Corporate Presentation exploring new roads TSX: JOY May, 2018
Snapshot 10,100 boe/d balanced producer; 47% liquids(1) 16% corporate decline 0.68-0.76/share funds flow; 26-30 million for 2018 200 million enterprise value 38.5 million shares 1.90/share; 73 million market cap 100 million credit…
Sustainable Mid Term Growth: Matziwin Significant Q1 discovery Undrained Extension 14-28-023-13W5 well produced over 25,000 boe (79% oil) from March 13-May 2, 2018 Well encountered near virgin pressure in an undrained extension of…
Long Term Growth through Emerging Resource Play Duvernay Land Significant position in an exciting light oil resource play +100 Sections of 100% WI Duvernay PNG Rights Lowest average royalty in the play Play Quality Superior shale…
Journey Provides Investors with Growth, Value and Upside S C U O S G F U M V T R U P P A A O T S E L I W U I L U N T R D L E A H E E I B N L G E Journeys low decline rates and high producing value provide…
Balanced Production in Two Concentrated Core Areas 10,100 boe/d Q1 from pools in our Resource Fairway Resource Alberta Fairway Shallow, low-risk development drilling in Central Region conventional oil pools (5,000 boe/d; 57% oil…
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 S C U O S G F U M V T R U P P A A O T S E L I W U I L U N T R D L E A H E E I B N L G E Journey trades at a significant discount to our peer group…
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 per Share 527 million plus 14 million Undeveloped Land 38.5 million Pro-forma 197…
Trading Price as a % of NAV per Share(1) 600% Trading Price as a % of PDP NAV per Share 550% 500% 450% 400% 350% Most Undervalued 300% 250% 200% 150% 100% 50% 0% 120% Trading Price as a % of P+P NAV per Share 100% 80% Most…
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) 6.6 (9.3) 33.3 30.5 Exploration and Development Capital…
Journey Provides Investors with Growth, Value and Upside S C U O S G F U M V T R U P P A A O T S E L I W U I L U N T R D L E A H E E I B N L G E Journey is built on a strong foundation of large OOIP…
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…
FDC per BOE of P+P Reserves(1) 10 9 Peer Group Includes AAV, ARX, BNP, BTR, CJ, CR, DEE, GXE, GXO, IPO, JOY, KEL, NVA, PONY, PRQ, PEY, SPE, SRX, SGY, TVE, TOG, WCP, YGR 8 7 6 Least Booked 5 4 3 2 1 0…
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…
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 14-28 HZ First 30 Days Undrained Extension (1) (1) Journey applies a risk factor for forecasting purposes Drilled over 20 HZ multi-stage wells in Glauconite to date…
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 Existing Journey Pipelines Acquired Pipelines 9-30 1-30 Journey Operated: 100% WI 11-18 Two acquisitions in Q1 2017 o 100 boe/d and 6.25 net additional Viking locations 5-18 analog well o Key…
Gilby Duvernay Delineation of Emerging Resource Play Ireton Shale Duvernay Shale Majeau Lake 0.45 LST -0.15 Reservoir Characteristics Some of the thickest shale to be found in the East Duvernay oil play, with…
New Roads Lead to Bright Future 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 and emerging resource play provide…
Appendix- Content Drilling inventory Alberta Central Region South Region Edmonton Calgary Strong Governance Experienced Management 31
Appendix - Central Region Drilling program currently planned for Crystal in Q1 2019 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 Executive Vice President and Interim Chief Financial Officer of Cequence Energy Ltd.; Director of Cequence Energy Ltd. and Karve Energy Inc. Glenn Hamilton…
Experienced Management Team Alex G. Verge, P.Eng., M.Eng. President and Chief Executive Officer, and Director 35 years of experience: Feven years as Director of Journey (six as CEO), President and CEO of NuVista Energy, VP Engineering…
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