TSX: JOY Corporate Presentation applying new technology to legacy oil pools September 2015
Corporate Overview (September 2015) Q2 Production 10,600 boe/d; 53% liquids; 150 boe/d shut in due to economic conditions 22% corporate base decline; 12.1 year 2P RLI 85% working interest in legacy oil pools containing approximately…
Financial Overview (September 2015) 98MM1 net debt on a 205MM credit facility (90MM drawn) 12% yield; 6/share/quarter; cash outlay to service dividend 5.0MM/year 2 Plan to purchase up to of DRIP shares in marketplace increasing…
Capital Spending Overview (September 2015) 2015 Capital spending reduced to 53- 55 million Corporate focus on positioning for longer term growth upon recovery in commodity prices H2 drilling program (9 wells) expected to generate…
Five Reasons to Own Journey 1. We have a 2 year track record of adding value and creating a sustainable business 2. We have the inventory in pools we own and control to high grade our program to projects that generate returns greater…
Growing Inventory in Proportion to Net Asset Value EffectiveEFFECTIVE June 30, 2012 December 31, 2014 GLJ PriceGLJ Forecast PRICE July 1, 2012 January 1, 2015 Inception Current 2P NPV10% BT (MM) 1 215 607 2P NAV/Basic Share…
Per Share Growth 1400 1.4 1.4 350 1200 1.2 300 Production per MM Shares Reserves (BOE/Share) 1000 1.0 250 0.8 800 200 0.6 600 150 0.4 400 100 0.2 200 50 00 0 H2 2012 2013 2014 Production (boe/d) per MM…
Core Areas (Along a Prolific Resource Fairway) Q2 - 10,600 boe/d; 53% liquids 990 MM OOIP1 of Journey lands; 85% WI; 12% recovery factor to date Alberta Central Region (5,200 boe/d) (62% liquids) 490MM oil weighted capital…
Journeys Value Creation Strategy Acquired major oil pools in prolific Identify New resource fairway Opportunities Expanded our (300 Pools in prospect inventory Target to over 900MM Fairway) Drilled over 50 HZ wells to date…
Executing the Strategy (Matziwin/Countess/Brooks) Matziwin legacy property, expanded through acquisitions West Matziwin East Matziwin (East Matziwin, Countess, Brooks), land purchases, and farm-ins We have participated in 29 HZ…
Executing the Strategy (Herronton) Acquired in February 2013; then producing 300 boe/d; 85% gas First well drilled in September 2013; drilled 11 wells to date Current production 1,400 boe/d 17 land purchases/leases and 5 tuck in…
Executing the Strategy (Farm In) Low Decline Purchased Production 12-36 HZ Discovery 15-28 HZ Discovery 13
Executing the Strategy (Central Core Area) Cherhill Berrymoor Our Central Area has expanded through drilling and complementary acquisitions (Gilby, Crystal, Berrymoor, Keystone Cardium Unit Poplar Creek, Cherhill and Westerose)…
2014 Finding, Development and Acquisition Costs For the Period January 1, 2014 to December 31, 20141 F&D A&D FD&A Capital Expenditures (MM) 2 88.2 172.2 260.4 Total Proved Reserves Additions (MMboe) 5.4 14.4 19.8 Cost (including…
Historical Finding, Development & Acquisition Costs For Period July 1, 2012 to December 31, 2014 2012 2H 2013 2014 Total Capital Expenditures (MM)1 32.0 71.6 260.4 364.0 Total Proved Reserves Additions (MMboe) 2.6 3.3 19.8 25.8 /boe…
More to Come Journey has identified 279 (net) horizontal oil drilling opportunities; 78% of these projects are currently unbooked Horizontal Oil Well Drilling Locations2 Concept Booked1 Unbooked Total Tested Region Gross Net Gross…
2014 Year End Net Asset Value GLJ 2014 Year End Report GLJ 2014 Year End Report Reserve Category NPV 10% NAV1 10% NPV 10% NAV1 10% MM /Share2 MM /Share2 Price Forecast: GLJ Effective January 1, 2015 Sproule Effective January 1, 2015…
Business Plan 2012 2013 2014 2015 Operating Highlights H2 Actual Actual Actual Forecast Production Average (boe/d) 10,400 - 4,566 5,255 10,346 10,600 Oil and NGLs (%) 51% 54% 53% 53% Corporate Decline Rate (%) 26% 26% 20% 22%…
A Differentiated Business Strategy Designed to Out Perform Team Business Model Assets Experienced management Control legacy underdeveloped Control of 1000 MMbbls of oil pools along a fairway OOIP with 12% recovery factor Skilled…
Appendix - Hedging and Sensitivities Hedging Oil contracts Volume Bbls/d Pricing point Strike price/Bbl Term Swap 1,000 WTI NYMEX CAD77.00 July 1, 2015 to June 30, 2016 Approximate Cash Flow Sensitivities WTI 1.00 US/bbl =…
Appendix - South Region R3 R1W5 R27 R25 R23 R21 R19 R17 R15 R13 R11W4 T29 T29 T28 T28 100% of our South inventory is T27 T27 concept tested, with at least 1 HZ well T26 T26 drilled in each pool T25 Matziwin T25 CALGARY T24 T24 T23 T23…
Appendix - South Region 2016 Drilling Economics Matziwin Countess/Brooks Herronton Metric Glauconite Sunburst Elkton Capital Cost (MM)2 2.2 1.2 3.4 Ultimate Recovery (Mboe)2 250 210 320 Oil and NGLs (%)2 55% 73% 69% IP30 (boe/d)2 285…
Appendix - Central Region R15 R13 R11 R9 R7 R5 R3 R1W5 R25 R23 R20W4 T62 T62 T61 Manola T61 T60 Currently evaluating HZ wells at Crystal T60 T59 Windfall T59 and Gilby, in order to prove-up our T58 T57 Cherhill T58 T57…
Appendix - Central Region 2016 Drilling Economics Poplar Creek Gilby Manola Metric Crystal Viking Cherhill Banff Belly River Mannville Ellerslie Capital Cost (MM)2 2.4 2.2 2.6 2.0 2.8 Ultimate Recovery (Mboe)2 130 110 328 159 285 Oil…
Appendix - Experienced Management Team Alex G. Verge, P.Eng., M.Eng. Director, President and Chief Executive Officer 33 years of experience: Three years as Director of Journey (three as CEO), President and CEO of NuVista Energy, VP…
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