Strategic Combination with NAL Energy Corporation March 23, 2012
Transaction Overview Strategic combination of Pengrowth and NAL announced on March 23, 2012 based on an exchange ratio of 0.86 of a share of Pengrowth for each share of NAL 9.7% premium based on March 22 closing prices and 11.0%…
Combined Entity Pro forma enterprise value of over C6.6 billion1 Former NAL shareholders will own approximately 26% Approximately 100,000 boe/d of production and 434 MMboe2 of P+P reserves 12 year reserve life index Maintain…
Benefits of the Combination Establishes a well-positioned, balanced intermediate oil and gas company with sustainable cash flow and meaningful future upside Expanded asset base of high quality conventional and unconventional…
Benefits of the Combination Financially attractive for Pengrowth and NAL shareholders Accretive to Pengrowth shareholders on an FFO and production per share basis NAL shareholders receive 20.4% increase in dividends per share, an…
Leadership Combined entity will continue to be led by current Pengrowth leadership Derek Evans, President & CEO Chris Webster, Chief Financial Officer Marlon McDougall, Chief Operating Officer Senior managements knowledge of and…
Balanced Asset Portfolio Significant asset base with high quality conventional and unconventional opportunities Near-term oil and liquids-rich gas development opportunities Mid to long-term SAGD development to support oil…
Pro Forma Corporate Profile The following table depicts the pro forma combined guidance for 2012 which assumes a May 31, 2012 closing for the Arrangement Pengrowth Pro Forma Combined Production (boe/d) 74,500 to 76,500 86,000 to…
Pro Forma Capital Guidance The pro forma 2012 capital expenditure program will be adjusted to reflect the current commodity price environment to maintain prudent debt levels and to ensure the sustainability of Pengrowths business…
Corporate Strategy Consistent Corporate Strategy Focus on developing operated oil and liquids-rich gas resource plays in the Western Canadian Sedimentary Basin Focus on large accumulations of oil and gas Utilize new unconventional…
Summary Creates a well-positioned, balanced intermediate oil and gas company with sustainable cash flow and meaningful future upside Greater exposure to leading western Canadian light oil plays Larger entity better positioned to…
Pengrowth Energy Corporation Stock Exchange Pengrowth Energy Corporation Toronto: PGF New York: PGH 2100, 222 3rd Avenue SW Investor Relations Calgary, Alberta, Canada T2P 0B4 Toll-free: 1.888.744.1111 Telephone: 403.233.0224 Email:…
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