Corporate Profile (TSX: LEG) Common Shares 199.7 million Options & Restricted Shares 9.6 million Insider Ownership (Fully Diluted) 6.2% Enterprise Value 2.4 billion Average Liquidity (TSX) 1.5 million shares/day Net Debt (estimated at…
Historical Performance Funds Flow Growth P+P Reserve Growth 500 2.40 140 0.84 Funds Flow Funds Flow per Share 450 P+P Reserves P+P Reserves per Share Proved Plus Probable Reserves per Share Proved Plus Probable Reserves…
Focused + Light Oil Asset Base Two core areas - each area has focused development assets and new play MAXHAMISH development opportunities: Williston Basin Development Taylorton, Heward, Star Valley, Spearfish, Frys/Antler,…
High Quality Light Oil Plays Oil DCET NPV Capital (2) Weighting Net Cost IP30 IRR 10% BT Payout Efficiency Play (%) API Locations (M) (BOED) (%) (M) (yrs) (/BOED) Midale 85 38 351 2,200 165 120 2,415 0.9 22,000 Bakken (3) 90 42…
Significant Light Oil Resource Base Legacy Working Interest Volumes 450 400 350 300 MMBbl 250 200 150 100 50 0 High Estimate Best Estimate P+P Reserves Sproule Contingent Resource LEG Contingent Resource Waterflood…
Potential Value Various Capital Timeframes 10000 9000 35.42/share 34.39/share 33.81/share NPV 10% BTAX (MM) Assumptions for all cases: 8000 Legacy internal 7000 economic valuation 6000 Waterflood Contingent/waterfllood 5000…
Increased Guidance Drill approximately 162 gross (137 net) wells exclusively 2014 Capital Budget Breakdown targeting light oil 390 Million Total 2014 Guidance Capital Expenditures: 390 million Avg. rate: 23,100 Boe per day, 22%…
Williston Basin Resource Plays + Conventional Production of 20,000 Boe per day High quality light oil, averaging 38o API SOUTHEAST 1,980 net drilling locations on 464,000 SASKATCHEWAN net acres Multiple play types: Development…
Steelman/Pinto Midale High impact conventional play with S.E. SASK. unconventional completion technique MANITOBA Light oil (34-40 API) E G E GV I J GV G IIIG VVG AJ DD DJ V EEA V J G G G IG G G GGE A JG G EVD UVGJ…
Turner Valley Rundle 40o API light oil, liquids-rich solution and non-associated natural gas with SOUTHERN U G G low historical oil decline rate of 4% R4 G M JV IG G R3 F U G G G R2W5M ALBERTA ME E M S J S EVD J UV G D F…
Pierson + North Dakota Spearfish Play Attributes S.E. SASK. MANITOBA 1000 m depth G V E E JJ G G EE E G 12 MMBbl DOIP per section R29 R27 R26 R25 R24 R23 R22W1M A VJ JE MEJ J J E GG R28 G EEE EVE EJ VGJEG E VSVJ G E V GU…
Conventional Mississippian Plays Main producing and target zones include Souris Valley, SOUTHEAST SASKATCHEWAN Tilston, Alida, Frobisher and Midale MANITOBA Wells not fracd, payouts 12 months or less Average well cost 1.1 million…
Waterflood Benefits Add reserves cost-effectively Typically double primary recovery factor Finding & development costs low double digit Leverage existing lands and infrastructure Moderates declines Oil production plateaus and can…
Impact of Waterflood to Legacy Gross OOIP WF Reserves NPV10% BT Area (MMBbl) Net Sections (MMBbl) (MM) Bakken 377.3 80.5 30.0 954.7 Torquay 219.5 33.3 15.4 394.9 Spearfish 599.6 51.7 52.7 613.1 Midale 177.6 36.1 15.6 428.1 Total…
Independent Reserve Engineers Contact Information Sproule Associates Limited 4400, 525 8th Avenue SW Bank Syndicate Eighth Avenue Place BMO Capital Markets Calgary, Alberta T2P 1G1 National Bank The Bank of Nova Scotia Tel:…
APPENDIX 20
2013 Reserves, FD&A and NAV 2013 Reserves Proven + Probable (P+P) 117.2 MMBoe +24% YoY Total Proved 66.7 MMBoe Total Proved/P+P 57% NAV Calculation (at December 31, 2013) PDP/Total Proved 71% (MM except share and per share amounts)…
Southern Alberta Bakken BANFF DISCOVERY WELL Alberta Basin Bakken Play IP90: 305 BOPD CURR: 224 BOPDR25 F V G C R23W4M BANFF WELL SOUTHERN SOUTHERN F ALBERTA V G IP90: 330 BOPD ALBERTA E E CUM: 81 MBBL J G EE F F Curr: 334…
Maxhamish, BC Chinkeh F F F FF NORTHWEST FV U F TERRITORIES F F F U G F G F F UV FK C Chinkeh Formation light oil resource play A D C FC G UVU F B F F G A F F F Significant resource of 42o API light sweet oil, C F F…
Heward + Taylorton Waterflood Heward Heward Oil Production Pilot Waterflood Response Start of Injection Taylorton Taylorton Pilot Waterflood Oil Production Response Start of Injection 24
Frys + Pierson + Steelman Waterflood Frys Frys Oil Production Response Pilot Waterflood Start of Injection Pierson Steelman Proposed Pilot Proposed Pilot Waterflood Waterflood Pilot Waterflood 25
Economic Results Single Section Result Primary Waterflood Total Reserves (MBbl) 547.9 518.3 1066.2 Reserve Life (yrs) 17 50 50 Recovery Factor (%) 11.1 10.5 21.6 Capital (M) 17,100 900 18,000 NPV 10% BT (M) 15,426 14,341 29,767 Payout…
Capture of Large Light Oil Resource Gross Discovered Oil Originally In-Place (DOIIP) (MBbl) 1538.6 1659.8 1871.4 332.8 Conventional Total Resource Sproule CORA LEG CORA CORA = Contingent Oil Resource Assessment See notes,…
Contingent Oil Resource Assessment (CORA)* Company Working Interest Ultimate Recoverable Oil (2) Discovered Contingent Oil Resources (3) Portion of Discovered Lands Oil Initially Low Best High Low Best High Attributed in-Place…
Disclosure for Contingent Resource Assessment Definitions and Preparation The Discovered Oil Initially In-Place and Discovered Contingent Oil Resource assessments in the Sproule report were prepared in accordance with the definitions,…
Disclosure for Contingent Resource Assessment Definitions and Preparation - continued Preparation All estimates of Contingent Resources represent gross resources, meaning the company's working interest share in the Reserves or…
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