1stt Energy Capital 2011 East Coast Energy Conference March 10, 2011
Forward Looking Statement In addition, information and statements in this Presentation relating to reserves and resources are deemed to be forward-looking information and statements, as they involve the implied assessment, based on…
Summary 8.8 billion barrels of contingent resource (best estimate) + 114 million barrels of 2P Large In-situ All oil sands developments to involve in-situ methods (no mining) Oil Sands Position One of the largest g in-situ resource…
Track Record of Delivering as Promised Oil Sands In Situ Resources (1) Unprecedented resource growth 18 Proven up approximately 12 16 billion barrels of in-situ contingent resources (best 14 estimate)(1) since 2006 12 Delivered a…
Alberta Oil & Liquids-rich Gas Opportunities AOSC recently acquired 1.0 million acres of P&NG rights in Alberta Deep Basin Several promising geological targets: Duvernay, Montney, Doig, Nordegg and Wilrich Large g amount of existing…
Alberta Deep Basin WILRICH Edmonton Calgary CANADA NORDEGG Alberta DOIG MONTNEY AOSC has accumulated 1.0 million acres in successful land sales and acquisitions. Duvernay: 475,000 acres Montney: 675,000 acres 0…
Oil & Liquids-rich Gas Strategic Rationale Business model complements existing oil sands portfolio Fast track to production Low up-front p capex p and q quick economic returns May use products as diluents for near-term bitumen…
Ultimate Development Potential of Oil Sands Grosmont (AOSC 50%): 10 km 20 km 30 km T102 Long term asset with more than 25 bln 10total PIIP 20 (gross). Birch (100% AOSC): AOSC Miles Miles Potential Birchfor 88,000 88 000 bbls/d.…
Stratigraphy AOSCs oil sands assets span several geological formations C Clastics (S (Sandstone)) Wabiskaw and McMurray formations produce virtually all in-situ bitumen today Carbonates Leduc / Cooking Lake Grosmont 10
High Quality Assets Comparable Reservoir Characteristics Project Operator Pay Thickness Porosity (%) Bitumen Cumulative Sustained Peak Rate (m) Saturation (%) Steam Oil per Well (bbls/d) Ratio MacKay AOSC 19-24 34 80 2.8 (1) 1,000…
Production Leduc (1) MacKay Phase 1: 35,000 bbls/d Dover MacKay Phase 2: 40,000 bbls/d West Dover Phase 1: 50,000 bbls/d Hangingstone AOSC 40% share 1. Leduc modeled as SAGD (faster production ramp-up). Could be…
MacKay and Dover Joint Ventures Closed February, 2010 T.97 Put/call options of up to 2.0 billion for the remaining 40% working interest 1 T 96 T.96 Dover Fundamental decisions require unanimous approval T.95 MacKay T.94 150,000…
Hangingstone Asset Summary Phase 2/3 Phase 1 & 2 63 To Surmont 881 AOSC Phase 3 CPF C Hangingstone Pump Station Phase 3 Excelsior Assets location close to existing infrastructure 0.6 0 6 bl bln b…
Birch Asset Summary 10 20 km Birch km T103 10 Miles 1.1 bln barrels contingent resources (best (b t estimate) ti t ) T102 Commercial production potential of 88,000 bbls/d Exploration/ T101 Promising Delineation Promising g 2011…
Dover West T.95 Unique asset area with very high resource density Sandstone reservoirs of McMurray and Wabiskaw 2.0 bln bbls T.94 contingent resources best estimate (5 (5.0 0 bln bbls PIIP ((1))) eters thick T.93 Up to 30…
Leduc TAGD Winter Test Heater- Heater Obs. Well Obs. Well Obs. Well Obs. Well Objectives: Producer 1 2 3 4 Drill horizontal wells in a fractured, vuggy carbonate Heat reservoir by thermal conduction via electric heaters Scope 1…
Typical SAGD Project Value Sensitivity 35,000 bbl/d SAGD Project, SOR = 3.0, With First Production in 2014 Parameter Down- Base Upside side After-Tax NPV per Barrel at 9% (1)(2) Unit Value (NPV9%/bbl) ( / ) 1.50 2.00 2.50 3.00 3.50…
People 250 AOSC (includes Consultants) Strong employee value proposition Secondees S d to t PetroChina P t Chi JV Excellent and diverse experience 200 Recruiting the very best from the best in class operators All employees…
Environmental Footprint is similar to conventional oil production Water re-cycling is 90% Total emissions in line with most other crude Comparison of Greenhouse Gas Emissions (1,2) (g CO2e/MJ gasoline) Oil Common U.S.…
Emissions In Real Life Context 23
Conclusions High leverage to oil prices with very large resource base and long life assets Multiple large assets create opportunities for further business development to accelerate pilots and production Recently acquired 1 million…
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