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23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd

Zargon Oil & Gas Ltd · Dec 11, 2012 · 66 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. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 1
    23rd Annual CAPP Investment Symposium Corporate Presentation December 11 & 12, 2012 WWW.ZARGON.CA
  2. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 2
    Highlights (As at November 27, 2012 unless otherwise stated) Listed on Toronto Stock Exchange in 1993: Symbols: ZAR; ZAR.DB Common Shares Outstanding: 29.81 million (basic) Market Capitalization: 245 million Returns to shareholders…
  3. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 3
    Highlights (As at November 27, 2012 unless otherwise stated) Financially Strong 57.5 million Convertible Debenture matures in 2017, yielding 6% annually 165 million bank line confirmed in October 2012 with 42 million committed at…
  4. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 4
    Financial & Operational Highlights (Quarter ended September 30, 2012) Q3 2012 Financial Highlights Funds flow 14.4 million Dividends 7.8 million net of the DRIP Capex 10.4 million, including 1.8 million of ASP capital Q3 2012…
  5. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 5
    Business Plan Oil Exploitation (increasing reservoir oil recovery factors) Increase oil production, reserves and ultimate recoveries from existing oil pools through waterfloods, development drilling and other production optimization…
  6. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 6
    Focused on Oil Exploitation Oil Production (bbl/d) Natural Gas Production (mmcf/d) 6,000 35 5,000 30 25 4,000 20 3,000 15 2,000 10 1,000 5 0 0 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 07 08 08 09 09 10…
  7. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 7
    Successful Oil Acquisition and Disposition Strategy In 2008-2010, we completed five corporate acquisitions and one significant property acquisition that brought oil exploitation opportunities (average cost of 41,000 per boe/d): Rival…
  8. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 8
    Oil Exploitation Properties (6 Conventional and 1 Tertiary ASP Project at Little Bow) Williston Basin Two Project Types Midale Drainage Frobisher Structure Frys Weyburn Ralph Steelman Elswick Mackobee Coulee Haas Truro
  9. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 9
    Conventional Oil Exploitation Projects Visible Multi-Year Drilling Inventory & Project Opportunities Net Alberta Plains Project Locations Comments Hamilton Lake Multi-frac horizontals 50+ Will require waterflood re-implementation,…
  10. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 10
    Conventional Project Oil Production and Dividend Sustainability Oil Production Sustainability (before ASP growth): Oil production (per share) is expected to be maintained 2013 through 2016 from our existing non- ASP project inventory,…
  11. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 11
    Historical Production Addition Costs Worksheet 70.0 Oil Production Efficiency Cost 4 Quarter Moving Average 60.0 (M/bbl/day) 50.0 40.0 30.0 20.0 10.0 0.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2009 2009 2009…
  12. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 12
    Production Guidance (Nov. 7, 2012 Press Release) Oil and liquids: - Q3 2011 5,200 barrels per day (achieved with 5,330 bbl/d) - Q4 2011 5,400 barrels per day (achieved with 5,619 bbl/d) - Q1 2012 5,400 barrels per day (achieved with…
  13. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 13
    Net Asset Value Calculations Zargon 2011 Year End NAV NAV Calculation (Dec 31, 2011) Proved + Prob. McDaniel Est. (PVBT 10%) 559 million Undeveloped Land 33 million Deduct Net Working Capital & Bank Debt - 109 million Net Asset…
  14. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 14
    Low Corporate Decline Rate and High PDP Reserves Allocation Average Annual Decline Rate (%) Proved Producing Reserves (% of P+P) 0 20 40 60 80 100 0 20 40 60 80 100 Zargon Companies Companies Average 35% Average 39%…
  15. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 15
    Hedging Strategy and Current Hedges Zargon uses hedges to help fund dividends and capital programs during periods of lower commodity prices. Our policies allow for the forward sale of: up to a 60 percent maximum of estimated…
  16. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 16
    Six Conventional Oil Exploitation Projects WWW.ZARGON.CA
  17. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 17
