Building a Reserve Base In The Liquids Rich Montney Formation Canada May 2019 Alan Stein Managing Director ASX:CE1
DISCLAIMER This presentation has been prepared by Calima Energy Limited (Company), based This presentation is presented for informational purposes only. It is not intended on information available as at the date of this presentation. The…
2 SNAPSHOT Predicted a northern extension to the liquids rich Montney fairway in NE BC. Built a 72,000 acre land position and drilled three wells, validating prediction. Assembling the building blocks for future development while…
3 INTRODUCTION TO CALIMA Capital Structure Ordinary Shares 1,444 M Kitimat Management Perf. Equity(1) 55.5 M LNG Market Capitalisation(2) 40 M Cash & Securities(3) 9.0 M Shareholders Calima Lands Institutions 21.15%…
ROADMAP FOR OUR BUSINESS Built a 72,000 acre Montney land position in NE BC Drilled 3 wells to prove extension of liquids rich Montney fairway Well performance matches or exceeds adjacent Operators Initial rate 1,600 boepd…
5 WESTERN CANADA - POISED FOR GROWTH THROUGH LNG Strong demand for condensate in western Canada - pricing close to WTI. International Energy Agency predicts global natural gas consumption to grow by 45% over the next 25 years.…
BUILDING BLOCKS TO NAV GROWTH Calima assembling the building blocks of a world- Connect to Enbridges Tommy Lakes infrastructure via a 20 class development project creating value with km pipeline. minimal dilution to deliver a pathway to…
DRILLING THE ANALOGUE Montney Producers Ranked by IRR per Well(3) Saguaro Type Curves(1) Saguaro Resources has drilled more than 60 wells in the acreage immediately adjacent to Calima(1) Saguaro results provide a direct analogue…
9 RESERVES REPORT UPDATED JUNE 2019 McDaniel & Associates have been commissioned to update Key Strategy the March 2018 reserves report(2). Reserves and Resource Growth Expected June 2019. Drilling results suggest there will be a…
10 OPERATIONS Drilled 9,353 m of rock Pumped 55,000 m3 of water Injected 7,830 tonnes of frac sand Camp 7,000 nights Catered 21,000 meals Drank 4,000 litres of coffee Managed 500 truck heavy movements Calima-1 - Vertical…
Drilling programme met or exceeded expectations. Updated reserve report June 2019. The building blocks for an 8,000 boepd development plan can be put in place with limited additional investment. Plan to use existing wells to finance…
Contact us: Calima Energy Limited twitter.com/CalimaEnergy 1A /1 Alvan Street, Subiaco WA 6008, Australia linkedin.com/company/calima-energy.com Tel: +61 8 6500 3270 Fax: +61 8 6500 3275 facebook.com/CalimaEnergy infocalimaenergy.com…
APPENDIX ONE DRILLING RESULTS 13
2019 DRILLING Horizontal NW Upper Horizontal SE Upper Core Interval Calima-3 Calima-2 Calima-1 Drilled 1 x vertical well and 2 x horizontal well. Collected core and wireline logs over the whole Montney section.…
CALIMA-1 VERTICAL WELL Demonstrated that the Montney geology across the Calima Lands is very similar to Saguaros. Presence of gas and condensate confirmed by laboratory analysis of core samples. Porosity and hydrocarbon…
DRILLING PERFORMANCE Time vs Depth Relationship with CWL Energy provides operations support. CWL has experience with most other Operators in the region. Permitting. Stakeholder relationships. Site construction. Calima-2…
17 PRODUCTION TESTING CALIMA-2 Results Maximum gas rate 10.2 mmcf/d Maximum liquid rate 151 bbl/d at gas rate of 8.4 mmcf/d In analysing the results Michael Morgan, Director of Analytics at GLJ Petroleum Consultants in…
18 LOG ANALYSIS PEER GROUP COMPARISON Log analysis of peer group wells highlights the superior reservoir parameters encountered at Calima-1 at all Montney intervals specifically Porosity and Hydrocarbon Saturation. Porosity is a…
19 CONDENSATE GAS RATIO CALIMA-2 Calima-2 Variation In Condensate Gas Ratio(1) While Testing After the initial clean out period the condensate gas ratio (CGR) climbed steadily. This is in-line with other wells in the area where…
20 OIL SATURATION CORE ANALYSIS CALIMA-1 Core analysis shows that the Calima-1 well has higher oil saturations than cores collected from adjacent wells(1). Oil saturations of up to 59% (Upper Montney) and 64% (Middle Montney)…
CALIMA-2 - PEER GROUP IP 30 AND CGR RESULTS IP30 Gas vs Condensate Gas Ratio Calima-2 Test Results Wells within 50 km of Calima sourced from IHS Accumap Public domain data from wells within a 50 km radius of Calima show variation…
CALIMA-3 OFF TO A STRONG START Cumulative Production Calima-2 & 3 Test Results Calima-3 started flowing at a faster rate than Calima-2. Sand blockages were cleared using coiled tubing in the normal manner. Warm weather resulted…
GAS ANALYSIS The adjacent Operator report that liquids recovered at the well- head account for approximately half of the total recovered liquids. These well-head liquids are dominated by Condensate/light oil (C5+). A comparable…
24 ORIGINAL MAPPING Liquids Yield Regional Mapping (2014) Calimas original sweet spot mapping in 2014 predicted liquids potential in the north, beyond the known limits of the Montney play. Calima built a land position in the north.…
25 2019 DRILLING (1) (2) (3) Matches offset operator Exceeds offset operator Calimas 2019 drilling (1 x vertical, 2x horizontal) demonstrated that the prospectivity encountered by Saguaro extends into the Calima…
APPENDIX TWO 2018 RESERVE AUDITORS REPORT 26
APPENDIX 1 - RESOURCE AUDIT BY MCDANIEL & ASSOCIATES (1) Calima Calima Lands McDaniel estimates based on 400 locations using 70% of available drainage Lands Gross area. Net Assumes a two layer development of Upper and Lower…
APPENDIX THREE HISTORY, BOARD & MANAGEMENT 28
CALIMA BOARD Alan Stein Jonathan Taylor Managing Director Technical Director Dr Stein has more than 30 years experience in the international oil Mr Taylor has more than 30 years experience in the international oil and gas industry. He…
CALIMA MANAGEMENT Mike Dobovich Justin Norris Country Manager (Canada) Montney Sub-Surface Project Leader Mr Norris is a geophysicist with over 20 years of experience in the Mr Dobovich has over 20 years of experience in the oil and…
31 CALIMA HISTORICAL PATHWAY 2014-2016 2017 2018 2019 (Q1) Remapping the liquids Fold the farmin deal into Construction of drilling pad. Drill one vertical and two potential of the Montney by Azonto Petroleum horizontal wells. TMK…
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