Exhibit 99.3 | |||
TXCO's 8th Oil and Gas Conference Presentation Outline | |||
Slide 1 - Multi-Play, Multi-Pay in the Maverick Basin | |||
Slide 2 - Corporate Information | |||
- Corporate Headquarters: The Exploration Company; 500 North Loop 1604 East, Suite 250; | |||
- Contacts: James E. Sigmon, President and CEO, jsigmon@txco.com; Roberto R. Thomae, VP- Capital Markets, bthomae@txco.com | |||
- TXCO - NASDAQ Listed | |||
- Forward-Looking Information - Information presented herein which is not historical, including | |||
statements regarding TXCO's or management's intentions, hopes, beliefs, expectations, representations, projections, estimations, plans or predictions of the future, are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include those relating to estimated financial results, or expected prices, production volumes, reserve levels and number of drilling locations. It is important to note that actual results may differ materially from the results predicted in any such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the costs of exploring and developing new oil and natural gas reserves, the price for which such reserves can be sold, environmental concerns effecting the drilling of oil and natural gas wells, as well as general market conditions, competition and pricing. More information ab out potential factors that could affect the company's operating and financial results is included in TXCO's annual report on Form 10-K for the year ended December 31, 2002, and its Form 10-Q for the quarter ended March 31, 2003. These reports and TXCO's previously filed documents are on file at the Securities and Exchange Commission and can be viewed on TXCO's website at www.txco.com, copies of which are available from the Company without charge. | |||
Slide 3 - TXCO Snapshot | |||
- Nasdaq Smallcap - TXCO | |||
- Issued Shares - 20 Million | |||
- Founded - 1979 | |||
- Headquarters - San Antonio, Texas | |||
- Web Site: www.txco.com | |||
TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 4 - TXCO Snapshot |
Current Operations |
- Leasehold: 572,000 Gross Acres |
- Maverick Basin - 480,000 acres |
- Largest Maverick Basin Mineral Leaseholder |
- Williston Basin - 92,000 acres |
- Reserve Make Up at June 30 |
- 24.7 Bcfe - 59% Gas and 41% Oil |
- 59% Proved Developed |
- Net Daily Production |
- 17.9 MMcfe at June 30 - Up 27% from YE 2002 |
- 63% Oil - 1,886 BOPD |
- 37% Gas - 6.6 MMcfd |
Slide 5 - TXCO's Growth Strategy |
- Focus Exploration Efforts |
- Accumulate Large Leasehold Positions |
In Core Area |
- Operate Whenever Possible - Currently |
More Than 85% |
- Use 3-D Seismic and Horizontal Drilling |
To Reduce Risk |
Slide 6 - Focused on Maverick Basin Potential |
TXCO's 8th Oil and Gas Conference Presentation Outline |
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TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 10 - Maverick Basin Acreage Growth |
TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 16 - . . . and Grows |
TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 23 - 3-D Seismic Cross Section Shows Faults, Shear Zone |
TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 31 - Deep Jurassic Basins |
TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 40 - Total Assets Increasing |
TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 48 - Proved Reserves Continue Growth |
TXCO's 8th Oil and Gas Conference Presentation Outline |
Slide 54 - 2nd Half CAPEX Targets |
Slide 56 - Multi-Play, Multi-Pay in the Maverick Basin |