Skip to main content MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. | Shale Experts
Loading...
Pm

MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc.

Pulse Seismic Inc. · Mar 17, 2014 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 1
    CREATING VALUE FOR INVESTORS MARCH 17, 2014 CORPORATE PRESENTATION PULSESEISMIC.COM I TSX:PSD OTCQX:PLSDF
  2. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 2
    KEY FACTS INFORMATION AS AT MARCH 14, 2014, UNLESS OTHERWISE SPECIFIED Trading Symbol TSX: PSD OTCQX: PLSDF Corporate Headquarters Calgary, Alberta, Canada Stock Price 3.34 Avg. Daily Trading Volume (3 Months) 108,058…
  3. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 3
    COMPANY OVERVIEW Pulse Seismic is Canadas leading seismic data library provider Pulse owns: 28,300 sq. km of 3D seismic; 340,000 lin. km of 2D seismic We can license our seismic data over and over again Our Revenue Sources:…
  4. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 4
    A CLOSER LOOK AT OUR BUSINESS: THE VALUE OF SEISMIC 3D SEISMIC Pulse owns 28,300 square kilometres (10,925 square miles) of high-quality 3D seismic 3D seismic generated 69% of Pulses total data library sales in 2013 (2012 87%) 3D…
  5. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 5
    A CLOSER LOOK AT OUR BUSINESS: 2D SEISMIC DATA RETAINS ITS VALUE 2D Data Library 2D Sales By Vintage By Date of Seismic Recording (2009-2013) 340,000 kms 48 Million 1960s: 8% 1970s: 25% 1960s: 1 mm 1970s: 5 mm 1980s: 47%…
  6. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 6
    A CLOSER LOOK AT OUR BUSINESS: PULSE VS. CANADIAN COMPETITORS Estimated Canadian 2D Market Estimated Canadian 3D Market (km) (km2) Seitel Canada: 650,000 Seitel Canada: 34,200 Pulse: 28,300 Pulse: 340,000 CGG Veritas: 20,100 TGS…
  7. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 7
    OUR CUSTOMERS Pulse has a customer base of 300 customers Significant concentration of customers are in the oil & natural gas industry, with the majority being located in Alberta 65% of sales during the past 5 years were generated…
  8. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 8
    DRIVERS OF DATA LIBRARY SALES M&A, JVs and Licensing of Economically New Pipelines & New Players Asset Sales Existing Data Viable Development Infrastructure 9
  9. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 9
    HOW WE GROW OUR DATA LIBRARY Pulses total seismic coverage: 3D 28,300 square km 2D 340,000 linear km There are two ways we grow our library: Data acquisition Participation surveys Pulses Key Corridor of Activity: Montney Tight…
  10. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 10
    PARTICIPATION SURVEYS 2013 GROWTH FOCUS Pulse partners with oil and gas companies to shoot participation surveys Pulse owns the seismic data and has the right to market the data; participants retain a licensed copy Focused on…
  11. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 11
    PARTICIPATION SURVEYS THE DUVERNAY RESERVOIR Land rush began in 2009 Reservoir area estimated at 100,000 sq. km Numerous majors/international companies Well costs average 13 mm Seismic is a small portion of the drilling costs…
  12. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 12
    RETURN ON NET PARTICIPATION SURVEY COSTS Total survey cost 216 million Pulse net survey cost 66 million 30 Data library sales 109 million Pulse Net Cost Return of data sales on Pulse net cost is 164% 25 Data Library Sales 20 Cdn…
  13. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 13
    RETURN ON 2004 NET SURVEY COST EXPLAINED Cumulative Annual Cash Return 30 28 million 7 surveys shot; 1,104 sq. km 1.2 13 25 3.6 12 Gross CAPEX 25 million 2.3 11 78% prefunded, survey revenue 20 2.3 10 0.8 09 19 million Pulse…
  14. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 14
    SHAREHOLDER FREE CASH FLOW (SFCF) CALCULATION (mm except per share) Year ended Dec. 31 2013 2012 Data library sales 27.1 64.0 Participation survey revenue 13.4 22.3 Less: Salaries, internal commissions & benefits (5.4) (7.9) Other…
  15. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 15