    Oil Exploitation Project Review Six active project areas in three exploitation teams Alberta Plains North Hamilton Lake Viking project Bellshill Lake Development & Optimization Killam Glauconite Project Alberta Plains South Taber…
  18. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 18
    Alberta Plains North Orientation Map Camrose Jarrow Wainwright Killam Glauc Bellshill Lake Provost Stettler Hamilton Lake
  19. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 19
    Alberta Plains North Viking Oil Drilling Activity (2007 to 2012) In the greater Hamilton Lake area since 2007, nearly 300 multi-frac horizontal wells have Jarrow been drilled targeting the Viking formation In the last two years,…
  20. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 20
    Hamilton Lake Viking Oil Unit Horizontal Drilling 3 Well Program in Q4 3 Wells drilled in Q4/2012 31 API gravity sweet crude Developed in the 1960s Waterflood was prematurely suspended in the 1980s High reservoir pressure due…
  21. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 21
    Hamilton Lake Viking Oil Unit Production History of the Viking Unit 5,000 100% Viking B 90% Viking C 4,000 80% Oil Production Rate ( bbl/day ) 70% 3,000 60% Oil Cut ( % ) 50% 2,000 40% 30% 1,000 20% 10% 0…
  22. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 22
    Hamilton Lake Viking - Productivity Implications Horizontal Well Orientation, Fracture Optimization N Production history shows that water injection has trended NE to SW between injectors, leading to early water breakthrough in…
  23. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 23
    Hamilton Lake Viking Oil Unit Historic Well Performance & Type Curve Hamilton Lake - Horizontal MultiFrac Wells 1,000 Field Estimated Daily Oil Production ( bbl/day ) 100 Target Well 10 1 00-01 00-02 00-03…
  24. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 24
    Hamilton Lake Viking Oil Unit Type Curve Economic Parameters Analysis Using Base Pricing Hamilton Lake Viking - Primary Depletion Type Curve Evaluation CAPEX (M) 1,800 3,000 PV10 (M) 286 Target Well: IP30 90 bbl/d, 75 Mbbl oil, 1.4…
  25. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 25
    Bellshill Lake Stable Glauconite Oil Production 1,000 100,000 Fluid Rate ( bbl/d ) Oil Rate ( bbl/d ) Optimization & H2H Pool Infill Drilling 100 10,000 Wells ( ) 10 1,000 2005 2006 2007 2008 2009 2010 2011 2012…
  26. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 26
    Bellshill Lake Historic Well Performance & Type Curve Bellshill Lake - Development & Optimization 1,000 Field Estimated Daily Oil Production ( bbl/day ) 100 10 1 00-01 00-02 00-03 00-04 00-05 00-06 00-07 00-08…
  27. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 27
    Bellshill Lake Type Curve Economic Parameters (Re-entry) Analysis Using Base Pricing Bellshill Lake - Well ReEntry Type Curve Evaluation 2,000 CAPEX (M) 400 PV10 (M) 1,105 Reserves - Oil (Mbbl) 51.0 Before Tax DCF 10% ( M )…
  28. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 28
    Killam Glauconite Oil Project Waterflood Development Candidate 26 Degree API sweet crude Zargon drilled 7 Hz producers 100% WI in four sections Significant waterflood upside Pilot waterflood to commence injection by March 2013
  29. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 29
    Killam Glauconite Oil Project Historic Well Performance & Type Curve Primary Depletion Performance Killam Glauconite - Oil Project 1,000 Field Estimated Daily Oil Production ( bbl/day ) 100 Target Waterflood Well 10…
  30. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 30
    Killam Glauconite Oil Project Type Curve Economic Parameters Killam Glauconite Project - Primary Depletion Type Curve Evaluation Analysis Using Base Pricing 2,500 CAPEX (M) 1,350 Target Well: IP30 60 bbl/d, 75 Mbbl oil, 1.68 MM…
  31. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 31
    Alberta Plains South Orientation Map Little Bow Enchant Vauxhall Retlaw Grand Forks Taber Lethbridge Taber
  32. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 32
    Taber South Sunburst Hz Oil Development & Waterflood Production Contribution by Drilling Program Date 1,000 Base 2008 2009 2010 Q1 2011 Q3 2011 900 Sunburst Pool Outline 800 700 Oil Rate ( bbl/day ) 600 500 400…
  33. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 33
    Taber South Sunburst Waterflood Project Historic Well Performance & Type Curve Taber Sunburst - Horizontal Oil Exploitation Project 1000 Field Estimated Daily Oil Rate ( bbl/day ) 100 10 1 00-01 00-03 00-05…
