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Corporate Presentation – Angle Energy, Inc.

Angle Energy, Inc. · Sep 17, 2013 · 29 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. Corporate Presentation – Angle Energy, Inc. – slide 1
    Angle Energy Inc. Corporate Presentation September 2013 TSX: NGL www.angleenergy.com
  2. Corporate Presentation – Angle Energy, Inc. – slide 2
    Corporate Profile 2013 Avg. Prod. (est.) 10,500 to 10,800 boe/d (55% Oil & Liquids) Edson 2013 Cash Flow (est.) 90.0 mm 74,800 ac Net Undeveloped Land Cardium Oil 1.11/share Duvernay Edmonton Share Outstanding (Basic) 81.1 mm…
  3. Corporate Presentation – Angle Energy, Inc. – slide 3
    Angles Strategy Efficient investment of capital; high rate of return Top tier Organic growth operating costs Delivering more profitable Capture/exploit barrels, moving Protecting the light oil focused toward balance sheet…
  4. Corporate Presentation – Angle Energy, Inc. – slide 4
    Building Sustainability Establish a portfolio De-risking & delineation Reduction of future costs with Ferrier strategic investments in infrastructure Cardium Harmattan and multi-well pads Cardium/Mannville Focus on payout…
  5. Corporate Presentation – Angle Energy, Inc. – slide 5
    Organic Growth Building from within 14,000 120 Edson Prod. Prod. Edson Cash Flow Cash Flow 2012 sold 3,000 boe/day of 12,000 100 gas production and 25 10,000 million of annual cash flow 80 Replaced with 2,000 boe/day…
  6. Corporate Presentation – Angle Energy, Inc. – slide 6
    Delivering on a Strategy Oil production increased 500% and decreased gas weighting to 44% 2010 Boe/d 2011 Boe/d 2012 Boe/d 2013e Boe/d Oil Oil Oil 6% 6% 14% Oil NGLs 23% NGLs NGLs NGLs 33% 37% 36% 40% Gas Gas 57% 54% Gas…
  7. Corporate Presentation – Angle Energy, Inc. – slide 7
    Attractive Portfolio Extensive land position - 260,000 acres; no imminent expiries Control - 97% operated WI Focused asset base with multiple stacked reservoirs 200 mmbbls OOIP* in scalable, low-risk Cardium acreage potential to…
  8. Corporate Presentation – Angle Energy, Inc. – slide 8
    Net Sections (1) 1,039 (1) 1 section = 640 acres 100 150 200 250 300 350 400 0 50 Penn West 1,039 Bonavista 300 PetroBakken 265 Pengrowth 219 Angle ANGLE 209 ConocoPhillips 204 Vermilion 149 ARC 132 Whitecap…
  9. Corporate Presentation – Angle Energy, Inc. – slide 9
    Angles Cardium Resource Oil bearing reservoir throughout Cardium Oil Growth trend 2,500 Continuous marine sand, repeatable drilling results good 2,000 vertical well control defines the resource Oil Production (bbl/d) 1,500…
  10. Corporate Presentation – Angle Energy, Inc. – slide 10
    Harmattan Cardium 2013e Avg. 2,100 boe/d Liquids Weighting 89% Avg WI 95% 13e Operating Netback 49.00 13e Op. Cost(1) 6.00 - 6.25 Net Undev. Land 79 sections Estimated payout 1.5 to 3 years Lowest cost well 3.0 million (1)…
  11. Corporate Presentation – Angle Energy, Inc. – slide 11
    Ferrier Cardium 2013e Avg. 2,200 boe/d Liquids Weighting 40% Avg WI 81% 13e Operating Netback 29.00 13e Op. Cost(1) 6.50 - 7.00 Net Undev. Land 36 sections Estimated…
  12. Corporate Presentation – Angle Energy, Inc. – slide 12
    Driving Down Costs Harmattan Cardium Cost Performance Investing today to reduce costs 6,000 Targeting 25% in the future 5,369 reduction 5,000 2012 to 2013 Utilization of multi-well pads Application of technology D/C/E/T Cost…
  13. Corporate Presentation – Angle Energy, Inc. – slide 13
    Sustainable Netbacks Quarterly Operating Netback* 35.00 30.00 25.00 20.00 /boe 15.00 10.00 5.00 0.00 Q1/11 Q2/11 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Q1/13 Q2/13 Angle Realized Pricing Q1/11 Q2/11 Q3/11…
  14. Corporate Presentation – Angle Energy, Inc. – slide 14
    Technology Driving Returns Lower costs + Higher EUR + Higher IP = Greater Returns Slickwater fracs for Mannville Cum Gas Per 100 m of Stimulated Horizontal gas 20 04-34-031-02W5 Slickwater Cum Produced Gas Per 100 m of Stimulated…
