Featuring (click image for more information):

Richard J. Miller ASA Richard J. Miller & Associates, Inc.

Why You Should Attend

Oil and gas production in North America has been growing for rapidly over the past decade, helped, in part, by improved technologies for exploration and extraction. While long ranging debates regarding environmental impacts have been a concern for regulators, it is clear that this rapid growth in oil and gas production is likely to continue, creating a ripple effect in both the economic and regulatory environments in which oil and gas companies operate.

On October 4, BVR welcomes expert appraiser, and oil and gas expert, Richard Miller for a look at the valuation challenges posed by current and projected changes in this, one of the fastest growing segments of the North American economy. Given this growth, valuation opportunities are likely to increase for appraisers in the oil and gas sector. Join Miller to learn where the perils and pitfalls lie, and how best to reach a defensible conclusion of value.

Agenda

• Value of Producing Properties
• What are Oil and Gas Rights?
• Types of Rights
• Working Interest – Lessee of oil and gas rights
• Royalty Interest – Lessor of oil and gas rights
• Working Interest – 100% of Costs
• Appraisal to Value
• Cost Approach
• Comparable Sales (Market) Approach
• Income approach – The only really usable method
• Product Prices at date of Evaluation
• Adjustments to Prices/Sales Volumes
• Project using NYMEX trend
• Operating Costs
• Taxes
• Discount Rates

Learning Objectives

• Learn how to define oil and gas rights
• Learn which factors determine key value drivers of these properties
• Understand how property rights function in the marketplace
• Learn how to apply traditional valuation approaches to oil & gas properties
• Learn where common appraisal mistakes occur and how to void these costly errors

Single Connection Policy
Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy
Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

CPE Processing Fees may be bypassed by entering a valid, unused CPE Authorization Code (for single event purchasers) or by logging into BVR's website (for subscribers to BVR's Training Series).

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CPE Credits for Unlimited Listeners
Have as many eyes and ears take advantage of your registered connection as possible: CE credit is available for an unlimited number of listeners to any registered line. To add listeners for CE credit, please complete the Additional Listener form included on your webinar dial-in instruction email. We'll send dial-in instructions one to two days before our program, and will provide information directly to those listeners you identify approximately one hour before our program.

CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 1.5 Credit Hours (Specialized Knowledge & Applications)

Business Valuation Resources, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org. www.nasba.org NASBA Sponsor

All BVR training events are eligible for continuing education credits from the Exit Planning Institute's Certified Exit Planning Advisor (CEPA) program. Credits are based on a 50-minute hour. Final acceptance is at the discretion of the Exit Planning Institute. www.exit-planning-institute.org

Training Packs

BVR's Training Packs are an indispensable addition to any valuation reference library, or the perfect alternative when you cannot attend the session live.

Each Training Pack is delivered approximately 2-4 weeks after the program has aired, and includes:

• Video file (MP4)
• Audio file (MP3
• Transcript of the presentation
• A copy of the presentation slides
• A copy of the reading materials, visual aids, and handouts

Please note, CPE is not available with Training Packs.