  34. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 34
    Taber South Sunburst Waterflood Project Type Curve Economic Parameters Analysis Using Base Pricing Taber Sunburst Oil Project - Type Curve Evaluation CAPEX (M) 1,100 4,000 PV10 (M) 2,450 3,500 Reserves - Oil (Mbbl) 100.0 30 day…
  35. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 35
    Williston Basin Orientation Map Saskatchewan Manitoba Ralph Frys Weyburn Steelman Elswick Estevan Workman North Dakota Haas Truro Mackobee Coulee
  36. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 36
    Williston Basin Steelman Property Production Growth (Frobisher Structure) Gross Area Production Additions Production Contribution by Drilling Program Date 1,000 Pre 2008 2008 2009 2010 2011 Oil Rate ( bbl/d ) 100…
  37. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 37
    Field Estimated Daily Oil Production ( bbl/day ) 1 10 100 1,000 00-01 00-02 00-03 00-04 00-05 00-06 00-07 00-08 00-09 00-10 00-11 00-12 01-01 Well Production History 01-02 01-03 01-04 01-05 01-06 01-07…
  38. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 38
    Williston Basin Frobisher Structure Wells Type Curve Economic Parameters Analysis Using Base Pricing CAPEX (M) 1,240 Williston Basin Structural Project (Frobisher) Type Curve 4,000 PV10 (M) 2,495 Reserves Oil (Mbbl) 84.0 3,500 30…
  39. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 39
    Williston Basin Midale Drainage Wells Historic Well Performance & Type Curve Williston Basin - 2010 & 2011 Midale Drilling Program 1,000 Field Estimated Daily Oil Production ( bb/dl ) 100 10 1 00-01 00-01 00-03…
  40. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 40
    Williston Basin Midale Drainage Wells Type Curve Economic Parameters Analysis Using Base Pricing Williston Basin Drainage Project (Midale) Type Curve CAPEX (M) 1,320 3,500 PV10 (M) 1,493 3,000 Reserves Oil (Mbbl) 75.0 30 day rate…
  41. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 41
    Zargon Conventional Oil Exploitation Projects Evaluations Based on Actual Zargon Field Results Production [1] Potl/ Oil 30 Day 6 Month CAPEX PV10% P.I.R. F&D Addition Project Name Booked Reserves Oil Rate Oil Rate (M) (M) [4] 10%…
  42. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 42
    Little Bow Alkaline Surfactant Polymer (ASP) Tertiary Recovery Project WWW.ZARGON.CA
  43. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 43
    Zargon Little Bow ASP Project Little Bow ASP: Phase 1&2 Development Zargon is advancing an ASP Project in the Alberta 15-18W4 Little Bow area of Southern Alberta Expect to increase oil recovery from this Little Bow Mannville P Pool…
  44. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 44
    ASP Chemical Flooding Recovers Bypassed Oil ASP floods utilize: Rock Rock Surfactants (detergent) to mobilize oil that waterflooding alone leaves Water Trapped Oil Alkali & Surfactant Mobilized Oil trapped in the reservoir…
  45. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 45
    ASP Chemical Flooding Injection Schedule Injection Sequence 1) ASP: A blend of Alkali, Surfactant and Polymer mobilizes trapped oil 2) Polymer Push: Polymer solution displaces mobilized oil to producing wells 3) Terminal…
  46. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 46
    Canadian ASP Projects Grande Prairie Mooney (Black Pearl) In Progress July 2011 Scheme Approved Edmonton Coleville (Penn West) Feb. 2011 Strathmore Suffield (Terrex) (Cenovus) Apr. 2007 Battrum Calgary (Hyak Energy)…
  47. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 47
    Husky Taber and Zargon Little Bow Mannville Pools Analogous Production History Zargon Little Bow Production History 100,000 100% Oil Production & Water Injection (bpd) Oil Cut Little Bow Upper Mannville 10,000 10% I and P Pool…
  48. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 48
    Husky Taber and Zargon Little Bow Mannville Pools Analogous Production History Little Bow Upper Mannville Taber Mannville B (Husky) and Little Bow Mannville I / P (Zargon) I and P Pool (Zargon) Oil Cut vs Recovery Factor Husky…
  49. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 49
    Husky Taber and Zargon Little Bow Mannville Pools Analogous Reservoir and Fluids Taber (Husky) Little Bow (Zargon) ASP Screening Lithology Sandstone Sandstone Sandstone API Oil Gravity 19 21 15 Mean Depth (ft) 3,226 3,555 < 6000…
  50. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 50
    Husky Taber Mannville B ASP Flood Continued Strong Performance 100,000 ASP Injection Polymer Injection 100.0% Peak Oil Cut: 13% 10,000 10.0% Oil Production (bpd) Oil Cut (%) Initial Oil Cut: 2% Oil Cut Peak Oil: 1814…
