Corporate Presentation The Oil and Gas Conference 20 August 18, 2015 TSX: GXE
Target growth per debt adjusted share. Real Value Growth YE 2014 the 4 year CAGR /DA share was 57% cash flow & 17% production Predictable rates, multi-well pads, low sand, low Horizontal Production operating costs, low royalties 2015…
Q2 2015 Unhedged revenue increased 41% over Improving Prices Q1 2015 49.81/boe Record low 12% royalties, due to Low Royalties horizontal crown holidays and oil prices -5.96/boe Reduced 13% from 2014, Low Op Costs below 20/boe for…
5,632 boe/d Frenchmans Elk Point Q2 2015 production 350 bbl/d Butte Others 50 bbl/d 682 boe/d 20 Inventory 65 Inventory 98% (0% booked) (28% booked) Cold flow heavy oil Morgan 500 bbl/d Celtic 15 million 24 Inventory 350…
4 Year Cash Flow 4 Year Production CAGR/DA share CAGR/DA share 57% 17% 80% Cash flow growth per DA share 2014/2013 23% Production growth per DA share 2014/2013 Cash flow metric shown is the non-GAAP cash flow from…
Gear Estimated oil price (WTI WCS Diff) x Exchange 5.00 Forward strip Aug 6, 2015 After some price recovery in Q2, the forecast has weakened for the rest of 2015 and into 2016 Differentials have widened due to temporary…
Due to reduced oil prices, Gear is being conservative with the 2015 capital program Costs have dropped from 2014 by approximately 25%, helping offset the 30+% reduction in oil prices 2015 Budget Reduced from 28MM To 25MM (-11%) due…
Cash flow and net debt to cash flow Sensitivity to WTI oil prices A strong 2015 net debt to cash flow ratio is maintained within the oil prices considered Estimates are based on mid range guidance assumptions, include H1 actuals and…
Risked Risked Estimated Per well - Production Capital Capital IP 365 Efficiency 1 Paradise Hill McLaren Hz. 1,000k 60 bbl/d 17,500/boe/d 975k Actual (-3%) = 16,250/boe/d 1 Wildmere Cummings Quad-lateral Hz. (un-lined) 1,450k 80…
2.5% of Gear Q2 production 3% Royalty (Crown) 8.20/boe Op costs McLaren Sands 2014 Drill 2015 Drill 2015 Plan Highlights Future Large mostly undeveloped land base (6.5 sections) 2015 plan: drill 4 more McLaren horizontals Two…
Production (Cummings horizontal wells) Cummings pool Multi-Laterals versus single legs 300% Production rates for 6 months 225% Total production after 24 months 15.5% of Gear Q2 production 2014 Drills 20% Royalty (Crown V…
8.5% of Gear Q2 production Production 1.5% Royalty (Crown) (Single leg horizontal wells) 9.80/boe Op costs Shale Channel Cummings pool 2014 Drills 2015 Drill 2015 Plan Highlights Future Extensive Land position,…
2014 Drills 2015 Drills 2015 Plan 9% of Gear Q2 production 3% Royalty 11.50/boe Op costs Highlights Future Asset acquired in April 2014 2015 Plan: drill 8 more horizontal laterals, (includes duals and singles) Extensive Lloyd…
33% of Gear Q2 production Lloyd Production 18% Royalty (Freehold) (Single leg horizontal wells) 16.50/boe Op costs Lloyd sand channel Lloyd C pool 2014 Drills 2015 Drill Shale channel Highlights Future Gear…
YE 2014 Reserves & Net Present Value of Future Revenues Discounted at 10% under forecasted prices and costs 312% Production replacement with 2014 P+P reserves additions 22% CAGR in P+P reserves since 2011 9% per DA share 24%…
Corporate Net Asset Value at December 31, 2014 using forecast prices (millions) 2014 2013 2012 2011 P+P NPV10 Reserves Value 314.1 274.0 193.1 165.3 Undeveloped Lands 13.4 7.5 12.1 9.8 Seismic 17.5 12.4 11.9 9.2 Income Tax Asset…
Research Analysts Altacorp Thomas Matthews Cormark Garett Ursu Desjardins Jamie Kubik FirstEnergy Bob Fitzmartyn GMP Aaron Swanson Haywood Darrell Bishop Industrial Alliance Michael Charlston Paradigm Ken Lin Peters and Co Dale Lewko RBC…
Executive Experience Ingram Gillmore VP Engineering - ARC Energy Trust, Talisman President & CEO, Director Yvan Chretien VP Land - ARC Energy Trust, CNRL VP Land Bryan Dozzi Engineering Manager - Gear Energy, Rock Energy Inc. VP…
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