solutions results We produce energy Corporate Presentation August 2010 TSX : PBN
Corporate Profile Premier light oil producer Applying technology to large resource plays Drilled more than 600 horizontal wells with multi-stage fracs to date 188.3 million shares outstanding 7.2 million options and incentive shares…
Operational Highlights Q2 2010 production 42,263 boepd (82% light oil) Light oil weighting expected to be 85% by year end Drilled 110 (86.9 net) wells in first half of 2010 62 (56.8 net) wells are Bakken bilaterals Over 1.0 million…
Q2 Operating Results Operations Q2 2010 Q1 2010 Q4 2009 Average daily production Oil & NGL bbls/d 34,852 37,654 38,796 Natural Gas mcf/d 44,469 32,662 40,951 Total Company bo epd 42,263 43,098 45,621 Realized Prices Oil and NGL…
PBN versus Intermediate Peers Strength in Our Results +85% TSX : PBN 6
PetroBakken Land Base Focused Strategy with Concentrated Assets Q2 Production Mix Strong multi-year growth 18% Gas profile 82% Oil & Over 1.0 million net acres Liquids of undeveloped land Over 2,300 low risk Q2 Reserves Mix*…
2010 Drilling Forecast Accessing Our Resources First Half Second Half 2010 2010 2010 Gross(Net) Gross(Net) Gross(Net) SE Sask Bakken 14 (8.5) 7 (5.5 ) 7 (3.0) Exploration SE Sask Bakken 170 (140) 78 (61.6)* 92 (78.4) Development SE…
Southeast Saskatchewan Mississippian and Bakken Light Oil PetroBakken has extensive conventional and unconventional SASKATCHEWAN MANITOBA opportunities in southeast Saskatchewan 6 miles TSX : PBN 9
Conventional Opportunities Mississippian Production of Light Sweet Crude Oil Large inventory of Mississippian light oil drilling opportunities Wells cost approximately 1 million drilled and completed with average reserves of 75 mboe…
Focused Bakken Activity Extensive Infrastructure and Operated Production We are well positioned for growth in the Bakken with a large land position and an extensive network of operated infrastructure Over 210,000 net undeveloped acres…
Applying Technology Leaders in Innovation Upgrades Bakken 3.0 More fracture stimulations per section improves production performance and recoveries Bilateral horizontal wells provide a capital efficient method for increasing frac…
Bakken 3.0 in Perspective Achieving Superior Performance Average results from first 78 bilateral horizontal wells and 121 offsetting single lateral wells 300 Bilaterals (Day 1 - 240) 250 Single Laterals (Day 1 - 240) Single…
Bakken 3.0 Exceeds Expectations PetroBakkens long bilateral horizontal wells significantly outperform Sproules reserve evaluation at December 31, 2009 Bilateral decline flattens after 200 days on production and well work-over program…
Light Oil Growth Opportunities The Cardium Play in Alberta Comparison of Zones Innes West Pembina Bakken Type Log Bakken Cardium Cardium Type Log Net Pay 5 8 (m) Porosity 10 10 (%)…
Cardium Expansion PetroBakkens Strategic Entry into the Cardium A significant position in the Cardium trend has been established through recent Pembina EDMONTON acquisitions and land sales, concentrated in the West Pembina area,…
Cardium Land Holdings Cardium Players Net Sections Comparison 530 Source: Macquarie Securities (as at July 2010) plus Company data for PetroBakken acreage TSX : PBN 17
Alberta Royalty Changes New Oil Well Royalties Benefit Cardium Assets Fiscal changes announced in 2010 reduce royalties 5% royalty holiday on the first 50,000 boe is now permanent Maximum royalty rate reduced from 50% to 40% (oil rate…
Geological Environment Schematic Cross Section This schematic cross section illustrates the rich geological environment in Pembina at multiple depths The Cardium sand identified uses a 6% porosity cutoff, however the effective oil column…
Cardium Expectations PetroBakkens Approach PetroBakken plans 1,200 metre-long horizontal wells with 15 + stage fracs Booked reserves for 1-25-47-3-W5: 145 mbbls Proved, and 250 mbbls Proved + Probable Production Results For…
Cardium Activity Current Status of PetroBakkens 2010 Projects Implementing Technology Adjusting drilling and completion methods to optimize performance and reduce overall well costs Positive Results - Early days Positive impact to…
Natural Gas Opportunities Leveraging Our Strengths: Execution & Technology Large land position in two gas rich regions of Northeast B.C. Horn River well to be completed in Q3 2010 One Monias well to be drilled and completed in Q4 2010…
PetroBakken Summary Focused Growth with Dividend Yield Industry leading multistage fracture stimulation experience Application of technology to large resource plays Repeatable organic growth combined with an attractive dividend yield Q2…
solutions results We produce energy www.petrobakken.com TSX: PBN Fifth Avenue Place, East Tower, 800, 425 1st Street SW Calgary, Alberta T2P 3L8 Phone (403) 268-7800 Fax (403) 218-6075 TSX : PBN 24
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