BRS Resources Ltd. - edg1.vcall.comedg1.vcall.com/slides/164755/slides.pdf · Marradi 1 Irma-Carola...

BRS Resources Ltd.

Enercom London Oil & Gas Conference

June 16, 2011

Forward Looking Statements

Statements made throughout this presentation constitute forward-looking statements as defined in the Private

Securities Litigation Reform Act of 1995. Words such as “estimate”, “expect”, “hope”, “plan”, “may”, “will”, “project”,

“future”, “believe” and other words indicating assumptions or projections or future plans are considered forward-

looking statements. These statements involve known and unknown risks, uncertainties, and possibly unforeseen

events and factors that may cause actual results and/or events to differ from what was originally anticipated.

Reasonable assumptions were/are the basis of all the forward-looking statements included in this presentation, but no

assurances can be given that all or any of these assumptions will be realized, in whole or in part. These forward-

looking statements are made only as of the date of this presentation and BRS Resources cautions listeners/readers

that the assumptions used in the presentation of such information, although considered reasonable at the time of

preparation, are subject to risks and uncertainties, may prove to be inaccurate, imprecise, other than originally

anticipated, and as a result, undue reliance should not be placed on forward-looking statements. BRS Resources

actual results, performance or accomplishments may differ materially from those described, illustrated and expressed

in the forward-looking statements within this presentation, and this, no assurance can be given that any or all of the

objectives, events or results mentioned in forward-looking statements will take place, or how they will impact BRS

Resources in any way, negative or positive, if they do or do not transpire. Additionally, securities legislation in the

Province of Ontario, as well as other jurisdictions, affords investors remedies for rescission and/or damages when

such solutions are pursued within the time limit allotted by the securities legislation of the investor’s

jurisdiction/province. For additional information on these rights of rescission/damages seeking legal council would be

prudent.

As this presentation is based solely on current views regarding data, conditions, events as they exist on the specific

date of this presentation, BRS Resources Ltd. does not undertake any responsibility, real or implied to update or

revise any of the information, conclusions, representations, assumptions or projections included herein, and in no way

do any forward-looking statements in this presentation offer or imply any guarantee of results. The comments

provided within this presentation are for information purposes only and in no way constitutes an invitation or

suggestion to purchase the securities of BRS Resources Ltd. or to be distributed with similar intent.

This presentation supersedes any and all previous presentations from BRS Resources Ltd.

Corporate Information

■ Stock symbol: (TSXV) BRS

■ Shares Outstanding - 31,877,214

■ Price - $0.25 (CDN)

■ Market Capitalization - approx. $8,000,000

■ Major Asset – Interest in AleAnna Resources

BRS Management

■ Steven D. Moore – President/CEO, BRS ResourcesMoore has more than 32 years of financial, operational, marketing and communication experience. He held a number of other positions in the energy industry,

including chief financial officer of Saxon Oil Company and director of communication and strategic planning for Halliburton Company. He holds a BS degree in

Mechanical Engineering and an MBA from Southern Methodist University in Dallas, Texas.

■ Sioux Sinnott – President, AleAnna ResourcesSinnott also servces as president of Bonanza Resources Inc., a wholly-owned subsidiary of BRS Resources Ltd. Sinnott has over 35 years of international oil

and gas experience. Previously she was the president of Heartland Rig International (HRI) Inc., a global manufacturer of dril ling rigs and equipment. Before

founding HRI, she held positions at Arco Oil and Gas, Exxon Neftegaz Limited, Nimir Petroleum and Petrosakh USA. Her expertise is in project management

and she attended Southern Methodist University in Dallas, Texas.

■ Richard Green – Technical Advisor/Director, BRS ResourcesGreen has over 36 years of experience in the oil and gas industry. He was president/CEO of Saxon Oil Company and Sr. vice- president of LaRoche Petroleum

Consultants Ltd., a private Texas oil and gas consulting corporation. He has worked for Shell Oil Company and several independent oil companies and

founded his own exploration and production firm. Green is a graduate from Kansas State University with a BS degree in Geology .

■ Michael Noonan – CFO, BRS ResourcesNoonan also serves on the management team of Sky Petroleum, Inc. Noonan has held in senior positions at Integrated Electrical Services and Sterling

Chemicals. He has gained experience with a variety of public entities on all the major exchanges including NYSE, Nasdaq and AMEX. He received a MBA from

Athabasca University in Alberta, Canada, and a BA in Business Administration from Simon Fraser University in British Columbia, Canada and executive JD

degree from Concord University School of Law.

