Corporate Presentation on our way TSX: JOY March, 2018
Notes 2
Snapshot (Post Share Repurchase) 10,300 boe/d balanced producer; 46% liquids(1) 16% corporate decline 1.00/share funds flow; 38 million for 2018 190 million enterprise value 38.5 million shares 1.70/share; 65 million market cap 125…
Sustainable Growth with Less Risk Resource delineated by existing wells no expiry issues; no new lands required We operate and will scale capital to funds flow projects in the queue until the end of 2018 Multiple options to…
Balanced Production in Two Concentrated Core Areas 10,300 boe/d Q1 target from pools in our Resource Resource Fairway Alberta Fairway Shallow, low-risk development drilling in conventional oil pools Central Region Edmonton…
Emerging Duvernay Light Oil Resource Play DUVERNAY LAND Significant contiguous block in the Emerging Duvernay Light Oil Resource Play +100 Sections of 100% WI Duvernay PNG Rights AREA INFRASTRUCTURE 43% ownership in Gilby 1-4 Gas…
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 9
How to make a Low Decline even LOWER 95 MM conventional 385 MM on waterflood be delineated 60 MM to and flooded JOY net barrels of OOIP by category 240 MM to be flooded 780 MM net barrels of OOIP(1) 385 MMbbls…
Sustainable Growth in Future Funds Flow Current Strip Pricing 2016 2017 2018 Operating Highlights Actual Actual Forecast Production Average (boe/d) 10,100 8,712 9,962 10,500 Oil and NGLs (%) 53% 46% 47% Corporate Decline Rate…
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 14
2017 YE Reserves Summary Gross Company (WI) Reserves(1) Oil Gas NGLs Reserve Category Mboe RLI (Mbbl) (Bcf) (Mbbl) Proved Developed Producing 8,624 97.8 2,962 27,891 7.7 Total Proved 12,774 123.0 4,028 37,300 9.8 Proved + Probable…
Net Asset Value (Pro-forma as at December 31, 2017) Reserves NPV 10% 124 million Pro forma P+P YE Net Debt Net Asset Value Net Asset Value 527 million plus 14 million per Share Undeveloped Land 38.5 million Pro-forma 197…
Reserves Value (As at December 31, 2017) Journeys 209 million of P+P future development capital (FDC) is only 3.47/P+P boe, 71% of Journeys identified capital projects remain unbooked Journeys 197 million of P+P non-producing…
Finding, Development & Acquisition Costs For the years ending December 31, 2015 to December 31, 2017 2015 2016 2017 (3 Yr) Acquisitions and Divestiture Capital (millions) (2) 6.6 (9.3) 33.3 30.5 Exploration and Development Capital…
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 19
Remaining Resource Becomes Future Target 780 MM net barrels of OOIP(1) 2.1% unbooked inventory 2.6% booked 82.3% of oil left inventory behind 17.7% ultimate Ultimate recovery 13.0% recovery Recovery to date Oil left behind…
Journeys Future Growth is Driven by Economic Plays Our plays are valuable add 201 million in P+P non-producing NPV 10% with 197 million in FDC; 1.02 of net present value is created for each dollar of FDC spent Our future is…
Extensive Development Drilling Inventory Journey has identified 233 (net) horizontal oil drilling opportunities Horizontal Oil Well Drilling Locations(1) % Booked(3) in Total(2) Reserve Report Region Gross Net South 163 155 29%…
Matziwin Glauconite Drilling & Waterflood Development Waterflood Pattern Drilled 23 HZ multi-stage wells in Glauconite to date Waterflood injection initiated at Matziwin in 2014 with 1 HZ and 2 Vert Injectors Began injecting…
Skiff Sawtooth Drilling & Waterflood Development 1-7 4-9 4-8 Section 8 Journey Operated: 100% WI Recoveries in established portions of the pool exceed 30% of OOIP with very limited recovery to date in the southern portion…
Crystal Viking Drilling & Waterflood Optimization Existing Journey Pipelines Acquired Pipelines 9-30 discovery Journey Operated: 100% WI Original waterflood shut down too early and never expanded to 1-30 entire pool…
Designed to Outperform 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…
Appendix- Content Drilling inventory Alberta Central Region South Region Edmonton Calgary Strong Governance Experienced Management 28
Appendix - Central Region Drilling program currently planned for Crystal in H2 2018 Horizontal Oil Well Drilling Locations(2) Booked(1) Unbooked(3) Property Formations Gross Net Gross Net Poplar Creek/ Belly River, 9 8 15…
Appendix - South Region Skiff Drilling program currently planned for Matziwin and Skiff in 2018 Horizontal Oil Well Drilling Locations(1) Booked(2) Unbooked(3) Property Formations Gross Net Gross Net Matziwin Glauconite,…
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…
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