Manitok Energy Inc. (MEI TSXV) Corporate Presentation October 2014
Why Invest in Manitok Market valuation low relative to NAV and cash flow per share multiple in both 2014 and 2015; Short term tie-in delays at Stolberg will be resolved early in the 4th quarter of 2014; Emerging success at…
Corporate Snapshot MEI on TSXV Market Capitalization at 2.09/share 150 million Common Shares Outstanding at September 30, 2014 66,996,440 Options (wgt avg exercise price of 2.04/share) 4,614,607 Insider Ownership, Undiluted /…
Successful Corporate Strategy Focus on Underexploited Conventional Reservoirs Less reliance on issuing equity to drive production and reserves growth due to shorter pay back periods and lower decline rates; Stolberg MEI has…
Exceptional Production Growth Average Production Volumes by Quarter (boe/d) 6,000 Established Track Record of Successful Capital Allocation Disposition of Natural Gas Assets of Gas (boe/d) 777 boe/d for 22 million. More 5,000 Oil…
Growth Per Share Continues in 2014 At 2.09 per share, MEI is trading at 3.0x forecast 2014 cash flow. Annual 2014 Annual 2012 Actual 2013 Actual Increase Guidance Increase Production Annual (boe/d) 2,389 4,113 72% 4,750 4,950 18% %…
Net Asset Value MEI on TSX-V Diluted Net Asset Value per Share Proved plus Probable Reserves Dec 31, 2013 - NPV 10% (excludes disposition announced on February 27th, 2014 and does not include reserves changes from 2014 drilling…
Normal Course Issuer bid (NCIB) - Growth Through Acquisition Buying MEI shares at less than 3.5x cash flow is accretive to shareholders Number of Price / Shares Share Total Dollars NCIB from Nov. 8, 2013 to September 30, 2014…
Board of Directors The People Bruno Geremia, C.A. - Chairman VP Finance & CFO, Birchcliff Energy (BIR TSX) Massimo Geremia President & CEO, Manitok Energy (MEI TSXV) Wilfred A. Gobert Retired, former Vice Chairman of Peters & Co;…
Experienced Management Team Massimo Geremia, President & CEO 25 years of public company experience in Oil &Gas, Real Estate and Finance; previously with Birchcliff Energy Ltd., Equatorial Energy Inc. & Boardwalk Equities Inc.; Cameron…
Significant Production Growth Remaining at Stolberg Manitok operates all drilling and production on its Stolberg asset. Non-operated partners include Husky Energy, Centrica, Petrus Up to 3,500 to 5,000 net boe/d (50% oil) of…
Large Scale Opportunity at Entice New Pool Log Leads 55 have been identified. R 25 24 23 Mannville well density plotted on map Swallwell Nisku Pools Viking Wbmn Swalwell Cum 5 MMBO Nsku Wayne A Pool Glauconitic D-1 A Pool 17 wells,…
Attractive Terms on Entice Lands Large Contiguous Land Base to Develop Efficient, Scalable Operations Footprint spanning nearly 9 townships (96,800 net acres) with PNG rights from the base of the Belly River to the base of the…
2014/Q1 2015 Entice Drilling Program Lithic Glauc Vertical & planned Hz offset wells The first horizontal Lithic Glauc well drilled in North Entice tested at a flowing rate of 1,106 boe/d (356 bbls/d of 40 API oil); a successful BQ…
Lithic Glauc Oil Channel Discovery at South Entice Manitoks 15-32-22-25w4 Hz Lithic Glauc well tested at 356 bbls/d of 40 API oil and 4.5 T23 R25W4 MMcf/d of natural gas (1,106 boe/d) over the last 24 hrs of a 6 day test; Manitoks…
Additional Lithic Glauc Oil Pools to be Drilled in Central Entice T25 R24W4 Planning to offset a vertical well drilled in 2002 which encountered 23 meters of bypassed pay in the Lithic Glauc formation; at that time, the well…
BQ Oil Discovery at South Entice MIDDLE Basal Quartz Manitoks 3-28-22-25W4 Hz BQ well tested at 135 bbls/d of GROSS SAND 30 API oil and 420 Mcf/d of natural gas over 79 hours; ISOPACH CI 5m Depositional environment interpreted as…
Testing 2nd Basal Quartz Pool in South Entice 3-09-23-25W4 well location, shown in red, has been fracd and is on test; T23 R25W4 Well on trend with very productive Entice Lower Mannville B Pool; At least 3 immediate offset…
Additional BQ Oil to be tested at Entice in 2014 and 2015 Offsets the 6-16 vertical T27 R24W4 T28 R24W4 producer; 18 meters of Offsets to net sand encountered 06-16 (12m 6% porosity); Vertical well Identified trend 8 miles; 20…
Why Buy Manitok Shares Today Great fundamental value; trading at 3x forecast 2014 cash flow and at a 47% discount to NAV; Tie-in delays at Stolberg will be resolved early in the 4th quarter of 2014; Manitoks reserves, production…
Appendix
Basal Quartz Prospects at Entice Basal Quartz Wells are RED 14 bypassed pay new pool opportunities identified to date ( ) ; Cenovus (CVE - TSX) analog BQ pool T26 (18 miles east of MEI land) production peaked at about 4,000…
Hedging at August 31, 2014 Subject of Notional Average Contract Contract Quantity Remaining Term Reference Strike Price Traded Oil 500 bbls/d January 1, 2014 to December 31, 2014 CAD WTI 96.00 Swap Oil 500 bbls/d January 1, 2014 to…
Price Deck SPROULE AUGUST 31, 2014 - Prices in Canadian Dollars - 1 Western 2 WTI Canadian Light Synthetic Crude Cromer Hardisty Canada Hardisty Energy Cost Cushing Sweet Oil Edmonton 34 LSB Heavy Select (WCS) Bow River Cold Lake…
Analyst Coverage Acumen Capital Trevor Reynolds Canaccord Genuity Anthony Petrucci Clarus Securities Inc. Daniel Choi Dundee Capital Markets Chad Ellison GMP Securities Aaron Swanson Integral Capital Markets Macquarie Capital…
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