POSITIONED FOR LONG TERM SUSTAINABILITY TSX: SGY APRIL, 2015
RECENT DEVELOPMENTS Disposition Represents Accretive Metrics for Surge Shareholders Southeast Saskatchewan and Manitoba Disposition Metrics: Purchase price of 430 million (closing June 15th, 2015) 8.8x annualized cashflow (based on…
REASONS TO OWN SURGE 100% Operated, high quality, low decline asset base High quality light/medium crude oil asset base; low…
ELITE ASSETS FOCUSED IN THREE CORE AREAS Large OOIP pools located in established oil charged trends Surge Production: Total: 14,250 boe/d (77% Oil & NGLs) Western Alberta Production: Total: 6,700 boe/d (66% Oil & NGLs) SE…
CORE AREA DETAILS 1.7 Billion bbls OOIP with potential to recover an additional 190 Million bbls net to Surge OOIP (MMbbls) Drilling Locations Avg. CTD(1) Oil Total Booked Independent (1) Internally Estimated Ultimate Core Area…
TOP TIER CAPITAL EFFICIENCIES AND REPLACEMENT METRICS Large opportunity base allows for selective and efficient capital allocation (1) Areas/Formations Rates of Return % Capital Drill/ Complete/ Mboe/well Core Area 180 day IP…
QUALITY WATERFLOOD PROJECTS Increasing reserves / flattening declines through waterflood implementation Current Properties Under Full Commercial Waterflood Area Formation Start Date 2014 Decline Current RF Booked RF Expected RF…
SOUTHWEST SASKATCHEWAN - SHAUNAVON 450MM barrels of Net OOIP in the Upper and Lower Shaunavon combined 450 MMbbls of Net OOIP in the Lower and Upper Shaunavon formations (medium gravity oil) Current recovery factor 1.0% Rates of…
UPPER SHAUNAVON Large contiguous undeveloped land position in the Upper Shaunavon trend R21W3 R19W3 Area/Pool Well Count Depth OOIP Cum Oil Peak Rate Current Rate T10 Instow Vt Hz (m) (MMbbl) (MMbbl) (bbl/d) (bbl/d) Leitchville…
UPPER SHAUNAVON ACTIVITY 250MMbbl OOIP on Surge lands in the Upper Shaunavon R20W3 R19W3 R18W3 CPG U. Shvn Hz T7 191/13-20-006-19W3 On Prd Mar 2011 IP(90) = 109 BOPD Cum(YTD) = 24.5 mbbl Upper Shaunavon A Sand SGY Q4 14…
UPPER SHAUNAVON PERFORMANCE Surge results in the Upper Shaunavon exceeding expectations Upper Shaunavon - SGY Results vs Type Curve 250 SGY Wells Normalized Rate (bopd) - 10 wells Production Rate (bopd), Cumulative Oil Production…
WESTERN ALBERTA 195MMbbls Net OOIP in Oil rich Doig and Doe Creek Formations Valhalla Doig 130 MMbbls of Net combined OOIP at Valhalla and Doe Creek Wembley (40 degree API light oil) Oil Pool Rates of return of 62% (1) Current…
SOUTHEAST ALBERTA Provost / Eyehill / Wainwright Areas Oil saturated Cretaceous Sands Wainwright 400 MMbbls of Net OOIP (23-31 degree API oil) Current recovery factor of 15% Eyehill Sparky waterflood started in Q4 2014 and…
RISK MANAGEMENT / HEDGING STRATEGY Oil Hedges The Company has an orderly, on-going, 89.00 risk management / hedging program 7,500 designed to lock in future cash flows to protect the Companys capex program 84.00 and fund…
2014 YEAR END RESERVES 1.4 Billion of Total Proved plus Probable Reserves Value (NPVBT10) 2014 Year End Reserves Proforma SE Sask/MB Disposition Oil& NGLs Gas Total Reserve Category NPVBT10 (MM) (1) (Mbbl) (MMcf) (Mboe) Proved…
POSITIONED FOR LONG TERM SUSTAINABILITY Low base…
HIGH QUALITY CRUDE OIL ASSET BASE Focused, high quality, crude oil asset and opportunity base; core properties are 100% operated with working interests of 90% Elite, large OOIP crude oil reservoirs with low recovery factors; 15…
ANALYST COVERAGE Financial Institution Analyst Email Address BMO Capital Markets Jim Byrne jim.byrnebmo.com Canaccord Genuity Anthony Petrucci apetruccicanaccordgenuity.com CIBC World Markets Inc. Jeremy Kaliel jeremy.kalielcibc.ca…
CORPORATE PARTNERS Advisors National Bank of Canada Bank of Nova Scotia Canadian Imperial Bank of Commerce Bankers: Toronto-Dominion Bank Bank of Montreal ATB Financial HSBC Bank Canada Auditor: KPMG LLP Legal Counsel: McCarthy…
ENDNOTES Slide 5: (1) December 31, 2014 reserves. Slide 6: (1) Assumes CAD/USD exchange rate of 0.83 for 2015 and Sproule December 31, 2014 price forecast for 2016 and after. (2) Assumes 10% capital savings due to reduction in service…
NON-GAAP MEASURES NON-GAAP MEASURES This presentation includes non-GAAP measures as further described herein. These non-GAAP measures do not have a standardized meaning prescribed by International Financial Reporting Standards (IFRS…
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