Market Profile TSX:PMT Common shares outstanding 148.1 million Management ownership 25.3% Share price (5 day weighted average) 1.20 Market capitalization 178 million Total Net Debt 352 million Net bank debt 42 million…
Perpetual Energy TSX:PMT Conventional Shallow Gas Distributing Trust DIVERSIFIED RESOURCE STYLE GROWTH ORIENTED ENTREPRENEURIAL EXPLORER, PRODUCER & MARKETER 3 BUILT TO GROW BUILT TO PROSPER BUILT TO LAST
Operating Profile Conventional Shallow Gas Mannville Heavy Oil Eastern Alberta Bitumen Panny, Marten Hills, Liege Warwick Gas Storage Viking/Colorado Shallow Shale Gas Edson Wilrich Deep Basin Multi-Zone Liquids-Rich Gas…
Diversified Portfolio Built to Prosper SHALLOW LIQUIDS- HEAVY OIL BITUMEN OTHER GAS RICH GAS Maximize Invest For Invest For Advance and Advance and Cash Flow Growth Growth Optimize For Optimize For Value Value Eastern Alberta…
Portfolio Management Strategy PROVEN MEDIUM AND CASH FLOW DIVERSIFYING LONG TERM GENERATORS GROWTH STRATEGIES VALUE STRATEGIES Maximize Cash Flow Invest For Growth Optimize and Advance Conventional Shallow Gas Eastern Alberta…
Asset Base Transformation 100% 4,500 25% 90% 4,000 Resource-style oil & liquids 80% growth assets now 40% of 3,500 20% production Percentage of total production (%) 70% Oil and NGL Production (bbl/d) 3,000…
Cash Flow Diversification Production Revenue from Oil and NGL 30 60% 2013 Forecast Revenue (1) 25 50% 20 40% Oil Revenue (MM) 15 30% NGL Hedging 10 20% Gas Gas Storage 5 10% 0 0% Q110 Q210 Q310 Q410…
2013 Top 5 Strategic Priorities 1. Maximize Value of Mannville Heavy Oil 2. Position for Growth of Edson Liquids-Rich Gas 3. Advance and Broaden Portfolio of High Impact Opportunities with Risk-Managed Investment 4. Manage Downside…
Maximize Value of Mannville Heavy Oil
Eastern Alberta - Conventional Heavy Oil Discovered 12 Mannville pools Mannville 6 Lloyd, 5 Sparky, 1 Basal Quartz 200 MMbbl Original Oil in Place 10 MMbbl 5% recovery factor Current Production 3,775 bbl/d(1) Low cost HZ…
Heavy Oil Production Mannville Heavy Oil Production 4,500 2012 Capital Wedge 4,000 2013 Capital Wedge 3,775 bbl/d(1) Base Budget 3,500 Daily Oil Production (bbl/d) 3,000 2,500 2,000 1,500 1,000 500 0 Jan…
Upper Mannville A Pool - Lloyd Channel OOIP = 33 MMbbls Wells Performing At or Cumulative to date 530 Mbbl year end 2012 ( 1.6% recovery) Booked Reserves (year end 2012) 1.13 MMbbl (5% RF) 3 wells drilled in Q1 2013, 1 planned for Q3…
Mannville Heavy Oil Value Potential Projected Economics per Assumptions Drilling Location (from McDaniel) Capital (D,C & T) 1.1 MM 92.50/bbl WTI; 26.90/bbl differential 2013 Pricing = 65.60 Hardisty heavy price NPV 10 % 1.05 MM…
Upper Mannville I2I Sparky - Enhanced Recovery OOIP = 31 MMbbl (initial EOR area only); Total Pool: 46 MMbbl Cumulative to date 352 Mbbl 02/8-4 Recovery Factor to…
Enhanced Oil Recovery Scope Pool (4) OOIP (1) Cumulative P+P Implied Expected Potential with production Reserves Recovery Primary Secondary to 12/31/12 booked at Factor Recovery Recovery and EOR 12/31/12 (5-8%) (10-15%) (MMbbl)…
Position for Growth of Edson Liquids-Rich Gas
Edson Wilrich Liquids-Rich Gas Pipeline To Edson Pipeline to Alliance Deep Cut Plant to be constructed 36 bbl/MMcf NGL Q2/Q3 2013 16-10 Compressor Capacity 30 MMcf/d 1-34 Compressor Q1 Expanded to 30 MMcf/d Edson Q2/Q3…
West Edson Production Ansell Net Raw Gas Production 20,000 Compression capacity increased from 10 to 30 MMcf/d gross in late Q1 (50% WI) 15,000 Gas Rate (mcf/d) 10,000 5,000 0 Dec-11 Feb-12 Apr-12 Jun-12 Aug-12…
Wilrich Value Potential - West Edson Projected Economics per Drilling Location Assumptions (McDaniel) Capital (D,C & T) 6.3 MM gross 2013 Pricing 3.18 / GJ; 57 /bbl NGLs Operating Costs 4.75 / BOE (first year) NPV 10 % 4.93 MM BT…
Wilrich Value Potential - Edson Projected Economics per Drilling Location Assumptions (McDaniel) Capital (D,C & T) 4.9 MM 2013 Pricing 3.18 / GJ; 61.00 /bbl NGLs Operating Costs 5.50/ boe (first year) NPV 10 % 1.95 MM Well Depth…
2013 Full Year Capital Spending Plan Total Capital: 75 - 85 million Q1 2013 Remainder 2013 Total 2013 Wells Capital Wells Capital Wells Capital Mannville 27 gross Up to 13 Up to Up to 40 Up to 27 MM Heavy Oil (25.7 net) (12.3…
Optimize and Advance Medium to Long Term Opportunities Elmworth Montney - SOLD Viking/Colorado Shallow Shale Gas Bitumen
