Built for Purpose Decline focused acquisitions Low debt structure Strong capital efficiency Risk management 2 2
Cardinal Energy Ltd. - Profile Shares Outstanding (1): TSX: CJ Basic 57,333,919 Fully Diluted 59,834,096 Annual dividend (/share): 0.84/share 2015 forecast average production (boe/d): 11,200 Q1 2015 average production 11,023 % oil and…
Manage Debt 46 million net debt at March 31, 2015 220 million credit facility borrowing base Significant undrawn liquidity Corporate goal to maintain a ratio of less than 1.0 x net debt to cash flow from operations No significant…
Debt to Cash Flow Ratio(1) 1. Source cite: FirstEnergy Capital (February 2015) 5 5
Low Decline 1. Source cite: FirstEnergy Capital (February 2015) 6
Hedge Position Cardinal has the following crude oil hedges in place: 7,000 100.00 93.71 6,000 86.67 86.67 90.00 C WTI Average Floor Price 5,000 77.15 78.60 78.60 80.00 BBL/D Hedged 74.70 78.60 78.60 4,000 75.80…
Production Growth Per Share 10,821 8
Reserve Growth Per Share 14.73 10.73 10,821 1. Net present value before tax discounted at 10% (See advisory) 9
Asset Characteristics Base production decline rate approximately 10% 97% operated production 90% working interest 92% oil weighted Concentrated in 2 Core Areas Multi year drilling inventory 10 10
Cardinal Asset Base Solid Base of Oil Production from 2 Core Areas Wainwright Approximately 5,675 boe/d production for Q1 2015 Bantry Approximately 5,350 boe/d production for Q1 2015 Both areas have extensive development…
Wainwright Dominant land position with over 55 sections of land Oil production under waterflood with less than 10% decline 98% operated, average 95% working interest Multiyear drilling inventory in excess of 40 unbooked locations…
Wainwright Drilling Average well cost 1.0 mm (estimated) IP (365) < 40,000/flowing boe Reserves 83 mboe(1) F&D 12.05/boe(1) Multiyear drilling inventory in excess of 30 Waseca locations Only 2.5 net locations booked 1. Based…
Wainwright Sparky Pools Large OOIP (241 mmbbls)(1) The Wainwright B pool is a model for the Wainwright Sparky Pools Due to effective line drive water flood the recovery is 45% to date Current 2P reserve bookings forecast a recovery…
Bantry Dominant land position with over 246 sections of land The majority of base production is currently under waterflood with less than a 12% decline 97% operated, average 94% working interest oil production Solid Glauc drilling…
Bantry Glauc Type Curve Economics Type Drilled Curve results to SAL* date* D&C (MM) 2.1 2.1 Production, IP30 (boepd) 240 350 Production IP365 (boepd) estimate 140 200 Total P&P Reserves (Mboe) * 150 185 Year 1 Oil & NGLs (%) 92% 92%…
Sensitivities Oil (USD WTI) 55.00 65.00 75.00 85.00 WCS (CAD) 53.00 62.50 70.00 78.00 FX (USD/CAD) 0.8 0.82 0.84 0.86 Aeco (CAD) 2.75 2.75 2.75 2.75 Netback (/boe) after risk management 26.50 28.75 31.25 33.50 Average production target…
2015 Q1 Results 2015 2014 % change Operational Average production (boe/d) 11,023 6,235 77% Percentage of liquids 93% 88% 6% Development capital (MM)(1) 2.7 9.9 72% Financial Cashflow from operations (MM) 21.9 19.2 14% per share…
2015 Guidance 2015e 2014 % change Operational Average production (boe/d) 11,200 7,815 43% Development capital (MM)(1) 30 36 17% Financial Cashflow from operations (MM)(2) 95 95 % per share (basic) 1.67 2.18 23% Total dividend (MM) 48…
Track Record Value Creation Proven performance across commodities and throughout the cycle Positive return on all equity issued in all companies Midway Energy Ltd. 2009-2012 AB - Cardium - Beaverhill Lake 118 Million - 550 Million…
Corporate Information Corporate Headquarters: 600, 400 3rd Avenue S.W. Calgary, AB T2P 4H2 Bankers: ATB Financial CIBC World Markets Inc. RBC Dominion Securities Inc. Scotia Capital Inc. Auditors: KPMG LLP Legal: Burnet Duckworth &…
Research Coverage Target Target BMO 16.00 Macquarie Equity Research 19.00 (May 12-2015) CIBC World Markets Inc. 15.75 National Bank Financial 17.00 (May 12-2015) FirstEnergy Capital 18.50 RBC Capital Markets 18.00 (May 12-2015)…
Loading...
