60.3 million 4,642 boe/d Funds raised at 4.00/share Q4 Production March 2014 70 / 74 million 94% Q4 heavy oil Basic / diluted common shares March 2014 16.72/boe 10% / 15% Q4 Operating cost including transportation Insider…
Cold flow, pure play, conventional, low cost, low risk heavy oil growth company Focused Heavy Oil EOR Multiple assets with successful analogs Operator Two current secondary recovery pilots 80% Horizontal production Low Costs Low…
Estimated WTI USD Cash Flow 100 69MM 90 63MM 80 58MM Assumptions 22.5% WCS diff 0.90 CDN FX Gear Oil WCS-5CDN 5,000 boe/d 20% Royalties 18.00 Op costs 3.60 G&A 0.60 Interest Post Hedging Cash flow metric shown is the non- GAAP…
Gear is close to the lowest cost heavy oil operator in the basin, providing very competitive cash flow 16.72/boe Gear Q4 Source: Gear Q3 MD&A, and comparable company SEDAR filings 6
YE 2013 Reserves & Net Present Value of Future Revenues Discounted at 10% under forecasted prices and costs 249% Production replacement for 2013, P+P 42% P+P NPV10 reserves value growth from 2012 to 2013, 31% per DA share…
3 Year Continuous improvement in finding costs and recycle ratios 17.84/boe 2013 P+P FD&A including change in future development costs 32.38/boe 2013 Operating netback 1.8 2013 P+P recycle ratio 8
63/bbl Q4 2013 Estimated Gear oil price 80+/bbl Current strip estimate 2014 Gear oil price Pricing Maximized by railing plus competitive & creative marketing strategies Outlook Price forecast based on April 1, 2014 forward…
Heavy oil and horizontal expertise demonstrated across concentrated assets 230 future net oil drilling locations currently recognized 4,600 boe/d corporate production Q4 2013 25 Wells drilled in Q1 with 88% success (Gear budget…
Wildmere Lloyd 41 undeveloped wells booked by GLJ - Dec 31, 2013 18 wells planned to drill in 2014, 5 drilled in Q1, 1 D&A 65 potential wells currently recognized in inventory Wildmere Lloyd sand channel IP30 Rate 70 bbl/d…
10% Estimated Wildmere HSE initiated primary recovery factor waterflood Sept 2013 Waterflood pilot 20% January 2013 Estimated analogue recovery factor under vertical waterflood Polymer pilot Sept 2012 Q1-2014 Estimated…
Wildmere Cummings Production Wildmere Cummings Production improved with new completion on recent wells 15 undeveloped wells booked by GLJ - Dec 31, 2013 5+ wells planned to drill in 2014, 4 drilled in Q1 65 potential wells currently…
Maidstone Cummings Maidstone Cummings Average Production/well 26 undeveloped wells booked by GLJ - Dec 31, 2013 14 - 16 wells planned to drill in 2014, 8 drills in Q1, 1 D&A 35 potential wells currently recognized in inventory IP30…
Maidstone Cummings Husky Section 23 Waterflood Offset waterflood Application targeting 30% recovery factor Early data shows material production response Production built to historic peak levels after four months of injection (50m…
46 million Development drilling & recompletions 5 million EOR commercialization 14 million Land, seismic and exploration 5 million Facilities, maintenance and abandonments 70 million Drill 55 net wells (59 Gross) Other 16-18…
Executive Experience Ingram Gillmore VP Engineering - ARC Energy Trust, Talisman President & CEO, Director Yvan Chretien VP Land - ARC Energy Trust, CNRL VP Land Tom Everest Manager Engineering - Black Mountain, Sound,…
Analyst AltaCorp Don Rawson Cormark TBA First Energy Bob Fitzmartyn GMP Aaron Swanson Haywood Securities Dan Tsubouchi MGI Securities Michael Charlston Paradigm Ken Lin Peters and Co. Dale Lewko RBC Mark Friesen 18
Gear Energy Ltd. 2600, 500 4th Avenue SW Calgary, AB CANADA T2P 2V6 T (403) 538-8435 F (403) 705-2660 www.gearenergy.com 19
Loading...
