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SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd.

Kelt Exploration Ltd. · Sep 10, 2013 · 20 slides

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Slides

  1. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 1
    Corporate Presentation September 2013 0 David J. Wilson, President & Chief Executive Officer Sadiq H. Lalani, Vice President, Finance & Chief Financial Officer
  2. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 2
    Why Invest in Kelt 2 For investors who want to be exposed to a high growth oil and gas exploration and development business plan - TRACK RECORD: the Kelt management team has a strong track record of building shareholder value, most…
  3. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 3
    Common Share Information 3 Stock Exchange listing TSX Trading symbol KEL Market capitalization ( Sep/3/13 ) 760 million Mar/1/13 Sep/3/13 trading range 5.30 - 8.57 Common shares issued 97.6 million Restricted share units 1.5…
  4. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 4
    Capital Expenditure Program 4 ( millions ) Pre-Feb/26/13 2013 Budget Total Drilling & Completions 13.7 82.3 96.0 Facilities, Equipment & 3.4 14.6 18.0 Pipeline Land & Seismic 6.2 11.8 18.0 Acquisitions - 15.0 15.0 Total Capital…
  5. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 5
    Drilling Program 5 Gross Net D&C % Wells Wells ( MM ) Inga/Fireweed 12 4.8 35.1 37% Karr 8 6.7 37.3 38% Grande Cache 3 2.5 16.1 17% Other Exploratory 1 1.0 7.5 8% Total 24 15.0 96.0 100%
  6. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 6
    Production Outlook 6 2013 2013 ( Feb/27 2013 Exit % Dec/31 ) Average Oil ( bbls/d ) 584 493 820 17% NGLs ( bbls/d ) 293 247 355 7% Gas ( mcf/d ) 17,740 16,560 22,350 76% Combined ( BOE/d ) 4,148 3,500 4,900 100%
  7. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 7
    Commodity Prices 7 ( CA , unless otherwise specified ) 2013 WTI Oil ( USD/bbl ) US 90.00 NYMEX Gas ( USD/mmbtu ) US 4.10 AECO Gas ( CAD/GJ ) 3.55 Exchange Rate ( USD/CAD ) US 0.9804 Kelt Realized Oil/NGLs Price ( /bbl ) 69.68 Kelt…
  8. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 8
    Hedging 8 ( CA , unless otherwise specified ) Quantity Fixed Price WTI Oil Aug/1/13 to Dec/31/13 500 bbls/d 98.00 * WTI Oil Jan/1/14 to Jun/30/14 500 bbls/d 100.04 WTI Oil Jul/1/14 to Dec/31/14 500 bbls/d 100.00 * Effective…
  9. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 9
    Netbacks 9 ( / BOE ) 2013 Oil & gas revenue 33.27 Realized hedging gains 0.18 Royalties ( % of revenue ) ( 11.2% ) Production & transportation ( 9.27 ) Operating netback 20.46 G&A expense ( 0.98 ) Interest income ( expense ) 0.17…
  10. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 10
    Financial Outlook 10 2013 Oil & gas revenue, before royalties ( MM ) 42.7 Funds from operations ( MM ) 25.1 Per share diluted ( /share ) 0.33 Cash, net of working capital, at year-end ( MM) 89.5 Debt to Funds from operations…
  11. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 11
    Core Areas 11 British Columbia Alberta Inga/Fireweed: Condensate/Liquids-Rich Inga/Fireweed Natural Gas development Karr Karr: Grande Cache Light Oil exploration Edmonton Grande Cache: Natural Gas development Calgary Oil…
  12. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 12
    Land Holdings As at September 5, 2013 12 Gross Acres Net Acres Average WI Net Sections Developed 74,289 38,918 52% 60.8 Undeveloped 201,163 123,652 61% 193.2 Total 275,452 162,570 59% 254.0 Developed and Undeveloped Montney and Doig…
  13. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 13
    Reserves As at September 30, 2012 13 Oil NGLs Gas Combined ( mbbls ) ( mbbls ) ( mmcf ) ( mBOE ) Proved Developed Producing 204 184 32,757 5,848 Proved Developed Non-producing 12 9 1,136 210 Proved Undeveloped 678 329 7,773 2,303…
  14. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 14
    Grande Cache 14 Land 107,840 acres ( gross ) 61,326 acres ( net ) Operations Existing production primarily from the Cadotte and Dunvegan formations. New exploration drilling to target Falher (gas/ liquids) and Chinook (oil)…
  15. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 15
    Inga / Fireweed 15 Land 111,932 acres ( gross ) 46,204 acres ( net ) Operations Kelt expects to drill 12 gross ( 4.8 net ) wells in 2013: nine gross wells targeting the Doig formation and three gross wells targeting the…
  16. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 16
    Karr 16 Land 4-26 Vertical Drilled 24,960 acres ( gross ) 24,320 acres ( net ) Operations 16-8 HZ Tested (75%) Karr is an early stage 16-28 HZ Producing 13-35 HZ exploration prospect where Tested Kelt continues to assemble…
  17. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 17
    Future Considerations 17 - STRONG BALANCE SHEET: upon completion of the recent equity private placement, Kelt has the financial flexibility to pursue new opportunities as they arise. - NATURAL GAS PRICE RECOVERY: with rigs drilling…
  18. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 18
    Management 18 David J. Wilson, President & CEO Sadiq H. Lalani, Vice President, Finance & CFO Douglas J. Errico, Vice President, Land Alan G. Franks, Vice President, Production Douglas O. MacArthur, Vice President, Operations Patrick…
  19. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 19
    Board of Directors 19 Robert J. Dales Compensation (Chair), Nominating, Audit, Reserves William C. Guinan Chairman, Nominating (Chair), EHS Eldon A. McIntyre Reserves (Chair), Nominating, Audit, Compensation Neil G. Sinclair Audit…
  20. SEPTEMBER 2013 CORPORATE PRESENTATION – Kelt Exploration Ltd. – slide 20
    Corporate Presentation September 201322 Suite 600, 321 6th Avenue SW Calgary, Alberta, Canada T2P 3H3

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