi Columbiana
Triad Hunter LLCTriad Hunter LLCTriad Hunter LLCTriad Hunter LLC Monroe, Washington
XTOXTOXTOXTO Belmont, Monroe
42. County Total Number
of Well Permits
Number of
Producing
wells
Ashland 1 0
Ashtabula 1 0
Belmont 105 23
Carroll 408 223
Columbiana 103 31
Coshocton 5 1
Geauga 1 0
Guernsey 104 32
Harrison 234 61
Holmes 3 0
Jefferson 40 12Jefferson 40 12
Knox 2 0
Mahoning 30 8
Medina 1 0
Monroe 88 17
Morgan 3 0
Muskingum 3 1
Noble 108 34
Portage 15 4
Stark 13 2
Trumbull 15 9
Tuscarawas 17 3
Washington 11 5
Wayne 1 1
Total 1312131213121312 467467467467
43.
44.
45. One Million Wells in the US
Many Used “Fracking” Over the Last 30 Years
Not One Incident of Ground Water Contamination
from Wells (Environmental Protection Agency, 2014)
A “Tense” BattleA “Tense” Battle
◦ Anti Fracking Crowd Speaks in the Subjunctive Tense
Would, Should, Could
◦ Pro Fracking Crowd Speaks in Present and Past Tense
Is, Was, Does
◦ Fear vs. Facts: You be the Judge