TSX.V : CWV Production Growth With Exploration Upside In Argentina CORPORATE PRESENTATION JULY 2014
Why Argentina Developed petroleum industry Underexplored and underexploited resources Net importer of oil and gas Neuqun Basin (Cerro de Los Government encouraging new Leones) development and exploration TGS San Martin…
Our Argentine Asset Base Austral Basin (Tierra del Fuego) 25.78% working interest Core producing asset (Q1 2014 1,430 boepd) 126,000 net acres (500,000 gross) 20 drilling locations with 3-D seismic Neuqun Basin (Cerro de Los…
Our Growth Platform Tierra del Fuego Conventional generate repeatable growth from our core Cerro de Los Leones Neuqun Basin Conventional upside high impact exploration (Cerro de Los Leones) Consolidation/acquisition Maintain…
Tierra del Fuego Target 5,000 boepd 1,430 net boepd (Q1 2014) Rio Cullen 8 development wells and 2 exploration wells in 2014 JV owns extensive and expandable infrastructure Angostura San Sebastian Drilling activity ramping…
Tierra del Fuego Los Flamencos/San Luis field Ongoing 10 well program 20 drilling locations in inventory 4 re-entry fracs planned Los Flamencos Gas Pool Successful wells yield 2.5 - 5 bcf of gas with IP90 rates of 2 to 5 mmcf/d…
Building Production Los Flamencos Field No sand 8 development wells + 4 re-entry fracs 9
Puesto Quince Exploration Well Well is targeting a large undrilled fault block adjacent to producing wells Prospective area is 50 km2 in size Analogous to Los Flamencos and Los Patos pools Las Violetas Spud Q3 2014 Puesto…
La Marina Compression Plant Turbo Compressor La Marina Compression Plant Control Panel House Capable of 105 mmcf/d to San Martin pipeline Owned by JV (CWV 25.78%) 11
Tierra del Fuego Operational Milestones Build Reserves and Cash Flow Concession extension approved (valid through 2026) Drilling commenced May 2014 Las Violetas 10 well program (Phase 1) approved 8 development, 2 exploration…
High Impact Exploration Targeting Conventional and Non-conventional 13
Cerro de Los Leones (100%WI) North Neuqun Basin High impact exploration Prospective for both conventional and unconventional resources Proven productive region with excellent access Unconventional shale resource Cerro de Los…
Cerro de Los Leones Potential Vaca Muerta Oil Well (La Hoyada x-1) 15
Cerro de Los Leones Vaca Muerta Potential Vega del Sol YPF 1990 discovery single well tested 350 bbl/d of oil from fractured intrusive* Las Cavaos Fractured intrusive producing field has produced Puesto Rojas 18 mmbbls of oil*…
Cerro de Los Leones Vaca Muerta Non-conventional Resource Potential 90,000 acres modeled as potentially being in the oil generation window Llancanelo crude sourced from Vaca Muerta shale Supports Vaca Muerta oil shale thermal…
Cerro de Los Leones Operational Milestones High impact exploration Completion and testing of La Hoyada Possible development drilling Puesto Rojas Eastern Area seismic program Llancanelo Possible Eastern Area drilling program…
Crown Point Timelines Indicative Operational Timelines* 2014 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Drilling Tierra del Fuego Seismic Seismic Drilling La Hoyada x-1 exploration well Completion and testing Cerro de Los Leones of La…
Capitalization Share price(1) 0.37 Shares outstanding (million) 104.5 Market cap(1) Cdn 38.7 million Working capital(2) Cdn 11.0 million Enterprise value(1) (2) Cdn 31 million Debt (Argentine Peso denominated) (2) US 2.9…
Management and Board of Directors Management Board of Directors Murray D. McCartney President & CEO, Director Gordon Kettleson Chairman 34 years petroleum industry experience in both private and Founding Director and previous CEO of…
Investment Highlights Organic growth from existing producing assets Developing and exploring in a prolific producing region Improving commodity pricing Large drilling inventory Low drilling density = larger reserves and IP…
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