Strategy and Portfolio Development Balanced growth strategy delivering Transforming the foundation Focused integration achieving world market prices Delivering major projects Top-quartile dividend Reliable and repeatable…
Rich Queue of Projects Near-Term (2014-2016) Mid-Term (2017-2019) Long-Term (2020+) Sandall Thermal Pikes Peak North Thermal Lloyd 3 Thermal Rush Lake Thermal Rush Lake 2 Thermal McMullen Thermals Edam West Thermal Lloyd 1 Thermal…
On Pace With Our Targets 2012-2017 2010 Actual 2013 Actual Targets 5 - 8% CAGR Production (mboe/d) 287 312 (3) Cash Flow from Operations 6 - 8% CAGR (3) 3.1 billion 5.0 billion (3) Reserve Replacement Ratio 140% (1) 184%…
Delivering Higher Quality Returns Predictable outputs, less volatility, and sustainable growth achieved through: Portfolio flexibility Balancing towards longer-wavelength projects Focused integration Shaping execution risk Oilier…
Foundation Portfolio
Heavy Oil Thermal Portfolio Heating Up Thermal First Oil Current/ Status Thermal Production Forecast* Project Date Forecasted Net 80,000 Production 80 Rate Pikes Peak 1984 4,100 Bolney Celtic 1996 19,000 Producing Paradise…
Heavy Oil Typical Thermal Economics 1 Metric Target Construction time 2 years Start up to peak < 3 months production SOR target 2.0 early years Pikes Peak South Sustaining 5 - 7 capital/bbl2 Life of project 15 Years +…
Western Canada Old Dog, New Tricks Extensive resource play portfolio diversified by product, region and scale Investing in the right projects Breaking down silos to improve efficiencies 9
Asia Pacific Region Liwan Gas Project Delivered Liwan 6.5 billion project for three fields Largest offshore platform in Asia; 1 bcf/d gas terminal Producing gas and liquids Liwan offshore platform Indonesia BD field in…
Oil Sands Sunrise Energy Project Large resource base 3.7 billion barrels of 3P reserves1 Phase 1 net production of 30,000 bbls/day Approvals in place for 200,000 bbls/day (gross) On track for steaming around the end of the…
Oil Sands Longer Wavelength Business Annuity-type production Project Forecast Net Capacity Paced development with (boe/d) upside potential Near-Term (2014-2016) Technology reducing sustaining capital and operating costs Sunrise…
Atlantic Region Delivering Higher Quality Returns Near and medium-term projects staged to fund future growth and provide predictable cash flow South White Rose First oil production in Q2 2015 Combines gas injection and oil…
Atlantic Region Stay Tuned Medium and long-term commercial potential across region Multiple targets identified in Flemish Pass Balancing exploration against development West Mira under construction 17
Advisories Non-GAAP Measures This document contains certain terms which do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. None of these…