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NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc.

Angle Energy, Inc. · Nov 13, 2012 · 35 slides

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Slides

  1. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 1
    CORPORATE PRESENTATION November 2012 More reach. From every angle. More growth. More value. TSX: NGL
  2. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 2
    ANGLES GROWTH DRIVER CARDIUM LIGHT OIL 14.00/Sh Unbooked NAV 275 Unbooked Locations 10 Years Drilling Inventory Cardium is the Major Play in Angles Asset Base Majority of Capital Allocated to this Play Going Forward November…
  3. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 3
    ANGLE ENERGY MID CAP ORGANIC GROWTH 15,000 BOE/D SHARES (BASIC) SASK. 80.9 MM B.C. ALBERTA MARKET CAP 3.72/share 301 MM DEBT (Q3 2012) / BANK LINE 174.5 MM / 250 MM Edson 60 MM Debenture 12.55 Strike EDMONTON Q3 2012 AVG…
  4. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 4
    SOLID TRACK RECORD OF GROWTH Reserves Per Share Growth Production Per Share Growth VISIBLE PATH TO INCREASED VALUE November 2012 5
  5. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 5
    ANGLES OIL AND NGLS 49% of VOLUMES PRODUCT PRICING RELATIONSHIP TO WTI 2011: Average Price Differentials to WTI Increasing Oil and Condensate % in Edmonton Light WTI +1.33/bbl Condensate 106% of WTI Total Liquids Butane 69% of WTI…
  6. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 6
    2012 GUIDANCE Average Production Exit Rates 15,000 boe/d 16,000 boe/d Average 45% light oil & NGLs Average 47% light oil & NGLs Cash Flow CAPEX 87 92 MM 161 163 MM Ending Net Debt Well Count 237 242 MM 48 gross / 37.5 net Q4…
  7. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 7
    ANGLES SOUTHERN ASSETS PRODUCTION 12,200 BOE/D Angle Land All Rights Cardium Producers Cardium HZ Drills 2008 to date Asset Highlights Opex 5.20/boe Average Liquid Yield 150 bbl/mmcf Netback 3.00/GJ & 95/bbl WTI 27.00/boe Asset…
  8. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 8
    HARMATTAN CARDIUM OIL LOW RISK GROUND FLOOR DEVELOPMENT Cardium Per Well Economics(1) ANGLE 13-10 Testing Type Well Economics ANGLE 14-13 HZ IP30 157 bbl/d D,C,E&T 3.3 MM Recycle 3.6x IP30 270 boe/d (11% gas) Netback…
  9. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 9
    HARMATTAN CARDIUM OIL AVERAGE IP30 280 BBL/D (16 WELLS) 700 070303203 030303203 Slickwater Fracs 143503103 02/133503103 600 Profitability 141003203 151003203 161003203 02/011203103 143603103 133603103 500 142703103 152703103…
  10. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 10
    HARMATTAN CARDIUM INITIAL PROGRAM PERFORMANCE Harmattan/Garrington Cardium Results Pad Efficiencies 500 25 450 Angle Results Oil Rate IP 30 (bbl/d) 400 Competitor Results 20 350 300 15 Drill Days 250 200 10 150 100 5…
  11. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 11
    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) 590 1,375 2,150 2,950 3,700 4,500 IRR (%) 16 26 36 48 62 77 Payout (Yrs) 4.4…
  12. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 12
    HARMATTAN CARDIUM DRILLING PACE VS. CASH FLOW PER SHARE 6,000 Annualized CFPS IP 6 MONTH 34,500/boepd 5,000 1.10/sh Typecurve Capex 119MM (36 Wells) Total Play Production (boe/d) 4,000 0.80 sh Capex 79MM (24 Wells)…
  13. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 13
    HARMATTAN MANNVILLE NGL RICH GAS YIELD 200 BBL/MMCF HZ IP 6 month Capital Efficiency 14,300/ boe/d Mannville Per Well Economics(1) MANNVILLE OP COSTS ANGLE 15-34 HZ Testing 3.75/boe Type Well Economics CURRENT ACTIVITY 1 well testing…
  14. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 14
    HARMATTAN MANNVILLE HORIZONTAL PROGRAM PERFORMANCE Mannville HZ Well Performance Mannville Capital Efficiency 10,000 60,000 IP 6 month 4-12 Capital Efficiency Average 50,000 750boe/d 14,300/boepd 40,000 Production Rate…
  15. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 15
    ANGLES NORTHERN ASSETS PRODUCTION 2,800 BOE/D Asset Highlights Cardium Opex 8.00/boe Mannville Rock Creek Gas GHV 1,125 btu/scf Netback 3.00/GJ & 95/bbl WTI 21.30/boe Duvernay EDSON Asset Production Mix Unbooked Cardium…
  16. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 16
    EDSON CARDIUM OIL EARLY SLICKWATER FRAC SUCCESS 200 Edson Cardium Typecurve 4-35 Non-op IP30 147 bbl/d 1-34 Non-op IP30 = 126 bbl/d 150 Oil Rate (bbl/d) Industry 4-26 IP30 200 bbl/d Product Makeup 8 month cum 37 mbbls 72%…
  17. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 17
    WHAT ELSE IS HAPPENING DUVERNAY SHALE SPECULATIVE RESOURCE VALUE Duvernay Type Log Angle Edson4365217W5 Talisman R.R. Jan 28, 2011 Chevron Lic. Nov 16, 2011 & Jul 30, 2012 ANGLE 4365217W5 Vermilion 02/15-22 R.R. Apr 6,…
  18. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 18
