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1Q 2020 Earnings Presentation – Hemisphere Energy Corp

Hemisphere Energy Corp · May 19, 2020 · 16 slides

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Slides

  1. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 1
    May 2020
  2. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 2
    Who is Hemisphere Conventional heavy oil producer of low decline waterflood pools Q1 2020 average production 1970 boe/d (99% heavy crude oil and 1% conventional natural gas) Southeast Alberta Focus JENNER ATLEE BUFFALO…
  3. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 3
    The Hemisphere Strategy Creating shareholder value with sustainable growth... Grow Production and Reserves 220% production growth since accessing capital with a term loan facility in Sep 2017 Approximately 70% PDP valuation growth…
  4. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 4
    2019 Highlights A record year Cash flow, Production and Reserves Grew annual production year over year by 50% to 1,665 boe/d (97% heavy crude oil & 3% conventional natural gas)* Generated revenue of 31.5 million, a 77% increase over…
  5. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 5
    Snapshot TSX Venture HME Share Price (May 11, 2020) 0.12 52 Week Range 0.05 - 0.22 Basic Shares Outstanding 88.6 MM FD Shares Outstanding 109.4 MM Insider Ownership (Fully Diluted) 27% Market Cap / Enterprise Value* 10.6 MM / 42.6…
  6. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 6
    Strong Production Growth Sep 2017: Refinanced with 5-year term loan and started active development 2500 30 25 2000 Boe/d per million shares 20 1500 Boe/d 15 1000 10 500 5 0 0 Production Production per…
  7. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 7
    Reserve & Value Growth 15.0 250.0 2.64 2.75 14.0 Reserves* NPV10 BT* 15% Organic growth in 20% Growth 2P 2.50 13.0 2P reserves in 2019 Per share in 2019 2.21 36.3 2.25 12.0 200.0 11.0 2.3 2.00 2P 10.0 55.6 1.75 9.0 3.0…
  8. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 8
    A Changing Debt Story 40,000 2,500 35,000 Annualized Funds Flow, Net Debt (M) 30,000 2,000 25,000 Production (boe/d) 1,500 20,000 15,000 1,000 10,000 5,000 500 0 Q118 Q218 Q318 Q418 Q119 Q219 Q319 Q419 -5,000 0…
  9. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 9
    The Bottom Line 70.0 60.0 Funds Flow: Revenue, Costs, and Resulting Funds Flow (/boe) Revenue 46% 50.0 Production Sales Revenue 40.0 Opex/trans Royalties 30.0 Hedging / FX loss Net G&A 20.0 Loan Interest Funds Flow…
  10. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 10
    Atlee Buffalo: Growth Opportunity o F Pool G POOL 31 MMbbl OOIP* 5% current oil recovery factor o G Pool 40 MMbbl OOIP* 5% current oil recovery factor o Working Interest 100% in both pools o Excellent Geological Control Oil pools F…
  11. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 11
    Atlee Buffalo: Development Plan G POOL 2019 Accomplishments Drilled 11 wells Expanded G pool facilities to handle increased oil production F POOL New wells onstream with stabilized corporate production of 2000 boe/d Continue to…
  12. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 12
    Atlee Buffalo: Reserve Upside Potential 2P Booked Potential Additional Cumulative Reserves as at (Unbooked) Reserves Pool OOIP* Production to-date December 31, 2019 At Various RF*** (MMBbl) (MMBbl) (MMBbl) (MMBbl) 25% 35% 45% Upper…
  13. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 13
    Risk Mitigation: Hedge Book Product Type Volume Price Index Term Crude oil Swap 425 bbl/d US55.85 WTI-NYMEX April 1, 2020 June 30, 2020 Crude oil Swap 750 bbl/d US23.80 WTI-NYMEX April 1, 2020 June 30, 2020 Crude oil Swap 100 bbl/d…
  14. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 14
    The Hemisphere Investment Assets for Growth High rate of return projects with production and reserve growth through strategic low- risk, minimal capital expenditure, and fast payout projects Multi-year, low-risk drilling inventory in…
  15. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 15
    Leadership Team Management Don Simmons, P.Geol. President & Chief Executive Officer Over 19 years of experience technical, operational and management experience (Alberta Energy Company, Encana, Sebring) Board of Directors Ian…
  16. 1Q 2020 Earnings Presentation – Hemisphere Energy Corp – slide 16
    Don Simmons, President & CEO Telephone: 604.685.9255 Email: simmonshemisphereenergy.ca Suite 501 905 West Pender Street Vancouver, British Columbia V6C 1L6

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