  51. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 51
    Husky Taber Mannville B ASP Flood ASP Flood Reserves ASP Polymer Terminal 100% Waterflood Oil Cut (%) Oil Cut 10% ASP Flood Decline Base Waterflood Decline 12% DPIIP 1% 20% 25% 30% 35% 40% 45% 50% 55% Cumulative…
  52. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 52
    Little Bow ASP Development: Phase 1&2 Little Bow ASP: Phase 1&2 Development Areas Phased development approach for Little Bow and future pools ASP facilities designed for multi-phase development Little Bow developed in two…
  53. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 53
    Little Bow ASP Oil Recovery: Phase 1&2 Little Bow ASP Production: Phases 1 & 2 Base Phase 1 Phase 2 2000 Incremental oil rate peaks in 1800 12% Recovery excess of 1,500 bopd in 2017 1600 1400 Phase 2 4.47 mmbbl Zargon…
  54. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 54
    Little Bow ASP Capital Costs (non-Chemical) Phase 1 Phase 2 Total (MM) (MM) (MM) ASP Facility 32.3 1.7 34.0 Battery 9.2 3.2 12.4 Pipelines 1.5 3.2 4.7 Water Disposal/Source 1.5 0.0 1.5 Subsurface/Surface 3.0 4.2 7.2 47.5 12.3…
  55. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 55
    Little Bow ASP Capital Costs (non-Chemical) Phase 1 Phase 2 Total (MM) (MM) (MM) ASP Facility 32.3 1.7 34.0 Battery 9.2 3.2 12.4 Pipelines 1.5 3.2 4.7 Water Disposal/Source 1.5 0.0 1.5 Subsurface/Surface 3.0 4.2 7.2 47.5 12.3…
  56. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 56
    Phases 1&2: Expenditure & Net Cash Flow Little Bow ASP - Phase 1&2 Capital & Chemical Costs and BTax NCF (As Spent - Annual) Capital+Chem NCF Cumulative NCF 40 120 30 90 20 60 Cumulative ( Millions) 10 30 Millions…
  57. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 57
    Alberta EOR Royalty Reform Incentive Proposed Alberta EOR Royalty program (non oil sands) would be similar to other jurisdictions (e.g. Saskatchewan) and other Alberta programs (e.g. oil sands) and would enable increased EOR project…
  58. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 58
    Phases 1&2 Price Sensitivity: Before Tax ROR Little Bow ASP Phases I & 2 BTax ROR vs. Price 24 22 20 Increment from EOR ROR (%) 18 Royalty reform 16 Base Price 14 12 10 65.00 75.00 85.00 95.00 105.00 115.00…
  59. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 59
    Phases 1&2 Recovery Sensitivity: Before Tax ROR Little Bow ASP Phases I & 2 BTax ROR vs. Oil Recovery 22 20 Increment from EOR 18 Royalty reform ROR ( %) 16 Base R.F. 14 Incremental Before Tax 12 PV10 from EOR…
  60. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 60
    ASP Followup Development ZAR W.I. DPIIP* W.I. (%) (mmbbl) Phases 1 & 2 LB I Pool 100 31 LB P Pool 100 8 Followup U&W Unit 68 19 MM Unit 100 5 C8C / X8X 81 7 Total 70 * ERCB DPIIP Data Little Bow Phases 1 - 4 Injection…
  61. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 61
    Project Economics - Phases 1 - 4 ASP Development Forecast - Phase 1-4 Base Phase 1 Phase 2 Phase 3 Phase 4 2500 Zargon W.I. Production 2000 Phase 3&4 Phase 1&2 11% Recovery 1500 12% Recovery BOPD 1000 500 0 2012…
  62. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 62
    Little Bow ASP Upside Potential Little Bow ASP Undiscounted Cash Flow (Net Zargon WI - Before Tax) 500 450 Little Bow ASP Upside 400 Phases 3&4 Development +2% DPIIP Recovery 350 +10/bbl Edmonton Price Millions of Dollars…
  63. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 63
    Little Bow ASP Project: Q&A Why ASP for Little Bow ASP is an exciting, commercially proven technology, for a small subset of Alberta oil reservoirs (high permeability, good reservoir conformance, minimal gas caps or water legs, water…
  64. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 64
    Current ASP Project Funding Status Bank Lines Bank lines set at 165 million in October 2012 review. Zargon has over 120 million of borrowing capacity. Little Bow ASP Project is Moving Forward 10 million of capital is to be spent in…
  65. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 65
    Key Takeaways at Current Share Price (November 27, 2012) Zargons oil exploitation business supports the current 8+ percent dividend and sustains per share oil production. Zargon has simplified its business to focus on six conventional…
  66. 23RD ANNUAL CAPP INVESTMENT SYMPOSIUM – Zargon Oil & Gas Ltd – slide 66
    23rd Annual CAPP Investment Symposium Corporate Presentation December 11 & 12, 2012 WWW.ZARGON.CA

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