CAPP Investment Symposium 2011 Tuesday, June 14th, 2011 SUSTAINABLE LONG TERM GROWTH < <
PEACE RIVER ARCH AREA OF ALBERTA Unconventional Natural Gas Resource Player Unconventional Light Oil Resource Player 2
PEACE RIVER ARCH: POUCE COUPE SOUTH GAS STRATIGRAPHIC COLUMN PLANT 3
CORPORATE SUMMARY 2009 Average Production 11,216 BOE/Day 2010 Average Production 13,079 BOE/Day 2010 4th Quarter Average Production 16,375 BOE/Day 2011 1St Quarter Average Production 17,742 BOE/Day 2011 Average Production 18,500…
CORPORATE SUMMARY 2010 Capital Expenditure Program 220 Million 2011 Capital Expenditure Program 227 Million Total Debt March 31, 2011 352 Million Credit Facility (2 year term out) 450 Million Term Loan (5 Year non revolving) 70…
KEYS TO SUCCESS: Growth By The Drill Bit Two Resource Properties, with low operating costs, and low risk development drilling. 92% average working interest in undeveloped land 97% of production is operated 99% of new drilling and…
BIR COMPANY TOTAL RESERVES 250 2010 Proven RLI 16.9 Years 2010 Proven + Probable RLI 29.8 Years 200 Reserves (MMBOE) 150 PDP 100 TP 2P 50 0 YE 2005 YE 2006 YE 2007 YE 2008 YE 2009 YE 2010 PDP 8.7 8.9 15.2 19.1…
BIR COMPANY TOTAL NPV 10% 2010 3000 2500 2000 NPV (MM) 1500 PDP 1000 TP 2P 500 0 YE 2005 YE 2006 YE 2007 YE 2008 YE 2009 YE 2010 PDP 234 208 395 497 495 647 TP 324 265 702 1019 1446 1600 2P 464 458 1031 1639…
AJM JANUARY 2011 GAS PRICE FORECAST AJM AECO (CAD/MCF) Jan 2011 vs AJM Jan 11 AJM Jan 10 Jan 2010 2011 4.10 6.70 -2.60 2012 4.60 7.05 -2.45 2013 5.20 7.45 -2.25 2014 5.50 7.55 -2.05 2015 5.75 7.75 -2.00 9
FINDING & DEVELOPMENT COSTS PER BOE 2010 Three 2010 2009 2008 Year Average FD&A Costs per BOE Excluding Future Development Capital F&D Exploration & Development Proved 9.09 2.57 9.09 6.29 F&D Exploration & Development Proved &…
RECYCLE RATIOS Cash Flow Operating Netback Netback Recycle Recycle Ratios Ratios 2010 2009 2010 2009 Recycle Ratio Excluding Future Development Capital F&D Exploration & Development Proved & Probable 4.7 13.9 3.8 10.5 FD&A…
MCKELVEY CHART RESOURCE CLASSICATION 12
SUMMARY TABLE OF MONTNEY/DOIG RESOURCES 13
RESOURCE ASSESSMENT HIGHLIGHTS A best estimate of Total Petroleum Initially-In-Place (TPIIP) of 37.13 Tcfe A best estimate of recoverable Contingent Resources of 2.52 Tcfe which is in addition to the 0.95 Tcfe of proved plus probable…
2011 STRATEGY Convert Reserves to Production Focus on Montney/Doig Natural Gas Resource Play drilling, horizontal natural gas wells and vertical wells to prove up more Montney/Doig drilling opportunities and continue to expand…
2011 EXPANDED CAPITAL BUDGET: 227.3 MILLION 2011 EXPANDED CAPITAL BUDGET GROSS WELLS NET WELLS NET CAPITAL (MILLIONS) New Old New Old New Old Drilling & Development Basal Doig/Upper Montney HZ Gas Wells 13.0 9.0 9.9 7.1 50.8 37.0…
FORECAST MONTNEY, DOIG & PHASE III (2011 & 2012 Capital Program) Forecast Montney, Doig & Phase III 2011/2012 Capital Program Facility Wells Phase III Costs Gross Net Capital Net Wells ( millions)1 Wells ( millions) 2011 18.6…
ALBERTA ADVANTAGE Birchcliff Typical Montney/Doig Horizontal Natural Gas Deep Drilling Program Well event has a TVD of 2,200m and MD of 4,200m. An event reports production of gas and qualifies for the NGDDP benefits. Benefit for the well…
MONTNEY/DOIG NATURAL GAS RESOURCE PLAY Competitor Play Trend Outline Activity& Birchcliff Land 19
MONTNEY/DOIG NATURAL GAS RESOURCE PLAY Stratigraphy & Play Types 20
MONTNEY/DOIG NATURAL GAS RESOURCE PLAY Competitor Activity Only 50% of Birchcliff Montney/Doig undeveloped land on this map. Remaining is confidential 21
MONTNEY/DOIG NATURAL GAS RESOURCE PLAY Horizontal Well Summary Map WELL ACTIVITY LEGEND 2011 Drilling - 23 (18.4 net) Horizontals 2010 Drilling - 23 (18.8 Net) Horizontals 2008-2009 On Production - 25 (21.2 Net)…
RESOURCE PLAY 1: MONTNEY/DOIG NATURAL GAS RESOURCE PLAY High initial deliverability, Steep Initial Decline, Low Terminal Decline, Stable Long Term Production Large Areal Extent, Thick Gross Stratigraphic Interval Average 1,000 Ft with…
NORMALIZED HZ MONTNEY PRODUCTION: PCSouth PC South 24
POUCE COUPE SOUTH NATURAL GAS PLANT OCTOBER 2nd 2009 26
MARCH 31, 2010 POUCE COUPE SOUTH NATURAL GAS PLANT PHASE I 27
November 10, 2010 POUCE COUPE SOUTH NATURAL GAS PLANT PHASE II 28
PC SOUTH NATURAL GAS PLANT & RELATED MONTNEY/DOIG NATURAL DRILLING The PC South Gas Plant is a significant milestone for Birchcliff as it results in a step change in terms of production and provides the following benefits: 1.…
SCIENCE AND TECHNOLOGY MICRO SEISMIC MAPPING: 30
RESOURCE PLAY 2 WORSLEY LIGHT OIL PEACE RIVER ARCH AREA OF ALBERTA ALBERTA ADVANTAGE: Horizontal Oil Program - 5% Royalty Rate of 50,000 BOE and 18 months Minimum to 100,000 BOE and 48 months Maximum depending on Measured Depth…
CURRENT NATURAL GAS PRICE SNAPSHOT /GJ 4.1338 3.5140 23 10 MAY JUNE 35
RESULTS VISION TEAMWORK COMMUNICATION On Behalf Of Birchcliff - Thank You 36
KEY PERSONNEL EXECUTIVE TEAM BOARD OF DIRECTORS A. JEFFERY TONKEN President and CEO LARRY A. SHAW 403-261-6410 jtonkenbirchcliffenergy.com MYLES R. BOSMAN GORDON W. CAMERON Vice President Exploration and COO 403-261-6412…
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