LONG RUN EXPLORATION ANNUAL GENERAL MEETING MAY 21, 2014
LONG RUN PROFILE Listing TSX:LRE Shares Outstanding 149 million1 Q1 2014 Production Market Capitalization 850 million Liquidity (shares/day; YTD) 800,000 56% 44% Q1 2014 Production 25,613 BOE/d Oil + Natural NGLs Gas Oil +…
CORPORATE STRATEGY Provide long-term value to shareholders with sustainable yield plus growth model where capital expenditures and dividends are funded through funds flow from operations Provide growth through exploitation of…
ACCOMPLISHMENTS Q1 2014 Successfully transitioned to a dividend plus growth model Generated funds flow from operations of 0.56 per share, a 44% increase over the first quarter of 2013 Averaged 25,613 BOE/d, an 8% increase over…
RECENT DEVELOPMENTS Crew Acquisition expected to close May 30th Price: 225MM, after adjustments Funded through a bought-deal equity financing (120MM; 23.5MM shares; 5.10/share) and sale of LREs Lloyd heavy oil assets (12 million),…
KEY PROPERTIES Development Focused Northern Gas Peace River Area ALBERTA Deep Basin / Pine Creek Edmonton Area LRE Land Acquisition Lands 7
PEACE RIVER AREA Dominant Position in Multi-Zone Play ALBERTA Primary target is the T80 Montney resource plays T78 targeting light oil Normandville Currently producing 11,000 T76 BOE/d (60%+ oil & NGL) Girouxville…
EDMONTON CORE AREA Viking Play at Redwater & Cherhill ALBERTA Primary targets are Viking T62 oil (Redwater) and Banff T60 oil (Cherhill) Redwater T58 Current production 7,500 T56 BOE/d (75% oil & NGL) T54 Anticipate…
DEEP BASIN / PINE CREEK Cardium Play Acquisition expected to close May 30, 2014 ALBERTA Cardium liquids-rich natural Elmworth T67 gas and oil development Deep Basin Wapiti Kakwa T63 April9th, 2014 production of…
BOYER Natural Gas Torque ALBERT A T110 Shallow decline gas (8%/year) 70 MMcf/d of additional T108 operated processing capacity available T106 Boyer Significant unbooked drilling T104 inventory T102 T100 R3…
BUSINESS PLAN Provide shareholders with sustainable yield plus growth Provide growth through development of tight oil and liquids rich natural gas, strategic acquisitions, enhanced oil recovery and additional high-graded projects…
CORPORATE INFORMATION TSX:LRE Contacts Bill Andrew Chair & CEO (403) 261-6012 Dale Miller President (403) 261-6012 Corine Bushfield Vice President, Finance & CFO (403) 261-6012 Jason Fleury Vice President, Business Development…
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