Corporate Presentation September, 2011 Pure Play Light Oil Producer
Corporate Profile Venture Exchange Listed NVS Basic Shares Outstanding 169.4 million Warrants (Strike Price 0.75/share, due 03/31/12) 22.6 million Performance Warrants (Strike Price 0.56/share) 4.2 million Options (Average Strike…
Corporate Snapshot 2011 PRODUCTION (boe/d) Average Production 2,125 boed/d (75% Oil) Exit Production 3,000 boed/d (80% Oil) 2010 RESERVES (mmboe) Total Proved 4.83 (81% Oil & NLGs) Total Proved plus Probable 9.24(84% Oil & NLGs) Proved…
Corporate Growth Record 2009 2010 Percentage Current Percentage Growth Growth Production (boe/d) 324 1,115 244% 2,625 135% Percentage of Oil 26% 54% 108% 78% 44% Boe/d per mm shares 3 7 133% 16 129% Operating Netback (/boe) 7.43 23.52…
Novus Production Volumes Dec 2011 Target 3,500 3,000 boe/d 80% Oil 3,000 New Management Start of Start of & 2010 drilling program 2011 Drilling Program 2,500 Recapitalization 2,000 BOED 1,500 Land acquisition Current…
Business Strategy Target large original oil in place (OOIP) resource plays Focus on high quality light oil resource pools with production and recovery upside Assemble large land positions with operatorship and infrastructure control…
Resource Plays Viking Birdbear Cardium 7
Light Oil Focused Asset Base 8 Corporate Presentation l September 2011
Our Cornerstone Dodsland Viking Light Oil Large original oil in place (OOIP) of in excess of 2 billion barrels Low risk resource style light sweet oil (35 API) Horizontal drilling with multi-stage frac completions Horizontal drilling…
Dodsland - Viking Development History Producing since the 1950s from over 7,500 vertical wells Horizontal wells currently producing over 9,000 barrels per day of light Viking oil First horizontal multi stage fracture technology well…
Dodsland Viking Exploitation Novus drilled 33 horizontal wells in 2010 Novus has drilled 47 horizontal wells to-date in 2011 Horizontal drilling has seen 100% success Novus continues to achieve industry leading drilling and…
Novus Viking Horizontal Type Curve(1) 50 45 Novus Viking Horizontal Type Well 40 35 Payout 30 BOPD 25 20 15 10 IP (30) 46 b/d 5 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Normalized Production…
Novus Flaxcombe Type Curve(1) 80 70 Novus Flaxcombe Viking Horizontal Type Well 60 Payout 50 BOPD 40 30 20 10 IP (30) 71 b/d 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Normalized Production Month…
Viking Horizontal Well Dodsland Saskatchewan Drilling Completion Monobore Technology Limited Entry 600 m lateral leg 12 to 14 stages 90 metres 8 Hole 1,350 m total measured depth 12 tonnes per stage 3 to 4 days to drill Frac…
Dodsland Area Viking Oil Resource Play Corporate Presentation l September 2011 15 15
Flaxcombe Developments 16 16 Corporate Presentation l September 2011 16
Dodsland The Size of the Prize Large Discovered Petroleum Initially In-Place(1) Novus Working Interest Lands 383.2 mmstb Novus Option Lands 176.3 mmstb Total Resources 559.5 mmstb Land with Discovered Petroleum Initially…
Dodsland The Power of Downspacing Well Spacing Drilling Locations Potential Production Potential Reserve Additions (1) Additions (2) 8 wells/section 594 27,324 b/d 29.7 mmbbls 16 wells/section 1,188 54,648 b/d 59.4 mmbbls The…
Developing Birdbear Oil Play WELL LEGEND PRO R26 R25W3 Bottom Hole Locations: Region G G Novus Birdbear Lands A E Location Oil C F Suspended Gas G Dry & Abandoned I Suspended Oil Birdbear Horizontal Wells J Abandoned Oil K…
Developing Birdbear Oil Play 140 Birdbear Average Production Profile Birdbear Characteristics 120 48 Horizontal Wells 750 - 950 m Depth 100 BBL/D Oil 80 1.3mm to Drill and Complete 60 Estimated 125,000 bbls reserves 40…
Wapiti Cardium Oil Developments Dunvegan Potential 19 net locations 2,500m Depth 4.5 MM to drill and complete a Hz well Estimated 3.0 bcf reserves/well Estimated 2.5 mmcf/day/well production 21 21
Quantifying the Opportunity Base Novus has an inventory of over 600 horizontal drilling locations on its resource plays. The majority of the inventory is focused on targeting light oil Oil Drilling Inventory Potential Potential…
Summary VIKING LIGHT OIL DRIVES SUSTAINABLE GROWTH Pure play light oil producer Material increase in production and reserves on a per share basis Ten year inventory of low risk repeatable drilling locations Long-term potential for…
Analyst Coverage Target Recommendation Price Date Canaccord Genuity Buy 1.40 August 26, 2011 CIBC World Markets Sector Performer 1.50 August 26, 2011 Cormark Securities Inc. Buy 1.75 August 29, 2011 Desjardins Securities Buy…
Officers and Directors Management Team Board of Directors Hugh G. Ross, B.A. Michael H. Halvorson (2)(4) President & CEO and Director President, Halcorp Capital Ltd. Ketan Panchmatia, B.Mgt., C.M.A. Harry L. Knutson (1)(3) VP…
Corporate Advisors Evaluation Engineers Sproule Associates Limited Bank National Bank of Canada Auditor Collins Barrow Calgary LLP Solicitor Blake, Cassels & Graydon LLP Transfer Agent Olympia Trust Company For further…
Measurements NON-GAAP FINANCIAL MEASUREMENTS Included in this Presentation are references to certain financial measures commonly used in the oil and gas industry, such as operating netbacks and recycle ratios. These measures have no…
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