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RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd.

Pace Oil & Gas Ltd. · Sep 12, 2011 · 34 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. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 1
    Strong Growth, Solid Value and Large Resource Upside Growing Oil - Reserves, Production, and Cash Flow Oil Developments Drive Long-Term Growth Rodman & Renshaw Global Conference September 2011
  2. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 2
    Corporate Overview Strong Growth Top tier growth - oil weighted and per share Solid Value High quality, long life, oil weighted assets Significant Upside Portfolio of top tier resource plays Multiple valued-added visible growth…
  3. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 3
    Corporate Highlights Current Basic Shares Outstanding (mm) 47.5 FD Shares Outstanding (mm) 50.7 Net Debt (mm) June 30, 2011 163 Credit Facility (mm) (1) 275 Proved Reserves (mmboe) 41.8 2P Reserves (mmboe) 50% Oil 67.0 2011…
  4. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 4
    GROWTH PACE OIL & GAS RODMAN & RENSHAW GLOBAL CONFERENCE SEPTEMBER 2011 5
  5. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 5
    Corporate Growth Strategy Exploit and develop existing oil assets Near Term (1-2 years) Explore and develop oil resource plays in inventory Oil Focused maintain Gas option Maintain best gas resource opportunities Engineered…
  6. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 6
    Production Growth Total Production (boe/d) Natural Gas 14,262 14,141 Oil & Liquids 13,089 12,403 Production up over 45% 9,808 10,271 Liquids up over 70% Achieved record production in Q2 2011 41% 43% 41% 38% 36% 34%…
  7. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 7
    Decreasing Op Costs & Increasing Netback Operating Costs (per boe) Netbacks (per boe) 24.11 20.77 19.68 19.55 17.24 16.56 15.21 15.00 15.20 13.81 13.51 13.20 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q1 10 Q2 10 Q3 10 Q4 10 Q1…
  8. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 8
    Cash Flow Growth Funds from Operations Record cash flow in Q2 2011 (000s & /share) through: 0.54 0.52 25,920 record production; 24,599 0.44 increased oil / liquids content; and 0.33 significant reduction in 0.32 0.32…
  9. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 9
    Strong Comparative Growth & Strong Balance Sheet 60% CFPS Growth (2011e/2010e) 40% 20% 0% Top tier cash flow per -20% -40% share growth -60% -80% 60% 50% 40% PPS Growth (2011e/2010e) Top tier production 30% (boe) per share…
  10. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 10
    VALUE PACE OIL & GAS RODMAN & RENSHAW GLOBAL CONFERENCE SEPTEMBER 2011 11
  11. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 11
    2010 Reserves Breakdown Reserves by Product Reserves by Category Net Present Value by Product (boe, P+P) (, NPV 10% Disc) (, P+P, 10% Disc) NGL NGL 1% 1% 28% Gas Prob 27% Gas 52% 63% Oil PDP 9% 47% PDNP Oil PUD 72%…
  12. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 12
    Pace Underlying Value NGL 1% Gas Oil Proved PV10 11.88 / share Each common share owns 52% 47% Probable PV10 4.71 / share 1.41 boe of reserves 2P PV10 16.59 / share (0.68 bbl of oil) 2010 Net Asset Value - (mm) BT P+P 10%…
  13. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 13
    Low Risk, Low Decline Solid Value 100% 90% PDP % of TP Pace has solid value 80% 70% reserves 60% 50% 40% 30% 77% proved developed 20% 10% producing 0% 10 9 8 P+PA FDC / Q1 2011 annualized CF Low future 7 6 5…
  14. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 14
    Value Today 20 Trading significantly below 18 16 EV/DACF peers - value today 14 12 10 8 6 At mean EV/DACF of 4 2 - 9.1x Pace share price of 16 3.50 P/NAV - 10% a.t. 3.00 2.50 At mean P/NAV 10% of 2.00 1.50 1.32 1.00…
  15. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 15
    RESOURCE UPSIDE PACE OIL & GAS RODMAN & RENSHAW GLOBAL CONFERENCE SEPTEMBER 2011 16
  16. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 16
    Significant Upside Visible Long term Growth Areas Key Attributes High working interest and operational control Focus on top-tier oil and large gas resource plays Large Repeatable Oil Northern Alberta Pekisko/Muskwa Peace River…
  17. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 17
    Peace River Arch - Dixonville Key Attributes Current production: over 3,500 boe/d (86% oil) Acreage Net 54,900 - 86 sections Large Montney C Oil Pool OOIP 150 mmbbls 30 degree API oil Waterflood initiated strong response to…
  18. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 18
    Dixonville: Montney C Reservoir Simulation Cd Oil (bbl/d) CdWater (bbl/d) CdWinj (bbl/d) Gas/Oil Ratio (cf/bbl) 3,000 bbls/d Waterflood response exceeds base case (booked reserves) and current model PACE OIL & GAS RODMAN &…
