Oil-Weighted Growth Engine October 2018 Corporate Presentation
About PRAIRIE PROVIDENT Oil and liquids focused E&P company operating primarily in Alberta Low-decline production generates attractive operating netbacks* in current environment 70% liquids (62% light oil) and 18% base decline 5…
STRATEGY Focus on development of conventional oil and liquids plays in Evi, Michichi/Wayne and Princess that offer compelling economics Maintain capital spending levels to approximate EBITDAX(1); remain flexible to allow quick…
MQX / PPR Merger Benefits STRATEGIC HIGHLIGHTS Potential for increased market awareness, with Pro Forma Snap Shot increased scale and self-funded growth potential Production1 7,700 boe/d (69% liquids) Improving financial metrics…
PRO FORMA KEY ATTRIBUTES (AS AT JUNE 30, 2018) Following the merger Prairie Provident will have the following key attributes: A light and medium oil-weighted asset base focused on three core areas in Alberta (Michichi/Wayne, Princess…
PRO FORMA RESERVES HIGHLIGHTS (2017) Volumes Value (Btax) 1.26/ share PDP net asset value per share(1) Reserve Category(1)(2) Oil (mbbl) Gas (mmcf) Total (mboe) NPV10 (m) 0.65/ share Debt adjusted PDP net asset value per…
MICHICHI / WAYNE SYNERGIES Marquees Michichi assets are in close proximity to the Wayne property which provide numerous synergies. Est. savings /yr. Utilization of Michichi battery 0.8 million Gas redirection project 1 million Other…
FOCUSED ASSET BASE KEY FOCUS AREAS Proved + Probable Reserves(1) EVI PPR MQX Total 2,000 boe/d Wayne/Michichi 20.7 22.6 43.3 (PPR and MQX) Lower cretaceous oil/gas Year round access Proved + Probable NPV10 Value(1) Hz…
MANAGEMENT TEAM AND BOARD Management Board of Directors Tim S. Granger, President & CEO CEO at Molopo Energy Limited, President and CEO at Compton Petroleum Patrick R. McDonald, Chairman Corporation, COO at Paramount Energy, Managing…
PRINCESS 13-24-20-11W4 Current prod 600 boe/d Robust Economics & Low-Risk Growth Driver Current production of 2,100 boe/d of medium 13-26-020-11W4 Current prod 560 boe/d gravity oil Revenue/boe 47.45 2-28(9-21)-19-10W4 Current…
PRINCESS AREA ECONOMICS Average Type Well Economics* Glauconite Type Well 350 Capital: 1.9 million/well 300 ROR: 140%(1) Payout: 0.9 years IP30: 330 boe/day 250 Recycle Ratio: 3.4 Production (boe/d) EUR: 240 Mboe 200…
WAYNE AREA Current production of 1,000 boe/d of medium gravity oil 13-35-27-21 Revenue/boe 34.13 Current prod 120 boe/d 15-35-27-21 Current prod 40 boe/d Opex/boe 12.27 Royalty/boe 6.25 Operating netbacks(1) 15.61/boe(2) 2018…
WAYNE AREA ECONOMICS Average Type Well Economics* Average Ellerslie Type Well 300 Capital: 1.7 million/well ROR: 32%(1) 250 IP30: 265 boe/day Payout: 2.1 years EUR: 155 Mboe 200 Production (boe/d) Operating Netback:…
MARQUEE- MICHICHI BANFF DEVELOPMENT Current production of 2,700 boe/d of medium gravity oil and natural gas Revenue/boe 42.65 Opex/boe 17.75 Royalty/boe 2.85 Operating netbacks(1) 22.05/boe(2) 2018 activity: Drilled and tied in…
MICHICHI AREA ECONOMICS Michichi Type Well Average Type Well Economics* 250 Capital: 2.0 million/well 200 IP30: 200 boe/day ROR: 51%(1) Payout: 1.6 years Production (boe/d) 150 EUR: 130 Mboe Operating Netback: 40.00/boe…
EVI AREA Current production of 2,000 boe/d Operating netbacks(1) of approximately 37/boe(2) 2018 activity: 5km expansion of waterflood pipeline Conversion of 3 wells to injectors Plan to drill 4 (3.5 net) exploration Granite Wash…
EVI SLAVE POINT WATERFLOOD Primary Producers 30% decline rate Waterflood Producers minor decline 17
ATTRACTIVE ECONOMICS & INVENTORY Cash flow, hedges and access to capital support growth plans Evi Princess Wayne Evi Evi Michichi Average Type Well Economics*(1) Slave Point Glauconite Ellerslie Granite Wash Waterflood Banff Drill,…
POSITIONED FOR GROWTH Oil-weighted and low-risk asset base 2018 Guidance(1) Refocused Wheatland drilling program targeting liquids for better economics Average production (boe/d) 5,200 5,600 Attractive waterflood, Granite Wash and…
ACTIVE RISK MANAGEMENT 65% hedged 50% hedged of forecast 2018 base volumes (net of royalties) of forecast 2019 base volumes (net of royalties) Oil Hedges (bbls)(1) Gas Hedges (GJ)(1) 3,500 9,000 8,000 3,000 7,000 2,500 6,000…
WHY INVEST IN PPR PPR trading at Compelling value opportunity 38% of PDP NPV10(2) (Btax) Focused on returns Disciplined approach to capital allocation and focus on projects that provide the highest IRR Asset portfolio provides…
SUMMARY OIL-WEIGHTED GROWTH ENGINE Oil & liquids focused E&P company executing a returns-based growth strategy Attractive Assets Capital Management 5,700 boe/d production Development funded with operating cash flows (7,700 boe/d…
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