CORPORATE SUMMARY Basic shares outstanding (7% insider ownership) 137 MM (1)(3) Options 14 MM Performance warrants (2)(3) 32 MM Fully diluted shares (25% insider ownership) 183 MM Current credit facilities 100 MM Net working…
FINANCIAL PERFORMANCE PRODUCTION & FUNDS FLOW Stable production from Q1 drilling Increase in funds flow due to adds; moderated by deferral of reduction in opex/transportation planned June drilling into July (due to and increase in…
FINANCIAL PERFORMANCE NETBACK & OPEX Netback increase from production Continued reduction in operating growth and decreasing /boe expenses due to increased pipeline opex/transportation combined connectivity and declining with…
VIKING OIL FAIRWAY Halkirk / Alliance / Brownfield Monitor/Altario Kerrobert Veteran / Hamilton Lake Dodsland Source: Karve Energy Inc See Reader Advisories Oil and Gas Information 6
PRODUCTION HISTORY Source: Karve Energy Inc See Reader Advisories Oil and Gas Information 7
ASSET OVERVIEW Halkirk/Alliance/ Brownfield Monitor/Altario Veteran/ Hamilton Lake 8
KARVE RESULTS VS SPROULE TYPE CURVE Source: Karve Energy Inc. See Reader Advisories Oil and Gas Information 9
KARVE TYPE WELL DRILLING ECONOMICS SPROULE TIER 5 Sproule Tier 5 - 100% CROWN - 7 US DIFFERENTIAL WTI FX WTI Capex EUR BT NPV 10 IRR Payout US/bbl US/CDN CDN/bbl M/Well Mbbl M % Months 45 0.77 58.44 890 50 157 21% 38 50 0.77 64.94…
VETERAN / HAMILTON LAKE ASSET OVERVIEW Karve Land Viking Petroleum Unit Veteran Waterflood Veteran Waterflood Exp. Source: IHS AccuMap; Karve Energy Inc See Reader Advisories Oil and Gas Information 11
VETERAN WATERFLOOD REVIEW Cum INJ 5.7 MMstb Cum Oil 2.4 MMstb Daily Oil 500 bbl/d WCT 45% Decreasing GOR GOR 500 scf/bbl Source: IHS AccuMap; Karve Energy Inc See Reader Advisories Oil and Gas Information 12
VETERAN WATERFLOOD REVIEW CONTD Increasing oil production Decreasing Gas/Oil Ratio Source: IHS AccuMap; Karve Energy Inc See Reader Advisories Oil and Gas Information 14
HALKIRK / ALLIANCE / BROWNFIELD ASSET OVERVIEW Karve Land Brownfield Gas Unit Active waterflood Pot. 2019 Expansion Recently acquired waterflood 2.5 section active waterflood recently acquired 2 to 4 section waterflood…
HALKIRK / ALLIANCE / BROWNFIELD WATERFLOOD Karve Land Active Waterflood Pot. 2019 Expansion 1 2 1 2 1 2 Waterflood pilot with 1 vertical injector implemented in 2011; second vertical added in 2012 Expanded to include 3…
HALKIRK / ALLIANCE / BROWNFIELD WATERFLOOD GROUP 2 PERFORMANCE Daily Oil 300 bbl/d GOR 6,000 scf/bbl Daily Oil 4 bbl/d Source: IHS AccuMap; Karve Energy Inc See Reader Advisories Oil and Gas Information 17
HALKIRK / ALLIANCE / BROWNFIELD WATERFLOOD GROUP 1 PERFORMANCE Daily Oil Cum INJ 473 Mstb 250 bbl/d Decreasing GOR Cum Oil 85 Mstb Daily Oil 25 bbl/d GOR 400 scf/bbl WCT 30% Source: IHS AccuMap; Karve Energy Inc See…
MONITOR WATERFLOOD EXPANSION 8.5 sections approved for waterflood; additional section to be added by YE 2019 11 wells currently injecting; 11 additional wells to be converted to injection by YE 2019 Source: IHS AccuMap; Karve Energy…
CORPORATE WATERFLOOD RESULTS WFLD EUR 80+ Mstb Source: IHS AccuMap; Karve Energy Inc See Reader Advisories Oil and Gas Information 20
KARVE WATERFLOOD POTENTIAL 2,000 gross sections of land Over 135 sections of waterflood potential (6% of total land base) 30 sections under waterflood by YE 2019 Over 1 billion barrels of Original Oil in-Place Low RF to date…
KARVE WATERFLOOD POTENTIAL Over 725 gross undrilled locations within future waterflood areas Source: IHS AccuMap; Karve Energy Inc See Reader Advisories Oil and Gas Information 22
HIGH GROUND RESERVE SUMMARY (KARVE INTERNAL) High Ground reserves as per Karve Internal mid-year technical update (Sproule June 30, 2019 price deck and August 1, 2019 effective date) WI Oil BTAX Wells WI Oil WI Gas WI NGLs Equiv…
2019 PRO FORMA BUDGET AND OPERATIONS Current production of 10,100 BOE/d; 6,412 bbl/d liquids, 22.2 MMcf/d gas (includes acquisition of High Ground) Maintain a cash-flow budget Total capital program of 80.0 MM (excluding A&D), down…
OFFICERS: DIRECTORS: Bob Chaisson Chief Executive Officer Don Engle Chairman and Independent Director Derek Kreba President Bob Chaisson Karve Energy CEO Ken McNeill Executive Vice President, Corporate Development Howard Crone…
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