Perpetual Energy -TSX: PMT CONVENTIONAL SHALLOW GAS DISTRIBUTING TRUST DIVERSIFIED RESOURCE - STYLE GROWTH - ORIENTED ENTREPRENEURIAL EXPLORER, PRODUCER & MARKETER BUILT TO GROW BUILT TO PROSPER BUILT TO LAST 2
Market Profile TSX:PMT Common shares outstanding 147.3 million Management ownership 25.2% Share price (5 day weighted average) 1.51 Market capitalization 225 million Convertible debentures (PMT.DB.D; PMT.DB.E) 160 million Senior…
Diversified Portfolio PROVEN MEDIUM AND CASH FLOW DIVERSIFYING LONG TERM GENERATORS GROWTH STRATEGIES VALUE STRATEGIES Maximize Cash Flow Invest For Growth Optimize and Advance Conventional Shallow Gas Eastern Alberta Heavy Oil…
Operating Profile Conventional Shallow Gas Mannville Heavy Oil Viking/Colorado Shallow Shale Gas Eastern Alberta Bitumen Panny Bluesky (Near cold flow) Bitumen Marten Hills (Near cold flow) Bitumen Liege Carbonates (Thermal)…
Asset Base Transformation Growth vs Legacy Assets Legacy Shallow Gas Production GOB Deemed Production Diversifying Growth Assets 2007 Dispositions 2008 Dispositions 2009 Dispositions 2010 Dispositions 2011 Dispositions 2012…
Cash Flow Diversification Oil and Liquids Revenue 28 60% 23 50% 18 40% MM 13 30% 8 20% 3 10% Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Q212 Q312 Q412E (3) 0% Oil and NGL Revenue Oil and NGL % of Total…
Key Priorities 2012 1. Profitable capital investment in chosen diversifying growth plays to increase oil and NGL production 2. Debt reduction 3. Downside risk management 4. Advance assessment of high impact, longer term growth…
2012 Key Priority Diversifying Growth Strategies
Eastern Alberta - Conventional Heavy Oil Geographically synergistic with shallow gas assets Mannville Production established from 12 Mannville pools 6 Lloyd, 5 Sparky, 1 Basal Quartz 200 MMbbl Original Oil in Place(1) 10 MMbbl 5%…
Eastern Daily Oil Production 3,500 Actual Daily from Field 3,000 Revised Budget 2,500 OiL bbl/d 2,000 1,500 1,000 500 0 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Sep-12 Dec-12 Performance Exceeding…
Upper Mannville A Pool Lloyd Channel R8W4 R9 OOIP = 33 MMbbls Cumulative to date 282 Mbbls ( < 1% recovery) Booked Ultimate Recoverable Reserves 735 MBBL (2% RF) 00/11-35 00/09-36 7 wells drilled in 2012 (4 to date; 3 planned…
Upper Mannville I2I Pool Regional Sparky OOIP = 29 MMbbls Cumulative to date 252 Mbbls 00/01-04 Recovery Factor to date < 1% - Expect 5-8% on Primary 2 wells drilled in 2012 (late August) 11 locations remaining to be drilled based…
Sparky New Developments SPARKY MID TYPE LOG 100/02-14-049-07W4/00 00/14-29 24 % DENSITY POROSITY 4 m OIL PAY Mid Sand 00/03-20 00/12-16 00/08-14 Regional Sparky Pool OOIP = 34.4 MMbbl 00/01-14 Cumulative to date…
Mannville Heavy Oil Value Potential Projected Economics per Assumptions Drilling Location Capital (D,C & T) 1.05 MM 90/bbl WTI; 20/bbl differential Pricing = 70 Lloydminster heavy blend NPV 10 % 1.05 MM BT 10.50/BOE (first year),…
Enhanced Oil Recovery Scope Pool Name OOIP (1) Cumulative P+P Expected Expected Recoverable production Reserves Primary with Secondary to date booked at Recovery Recovery and EOR 12/31/11 (MMbbl) (MMbbl) (MMbbl) (MMbbl) (MMbbl)…
Edson Wilrich Liquids Rich Gas To South Rosevear Plant (15% WI) Pipeline To Edson Deep Cut Plant 36 bbl/MMcf NGLs 16-10 Compressor West Edson Capacity 30 MMcf/d 1-34 Compressor Capacity 10 MMcf/d 2013 - 30 MMcf/d…
Wilrich Value Potential Projected Economics per Drilling Location Assumptions Capital (D,C & T) 4.9 MM 4/Mcf; 95/bbl WTI = 66.30/bbl NGLs Pricing (3/Mcf; 105/bbl WTI = 76.50/bbl NGLs) NPV 10 % 3.6 MM BT (2.3 MM BT) Operating Costs…
2012 Full Year Capital Budget Total Capital: 75 MM (Increased from 65 MM) H1 2012 H2 2012 Total 2012 Wells Capital Wells Capital Wells Capital 22 gross 12 gross 34 gross Mannville Heavy Oil 27.1 MM 15.7 MM 42.8 MM (22.0 net)…
2012 Key Priority Debt Reduction
Asset Divestiture Program November 2011: Announced non-core asset divestiture program targeting proceeds of 75 - 150 million for debt reduction and June debenture repayment Q4 2011 & Q1 2012: 66.8 million in non-core dispositions…
