Core Focus Areas Low Decline and Balanced Production 3
Operations & Capital Program Dan OByrne 4
Core Focus Areas Low Decline and Balanced Production Dixonville: Corporate: Q1 2014 production: 3,093 boe/d Q1 2014 average production: 14,560 boe/d Base decline rate: 10% Oil & Liquids 89% Oil & Liquids 49% Key Play: Montney oil…
Capital efficient development sustains the model Focused on light-oil development 19 gross (18.3 net) wells Halkirk-Provost: 10 (10.0 net) 2014 Capital Southern Alberta Glauc: 5 (4.3 net) 60 Southern Alberta Pekisko: 3 (3 net)…
Southern Alberta - Light Oil Development Area Pekisko continues to perform Glauc channel and shore face upside emerging Cessford Glauc well 24 hour test rate in excess of 1,000 boe/d Expected to be tied-in late in Q2 2014…
Halkirk Provost Asset Overview Renegotiated farm-in terms 10 well program planned for the second half of 2014 Secondary recovery potential Over 500 prospective Viking locations 8
Noel Cadomin Resource Play Over 85 prospective locations High expected initial production rates Currently drilling D-80-G well Expected to be tied-in in the middle of Q3 2014 Natural Gas Optionality Significant Low Risk…
Mature, Stable Reserves Selected Reserves Information Total Proved plus Probable as at Dec. 31, 2013(1)(4) Reserves by Category Total Btax NPV (Mboe)(2) 10% (M)(3) Proved Developed Producing 38,658 556 % Liquids 61% Probable Total…
Investment Highlights Monthly Cash Dividend of Cdn 0.0225 (0.27/share/year) Target all-in payout of 100% Mature, low decline producing assets coupled with an extensive inventory of over 500 capital efficient light oil development…
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