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CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc.

Angle Energy, Inc. · Apr 16, 2012 · 38 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. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 1
    CORPORATE PRESENTATION April 2012 CIBC More reach. From every angle. More growth. More value. TSX: NGL
  2. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 2
    WHO WE ARE SKILLED FINDERS OF OIL AND GAS EXPERIENCED Multidiscipline technical team ALBERTA SUCCESSFUL Drillers and acquirers PRODUCER of 16,400 boe/d Includes 7,050 bbls/d of oil and liquids SHARES Basic / Diluted 80.9 MM /…
  3. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 3
    WHAT WE HAVE FOCUSED OPERATING BASE CONTROL ALBERTA LOW COST operations OPEX less than 5.80/boe INFRASTRUCTURE access Ownership/access key infrastructure HIGH INTEREST typically 100% Edson OPPORTUNITY Ferrier LIGHT OIL AND…
  4. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 4
    HOW WE GOT THERE BUILDING A PREMIER LAND BASE EDSON FERRIER FERRIER FERRIER HARMATTAN HARMATTAN HARMATTAN Calgary Calgary 2004 2005 2008 2012 Blind Pool Farmin on Exxon IPO Current Oil Focus Start Up Exit 450 boe/d…
  5. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 5
    WHAT WE MAKE (BESIDES NAT GAS) 7,050 Bbls/d LIGHT OIL AND NGLS 2,000 81.31/bbl 1,800 33.42/bbl 4.77/bbl 1,600 1,400 1,200 104.70/bbl Barrels per Day 1,000 77.98/bbl 1,850 bbl/d 800 1,600 bbl/d 1,650 bbl/d 600…
  6. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 6
    NGL PRODUCTION IN ALBERTA ARE LIQUIDS INCREASING Alberta Propane Production Alberta Butane Production 120 100 110 90 100 80 MB/d MB/d 90 70 80 60 70 50 60 40 Alberta Total Condensate Production Alberta NGL…
  7. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 7
    CONDENSATE AND BUTANE HIGH PRICES FOR BITUMEN DILUENT USE Canadian Production All Oils and Condensate Bitumen production growth will require substantial diluent typical blend is 33% for Condensate pricing is at…
  8. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 8
    2012 STRATEGY MOVING THE NEEDLE ON LIGHT OIL Current Field Est. 16,400 boe/d 5000 Total Liquids 10000 Exit 9,400 bbl/d 9500 Oil and Condensate (bbl/d) 4500 9000 Total Liquids (bbl/d) 8500 4000 8000 3500 Total Liquids…
  9. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 9
    2012 GUIDANCE Average Production Exit Rates 15,500 16,000 boe/d 17,500 18,000 boe/d Average 47% light oil & NGLs Average 52% light oil & NGLs Cash Flow CAPEX 169 MM 105 110 MM Dec CFPS annualized 1.92 Jan CFPS annualized 1.20…
  10. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 10
    CARDIUM LIGHT OIL ASSETS EVOLUTION OF DEVELOPMENT EC E C E C EE F F F EC D E CCEEEE AE E E E E F K AE F F I EDSON FF F FFK F F F K F LE E EE G EEE EE EEEEEE E E J EE EE E EE E EE F F F E J…
  11. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 11
    HARMATTAN CARDIUM OIL LOW RISK GROUND FLOOR DEVELOPMENT R5 R4 R3 R2 R1W5 E SE G J E U V F G CE G F G J G F E E E A F G V E EE E A E EE E E E VI F GV K C V G JE J I C F I E B T33 U G T33 G FC F J M G FU CF F F U F G…
  12. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 12
    HARMATTAN CARDIUM OIL LIGHT OIL 300+ BBL/D IP30 RATES 14-35 Type Curve 500 8 day test Cum 3.3 mbbl Industry Slickwater Avg 16 Wells 450 Industry Nonslickwater Avg 9 Wells 13-35 7 day test Cum 3.1 mbbl Graph shows oil only 400 All…
  13. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 13
