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NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Nov 19, 2013 · 32 slides

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Slides

  1. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 1
    Corporate Presentation November 2013 0 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer
  2. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 2
    Why Invest in Kelt 3 For investors who want to be exposed to a growth oriented oil and gas exploration and development business plan - TRACK RECORD: the Kelt management team has a strong track record of building shareholder value,…
  3. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 3
    Common Share Information 4 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Nov/15/13 ) 970 million Mar/1/13 to Nov/15/13 trading range 5.30 - 9.59 Common shares issued 97.6 million Restricted share units 1.5…
  4. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 4
    Pro-forma Common Share Information After giving effect to the private placement of 12.4 million shares 6 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Nov/15/13 ) 1.05 billion Mar/1/13 to Nov/15/13 trading…
  5. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 5
    Capital Expenditure Program Pro forma after giving effect to the Pouce Coupe/Spirit River acquisition 7 ( millions ) 2013 Forecast 2014 Budget Change Drilling & Completions 90.0 100.0 + 11% Facilities, Equipment & 17.0 22.0 + 29%…
  6. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 6
    2014 Drilling Program Pro forma after giving effect to the Pouce Coupe/Spirit River acquisition 8 Gross Net D&C % Wells Wells ( MM ) Inga/Fireweed 7 2.8 20.1 20% Karr 2 2.0 13.8 14% Grande Cache 3 3.0 17.3 17% Pouce Coupe / 7 5.6…
  7. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 7
    Production Outlook Pro forma after giving effect to the Pouce Coupe/Spirit River acquisition 9 2013 (E) 2013 (E) 2014 (E) ( Feb/27 Split Dec/31 ) Average Average Oil ( bbls/d ) 634 535 2,330 22% NGLs ( bbls/d ) 296 250 830 8% Gas…
  8. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 8
    Commodity Prices Pro forma after giving effect to the Pouce Coupe/Spirit River acquisition 10 ( CA , unless otherwise specified ) 2013 (E) 2014 (E) Change WTI Oil ( USD/bbl ) US 98.00 US 87.50 - 11% NYMEX Gas ( USD/mmbtu ) US 3.75 US…
  9. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 9
    Hedging 11 ( CA , unless otherwise specified ) Quantity Fixed Price 500 WTI Oil Nov/1/13 to Dec/31/13 98.00 * bbls/d 500 WTI Oil Jan/1/14 to Dec/31/14 100.00 bbls/d 15,000 NYMEX-AECO Basis Nov/1/13 to Dec/31/13 US 0.47…
  10. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 10
    Netbacks Pro forma after giving effect to the Pouce Coupe/Spirit River acquisition 12 ( / BOE ) 2013 2014 Change Oil & gas revenue 32.14 39.26 + 22% Realized hedging gain (loss) ( 0.13 ) 0.39 - Royalties ( % of revenue ) ( 15.3% ) (…
  11. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 11
    Financial Outlook Pro forma after giving effect to the Pouce Coupe/Spirit River acquisition and the equity financings 13 2013 2014 Change Oil & gas revenue, before royalties ( MM ) 42.2 152.0 + 260% Funds from operations ( MM ) 21.0…
  12. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 12
    Core Areas 14 Inga / Fireweed: Montney/Doig condensate rich gas exploration/development Inga / Fireweed Pouce Coupe / Spirit River: Pouce Coupe / Spirit River Montney/Doig gas development Charlie Lake light oil development Karr…
  13. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 13
    Land Holdings As at November 13, 2013 15 Gross Acres Net Acres Average WI Net Sections Developed 77,140 40,795 53% 63.7 Undeveloped 235,124 155,241 66% 242.6 Total 312,264 196,036 63% 306.3 Developed and Undeveloped Montney and Doig…
  14. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 14
    Kelt Reserves As at September 30, 2012 16 Oil NGLs Gas Combined ( mbbls ) ( mbbls ) ( mmcf ) ( mBOE ) Proved Developed Producing 204 184 32,757 5,848 Proved Developed Non-producing 12 9 1,136 210 Proved Undeveloped 678 329 7,773…
  15. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 15
    Pouce Coupe / Spirit River Reserves As at October 1, 2013 17 Oil NGLs Gas Combined ( mbbls ) ( mbbls ) ( mmcf ) ( mBOE ) Proved Developed Producing 4,173 395 33,042 10,075 Proved Developed Non-producing 98 15 1,154 305 Proved…
  16. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 16
    Inga / Fireweed ( British Columbia ) 18 Land 117,224 acres ( gross ) 49,335 acres ( net ) Operations Kelt expects average 2014 production to be approximately 2,000 BOE/d at Inga / Fireweed. Kelt expects to drill 7 gross (2.8…