  15. Corporate Presentation – Angle Energy, Inc. – slide 15
    Mannville NGL & Gas Optionality OGIP: 500 BCF* FERRIER Access to AltaGas deep cut processing; preferential priced marketable spec products Depth: 2,300 to 2,600 mTVD 6% recovery factor to date GLJ Booked Recovery…
  16. Corporate Presentation – Angle Energy, Inc. – slide 16
    Low Cost Operator 2013E Operating Costs per BOE 25.00 20.00 15.00 /boe Average 11.20 10.00 7.00 5.00 0.00 BIR FRU LEG LRE LNV TBE BXE PPY STE TOU AEF POU DEE KEL…
  17. Corporate Presentation – Angle Energy, Inc. – slide 17
    Operating Cost Advantages Operate 97% of production Investment in Harmattan infrastructure 1.50 reduction in transportation and op. costs for Cardium oil production (from 8.00 to 6.50) Decrease future well tie-in costs by 250k…
  18. Corporate Presentation – Angle Energy, Inc. – slide 18
    Optionality and Upside Improving recoveries Waterflood projects 1% increase in recoveries 2 mm bbls* potential increase in prospective resources Application of new technologies Slickwater fracing at Edson, Viking and Mannville…
  19. Corporate Presentation – Angle Energy, Inc. – slide 19
    Managing the Balance Sheet Prudent use of debt Available borrowing base 215.0 million Bank debt as at June 30, 2013 141.4 million Excess borrowing base 73.6 million Convertible Debentures 01/31/2016 Expiry 60.0 million Managing…
  20. Corporate Presentation – Angle Energy, Inc. – slide 20
    Why Angle Moving toward a sustainable asset base Low risk oil inventory Large undeveloped Cardium land holder with 75% of undrilled inventory unbooked Control and/or access to key infrastructure Successful exploiters and low-cost…
  21. Corporate Presentation – Angle Energy, Inc. – slide 21
    Angle Energy Inc. Corporate Presentation September 2013 TSX: NGL www.angleenergy.com
  22. Corporate Presentation – Angle Energy, Inc. – slide 22
    Appendix September 2013
  23. Corporate Presentation – Angle Energy, Inc. – slide 23
    2013 Guidance Full Year 2013 Angle Corporate Gross / Net Wells 37 / 31.1 Capital Expenditures 145 - 150 mm 2013 Average Production 10,500 10,800 boe/d 2013 Exit Production 10,500 11,000 boe/d 2013 Commodity Price Assumptions Gas…
  24. Corporate Presentation – Angle Energy, Inc. – slide 24
    Hedge Positions Hedged 70% of forecast 2013 gas production and 65% of forecast 2013 oil/condensate production Period Commodity Type of Contract Quantity Contracted Contract Price (/unit) Jan. 1/13 Dec. 31/13 Natural Gas Financial…
  25. Corporate Presentation – Angle Energy, Inc. – slide 25
    Current Project Inventory Unbooked Budgeted NPV10 Unbooked Area Project Locations Locations IP Cost/Well (MM) % (M) Upside (MM) Harmattan Viking Oil 65 65 360 4.3 2,100 137 Mannville NGL 30 75 550 3.5 700 21 Mannville OIL 47 50 270…
  26. Corporate Presentation – Angle Energy, Inc. – slide 26
    HARMATTAN CARDIUM P50 ECONOMICS CROWN VS. FREEHOLD 100% Crown 60% Crown/40% FH 100% Freehold Economics Economics Economics D/C/E/T Capital Cost (mm) 2.9 2.9 2.9 IP 1 Month (boe/d) 250 250 250 IP 12 Month (boe/d) 106 106 106 IP…
  27. Corporate Presentation – Angle Energy, Inc. – slide 27
    MANAGEMENT Directors Noralee Bradley LLB Edward Muchowski P. Eng Partner, Osler, Hoskin & Harcourt LLP Chair of Reserve and EH&S Committee Chair of Board of Directors and on Compensation Committee Scott Bratt CA, CFA Jacob Roorda…
  28. Corporate Presentation – Angle Energy, Inc. – slide 28
    ANALYST COVERAGE AltaCorp Capital Inc. FirstEnergy Capital Corp. Don Rawson Cody R. Kwong BMO Capital Markets GMP Securities Jim Byrne Grant Daunheimer CIBC World Markets National Bank Adam Gill Dan Payne Clarus Securities…
  29. Corporate Presentation – Angle Energy, Inc. – slide 29
    FOR MORE INFORMATION CONTACT: Heather Christie-Burns 403-263-4534 President & COO investangleenergy.com Ken Hillier 403-263-4534 CFO investangleenergy.com September 2013 30

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