  19. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 19
    Peace River Arch - Red Earth Area Key Attributes Current production: 600 bbls/d (oil) Total Acreage Gross 56,000 - 88 sections Southern Alberta Net 38,000 - 59 sections Top quality light oil property with Slave Point…
  20. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 20
    Southern Alberta Lithic Glauconite & Mannville Oil Plays Key Attributes Current production: 4,000 boe/d (35% oil) Total Acreage Gross 469,000 - 733 sections Net 281,000 - 439 sections Concentrated assets in high working interest…
  21. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 21
    Northern Alberta: Rainbow/Haro Resource play Key Attributes Current production: 3,500 boe/d (15% oil) Total Acreage Gross 279,000 - 436 sections Net 235,000 - 367 sections Stable, long term shallow gas production base Existing…
  22. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 22
    Pace Oil Enhanced Recovery 12/31/10 Proved 12/31/10 2P Reserves Net Upside Potential Reserves Gross OOIP Pace WI Ultimate Remaining Ultimate Remaining Total Incr Incr Area (mbbls) (%) Recovery Mechanism (% OOIP) (mbbls) (% OOIP)…
  23. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 23
    Rainbow Bluesky A & Banff G Pool Paces largest gas production large, long life, low decline (5-7%) reservoir 100000 10000 1000 100 10 1 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988…
  24. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 24
    Deep Basin Area Elmworth Current Production: 1,600 boe/d (97% gas) Stacked Resource Play Cadomin & Nikanassin + Deep Basin Land Area Gross Acres Net Acres Elmworth 5,800 3,500 Chinook Ridge 26,000 12,700 Bilbo 19,200…
  25. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 25
    Deep Basin Multi-Zone Gas Resource Play PROSPECTIVE NUMBER OF WELLS AND LAND COST PER WELL UNRISKED POTENTIAL Net Est. Drill, Pace WI Unrisked Net Original Book- Net Unbooked Complete Average Pace Net Unrisked ed Unrisked and Tie-in…
  26. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 26
    Farrell Creek BC Key Attributes Working interest: 75%-100% (operated) Net acreage: 19,300 acres (30.2 sections) Current highlights Over 50 Montney wells licensed and drilling in past year Talisman Montney asset sale for 1.05 B…
  27. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 27
    Farrell Creek Montney/Doig Gas Resource PROSPECTIVE NUMBER OF WELLS LAND AND COST PER WELL UNRISKED POTENTIAL Pace WI Est. Drill, Unrisked Net Complete Average Net Original Unbooked and Tie- Production Pace Net Unrisked Net…
  28. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 28
    Key Investment Highlights Strong Growth Production up, oil weighting up and growing Cash flow up and top tier per share growth Excellent results and continued oil focused growth Solid Value Solid reserves, low decline, low risk…
  29. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 29
    Pace Corporate Information Management Directors Fred Woods Fred Woods Tom Simons President & CEO Tom Buchanan Jeff Smith Judy Stripling Peter Harrison Jay Squiers Executive Vice President & CFO Mike Shaikh Volker Braun Vice…
  30. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 30
    For Information Contact Fred Woods President & CEO Judy Stripling Executive VP & CFO Main: 403-303-8500 Investor Relations Email: irpaceoil.ca Website: www.paceoil.ca TSX: PCE OTC: PACEF ../Appendix
  31. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 31
    Strong Financial & Operating Results - Q2 2011 and 2011 Outlook Production Q2 2011 2011e(1) Natural Gas (mcf/d) 49,111 46,200 - 49,500 Oil and Liquids (bbls/d) 6,077 6,300 - 6,750 Total (boe/d) 14,262 14,000 - 15,000 Q2 11 YTD Q2 11 YTD…
  32. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 32
    Pace Delivered Top Finding Costs 2010 and beyond 2010 Full Year H2 2010 Pace Driven Pace & Provident Upstream Activities FD&A Costs FD&A Costs Proved Plus Proved Plus /boe Proved Probable Proved Probable E&D Capital 13.10 12.91…
  33. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 33
    Oil Focused Capital Budget 2011 Project Gross Gross Net Projected Development ROR Capital M Wells Operated Wells Reserves Cost % Wells Mboe /boe Northwest Alberta 26,500 6 6 6.0 850 31.54 23.4 Peace River Arch 30,500 13 12 9.5…
  34. RODMAN & RENSHAW ANNUAL GLOBAL INVESTMENT CONFERENCE – Pace Oil & Gas Ltd. – slide 34
    The History of PACE July 2000 - Midnight Oil & Gas Ltd. raises a 15.0 mm non-brokered blind pool financing to commence operations as a private oil and gas exploration and production company. The Midnight Team comprises the senior…

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