Advisory ForwardLooking Statements or Information and Additional Advisories Certain statements included in this presentation constitute forwardlooking statements or forwardlooking information under applicable securities legislation.…
Blackbird at a Glance BBI Corporate Snapshot Common Share Trading Symbol (TSX Venture) BBI Warrant Trading Symbol (TSX Venture) BBI.WT Shares Basic 550 mm Fully Diluted 763 mm Insider Holdings (Board and Management) (Basic)1…
Top-Tier Liquids-Rich Plays in North America Capital is being deployed into leading unconventional resource plays in North America, leading to larger rig counts The Montney 52,000 square miles 25% of CAD Rigs The Permian…
Montney Transaction Momentum Birchcliff Gordondale Blackbird transaction (625 Million) Elmworth Lands Private equity land acquisition Seven Generations acquisition of NuVista sells shallow Paramount Kakwa production to deploy…
1. Elmworth / Pipestone Montney Blackbirds Elmworth / Pipestone Project 86.75 sections (55,520 acres) of 100% working interest Montney rights 31 mm working capital, no debt Three intervals, 200 meters of pay (656 feet) Entire…
1. Elmworth / Pipestone Montney Greater Kakwa-Elmworth, the most liquids-rich Montney area in the basin1; Ideal combination of TOC and thermal maturity generates liquids ratios 100 bbl/mmcf while still maintaining strong natural…
1. Elmworth / Pipestone Montney Blackbirds strategic position in the basin plays host to many competitive advantages: A&D momentum with several large deals along trend, as well as active drilling by industry leaders all around BBI…
1. Elmworth / Pipestone Montney Greater Kakwa (Elmworth / Pipestone) showcasing strong IRRs and NPVs at new lower BBI D&C cost (1) Significant recent cost savings represent a step-change in economics Lower all-in well costs…
1. Elmworth / Pipestone Montney Encana Super Rich Condensate corridor of Elmworth (100 bbls/mmcf) Latest Encana wells outperforming original area type curves BBI 2-20 and Type Well Metrics Encana Net BBI 02/2-20 Location Btax…
2. Stacked Pay with 3 Distinct Intervals 3 distinct intervals in Montney delineated Existing well to date Future Well location Liquids-Rich Resource with potential for 100 bbls/ mmcf 00/10-04-070-08W6/0 00/13-22-070-08W6/0…
2. Stacked Pay with 3 Distinct Intervals Existing well 3 distinct intervals in Montney delineated to date Future Well location Liquids-Rich Resource with potential for 100 bbls/ mmcf 00/05-02-072-09W6/0 02/10-08-070-07W6/0…
4. BBI Optimization and Cost Reduction Drilling Optimization BBI 5-26 Drill Time: Blackbird has implemented leading edge 49 Days optimization to achieve reduction in drill times: BBI 6-26 Drill Time: Monobore (first in Elmworth…
4. BBI Optimization and Cost Reduction Completion Optimization Designing completions to allow more rock to be contacted closer to the wellbore Completion Completion Completion Program 1 Program 2 Program 3 (5-26 and 6-26) (2-20)…
4. BBI Optimization and Cost Reduction Blackbird is not focused on one time cost reductions or IP rates but rather a sustainable, repeatable, cost effective solution to D&C Based upon actual competitor D&C costs and internal BBI…
5. Canadian Innovation: 20
5. Canadian Innovation: Blackbird has entered into an agreement to acquire a 10% indirect interest in Stage Completions Inc. (Stage) Stages fracturing technologies enable increased well productivity and significantly reduced well…
6. Transformative 2016 (Facilities and Take-away) Infrastructure approval and commencement of construction imminent Pipeline gathering system (Q4 2016 commissioning) 10 mmcf/d Facility (liquids recovery and stabilization) (Q4 2016…
6. Transformative 2016 Flowing Liquid Load Fluid Casing Pressure Raw Gas Hydrocarbons Total Production Liquids/Gas Ratio Recovered to Well (kPa) (mmcf/d) (bbls/d) (boe/d) (bbls/MMcf) Date 5-26 (Upper 2,100 0.9 313 466 341 32.3%…
7. Corporate Social Responsibility Blackbird believes that being a good corporate citizen is critical Corporate Social Responsibility is also critical to gain social license to operate in the community Tree Planting Program: focused…
8. Moving to Next Level in Value Level 1 Level 2 Level 3 (Whats Next) Movement to increased value accelerating with Infrastructure construction, well development and focused capital allocation Resource Capture Resource…
8. Moving to Next Level in Value D&C an Upper Montney well in Q3 2016 (budget 24 day drill, target sub 20 day drill) for 5.5 million + further delineation by Blackbird and peers Add additional acreage in the Elmworth Super…
Appendix: Blackbirds Management Team Name & Title Experience Garth Braun is a seasoned oil and gas executive with over 11 years of oil and gas experience combined with 30 years of diversified business experience in finance and real…
Appendix: Montney Drilling Days Source: Public data as per AER, Internal Company information 28
Appendix: Facilities and Infrastructure 100% owned and operated BBI 12-14 100% owned and Facility operated BBI pipeline (Q4 2016 Commissioning) gathering system (Q4 2016 Commissioning) Blackbird indicative south Wapiti…
Appendix: BBI Optimization and Cost Reduction Blackbird is continually analyzing completion designs, frac parameters, and associated deliverability of horizontal wells with multi-stage completions to optimize completion design Frac…
Advisory Analogous Information Certain information in this document may constitute analogous information as defined in National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101), including, but not limited…
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