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November 2017 Corporate Presentation – Frontera Energy Corp.

Frontera Energy Corp. · Nov 13, 2017 · 25 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. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 1
    The New Frontera November 2017
  2. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 2
    Corporate Snapshot The New Frontera Q317 Production Mix Capital Structure (September 30, 2017) Natural Gas Shares Outstanding (TSX: FEC; MM) 50 Heavy Oil Market Cap (MM) 1,746 8% Cash and Cash Equivalents (MM)(1) 600 / 501 36%…
  3. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 3
    Post-Restructuring Achievements & Upcoming Catalysts Path to Unlocking Value Oct. 26, 2017 Sale of PEL for 56 MM to EDEMSA; 149 MM divested to date Sep. 26, 2017 First exploration well spud Jun. 12, 2017 Name changed to…
  4. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 4
    Technical Review of Entire Asset Base Technical Strength from Detailed Reservoir Study Integrated, team-based approach and operational best practices More efficient well design (dual completions and multilaterals) Low-hanging fruit…
  5. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 5
    Leading Independent Latin American E&P Diversified Exploration and Development Portfolio Key Development Opportunities Workovers, Recompletions, and Optimizations Llanos 25 Quifa Heavy Oil Cubiro & Gautiqua Light/Medium Oil Peru:…
  6. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 6
    Quifa: Cornerstone of Heavy Oil Development Exploration & Development Upside in Caja & Jaspe 65-well hz infill program to maintain production; 15- well vertical program targeting reserve replacement Upgrading water handling facilities…
  7. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 7
    Quifa Results Post-Reservoir Study Higher Oil Rates, Lower Water Cuts Facilitate Production Growth Recent Wells: Oil (Bbl/d) Recent Wells: Water Cut (%) 600 120% 500 100% 400 80% 56% avg. 300 235 Bbl/d avg. 60% 200 40% 100…
  8. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 8
    Guatiqua: Building on Deep Llanos Success Development & Backyard Exploration Alligator-1X exploration well encountered pay in three zones; currently testing Dual-completion pilot program underway 1.5x production for 1.2x the cost…
  9. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 9
    Cubiro: Secondary Recovery in the Central Llanos Waterflood to Slow Decline, Increase Recovery Drilling Copa A Norte-4HST and Copa-27H development wells in Q4 Q4 waterflood project at Copa expected to significantly increase recovery…
  10. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 10
    Llanos 25: Big E Exploration Potential 2018 Reserves Growth & 2019 Production Growth Proven hydrocarbon fairway on trend with Cusiana and Cupiagua fields 273 km2 of high-quality 3D seismic and extensive reprocessed 2D seismic…
  11. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 11
    Peru Block 192 Production & Reserves Growth Opportunity 1.3 million-acre block with near-term production potential of 5 to 10 MBbl/d Oleoducto Norperuano 110 MBbl/d capacity 15 producing fields with varying API gravities (light,…
  12. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 12
    Asset Sale Summary Over 295 MM of Liquidity Unlocked Asset Divested Cash Exploratory SBLC / MM Proceeds Commitments(1) Collateral(2) Brazil Exploration Blocks 5.5 76.4 42.5 Colombia Exploration Blocks 4.9 34.3 5.4 Colombia…
  13. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 13
    Latent Value in Non-Core Assets Midstream & Infrastructure Assets Hold Significant Unrealized Value 1) Puerto Baha 2) ODL Pipeline 41.8% Gross Interest / 39.6% Net Interest(1) 35.0% Gross Interest / 22.3% Net Interest(4) Greenfield…
  14. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 14
    Take-or-Pay Reduction Initiatives Addressing Fixed Transportation Costs Bicentenario Pipeline (BIC) Frontera committed capacity: 47,333 Bbl/d Cost reduction initiatives: Reduced tariffs as a result of operational cost reductions…
  15. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 15
    Balance Sheet Strength Healthy Cash Position, Low Leverage Ratios Balance Sheet Metrics (Sep 30, 2017) Cash and Cash Equivalents (MM) 600 Net Debt/EBITDA(1) (0.3x) Debt to Book Capitalization(2) 15.9% Interest Coverage(3) 13.0x…
  16. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 16
    Significant Value with Catalysts for Upside Frontera Trades at a Discount to Peers; Unique Upside Opportunity Enterprise Value (EV) / 2017E EBITDA(1) EV / 2P Reserves ( per Boe)(1,2) 9.4x Average 19.61 Average 7.1x 6.0x 5.6x 5.5x…
  17. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 17
    Reasons to Own Frontera Value with Catalysts 1. Discounted valuation & near-term catalysts to unlock value: Contract renegotiations (pipeline tariffs, Peru) Exploration drilling opportunities (Llanos 25) Portfolio optimization through…
  18. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 18
    Appendix
  19. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 19
    Third Quarter 2017 Operational & Financial Highlights Strong EBITDA and Cash Flow in Excess of Capital Expenditures Q317 Q217 % Chg. PRODUCTION / REVENUE / PRICE Relatively flat production helped by increased light and medium oil…
  20. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 20
    Oil Hedging Summary 2017/2018(1) Downside Protection for the Next 12 Months 61.63 60.71 60.43 60.22 60.03 59.85 60.05 59.60 59.65 59.44 59.31 60 59.22 58.99 58.78 58.57 57.61 USD/bbl 57.14 56 55.73 55.86 55.91 55.45…
  21. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 21
    2016 Reserves Revisions Prudently Reassessed Reserves, D&M and RPS Reviewed Economic write-down 291 due to lower oil prices 38 40 6 6 171 36 5 14 9 Technical write-down 2015 2P 2016 Ro La Lote Z1 Other Quifa Guatiqua…
  22. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 22
    Transportation Commitments Summary Capacity and Commitments Balanced when Bicentenario Working Commitments Transportation (As per Note 16 of Financial Statements) (Take or Pay/Ship or Pay) 3,515 3,116 Other ToP(3) 288 3,116…
  23. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 23
    Proven Management Team Fresh Eyes and Deep Latin American Expertise Barry Larson Founder and COO of Parex. Former VP, Ops. & COO of Petro Andina. Co-founder & former VP of Aventura Energy CEO Over 40 years of oil & gas industry…
  24. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 24
    Independent Board of Directors Engaged and Active in Generating Shareholder Value Gabriel de Alba Managing Director and Partner of The Catalyst Capital Group Inc. Chairman International experience restructuring public and private…
  25. November 2017 Corporate Presentation – Frontera Energy Corp. – slide 25
    INVESTOR RELATIONS CONTACT: Grayson M. Andersen Corporate Vice President, Capital Markets Calle 110, No 9 25, Piso 16 Bogota, DC, Colombia +57 (314) 250-1467 gandersenfronteraenergy.ca irfronteraenergy.ca

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