Oil and Gas Asset Valuation Decision Analysis Workshop - AIPN

Oil and Gas Asset Valuation
Decision Analysis Workshop
NOVEMBER 1 - 2, 2010
MILLENNIUM HOTEL LONDON KNIGHTSBRIDGE
LONDON, UNITED KINGDOM
2-DAY INTERACTIVE WORKSHOP
This workshop enables legal and commercial oil and gas professionals to understand the basic principles and issues
related to the valuation of upstream oil and gas assets. It offers a combination of theoretical knowledge with
hands-on know how of asset valuation and decision analysis by utilizing a series of problem solving assignments
and case studies. Classroom size is limited to 50 people.
Who Should Attend
The workshop is designed for a broad audience of
upstream oil and gas professionals interested in understanding
petroleum economics and uncertainty
analysis, including but not limited to:
Early Registration Fees
Member: $950 | Non-member: $1,200
Classroom size is limited to 50 people.
Early registration ends September 13, 2010.
After this date, fees will increase by $100.
Geoscientists
Energy Analysts
Planning Analysts
Junior Economists
Petroleum Engineers
Cost Engineers
Controllers
Attorneys
Negotiators
Financial Analysts
Planning Managers
Reservoir Engineers
Accountants
Workshop Chairs
Irena Agalliu, IHS CERA
Chris Moore, Moyes & Co.
Millennium Hotel London Knightsbridge
17 Sloane Street, Knightsbridge
London, United Kingdom
A S S O c I A T I O N O f I N T E R N A T I O N A L P E T R O L E U M N E G O T I A T O R S
www.aipn.org

Workshop Schedule and Program*
Day One - Monday, Nov. 1, 2010
7:30 – 8:30 Coffee and Tea
8:30 – 8:45 Introduction & Course Overview
8:45 – 9:30 Fundamentals of Discounted Cash Flow
Analysis
− After Tax Cash Flow Derivation
− Basic Taxation Principles
9:30 – 10:00 Fundamentals of Discounted Cash Flow
Analysis
− Time Value of Money
− Exercises
10:00 – 10:15 Coffee Break
10:15 – 11:45 Fundamentals of Discounted Cash Flow
Analysis
− Common Economic Indicators
− Sunk Costs
− Other Economic Indicators
− Depreciation Methods
− Net Income v. Net Cash Flow
− Loans
− Real v. Nominal Economics
11:45 – 12:30 Simple Model Construction
12:30 – 1:30 Lunch (provided)
1:30 – 2:00 Upstream Fiscal Systems
− Overview of Global Practices
• Government Contracts
• Main Characteristics of the basic
contract types
− Historical Evolution & Current Trends
2:00 – 2:45 Upstream Fiscal Systems – Royalty/Tax
− Key Elements and Structure
− Fiscal Components & Cash Flow
Generation
− Basis for Fiscal Levies
2:45 – 3:00 Exercises
3:00 – 3:15 Coffee Break
3:15 – 3:45 Upstream Fiscal Systems – Production
Sharing
− Key Elements and Structure
− Fiscal Components & Cash Flow
Generation
− Basis for Fiscal Levies
3:45 – 4:00 Upstream Fiscal Systems – Service
Contract
− Key Elements and Structure
− Fiscal Components & Cash Flow
Generation
− Basis for Fiscal Levies
4:00 – 4:30 Upstream Fiscal Systems
− Additional Fiscal Measures
− Quantitative Measurement of Fiscal
Systems
• Government Take
• State Take
4:30 – 4:45 Upstream Fiscal Systems
− Types of Fiscal Regimes
• Progressive
• Regressive
• Neutral
4:45 – 5:30 Simple Model Construction
*AIPN reserves the right to change the program and speakers unannounced and at any time.
October 15, 2010 – Valuation Workshop Program

Workshop Schedule and Program
(Continued)
Day Two - Tuesday, Nov. 2, 2010
7:30 – 8:30 Coffee and Tea
8:30 – 9:15 Uncertainty Analysis
− Risk Tolerance
− Risk Neutrality
9:15 – 10:00 Choosing the Right Statistic
− Measures of Central Tendency
− Pros and Cons
10:00 – 10:30 Coffee Break
10:30 – 11:00 Assessing the Value of Information
− The value of flexibility
− Uncertainty in project scheduling
11: 00 – 12:30 Interactive workshop
12:30 – 1:30 Lunch (provided)
1:30 – 3:00 Exploration Prospect Valuation
− Competitive Bid Round, Onshore
Petrolia
• Set up, Guidance, Bid Group
Meetings, Submission of Bids
3:00 – 3:30 Coffee Break
3:30 – 4:30 Exploration Prospect Valuation
− Decision and Analysis
• Petrolia Bid Round Results and
Commentary
• MMS Deepwater Gulf of Mexico
Central Planning Area Bid
Analysis, 2003-2009
• Issues and Pitfalls in Upstream
Valuations
4:30 – 5:00 Review and Conclusion
*AIPN reserves the right to change the program and speakers unannounced and at any time.
October 15, 2010 – Valuation Workshop Program

A s s o c i a t i o n o f I n t e r n a t i o n a l P e t r o l e u m N e g o t i a t o r s
Oil and Gas Asset Valuation and Decision Analysis Workshop
Millennium Hotel London Knightsbridge | London, United Kingdom| November 1 - 2, 2010
R E G I S T R AT I O N F O R M
Registration Information - Send your completed registration form with payment information by fax: +1 281-558-7073, e-mail:
aipnevents@aipn.org or mail: AIPN, 11767 Katy Freeway, Suite 412, Houston, TX 77079, USA. PLEASE USE CAPITAL LETTERS ON THIS FORM.
Please indicate:
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Please indicate if your job is legal or commercial oriented: legal commercial
Workshop Fees - Your registration includes workshop materials, lunch and coffee breaks. Your registration does not include hotel and travel
accommodations. All prices listed are in US dollars.
Registration Type by September 13, 2010 after September 13, 2010 Total
AIPN Member
Non-member
Student
$950
$1,200
Sold out
$1,050
$1,300
Sold out
Workshop Fee Total $
Payment Details - Payment can be made by credit card, check (US funds drawn on a US bank only) or wire transfer. Please make checks
payable to AIPN, Houston, USA. Contact the AIPN office for wire transfer information: accounting@aipn.org, additional fees will apply.
I will pay by Credit Card. I will pay by Check. #: I will pay by Wire Transfer.
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Special Needs - Please indicate any special needs below.
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Wheelchair Assistance
Cancellation/Refund Policy: Registration fees are refundable until September 13, 2010 with a $250 administrative charge. After that date, fees are
non-refundable. Timely delegate substitutions will be permitted. Please note: Total amount must be paid in full for registration to be processed.
Please note that by registering for this event you agree to have your contact information printed in the attendee materials; you may have your
photo taken and your likeness may be used in future AIPN promotional materials.