BNE (TSX): CURRENT SNAPSHOT Shares issued: 18.7 million Market capitalization: 617 million Directors/employees own 26 percent Return 60-75 percent of funds flow* to shareholders Current monthly dividend: 0.21/share Current…
SHAREHOLDER VALUE Combined Share Price Cumulative Dist./Div. 60.00 52.18 50.00 40.00 32.99 30.00 20.00 19.19 10.00 0.00 1998 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 May-10 * Based on May 25, 2010 closing price of…
FINANCIAL & OPERATIONAL RESULTS HIGHLIGHTS (000s except per unit amounts) Q1 2010 Year 2009 Year 2008 Year 2007 Funds flow 21,326 66,504 70,448 53,815 Per share / unit basic 1.14 3.69 4.13 3.18 Net earnings 12,040 68,563 55,426 30,350…
TRACK RECORD OF GROWTH Production (boe per day) 7,000 6,000 6,000 - 5,700 5,000 4,994 4,000 4,346 4,218 4,042 3,655 3,000 3,194 3,179 3,118 2,000 1,766 1,000 0 2001 2002 2003 2004 2005 2006 2007…
TRACK RECORD OF GROWTH Reserves (P+P) (mboe) 2001 2002 2003 2004 2005 2006 2007 2008 2009 8
INCREASING SHAREHOLDER VALUE Production per Share Reserves per Share (boe per share) (boe per share*) 0.097 1.99 1.83 0.092 1.57 1.62 0.091 1.46 0.087 0.081 2005 2006 2007 2008 2009 2005 2006 2007 2008 2009 *based on…
ACHIEVING TECHNICAL SUCCESS Finding and Development Cost Summary per BOE* 17.3 8.7 6.7 2.1 1.7 1.8 1.7 1.5 16.23 11.01 8.46 7.00 6.82 6.62 2.15 2.02 2007 2008 2009 3-Year Average F&D costs / boe F&D costs / boe Recycle…
PEMBINA CARDIUM 11
PEMBINA CARDIUM 12
PEMBINA CARDIUM HZ WELL ACTIVITY Horizontal Well Update: Cumulative Current Oil Oil Production bbls per day Location W.I. % Production Date to 04/30/10 (bbls) (at 04/30/10) 1-25-47-3 w5 68.18 February 2, 2009 49,080 61 16-19-47-2 w5…
PEMBINA CARDIUM HZ AVE. DAILY OIL PRODUCTION 350 300 Producing Day Oil Rate (bbls/day) 250 200 150 100 50 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Months on Production AVERAGE 25-Jan 16-25 16-19 16-13…
AREA OF INITIAL DEVELOPMENT 15
AREA OF DEVELOPMENT 16
PEMBINA CARDIUM HZ WELL RESERVES Mbbl / Well MBoe / Well (Typical 100% Gross) Proved P+P Proved P+P Halo Area with Successful Hz Producers 145 250 158 272 Halo Edge with Hz Production 66 125 72 136 Halo Area with Limited Hz Production…
LARGE OPPORTUNITY SET Net undrilled locations: Inventory of new locations currently identified (subject to commodity prices and the terms of the Alberta royalty plan): Horizontal Cardium 80-100 (on Halo lands) Vertical Cardium 330*…
LARGE CARDIUM EXPOSURE Bonterra is the third largest operator in the Pembina Cardium Approximately 160 gross (117 net) Cardium sections including 27.5 gross (23.9 net) in the Halo 89.2% of Proved plus Probable Reserves in…
THE BONTERRA ADVANTAGE Bonterra has drill locations in all three western provinces and can quickly adjust its drilling program Will focus majority of the 50 million 2010 capital budget on Pembina Cardium horizontal program Tax…
901, 1015 4th Street SW Calgary, AB T2R 1J4 Telephone: (403) 262-5307 Fax: (403) 265-7488 Website: www.bonterraenergy.com 21