INTRODUCTION SRX is fourth Storm since November, 1998 (12+ years) Disciplined with capex, objective is per share growth in NAV 61.8 MM shares + 2.8 MM options, TSX-V symbol SRX Management, Board ownership 15% (17% FD) Market cap 93…
FINANCIAL RESULTS Q2 2012 Q2 2011 Production Boe/d prodn per share up 85% 2,584 595 % oil + NGL 43% 17% Revenue 41.71/Boe 35.74/Boe Gas Price 2.04/mcf 3.76/mcf Oil & NGL Price 81.40/bbl 99.60/bbl field netback reduced by higher…
MAJOR AREAS 291,000 NET UNDEVELOPED ACRES Grande Prairie Area (excl Mica) 36,200 net acres, 1,500 Boe/d Horn River Basin 87,700 net acres, 400 Boe/d Umbach 55,000 net acres, 700 Boe/d Other Areas 112,900 net acres Junior, NE BC 24,900…
CORPORATE PRODUCTION 5
UMBACH AREA (NE BC) Northern Lands 61 gross sections (57% avg SRX WI) Montney liquids rich gas 700 Boe/d (25% NGL) Southern Lands 60 bbls/mmcf 44 gross sections NGL price 80% Edm Par (100% SRX WI) 79 net sections 55,000 net acres 4…
UMBACH AREA PRODUCTION 7
UMBACH NORTHERN LANDS Montney proven productive over large area vert & hz wells have delineated 20-25 gross sections (60% WI) 4 producing hz wells Drilling hzs to delineate & expand resource area (not at development stage) H2/12:…
UMBACH MONTNEY GEOLOGY D-52-D C-100-C target on hzs 1-4 new target Upper + middle Montney 47 meters Consistent thickness & porosity over large area Average porosity 6% Average Sw 17% Upper & Middle Montney thickness 45 50…
UMBACH SOUTHERN LANDS 44 sections, 100% WI Large resource, proven productivity Storm has completed & tested 2 verticals hzs have been drilled and tested adjacent to Storm lands Q1/12 drilled D-61-L vertical 10
UMBACH HZ PRODUCTION 11
UMBACH HZ TYPE CURVE 12
UMBACH AREA ADDITIONAL INFO Contingent Resource Evaluation Northern Lands Dec/11 upper Montney only, net pay 26 m, 11.25 net sections (19.75 gross), 57% WI Low Best High Gross DPIIP, raw gas 465 465 Bcf 465 Continue expanding…
GRANDE PRAIRIE AREA (AB & NE BC) Properties from Bellamont (except Mica) 1,500 Boe/d (55% oil+NGL) excl Mica 500 Boe/d shut-in, low nat gas prices Mica sold eff Sept 1/12, 150 Boe/d Higher netbacks & shallow decline provide free cash…
GRANDE PRAIRIE AREA PRODUCTION 15
GRIMSHAW PROPERTY Montney light oil 20 sections, 100% WI Edge of pool 375 Boe/d (85% oil) 14-33 vertical 3 m DPIIP 2035 MMbbls (SRX mgmt) 3-29 vertical pilot 7 m 1% recovery to date (est ult 3%- 6%) Upside for infill hzs on 200 m…
GRANDE PRAIRIE PROPERTIES Inventory 8 12 infill hzs targeting light oil Grande Prairie Montney I, 4-6 hzs 4.2 MM drill/compl/tie-in 1st yr 200-250 Boe/d (30% oil+NGL) 370 Mboe Grande Prairie Dunvegan C, 2 hzs 2 MM drill/compl/tie-in…
GRANDE PRAIRIE HZ PRODUCTION 18
HORN RIVER BASIN HRB (NE BC) Shale gas from Muskwa, Otter Park, Evie shales 400 Boe/d (100% nat gas) 87,700 net undev acres 135 gross sections at 100% WI Confirmed commerciality & size by drilling 2 hzs & 2 verticals hz 1, 12 fracs,…
HRB HZ TYPE CURVE 20
ADDITIONAL INFORMATION Asset dispositions total 18 MM since end of Q2 13.5 MM Mica, 150 Boe/d, eff Sept 1/12, closing Oct 18/12 2.4 MM Red Earth, 25 Boe/d, eff June 1/12, closed Jul 24/12 2.15 MM from sale of 1.5 MM Chinook shares…
SUMMARY Near term growth from liquids rich Montney at Umbach 60 bbls/mmcf 79 net sections, delineated 12-15 net sections to date 45-50 m net pay in upper and middle Montney modifying hzs to improve rates & reserves (still early…
STORM RESOURCES LTD. CONTACT INFO For further information please contact: Brian Lavergne, President and Chief Executive Officer Donald McLean, Chief Financial Officer Carol Knudsen, Manager Corporate Affairs Address: 1208, 250 2nd…
Discovered Petroleum Initially in Place (DPIIP) is defined in the COGEH handbook as the quantity of hydrocarbons that is estimated to be in place within a known accumulation. Discovered Petroleum Initially in Place is divided into…
APPENDIX 26
BELLAMONT TRANSACTION SUMMARY Transaction closed March 23 cost 96.7 MM (37 MM debt +20 MM cash +16.7 MM SRX shares) Storm 23.6 MM private placement, 6.9 MM shares (8.5 MM from management & directors) Bellamont assets 1,930 Boe/d (48%…
GRIMSHAW MONTNEY GEOLOGY Montney average net pay 6 meters Average porosity 17% Average Sw 56% Average pressure 7,300 kPa DPIIP/section 7 MMbbls 28
HRB CORE AREA Core Area Contingent Resources Dec/11 (1 hz & 2 verts proves productivity) Muskwa & Otter Park shales only 19,500 gross acres (100% WI) Low Best High Shale thickness 92 m 92 m 92 m Porosity 3.5% 4.25% 5.0% Gross DPIIP (1)…
HRB MUSKWA & OTTER PARK GEOLOGY x x C-40-C Storm D-20-D Muskwa/Otter Park ECA D-70-J Muskwa + 53 metres Muskwa/Otter Otter Park Park 106 metres 121 metres Muskwa & Otter Park thicken rapidly in front of Slave Pt reef…
HRB ADDITIONAL INFO Results better than offsetting hzs higher rates, shallower decline Estimate 0.9 to 1.0 BCF per frac Estimated hz cost: 4 MM drill, 9 - 12 MM completion (15 fracs) Improve results by increasing fracs, reducing cost…
RESERVES Reserve reconciliation PDP Mboe TP Mboe 2P Mboe 2P FDC 2011 Year End 1,568 3,714 8,322 71 MM SGR 520 2,645 6,819 74 MM Bellamont 4,028 4,611 8,340 42 MM TOTAL 6,116 10,970 23,493 187 MM 2011 all-in 2P FD&A 15.39/Boe HRB:…
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