OUR ASSET BASE We have a current inventory of over 1,550 drilling locations and are prepared to execute a drilling program once macro economic conditions (commodity prices and costs) support investment Q4 Production 2015 Production…
RESERVES SUMMARY 2015 Results Proved + Probable Reserves Mix (142 MMboe) 2P reserves of 142 MMboe 23% 2P NPV10% (before tax) of 2.2 billion 68% 9% 2.90/share net of total debt Minimal capital investment in low commodity Light &…
2015 GUIDANCE & ACTUALS We met our annual guidance targets in 2015 2015 Guidance (000s, except where noted an per share amounts) 2015 Actual Results (Aug 5, 2015) Production (annual average) Total (boe/d) 30,500 32,500 31,392…
1H 2016 CORPORATE STRATEGY Preserve the long-term value of our assets Conservative capital program of 16 million, funded by combination of internally generated cash flow and liquidity coverage of 195 million Focus on capital…
1H 2016 GUIDANCE As commodity prices remain low, we are maintaining a conservative capital plan for the first half of 2016. Funds Flow (000s, except where noted and per share amounts) 1H 2016 Guidance Sensitivity Impact Production…
DEBT AND LIQUIDITY Our second lien debt transactions in 2015 reduced overall debt 195 million of DEBT CAPITAL COMPOSITION available liquidity Term Secured Credit Facility1 Term subject to 550 million 355 million drawn further…
DEBT POSITION We have decreased our overall debt positon since 2013 Total Debt Outstanding 1,500 2015 year end debt reduced by over 900 million3 since 2013 1,000 Amount ('000) 500 0 2010 2011 2012 2013 2014 2015…
Q4 2015 NETBACKS & HEDGING EFFECTS In Q4 2015, we realized a gain of 22 million on crude oil and natural gas derivative contracts, resulting in a netback of 27.09/boe. Our 2015 netback including derivative contracts gain of 94 million was…
FUNDS FLOW PROTECTION Our 2015 crude oil hedge position helped provide funds flow downside protection We continue to build our 2016 hedge portfolio Commodity 1H 2016 2H 2016 Light oil: WTI (bbl/d) 2,500 1,000 Fixed Price Swap (US/bbl)…
CASH COSTS In this low commodity price environment, we have generated positive funds flow from operations Quarterly Cash Costs and Oil Prices 120 100 80 /boe 60 40 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
BAKKEN ASSETS Focus on optimization and EOR Our assets produce light oil from the Bakken and the conventional Mississippian formations with a relatively low decline rate. In 2015 we continued to focus on optimizing and expanding our…
IMPROVING TIGHT OIL RECOVERIES Future value generation through natural gas flooding With Bakken EOR projects we expect to: Bakken Attenuate declines and extend production life Increase DPIIP recovery factors from 15% to potentially…
CARDIUM ASSETS Generating positive operating cash flow Our extensive land base stretches from southwest of LTS Land Calgary to northwest of Edmonton and our assets LTS Batteries primarily produce light oil from the Cardium formation.…
CARDIUM PRODUCTION Cardium Production and Cumulative Well Count 25,000 500 20,000 400 Net Wells on Production Production (boepd) 15,000 300 10,000 200 5,000 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
AB / BC ASSETS The Swan Hills provides us with another growth platform Light-oil play Proved productive capacity with infrastructure for growth Reserve bookings confirm long-term prospectivity Implementation of EOR water flood in…
LONG-TERM WELL ECONOMICS We focus on well economics that reinforce our business model with quick payouts and strong capital efficiencies < 2 year capital payout 2 recycle ratio Business Unit Bakken Business Unit Cardium Alberta/BC Type…
LONG-TERM OPPORTUNITY PRESERVE LONG TERM EXTENSIVE ASSETS SUSTAINABILITY VALUE Extensive drilling Conservative capital 2.2 billion NPV 10% inventory investment to preserve equating 2.90/share long-term asset value net of debt…
Trading Symbol LTS: TSX Share Price (March 21, 2016) 0.39 Market Capitalization 77 million Shares Outstanding (Dec 31, 2015 Basic) 198 MM Total Debt (Dec 31, 2015) 1.63 billion Options/Incentive shares (Dec 31, 2015) 8.9 MM…
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