TVE : TSX Creating Sustainable Value July 2020 See Disclaimers and Forward Looking Statements attached
Corporate Snapshot (TSX: TVE) Corporate/Market Summary (as at July 9/20) Market capitalization(1) (mm) 191 Enterprise value(1) (mm) 409 Bank Line (mm) 275 % Drawn 79% Tax Pools (mm) 859 P+P Reserves (mmboe)(2) 112.3 Revised 2020…
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…
Indigenous Partnerships Kainaiwa First Nation Tamarack is partnered with the Kainaiwa First Nation in Southern Alberta on its emerging Banff light oil play Tamarack is committed to building a strong working relationship with the…
West Central Alberta Asset Acquisition Summary Production & Cash Flow Metrics Total Net Consideration (MM) 4.25 MM Estimated Production (at closing) 2,500 boe/d % Oil & NGLs 52% Decline Rate 13% Annual Net Operating Income(1),(2)…
Asset Acquisition Highlights Low decline, stable production base of 13% further enhances Tamaracks overall sustainability and free adjusted funds flow profile into 2021 and beyond Consistent with Tamaracks strategy to develop a…
Sensitivity(1) July Budget Strong Balance Sheet of 1.5x at sub US40/Bbl WTI while generating Free Adjusted Funds Flow(2) WTI (US/Bbl) - remainder of year 20 30 40 50 FX (USD/CAD) 0.73 0.73 0.73 0.73 US MSW/WTI Differential (/Bbl)…
Risk Management Current Hedges 46% (2) Adding stability in a volatile commodity price environment 50-60% (3) Oil price protection 2020 Target oil hedging for 2020 Hedging Summary(1) Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021…
Duration in Dynamic Pricing Environment Corporate Breakeven Prices & Industry Leading Balance Sheet Forecast 2020 Adjusted Funds Flow(3) in Excess of Budgeted Capital(1) Minimum Unhedged Oil Price Required to Sustain Production(2)…
2020 Budget - Veteran WF Forecast 3,000 2017/18 Capital Efficiency(1) using peak rate of 500 bopd (Jan 2020) - 57,400/bopd 2019 Capital Efficiency(1) using peak rate of 800 bopd (Dec 2020) - 34,100/bopd 2,500 2020 Budget Capital…
Investment Summary Track Record of Meeting & Exceeding Estimates Sector Disciplined Operational Improving Leading Capital Execution Sustainability Balance Sheet Allocation Focus on Decreasing 1.5x on Updated Costs Full-Cycle…
Veteran Waterflood Activity Total OOIP(1) 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(2) 0.9%…
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