Elmworth Montney 92 Gross Sections of Montney Exposure 50/50 Joint Venture with Tourmaline Reserves and Contingent Resource Close to 4 Tcf OGIP (internal estimate) 1 Tcf gross OGIP in Montney B recorded by McDaniel 42 Bcfe net P+P…
Viking / Colorado Shallow Shale Gas Total Resource in Place 130 Tcf Belly River Play Fairway Cardium/ Colorado Wells Perpetual Lands Viking Viking Proved Undeveloped Booked Reserves Viking Probable Undeveloped 61 Bcf P+P primarily…
Colorado Group Technical Advancement Colorado Group Free Gas in Place OGIP estimated to average 16 Bcf/section Proven recovery from Cardium equivalent zone through horizontal development Potential in up to 6 zones within 290m…
Bitumen 527 net sections (329,000 net acres) of oil sand leases Various formation targets and ultimate recovery methods 7 potential project areas with varying potential 3 Billion bbls OBIP independently recognized at Liege and…
Bitumen Marten Hill Clearwater Project Area Oil Sands Leases Reconfiguration Well 100/08-30-075-25W4/00 OOIP 10m pay = 310 MMbbl Contingent Resource = 11.5 MMbbl Reconfigure 3-30-75-25 W4M horizontal well Evaluating…
Bitumen Panny Bluesky 8m Bitumen Established low rate flow without solvent or thermal assistance 10m Bitumen Average pay thickness 11 m Low viscosity bitumen 15,000 cp 25oC Highly mobile at 70oC Panny Bluesky Resource…
LEAD Process Technology Pilot Low pressure Electro-thermally Assisted Drive Pilot Costs 18.2 million IETP funding (30%) 5.5 million Production Injection Facilities Producing Power Facilities Wellhead source 13-34 TOB1 TOB2…
Bitumen Liege Carbonates R 22 R 21 R 20 R19 W4 Grosmont Net Bitumen 3 Grosmont carbonate / Leduc OV wells 10 - 20 m drilled to evaluate resource T95 Stacking of 3 Grosmont units 30 m pay 20 - 30 m Leduc reef facies also present and…
Manage Downside Risk
Dispositions 23 Transactions Closed in 2012 Net Proceeds: 167.2 MM Production: 2,945 Boe/d Gas: 13.2 MMcf/d Oil and NGL: 745 bbl/d P+P Reserves: 10.0 MMBoe Reduction in FDC: 24.6 MM Warwick Gas Storage: 90% 1 year option to…
Warwick Gas Storage 40 Bcf Storage Reservoir Commercial Park and Loan business 10 Bcf base reserves cushion gas in place 5 -11 Bcf additional operating cushion 30 to 50 year life Up to 25 Bcf potential working gas capacity 1.2 to…
Warwick Joint Venture and Option Sale of 90% partnership interest in Warwick Gas Storage in April 2012 Exercisedoption to buy back an additional 20% interest on April 25, 2013 (Perpetual will hold 30% WI at closing on May 24, 2013)…
Balance Sheet Current Net Bank Debt: 40 - 45 million Borrowing base on credit facility 125 million Reducing to 110 million July 2013 Next semi-annual redetermination October 2013 Senior Unsecured Notes: 150 million Coupon rate -…
Debt Reduction Debt Reduction While Executing Asset Base Repositioning Strategy 37
Commodity Price Risk Management Strategy Enhance or protect funds flow and balance sheet Enhance or protect the economics of an acquisition Enhance or protect capital program economics Capitalize on perceived market anomalies 9.00…
Commodity Price Risk Management Strategy Term Volumes Fixed or Ceiling Futures % of 2013E Type of Contract Floor Price price Price (/GJ) Gas or (GJ/day) (/GJ) (/GJ) Oil & NGL (bbl/d) (/bbl) (/bbl) (/bbl)(1) Production(2) AECO…
Prepare to Maximize Value from Shallow Gas Assets in Gas Price Recovery
Conventional Shallow Gas East Central and Northeast Alberta Cretaceous and Devonian sweet shallow gas Belly River Current production: 70 MMcf/d Base declines < 20% Viking Multiple stacked zones and play types Extensive plant and…
Investment Thesis
Strong Annual Growth Forecast 2013 Flat year over year E&D capital spending at 75 million Oil and NGL production growth of 10 to 15% Resource-style deep basin gas production growth of 20% Funds flow and funds flow per share growth…
Sum of the Parts 1,250.00 Unrisked NAV 6.89 /Share(2) 8.00 Warwick Gas Storage 1,000.00 Viking/Colorado Shallow Shale Gas 6.00 Conventional Shallow Gas 750.00 Risked NAV Wilrich 4.14 /Share(2) Bitumen 4.00 Mannville Heavy…
PMT Investment Thesis Asset base repositioning for resource-style oil and NGL diversification successful Mannville heavy oil delivering results with material secondary recovery growth potential Edson Wilrich liquids-rich gas…
FOR ADDITIONAL INFORMATION: Susan L. Riddell Rose President & CEO Cameron R. Sebastian Vice President, Finance & CFO 3200, 605 5 Avenue SW Calgary, Alberta CANADA T2P 3H5 800.811.5522 TOLL FREE 403.269.4400 PHONE…
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