    HARMATTAN CARDIUM PROJECT ECONOMICS BY COMMODITY PRICE Current Strip Pricing Flat Edmonton Par 50/bbl 60/bbl 70/bbl 80/bbl 90/bbl 100/bbl NPV 10% (M) (340) 470 1,280 2,100 2,920 3,750 IRR (%) 6 16 26 36 48 60 Payout (Yrs) 6.7…
  14. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 14
    EDSON CARDIUM OIL EARLY SLICKWATER FRAC SUCCESS R18 R17 R16 R15 R14 R13W5 G F F AD G FI GV EA EFI F EUC G G G F L F C KV C F G C A G F F G GU F A F U F F A F G F C K F K K F A F UF G U 200 Edson…
  15. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 15
    EDSON CARDIUM OIL SLICKWATER FRAC SUCCESS TRIPLES OIL RATES Industry Slickwater 250 Completion 200 150 Oil Rate (Bbl/d) Slickwater Typecurve EUR = 150 mbbl NPV = 3.4 MM Non-Slickwater Average 100 EUR = 90 mbbl…
  16. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 16
    MANNVILLE ASSETS HIGH CONDENSATE YIELD PROJECTS LARGE DRILLING INVENTORIES KFF FF F F L F FFF FF FF FFF FF F KD DG GD LDFFK E K L K L FA F F LF K FFFFF FAF FF LFF F FF FF LFF F FF FF FF FK AF KFF FF F F FF F FF F AF F F F F…
  17. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 17
    HARMATTAN MANNVILLE DEVELOPMENT PROGRAM 60% LIQUIDS R4 R3 R2 R1W5 R29 R28 R27 R26W4 U E EE 10,000 I E E UC E E EJ E IE F FF UF J U AU F Mannville NGL Development E E UE F F JEVF E F F 2012 ACTIVITY UE L K F F F LFV…
  18. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 18
    HARMATTAN MANNVILLE HORIZONTAL WELLS 10,000 Average IP 30 Day (14 Wells) 15-13-031-03W5 700 boe/d Tested 2,000 boe/d 40% Gas 42% Gas 14% Condensate 1,000 Production Rate (boe/d) Gas Condensate Wells Type Curve 100…
  19. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 19
    HARMATTAN MANNVILLE PROJECT ECONOMICS BY COMMODITY PRICE Current Strip Pricing Flat AECO Price 0.00/GJ 0.50/GJ 1.00/GJ 1.50/GJ 2.00/GJ 2.50/GJ NPV 10% (M) 1,200 1,600 2,000 2,300 2,700 3,100 IRR (%) 18 20 23 26 29 32 Payout…
  20. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 20
    CATALYST FOR VALUE DOUBLE SIMPLE REASON TO BUY THE STOCK 12.00 9.88/SHARE 10.00 8.00 4.23 NAV (/FDsh) 20120413 Close 6.00 NAV: YE 2011 Reserves Run on April Strip Pricing 4.00 Harmattan Cardium Unbooked Upside on…
  21. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 21
    APPENDIX April 2012 More reach. From every angle. More growth. More value. TSX: NGL
  22. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 22
    PRICE DECK COMPARISON Edmonton Par AECO Condensate 120.00 9.00 130.00 110.00 8.00 120.00 7.00 110.00 100.00 6.00 100.00 90.00 /bbl 5.00 90.00 /mmbtu 80.00 /bbl 4.00 80.00 70.00 3.00 70.00 60.00 2.00 60.00…
  23. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 23
    RESERVE GROWTH PER SHARE 1,100 110 997 1,000 100 900 90 Reserves (BOE) / Thousand Shares 810 800 80 700 70 FD Shares (MM) 600 60 515 500 468 50 433 362 377 400 340 40 300 234 244 271 30 209 200 20 100 41 10…
  24. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 24
    PRODUCTION GROWTH PER SHARE 250 125 198 200 100 178 BOE/D Per Million Shares 156 FD Shares (MM) 150 75 128 125 100 89 50 48 50 25 1,281 3,334 6,586 7,528 9,243 13,200 16,000 boe/d boe/d boe/d boe/d boe/d…
  25. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 25
    ANGLE PROJECT INVENTORY Budgeted Unbooked Unbooked Cost/Well NPV10% Upside Area Project Locations Locations IP EUR(1)/Well (MM) (M) (MM) Harmattan Viking Gas 60 40 60 260 450 4.3 1,600 96 Viking Oil 60 45 65 360 280 4.3 3,400 204…
  26. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 26
    MANNVILLE PER WELL METRICS Mannville NGL Mannville Oil Drilling locations 100 20 40 Capital per well (M) 4.0 4.0 Well IP1 (boe/d) 600 280 Reserves (mboe) 750 (55% Liquids) 275 (66% Liquids) NPV 10% (M)* 4,700 4,300 IRR (%) 40…
