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AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc.

Legacy Oil + Gas Inc. · Aug 27, 2013 · 41 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 1
    Light Oil + Capital Efficiencies + Significant Inventory = Sustainable Growth August 27, 2013
  2. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 2
    What Differentiates Legacy Sustainable Oil price and differentials 10-15% per Light oil Track record year per share High netback Capital and cost efficiency growth Demonstrated Relatively per share Upside or immune to growth…
  3. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 3
    Second Quarter 2013 Results Production of 18,164 Boe/d (up 20% year over year); increased oil and NGLs weighting from 85% to 89% Funds generated from operations of 71.3 million (up 50% year over year); funds generated from…
  4. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 4
    Legacys Light Oil Price Prevails Operating Net Back 60.00 50.00 Net Back (C/Boe) 40.00 30.00 20.00 10.00 Q2-2013 netback up 0.00 10.14/Boe year over Oil Price year (27%) with WTI 120.00 up only 1% Edm Par 2.00 =…
  5. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 5
    Historical Performance Cash Flow Growth 300 2.40 Cash FundsFlow Flow Cash Flow Funds FlowPer perShare Share 250 2.00 Cash Flow (/Share) Cash Flow (MM) 200 1.60 150 1.20 100 0.80 50 0.40 0 0.00 2009 2010 2011…
  6. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 6
    Reserves Growth + 2012 Reserves/NAV Proved Plus Probable Reserve Growth 120 0.72 P+P Reserves P+P Reserves per Share 2012 Reserves 100 0.60 P+P Reserves per Share P+P Reserves (MMBOE) Proven + Probable (P+P) 94.2 MMBoe…
  7. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 7
    Driving Capital Efficiencies Manitoba Spearfish Horizontal Wells 2012 Goal Achieved. Reduced drilling time to 6-7 days from 9-10 days Drilling Days vs Rig Release Date Drilling Days Continuous Improvement (56 Wells Drilled Since…
  8. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 8
    Development Locations Legacy has an extensive drilling inventory in 2,080+ NET well-defined light oil plays Focused, operated, high working Net Undeveloped Land interest with material exposure to emerging light oil resource plays…
  9. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 9
    Reserves Gross Company interest proved + probable 103.3 MMBOE reserves are 84% light oil + NGLs Reserve Life Index Legacy has an industry leading oil weighted proved + probable reserve life index 14.9 YEARS Operating Net…
  10. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 10
    Focused + Light Oil Asset Base Two core areas: Southern Alberta MAXHAMISH Williston Basin Each area has focused development assets and new play development opportunities: Southern Alberta Development Turner Valley Rundle New play…
  11. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 11
    Pierson + North Dakota Spearfish Spearfish fairway expanded between Pierson and Waskada and extended into North Dakota Large oil-in-place pools in Manitoba E Highly successful application of horizontal wells and multi-stage G G…
  12. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 12
    Pierson Legacy Wells Outperform Legacy production choked-back; wells carry high fluid levels 13
  13. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 13
    Pierson + North Dakota Spearfish Forecast Type Curves IRR Sensitivity 140 160 Pierson North Dakota Pierson North Dakota 120 140 Production 120 100 Oil Rate (BOPD) Constrained 100 IRR (%) 80 80 60 60 40 40 20 20 0…
  14. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 14
    Steelman/Pinto Midale High impact conventional play with unconventional completion technique Light oil (34-40 API) E D VVJ S EE C CDV D E D EA E VEEDVJ C VE E V AE GGG JD G J D G GV E ICI E E V G VCJ VJVV EVE EV C G G G G E CE G…
  15. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 15
    Steelman + Pinto Midale Forecast Type Curves IRR Sensitivity 175 200 Steelman Pinto Steelman Pinto 180 150 160 Oil Rate (BOPD) 125 140 120 IRR (%) 100 100 75 80 50 60 40 25 20 0 0 0 2 4 6 8 10 12 14 16 18 20 22…
  16. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 16
    Star Valley Bakken 33 34 35 36 31 32 33 34 35 36 31 32 R6 G R5 R4W2M G V G G G G G G G G J G G 28 27 26 25 30 G 29 J 28 27 26 25 30 VV29 I E DG G G E E V G A G G G E EGD G E Bakken production is high netback, liquids G G…
  17. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 17
    Star Valley Bakken Forecast Type Curve IRR Sensitivity 120 100 110 90 100 80 90 Oil Rate (BOPD) 80 70 60 IRR (%) 70 60 50 50 40 40 30 30 20 20 10 10 0 0 0 2 4 6 8 10 12 14 16 18 20 22 24 80 85 90 95 100 105…
  18. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 18
    Frys/Antler Torquay/Souris Valley Torquay (Three Forks) G G E E E E E E E EJ E E D J D EV E J J E Significant light oil (40o API) resource U R31 E D E R30 E V J J E32 E R29W1M V E E33 E E J JE34J E E E 35 E J J GJ J36 E C J G 31…
  19. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 19
    Frys/Antler Torquay (Three Forks) Forecast Type Curve IRR Sensitivity 100 90 90 80 80 70 Oil Rate (BOPD) 70 60 IRR (%) 60 50 50 40 40 30 30 20 20 10 10 0 0 0 2 4 6 8 10 12 14 16 18 20 22 24 80 85 90 95 100 105…
