Corporate Presentation exploring new roads TSX: JOY September, 2018
Snapshot 10,200 boe/d balanced producer; 49% liquids(1) 16% corporate decline; interest in early stage oil resource play 0.66-0.73/share funds flow; 26-29 million annual funds flow for 2018 196 million enterprise value…
East Duvernay World Class Emerging Resource Accelerating Activity in East Duvernay Play Significant industry capital being allocated to projects focused in the oil window 3 rigs running West side of Rimbey Leduc trend…
Gilby Duvernay Resource Captured Total Organic Drill Depth Gamma Ray Total Phi ELAN Swe Carbon frac JOY well License 6-28 Strat Vertical JOY well License 12-34 lead well Significant Land and Infrastructure…
Gilby Duvernay Experienced Partner Selected Joint Venture Partner Kiwetinohk Resources Corp (KRC Operator) Operator has extensive experience in commercializing early stage resource plays JOY to retain 37.5% working interest (WI)…
Gilby Duvernay - Development Potential Commercial Development Significant running room over large acreage position for KRC (62.5% WI) and JOY (37.5% WI) Existing lands could support 250+ wells on 400m interwell spacing (tighter spacing…
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 rate provides a stable platform for…
Balanced Production in Two Concentrated Core Areas 10,000 boe/d produced in Q2 from pools in our Resource Fairway Resource Fairway Shallow, low-risk development drilling in Central Region conventional oil pools (4,800 boe/d; 56% 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 2019 Operating Highlights Actual Actual Forecast First Look Production Average (boe/d) 10,100 8,712 9,962 10,000 10,300 Oil and NGLs (%) 53% 46% 48% 50%…
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% Peer Group Includes AAV, ARX, BNP, BNE, CJ, CR, DEE, GXE, GXO, IPO,…
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 significant position in…
Remaining Resource(2) Becomes Future Target 780 MM net barrels of OOIP(1)(2) 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…
Extensive Conventional 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…
Sustainable Mid Term Growth Matziwin Journey Operated: 100% WI Undrained Extension Significant discovery in the Regional Glauconite in Q1 2018 14-28 HZ well encountered near virgin pressure in an undrained extension of East Matziwin…
Drilling & Waterflood Development Skiff Sawtooth Journey Operated: 100% WI Recoveries in established portions of the pool exceed 30% of OOIP Limited recovery to date in the southern portion of the pool 15 HZ wells drilled in pool to…
Horizontal Light Oil Drilling Crystal Viking Existing Journey Pipelines Oil - bbls/d Acquired Pipelines 9-30 Months 1-30 Journey Operated: 100% WI 11-18 Control of key processing infrastructure to improve netbacks and…
New Roads Lead to Bright Future Security Well positioned to profit from recovering oil price Value Trades at a discount to produce out value Upside Legacy pools and emerging Duvernay oil resource play provide medium and long term…
Appendix- Content Drilling inventory Central Region South Region Finding, Development and Acquisition Costs Strong Governance Experienced Management 29
Appendix - Central Region Conventional 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…
Appendix - South Region Conventional Skiff 2018 drilling program Matziwin and Skiff finished. Additional drilling planned for 2019 Horizontal Oil Well Drilling Locations(1) Booked(2) Unbooked(3) Property Formations Gross Net…
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…
Board of Directors - Strong Governance Howard Crone Chairman of the Board Executive Vice President and Director of Cequence Energy Ltd.; Director of Karve Energy Inc. Glenn Hamilton Audit Committee Chair Independent businessman,…
Experienced Management Team Alex G. Verge, P.Eng., M.Eng. President and Chief Executive Officer, and Director Over 35 years of experience: Seven years as Director of Journey (six as CEO), President and CEO of NuVista Energy, VP…
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