Exhibit 99.2 | |||
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Presentation Outline for | |||
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Slide 1 - Multi-Play, Multi-Pay In the Maverick Basin | |||
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Slide 2 - Corporate Information | |||
- Headquarters: The Exploration Company; 500 North Loop 1604 East, Suite 250; | |||
- Contact: | |||
- 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 about 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 Dec. 31, 2003, and its Form 10-Q for the quarter ended March 31, 2004. 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. | |||
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Slide 3 - TXCO Snapshot |
- Founded 1979 |
- Headquartered in San Antonio since 1984 |
- Nasdaq Smallcap: TXCO |
- Trading Statistics |
- Current 3-month average daily volume -- 72,500 shares |
- 1st Half 2004 recap |
- 14.5 million shares traded |
- High -- $7.19 |
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Slide 4 - TXCO Profile |
- Highly focused on the Maverick Basin |
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Slide 5 - TXCO Growth Strategy |
Increase Shareholder Value Through: |
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Slide 6 - TXCO Maverick Basin Focus Area |
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Slide 7 - Maverick Basin: Prospect Rich |
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Slide 8 - TXCO Capitalization |
- $136 million enterprise value at July 26, 2004* During the presentation Mr. Thomae inadvertently referred to the 27.96 million common shares as "fully-diluted," however, this is the number of shares currently outstanding without dilution considered. |
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Slide 9 - Reserves and Production Rising Referring to production levels -- "We expect the second half to show much stronger growth, although the first half is doing alright." |
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Slide 10 - TXCO's Pipeline Synergy |
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Slide 11 - Updated CAPEX Guidance: Multi-Play, Multi-Pay |
Slide contains two charts: 1) a pie chart showing budget dollars and number of wells for three focus areas and the Taylor well completion; and 2) a bar chart titled 5-Year CAPEX/Drilling Mix. |
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Slide 12 - Multiple Plays -- Multiple Risk Profiles |
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Slide 13 - 3-Year Performance Comparisons |
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Slide 14 - Rolling 3-Year Production Replacement |
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Slide 15 - Strong Cash Flows, Conservative Debt |
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Slide 16 - TXCO Operational Snapshot |
- Leasehold: 646,000 Gross Acres |
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Slide 17 - Maverick Basin Acreage Growth |
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Slide 18 - Georgetown Faults: Repeatable Success |
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Slide 19 - 3-D Seismic Imaging Confirms TXCO's Georgetown Prospects |
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Slide 20 - 3-D Seismic Imaging Confirms TXCO's Georgetown Prospects |
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Slide 21 - 3-D Seismic Imaging Confirms TXCO's Georgetown Prospects |
Slide 22 - Glen Rose: Three Plays in One |
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Slide 23 - The Glen Rose Plays |
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Slide 24 - Expanded Glen Rose Reef Play |
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Slide 25 - Olmos/CBM Play: Coalbed Distribution in Maverick Basin |
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Slide 26 - Maverick Basin's Jurassic Play |
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Slide 27 - Why Own TXCO? |
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Slide 28 - Multi-Play, Multi-Pay In the Maverick Basin |
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Slide 29 - Appendix |
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