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January 2018 Corporate Presentation – Frontera Energy Corp.

Frontera Energy Corp. · Jan 22, 2018 · 27 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. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 1
    Positioning for Growth January 2018
  2. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 2
    Corporate Snapshot The New Frontera All values in USD Q3 2017 Production Mix Natural Gas Capital Structure(1) Heavy Oil Shares Outstanding (TSX: FEC; MM) 50 8% Market Cap (MM)(2) 1,720 36% Cash and Cash Equivalents (MM)(3) 600 /…
  3. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 3
    Post-Restructuring Achievements & Upcoming Catalysts Path to Unlocking Value December 2017 Completed reorganization of Colombian business units to simplify Corporate Structure September 2017 FEC drills first exploration well…
  4. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 4
    Reasons to Own Frontera Value with Catalysts 1. Sustainable business with existing asset base 2. Extremely strong balance sheet & capex within cash flow 3. Successful Operating EBITDA expansion strategy 4. Disciplined management…
  5. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 5
    Unlocking Opportunities on Existing Asset Base Detailed Technical Review & Key Reservoir Studies Increased Technical Excellence More efficient well design (dual completions and multilaterals) Low-hanging fruit development…
  6. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 6
    Leading Independent Latin American E&P Balanced Exploration and Development Portfolio Key Development Opportunities Workovers, Recompletions, and Optimizations Quifa Heavy Oil Cubiro & Guatiqua Waterfloods Peru: light, medium and…
  7. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 7
    Quifa: Cornerstone of Heavy Oil Development Exploration & Development Upside in Caja & Jaspe 2017 completed activity: 65-well Hz infill program to maintain production 10 of 15 verticals drilled with promising results Vertical…
  8. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 8
    Quifa Results Post-Reservoir Study Higher Oil Rates Facilitate Production Growth Recent Wells: Oil (Bbl/d) 900 800 700 44% increase 600 500 400 300 299 200 207 100 0 QF-363H QF-377H QF-442H QF-447H QF-471H…
  9. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 9
    Guatiqua: Building on Deep Llanos Success Development & Backyard Exploration Alligator-1X exploration well currently testing potential field extension Alligator-2X to test potential separate closure Dual-completion pilot program…
  10. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 10
    Cubiro Complex: Secondary Recovery in the Central Llanos Waterflood to Slow Decline, Increase Recovery Efficiency Drilled Copa A Norte-4H and Copa-27H development Wells in Q4 2017 2018 waterflood project at Copa expected to…
  11. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 11
    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…
  12. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 12
    Peru Block 192 Production & Reserves Growth Opportunity 1.3 million-acre block 15 producing fields with varying API gravities (light, medium and heavy) Three shut-in heavy oil pools with potential to reactivate with diluent supply…
  13. January 2018 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 39.2% Interest 35.0% Gross Interest / 22.3% Net Interest(4) Greenfield liquids import-export terminal…
  14. January 2018 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: Agreement to acquire IFCs 36% of Pacific Midstream first step…
  15. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 15
    Balance Sheet Strength Strong 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. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 16
    Exposure to Superior International Oil Prices Strong Leverage to Brent Oil Price International Oil Prices Outperform North American(1) FEC Cash Flow Torque to Brent(2) 70 FEC 60 TGL GPRK US/bbl 50 GTE 40 PXT CNE…
  17. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 17
    Compelling Value with Catalysts Frontera Trades at a Discount to Peers; Unique Investment Opportunity Enterprise Value (EV) / 2017E EBITDA(1) EV / 2P Reserves ( per Boe)(1,2) 10.6x Average 19.24 Average 7.3x 6.7x 11.86 11.31…
  18. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 18
    Reasons to Own Frontera Value with Catalysts 1. Sustainable business with existing asset base 2. Extremely strong balance sheet & capex within cash flow 3. Successful Operating EBITDA expansion strategy 4. Disciplined management…
  19. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 19
    Appendix
  20. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 20
    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 11.2 34.3 5.4 Colombia…
  21. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 21
    Third Quarter 2017 Operational & Financial Highlights Strong EBITDA and Cash Flow in Excess of Capital Expenditures Q3 2017 Q2 2017 % Chg. PRODUCTION / REVENUE / PRICE Relatively flat production helped by increased light and medium…
  22. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 22
    2018 Brent Oil Price Hedging Summary FWD Jan 15th Floor Ceiling 70 69.22 68.27 67.88 67.53 67.19 66.84 66.47 66.08 65.70 66 65.31 61.63 /Bbl 62 60.05 59.31 59.22 58 55.73 55.86 55.91 55.45 55.28 55.37 53.83…
  23. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 23
    2016 Reserves Revisions Prudently Reassessed Reserves, D&M and RPS Reviewed MMBoe 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…
  24. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 24
    Transportation Commitments Summary Capacity and Commitments Balanced when Bicentenario Working millions Commitments Transportation (As per Note 16 of Financial Statements) (Take or Pay/Ship or Pay) 3,515 3,116 Other ToP(3) 288…
  25. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 25
    Proven Management Team 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 experience including 21 years of international…
  26. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 26
    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…
  27. January 2018 Corporate Presentation – Frontera Energy Corp. – slide 27
    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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