Corporate Presentation on our way TSX: JOY August 2017
Key Themes for 2017 Growing funds flow forecasting over 35% growth in funds flow from 2016 to 2017; funds flow growth continues into 2018 Growing production 15% - 20% production growth in 2017 vs 2016 Shrinking debt levels…
Corporate Overview 11,000 boe/d, 46% liquids production capability 2017 Q3 production forecasted at 10,400 10,600 boe/d due to turnarounds, unscheduled downtime and capital phasing 2017 exit rate target of between 11,000 -11,300…
Core Areas (Along a Prolific Resource Fairway) 11,000 boe/d(2) capability from pools in our Resource Resource Fairway Alberta Fairway Shallow, low-risk development drilling in conventional oil pools Central Region…
Journey Provides Investors with Growth, Value and Upside G U R V P O A S W L I T U D H E E Journeys low decline rates and high producing value provide security in uncertain times 7
Sustainable Growth with Less Risk Resource delineated by existing wells no expiry issues; no new lands required We operate and will scale capital to cash flow over 40MM of E&D capital projects could be implemented in 2017…
Sustainable Growth in Future Cash Flow Current Strip Pricing 2016 2017 Operating Highlights Actual Forecast Production Average (boe/d) 10,100 - 8,712 10,400 Oil and NGLs (%) 53% 46% Corporate Decline Rate (%) 20% 17% Reference…
Hedging Oil Contracts Average Floor Price Bbls/d Pricing point Term CAD /Bbl 2,500 WTI NYMEX 64.41 Q3, 2017 2,500 WTI NYMEX 64.41 Q4, 2017 1,000 WTI NYMEX 65.00 Q1, 2018 Gas Contracts Average Floor price GJ/d Pricing point Term…
How to make a Low Decline even LOWER 160 MM conventional 415 MM on waterflood 50 MM to JOY net barrels of be delineated and flooded OOIP by category 175 MM to be flooded 800 MM net barrels of OOIP 415 MM 385 MM convert…
Journey Provides Investors with Growth, Value and Upside G U R V P O A S W L I T U D H E E Journey trades at a significant discount to our peer group at a historically low oil price 13
2016 YE Reserves Summary Gross Company (WI) Reserves(1) Oil Gas NGL Reserve Category BOE RLI (Mbbl) (Bcf) (Mbbl) PDP 8,841 71.4 1,390 22,128 7.5 Total Proved 13,740 86.4 1,952 30,096 9.6 P+PDP 12,063 91.2 1,692 28,957 9.5 Proved &…
Net Asset Value (As at December 31, 2016) NPV 10% Net Asset Net Asset Value per Value Share P+P 528MM 157MM of FDC adds 212MM P+P P+P NPV10% of P+P 87MM 441MM 43.7 MM 10.08/share YE net debt O/S Shares Non-Producing P+PDP…
Reserves Value (As at December 31, 2016) Journeys 167 million of P+P future development capital (FDC) is only 3.50/P+P boe, 75% of Journeys identified capital projects remain unbooked Journeys 157 million of P+P non-producing…
Finding, Development & Acquisition Costs For Period December 31, 2014 to December 31, 2016 2014 2015 2016 (3 Yr) Acquisitions and Divestiture Capital (MM) 167.6 6.6 (9.3) 164.8 Exploration and Development Capital (MM) 92.8 41.5 16.3…
Journey Provides Investors with Growth, Value and Upside G U R V P O A S W L I T U D H E E Journey is built on a strong foundation of large OOIP reservoirs with low recovery factors 18
Remaining Resource Becomes Future Target 800 MM net barrels of OOIP 2.4% booked inventory 81.9% of oil left 18.1% ultimate behind recovery 2.5% unbooked Ultimate inventory 13.2% recovery to date Recovery Oil left behind…
Development Drilling Inventory Journey has identified 278 (net) horizontal oil drilling opportunities Horizontal Oil Well Drilling Locations(2) % Booked(1) in Total(3) Reserve Report Region Gross Net South 186 176 27% Central…
Future Growth is Driven by Economic Plays Our plays are valuable add 212MM in P+P Non-Producing NPV 10% with 157MM in FDC 506MM in unbooked inventory has the potential to more than double the value of the company Our future is…
Crystal New Discovery in Viking, Acquisition and Play Expansion Existing Journey Pipelines Acquired Pipelines 9-30 discovery Journey Operated: 100% WI Original waterflood shut down too early and never expanded to entire…
Skiff Sawtooth Drilling & Waterflood Development Skiff Section 8 Waterflood Pattern and 2017 New Drills Section 8 WF Pattern 1-7 4-9 4-8 Project Economics* Drill 3HZ, Convert 1HZ to Injection Journey Operated: 100% WI…
Designed to Out Perform Security Defensive strategy positions the Company for recovery Value Trades at a discount to produce out value at historically low oil prices Upside Legacy pools will continue to grow in value with time and…
Board of Directors - Strong Governance Howard Crone Chairman of the Board Former Executive Vice President and Chief Operating Officer, Cequence Energy Ltd.; Director of Cequence Energy Ltd. and Karve Energy Inc. Glenn Hamilton Audit…
Experienced Management Team Alex G. Verge, P.Eng., M.Eng. President and Chief Executive Officer, and Director 34 years of experience: Five years as Director of Journey (four as CEO), President and CEO of NuVista Energy, VP Engineering…
Appendix- Content Drilling inventory Alberta Central Region South Region Edmonton Calgary 28
Appendix - Central Region Drilling program currently planned for Crystal and Gilby in H2 2017 Horizontal Oil Well Drilling Locations(2) Booked(1) Unbooked(3) Property Formations Gross Net Gross Net Poplar Creek/ Belly River,…
Appendix - South Region Skiff Drilling program currently planned for Skiff in H2 2017 Horizontal Oil Well Drilling Locations(2) Booked(1) Unbooked(3) Property Formations Gross Net Gross Net Matziwin Glauconite, Colony 19 19…
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