Warwick Gas Storage 40 Bcf Storage Reservoir 10 Bcf base reserves cushion gas in place Commercial Park and Loan business 5 -11 Bcf additional operating cushion Up to 25 Bcf potential working gas capacity Grass Roots Gas Storage…
Warwick Joint Venture and Option Arrangement Sale of 90% partnership interest in Warwick Gas Storage in April 2012 Option to buyback up to an additional 30% equity interest prior to April 25, 2013 30MM Option purchase price reflects…
Balance Sheet Current Net Bank Debt: 85 million Revised borrowing base on credit facility - 140 million Next semi-annual redetermination by November 30, 2012 Senior Unsecured Notes: 150 million Coupon Rate - 8.75%; Maturity date -…
Debt Reduction Birchwavy Acquisition - 130 MM Profound Acquisition - 81 MM 2012 Disposition Proceeds - 147 MM Viking/ Colorado Shale Edson Acquisition - 71 MM 75 MM Debenture Repayment Office Building Sale - 36 MM Wilrich GOB…
2012 Key Priority Manage Downside Risk
Commodity Price Risk Management Strategy Enhance or protect funds flow and balance sheet Enhance or protect the economics of an acquisition Enhance or protect capital program economics Capitalize on perceived market…
Commodity Price Risk Management Gas Q4 2012: (1) October: 99,250 GJ/day financial and forward physical 3.13/GJ (72% of forecast 2012 gas production ) Nov Dec: 25,000 GJ/day forward physical 2.59/GJ (18% of forecast 2012 gas…
2012 Key Priority Optimize and Advance Medium to Long Term Opportunities Elmworth Montney Viking/Colorado Shallow Shale Gas Bitumen
Elmworth Montney 92 Gross Sections of Montney Exposure 50/50 Joint Venture with Tourmaline Reserves and Contingent Resource Close to 4 Tcf OGIP (internal estimate) 1 Tcf gross OGIP in Montney B recorded by McDaniel 42 Bcfe net P+P…
Elmworth Montney Development Plan POD 2 Initial Development POD C B A Drilled & Flow Tested Drilled & Tested Initial Development Drilled & Tested 50 MMcf/d gross POD Gross Startup Activities per Development Pod 12 Upper…
Viking / Colorado Tight Shallow Gas Belly River Play Fairway Vast Tight Shallow Gas Resource Play Cardium/ Colorado Wells Booked Reserves (Viking Only) Perpetual Lands 98 Bcf P+P, primarily undeveloped Viking Proved Undeveloped 903…
Colorado Group Free Gas In Place OGIP estimated to average 16 Bcf/section Proven recovery from Cardium zone through horizontal development Potential in up to 6 zones within 290m shale group 2011 Advanced detailed (3G) technical…
Bitumen Lands 527 net sections (335,979 net acres) of oil sand leases Various formation targets and ultimate recovery methods 7 potential project areas with varying potential 3 Billion bbls OBIP independently recognized at Liege…
Bitumen Panny Bluesky Q1 2011 8m Bitumen Established low rate flow without 10m Bitumen solvent or thermal assistance Average pay thickness 11 m Low viscosity bitumen 15,000 cp 25C Panny Bluesky Resource Assessment (McDaniel P50)…
Bitumen Liege Carbonates R 22 R 21 R 20 R19 W4 3 Grosmont carbonate / Leduc wells drilled in GROSMONT NET BITUMEN Q1 2011 to evaluate resource 10 - 20 m T95 Stacking of 3 Grosmont units 30 m pay 20 30 m Leduc reef facies present…
2013 Top 5 Strategic Priorities 1. Manage Downside Risk 2. Maximize Value of Mannville Heavy Oil 3. Build Out Low Cost, Liquids-Rich Gas Inventory at Greater Edson 4. Advance and Broaden Portfolio of High Impact Opportunities with…
2013 Full Year Capital Budget Total Capital: 75 MM H1 2013 H2 2013 Total 2013 Wells Capital Wells Capital Wells Capital 25 gross 14 gross 39 gross Mannville Heavy Oil 33.6 MM 15.7 MM 49.3 MM (25 net) (12.3 net) (37.3 net) 3…
Investment Thesis Asset base repositioning for resource style oil and liquids-focused opportunities successful Mannville heavy oil delivering results and has material secondary recovery growth potential Edson Wilrich liquids-rich gas…
3200, 605 5 Avenue SW Calgary, Alberta CANADA T2P 3H5 800.811.5522 TOLL FREE 403.269.4400 PHONE 403.269.4444 FAX infoperpetualenergyinc.com EMAIL www.perpetualenergyinc.com WEB FOR ADDITIONAL INFORMATION: Susan L. Riddell Rose…
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