Canaccord Genuity Global Energy Conference October 12 12, 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 9.7 billion barrels of contingent resource (best estimate) + 289 million barrels of 2P An Oil One of the largest in-situ resource holders Resource p Potential expected p , production of 800,000 bbls/d for about 40 y years…
Track Record of Delivering as Promised Oil Sands In Situ Resources (1) 18 Unprecedented resource growth 16 Proven up approximately 13 billion barrels of in-situ 14 contingent resources (best estimate)(1) since 2006 12 Delivered…
AOSC - An Oil Resource Developer Oil Sands Extra Heavy Crude Oil Deep Basin Light Oil 6
Ultimate Development Potential of Oil Sands Grosmont (AOSC 50%): 10 km 20 km 30 km T102 Current potential for 40,000 bbls/d. (net) Large 10 unexplored 20 area. Birch (100% AOSC): AOSC Miles Miles Current potential for 155,000…
Stratigraphy AOSCs oil sands assets span several geological formations Clastics (Sandstone) Wabiskaw and McMurray formations produce virtually all in-situ bitumen today Carbonates Leduc / Cooking Lake Grosmont 8
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 First Development - details next page Phase 1 & 2 Phase 3 Additional lands are contiguous with existing AOSC assets Ali Aligns with ith our overallll development d l t strategy…
Hangingstone First Development First Development (Project 1) 12,000 12 000 bbl/day CPF 5 Drainage Areas with 25 initial SAGD well pairs in high quality reservoir 750 - 850m in horizontal length at approximately 190m TVD Project…
Birch Asset Summary R20 R19 R18 R17 R16 R15 R14 R15 Birch 1.9 bln barrels contingent resources T103 (best estimate) 64% increase from 2010 T102 Current production potential of Promising 155,000 bbls/d Exploration T101 g Target…
Dover West T.95 Unique asset area with very high resource density Sandstone reservoirs of McMurray and Wabiskaw 2.0 bln bbls g contingent resources best estimate ((5.0 bln bbls PIIP (1)) T.94 eters thick T.93 Up to 30 me…
Leduc Steam Test Favourable Results High steam injection rates observed may allow for fast start- up andd potentially t ti ll wider id spacing i Steam enters reservoir uniformly along well (not just into highly fractured or vuggy…
Leduc TAGD Test - Ongoing Objectives Heater- Obs. Well Obs. Well Obs. Well Obs. Well Heater Producer Drill horizontal wells in a fractured, vuggy 1 2 3 4 carbonate Heat reservoir by thermal conduction via electric heaters Measure…
Production - Oil Sands Leduc (1) MacKay Phase 1: 35,000 bbls/d Dover MacKay Phase 2: 35,000 50,000 bbls/d West Dover Phase 1: 50,000 50 000 bbls/d Hangingstone AOSCs share (1) Leduc modeled as SAGD. May be changed…
Portfolio Production Potential 1,000 800 Birch ( Unconstrained Development Case oduction Management Estimate) 600 OSC Gross Pro (kbbls/d)) Leduc SAGD 400 DW Clastics AO 200 Hangingstone PetroChina JV 0…
Alberta Deep Basin PEACE RIVER GRP / FALHER WILRICH BULLHEAD GROUP Edmonton Calgary CANADA NORDEGG Alberta CHARLIE LK / DOIG MONTNEY AOSC has accumulated Grande Prairie 1.2 million acres in crown land sales and…
Deep Basin Oil - Current AOSC Activity Drilled & Completed 3 Nordegg 1200m Hz / 15 stage frac 550 550 boe/d IP 41 API (best well) Over 80% oil and liquids 2 Montney 1200m Hz / 15 stage frac 300 boe/d IP 37 API Over 35% oil and…
Deep Basin Light Oil Upcoming Activity Identified several thousand potential drilling locations within high-graded parts of AOSC lands Montney, Duverney and Nordegg principal targets Area of holding application Numerous other…
People 250 AOSC (includes Consultants) Strong employee value proposition Secondees to PetroChina JV Excellent and diverse experience 200 Recruiting the very best from the best in class operators All employees p y hand ppicked…
Environmental - Oil Sands 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…
Emissions In Real Life Context 25
Conclusions An oil resource developer with high leverage to oil prices with very large resource base and long life assets 9.7 billion barrels of contingent resource (best estimate) + 289 million barrels of 2P reserves in oil sands…
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