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September 2015 Corporate Presentation – Blackpearl Resources, Inc.

Blackpearl Resources, Inc. · Sep 21, 2015 · 21 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 1
    SEPTEMBER 2015 PRESENTATION
  2. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 2
    Introduction Overview Shares Outstanding (MM) (1): Our focus is heavy oil Basic 335.6 Fully Diluted 363.4 Exposure to long life low decline reserves Current Share Price (/share): 0.84 Significant management ownership Market…
  3. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 3
    Properties 3 Core Areas All in heavy oil and oil sands regions Using primary (CHOPS), tertiary Peace River Athabasca Blackrod (SAGD) (polymer) and thermal recovery methods Cold Lake Potential to increase production 10x…
  4. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 4
    Reserves / Contingent Resources 2015 Evaluations (1) 2P Reserves (1) Breakdown December 31, 2014 Volume BT PV10% Volume BT PV10% (MMboe) ( million) Onion Lake Thermal Onion Lake Blackrod 2P Reserves 297 2,674 Other Thermal…
  5. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 5
    Development Stages of BlackPearl Base Thermal EOR Oil sands Time frame 2009 Present 2015 2018 2018 - Potential 8,000 - 10,000 bbl/d 12,000+ bbl/d 80,000+ bbl/d Areas Onion Lake, Mooney, Onion Lake Blackrod John Lake Characteristics…
  6. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 6
    Overview - Base
  7. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 7
    Onion Lake - Conventional Development Overview Location located in Saskatchewan, 30 miles north of Athabasca Peace River Lloydminster Well-delineated - over 300 wells drilled to date Cold Lake Production producing 3,500 bbl/d,…
  8. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 8
    Mooney Alkali Surfactant Polymer (ASP) Flood Overview Field Calendar Day Production ASP Flood - key to unlocking upside value has been the implementation of an ASP flood Phase 1 initiated in Q3 2011 49 wells - 25 injectors; 24…
  9. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 9
    Mooney Expansion of ASP Flood Current Activity Mooney Detailed Area Map Phase 2 and 3 lands are currently producing 1,000 boe/d on primary Phase 3 Phase 2 production Phase 1 Phase 2 Expansion Plans Phase 2 Drilled two wells in…
  10. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 10
    Overview - Thermal EOR
  11. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 11
    Onion Lake Thermal EOR Development Overview Regional analogue map Smaller-scale thermal projects in Saskatchewan are some of the most economic projects in industry. Our BlackPearl Onion Lake property has similar characteristics to…
  12. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 12
    Onion Lake Thermal EOR Development (contd) Development Plan Phase One Thermal Development at Onion Lake Phase 1 is complete Modified SAGD process 35 vertical injectors, 13 horizontal producers 6,000 b/d design Oil poduction…
  13. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 13
    Phase 1 of our Onion Lake Thermal EOR Project 14
  14. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 14
    Overview - Oil Sands
  15. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 15
    Blackrod SAGD Oil Sands Project Overview Blackrod Area Map Location located in the Athabasca oil sands Formation - Lower Grand Rapids, at a depth of approximately 300 metres 10 to 28 metres of continuous net pay Predictability -…
  16. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 16
    Blackrod Successful SAGD Pilot First Pilot Well Pair Blackrod SAGD Pilot 2nd Well Pair Produced 250,000 barrels of oil to date 600 6 Reached production rates of 400 bbl/day, with an iSOR of 3 500 5 Confirmed the SAGD process works…
  17. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 17
    Blackrod Commercial Development Overview Phased Development at Blackrod 80,000 bbl/d commercial development application filed in Q2 2012 1 mile Application approval expected in 2015 Project to be built in phases, with the first…
  18. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 18
    2015 Guidance 2015 Estimates(1) 2015 Capital Spending Blackrod 2014 2015E(1) Other 8% 4% Onion Lake Average Production (boe/d) 9,287 8,000 9,000 Primary 4% Capital expenditures (MM) 235 70 75 Mooney 4% Funds Flow from 89 40…
  19. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 19
    Managing Heavy Oil Pricing Hedging contracts we have in place: Q3 2015 Q4 2015 2016 WCS Prices (Cdn ) (1) Swaps 100.00 Volume (bbls/d) 4,000 4,000 -- % Hedged (3) 50% 50% -- 80.00 CDN Oil Price 64.92/bbl 64.92/bbl -- WCS…
  20. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 20
    Operating Metrics Corporate Onion Lake 40 Average (1) Q2 2015 Thermal (2) Operating/Transportation Cost 35 (/bbl) Royalties 19% 14% 10% 30 23% savings 25 Operating Expenses 25 20 15 (/bbl) 20 15 Transportation 2 1 2 10…
  21. September 2015 Corporate Presentation – Blackpearl Resources, Inc. – slide 21
    Key Milestones Next 12 to 18 Months 2P Reserves (mmbbl) Achieving peak oil production from phase 1 of the Onion Lake thermal development 300 250 Potential sanctioning of phase 2 of the 200 Onion Lake thermal development 150 100…

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