Built to Last Low Debt Low Decline Strong Capital Efficiencies 2
Cardinal Energy Profile Shares Outstanding(1): TSX: CJ nergy Ltd. Basic 64,961,946 Fully Diluted 67,476,387 Annual Dividend (/share) 0.84/share 2015 forecast average production (boe/d): 11,200 Q3 2015 average production (boe/d)…
ARO Millions 200 180 160 140 120 100 80 11,000,000 60 40 20 0 09 years 1020 years 2135 years 3650 years Facilities Wells NPV 10 = 42 MM 4
Cardinal Asset Base Solid Base of Oil Production from 3 Core Areas WAINWRIGHT Appr. 5,400 boe/d production for Q3 2015 BANTRY Appr. 5,800 boe/d production for Q3 2015 SLAVE LAKE Appr. 3,300 boe/d production net to Cardinal at…
Wainwright Dominant land position with over 55 sections of land Oil production under waterflood with less than 10% decline 98% operated, average 95% working interest Multiyear drilling inventory in excess of 40 unbooked locations…
Bantry Dominant land position The majority of base production is currently under waterflood with less than a 12% decline 97% operated, average 94% working interest oil production Control key infrastructure resulting in cycle…
Bantry Drilling Efficiency Type Drilled Curve results SAL* to date* D&C (MM) 1.7 1.7 Production, IP30 (boepd) 240 350 Production IP365 (boepd) 140 210 estimate Total P&P Reserves (Mboe) * 150 200 Year 1 Oil & NGLs (%) 92% 92% NPV…
Ellerslie Waterflood Zero capital invested to-date Water redirection only Estimate 50 bopd uplift More upside with source well reactivation & proper WF geometry realignment Further opportunities exist within Bantry 9
Slave Lake New Core Area 3,300 boe/d 78% liquid production, 41 API light crude oil Large OOIP Oil production under waterflood with less than a 10% decline 10
Mitsue Transaction Summary Private Co. Operated Assets Split: 75% Cardinal, 25% Private Co. Net Purchase Price: 129,000,000 Working Interest production: 3,300 BOEPD Cash Flow multiple at 50 WTI: 5X ROFR on core private company…
Mitsue Gilwood Units Large OOIP, current estimates between 800 million and 1 billion barrels in place Opportunity to significantly expand the reserves and recovery factors Consolidation opportunities 4 initial concepts for growth…
Mitsue vs Nipisi 37,300 Area (ha) 61,500 140 Producing Wells 160 2,800 bbl/day Production 3,070 bbl/day 15% Porosity 13.2% 35% Water Saturation 36% 41 Oil API Gravity 43 385,000,000 CUM Production (bbls) 400,000,000…
Mitsue vs Nipisi Gilwood Units Nipisi Mitsue Nipisi Mitsue Nipisi Mitsue Production Production AUG AUG of Wells of Wells BOPD BOPD WCT WCT Less than 50% WCT 12 53 140 1,100 20% 10% 50% - 90% WCT 31 28 440 500 77% 81% 90% - 95% WCT…
2015 Capital Efficiency 45,000.00 40,000.00 3,300 boed Capital per boed (365 days) 35,000.00 4,825 boed 30,000.00 4,825 boed 1,525 boed 25,000.00 20,000.00 1,525 boed 15,000.00 1,525 boed (1) 1,085/boed(1)…
Corporate Information Corporate Headquarters Cardinal Energy Ltd. 600, 400 3rd Avenue S.W. Calgary, AB T2P 4H2 Bankers ATB Financial CIBC World Markets Inc. RBC Dominion Securities Inc. Scotia Capital Inc. National Bank of Canada…
Analyst Coverage Firm Analyst Phone Email BMO Nesbitt Burns 403-515-1500 CIBC Adam Gill 403-216-3405 adam.gillcibc.com Clarus Securities Inc. Robert Pare 403-767-0821 rpareclarussecurities.com Dundee Securities Chad Ellison…
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