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August 2019 Corporate Presentation – Granite Oil Corp

Granite Oil Corp · Aug 12, 2019 · 18 slides

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Slides

  1. August 2019 Corporate Presentation – Granite Oil Corp – slide 1
    August 2019
  2. August 2019 Corporate Presentation – Granite Oil Corp – slide 2
    MARKET FACTS Trading Symbols TSX GXO OTCQX GXOCF Financial Highlights Market Capitalization (MM) As at closing 8/9/2019 24 Credit Facility (MM) 50 Net Debt (MM)* 42.8 *As at Q2 Unaudited Financials Common Shares Outstanding…
  3. August 2019 Corporate Presentation – Granite Oil Corp – slide 3
    WHOLLY OWNED, PURE PLAY, CONCENTRATED, LARGE OIL RESOURCE Large Alberta Bakken Oil Pool in a 30-mile, 80-section 100/14-21-003-16W4 oil fairway T10 Bakken Up To: GXO Upper Bakken Sand 14 m Thick 100% ownership and no competitive…
  4. August 2019 Corporate Presentation – Granite Oil Corp – slide 4
    HISTORICAL DRILLING AND RESERVE RESULTS HISTORICAL WELL RESULTS 500 2018 Average (2x200 m 1x400 m spacing) 400 2019 Well (400 m spacing) 300 Oil Production (bbl/d) 200 Average Spacing 100 400 m (2015) 200 m (2016) 110 m…
  5. August 2019 Corporate Presentation – Granite Oil Corp – slide 5
    GAS INJECTION EOR PROCESS GRANITE BAKKEN EOR BASICS Injecting gas in the top of the reservoir Increases/maintains reservoir pressure Adding gas to undersaturated oil Decreases viscosity and increases oil mobility Keeping the CO2 in…
  6. August 2019 Corporate Presentation – Granite Oil Corp – slide 6
    GAS FLOOD PERFORMANCE - ROTATIONAL RE-PRESSURIZATION PROGRAM OIL PRODUCTION TIME-NORMALIZED HISTORICAL PRODUCTION DATA COMBINATION OF HISTORICAL AND FORECAST DATA 700 604 Oil Production 600 520 474 (bbl/d) 455 500 402…
  7. August 2019 Corporate Presentation – Granite Oil Corp – slide 7
    ROTATIONAL RE-PRESSURIZATION PROGRAM CUMULATIVE PRODUCTION GAIN FORECAST PRODUCTION FROM WELLS PRIOR TO SHUT-IN VS. ACTUAL PRODUCTION FOLLOWING RE-INITIATED PRODUCTION 140,000 Actual Production from Re-Initiated Wells Forecast…
  8. August 2019 Corporate Presentation – Granite Oil Corp – slide 8
    CREATING EQUITY VALUE IN A CHALLENGING ENVIRONMENT SIGNIFICANT INCREASE IN EQUITY VALUE WITH DEBT REDUCTION Reducing debt by approximately 13 million from year end 2018 provides a 54% increase in equity value by Q2 2020 at current…
  9. August 2019 Corporate Presentation – Granite Oil Corp – slide 9
    REDUCING COST STRUCTURE STREAMLINING COSTS Operating and cash costs are forecast to total 22% in gross quarterly reductions by Q2 2020 Operating costs dropping with optimization and material gas sourcing initiatives G&A costs dropping…
  10. August 2019 Corporate Presentation – Granite Oil Corp – slide 10
    TOP-TIER WELL ECONOMICS STRONG ECONOMICS Proven well productivity, 100%-owned facilities and infrastructure with extensive capacity provides strong torque on drilling results GXO TYPE CURVE ECONOMICS (4) 400 Category* Freehold…
  11. August 2019 Corporate Presentation – Granite Oil Corp – slide 11
    SIGNIFICANT DRILLING INVENTORY GO-FORWARD DEVELOPMENT PLAN LONG-TERM, SLOW GROWTH MODEL 83 potential Bakken well locations on 200 m offset spacing(3) Drilling 4 wells per year allows for 20 years of future development A…
  12. August 2019 Corporate Presentation – Granite Oil Corp – slide 12
    Recovery Factor (%) *Sproule Oil Production (mbbl/d) Oil Production (mbbl/d) Gas Production G R A2012 20% 40% 60% 80% 100% 0% (mmcf/d) Gas Production (mmcf/d) Injected Injected (mmcf/d) Gas(mmcf/d) Gas…
  13. August 2019 Corporate Presentation – Granite Oil Corp – slide 13
    SUMMARY Large Oil-in-Place 33 section delineated oil pool in a 30-mile, 80-section oil fairway Early Life Cycle Only recovered 2.5% to date(2) Efficient Recovery Formula 228 MMbbls of OOIP(1) under an effective gas injection…
  14. August 2019 Corporate Presentation – Granite Oil Corp – slide 14
    CONTACT INFORMATION Investor Inquiries: Michael Kabanuk President and CEO Office: 587.349.9123 mkabanukgraniteoil.ca Address: Jamieson Place 3230, 308 4th Avenue SW Calgary, AB T2P-0H7 24 Hour Emergency Number:…
  15. August 2019 Corporate Presentation – Granite Oil Corp – slide 15
    ENDNOTES 1. This estimate of Original Oil-in-Place (OOIP) was internally generated by management for the area currently approved by the Alberta Energy Regulator for Enhanced Oil Recovery by Gas Injection and represents managements…
  16. August 2019 Corporate Presentation – Granite Oil Corp – slide 16
    Appendix
  17. August 2019 Corporate Presentation – Granite Oil Corp – slide 17
    HEDGES / TAX POOLS HEDGING SUMMARY TAX POOL SUMMARY Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 WTI HEDGES TAX POOL CATEGORY AMOUNT (MM) USD Volumes -- 200 600 400 100 COGPE 0.6 USD Average Pricing -- 62.85 58.91 60.78 60.15 CDE…
  18. August 2019 Corporate Presentation – Granite Oil Corp – slide 18
    RESPONSIBLE OPERATOR Produced solution gas containing 25% CO2 is recycled and reinjected into the reservoir, diverting an estimated 18,900 tons of CO2 from CO2 the atmosphere per year - improving oil recovery Reduced Emissions…

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