  20. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 20
    Conventional Mississippian Plays Key properties in conventional Mississippian plays include SOUTHEAST Alameda, Steelman, Midale, SAS KAT C H E WAN Manor, Edenvale/Nottingham and Crystal Hills MANITO BA Main producing and target…
  21. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 21
    Conventional Mississippian Forecast Type Curves IRR Sensitivity 100 200 90 180 80 160 Oil Rate (BOPD) 70 140 60 IRR (%) 120 50 100 40 80 30 60 20 40 10 20 0 0 0 2 4 6 8 10 12 14 16 18 20 22 24 80 85 90 95 100 105…
  22. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 22
    Turner Valley Rundle 40o API light oil, liquids-rich solution and non-associated natural gas with low historical oil decline rate…
  23. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 23
    Turner Valley Rundle Forecast Type Curve IRR Sensitivity 130 60 120 110 50 100 Oil Rate (BOPD) 90 40 80 IRR (%) 70 30 60 50 20 40 30 20 10 10 0 0 0 2 4 6 8 10 12 14 16 18 20 22 24 80 85 90 95 100 105 Months Oil…
  24. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 24
    Heward Waterflood Response Bakken pilot waterflood one section Pilot Waterflood Water injection commenced mid- December 2011 Majority of wells fracd out of zone prior to 2009 poor primary production area Expansion of pilot to…
  25. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 25
    Taylorton Waterflood Response Section 29 Waterflood 1000 10000 Pilot Waterflood Expanded Pilot Start of Injection GOR (scf/bbl) Rate (Bbl/d) 100 1000 Oil Production 10 Response 100 1 10 Dec-09 Mar-10 Jun-10 Sep-10…
  26. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 26
    Low Risk Development Budget Total capital budget of 310 million (does not include capitalized G & A) Includes 20 million for acquired assets 2013 Capital Budget 81% of capital directed to drilling and completions Breakdown Drill…
  27. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 27
    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,…
  28. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 28
    Significant Light Oil Resource Base Legacy Working Interest Volumes 300 250 200 MMBbl 150 100 50 0 High Estimate Best Estimate P+P Reserves Sproule Contingent Resource LEG Contingent Resource See notes,…
  29. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 29
    Potential Value Various Capital Timeframes 3 Year Contingent Capex 5 Year Contingent Capex 7 Year Contingent Capex 6000 30.75/share 29.45/share 28.71/share 5000 Assumptions for all cases: NPV10% BT (M) 4000 Legacy internal…
  30. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 30
    APPENDIX
  31. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 31
    Corporate Profile TSX Trading Symbol LEG Common Shares 157.2 million Warrants 3.6 million Options & Restricted Shares 10.1 million Insiders own Basic 2.4% Fully Diluted 8.3% Enterprise Value 1.5 billion Average Liquidity…
  32. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 32
    Taylorton/Pinto Bakken + Three Forks Multizone area for high netback, liquids rich light oil R7 1 E G 6 V G G II II II I VJ D G M I R6 E I I E E IE E I J 1 6 G R5 1 G 6 G G GJ J R4W2M G E J 1 6 V A G J V…
  33. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 33
    Taylorton Bakken Forecast Type Curve IRR Sensitivity 160 200 140 180 160 120 Oil Rate (BOPD) 140 100 120 IRR (%) 80 100 60 80 60 40 40 20 20 0 0 0 2 4 6 8 10 12 14 16 18 20 22 24 80 85 90 95 100 105 Months Oil…
  34. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 34
    Stoughton/Heward Bakken Forecast Type Curve IRR Sensitivity 120 180 100 160 140 Oil Rate (BOPD) 80 120 IRR (%) 100 60 80 40 60 40 20 20 0 0 0 2 4 6 8 10 12 14 16 18 20 22 24 80 85 90 95 100 105 Months Oil Price…
  35. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 35
    Southern Alberta Bakken Alberta Basin Bakken Play R29 G G G G F I G R25W4M G I G L Lands K LGXG G GG J K C GKJG G G G G F GK C CK F C G F CEE KG G FGJ CG J E 1 0 F D M I L E S G JF S F E G LGX…
  36. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 36
    Maxhamish, BC Chinkeh Chinkeh Formation light oil resource play Significant resource of 40o API light sweet oil, confirmed by horizontal drilling Aerially extensive sheet sand, 3 - 5m thick ALL-SEASON ROAD 1,600 m depth Operated…
  37. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 37
    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…
  38. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 38
    Notes to Contingent Resource Assessment Notes: (1) The Spearfish formation is located within Legacy's properties at Pierson, Manitoba and Bottineau County North Dakota. The Bakken and Torquay formations are located within certain of…
  39. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 39
    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,…
  40. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 40
    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…
  41. AUGUST 2013 CORPORATE PRESENTATION – Legacy Oil + Gas Inc. – slide 41
    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:…

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