6,624 boe/d 5,700 5,900 boe/d Production Q1 - 2015 Production Estimate - 2015 12.2 million 71 / 76 million Cash flow Q1 - 2015 Common shares - basic / f. diluted (0.17/share) 9% / 12% 20.48/boe Insider ownership - basic /…
Horizontal Frenchmans Elk Point Cold flow heavy oil 400 bbl/d Butte Others dominates corporate 50 bbl/d 700 boe/d 20 Inventory 65 Inventory production (0% booked) (28% booked) 98% Morgan Celtic Heavy oil 550 bbl/d 350 bbl/d…
4 Year Cash Flow 4 Year Production CAGR/DA share CAGR/DA share 57% 17% 80% Cash flow growth per DA share 2014/2013 23% Production growth per DA share 2014/2013 Cash flow metric shown is the non-GAAP cash flow from…
Gear Realized oil price (WTI WCS Diff) x Exchange 5.00 Forward strip May 6, 2015 Forward WTI prices are trading about 30% higher than the lows seen in January Forward Gear oil prices are trading more than 80% higher than…
Due to reduced oil prices, Gear adopted a conservative approach to its capital program for the first half of 2015 The improved outlook for H2 - 2015 has inspired a return to activity 2015 Budget: 28MM 20 drilling locations 8
Cash flow and net debt to cash flow Sensitivity to WTI oil prices A strong 2015 net debt to cash flow ratio is maintained within the oil prices considered Estimates are based on mid range guidance assumptions, include Q1 actuals and…
Risked Risked Estimated Production Capital Capital IP 365 Efficiency 1 Wildmere GP multi-lateral Hz. (un-lined) 1,100k 60 bbl/d 18,500/boe/d 2 Wildmere Cummings multi-lateral Hz. (un-lined) 1,450k 80 bbl/d 18,250/boe/d 5 Paradise…
8% of Gear Q1 production Production 10% Royalty (Crown) (Single leg horizontal wells) 8.00/boe Op costs Shale Channel Cummings pool 2014 Drills 2015 Plan Highlights Future Extensive Land position, approximately 10…
3% of Gear Q1 production 9% Royalty (Crown) McLaren Production 9.00/boe Op costs (Daily 2 well average) McLaren Sands 2014 Drills 2015 Plan One well temporarily shut in due to wet lease Highlights Future Large mostly…
Production (5 net Lloyd horizontal wells) 2014 Drills 2015 Plan 9% of Gear Q1 production 8% Royalty 14.00/boe Op costs Highlights Future Asset acquired in April 2014 2015 Plan: drill 12 horizontal laterals, (duals and…
Production (Cummings horizontal wells) Cummings pool 17% of Gear Q1 production 2014 Drills 25% Royalty (Crown V + Hz) 13.50/boe Op costs Highlights Future Asset acquired in 2012 2015 Plan: Monitor analogue multi-lateral…
30% of Gear Q1 production Lloyd Production 23% Royalty (Freehold) (Single leg horizontal wells) 17.50/boe Op costs Lloyd sand channel Lloyd C pool 2014 Drills 2015 Plan Shale channel Highlights Future Gear…
Polymer Injection Pilot Eight months of production outperformance to date, 4.5 times production relative to pre-flood level Water oil ratio is stable at approximately 4 times Quarter section horizontal pilot spaced at approximately 200m…
YE 2014 Reserves & Net Present Value of Future Revenues Discounted at 10% under forecasted prices and costs 312% Production replacement with 2014 P+P reserves additions 22% CAGR in P+P reserves since 2011 9% per DA share 24%…
Corporate Net Asset Value at December 31, 2014 using forecast prices (millions) 2014 2013 2012 2011 P+P NPV10 Reserves Value 314.1 274.0 193.1 165.3 Undeveloped Lands 13.4 7.5 12.1 9.8 Seismic 17.5 12.4 11.9 9.2 Income Tax Asset…
Research Analysts Altacorp Thomas Matthews Cormark Garett Ursu Desjardins Jamie Kubik FirstEnergy Bob Fitzmartyn GMP Aaron Swanson Haywood Darrell Bishop Industrial Alliance Michael Charlston Paradigm Ken Lin Peters and Co Dale Lewko RBC…
Executive Experience Ingram Gillmore VP Engineering - ARC Energy Trust, Talisman President & CEO, Director Yvan Chretien VP Land - ARC Energy Trust, CNRL VP Land David Hwang Controller - ARC Energy Trust, EnCana VP Finance & CFO…
2600, 500 4th Avenue SW Calgary, AB CANADA T2P 2V6 T (403) 538-8435 F (403) 705-2660 www.gearenergy.com
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