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April 2016 Corporate Presentation – Cardinal Energy Ltd.

Cardinal Energy Ltd. · Apr 18, 2016 · 20 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. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 1
    BUILT TO LAST April 2016
  2. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 2
    Built to Last Low Debt Low Decline Strong Capital Efficiencies 2
  3. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 3
    Cardinal Energy Profile Shares Outstanding(1) TSX: CJ nergy Ltd. Basic 65,124,209 Fully Diluted 67,595,248 Annual Dividend (/share) 0.42 2015 average production (boe/d) 11,838 2016 forecast average production (boe/d) 14,600 %…
  4. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 4
    Cardinal Asset Base Solid Base of Oil Production from 3 Core Areas (Q1 Estimates) WAINWRIGHT Appr. 5,200 boe/d production BANTRY Appr. 5,500 boe/d production SLAVE LAKE Appr. 3,600 boe/d production All areas have extensive…
  5. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 5
    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…
  6. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 6
    Bantry 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 drilling program Excellent…
  7. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 7
    Bantry Glauconitic HZ Wells (See Advisory) 7
  8. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 8
    Slave Lake New Core Area 3,600 boe/d 78% liquids production, 41 API light crude oil Large OOIP Oil production under waterflood with less than a 9% decline Significant opportunities for waterflood enhancement, recompletion, op…
  9. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 9
    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…
  10. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 10
    Reserves by Region Reserves, mboe NPV10, M PDP TP TPP PDP TP TPP South (Bantry) 8,043 9,411 13,320 148,582 161,058 209,989 North (Mitsue) 13,221 13,604 18,402 201,855 207,193 245,736 Central (Wainwright) 18,108 18,827 24,957 338,832…
  11. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 11
    Reserve Growth Per Share 3,300 boed (PV10/share fd) 4,825 boed 4,825 boed(1) 1,525 boed (1) 1,525 boed 1,085/boed(1) 1,525 boed(1) 1,525 boed(1) 1. Net present value before tax discounted at 10%. See…
  12. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 12
    Production Growth Per Share 3,300 boed 4,825 boed 4,825 boed(1) 1,525 boed (1) 1,525 boed 1,085/boed(1) 1,525 boed(1) 1,525 boed(1) 12
  13. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 13
    Reserve Comparison Cardinal Peers(1) 3,300 boed 24% 26% 39% 4% 4,825 boed 4,825 boed(1) 70% 37% 1,525 boed (1) 1,525 boed Proved Developed Producing Proved Undeveloped Probable 1,085/boed(1) 1,525 boed(1) 1,525…
  14. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 14
    2015 Capital Efficiency 45,000.00 40,000.00 3,300 boed 3,300 boed(1) 35,000.00 5,450 boed(1) Capital per boed (365 days) 30,000.00 4,825 boed 4,825 boed(1) 25,000.00 20,000.00 1,525 boed (1) 1,525 boed 15,000.00…
  15. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 15
    Hedging 11,000 75.00 Hedging 10,000 70.00 9,000 65.65 64.16 62.63 63.33 63.33 63.78 65.00 62.44 8,000 60.00 7,000 C WTI Average Floor Price 57.50 57.50 57.50 57.50 BBL/D Hedged 6,000 55.00 Target level…
  16. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 16
    2016 Guidance Operational 2016e(2) 2015 2014 Average Oil Price 40 WTI 49 WTI 93 WTI Average production (boe/d) 14,600 11,838 7,815 Development capital (MM)(1) 25 37 38 Wells Drilled 8 8 7 Financial Cash flow from operations…
  17. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 17
    Operating Costs 17
  18. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 18
    Sensitivities Oil (USD WTI) 35.00 40.00 45.00 WCS (CAD) 31.72 37.34 45.75 FX (USD/CAD) 0.70 0.71 0.73 Aeco (CAD) 2.50 2.50 2.50 Netback (/boe) after risk management 12.00 13.75 16.25 Average production target (boe/d) 14,400…
  19. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 19
    ARO Millions 180 160 140 120 100 80 60 11,000,000 40 20 0 09 years 1020 years 2135 years 3650 years Years Facilities NPV 10 = 56.8 MM escalated at 1.5% Wells 19
  20. April 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 20
    Analyst Coverage Firm Analyst Phone Email BMO Nesbitt Burns Ray Kwan 403-515-1500 Ray.kwanbmo.com CIBC Adam Gill 403-216-3405 adam.gillcibc.com Clarus Securities Inc. Josie Ho 403-767-0823 jhoclarussecurities.com Dundee Securities…

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