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Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp.

Spyglass Resources Corp. · Jan 11, 2013 · 18 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. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 1
    Combination of pace, avenex and charger to form a dividend paying corporation JANUARY 2013
  2. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 2
    Creating a balanced dividend-paying producer The combination of Pace (PCE), AvenEx (AVF), and Charger (CHX) will create a cash distributing producer with a balanced commodity portfolio Spyglass will implement a 0.03 monthly cash…
  3. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 3
    Strategic Rationale Low decline light & medium oil assets Size and efficient operating scale Undervalued as a growth entity Diverse asset base Sustainable dividend paying corp. with an attractive total return proposition Low…
  4. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 4
    Transaction overview The combination of AvenEx, Charger and Pace will create a cash distributing producer with a balanced commodity portfolio Transaction Spyglass will implement a 0.03 monthly cash dividend at closing Overview…
  5. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 5
    Management TEAM 30+ years of experience in the oil and natural gas sector Recently as President & CEO and Director of Provident Energy Trust Tom Buchanan Co-founder, President & CEO of Founders Energy Ltd., which was converted to CEO…
  6. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 6
    BOARD OF DIRECTORS Randy Findlay Director of Charger Energy Corp., Canadian Helicopters Group Inc., Pembina Independent Chair Pipeline Corporation, Superior Plus Corp., Whitemud Resources Inc., EllisDon Inc., - Charger - Summerland…
  7. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 7
    Key attributes & sustainability features Pro Forma Operational Current Production [boe/d] 18,000 % Oil & Liquids [%] 45% Total Proved Reserves (1) [MMboe] 57.5 Total Proved plus Probable Reserves (1) [MMboe] 93.9 Undeveloped Land…
  8. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 8
    Key attributes & sustainability features (Contd) (1)(2) 12-Month Outlook 12-Month Production Forecast [boe/d] 18,000 % Oil & Liquids [%] 52% Operating Netback [/boe] 21 - 23 (3)(4) 12-Month Cash Flow Forecast [MM] 115 - 130 Capital…
  9. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 9
    Peer Benchmarking all-in payout 2013E All-In Payout Ratio (1)(2)(3)(4) 180% 160% 140% Average: 122% 2013E All-In Payout Ratio (%) 120% 100% 80% 60% 40% 20% 0% ZAR BNP PGF ERF LNV SPY TBE RPL WCP…
  10. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 10
    Peer Benchmarking capital efficiency & decline rates Capital Efficiency (1)(2)(3) Decline Rate (1)(2)(3) 50,000 35% 45,000 30% 40,000 Average: 25% 35,000 25% Capital Efficiency ( / boe/d) Average: 30,392 Decline Rate…
  11. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 11
    Peer Benchmarking current yield & Implied Trading Levels Current Yield 12% 10% Average: 8.8% 8% Yield (MRA) 6% 4% 2% 0% LNV BNP PGF RPL ZAR ERF TBE WCP Implied Share Price 6.00 5.32 Current Share Price 5.00 Highest…
  12. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 12
    Light Oil focus areas 80 - 90 Million Capital Program Legend Proposed Capex Area Allocation Halkirk-Provost Viking 30% Pace Southern Alberta Multiple Zones (Pekisko and Other) 20% Randell Slave Point and Gilwood 20% Pembina Cardium…
  13. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 13
    Underpinning the Model Low Decline, Balanced Production Base Q3-2012 Production Q3-2012 Q3-2012 Q3-2012 Est. Base Decline Company Core Area (boe/d)(1) Oil & Liquids Op Costs (/boe) Netback (/boe)(2) Rate PCE Southern AB 4,591 48%…
  14. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 14
    Sustaining the Model Low Risk, High Return Development Portfolio Development Plays 1st yr Op 1st yr Capital F&D Unrisked Single Well Economic Prospective EUR Capex 30 day IP Costs Netback NPV at 10% Efficiency IRR Costs Indicators(1)…
  15. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 15
    Pro Forma Reserves Summary as at October 31, 2012 (1) Total Proved plus Probable Reserves by Category Pro Forma Selected Reserves Information(1) Nat. Gas NGL Total Oil (Mbbl) (MMcf) (Mbbl) (Mboe)(2) Proved Developed Producing 20,921…
  16. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 16
    Pro forma Hedging Summary Commodity Term Type Volume Price [Floor] [Ceiling] Oil (C WTI) 2013 Fiscal Call (Sold) 100 bbl/d 88.25 Oil (US WTI) 2013 Fiscal Call (Sold) 200 bbl/d 72.50 Oil (C WTI) 2013 Fiscal Call (Bought) 100 bbl/d…
  17. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 17
    Investment Highlights Creation of a Balanced, Dividend-Paying Producer 0.03 Monthly Cash Dividend Implemented Upon Closing Proven Management Team with Track Record of Creating Shareholder Value Sustainable Dividend-Paying Model…
  18. Combination of pace avenex and charger to form a dividend paying corporation – Spyglass Resources Corp. – slide 18
    Contact information Suite 1700, 250 2nd Ave. SW Suite 300, 808 1st St. SW Suite 2500, 500 4th Ave. SW Calgary, AB T2P 0C1 Calgary, AB T2P 1M9 Calgary, AB T2P 2V6 Tel: (403) 303-8500 Tel: (403) 237-9949 Tel: (403) 457-1612 Fax:…

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