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June 2016 Corporate Presentation – Cardinal Energy Ltd.

Cardinal Energy Ltd. · Jun 30, 2016 · 22 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. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 1
    BUILT TO LAST June 2016
  2. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 2
    Cardinal Energy Profile Shares Outstanding(1) TSX: CJ Basic 73,466,287 Fully Diluted 77,042,598 Annual Dividend (/share) 0.42 Q1 2016 average production (boe/d) 14,245 2016 forecast average production (boe/d) 14,600 % Oil and NGLs…
  3. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 3
    Cardinal Asset Base Solid Base of Oil Production from 3 Core Areas 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 development…
  4. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 4
    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…
  5. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 5
    Lowering the Decline Wainwright decline reduction through property management Limited spending to hold production Flat Wainwright was purchased with less than 10% decline 6
  6. June 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. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 7
    Bantry Glauconitic HZ Wells (See Advisory) 8
  8. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 8
    Drills Sales BOE 50 WTI1 Data Current to June 4, 2016 IP30 IP 90 IP 180 IP365 Cum to Date Days to Payout 13-22-016-12W4 729 7,766 04-30-017-13W4 714 530 414 87,546 67 12-34-016-12W4 609 632 521 379 159,359 56 02-35-016-12W4 572 536 449…
  9. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 9
    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…
  10. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 10
    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…
  11. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 11
    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…
  12. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 12
    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…
  13. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 13
    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) 14
  14. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 14
    Reserve Comparison 3,300 boed 4,825 boed 4,825 boed(1) 1,525 boed (1) 1,525 boed Proved Developed Producing Proved Undeveloped Probable 1,085/boed(1) 1,525 boed(1) 1,525 boed(1) 1. Source: Scotiabank 15
  15. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 15
    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…
  16. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 16
    Hedging 11,000 75.00 10,000 Hedging 9,000 64.16 65.65 70.00 65.00 62.63 62.58 62.58 62.54 63.14 63.33 63.33 8,000 60.00 7,000 57.50 57.50 C WTI Average Floor Price BBL/D Hedged 6,000 55.00 Target level…
  17. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 17
    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…
  18. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 18
    Operating Costs 19
  19. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 19
    2016 Q1 Results 2016 2015 % change Operational Average production (boe/d) 14,245 11,023 29% Percentage of liquids 88% 93% -5% Development capital (MM)(1) 2.1 2.7 -22% Financial Cash flow from operations (MM) 7.8 21.9 -64%…
  20. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 20
    Sensitivity 12 Month Forward unhedged 21
  21. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 21
    Corporate Information Corporate Headquarters Cardinal Energy Ltd. 600, 400 3rd Avenue S.W. Calgary, AB T2P 4H2 Bankers ATB Financial CIBC World Markets Inc. RBC Dominion Securities Inc. Scotia Capital Inc. National Bank of Canada…
  22. June 2016 Corporate Presentation – Cardinal Energy Ltd. – slide 22
    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 Capital…

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