TVE : TSX Creating Sustainable Value August 2020 See Disclaimers and Forward Looking Statements attached
Corporate Snapshot (TSX: TVE) Corporate/Market Summary (as at August 11/20) Market capitalization(1) (mm) 226 Enterprise value(1) (mm) 434 Bank Line (mm) 275 % Drawn 76% Tax Pools (mm)(2) 859 P+P Reserves (mmboe)(3) 112.3…
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…
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(3) 20 30 40 50 FX (USD/CAD) 0.73 0.73 0.73 0.73 US MSW/WTI Differential (/Bbl)…
Duration in Dynamic Pricing Environment Corporate Breakeven Prices & Industry Leading Balance Sheet Forecast 2020 Adjusted Funds Flow(3) in Excess of Minimum Unhedged Oil Price Required to Sustain Budgeted Capital(1) by Oil Price…
2021 Stay Flat Scenario Improving Declines while Maintaining Production BASE WATERFLOOD 2020 DRILLS/ACQUISITIONS 2021 DRILLS 30,000 25,000 20,000 2021 BOE/D 15,000 2020 + Acquisitions Waterflood 10,000 Base…
Risk Management Current Hedges 45% (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…
Veteran Waterflood Wedge Building sustained long-term, high netback, low decline oil production BASE WF 2020 WF Drills Actuals 3,500 2021 Exit: 2,993 bbl/d 2019 Capital Efficiency using peak rate of 800 bopd 34,100/bopd 3,000…
Veteran Waterflood Activity Total OOIP(1) 2018/19 Pilot Program 1,004 mmbbl Currently producing 1,000 bbls/d 2019 Fall Expansion from < 4 sections Reserve 2020 Forecast Devt Internal Estimate(2) Booking West Veteran Waterflood…
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…
TVE : TSX Appendix
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…
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…
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