TVE : TSX Creating Sustainable Value September 2020 See Disclaimers and Forward-Looking Statements attached
Corporate Snapshot (TSX: TVE) Corporate/Market Summary (as at September 9/20) Market capitalization(1) (mm) 174 Enterprise value(1) (mm) 376 ALBERTA SASKATCHEWAN Bank Line (mm) 275 % Drawn 74% Tax Pools (mm)(2) 859 VIKING OIL…
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 US40/Bbl WTI while generating Free Adjusted Funds Flow(2) WTI (US/Bbl) - remainder of year(3) 20 30 40 50 FX (USD/CAD) 0.76 0.76 0.76 0.76 US MSW/WTI Differential (/Bbl)…
Duration in Dynamic Pricing Environment Low 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…
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 5,000…
Risk Management Current Hedges 45% Adding stability in a volatile (2) 50-60% (3) Oil price protection 2020 commodity price environment Target oil hedging for 2020 Hedging Summary(1) Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021…
Nat. Gas/Liquids-Rich Multi-Zone Drilling Inventory Taking advantage of stronger natural gas prices to enhance full cycle economics 77 Gross (54 net) high-quality drilling locations identified in the Cardium and Spirit River…
West Central AB Nat Gas/Liquids-Rich Economics(1) Falher Type Curve (2) Cardium Type Curve (2) 1,200 1,200 1,000 1,000 800 800 BOE/D BOE/D 600 600 400 400 200 200 0 0 0 6 12 18 24 0 6 12 18 24 MONTHS MONTHS Falher…
Veteran Waterflood Wedge Building sustained long-term, high-netback, low-decline oil production BASE WF 2020 WF Drills Actuals 3,500 2021 Exit: 2,975 bopd 3,000 2020 Capital Efficiency using peak rate of 1,800 bopd -…
East Veteran Waterflood Performance - 200m Patterns from 2018 and 2019 Average Waterflood Pattern Performance - 2018 Pilot (200m Spacing, 12-19 Pad) 250 Oil Rate Per Well (bbl/d) Peak Oil Rate 200 150 bbl/d Average well…
Veteran Waterflood ONLY 5+ Year Plan Update; Building Long-Term Free Cash Flow Growth Waterflood Production 8,000 Veteran Waterflood ONLY included in capital / production (excludes 7,000 existing primary base production and future…
Waterflood Development Runway Internal Estimate(2) Waterflood 11% Remaining Primary 4% Recovered to Date 2% Estimated Ultimate Recovery 17% 2018 Drills 2019 Drills 2020 Drills 1) See Oil and Gas Advisories 2) Internal…
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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