Vision Execution Value TSX-V: BBI 2015 Blackbird Energy Corporate Presentation April 2015
Developing A World Class Asset Focused on the Liquids Rich Montney Resource in NW Alberta Assembled Large Land Position in Liquids Rich Corridor at Elmworth / Gold Creek 81 sections (51,840 acres) Neighborhood is becoming prolific…
The Elmworth Neighborhood Blackbird has assembled an 81 section block in Elmworth surrounded by industry leading players Drilling is driving aggressively towards Blackbirds land this is the beginning Land prices as high as 2.9 mm…
Elmworth Montney Why Here Condensate and Liquids-Rich Natural Gas High liquids / Gas ratio confirmed in initial Blackbird well tests (greater than 125 bbls/mmcf) Over-Pressured Reservoir Provides enhanced productive capability…
Elmworth Liquids-Rich Corridors Upper Montney Middle Montney BBI 5-26 Condensate to gas ratios increase from Condensate to Gas ratios in the Middle less than 10 Bbls/Mmcf in the West to over Montney range…
Elmworth Over-Pressured Substantially all of Blackbirds lands are situated in the over- pressured Montney corridor Higher pressures enhance the deliverability of the wells and increase the ultimate recoverable reserves Note:…
The Gas and Liquids are There Blackbird started this year with completing and conducting an initial test on its first two wells at Elmworth Both wells confirmed the presence of liquids-rich gas and condensate in the Montney on our…
Initial Tests - Upper and Middle Montney BBI carried out a limited flow back to allow for the evaluation of our liquids/gas ratio Infrastructure was not in place to allow for an IP30 but to move project ahead fluid and gas analysis…
Confirmation of Liquids-Rich Reservoir in both Upper and Middle Montney Early nature of results…
BBI 5-26 Flow Test Upper Montney analogs indicate potential productivity can accelerate at 35% load fluid recovery 5-26 during test was flowing back 0.9 mmcf/d, 1,079 bbls/d of load fluid plus 313 bbls/d of condensate + NGLs with…
BBI 5-26 Flow Test 5-26 well began to produce hydrocarbons at 10% load fluid recovery compared to greater than 20% in analog well Analog supports thesis that well is still in early stages of clean up and further cleanup will allow…
BBI 6-26 Restricted Flow Test 6-26 on a restricted downhole choke (15/64 inch) exhibited characteristics similar to analog Middle Montney wells 6-26 during test was flowing back 717 bbls/d of load fluid plus 181 bbls/d of…
BBI 6-26 Flow Test 6-26 well produced hydrocarbons at earlier stage than Middle Montney Analog (5.0% vs 17.0% load fluid recovery) Production Test Data - % Oil Cut vs. % Load Fluid Recovered Middle Montney BBI 6-26 vs. Middle…
BBI 6-26 Flow Test 6-26 well with downhole choke shows early stage outperformance vs. Middle Montney Analog Production Test Data - Gas Rate vs. % Load Fluid Recovered Middle Montney BBI 6-26 vs. Middle Montney Analog 10000 45…
Were Learning D&C Optimization Blackbird is currently in the initial delineation phase First wells in exploration program spud to rig release of 49 days (Middle) and 39 Days (Upper) Key focus on reduction of drill time Modification…
Elmworth H2S 6-26 well had downhole choke employed due to temporarily elevated levels of H2S above license allowance (well licensed for H2S of 8.6%) H2S initially spiked, flowback saw rate drop to 10.8% Regional H2S varies…
Infrastructure and Access Blackbirds core Elmworth asset has year round access, is close to services, pipelines & facilities and major highways Sour infrastructure solutions available (up to 30% H2S) Take-away and facility…
Where are we going in 2015 Drill additional wells at Elmworth (lower D&C to sub 8 million) Additional Montney acreage aggregation at Elmworth/Grande Prairie/Gold Creek Design and build infrastructure for liquids and gas takeaway…
Corporate Profile BBI (TSXV) Shares Basic 353 mm Fully Diluted 389 mm Insider Holdings (Board and Management) (Basic)1 25% Positive Working capital 2 24.5 mm Market Capitalization (based on 0.25 per BBI share) 88 mm Enterprise Value 2…
Management Garth Braun Chairman, CEO and President : Garth is a businessman and entrepreneur with over 30 years of diversified experience in oil and gas, finance and real estate Garth was formerly the principal of a private real…
Blackbird Summary 100% Working Interest of 158.0 net sections of Montney land prospective for condensate and liquids rich gas Asset & Size of 81 sections (100% WI) with 200 m thick Montney section in the established liquids rich/ over…
Contact Information Head Office: Suite 2200, 635 8th Avenue SW Calgary, Alberta, Canada T2R 3M3 Reserves: GLJ Petroleum Consultants IHS Inc. Legal: Macdonald Tuskey Osler, Hoskin & Harcourt LLP Auditors: Davidson & Company Stock…
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