Barclays CEO Energy-Power Conference September 12, 2013
Corporate Overview
A Unique Opportunity in Alberta A growth strategy built on material thermal oil sands and light oil developments Assets Extensive positions in Albertas prolific thermal oil sands and light oil resource plays Located in a stable…
Pillars of Growth, Complementary Assets Light Oil Light Oil barrels of oil Q2 2013 7,250 equivalent per day production (boe/d) million (MM) acres CANADA Land base 2.8 (net) Proved plus Thermal Oil USA 22.0 MMboe probable…
Potential for Sustained Growth Production Potential 200 Available funding, including put proceeds, facilitates organic growth Light Oil has the flexibility to pace Thermal Oil JV 150 development Short-term cash Long-term…
Financial Overview TSX : ATH ( millions Cdn, unless otherwise stated) Market Capitalization(1) 2,600 2013 Capital Budget ( millions) Shares Outstanding 400.6 million 29 Fully diluted 419.8 million Officer & Director Holdings 8.2…
Athabasca TAGD Facility Thermal Oil
A Pillar of Growth Opportunities Potential to 350,000 bbl/d using proven SAGD technology Project Delivery Sub-surface and project delivery processes calibrated against industry best practices Industry professionals with proven…
Opportunities Drive Growth Hangingstone Project 1 12,000 bbl/d Hangingstone Project 2 40,000 bbl/d Dover West Sands Project 1 12,000 bbl/d Dover West Sands Project 2 40,000 bbl/d Dover West Carbonate Pilot 2,000 bbl/d…
Phased Development, Close to Infrastructure Hangingstone Regional Development Map Development 117 MMbbl reserves 912 MMbbl contingent resource(1) Fort McMurray Asset planned to be developed in three phases: Project 1 - 12,000…
Efficient Delivery of First Thermal Project 563 MM Cost Performance Incurred Committed On Budget Hangingstone Project 1(1) 168 MM 201 MM Following best-in-class, field construction to start after 80% engineering & procurement…
Dover West Sands, Poised for Development Development 87 MMbbl reserves 2,930 MMbbl contingent resource(1) Dover West Asset to be developed in multiple projects Road to a capacity 275,000 bbl/d Processing plants planned to be a…
Dover West Carbonate: The Next Big Resource Play Dover West Opportunity TAGD Facility Dover West 16,800 MMbbl of bitumen in place(1) in the Leduc Road carbonate reef ( 100 m net pay) 3,000 MMbbl contingent resource best estimate…
Kaybob West, Light Oil Light Oil
A Pillar of Growth AOC 2.8 million acres Quality Assets North Muskwa Caribou Liquids-rich plays Resource play size Cretaceous Multi-zone potential Operations Excellence South Muskwa Strong technical team Nimble execution…
Opportunities Drive Growth Duvernay Exploration Appraisal Development Montney Appraisal Development Slave Point Exploration Appraisal 2011 2012 2013 2014 2015 Prospective High-graded High-graded Prospective Acres (net)…
AOC in the Heart of the Duvernay Fairway Duvernay Kaybob Land Positions Athabasca Encana/PetroChina Husky Shell Talisman 08-18-64-17W5 Chevron ConocoPhillips Trilogy Cenovus Exxon 20m Isopach excluding carbonate…
Focused on Liquids-Rich Gas Pressure (1000 psi) 0 5 10 15 Duvernay Maturity Map(1) 0 AOC Industry 5 Depth (1000ft) Oil Window 08-18 Liquids Rich Gas V 10 02-34 V 06-10 V 8-18 Under-pressured Over-pressured…
Initial Duvernay Results are Very Encouraging 02/2-34-062-20W5 Production Target Well Parameters 3,000 35 (Condensate Gas Window) Production (boe/d) Tubing Pressure Well cost: 10 - 15 MM (D&C) 30 2,500 IP30: 600 1,000 boe/d EUR:…
Montney Appraisal, Leading to Development Appraisal Identifies 500 High-Graded Locations(1) Early Learnings 3 distinctly different areas Kaybob West 150 Locations Artificial lift is required timing and method varies…
Strategic Ownership of Infrastructure Total AOC Battery Capacity Oil Capacity 36,000 bbl/d 48 mmcf/d, Kaybob East Gas Capacity expandable to 130 mmcf/d Kaybob West Keyera Saxon Simonette(1) AOC 63 km Pipeline…
Next Steps North Muskwa Caribou Quality Assets Operational Excellence Profitable Growth South Muskwa Whats Next Red Earth 2013/14 Duvernay delineation program Focused Montney development Further Caribou appraisal drilling…
Kaybob West Battery Creating Value
An Alberta Opportunity World scale assets in Light Oil and Thermal Oil Industry leading teams to develop the assets Near-term production and significant long-term growth Proven track record of establishing partnerships which…
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