OUR ASSET BASE Business Units Q1 Production Drilling Inventory (boepd) (locations) Bakken 13,811 1,050 Q1 2015 Production: Cardium 17,661 460 35,179 boepd; 76% liquids weighted AB / BC 3,707 295 Total 35,179 1,865 3
BUSINESS UNIT RESERVES BU Proved + Probable Reserves Mix (161 MMboe) 2014 Year-end Valuation (millions) 13 MMboe 2P Reserves (NPV 10%) 3,150 79 MMboe Total Debt (1,647) Hedges 67 69 MMboe Decommissioning Liability (198)…
2015 CORPORATE STRATEGY Retain long-term value and preserve financial flexibility in current low commodity price environment Operational Plan Suspension of monthly dividend Capital program of 100 - 120 million, funded by internally…
2015 CAPITAL & DRILLING PROGRAM Our 2015 capital & drilling program is 110 million1 with a suspended second half operated drilling program given low commodity prices and current capital costs 2015 Planned Capital Activity Net Wells…
GUIDANCE Our 2015 guidance reflects the current low commodity price environment; we do not intend to invest in an operated, new well drilling program in the second half of 2015 2015 Guidance Q1 Actual Average Production (boe/d) 30,500…
HEDGING EFFECTS In Q1 2015 we realized gains of 28 million on crude oil contracts, resulting in a netback of 29.83/boe Q1 Operating Netback Plus Commodity Hedges 40 35 30 25 /boe 20 15 10 5 0 WCP VET LTS BTE PGF ERF…
DEBT AND LIQUIDITY Our secured debt credit facility is in advanced stages of renegotiations to manage covenants and provide ongoing financial flexibility 510 million of available DEBT CAPITAL COMPOSITION liquidity Term Secured…
DEBT POSITION We have decreased our overall debt positon since 2012, with continuous access to sufficient liquidity Total Debt Outstanding 1,500 1,200 Amount ('000,000) 900 600 300 0 2010 2011 2012 2013 2014…
CAPITAL & FUNDS FLOW We expect to generate funds flow well above our capital spending in 2015 800 200% 600 150% Amount ('000,000) 400 100% 100% 200 50% 0 0% 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 2011 2012 2013 2014…
CASH COSTS In this low commodity price environment, we continue to generate positive funds flow from operations Quarterly Cash Costs and Oil Prices 120 110 100 90 80 70 /boe 60 50 40 30 20 10 0 Q1 Q2 Q3…
BAKKEN ASSETS Focus on EOR expansion in 2015 Our assets produce light oil from the Bakken and the conventional Mississippian formations with a relatively low decline rate. In 2015 we are continuing to focus on expanding our natural gas…
CARDIUM ASSETS Generating positive operating cash flow Our extensive land base stretches from southwest of LTS Land Calgary to northwest of Edmonton and our assets LTS Batteries primarily produce light oil from the Cardium formation.…
AB / BC ASSETS The Swan Hills is our next growth target Production has grown to 2,500 boepd New 3,500 bopd battery operational in Q2 2014 Future Operations Reserve bookings confirm long-term prospectivity Drilling is not expected to…
VALUATION Our inherent asset value provides upside to our share value 5 Billion 4 Billion 3 Billion 2 Billion 1 Billion 0 2011 2012 2013 2014 Total Debt Equity Market Value 2P NPV 10% 16
LONG-TERM OPPORTUNITY We are an upstream energy company focused on light oil development in western Canada EXTENSIVE PORTFOLIO SUSTAINABLE PRESERVE LONG TERM OF ASSETS BUSINESS MODEL VALUE Drilling inventory of 10+ Flexible 2015…
THANK YOU EIGHTH AVENUE PLACE 2800, 525 - 8TH AVENUE SW CALGARY, ALBERTA T2P 1G1 (403) 268-7800 WWW.LIGHTSTREAMRESOURCES.COM
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