TSX: JOY Growth Plus Yield E&P sustainable growth applying new technology to legacy oil pools May 2015
Corporate Overview (May 2015) 11,000 boe/d; 54% liquids; ISO boe shut in due to economic conditions 22% corporate base decline; 12.1 year 2P RLI 85% working interest in legacy oil pools containing approximately 1 billion barrels of…
Financial Overview (May 2015) 104MM net debt on a 205MM credit facility (90MM drawn) 6% yield;2.5/share/month; cash outlay to service…
Five Reasons to Own Journey 1. We have a 2 year track record of adding value and creating a sustainable business 2. We have the inventory in pools we own and control to high grade our best economic opportunities in low commodity price…
Growing Inventory in Proportion to Net Asset Value EffectiveEFFECTIVE June 30, 2012 December 31, 2014 GLJ PriceGLJ Forecast PRICE July 1, 2012 January 1, 2015 Inception Current 2P NPV10% BT (MM) 1 215 607 2P NAV/Basic Share…
Per Share Growth 1400 1.4 1.4 350 1200 1.2 300 Production per MM Shares Reserves (BOE/Share) 1000 1.0 250 0.8 800 200 0.6 600 150 0.4 400 100 0.2 200 50 00 0 H2 2012 2013 2014 Production (boe/d) per MM…
Rates of Return at Strip Pricing1 60 3 Development Rate of Return (%) 50 2.5 40 2 Payout (Yrs) 30 1.5 20 1 10 0.5 0 0 Cherhill Gilby Herronton East Matziwin Banff Mannville Elkton Glauconite Rate of Return…
Core Areas (Along a Prolific Resource Fairway) 11,000 boe/d; 54% liquids 990 MM OOIP1 of Journey lands; 85% WI; 12% recovery factor to date Alberta Central Region (5,400 boe/d) (61% liquids) 490MM oil weighted capital projects…
Journeys Value Creation Strategy Acquired major oil pools in prolific Identify New resource fairway Opportunities Expanded our (300 Pools in prospect inventory Target to over 900MM Fairway) Drilled over 50 HZ wells to date…
Executing the Strategy (Herronton) R26 R25 R24W4 Acquired in February 2013; first well drilled in September T20 T20 2013; drilled 10 wells to date 17 land purchases/leases and 5 tuck in property acquisitions; quadrupled land position…
Executing the Strategy (Matziwin/Countess) West Matziwin East Matziwin Matziwin legacy property, expanded through acquisitions (East Matziwin, Countess), land purchases, and farm-ins 1 We have participated in 30 HZ wells on our…
2014 Finding, Development and Acquisition Costs For the Period January 1, 2014 to December 31, 20141 F&D A&D FD&A Capital Expenditures (MM) 2 88.2 172.2 260.4 Total Proved Reserves Additions (MMboe) 5.4 14.4 19.8 Cost (including…
Historical Finding, Development & Acquisition Costs For Period July 1, 2012 to December 31, 2014 2012 2H 2013 2014 Total Capital Expenditures (MM)1 32.0 71.6 260.4 364.0 Total Proved Reserves Additions (MMboe) 2.6 3.3 19.8 25.8 /boe…
More to Come Journey has identified 279 (net) horizontal oil drilling opportunities; 78% of these projects are currently unbooked Horizontal Oil Wells2 Concept Booked1 Unbooked Total Tested Region Gross Net Gross Net Gross Net…
2014 Year End Net Asset Value GLJ 2014 Year End Report GLJ 2014 Year End Report Reserve Category NPV 10% NAV1 10% NPV 10% NAV1 10% MM /Share2 MM /Share2 Price Forecast: GLJ Effective January 1, 2015 Sproule Effective January 1, 2015…
Business Plan 2012 2013 2014 2015 Operating Highlights H2 Actual Actual Actual Forecast Production Average (boe/d) 10,700 - 4,566 5,255 10,346 11,000 Oil and NGLs (%) 51% 54% 53% 54% Corporate Decline Rate (%) 26% 26% 20% 22%…
A Differentiated Business Strategy Designed to Out Perform Team Business Model Assets Experienced management Control legacy underdeveloped Control of 1000 MMbbls of oil pools along a fairway OOIP with 12% recovery factor Skilled…
Appendix- Content Hedging and Sensitivity Drilling Inventory South Region South Region Drilling Economics Central Region Central Region Drilling Economics Strong Governance Experienced Management Corporate Information 21
Appendix - Hedging and Sensitivities Hedging Oil contracts Volume Bbls/d Pricing point Strike price/Bbl Term Swap 500 WTI NYMEX CAD104.75 April 1, 2015 to June 30, 2015 Swap 1,000 WTI NYMEX CAD77.00 July 1, 2015 to June 30,…
Appendix - South Region R3 R1W5 R27 R25 R23 R21 R19 R17 R15 R13 R11W4 T29 T29 T28 T28 100% of our South inventory is T27 T27 concept tested, with at least 1 HZ well T26 T26 drilled in each pool T25 Matziwin T25 CALGARY T24 T24 T23 T23…
Appendix - South Region Drilling Economics East Matziwin Countess Herronton Metric Glauconite Glauconite Elkton Capital Cost (MM)2 2.2 2.2 3.7 Ultimate Recovery (Mboe)2 310 288 320 Oil and NGLs (%)2 43% 44% 69% IP30 (boe/d)2 300 250…
Appendix - Central Region R15 R13 R11 R9 R7 R5 R3 R1W5 R25 R23 R20W4 T62 T61 T62 T61 Over the next 12 months Journey plans T60 Windfall Manola T60 to drill HZ wells at Crystal and Gilby, in order to prove-up our remaining T59 T59…
Appendix - Central Region Drilling Economics Poplar Creek Gilby Manola Metric Crystal Viking Cherhill Banff Belly River Mannville Ellerslie Capital Cost (MM)2 2.6 2.4 2.8 2.3 2.5 Ultimate Recovery (Mboe)2 130 110 329 159 286 Oil and…
Appendix - Strong Governance Marc Drouin Director Managing Director, Natural Resources, PSP Investments Stephen Mulherin Lead Independent Director, Governance / Compensation Committee Chairman Partner, Polar Capital Company; Chairman of…
Appendix - Experienced Management Team Alex G. Verge, P.Eng., M.Eng. Director, President and Chief Executive Officer 33 years of experience: Three years as Director of Journey (three as CEO), President and CEO of NuVista Energy, VP…
Appendix Corporate Information BMO Bankers CIBC ATB Auditors PricewaterhouseCoopers LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Legal Counsel Stikeman Elliott LLP Registrar and Transfer Agent Computershare Trust…
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