MICHICHI Unlocking Value AGM Presentation February 28, 2017
Marquee Energy Focusedoilweightedcompany positionedforgrowth 3
Company Snapshot Production1 2,400 Boe/d % Oil & NGLs1 47% Michichi Oil and Gas Rights 400 net sections 82 booked Locations Drilling Inventory 240 unbooked upside locations 16 mmscf/d gas processing capacity Michichi…
Oil Focused Asset Base IN SOUTHERN ALBERTA MICHICHI 130 km NE of Calgary in Southern Alberta Year-round operational access 100% operated property No environmental concerns CALGARY Excess operated oil and gas processing capacity, no…
Marquees Key Attributes Top Tier Light Oil Resource Play Over 280,000 net acres of leases in the Michichi area 370 million barrels of discovered petroleum initially in place1 Drilling density of 4-6 wells per section Over 320…
7 Michichi Geologic Model Derisked Geologic And Drilling Model More than 1200 vertical wellbores used to refine geologic model and identify drilling opportunities Core data was available from 170 wells to define reservoir…
100/03-03-032-17W Hz Well Production Horizontal vs Vertical 300 100% 90% Rate (bbl/d, mcf/d) 250 80% Water Cut (%) 03-03-32-17W4 Horizontal vs Offset Verticals 200 70% 60% 150 50% Application of Horizontal drilling has…
Michichi Well Results AVERAGE PRODUCTION FROM ALL 23 MARQUEE SAND FRACKED HORIZONTAL WELLS DRILLED PRIOR TO END OF 2016 250 Average Historic Marquee Well Results IP30 (boe/d) 186 Predictable Calendar Day Rate, BOE/D 200 IP60…
Michichi Economics WELL ECONOMICS MQL Type Well Economic Summary MQL Type Curve Strip Price Forecast Outputs Feb. 23, 2017 IRR 78% BT NPV 10% 000's 1,569 Payout Years 1.2 1st Year Netback / boe 36.60 F&D Costs (oil in place) / boe…
Michichi Resource Assessment 1 Additional Value in Gas and NGL Resource 1BasedoncontingentresourcesreportpreparedbySprouleAssociatesLtdwithandeffectivedateofDecember31,2015;preparedinaccordance…
2017 Q1 Drilling Program: 3 Well Pad 3-3-32-17W4M Thenewmultiwellpadoffsetsa Marqueewellat3-3-32-17W4 thathasproduced morethan 94,000boe (78%oil&ngls)since itwas completedinDecember2013. 13
Summary Substantial Hydrocarbons In Place More than 370 million barrels of discovered oil in place(1) plus associated gas and liquids reserves Low Risk Drilling Inventory Greater than 320 geologically and 3D seismically defined…