Cardinal Energy Ltd. - Profile Shares Outstanding (1): TSX: CJ Basic 57,333,919 Fully Diluted 59,834,096 Annual dividend (/share): 0.84/share 2015 forecast average production (boe/d): 11,200 Q1 2015 average production 11,023 % oil and…
Cardinal Energy Ltd. Built to be a Sustainable Business Low Decline Low Debt Low Risk 3 3
Cardinal Asset Base Solid Base of Oil Production from 2 Core Areas Wainwright Approximately 5,675 boe/d production for Q1 2015 Bantry Approximately 5,350 boe/d production for Q1 2015 Both areas have extensive development…
Low Decline 1. Source cite: FirstEnergy Capital (February 2015) 5
Wainwright Dominant land position with over 55 sections of land Oil production under waterflood with less than 10% decline 98% operated, average 95% working interest Multiyear drilling inventory in excess of 40 unbooked locations…
Bantry Dominant land position with over 246 sections of land The majority of base production is currently under waterflood with less than a 12% decline 97% operated, average 94% working interest oil production Solid Glauc drilling…
Bantry Glauc Type Curve Economics Type Drilled Curve results to SAL* date* D&C (MM) 2.1 2.1 Production, IP30 (boepd) 240 350 Production IP365 (boepd) estimate 140 200 Total P&P Reserves (Mboe) * 150 185 Year 1 Oil & NGLs (%) 92% 92%…
2015 so far Expansion of play concepts, acquisitions and geological ideas outside of current land holdings in the Bantry area to expand drilling inventory. Detailed technical evaluation of newly acquired Wainwright assets further…
H2 2015 Cardinal has budgeted the drilling and completion of 3 more wells for the second half of 2015. Plans to shoot 3D seismic to evaluate land that we own as well as land that we deem prospective. Continue to identify new…
Land Update Complete integration of all 2014 acquisitions Strategic corporate acquisition, land swap and minor non-core disposition M&A activity and land sale trends 11 11
AB Plains Land Sale Statistics 450 120,000 400 100,000 350 300 80,000 AVERAGE /HA HECTARES 250 60,000 200 150 40,000 100 20,000 50 0 0 Hectares Average /Ha 12
2015 Objectives Target accretive tuck-in acquisitions to expand core areas Pursue new core area with development drilling upside Aggressive freehold royalty acquisition plan and Crown land posting strategy 13 13
2015 Q1 Results 2015 2014 % change Operational Average production (boe/d) 11,023 6,235 77% Percentage of liquids 93% 88% 6% Development capital (MM)(1) 2.7 9.9 72% Financial Cashflow from operations (MM) 21.9 19.2 14% per share…
2015 Guidance 2015e 2014 % change Operational Average production (boe/d) 11,200 7,815 43% Development capital (MM)(1) 30 36 17% Financial Cashflow from operations (MM)(2) 95 95 % per share (basic) 1.67 2.18 23% Total dividend (MM) 48…
Hedge Position Cardinal has the following crude oil hedges in place: 7,000 100.00 93.71 6,000 86.67 86.67 90.00 C WTI Average Floor Price 5,000 77.15 78.60 78.60 80.00 BBL/D Hedged 74.70 78.60 78.60 4,000 75.80…
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