Aggressively Building the Premier Intermediate Light Oil Producer March 20, 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 3.7 million Options 13.6 million Insiders own Basic 3.1% Fully Diluted 8.9% Enterprise Value 1.8 billion Average Liquidity (TSX plus ATM)…
Legacy Historical Performance Legacy Production per Common Share Spring Break up 2009-Q2 2009-Q3 2009-Q4 2010-Q1 2010-Q2 2010-Q3 2010-Q4 2011-Q1 2011-Q2 2011-Q3 2011-Q4 2012-Q1 Boe/d per Common Share 2012 Q1 based on 2011…
2012 Capital + Operating Budget 2012 Capital Expenditures ( million) Total capital budget of 305 million (does not include capitalized G & A) Targeting light oil 18 5 83% of capital directed to drilling and 28 completions 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…
SW Alberta Focused + Light Oil Asset Base R8 R3W5 R27 R22 R17W4 R7 R2W5M R25W4M R20 T26 T26 T26 Development MOOSE MOUNTAIN CALGARY Main producing asset is Turner Valley field with re-completion, exploitation, development…
Turner Valley, Alberta Rundle/Cardium 40o API light oil, liquids-rich solution and non-associated natural gas with low historical oil decline rate…
SW Alberta Unbooked Upside Estimated Estimated Unbooked Reserves Capital NPV10 (BT) Rate of Locations per Well per Well per Well F&D Return (net) (MBOE) (MM) (MM) (/BOE) (%) Turner Valley Rundle 34.8 400.0 4.0 5.5 10.00 65…
Williston Basin Focused + Light Oil Asset Base Light oil resource plays (Bakken, R17 R12 R7 R2W2 R30 R25 R20W1 Torquay, Spearfish) and conventional T21 T21 Mississippian (Souris Valley, Tilston, Alida, Frobisher, 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 4 wells per…
Williston Basin Conventional Mississippian Plays R17 R12 R7 R2W2 R30 R25 R20W1 T21 T21 Key properties in conventional SOUTHEAST Mississippian plays include SASKATCHEWAN Alameda, Steelman, Midale, T16 T16 Manor,…
Pierson/Bottineau - Spearfish Light Oil Resource Play Spearfish fairway between Pierson and Waskada R30 R29 R28 G U R27 R26 A R25 R24 R23 R22W1 U V V and extended into Bottineau County, North Dakota T4 G G G G G A A E E…
Williston Basin - Unbooked Upside Estimated Estimated Unbooked Reserves Capital per NPV10 (BT) Rate of Locations per Well Well per Well F&D Return (net) (MBOE) (MM) (MM) (/BOE) (%) Taylorton Bakken 92.3 165.0 2.3 4.7 13.94 179…
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 318.7 86.9 716.0 1,551.5 Turner Valley Rundle 34.8 13.9 139.2 191.4 Williston Basin Bakken/Torquay 288.5 37.6 524.0…
APPENDIX 20
Taylorton, Sask. - Bakken Undeveloped land R7 R6 R5W2M Canada: 25,960 gross (19,826 net) acres (avg. W.I. 76%) BP GAS AND NGL TIE-IN T2 U.S: 4,950 gross (1,237 net) acres SASKATCHEWAN (avg. W.I. 25%) SECTION 29 WATERFLOOD…
Stoughton/Heward, Sask. Bakken Operated, high working interest R10 R9 R8W2M 64 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 R25 R20W4M Alberta Basin Bakken Play 2WS VERTICAL WELL 6-6 CUM: 1.4 MMBBL 107 wells licensed and/or drilled since late 2009 on 140 mile long play fairway; 82 wells licensed CUM: 4.8 MSTB since mid-2010…
Maxhamish, BC Chinkeh Light Oil Resource Play Operated 61.5% W.I. in 69,000 acres of contiguous land Chinkeh Formation 40o API light sweet oil resource play ALL-SEASON ROAD 1,600 m depth Aerially extensive sheet sand 2011 STRAT…
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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