■ David Russell – Director of IR/Corp Communication, BRS ResourcesRussell has been performing investor relations and corporate finance duties for several companies since 1995, most notably serving for 10 years as the

Director of Investor Relations for Ultra Petroleum Corp.

AleAnna Acquisition■ Independent E&P company operating exclusively in Italy

■ Leading position among Italian E&P companies

■ One of the largest leaseholders onshore Italy

■ Experienced, multi-national management and technical teams with

offices in Italy and U.S.

■ 11 permits – 1,400 km2 (800,000 acres)

■ 1st 3D seismic survey completed in 2009 at Corte dei Signori

■ 15% interest in AleAnna Resources before payout

■ Back-in of another 20% interest after payout

■ Carried interest in the first well to be drilled

■ Proportionate share of $12 million of completed 3D

seismic surveys

■ Proportionate share of AleAnna Resources’ other assets

15% Acquisition of AleAnna(49% BRS / 51% Bluescape)

Italy Natural Gas

2010 avg. - $10.95/mcf

2011 avg. - $11.69/mcf

U.S. Natural Gas

$4.50/mcf

Why Italy?Price

Natural gas is 2 to 3 times the price as in the U.S.

Why Italy?Demand

Italy imports 80% of its daily energy requirements

Po Valley Basin

(Northern Italy)

9 Exploration Blocks

611,000 Acres

Bradano Basin

(Southern Italy)

2 Exploration Blocks

155,000 Acres

Why Italy?Premium Locations

Po Valley Index Map Showing AleAnna Resources Blocks

Santerno

Amelia Mare

Porto Garibaldi-Agostino

Armida

Ada 2dir

Gaia 1

Chioggia Mare 1

Dorotea 1

Aida 1

Giuditta 1

Attila 1

Donatella 1

Ilaria 1

Fabiola 1

Agnese 1

Rebecca 1

Donatella Ovest 1

Marradi 1

Irma-Carola

Mariangela 1a

Adele 1

Azzurra 1

Montalbano-Malalbergo

Collecchio

Vigatto

Traversetolo

San Bartolomeo

Cusano Milanino

Marzeno

Poggio Rusco

Seregna

Cernusco

Tribiano

CaleppioPandino

Gandini

Agnadello

Premenugo

Brazzuto Castellazzo

Conterico 1

Ripalta

Cremona Sud

Reggio Emilia

Rubiera

Bertolani 1

Scandiano

Portile

San Martino

Muratori

Cotignola

San Potito

13 Bcf (4 wells)

112 Bcf (27 wells)

Sergnano

Brugherio

Merlino

Lambrate

Budrio Est

Gallignano 2Soncino

Orzivecchi

Ovanengo

Orzinuovi

San Gervasio 1

Piadena Ovest

Piadena Est

Rottofreno

Castel San Giovanni 1

QuartoPontenure

Colombarola

Cortemaggiore

Busseto

Malossa

Romanengo

Pomposa

Manara

Minerbio

Selva

8 Bcf (2 wells)

Trenzano 1 Maclodio

Montirone

Bagnolo Mella

Leno

Bordolano

Medesano

Monte Cantiere

Vetta

Rio Lombasino

Rio Fontane

Monte delle Vigne

Poggio Castione Corniglio 1

Valparola

Rio Ferdane

Fontevivo-Bellena

Priorato 1

Ghiara 1d

Podenzano-San Giorgio Piacentino

Salsomaggiore

Spilamberto

Gaggiano

Linarolo 1

Robecco 1

Casteggio

Settala

CignonePessa

Barzaniga

Oltolina

Soresina

CaviagaCornegliano

Pontetidone

Torrente Riglio 1

Porporano 1

Palazzetto 1

Rivalta 1d

Formigine 1

Solignano 3

Castelvetro 1

Quadrelli 1

Rallio

Montechino-Velleja

Ozzano-Vizzola

Vallezza

Torrente Baganza

Ca Dell'Onesta 2

Medola

Ca Boldrini

Barigazzo

Trignano

Grecchia

Ca Bellavista

Salgastri

Bombiana

Gaggiola

Molinazzo

Pietramala

Castel dell'Alpi

Bova

Imola

Ravizza 1

San Giovanni 1

Bagnolo In Piano

Correggio

San Giacomo 1

Cavone

Muzza

Poggetto

San Pietro in Casale

Monestirolo

Vignola 1

Sabbioncello

MigliarinoBottoni

Gallare

Grignano Polesine

Villadose

Agosta 1dir

Vallezzetta

Tresigallo

Porto Verrara

Travasona 1

Longastrino 2

Bando

Alfonsine

San Savino

Valle Dane

Abbadesse 1dir

Cesenatico Mare

Morena

Ravenna

RavennaMare Sud

Angela/Angelina

366 Bcf (18 wells)

34 Bcf (3 wells)Baldina

Ravenna Mare-Punta Marina

150 Bcf (15 wells)

Porto Corsini

ZorabiniPorto CorsiniMare Ovest

881 Bcf (29 wells)

Tre Motte Dossodegli Angeli

1,100 Bcf (32 wells)

