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MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd

Painted Pony Petroleum Ltd · Mar 23, 2015 · 30 slides

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Slides

  1. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 1
    Corporate Presentation March 23, 2015 1
  2. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 2
    Growing a Premier Natural Gas Asset Focus on Montney Natural Gas in Northeast British Columbia: Successfully assembled, explored and de-risked a massive resource play 2.9 Tcfe (488 Mmboe) Proved Plus Probable Reserves(1) Moving…
  3. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 3
    Corporate Snapshot Financial TSX: PPY PPY is included in the TSX Composite Index 99.5 million Shares Outstanding(1) 107.6 million Fully Diluted Shares Outstanding (9.17 average strike price)(1) 6.03 - 14.75 52-Week Trading…
  4. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 4
    Corporate Snapshot Production, Reserves & Net Asset Value 94-G-2 94-G-1 94-H-4 94-G-2 94-H-4 13,665 boe/d Q4 2014 Average Production (93% natural gas) 47% increase over Q4 2014 Average Production of 9,312 boe/d 16,000 boe/d…
  5. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 5
    Impressive & Consistent Reserves Growth (R) 4.91 500 5 600 Probable 6 488 Proved MMboe 400 2P Reserves Per Share 4 Reserves Per Basic Share (boe/share) 500 5 164% compound annual growth in Reserves Per Basic Share…
  6. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 6
    Impressive & Consistent Production Growth(P) 40,000 boe/d Exit (5-Year 25,000 25,000 Model) 250 250 Gas Oil & NGL Production per Million Shares 23,000 boe/d 20,000 20,000 (5-Year 200 200 145% compound annual growth in…
  7. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 7
    The Montney Trend in Western Canada A Leading North American Gas Play Key Attributes Tight dolomitic siltstone reservoir Better reservoir than a shale 300 meters (1,000 ft.) thick 4x Thicker than the Marcellus Continuous…
  8. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 8
    Painted Ponys Montney Position Premium Assets Located in the Optimum Area Key Attributes Large contiguous land base with year-round access 217 Net sections (139,049 net acres) 2nd Largest position in northern Montney west of…
  9. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 9
    Substantially De-Risked Moving into Development Phase Alaska Highway 2015 Budget Blair 104 Estimated expenditures (millions) West Alliance 14.0 Gross and net wells planned to drill Blair Pipeline 5 miles 11.0 Gross and net…
  10. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 10
    Improved Performance Through Technology Open-Hole Ball-Drop Completions PPY-operated Ball-Drop Completions Ball-Drop vs. Perf. & Plug Completions a-A091-F (Ball-Drop) 7 100% a- 091-F ( Perf. & Plug) 90% 6 % Improvement 80% 26-L…
  11. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 11
    Improved Performance Through Technology Parallel-Pair Drilling 26-L (1) Region of Completion West 5-K (1) Enhancement Blair Blair 41-F (1) 300-350 m Inter-well Spacing 90-100 m Average 11-F (1) Fracture Stage Spacing 6-F…
  12. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 12
    Montney Production Curves Technology Drives Step-Change 9 Parallel-Pairs (8 Wells) 14 Bcf Type Well 8 Ball-Drop (20 Wells) 11 Bcf Type Well 7 10 Bcf Type Well (Blair-Daiber 5-year plan) Perf. & Plug (37 wells) Producing Rate…
  13. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 13
    Top Wells Among All Montney Operators 7 140 276 Painted Pony (6.2 MMcf/d) 6 120 2013-2014 Average Peak Month Rate (MMcf/d) 5 100 4 80 Well Count Average 3.1 MMcf/d 3 60 2 40 1 20 0 0 1 2 3 4 6…
  14. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 14
    Townsend Development Plan 2015 Program Development Program Economics 6.7 million (CDN) Drill, complete, and equip (2015 10%) 5.2 MMcf/d I.P.30 production rate 7 Bcf P+P reserves per well 420 Mbbl P+P reserves per well 60…
  15. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 15
