A Growth-Oriented Oil and Gas Company in the Alberta and BC Foothills June 2015
What you own An asset with a 12-16% annual decline A market cap 61% below PDP (upstream) value (0 value for midstream assets with a replacement value of 250-350 mm) Strong balance sheet (renewed 75 mm credit facility, 36% drawn)…
Strategy High growth, low decline , gas-weighted, oil upside, in conventional bypassed reservoirs Focus Alberta and BC Foothills Symbol TSX-V: IKM Basic / F.D. Shares Outstanding 80.2 mm / 91.4 mm Market Capitalization:…
Low decline, stacked reservoirs (Wilrich, Falher, Cadomin, Cadotte, Dunvegan, Cardium ), containing oil and gas Identified multiyear drilling inventory for gas and potentially large (bypassed) oil pools Team was involved previously…
Greater than 500 km of operated pipelines gives Ikkuma several options to deliver gas to multiple processing points With increasing production, trunk line volumes may be managed more effectively 250 - 350 mm replacement value of…
but, why is this particularly of value to the shareholder and why invest in a conventional play company Conventional Foothills Low decline and higher ultimate production per well Exceptional well results exist in most foothills…
Shareholder Ownership 5: a comparison of Conventional and Unconventional Reservoirs Conventional Mcfe/d Unconventional Dawson Energy Advisors, 2013…
Shareholder Ownership 6: Variability & risk in Unconventional Reservoirs Marcellus Example: a story of statistics, numerous wells, large basin-wide capital expenditure, and discovery of significant subsurface variability Operators…
Shareholder Ownership 7: Superior conventional reservoir cash flow 800,000 140,000 Unconventional Play Example (i.e. Deep Basin) Capex, NOI and Rate (M and Boe/d 700,000 90,000 Free Cash Flow Deficit (M) 40% Decline…
Recompletions of existing well bores. These wells targeted deeper structural features and shallower targets not necessarily in ideal structural positions. Despite these observations, early recompletion results yielded greater than…
Recently completed one of the most prolific unstimulated wells in western Canada in the last number of years Recompletion Capital of 550k Tested at 20 MMcf/d (3,435 boed/d) and could flow at more than 30 MMcf/d (5,167 Boe/d) at pipeline…
(5) SUMMARY OF RESERVES Oil [Mbbls] NGLs Gas Combined % of 2P (Mbbls) (MMcf) (Mboe) (2) Proved Developed Producing 60 636 85,292 14,911.00 58% (1) Proved + Probable Undeveloped 97 15 37,132 6,301.00 24% Total Proved 66 640 104,747…
Total Capital Budget (1) 28mm 2015 Average Production 7,500 8,000 boe/d (98% gas) 2015 Exit 9,000-9,300 boe/d (98% gas) Cash Flow (2) 10-12 mm Anticipated Opex 8.32/boe Anticipated Operating Netback 5.72/boe Capital program…
Ownership: Assembled core assets, purchased at below PDP value and managed by an ideally suited technical team Huge infrastructure footprint that has been given 0 value in the market Long life, low decline sustainable assets Large…
Management Banks Analyst Coverage Tim de Freitas The Toronto-Dominion Bank President & CEO Dorothy Else National Bank of Canada TD Securities Juan Jarrah Executive VP Auditor Desjardins Jamie Kubik Greg Feltham VP Exploration Clarus…
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Unconventional Play (e.g. Deep Basin) Assumptions Capital (M) 10.90 incentives (M) 2,300.00 IP (Mcf/d) 3,500 Model Inputs Condy (bbl/MMcf) 75 Expected gas (MMcf) 2,200 Di (at project termination) 40% TTL CAPEX (MM) 406.83 TTL…
Pressure relationship during flowing and after well shut in Blue is the conventional well just recompleted by IKM in the BC Foothills Red and brown lines are some of the better performing deep basin unconventional HZ wells Up and…
IP: 24-30 bbl/d Discovery vertical well (1997), 8-31-42-15w5 IP 24-30 bbls/d Produced 30 mbbls Source: Geoscout Source: Geoscout IP: 1,000 bbl/d 30 X multiple of vertical vs. horizontal Produced 200 mbbls 52 API oil…
Underexploited conventional and unconventional resource base 150 years of collective technical and operational experience underpins strong play understanding Multiple bypass pay opportunities Extensive 2D and 3D seismic coverage and…
Wells previously drilled into deep horizons provide valuable insight into the capability of the shallower zones these wells provide the bypass pay opportunities Natural fracturing not only allows for very prolific wells, but also…
Program Overview Fahler, Cadomin (9 Bcf) Foothills Deep basin 7 Bcf (Dunv) 3-30 Bcf Triassic Foothills Deep basin Deep basin reservoirs heavily exploited, and exist in foothills, but have extensive natural fractures…
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