Diana74 Bcf (3 wells)

Antares39 Bcf (12 wells)

Morgana 1

Porto CorsiniMare Sud

Porto CorsiniMare Est

957 Bcf (66 wells)

Cervia/Arianna765 Bcf (48 wells)

Anemone

Canonica d'Adda 1

Longanesi 1

Vallicella

Montalbano

46 Bcf (7 wells)

52 Bcf (16 wells)

127 Bcf (30 wells)

34 Bcf (20 wells)

13 Bcf (1 well)

6 Bcf (2 wells)

5 Bcf (10 wells)

38 Bcf (3 wells)

131 MMcf (1 well)

50 MMcf (1 well)

1 Bcf (2 wells)855 MMcf (1 well)

27 Bcf (2 wells)1.5 Bcf (1 well)

0 MMcf (1 well)

4.4 Bcf (2 wells)

438 MMcf (1 well)

2.6 Bcf (3 wells)

600 MMcf (3 wells)

4 Bcf (4 wells)

98 MMcf (2 wells)

23 Bcf (5 wells)

26 Bcf (3 wells)

159 Bcf (11 wells)

7.7 Bcf (3 wells)

4 Bcf (12 wells)

Good Gas (to much H2S)

203 MMBO + 71 Bcf (29 wells)

(4 Wells)0 MBO + 0 MMcf

(1 Well)0 MBO + 0 MMcf

(4 Wells)2,370 MBO + 260 MMcf



(11 Wells)9 Bcf + 30 MBO

(10 Wells)26 MMBO + 171 Bcf

(1 Well)3 Bcf + 41 MBO




106 Bcf (15 wells)

159 Bcf (11 wells)


260 MMcf (3 wells)

766 MMcf (3 wells)

429 Bcf (54 wells)

98 Bcf (12 wells)

21 Bcf (5 wells)

5.3 Bcf (10 wells)

2.5 Bcf (2 wells)




671 MMcf (2wells)



385 MMcf (1 well)


(57 Wells)535 Bcf + 11,920 MBO








117 MMcf (3 wells) (1 Well)Tstd 695 Mcfd

(3 Wells)120 MBO + 1 Bcf


632 MMcf (1 well)









75 MMcf (1 well)

11 Bcf (3 wells)

1.7 Bcf (1 well)

363 Bcf + 1 MMBO (28 wells)





402 MMcf (5 wells)

(169 Wells)1,040 MBO + 2,699 MMcf










(?? Well)0 MBO + 8 MMcf

(16 Wells)? MBO + ? MMcf

3 Bcf (? Wells)

(19 Wells)20 Bcf est

(11 Wells)? MBO + ? MMcf

(4 Wells)? MBO + ? MMcf 777 MMcf (1 Well)

(?? Wells)2.6 Bcf + 130 MBO


(1 deep Well)0 MBO + 0 MMcf


(2 deep Wells)0 MBO + 0 MMcf

255 Bcf (32 wells)


(20 deep Wells)15.7 MMBO + 2 Bcf

2.5 Bcf (3 wells)

1.8 Bcf (1 well)

848 MMcf (1 well)

18 Bcf (14 wells)

13 Bcf (15 wells)

84 Bcf (17 wells)

440 Bcf (81 wells)

706 MMcf (2 wells)

35 Bcf (1 well)

90 Bcf (10 wells)

69 Bcf (10 wells)

4.5 Bcf (1 well)

5.5 Bcf (1 well)

12 Bcf (4 wells)



318 MMcf (1 well)

(1 Well)NEW FIELD DISCOVERY


693 MMcf (3 wells)

1.8 Bcf (5 wells)

307 Bcf (23 wells)

2.9 Bcf (1 well)

88 MMcf (7 wells)

1 Well - 15 MMcfd, 3 zonesNEW FIELD DISCOVERY

616 MMcf (4 wells)

1.6 Bcf (1 well)

796 Bcf (44 wells)

2.6 Bcf (2 wells)

777 MMcf (2 wells)

(1 Well - NON-COMMERCIAL)0 MMcf + 0 MBO

(2 Wells - FARO 10 MMcfd)NEW FIELD DISCOVERY

(2 Wells - Est 100 Bcf)NEW FIELD DISCOVERY

30 Bcf (7 wells)

78 Bcf (13 well)

in a deep test(2 zones - Deemed limited reserv oir)