  27. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 27
    CARDIUM OIL PER WELL METRICS Strachan/Ferrier Harmattan Edson Cardium Cardium Cardium Capital per well (M) 4.2 3.5 4.0 Drilling Locations 30 120 150 gross/75 net Well IP1 (boe/d) 400 270 235 Reserves (mboe) 290 (42% Gas) 220 (11%…
  28. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 28
    VIKING PER WELL METRICS Viking Gas Viking Oil Drilling locations 45 65 40 60 Well IP1 (boe/d) 260 360 Reserves (mboe) 450 (63% Gas) 280 (25% Gas) NPV 10% (M) 1,600 3,400 IRR (%) 19 36 Payout (Yrs) 4.2 2.5 Netback (/boe) 22.00…
  29. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 29
    DEEP BASIN DEVELOPMENT FA FF EA C R21 A FF C F R20 GG F F R19 G G F G A AA A FF F R18 F GFF CL K FAK G L FK F FC R17 GC G K KC L C R16 AF F F J R15 GI C G R14 G F G C G R13 L G FF F G G G R12 F G C J…
  30. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 30
    WILRICH PER WELL METRICS Drilling locations 75 100 Capital per well (M) 4.1 Well IP1 (boe/d) 400 Reserves (mboe) 375 (15% Liquids) NPV 10% (M) 2,000 IRR (%) 24 Payout (Yrs) 3.5 Netback (/boe) 21.00 Recycle Ratio 1.9 Break…
  31. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 31
    ROCK CREEK PER WELL METRICS Drilling locations 90 140 Capital per well (M) 4.1 Well IP1 (boe/d) 450 Reserves (mboe) 450 (17% Liquids) NPV 10% (M) 3,300 IRR (%) 32 Payout (Yrs) 2.9 Netback (/boe) 24.00 Recycle Ratio 2.7 Break…
  32. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 32
    DUVERNAY SHALE ACTIVITY IN LIQUIDS WINDOW R19 R18 R17 R16 R15 R14 R13 R12W5 G F G U JG K J G I K C G G GGU G G G GG T55 T55 R21 R16 R11 R6 R1W5 G G G G G F F G J K K L G G G GG AGG G G GGEJ ESI ES EE J J J D SEE AI ES…
  33. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 33
    ANGLE UNDEVELOPED LAND BY PLAY Net Sections Undeveloped CARDIUM 209 97% SECOND WHITE SPECKS 253 99% VIKING 249 90% NOTIKEWIN FALHER/WILRICH GLAUCONITIC/BLUESKY 345 83% OSTRACOD ELLERSLIE FERNIE ROCK CREEK 255 89% WABAMUN…
  34. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 34
    ANGLES CURRENT HEDGES Type of Quantity Contract Price /mcf or Volume Period Commodity Contract Contracted (/unit) bbl CDN Mcf/bbl AECO Cdn Apr. 1/11 Mar. 31/12 Natural Gas Financial 2,500 GJ/d 3.775/GJ 3.96 2625 AECO Cdn Apr.…
  35. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 35
    FINANCIAL HIGHLIGHTS 2011 2010 2009 2008 Average production (boe/d) 13,163 9,243 7,528 6,586 Cash flow (000s) 95,686 49,834 40,154 69,801 Cash flow per share () diluted 1.30 1 0.9 1.86 Cash flow netback (/boe) 19.92 17.37 14.63…
  36. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 36
    MANAGEMENT Executive Officers Directors Gregg Fischbuch P. Eng Edward Muchowski P. Eng CEO Chair of Reserve and EH&S Committee Heather ChristieBurns P. Eng Keith Turnbull President and COO Audit Committee* Stuart Symon CMA…
  37. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 37
    ANALYST COVERAGE AltaCorp Capital Inc. Haywood Securities Don Rawson Geoff Ready BMO Capital Markets National Bank Jim Byrne Dan Payne CIBC World Markets Paradigm Capital Adam Gill Ken Lin Cormark Securities Peters and Co.…
  38. CIBC 2012 ENERGY CONFERENCE – Angle Energy, Inc. – slide 38
    FOR MORE INFORMATION CONTACT: Heather Christie-Burns Gregg Fischbuch President & COO CEO Stuart Symon 403-263-4534 VP Finance & CFO investangleenergy.com More reach. From every angle. More growth. More value. TSX: NGL

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