    Blair-Daiber Development Plan 2015 Program Development Program Economics 6.7 million (CDN) Drill, complete, and equip (2015 10%) 7.0 MMcf/d I.P.30 production rate 10 Bcf P+P reserves per well 150 Mbbl P+P reserves per well 15…
  16. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 16
    Montney Development Economics Flat Price Sensitivities 90% Townsend (7 Bcf) Blair (10 Bcf) Blair (14 Bcf) 80% 85% 70% 60% 60% Rate of Return 50% 48% 48% 40% 40% 30% 34% 32% 20% 23% 21% 18% 10% 12% 0.3 4% 1.6…
  17. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 17
    5-Year Montney Development Model Processing Infrastructure Build-out Drives Growth 120,000 700 2019 2nd AltaGas Townsend Plant (48 MMcf/d) 2018 57% compound annual 100,000 production growth (2015-2019) 600 2017 Production…
  18. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 18
    5-Year Montney Development Model Cash Flow Growth 700 Cash Flow 647 647 647 CAPEX 600 Cash Flow and CAPEX ( millions) 590 Free Cash Flow 523 523 523 500 495 435 435 435 400 416 400 348 300 287 287 287 297 280…
  19. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 19
    Painted Pony AltaGas Strategic Alliance Key Provisions Initial 15-Year strategic alliance with AltaGas Ltd., for natural gas and natural gas liquids (NGL) processing, marketing and transportation Liquids-Rich Natural Gas Processing…
  20. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 20
    Painted Pony AltaGas Strategic Alliance Key Facilities Townsend Liquids-Rich Gas Processing Alaska Highway New Townsend Facility: Major new shallow-cut facility 198 MMcf/d gross capacity West Blair Alliance Pipeline PPY has…
  21. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 21
    Proposed West Coast LNG Projects A Long Call Option for PPY Gas Selected Export Canadian LNG Projects Capacity British Fort Nelson Proposed Shell LNG Canada TransCanada Columbia Petronas In-service 2019 3.2 Bcf/d Proposed PPY…
  22. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 22
    The Best Pony in the Race Premier Montney Asset Base Large, contiguous land position with year-round access, located 100% in B.C. High working interest with operatorship High-rate, liquids-rich, sweet natural gas wells Proven low…
  23. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 23
    Appendices & Disclosures 23
  24. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 24
    Analyst Coverage Institution Analyst AltaCorp Capital Jeremy McCrea Canaccord Genuity Corp. Anthony Petrucci CIBC World Markets Adam Gill Cormark Securities Inc. Garett Ursu FirstEnergy Capital Cody Kwong GMP Securities…
  25. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 25
    Dec. 31, 2014 Canadian Natural Gas Reserves 8,000 7,000 Canadian Natural Gas 2P Resrves (Bcf) 6,000 5,000 4,000 3,000 2.6 Tcf 2,000 1,000 0 Source: Company press releases and Annual Information Forms. * KEL +…
  26. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 26
    Montney - The Canadian Marcellus Similar Play Area - But 4x Thicker with Better Initial Declines Montney Fairway Proposed West Coast The Marcellus: A true shale reservoir. LNG Export Sites Western Canada 70 meters (up to 225 ft)…
  27. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 27
    Strategic Alliance with AltaGas AltaGas Corporate Profile Calgary-headquartered, Canadian natural gas mid-streamer Currently processing more than 2 Bcf/d natural gas and 70,000 bbls/d NGL Owns over 1,100 km of gas and NGL…
  28. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 28
    Strategic Alliance with AltaGas Marketing Opportunities AltaGas becomes PPYs Primary Natural Gas and NGL Marketer Market-Competitive Product Pricing AltaGas commits to seeking transactions at sales prices greater than comparable…
  29. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 29
    Canadas Proposed West Coast LNG Projects Chevron Approved Pipeline 42 29
  30. MARCH 2015 CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 30
    PPY Corporate Overview Legal Burstall Winger Zammit LLP Auditor KPMG LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Banks National Bank of Canada Alberta Treasury Branch Canadian Imperial Bank of Commerce The Bank of…

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