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CORPORATE PRESENTATION – Calvalley Petroleum Inc.

Calvalley Petroleum Inc. · Mar 31, 2013 · 25 slides

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Slides

  1. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 1
    CORPORATE PRESENTATION March 2013
  2. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 2
    Highlights Gross production capability approx. 5,700 bpd (2,850 bpd net) Crude oil price realizations close to Brent prices Low historical cost structure provides strong netbacks and earnings Low risk development potential…
  3. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 3
    Market Information Listing and Symbol: TSX Toronto CVI.a Total Shares outstanding: 79.3 mm* Management & Directors: 25% 2012 Avg. daily trading volume: 109,000 Trading Range 2012: Cdn 1.26 Cdn 2.64 * After issuer bid March,…
  4. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 4
    Performance Metrics 2012 Avg. WI Production (net) 2,434 bopd 2012 Exit WI Production (net) 2,900 bopd 2012 WI Reserves (net)* MMbbl ATPV10(US MM) Proved producing 4.8 68 Total proved 12.4 157 Proved plus probable 22.0 258 * per…
  5. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 5
    Capital Efficiency Netback (3 yr avg.) US41 per bbl (2012 netback - US45 per bbl) Finding Costs 3 yr avg. Before future capital US10.90 per bbl After future capital US12.36 per bbl Recycle Ratio 3 4 times March, 2013 7
  6. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 6
    Block 9 (Yemen) BLOCK 10 March, 2013 8
  7. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 7
    Attractive Fiscal Terms Royalty 10% Yemen Interest 70% 43.525% Profit Oil 45% 15% 30% 85% 100% Contractor Cost Oil Interest 45% 56.475% March, 2013 9
  8. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 8
    2012 Producing Reserves by Field Proved developed producing (PDP) Gross PDP Reserves (9.7mmbbl) Hiswah 60% Ras Nowmah 24% Hiswah - Al Roidhat 16% 1,523 Ras Nowmah 2,335 5,829 Al Roidhat PDP PV10 (AT) US 137 million Per…
  9. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 9
    2012 2P Reserves by Field Proved plus probable reserves (2P) Gross 2P Technical Reserves Hiswah 60% (55mmbbl) Ras Nowmah 16% Hiswah 353 Al Roidhat 24% 13,018 Ras Nowmah 8,863 32,993 Al Roidhat 2P PV10 (AT) US 517 million…
  10. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 10
    Hiswah Reserves Hiswah Proved plus probable (per independent reserve report - gross) Proved (1P) Proved plus Probable (2P) plus possible (3P) Original Oil in Place (MMb) 228.4 229.4 233.1 Estimated Recoverable Reserves 22.8 43.5…
  11. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 11
    Ras Nowmah Reserves Ras Nowmah Proved plus probable (per independent reserve report - gross) Proved (1P) Proved plus Probable (2P) plus possible (3P) Original Oil in Place (MMb) 21.8 21.8 25.0 Estimated Recoverable Reserves 6.0…
  12. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 12
    Al Roidhat Reserves Al Roidhat Proved plus probable (per independent reserve report - gross) Proved (1P) Proved plus Probable (2P) plus possible (3P) Original Oil in Place (MMb) 59 59 59 Estimated Recoverable Reserves 8.8 13.3…
  13. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 13
    Growing cash flow capability Proved developed producing reserves(net)* MMbbl 6 5 4 3 5.5 4.8 2 3.8 3.1 3.1 1 0 2008 2009 2010 2011 2012 * per independent reserve report March, 2013 15
  14. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 14
    Brent Oil Price Trend (US) Calvalley realizes close to Brent prices 120 100 80 60 Dated Brent Price Calvalley Realized Price 40 20 0 2009 2010 2011 2012 March, 2013 16
  15. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 15
    Net Asset Value US per share (after impact of February 2013 Issuer Bid) Current share price reflects a significant discount to NAV10 (2P) 4.50 4.00 3.50 3.00 2.50 3.25 Reserves 2.00 1.98 Working Capital 1.50 0.86 1.00…
  16. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 16
    Operations YEMEN BLOCK 9 March, 2013 18
  17. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 17
    Discoveries and Prospects Yemen Block 9 Commercial Discoveries: Hiswah (producing) Al Roidhat (producing) Ras Nowmah (producing) Auqban (put on production in 2013) Technical Discoveries: Malik (Multi zone) Al Hedba (requires…
  18. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 18
    Significant Seismic Coverage Current Seismic Coverage: Qarn Qaymah Field 3,700 km of 2D seismic data Auqban Field Good coverage in the wadi Hiswah Field Limited coverage over the plateau 63 km2 of 3D seismic data Hiswah Field…
  19. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 19
    Infrastructure Facilities and Transportation - Yemen Central Processing Facility: Complete and fully operational (capacity of 15,000 bbl/d expandable to 60,000 bbl/d) 55,000 bbl crude oil storage capacity Transportation and…
  20. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 20
    Low Risk Development Upside Hiswah Field (36 API oil) 33 producing wells drilled: 25 wells producing Pressure Maintenance Program: Water Injection: current injection 6,000 bwpd; to increase to 20,000+ bwpd Gas Injection: currently…
  21. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 21
    Block 9 - Top 10 Prospects Short term exploration upside more than doubles 2P reserves Risked MMBbls (P50) Surface Secondary Expected Prospect/Lead Primary Target(s) COS (%) Location Zone(s) Timing Ras Nowmah South 5.53 Ras Nowmah…
  22. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 22
    Barriers to Growth - Yemen Service company availability Logistics and planning Equipment availability Approvals March, 2013 24
  23. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 23
    2013 Plans Resolve current barriers to growth in Yemen Initiate exploration drilling program Develop infrastructure to handle increased production Identify diversification opportunities March, 2013 25
  24. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 24
    Summary High netback crude oil Organic growth potential Strong balance sheet Secondary recovery upside Multi year drilling inventory Low risk development Opportunistic acquisitions Exploration opportunities March, 2013 26
  25. CORPORATE PRESENTATION – Calvalley Petroleum Inc. – slide 25
    Contact Information Calvalley Petroleum Inc. 700 600-6th Avenue SW Calgary AB. T2P 0S5 T: (403) 297-0490 F : (403) 297-0499 Website: www.calvalleypetroleum.com For more information please contact: Edmund Shimoon, Chairman &…

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