INVESTOR PRESENTATION Spartan Delta Corp. (SDE: TSXV) August 20, 2020
SPARTAN DELTA CORPORATE STRATEGY Building a Differentiated Energy Company for Global Investors Spartan intends to acquire a diversified portfolio of quality assets that can be restructured, optimized and rebranded, financially or…
COMPANY OVERVIEW Spartan Delta Corp. Capitalization (estimated as at close August 19, 2020) Spartan Delta Corp. TSX-V SDE Share Price(1) /sh 2.75 Market Capitalization (basic) (1) MM 159.8 Peace River Arch Charlie Lake Oil Focus…
RECENT TRANSACTION SUMMARY Acquisition of Substantially all Assets of Bellatrix Exploration Ltd. (BXE) from CCAA June 2020 Asset Summary 25,000 boe/d (30% liquids) of Spirit River and Cardium oil and gas production. Drayton Decline…
ACQUISITION RESERVES & INVENTORY Identified and Verified Greater Than 10 Years of Economic Drilling Inventory (1) Reserves Summary Reserve Volumes Reserve Value (BTax) Bellatrix reserves evaluated by InSite Petroleum Gas NGLs Oil…
SPIRIT RIVER TYPE CURVE & ECONOMICS Strong Single Well Economics at Strip Drive Compelling Full Cycle Corporate Returns Summary: 12 Spirit River Type Curve P90 (mmscf/d) Spirit River (Falher B / Notikewin) liquids-rich gas P50…
INFRASTRUCTURE Operated and Modern Infrastructure Footprint with Capacity to Grow Volumes Infrastructure in Central Alberta estimated at 200MM net value to SDE Working interest in three area gas plants (Alder Flats Plant is operated,…
MARKETING & RISK MANAGEMENT Acquisition Value Protected with AECO Hedges Commodity Exposure 100% AECO Risk Management Spartan is uniquely positioned with 100% exposure to Current Hedge Positions (Swaps) AECO pricing, and no economic…
INDIGENOUS PARTNERSHIP OCHIESE FIRST NATION First Nation Joint Venture Partners in Development and Day to Day Operations Spartan is pleased to begin what it hopes to be a long and prosperous relationship with the O'Chiese First…
SPARTAN SUSTAINABILITY Environmental, Social & Governance Environmental Spartan takes its commitment to the environment seriously and has implemented numerous sustainability tracking and reporting measures. Spartan intends to publish…
SPIRIT RIVER ASSETS Significant Position in the Deep Basin with Top Tier Well Economics Over 17 Tcf of original gas-in-place over 40 townships; over 5 Tcf on Spartan lands. Spartans core land position is situated in a…
CARDIUM ASSETS Low Risk, Repeatable, and Economic Drilling Inventory The Cardium is one of the largest oil accumulations in North America, estimated between 10-13 billion barrels of original-oil- in-place. West Pembina Spartan…
PEACE RIVER ARCH ASSETS Toe Hold Position in an Attractive Oil Weighted Fairway Located in the prolific Peace River Arch light oil fairway. The Charlie Lake is a semi-conventional light oil play delivering top-tier well economics…
SUMMARY Platform for Acquisitive Growth with Assets in Two Top-Tier Play Fairways Experienced management team that has repeatedly created shareholder value across all variations of the commodity cycle. Culture focused on…
ANALYST COVERAGE Institution Analyst Cormark Securities Garett Ursu Desjardins Chris MacCulloch Eight Capital Adam Gill National Bank Dan Payne Peters & Co. Dan Grager Raymond James Jeremy McCrea Stifel - FirstEnergy Cody…
MANAGEMENT TEAM & BOARD OF DIRECTORS MANAGEMENT TEAM Richard McHardy Former President, CEO and co-founder of Spartan Energy, Spartan Oil and Spartan Exploration Executive Chairman & Director Fotis Kalantzis Former SVP and co-founder…
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SPARTAN ENERGY SPARTAN OIL SPARTAN EXPLORATION Western Canadas Best-in-Class Performer: Proven Low-Cost Operator From 2010 through 2018, Spartan assembled and developed multiple high-quality assets throughout Central & Southern…
THE SPARTAN DOMESTIC ADVANTAGE Domestic Operational Track Record From 2014 to its sale to Vermilion Energy, Spartan Energy Managements ability to acquire and efficiently integrate assets established itself as the lowest cost operator in…
SPARTAN ENERGY 263% Total Return and 33% CAGR December 2013 May 2018 Overview Relative Performance (Indexed to 100) 300 Spartan Energy completed the recapitalization of Alexander Energy Spartan in December 2013 and shortly after…
HISTORICAL EV/DACF MULTIPLE COMPARISON Spartan Energy Corp. vs Premium Light Oil Peers (1) 16.0x Spartan Energy Corp. Light Oil Peer Avg. (2) 14.0x The Spartan management team has historically traded at, or above, the premium…
SPARTAN OIL 268% Total Return and 128% CAGR June 2011 January 2013 Overview Relative Performance (Indexed to 100) 250 Formed through the spin-out of certain Cardium assets and SE Spartan As a public company, Spartan Saskatchewan…
SPARTAN EXPLORATION 573% Total Return and 80% CAGR January 2010 May 2011 Overview Relative Performance (Indexed to 100) 250 Spartan Exploration was formed in Q1-2008 with a view of Spartan targeting tight oil resources plays in…
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