HERE FOR THE LONG RUN CORPORATE PRESENTATION NOVEMBER 2012 TSX: LRE
THE OPPORTUNITY Room to Run Create a strong mid-cap Canadian oil and gas company Focus on the Western Canadian Sedimentary Basin, specifically on areas with potential for resource plays with repeatability and scalability Build…
LONG RUN PROFILE Key Metrics Listing TSX:LRE Shares Outstanding 126 million Production* 24,910 boe/d Oil + NGLs 12,418 bbl/d bbl/d Gas 74.9 MMcf/d MMcf/d Oil Weighting 50% Average Oil Gravity 32 32 API Anticipated 2012 Cash Flow…
PRODUCTION VERSUS PEERS Long Run is Liquids Rich Overall Production (boe/d) Liquids Production (bbls/d) 30,000 16,000 14,000 25,000 12,000 20,000 10,000 15,000 8,000 6,000 10,000 4,000 5,000 2,000 0 0 CR LRE BIR PMT…
VALUATION METRICS VERSUS PEERS Long Run has Deep Value Potential 2013 Enterprise Value/BOEPD 2013 Price/Cash Flow 120,000 12 100,000 10 80,000 8 60,000 6 40,000 4 20,000 2 0 0 CLT LEG WCP BIR Average TBE CR LRE PMT…
RESERVES Balance of Oil and Natural Gas Upside from Proved Reserves Oil versus Gas Proved versus Probable 46% of the Proved plus Probable 67% of the 96 MMboe P+P reserves Reserves are Liquids at year-end 2011are Proved Oil…
KEY PROPERTIES Blend of Exploration and Development Montney 31.7 mmboe (P+P) 9,700 boe/d Duvernay Early- Early-stage, high- high-impact exploration Alberta Viking 16.2 mmboe (P+P) 6,200 boe/d * LONG RUN EXPLORATION…
PEACE RIVER ARCH Dominant land position in multi- multi-zone play 600,000 net acres Primary targets are Triassic age resource plays targeting oil and liquids- liquids-rich gas Current development focus area is Girouxville/…
MONTNEY Long Run Offers the 5th Largest Land Position in the Montney Montney Land Holders (Net Sections) 1,400 1,200 1,000 800 600 400 200 0 LONG RUN EXPLORATION CORPORATE PRESENTATION NOVEMBER 2012 9…
MONTNEY Oil Upside in the Peace River Arch Girouxville/Normandville area Current production approximately 6,000 BOE/d Constructed 5,000 bbl/d bbl/d oil facility in Q2; additional 5,000 bbl/d bbl/d oil facility in Q3 Potential…
MONTNEY Type Curve Economics Montney Horizontal Oil Type Curve IP 90 150 boe/d boe/d 250 2012 Montney Hz Oil Type Curve NPV BT 8% 2.5 million All Montney Hz Greater or equal to 20 Stages 32 Wells On- On-stream cost 2 million…
ALBERTA VIKING Close Proximity to Crude Oil Markets Redwater located near Edmonton Area Current production approximately 6,200 boe/d Viking oil horizontal multifrac/multilateral multifrac/multilateral play 38 38 API oil…
ALBERTA VIKING Type Curve Economics Alberta Viking Well IP 90 50 boe/d 70 NPV BT 8% 1.0 million On- On-stream cost 1.2 million Production (boe/d) 60 50 Payout 19 months 40 30 Recycle ratio (12 month) 2.1x 20…
EXPLORATION Three high- high-impact plays Our exploration projects complement our Tight Triassic extensive development Oil Fairway program Tight Carbonate These projects focus on Fairway evolving plays from concept to full-…
TRIASSIC OIL Strong Land Position Long Run's land position encompasses tight Triassic oil plays, including a developing Montney oil fairway The company also focuses on complementary plays, including Charlie Lake, Doig and…
CARBONATE OIL Oil and gas explorers are aggressively pursuing tight carbonate oil Widespread porosity, low vertical permeability and thick pay make for a good horizontal multi- multi-frac well candidate Long Runs tight…
DUVERNAY The Duvernay shales are analogous to shale plays such as the Barnett and Haynesville in the U.S. Long Run has over 300,000 acres of Duvernay rights The company also has Grande Long Run Duvernay proprietary Duvernay…
WHY LONG RUN EXPLORATION Reasons to invest Increasing netback through light oil development focus Strong and proven management team Financial strength to provide exploration capital in opportunity rich Peace River Arch area…
CORPORATE INFORMATION TSX:LRE Contacts Bill Andrew Chair and CEO Dale Miller President Jason Fleury Vice President, Capital Markets Main: Main: 403- 403-261- 261-6012 Toll- Toll-Free Investor Line: 1-888- 888-598- 598-1330…
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