Management & Board of Directors MANAGEMENT BOARD OF DIRECTORS Murray D. McCartney President & CEO, Director Gordon Kettleson Chairman 34 years petroleum industry experience in both private and public Founding Director and previous CEO…
Corporate Strategy Generate Repeatable Growth in Core Areas Q4 2013 sales volumes 1,667 boepd from 2 basins; Tierra del Fuego & San Jorge April 2014 10 well TDF drilling program starts (8 development + 2 exploration) 1 Forecast base…
Crown Point Valuation Metrics Options: : Options outstanding: 7,585,000 Average option strike price: 0.83 3-month average daily trading volume: 353,000 1-month average daily trading volume: 311,000 Share price* 0.92 2P PV10BT…
Market Driver Argentinas Growing Energy Deficit Source G&G Energy Consultants, Buenos Aires December 2013 7
Asset Overview Tierra del Fuego (Austral Basin, 25.78%) Core producing asset (1,521 boepd net) Q4 - 13 South America 500,000 acres (126,000 net) 10 well drilling program begins April 20, 2014 Cash flow engine (high IRRs, quick…
Tierra del Fuego High Quality Natural Gas Assets in a Rising Commodity Price Environment 9
Tierra del Fuego (25.78% W.I.) Concession Map Rio Cullen Concessions Assets purchased in mid-2012 Oil pools Gas pools Main gas pipeline No drilling since 2011 because of ARGENTINA Gas plant contract length and historical poor Oil…
Tierra del Fuego Development & Exploration Las Violetas Concessions Large drilling inventory Faults Gas field Exploration, step-out, re-entry Gas/oil upside ARGENTINA Oil field and development 3D seismic Buenos Aires Initial…
Las Violetas Historical Averages with a Gas Plus Pricing Scenario USD 4.10/mcf Flat Price (Base Case*) Las Violetas Historical Type Gas Well Average Well Las Violetas Historical Type Gas Well Good Well 6,000 2,500 Gas mcfd 5,000 Gas…
Building Production: Las Violetas Development Program (Los Flamencos Field) Los Flamencos Field Faults 3D edge Gas/oil Gas wells Fracture locs. Locations No sand 2 km 8 development wells + 4 re-entry fracs 13
Exploration Drilling: Puesto Quince, PQX-3 Well PQX-3 is targeting a large undrilled fault block adjacent to producing wells Prospective area is 50 square Concessions Faults kilometres in size Gas field Gas/oil upside Analogous to…
La Marina Compression Plant TURBO-COMPRESSOR LA MARINA COMPRESSION PLANT CONTROL PANEL HOUSE Capable of 105 mmcf/d into San Martin pipeline Owned by Tierra del Fuego JV Crown Point 25.78% 15
Cerro de Los Leones High Impact Conventional Exploration & Vaca Muerta Oil Shale Upside 16
Cerro de Los Leones (100% W.I.) North Neuqun Basin Oil Rich Neighbourhood High Impact Upside Exposure ARGENTINA Concession Prospective for both conventional and Pools Buenos Aires Basin boundary unconventional resources Neuqun…
Cerro de Los Leones Potential Vaca Muerta Oil Well (La Hoyada X-1) 18
Cerro de Los Leones Multiple Nearby Oil Fields Malargue Vega del Sol YPF 1990s discovery single well tested 350 bbl/d of oil from Puesto Rojas fractured intrusive* 4 km to the W of La Hoyada (see map) 2-D Reconnaissance Seismic…
Valle de Rio Grande Intrusive Schematic 20
Cerro de Los Leones Volcanic Intrusion and Sill 21
La Hoyada X-1: Simplified Stratigraphic Column with FMI Log 22 Metres Thick 20 Metres Thick Test Interval Test Interval (optional) 22
La Hoyada X-1: Well Summary Multiple zones encountered while drilling with live oil shows and full gas chromatography; suggestive of thermal maturity and oil charge Fractured intrusives embedded within Vaca Muerta Oil shows in…
Las Cavaos Vaca Muerta Fractured Intrusives Producing wells Las Cavaos Vaca Muertas Fractured Intrusive Wells Los Cavaos Fractured Intrusives Average Cumulative Production Cumulative Oil 1,400 (MMbbl) 1,200 1,176 1,176 6 1,000…
Vaca Muerta Drilling Northern Neuqun CWV CWV Cerro de Los Leones - La Hoyada X-1 well (100% W.I.) Andes Energia YPF VM Discovery - El Manzano West block - Valle del Rio Grande block - Las Varillas x-1 well - MDM-94 well YPF…
Vaca Muerta Oil Maturity 26 26
Cerro de Los Leones Vaca Muerta Bigger Picture Before the drilling of La Hoyada X-1, mathematical geological models indicated the there may be 90,000 acres in the Vaca Muerta oil generation 350 km2 Llancanelo (see map) area Oil…
2014 Summary April 2 0 1 4 28
Key Corporate Milestones & Timelines Crown Point Operational Milestones Tierra del Fuego Concession Build Reserves and Cash Flow Cerro de Los Leones High Impact Exploration Concession extension approved (valid through 2026) Completion…