    PULSE A CASH FLOW STORY We have generated historic operating cash margins of 75%- 85% on data sales Shareholder free cash flow and Cash EBITDA are our key metrics Cash EBITDA is our proxy for EBITDA: we deduct participation…
  16. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 16
    SEISMIC DATA LIBRARY SALES & SFCF CORRELATION Seismic Data Library Sales SFCF per Share (mm) (/diluted weighted shares outstanding) 07 41.2 07 0.59 08 36.9 08 0.49 09 23.4 09 0.28 10 30.3 10 0.35 11 36.2 11 0.36 12 64.0 12…
  17. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 17
    CAPITAL ALLOCATION STRATEGY Strong balance sheet provided flexibility for our capital allocation program : Winter CAPEX program 2012/13 of 58 million - completed three 3D seismic participation surveys totaling 1,182 sq. km Share…
  18. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 18
    HISTORICAL ALLOCATION OF FUNDS DURING THE PAST 5 YEARS Funds Available Funds Allocated Cash in Common Bank Share Debt Debt 12MM Purchases Financing Repayments 22MM 47MM 59MM Used For Equity Dividend Financing Payments…
  19. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 19
    CAPITAL ALLOCATION STRATEGY 8.8 2013 8.4 4.8 5.6 19.9 2012 10.5 4.5 20 8.2 2011 2.3 1.7 15 77.5 2010 0.2 0 11.3 3.4 2009 0.5 0 6.9 0 10 20 30 40 50 60 70 80 90 Millions Net CAPEX Share repurchases Dividends Debt…
  20. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 20
    CURRENT FINANCIAL POSITION STRONG BALANCE SHEET (mm) December 31, 2013 Cash on Hand 1.7 Total long-term debt* 21.9 Undrawn portion on long-term debt facility 27.9 Net debt 20.1 *New 50 million, 3-year extendible, revolving…
  21. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 21
    SHAREHOLDER RETURNS 18 16 14 12 MILLIONS 10 8 6 4 2 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Dividends - Total 44MM Share Purchases - Total 29MM 23
  22. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 22
    REASONS TO INVEST IN PULSE High barriers to entry replacement value of our seismic data library estimated at over 2 billion Broad coverage in the WCSB with no competing 3D data Increasing international demand for Canadian natural…
  23. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 23
    OUR PEOPLE 28 Full-time employees Executive Management Team Neal Coleman, President and Chief Executive Officer Pamela Wicks, Vice President Finance and Chief Financial Officer Jeff Bectold, Vice President Operations Trevor…
  24. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 24
    APPENDICES Acquisition of Divestco Data Library in 2010 Statement of Comprehensive Income- 2013 and 2012 Statement of Cashflows- 2013 and 2012 Statement of Financial Position-2013 and 2012 Capital Structure Shareholder Base…
  25. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 25
    ACQUISITION OF DIVESTCOS ASSETS Acquired Divestco Assets in September 2010 Purchase price of 75.5 million including 55.5 million in cash plus 14.3 million Pulse common shares issued. Doubled the size of Pulses 3D data library…
  26. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 26
    STATEMENT OF COMPREHENSIVE INCOME 28
  27. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 27
    STATEMENT OF CASH FLOWS 29
  28. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 28
    STATEMENT OF FINANCIAL POSITION 30
  29. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 29
    CAPITAL STRUCTURE Authorized unlimited common and preferred shares 59,349,120 common shares outstanding (Dec 31, 2013) Shares Outstanding at Year-End 70 60 Millions of Shares Outstanding 50 40 30 20 10 0 2009 2010 2011…
  30. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 30
    SHAREHOLDER BASE Owner Name % O/S Current Position Robotti and Co./Ravenswood 14.89 8,834,842 Montrusco Bolton Investments Inc. 4.82 2,861,288 Burgundy Asset Management Ltd. 4.71 2,798,285 Invesco Advisers, Inc. 2.69 1,598,600 J.…
  31. MARCH 2014 CORPORATE PRESENTATION – Pulse Seismic Inc. – slide 31
    Pulse Seismic Inc. 2400, 639 5th Ave. S.W. Calgary, Alberta T2P 0M9 Toll-free: 1-877-460-5559 Telephone: 1-403-237-5559 Email: infopulseseismic.com www.pulseseismic.com TSX:PSD OTCQX:PLSDF 33

From the store

Browse maps, data & reports in the Shale Experts store