April 2020 Investor Presentation – Tamarack Valley Energy Ltd.

Tamarack Valley Energy Ltd. · Apr 15, 2020 · 15 slides

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Slides

TVE : TSX Creating Sustainable Value April 2020 See Disclaimers and Forward Looking Statements attached
Corporate Snapshot (TSX: TVE) Corporate/Market Summary (as at Apr 15/20) Market capitalization (F.D.)(1) (mm) 120 Enterprise value(1) (mm) 345 Bank Line (mm) 350 % Drawn 63% Tax Pools (mm) 859 P+P Reserves (mmboe)(2) 101.6…
The Tamarack Advantage Duration through Sustainability and Balance Sheet Strength Defensive yet flexible capital program Balance Sheet Strength Industry leading balance sheet strength Ample liquidity / capacity on bank line…
Environment, Social & Governance Tamarack remains a committed & responsible steward of nature, people and shareholder capital Environment 98% of all gas production conserved in 2019 Fresh water use in 2019 from the 3 waterflood…
Updated Disciplined 2020 Capital Program Fully funded program down to low 30/Bbl WTI environment Reduced capex by 40% with production down 8% from previous guidance 70% of capex spent in Q1 provides flexibility on go-forward spend…
Duration in Dynamic Pricing Environment Corporate Breakeven Prices & Industry Leading Balance Sheet Peer Evaluation: 2020 Net Debt / CF vs. E&D Capex + Dividends/CF (1),(2) Forecast 2020 Free Adjusted Funds Flow(2) by Oil Price for…
Risk Management Current Hedges 54% Adding stability in a volatile 40-50% Oil price protection H1/20 commodity price environment Target oil hedging for 2020 Oil Hedging Summary(1) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Proportion of…
Decreasing Corporate Declines(1) 30,000 41% Base Decline 38% Base Decline 37% Base Decline 23-26% Forecast 34% with WF Decline 25,000 20,000 BOE/D 15,000 2,923 10,000 bbls/d 5,000 0 2018 2019 2020 2021 Base…
2020 Budget - Veteran WF Forecast (Updated Budget) Forecast Actuals 4,000 2020 Budget Capital Efficiency(1) using peak rate of 2,150 bopd 3,500 (May 2021) - 18,600/bopd 3,000 2,500 WF Oil Rate (bb/d) Current Production…
Sensitivity(1) - 2020 Updated Budget Base Production: 22,000 boepd (midpoint of guidance) WTI (US/Bbl) - remainder of year 20 30 40 50 FX (USD/CAD) 0.69 0.71 0.74 0.77 US MSW/WTI Differential (/Bbl) 7.50 7.50 7.50 7.50 AECO (Cdn)…
Investment Summary Track Record of Meeting & Exceeding Estimates Sector Disciplined Operational Improving Leading Capital Execution Sustainability Balance Sheet Allocation Focus on…
TVE : TSX Appendix
Variable Opex Shut-In Analysis(1) 100% 90% 80% 70% Percentage of Corp Production 60% 50% 40% 30% 20% 10% 0% 0.00 2.00 4.00 6.00 8.00 10.00 12.00 14.00 16.00 18.00 20.00 Break-even Price Edm (CDN)(2) TVE…
Independent 2021 WTI Break Even Analysis(1) 2021E WTI (US/B) 70 Cash Flow Equal to Zero 60 Cover Sustaining Capital Cover Sustaining Capital Plus Dividends 50 40 30 20 10 Current WTI Price: US23-24/B 0 PXT TVE TOG…
Veteran Waterflood Activity Total OOIP 2018/19 Pilot Program 1,004 mmbbl Currently producing over 1,000 bbls/d 2019 Fall Expansion from < 4 sections Reserve 2020 Forecast Devt Booking West Veteran Internal Estimate(1) 0.9%…

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