Corporate Update (January 24, 2019) Over the last few quarters, Zargon has struggled to meet its financial obligations and has eliminated discretionary capital programs and deferred field work-overs in order to conserve cash.…
Debenture Restructuring Proposal Approved (Special Meeting: Jan. 10, 2019) At a January 10, 2019 special meeting of Zargons 8.00% Convertible Unsecured Subordinated Debentures, the Debentureholders voted on a proposal whereby the…
Zargon Key Investment Highlights Zargon is a Alberta and North Dakota medium gravity oil gas producer with exceptional torque to oil prices, in addition to offering development oil exploitation opportunities through development…
Key Considerations Zargons long-life oil reserves provide investors exceptional torque to oil prices: Exceptional Operational Zargons production tends to be from mature low-decline, low-rate wells with Torque to relatively higher…
Alberta Exploitation Core Areas For 2017 and Q1 2018, annual oil production declines of about 10 percent were offset by oil exploitation projects (waterfloods, reactivations, and facility modifications). Subsequent to Q1 2018, a…
North Dakota Properties Long life conventional oil properties, average of 27 API gravity oil - Stable production, large OOIP, more than 15 MMbbl oil produced. - Infrastructure and water disposal in place. - Infill drilling…
Little Bow ASP EOR in a mature Southern Alberta Waterflood ASP Modified Phase 2 Area ASP Facility & Gas Plant ASP Phase 1 Future Polymer ASP Phase 1 Conformance Project Remediation & Phase 2 Extension Future ASP Phase 1)…
Alberta Drill Ready Locations Prob. Of Risked Risked Cost Drill Ready Location Target Success Prod Reserves (million) (%) (bbl/d) (mbbl) Bellshill Lake (02) 16-34 Vertical Dina attic 0.60 85 43 34 03/16-34 (03) 16-34 Vertical…
H1 2019 Cash Flow Parameter Estimates Zargons field, corporate and total cash flows have been exceptionally sensitive to the recent variations in Zargons field prices that were caused by volatile WTI pricing and WTI-WCS differentials.…
Appendix McDaniel YE 2018 Reserve Appraisal zargon.ca
McDaniel YE 2018 Reserves Review Company Reserves by Category Oil and Liquids Natural Gas BOE Company Reserves At December 31, 2018 (mmbbl) (bcf) (mmboe) Proved Producing 5.26 3.59 5.86 Proved Non-Producing 0.39 0.48 0.47…
McDaniel YE 2018 Reserves Review Net Present Value (Forecast Prices and Costs) Before Tax Present Value of Future Net Revenue (Forecast Prices and Costs) ( millions) Discount Factor 0% 5% 10% 15% Proved Producing 74.7 60.7 49.6…
McDaniel YE 2018 Price Forecasts Comparison of Oil/Gas History & Forecast Oil Price Forecast 120 History Forecast WTI Oil (US/bbl) WCS Oil (C/bbl) 100 80 60 40 20 0 2008 2013 2018 2023 2028 2033 WTI Oil (US/bbl)…
McDaniel YE 2018 Reserves Review Oil Production (PDP & P+PDP) McDaniel Oil Reserves & Production Characteristics RLI (yrs) & 2019 Decline Rate (%/yr) PDP * PDP P+PDP P+PDP * Team RLI (yrs) Decline RLI (yrs) Decline Alberta 7.9…
McDaniel YE 2018 Reserves Review Oil Development Forecasts Oil Production Forecast (Proved) Proved Non-Producing development 1800 includes repairs/reactivations in Bellshill 1600 Lake and Little Bow deferred from 2018 as Oil…
Net Asset Value Comparison McDaniel Year End 2018 Pricing NAV Calculation (Dec 31, 2018 Reserves) Proved + Prob. McDaniel Est. (BT DCF 10%) 83 million Undeveloped Land (internal evaluation) 2 million Deduct Net Working Capital &…
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