    ANGLES UNBOOKED POTENTIAL 30.00 24.87 25.00 Edson Cardium 3.61 20.07 20.00 Mannville Mannville 4.20 4.20 NAV (/sh) 15.00 Ferrier & Harmattan Ferrier & Harmattan Cardium 10.00 Cardium 10.50 10.50 4.80 5.00 Edson…
  19. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 19
    ANGLES UNBOOKED POTENTIAL Capital Recoverable Unbooked Required Volume NPV 10% Project Locations (MM) (MMboe) (MM) NAV (/sh) Southern Assets YE 2011 2P Reserves 348 53.7 435 5.37 Cardium 201 686 46.0 850 10.50 Mannville 95 388…
  20. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 20
    APPENDIX More reach. From every angle. More growth. More value. TSX: NGL
  21. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 21
    PRICE DECK COMPARISON Edmonton AECO C2 120.00 10 25.00 9 100.00 8 20.00 7 80.00 6 15.00 /mmbtu /bbl /bbl 60.00 5 4 10.00 40.00 3 2 5.00 20.00 1 0.00 0 0.00 C3 C4 C5+ 70.00 90.00 120.00 80.00 60.00…
  22. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 22
    ANGLE PROJECT INVENTORY Budgeted Unbooked(2) Unbooked Cost/Well NPV10%(2) Upside Area Project Locations Locations IP (1) EUR /Well (MM) (M) (MM) Harmattan Viking Gas 60 60 260 450 4.3 1,300 78 Viking Oil 60 65 360 280 4.3 2,800…
  23. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 23
    ANGLE UNRISKED OIL INVENTORY TARGET LOCATIONS AT PRICE VARIABILITY 450 400 First 3 Year Average Gas Price 3.00/GJ 350 Harmattan Viking Total Company Inventory Locations 65 300 Ferrier Cardium 30 250 Harmattan Mannville…
  24. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 24
    ANGLE UNRISKED GAS INVENTORY TARGET LOCATIONS AT PRICE VARIABILITY 900 800 First 3 Year Average Price /bbl Condensate 94.50 Duvernay 700 Butane 55.80 250 Propane 27.90 Total Company Inventory Locations Ethane 8.50 600…
  25. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 25
    HARMATTAN MANNVILLE PROJECT ECONOMICS BY COMMODITY PRICE Current Strip Pricing Flat WTI Price 60/bbl 70/bbl 80/bbl 90/bbl 100/bbl 110/bbl NPV 10% (M) 100 500 920 1350 1765 2,200 IRR (%) 11 13 16 20 23 26 Payout (Yrs) 6.6 5.6…
  26. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 26
    HARMATTAN MANNVILLE DRILLING PACE VS. CASH FLOW PER SHARE 12,000 Annualized CFPS IP 6 MONTH 0.82/sh 10,000 15,000/boepd Capex 128MM (32 Wells) Typecurve Capex 96MM (24 Wells) 0.68/sh Total Play Production (boe/d) 8,000 Capex…
  27. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 27
    MANNVILLE HZ PROJECT ECONOMICS Capital to Date 80 78 MM 8,000 Mannville Project 70 7,000 67% Paid Out Cum Cash Flow (MM) Capital (MM) Well Count Full Payout in 12-18 months 60 6,000 Mannville HZ Production Rate (boe/d)…
  28. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 28
    VIKING UPPER VIKING OIL RESOURCE Industry Viking HZ Lic 450 Average Lower Viking Well 40% Gas 13 MMBbls Upper Viking Target Drilling < 20% Gas 400 Production Rate (boe/d) 350 300 250 200 Type Curve 150 Industry HZ 100…
  29. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 29
    EDSON ROCK CREEK LIQUIDS RICH DEVELOPMENT 10,000 Rock Creek Typecurve 286 mbbls Angle 1526 IP 30: 500 boe/d Oil Pool IP 4 mmcf/d EUR: 450 mboe Angle 0624 Recycle Ratio: 2.4x Rock Creek Condensate Yield: 20 bbl/mmcf Gas Rate…
  30. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 30
    DEEP BASIN DEVELOPMENT Cardium Notikewin Wilrich Bluesky Angle Land Fernie HZ Cardium since 2009 HZ Notikewin since 2009 HZ Wilrich & Falher since 2009 HZ Bluesky since 2009 Rock Creek HZ Fernie & Rock Creek…
  31. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 31
    ANGLES CURRENT HEDGES Type of Quantity Volume Period Commodity Contract Contracted Contract Price (/unit) Mcf/bbl June 1/12 Dec 31/12 Natural Gas Financial 10,000 GJ/d AECO Cdn 2.425/GJ 9,500 AECO Cdn Collar June 1/12 Dec 31/12…
  32. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 32
    FINANCIAL HIGHLIGHTS 2012 YTD 2012 Q3 2011 2010 2009 9 months Average production (boe/d) 14,950 14,222 13,163 9,243 7,528 Cash flow (000s) 61,545 19,747 95,686 49,834 40,154 Cash flow per share () diluted 0.77 0.24 1.30 1.00 0.90…
  33. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 33
    MANAGEMENT Executive Officers Directors Gregg Fischbuch P. Eng Noralee Bradley LLB CEO Partner, Osler, Hoskin & Harcourt LLP Chair of Board of Directors and on Compensation Committee Heather ChristieBurns P. Eng Gregg Fischbuch…
  34. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 34
    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.…
  35. NOVEMBER 2012 CORPORATE PRESENTATION – Angle Energy, Inc. – slide 35
    FOR MORE INFORMATION CONTACT: Heather Christie-Burns 403-263-4534 President & COO investangleenergy.com Gregg Fischbuch CEO More reach. From every angle. More growth. More value. TSX: NGL

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