Tstd 1,628 Mcfd Shallow

1 Well - 20 MMcfdNEW FIELD OFFSET

29 Bcf (5 wells)

31 Bcf (5 wells)

12 Bcf (16 wells)

100 MMcf (1 well)

28 Bcf (4 wells)

318 Bcf (1 well)

GENOA

MARINA DI CARRARA

RICCIONE

RIMINI

VIGEVANO

LA SPEZIA

CESENA

MESTRE

CREMA

LODI

CREMONA

PIACENZA

PAVIA

BRESCIA

TREVIGLIO

RHO

TREZZO SULL ADDA

MONZA

PADUA

LONIGO

VICENZA

PARMA

TORTONA

REGGIO NELL' EMILIA

CERVIA

FORLI

ROVIGO

PALAZZOLO SULL'OGLIO

MANTUA

VERONA

MODENA

VENICE

BOLOGNA

RAVENNA

FERRARA

FANTOZZA

MOLINO

BUGIA

BELGIOIOSOTRE PONTILE SALINE

PONTE DEI GRILLI

PONTE DEL DIAVOLO

CORTE DEI SIGNORI

EASTERN AREA

CENTRAL AREA

WESTERN AREA

Po Valley Index Map Legend

ARLLC PERMITS

ARLLC APPLICATIONS

GAS FIELDS

OIL FIELD

OIL & GAS FIELD

CITIES

COAST LINES

RIVERS

ROADS

Po Valley Index Map Legend

ARLLC PERMITS

ARLLC APPLICATIONS

GAS FIELDS

OIL FIELD

OIL & GAS FIELD

CITIES

COAST LINES

RIVERS

ROADS

METERS

0 8,000 16,000 24,000

PETRA 1/4/2011 3:46:30 PM

Onshore Po ValleySignificant Oil and Gas Discoveries

455 Bcf 385 Bcf

83 Bcf

680 Bcf

120 Bcf

100 Bcf

765 Bcf

1150 Bcf

450 Bcf

74 Bcf

370 Bcf

Why Italy?Timing

Environmental

Study Filed

Environmental

Study Approved

Well Drilling

Activity

Seismic

ProgramMINISTRY AWARD

Exploration Permit

• CORTE DEI SIGNORI

• BELGIOIOSO

• BUGIA

• FANTOZZA

• MOLINO

• PONTE DEL DIAVOLO

• PONTE DEI GRILLI

• TORRENTE ACQUA

FREDDA


COMP

• PONTE DEL DIAVOLO

2011 (in progress)

• FANTOZZA

2011/2012

• PONTE DEI GRILLI

2011/2012

12 MONTHS TO

START SEISMIC

ACTIVITY

36 MONTHS TO START DRILLING

EXPLORATION PERMIT PERIOD

6 YEARS(12 MONTHS TO START SEISMIC ACTIVITY)

(36 MONTHS TO START DRILLING)


2011

2012

Award Pending

APPLICATION PERIOD

• PALAZZO SAN

GERVASIO

• LE SALINE

• TRE PONTI

Why Italy?3D Seismic

■ Superior imaging and resolution of reservoirs

■ Optimizes reserves per well

■ Superior technology not widely employed in onshore Italy

■ AVO processing used to improve image of gas reservoirs

■ Minimizes number of wells required

■ Minimizes surface environmental impact

■ Minimizes water production

■ Increases probability of successful exploration and production

■ Maximizes profitability

■ Allows accurate imaging of Miocene and deeper horizons

■ Gives detailed surface elevation control

Why Italy?

■ Reserves potential — Reserves are 2 to 3 times that of a typical U.S. well

■ Low drilling density — 1 well per every 10 sq miles

■ Infrastructure in place — Pipeline within 1/4 mile of 1st well

■ Value — Moderate upfront cost to capture substantial oil & gas reserves

Exploration Permit awarded March 28, 2008

249.4 km2 (61,638 acres)

6 year exploration period

130 km2 (50 sq mi) 3D seismic acquired in

2009

Well to be drilled 2nd half of 2011

Corte dei Signori Block

Gallare

Scale:

0.5 KM

LOW CASE MEDIUM CASE HIGH CASE

P10 P50 P90

6,000 6,000 6,000 depth (feet)

402 402 402 Area (acres)

20 30 40 Thickness (feet)

3,000 3,000 3,000 BHP (PSI)

28% 28% 29% Porosity

38% 35% 32% Sw

60% 65% 75% Est. Recovery Eff.

