Corporate Profile Production 9 months ended Sep 30, 2017 Ticker Symbol 17,364 boe/d; 98% oil TSX CONA 90% natural or artificial enhanced oil recovery Shares Outstanding Sep 30, 2017 101.0 million shares Reserves(1) Public float 31.0…
Why Invest in Cona Cona Today 2017 significant year of transition New knowledgeable and committed major shareholder Focus on low decline, high free cash flow(1) generating assets Cona Tomorrow Position Cona to take advantage…
Concentrated Asset Base Large, low decline oil resource 1.9 billion bbl DOIIP(1,2) only 12%(2) recovered Best-in-class base decline rate of 12% Ideally suited for EOR techniques Excellent reservoir quality Low viscosity oil…
Balance Sheet Bank Facility Active Hedging Program Facility availability of 325.0 million 2018 2019 188.4 million drawn at Dec 31, 2017 Hedged Average Hedged Average Volumes WTI Price(2) Volumes WTI Price(2) (bbl/d) (C/bbl) (bbl/d)…
Significant Access to Markets Diverse marketing strategy: 1. Pipelines Cheapest transportation cost Requires diluent 75% of Conas production is pipeline connected to Enbridge mainline at Kerrobert 2. Trucking Greater flexibility…
Large Resource Ideally Suited for EOR Techniques 1.1 billion barrel DOIIP(1,2) across four properties 850MMbbl(2) remaining beyond 2P booked recovery Recovery Summary 500 450 400 350 MMbbls 300 250 200 150 100 50 0…
Asset Characterization Total operating income(1) of 97.5 million for the nine months ended Sep 30, 2017 Large hydrocarbon resource Excellent reservoir quality Q3 2017 production of 5,500 boe/d EOR potential / optimization /…
Cactus Lake EOR Cash Flow Engine Highlights Q3 2017 production 8,800 boe/d DOIIP(1, 2) 402 mmbbl 2P Reserves(2) 65 million boe Recovered to date(2) 13% Est. ultimate recovery(3) 36% (2P Recovery factor 28%) Wells drilled since…
Cactus Lake Proven Repeatable Development Process Development Sequence Corporate Presentation January 2018 11
Cactus Lake Free Cash Flow Capital Expenditures and Operating Income 140 90.00 120 80.00 100 70.00 80 60.00 million /bbl 60 50.00 40 40.00 20 30.00 - 20.00 2014 2015 2016 2017 Annualized Operating Income(1)…
Cactus Lake Stabilized Decline, Long Life Value Additions Cactus Lake Area Oil Production Normalized Production Adds by Program Year 3,000 12,000 40 Acre Waterflood 10 Acre Water/Polymer flood 2,500 10,000 2,000 bbl/d…
Cactus Lake Robust Value Economics 10 Acre Infill Results vs 2018 Budget Type Curve 30 Single Well Economics(1) 25 DCET Capital (000) 439 Facl. Capital (000) 52 Production (bbl/d) 20 Polymer /Yr(2) (000) 69 15 IP 365…
Winter Low Risk Conventional Drilling Highlights Q3 2017 production 3,300 boe/d DOIIP(1, 2) 429 mmbbl 2P Reserves(2) 19 million boe Recovered to date(2) 8% Est. ultimate recovery(2) 12% Hz wells drilled since 2010(3) 228 Drilling…
Winter Repeatable Horizontal Infill Drilling Consistent performance, large repeatable inventory 228(1) horizontal wells drilled on 25 meter spacing since 2010 419(2) locations identified on 25 meter spacing Downspacing upside Have…
Winter Torque to Increasing Oil Prices Capital Expenditures and Operating Income 70 90.00 60 80.00 50 70.00 40 60.00 million /bbl 30 50.00 20 40.00 10 30.00 - 20.00 2014 2015 2016 2017 Annualized Operating…
Winter Per Well Economics Type Curves Single Well Economics(1) 60 2018 Forecast DCET Capital (000) 664 50 2017 Actual IP 365 (boe/d) 43 40 Oil Rate (bopd) EUR (Mboe) 47 30 Op. Costs (/boe) 16.95 20 Trans. & Other Costs…
Court Self Sustaining with Minimal Investment Highlights Q3 2017 production 1,700 boe/d DOIIP(1,2) 117 mmbbl 2P Reserves(2) 10 million boe Recovered to date(2) 25% Legend Est. ultimate recovery(2) 36% Wells Court Cona Drills…
Court Free Cash Flow Capital Expenditures and Operating Income 40 90.00 35 80.00 30 70.00 25 60.00 million /bbl 20 50.00 15 40.00 10 5 30.00 - 20.00 2014 2015 2016 2017 Annualized Operating Income(1) Capital…
McLaren Channel Thermal Large oil in place Legend Excellent reservoir quality Wells Long life assets Cona Wells Large future production growth upside Project Wells McLaren Pools Infrastructure in place to support future growth…
Plover Lake Thermal Improving Results Plover Lake SAGD Total Rates Oil Steam 3,000 9,000 Under-injection of Over-injection of steam was Balancing 2,500 steam led to near ineffective, production injection wellbore skin damage…
Plover Lake Thermal Robust Economics 2018 budget includes one additional well-pair to lever existing steam infrastructure and apply operational learnings Peak rate sustainable at 500 bbl/d for 3 years Project yields strong…
Contact Information Head Office: 1900, 421 7 Avenue SW Calgary, AB T2P 4K9 (403) 9303000 www.conaresources.com Rob Morgan President & Chief Executive Officer Michael Makinson Vice President, Finance and Chief Financial…
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