Cardinal Energy Ltd. Cardinal Energy Ltd. (Cardinal or the Company) is an oil focused Canadian company built to provide investors with growth and sustainable yield. Trading Symbol: TSX: CJ Shares Outstanding: Basic: 35,290,311…
Building a Sustainable Business Build a Solid Base Operated, high working interest Current decline rate less than 15% Growth Target 510% production growth per year Strong capital efficiency in Glauc drilling play Focus on per share…
Re-Investment Drilling to sustain/grow Low risk development drilling Low capital exposure per well Deploy horizontal drilling, multi stage frac completions to locations identified by management Top quartile capital efficiencies…
Operating the Business Base 2014 Budget 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 22.0 MM Operations payout ratio Balance…
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 10 10
Chauvin All season access area in Eastern Alberta Current production of about 900 boepd 100% oil production, low decline rate of approximately 15% per year Operated, average working interest 98% 89% proved producing reserves…
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 87% proved producing reserves Horizontal drilling upside Opportunities…
Bantry 4,800 boepd (90% liquids) Southern Alberta all season access area Solid base of low decline oil production less than 15% per year Identified unbooked upside Minimal FDC in reserve value Half cycle economics for…
Bantry Over 200 net sections of land 90% operated, average 90% working interest Extensive gathering systems and processing facilities Potential recompletions, facility consolidations, water flood optimization, new flood…
New Tight Oil Play Drilling Inventory Estimated well cost 2.1mm Multiyear drilling inventory 40 primary locations, 40 secondary locations Commenced drilling1st horizontal well and licensed second well planned for Q1/14 Bantry Type…
Conservative Balance Sheet Corporate goal to always maintain a ratio of less than 0.75 x net debt to cash flow from operations Provides flexibility to acquire additional assets on an accretive basis Will use balance sheet for special…
Hedging Strategy To provide certainty in cash flow from operations and dividends Cardinal has set the following 3 year corporate hedging policy: 2014 Opportunistically Hedge up to 60% of production 2015 Opportunistically Hedge up to…
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 93% 82% 73% 66% 60% 56% 52% 1. Maintain flat…
Q1 Activity Licensed and are currently drilling two horizontal wells in Bantry. Working to execute on tuck in acquisitions in Bantry, Wainwright and Chauvin. Evaluating staffing, operations and assets in the SE Alberta Acquisition.…
Pro Forma Acquisition and IPO Dividend: 0.65/share Production: 5,800 boepd (90% oil) Decline: Less than 15% Netback: 34.00 per boe G & A (target): 2.25 to 2.75 per boe Cash Flow From 31.00 per boe Operations: Net Debt: Less than 0.1X…
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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