Corporate Snapshot Market Summary Ticker Symbol TSX : TOG Average Daily Volume1 1.5mm shares Basic Shares Outstanding 162mm Market Cap / Enterprise Value 1.1bln / 1.4bln Year-End Net Debt 297mm Bank Line 450mm (drawn 230mm at…
Balanced Light Oil Asset Base Low decline, high netback, light oil assets Southeast 360 net undrilled locations Saskatchewan: (stable production and 93% liquids free cash flow) Significant management experience in area Alberta…
SE Saskatchewan Conventional Cash Flow Engine SE Saskatchewan Large Oil-in-Place:1 Conventional Pools 5 100+ mmbbls Depth: 1000 2000m Oil Quality: 30 40 API Well Spacing: 75 150m inter-well Undrilled Locations: 360 net…
SE Saskatchewan Conventional Cash Flow Engine Historical Asset Results vs 50 mbbl Curve 120 Economic Parameters 2008 2009 DCE&T (mm) 0.9 2010 100 2011 2012 IP (365) (bopd) 46 2013 (boepd) 51 80 2014 Production Rate…
SE Saskatchewan Torquay/Three Forks Light Oil Resource Play 6 miles Economic Parameters 1 Mile Well DCE&T (mm) 3.2 IP (365) (bopd) 98 Reserves (mbbls) 175 Capital Efficiency (/boepd) 32,700 Reserve Cost (/boe) 18.30 NPV…
Cardium Trend Significant Undrilled Development Inventory West Pembina Cardium Trend Large Oil-in-Place:1 5 mmbbls / section Land: 95 net light oil sections Depth: 1600 2000m Oil Quality: 40 API sweet Well Spacing: 4 wells /…
Cardium Results Development Drilling Rate - Time Economic Parameters 300 Cardium 185 mbbl Curve DCE&T (mm) 2.9 Average IP (365) (bopd) 93 Production Rate, 30 Day Avg (BOPD) (boepd) 115 200 Reserves (mbbls) 182 (mboe) 226…
2016 Capital Program Budget Philosophy Capital Spending Measured approach given market volatility 2016 capital budget conservatively set at 90mm and weighted to the second half of the year (25mm in 1st half; 65mm in 2nd half)…
Lower Price Environment Driving Costs Down Improving Decline Profile Improving Cost Structure Capital Allocation Lower growth results in lower Operational efficiencies and service Capital allocation to most efficient decline profile…
Sustainability Analysis Sustainability Highlights Sustainability Production Run Rate Production boepd 18,200 Run rate production of 18,200 boe/d ( 87% oil & NGLs) Decline Rate % 23.0% Annual Production Decline boepd 4,186 2016…
Sustainability Analysis Commodity Sensitivity Run Rate = 18,200 boepd WTI (USD) /bbl 35.00 40.00 45.00 50.00 FX US/C 0.70 0.70 0.72 0.74 WTI (CAD) /bbl 50.00 57.14 62.50 67.57 Edm Lt vs C WTI Differential /bbl -3.00 -3.00…
Balance Sheet Strength Historical Bank Debt Strong Financial Position 600 60% Bank Facility 450mm 500 50% Drawn (2015 Exit) 230mm 400 40% Percent Drawn mm Net Debt (2015 Exit) 297mm 300 30% 200 20% 450mm bank…
Dividend + Disciplined Growth Checklist Sustainability of Business Model Driven By: Decline Rate 23% Operating Netback (60 Edm Lt) 25 Capital Efficiency - All-in IP 365 22,000 per boepd (current) 297mm net debt Strong…
2015 - Highlights Year in Review Organic growth complemented by two strategic acquisitions doubled southeast Saskatchewan position Improved decline profile Delineation drilling expanding growth platform Increased drilling…
Modeling Assumptions Production 2016 Average & Exit: 18,200 boepd (87% oil & liquids) 0.24 per share Dividend 39mm 25mm (net of 35% SDP participation) Cash Flow Assumptions Edmonton Light Oil Differential - 5.50 / bbl of…
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