Aggressively Building the Premier Intermediate Light Oil Producer August 1, 2012
Legacy Management Objectives Cost-effective per share growth in reserves, production and cash flow Acquire and exploit high quality, long life, light oil and natural gas reserves Explore for technology-driven resource play…
Corporate Profile TSX Trading Symbol LEG Common Shares 143.3 million Warrants 3.6 million Options 13.1 million Insiders own Basic 2.7% Fully Diluted 8.5% Enterprise Value 1.5 billion Average Liquidity (TSX plus ATM)…
Legacy Historical Performance Legacy Production per Common Share 2009-Q2 2009-Q3 2009-Q4 2010-Q1 2010-Q2 2010-Q3 2010-Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 2012F-Exit Legacy has grown production per share almost 63% over…
2012 Capital + Operating Budget Total capital budget of 305 million (does not 2012 Capital Expenditures ( million) include capitalized G&A) Targeting light oil 5 83% of capital directed to drilling and completions 18 Drill…
Development Locations 1,200+ Legacy has an extensive drilling inventory NET which does not include Bakken downspacing, Turner Valley Cardium, Southern AB Bakken or Maxhamish Focused, operated, high working Net Undeveloped Land…
Reserves Proforma gross proved + probable 88.0 MMBOE reserves are 84% light oil + NGLs Reserve Life Index 16.2 Legacy has an industry leading oil weighted proved + probable reserve life index YEARS Operating Net Back Light…
Focused + Light Oil Asset Base Two core areas: Southern Alberta Williston Basin Each area has focused development assets and new play development opportunities: Southern Alberta o Development Turner Valley Rundle o New play…
Turner Valley, Alberta Rundle/Cardium 40o API light oil, liquids-rich solution and non-associated natural gas R4 R3 R2W5M with low historical oil decline rate…
SW Alberta Unbooked Upside Estimated Estimated Unbooked Reserves Capital NPV10 (BT) Rate of Play Locations per Well per Well per Well F&D Return (net) (MBOE) (MM) (MM) (/BOE) (%) Turner Valley Rundle 36.5 400.0 4.0 5.5 10.00…
Williston Basin Focused + Light Oil Asset Base Light oil resource plays (Bakken, Torquay, Spearfish) and conventional Mississippian R17 R12 R7 R2W2 R30 R25 R20W1 (Souris Valley, Tilston, Alida, Frobisher, T21 T21 Midale)…
Williston Basin Resource Plays Significant positions in three light oil resource plays R17 R12 R7 R2W2 R30 R25 R20W1 Bakken at Taylorton, Stoughton/Heward T21 T21 and Star Valley has more than 200 net locations at four wells per…
Williston Basin Conventional Mississippian Plays R17 R12 R7 R2W2 R30 R25 R20W1 Key properties in conventional T21 T21 Mississippian plays include SOUTHEAST Alameda, Steelman, Midale, SASKATCHEWAN Manor, Edenvale/Nottingham…
Pierson/Bottineau - Spearfish Light Oil Resource Play Spearfish fairway expanded between Pierson and Waskada and extended into North Dakota Large oil-in-place pools in Manitoba R29 R28 R2 R26 R25 R24 R2 R22W1M 7 3 Highly successful…
Pierson Legacy Wells Significantly Outperform 140 35 Number of Legacy Wells: 19 Number of Other Wells: 37 120 30 Legacy production choked-back; wells carry high fluid levels 100 25 Legacy wells have recovered Oil Rate…
Bottineau County Legacy Wells Significantly Outperform 140 14 Number of Legacy Wells: 5 120 12 Legacy wells have recovered 100 32% more than the Sproule P+P 10 type curve to-date Oil Rate (BOPD) 80 8 Well Count 60…
Williston Basin - Unbooked Upside Estimated Estimated Unbooked Reserves Capital per NPV10 (BT) Rate of Play Locations per Well Well per Well F&D Return (net) (MBOE) (MM) (MM) (/BOE) (%) Taylorton Bakken 82.5 165.0 2.3 4.7 13.94…
Right Team + Right Assets + Right Time Experienced management team with a proven record of aggressively growing oil and natural gas companies on a cost-effective per share basis Highly focused, light oil production and undeveloped…
Total Value Potential Locations Reserves Capital NPV10 (BT) (net) (MMBOE) (MM) (MM) Sproule Reserve Report P+P 282.2 88.0 638.6 1,692.8 Turner Valley Rundle 36.5 14.6 146.0 200.8 Williston Basin Bakken/Torquay 259.9 34.4 478.5…
APPENDIX 22
First Quarter 2012 Results Production of 16,370 Boe/d (up 27% year over year) Increased oil and NGL share of production to 87% from 81% in Q1/11 Drilled 49 gross (35.1 net) oil wells with a 100% success rate Funds flow from…
Taylorton, Sask. - Bakken Undeveloped land R7 R6 R5W2M Canada: 24,229 gross (18,258 net) acres BP GAS AND NGL TIE-IN T2 U.S: 3,352 gross (838 net) acres SASKATCHEWAN C 59 wells drilled to date SECTION 29 WATERFLOOD PILOT…
Stoughton/Heward, Sask. Bakken Operated, high working interest R10 R9 R8W2M 50 net development horizontal locations Development to four wells per section T10 Step-out drilling SECTION 6 WATERFLOOD PROJECT Improved…
Frys/Antler, Sask. Torquay/Souris Valley Torquay (Three Forks) R31 Significant light oil (40o API) resource R30 R29W1M GLJ Consultants Ltd. estimates from mapping show a gross lease resource of 91.9 MMSTB of discovered PIIP…
Southern Alberta Bakken Play R2 R1W5 R29 R28 R27 R26 R25 R24 R23 R22 R21 R20 R19 R18 R17 R16 R15W4 C FFG G J G J G G F G R1W5M C FK FF G R25 G R20W4M I I I T19 KFFLG G G S JJ I J IMF L J A T1 I G G FF F D G L G G…
Maxhamish, BC Chinkeh Light Oil Resource Play Chinkeh Formation 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…
Independent Reserve Engineers Contact Information Sproule Associates Limited Bank Syndicate 4400, 525 8th Avenue SW BMO Capital Markets Eighth Avenue Place National Bank Calgary, Alberta T2P 1G1 The Bank of Nova Scotia Tel:…
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