Frontera Energy Corporate Snapshot Q1 2018 Production Mix Natural Gas Capital Structure (Mar. 31, 2018)(1) Heavy Oil 7% Shares Outstanding (TSX: FEC; MM) 50 Market Cap (MM)(2) 1,563 38% 66.2 Mboe/d Total Cash(3) /Cash and Cash…
First Quarter 2018 Results & Operational Highlights 100% EXPLORATION SUCCESS & EXCITING OPPORTUNITY PIPELINE Q1 Q4 Alligator-2 well in Guatiqua tested at an average rate of 1,000 Bbl/d % Chg. 2018 2017 Coralillo-1 well in Guatiquia…
Leading Independent Latin American E&P Balanced Exploration and Development Portfolio Key Development Opportunities Workovers, Recompletions, and Optimizations Quifa Heavy Oil Cubiro Waterflood Peru: light, medium and heavy oil…
Unlocking Brownfield Development Opportunities Focused Application of Technical Expertise Detailed Technical Review & Key Reservoir Studies Ongoing More efficient well design & reservoir optimization Optimization of existing…
Development Quifa: Cornerstone of Heavy Oil Development Development and Exploration Upside at Caja and Jaspe 2018 Budget: 79 horizontal well infill drilling program 3 vertical wells recently completed in Quifa SW and 3 of 4 in…
Development Quifa Results Post-Reservoir Study Higher Oil Production Rates Recent Wells: Oil (Bbl/d) 900 800 37% increase 700 600 500 400 300 200 100 0 QF-541HST QF-378HST QF-549HST QF-571HST…
Development Cubiro Complex: Secondary Recovery in the Central Llanos Waterflood to Slow Decline and Increase Recovery Efficiency 2018 activity: Waterflooding pilot commenced on January 5, 2018 Phase II of the waterflooding pilot…
Development & Guatiqua: Building on Deep Llanos Success Exploration Development & Near Field Exploration Opportunities 2017 development drilling campaign YE 2016 2018 extended reservoir closure and significantly contributed to…
Exploration Peru: Block Z1 Fronteras First Offshore Exploration Well Two producing fields: Corvina and Albacora Delfin Sur-1 exploration well to spud in Q3 2018 Targeting a large structural closure 4 km from Corvina production…
Exploration Llanos 25: High Impact Exploration Drilling Underway Acorazado-1 well testing structural closure on trend with proven Cusiana and Cupiagua hydrocarbon fairway Prospect definition based upon 273 km2 of high-quality 3D…
Strategic Initiatives Potential to Unlock Significant Value 1. Bicentenario Pipeline Cost Reduction Initiatives Agreement to acquire IFCs 36% interest in Pacific Midstream Ltd. (October 2017) was the first step towards restructuring…
Balance Sheet Strength Strong Cash Position, Low Leverage Ratios Balance Sheet Metrics (March 31, 2018) Total Cash (1) and Cash Equivalents (MM) 696/516 Net Debt/EBITDA(2) (0.2)x Debt to Book Capitalization(3) 16.1% Interest…
2018 Brent Oil Price Hedging Summary Hedges to Roll Off End of October FWD May 11th Floor Ceiling 77.14 76.73 78 76.56 76.26 75.80 75.30 74.83 74.31 74 USD/bble 70 The positive impact of 66 Fronteras exposure to strong…
Peer Valuation Comparison Frontera Trades at a Discount to Peers; Unique Investment Opportunity Enterprise Value (EV) / 2018E EBITDA(1) EV / 2P Reserves ( per Boe)(1,2) Average Average 15.18 4.5x 4.4x 4.2x 3.8x 3.7x 11.39 11.03…
Investment Opportunity Positioning For Growth 1. Strong balance sheet 2. 93% crude oil production weighting with exposure to strong Brent oil prices 3. New, highly experienced management team with deep technical knowledge 4.…
Appendix
Post-Restructuring Achievements Path to Unlocking Value April 2018 Richard Herbert appointed CEO December 2017 David Dyck appointed CFO Completed reorganization of Colombian business units to simplify Corporate Structure…
2017 Reserves Evaluation Results Replaced 2017 Production and Increased 2P NPV10 Value 2P Net Reserves - MMBOE NPV by Category 10% (MMUSD) 200 27 -26 3,000 -18 2,523 150 2,500 2,324 1,932 587 2,000 1,918 751 100 494 402 1,500 714…
Transportation Commitments Summary Capacity and Commitments Balanced when Bicentenario Working Commitments (000) Transportation (As per Note 24 of Financial Statements) (Ship-or-Pay) 3,198 2,876 Other ToP(2) 2,876 P135(3) 240 82…
Peru: Block 192 Current service contract expires in June 2019 Recent change of government - new policies on contract renewal yet to be established 1.3 million-acre block 13 producing fields with varying API gravities (light,…
Exposure to Superior International Oil Prices Strong Leverage to Brent Oil Price International Oil Prices Outperform North American Oil Prices(1) 75 65 US/bbl 55 45 35 25 Jun-17 Oct-17 Jul-17…
Proven Management Team Richard Herbert Over 36 years of experience with major international oil & gas companies, including BP, Talisman Energy, and Phillips Petroleum CEO Responsible for major exploration and development initiatives in…
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…
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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