Cardinal Energy Ltd. Cardinal Energy Ltd. (Cardinal or the Company) is an oil focused Canadian company built to provide investors with growth and a sustainable dividend. Trading Symbol: TSX: CJ Shares Outstanding: 37,675,910(1) (as at…
Building a Sustainable Business Build a Solid Base 97 % operated production, 90 % working interest Decline rate less than 15% Growth Target 510% production growth per year Glauc horizontal drilling Accretive low decline…
Operating the Business Base 2014 Budget (1) Amount of capital required to keep Committed Capital 16.6 MM production flat year over year Cash flow from Target 30 35% simple Dividend Payments 24.4 MM Operations payout ratio…
Managing Our Production Growth Profile Balance between Growth and Decline Free Cash Flow Spending Allocation 30% 100% Drilling 20% Production growth 10% Target 100% Acquisitions 0% 10% 15% 20% 25% Production Decline…
Cardinal Assets Solid Base of Oil Production in 3 Core Areas Chauvin Wainwright Bantry 8 8
Chauvin All season access area in Eastern Alberta Current production of about 900 bbl/d 100% oil production, low decline rate of approximately 15% per year Operated, average working interest 98% 100% of Reserves are proved plus…
Wainwright All season access area in Eastern Alberta Approximately 100 boepd of 99% oil production Low decline of 8% per year Operated, 73% working interest Horizontal drilling upside Opportunities to further consolidate the…
Bantry Over 240 net sections of land 97% operated, average 94% working interest Extensive gathering systems and processing facilities Potential recompletions, facility consolidations, water flood optimization, new flood…
Glauc Drilling Estimated well cost 2.1mm IP (365) < 20,000/flowing boe Reserves 180 mboe F&D 11.66/boe Recycle ratio 3.5X Multiyear drilling inventory 40 primary locations, 40 secondary locations 1. Bantry type well as…
Glauc Drilling (1) See advisory. 13 13
Cardinal Dec. 2013 Reserves Reserve increase of 111% (P&P), per fully diluted share PDP 12,500 mboe TP 13,748 mboe P&P 21,163 mboe (86% oil) Discounted net present value (NPVBT 10%) increase of 62% per fully diluted share FDC…
Conservative Balance Sheet Corporate goal to always maintain a ratio of less than 1.0 x net debt to cash flow from operations Provides flexibility to acquire additional assets on an accretive basis Will use balance sheet as required…
Hedging Strategy To provide certainty in cash flow from operations and dividends Cardinal has set a rolling 3 year corporate hedging policy and will opportunistically hedge 60% in 2014, 40% in 2015 and 30% in 2016. Cardinal currently…
Sustainable Sensitivities Cardinals financial prudence is reflected in its robust total payout ratio 2014 Total Payout Ratio Sensitivities (1) WTI (US/bbl) 75 80 85 90 95 100 105 72% 67% 63% 63% 55% 53% 50% 1. Maintain flat…
Q1 Activity Drilled and completed two horizontal wells and spud a third horizontal well in Bantry. Completed tuck in acquisition in Bantry. Evaluating staffing, operations and assets in the SE Alberta Acquisition. Target larger…
Corporate at a Glance Dividend: 0.65/share (33% payout ratio) Decline: Less than 15% Netback: 37.00 per boe G & A (target): 2.75 to 3.00 per boe Net Debt: Currently less than 0.1X net debt to cash flow from operations 19 19
Strong Guidance M. Scott Ratushny Director and Chairman Mr. Ratushny has over 15 years of diverse oil and gas experience and has been involved in the creation, financing and growth of 9 successful private and public oil and gas…
An Experienced Team M. Scott Ratushny Chairman and Chief Executive Officer Mr. Ratushny has over 15 years of diverse oil and gas experience and has been involved in the creation, financing and growth of 9 successful private and public…
Track Record Value Creation Proven performance across commodities and throughout the cycle Positive return on all equity issued in all companies Midway Energy Ltd. 2009-2012 AB - Cardium - Beaverhill Lake 118 Million - 550 Million…
Corporate Information Corporate Headquarters: 1400, 440 2nd Avenue S.W. Calgary, AB T2P 5E9 Auditors: KPMG LLP Legal: Burnet Duckworth & Palmer LLP Reserves: Sproule Associates Limited Contacts: Scott Ratushny Email:…
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