  17. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 17
    Spirit River Concentrated Alberta Land Base 19 Pouce Coupe Pro Forma Operations Upon completion of the Pouce Coupe / Grande Prairie Spirit River acquisition, Kelt expects to set up its main field operating base in the town of…
  18. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 18
    Grande Cache 20 Land 126,400 acres ( gross ) 79,886 acres ( net ) Operations Kelt expects 2014 average production to be approximately 2,800 BOE/d in the Grande Cache area. Kelt expects to drill 3 gross (3.0 net) wells here in…
  19. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 19
    Karr 21 Land 4-26 Vertical Drilled 27,200 acres ( gross ) 25,376 acres ( net ) Operations 16-8 HZ Tested (75%) Kelt expects average 2014 16-28 HZ Producing 13-35 HZ production to be Tested approximately 1,100 BOE/d 14-21 HZ…
  20. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 20
    Pouce Coupe 22 Acquisition Kelt expects to complete the Pouce Coupe / Spirit River Progress Halfway O Pool Unit acquisition on Dec/20/2013. 7.8% WI Operations Pouce Coupe South Boundary B Unit 2 67.9% WI Operated Kelt expects…
  21. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 21
    Spirit River 23 Acquisition Progress Doe Creek Unit 1 29.5% WI Kelt expects to complete the Pouce Coupe / Spirit River acquisition on Dec/20/2013. Spirit River Charlie Lake E & M Unit Operations 81.6% WI Operated Progress…
  22. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 22
    Future Considerations 24 - DRILLING INVENTORY: upon completion of the recently announced asset acquisition, Kelt will have numerous years of drilling inventory to grow the company. - STRONG BALANCE SHEET: upon completion of the…
  23. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 23
    Management 25 David J. Wilson, President & CEO Sadiq H. Lalani, Vice President, Finance & CFO Douglas J. Errico, Vice President, Land Alan G. Franks, Vice President, Production Douglas O. MacArthur, Vice President, Operations Patrick…
  24. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 24
    Board of Directors 26 Robert J. Dales Compensation (Chair), Nominating, Audit, Reserves William C. Guinan Chairman, Nominating (Chair), EHS Eldon A. McIntyre Reserves (Chair), Nominating, Audit, Compensation Neil G. Sinclair Audit…
  25. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 25
    Purchasers Rights 29 The following statutory rights of action for damages or rescission will only apply to a purchase of securities of Kelt in the event that the foregoing presentation is deemed to be an offering memorandum pursuant to…
  26. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 26
    Purchasers Rights - Ontario 30 Securities legislation in Ontario provides that if the offering memorandum, together with any amendment to such offering memorandum, contains a misrepresentation, a purchaser in the Province of Ontario…
  27. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 27
    Purchasers Rights - Saskatchewan 32 memorandum purporting to be made on the authority of an expert, or purporting to be a copy of, or an extract from, a report, an opinion or a statement of an expert, that person or company had no…
  28. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 28
    Purchasers Rights - Manitoba 33 In the event that an offering memorandum, together with any amendment thereto delivered to purchasers of securities resident in Manitoba, contains a misrepresentation and it is a misrepresentation at the…
  29. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 29
    Purchasers Rights - Manitoba 34 part of the offering memorandum did not fairly represent the Expert Opinion or was not a fair copy of, or an extract from, such Expert Opinion; or (d) with respect to any part of the offering memorandum…
  30. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 30
    Purchasers Rights Nova Scotia 35 Nova Scotia securities legislation provides that if an offering memorandum or any advertising or sales literature (as defined in the Securities Act (Nova Scotia)) contains a misrepresentation, a…
  31. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 31
    Purchasers Rights New Brunswick 36 New Brunswick securities legislation provides investors who purchase securities offered for sale in reliance on the Accredited Investor Exemption with a statutory right of action against the issuer…
  32. NOVEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 32
    Corporate Presentation November 201337 Suite 600, 321 6th Avenue SW Calgary, Alberta, Canada T2P 3H3

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