ATHABASCA OIL CORPORATION FOCUSED EXECUTING DELIVERING ANNUAL GENERAL & SPECIAL MEETING OF SHAREHOLDERS APRIL 21, 2015
2 REFINED STRATEGY FOR VALUE CREATION Material Core Assets o 1,000+ well inventory in the Duvernay shale play at Kaybob o 80,000 bbl/d project potential at the Hangingstone thermal asset WORLD CLASS ASSETS Diverse portfolio…
WELL POSITIONED FOR GROWTH 3 2015 HIGHLIGHTS o Building a business that is self funded in the medium-term o Exit volumes expected to grow by 75% in 2015 o Conservative approach to capital allocation and spending o A focus on cost…
4 FOCUSED ON OUR CORE ASSETS LIGHT OIL: GREATER KAYBOB 2015 program o 203 million full year budget o 10 Duvernay and 2 Montney wells Go forward flexibility Hangingstone o Near-term Duvernay land retention requirements achieved o…
LIGHT OIL OVERVIEW
MATERIAL EXPOSURE ACROSS THE KAYBOB DUVERNAY FAIRWAY 6 Volatile Oil Sections: 150,000 acres Locations: 1,300+ 12 Kaybob Kaybob East West North 14 Simonette 6 7 9 5 1 18 Two Creeks 8 19 15 17 Kaybob West 10 4 3 13…
DUVERNAY GROWTH SCENARIO 8 SCENARIO OVERVIEW o Potential for significant annual production growth o Cost learnings with the transition to development o Flexibility to control pace of activity ANTICIPATED COST LEARNING CURVE…
11 LIGHT OIL INFRASTRUCTURE
HANGINGSTONE OVERVIEW
HANGINGSTONE PROJECT 1 COMPLETE 13 EXCELLENCE IN SAFETY PERFORMANCE o Completed 5.6 million hours of work (2 LTIs; TRIF of 1.2) ON BUDGET EXECUTION o Executed to within 5% of the sanctioned budget o Competitive cost performance ON…
HANGINGSTONE OPERATIONS 14 WELL INVENTORY o Planning to start-up 22 of the 25 drilled well pairs CIRCULATION PHASE o 15 well pairs on line and currently steaming o Remaining 7 well pairs expected to be brought on line in the next 2 3…
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