Water Water Depletion Drive

0.85 0.85 0.85 Z factor

593 593 593 Temp A

1,597 1,675 1,815 MCF/AC-FT

5,162,843 8,795,570 14,661,761 Mcf Recoverable

146,173 249,025 415,112 M mtrs3 Recoverable

Gallare Field: Estimated Remaining Gas Reserves

Seismic Line In Corte dei Signori

Gallare #1

12/29/1972

4,956 m TD

Gallare Field

Structure & Pay

Pliocene

Prospect

Plio-Pleistocene

Unconformity

Miocene-

Pliocene

Unconformity

Trava #1

11/14/2001

1,503 m TD

Miocene

Prospect

4 Km

Miocene

Prospect

Miocene Prospect

Miocene-

Pliocene

Unconformity

Pliocene Prospect: Identified Potential


P10 P50 P90

3,110 3,110 3,110 depth (feet)

111 434 434 Area (acres)


1,650 1,650 1,650 BHP (PSI)


55% 40% 30% Sw



0.89 0.89 0.89 Z factor

565 565 565 Temp A

457 761 1,065 MCF/AC-FT

1,141,966 13,664,261 43,432,718 Mcf Recoverable

32,332 386,870 1,229,692 M mtrs3 Recoverable

Miocene Prospect: Identified Potential


P10 P50 P90

5,315 5,315 5,315 depth (feet)

345 1024 2193 Area (acres)


3,100 3,100 3,100 BHP (PSI)


55% 40% 30% Sw



0.86 0.86 0.86 Z factor

587 587 587 Temp A

854 1,709 2,193 MCF/AC-FT

5,925,054 76,207,068 483,338,405 Mcf Recoverable

167,754 2,157,618 13,684,553 M mtrs3 Recoverable

Corte dei Signori Block: Identified Potential

* Note: Third-party reports by Chapman Engineering and DREAM confirm medium case reserves and classify reserves as Proven Undeveloped (or P1).

** Note: One directional exploratory well will test both Trava objectives.

*** Note: Seismic data suggests 3 to 5 additional leads exist with 2,000 to 5,000 Mcf (70 to 150 M mtrs3) of reserve potential.


P10 P50 P90

Gallare Pliocene (P1)

* 5,162,843 8,795,570 14,661,761 Mcf Recoverable

146,173 249,025 415,112 M mtrs3 Recoverable

Gallare Miocene 8,716,916 41,970,336 105,463,921 Mcf Recoverable


SW Gallare Miocene 9,598,393 42,363,276 107,833,794 Mcf Recoverable


Trava Pliocene ** 1,141,966 13,664,261 43,432,718 Mcf Recoverable

32,332 386,870 1,229,692 M mtrs3 Recoverable

Trava Miocene ** 5,925,054 76,207,068 483,338,405 Mcf Recoverable


TOTAL *** 30,545,172 183,000,511 754,730,599 Mcf Recoverable


Financial Modeling

$10 per mcf, less 11% royalty(in 000,000)

Working

Interest 150 bcf 250 bcf 500 bcf 1 tcf 2 tcf

100% $1,335 $2,225 $4,450 $8,900 $17,800

17% $227 $378 $757 $1,513 $3,026

$3 per mcf in the ground(in 000,000)

Working

Interest 150 bcf 250 bcf 500 bcf 1 tcf 2 tcf

100% $450 $750 $1,500 $3,000 $6,000

17% $77 $128 $255 $510 $1,020

Hypothetical Value of Product in the Ground

(does not include time value of money or drilling and operating costs)

Financial Modeling4 production concessions with 4 wells per concession

and an EUR of 10 BCFG/well.

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

U.S

. D

olla

rs (

000

's)

Year

CAPEX

Net RevenueRisked Unrisked

ROI 7.35 9.52

IRR 98% 136%

PV(10)

Working

Interest Risked Unrisked

100% $3.7 billion $8.3 billion

17% $630 million $1.4 billion

Summary Gain immediate significant position in two of the most

prospective basins in Europe

Po Valley Basin - 7 permits and 2 applications

Bradano Basin - 1 permit and 1 application

On trend with significant existing production

Existing undeveloped discoveries in 5 blocks

Participation in drilling of a PUD (~12-20 BCFG)

High reserve potential to be identified using 3D seismic data

Infrastructure is already in place

Higher gas price than NYMEX

BRS Resources Ltd. - edg1.vcall.comedg1.vcall.com/slides/164755/slides.pdf · Marradi 1 Irma-Carola...

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