VALUE I GROWTH I INNOVATION Corporate Update Glen Schmidt President and CEO April 25, 2014
Laricina Advantages Third largest pure play holder of oil sands resource in Canada(1) Significant, High Quality In 540,000+ bbl/d net production potential, with medium term target of 42,500 bbl/d net Situ Asset Base 3.9 bn of…
Corporate Profile Capitalization (March 18, 2014) Basic 67.8 million shares Officer & director ownership(1) 5.3% of basic Fully diluted 73.4 million shares December 31, 2013 working capital 143.3 million Credit Facility 15 million…
Significant Resource Base Concentrated operations at Germain and Saleski in close proximity to transportation infrastructure Assets outside of Germain and Saleski offer inventory for future growth Innovation to enhance value, a…
Financial Flexibility Working capital at December 31/13 143 million, additional 150 million from recent debt issuance provides financial flexibility Laricina has limited current spending 2014 Cash Capital and Operating commitments…
Germain Commercial Demonstration Project (CDP) Area: 44,161 acres, 100% w.i. Began steaming in June 2013, initial 2P Best Estimate Project Design Reserves Contingent Capacity conversion to production in September Formation (bn…
8 Germain CDP Operational Update Steady operation has been achieved, production ramping up as wells continue to convert from conditioning to production Planned debottlenecking shut down SL Slotted Liner WW Wire Wrap - two to…
Germain CDP Well Status Well Pairs - 3, 5, 6 3 5 6 Production (producer below Conditioning Conversion - Dev. Bit flow Solvent/Gas Co-inj. basal water) Ramp up 7 10 8 9 Well Pairs - 7, 8, 9, Production 10 (producer above…
Saleski 2P Reserves Best Estimate Project April 2012 Contingent Design Formation (net bn bbl)(1) Resources Capacity (net bn bbl)(1) (gross bbl/d)(1) Grosmont 0.1 1.5 312,500 2C well continues to perform and demonstrate…
Saleski Pilot Operational Update 1C sidetrack well achieving expectations First production achieved in February 2014 following first block steaming of 1C and 2C wells Drilled new D well into undisturbed reservoir using next…
Pilot: 1C Sidetrack Well Result Drilled into heated reservoir, well bore is 60% longer than 2C (700m) Drilled balanced, using foam, and completed open hole Successfully managed pressure while drilling by injecting steam into 2C…
1C Sidetrack Performance/Forecast Forecasting cycle SOR 1.7-2.4 and CDOR 200-290 bbl/d (note: not a full steam cycle prior to start of production and well unstimulated) Matrix acid stimulation * program being developed Will…
2C Performance/Forecast Basing Saleski Phase 1 well design Temperature trend has not fallen materially post-block on 2C well performance steaming Currently forecasting cycle SOR * 3.1 and CDOR 230 290 bbl/d from a 450 m well…
Pilot: 1D Cycle Performance D zone reservoir quality (even from vintage well design) yields high well deliverability and confirms conservative production forecast for the D zone for Pump change commercial phases Heat from steam…
Future Development: Concept Start with cyclic convert to continuous: Cyclic-to-Continuous SAGD (C2C-SAGD) April 25, 2014 NEXT STEPS 16
Saleski Phase 1 Commercial Plan Grosmont initial projections: C-SAGD: Single well horizontal cyclic recovery CSOR 3 3.5; CDOR 300 500 bbl/d C only; 500 850 bbl/d combined C and D zones Compares favourably to typical McMurray well…
Saleski Phase 1 Design and Update Efficient design to reduce footprint Modules, concentrated central Well module processing facility All regulatory approvals in place Site cleared, grubbed and stripped Target engineering 90%…
Canadian Oil Sands Compete Underlying fundamentals for heavy oil are Relative Share Price Performance improving and underpinning a share price recovery Market recognizing that oil is reaching markets (one way or another) Growth in…
Truck and Rail Terminal Strategy Transition Long-term to Pipe Truck locations provide flexibility and price competition for Saleski and Germain delivery options Sufficient truck/rail terminal capacity expected to be in place for…
Next 12-18 Months Expected Milestones Saleski Germain Refine C-SAGD optimization Continue to convert well-pairs to production and Continue to test interaction between Grosmont C increase production ramp-up and D zones at pilot and…
Significant Definitions In this presentation the reserve and recoverable resource numbers, along with the net present values given, are as defined in the report of GLJ Petroleum Consultants Ltd. (GLJ) regarding certain of Laricinas…
Contact Us Laricina Energy Ltd. 800, 425 1st Street SW Calgary, Alberta T2P 3L8 403-750-0810 www.laricinaenergy.com laricinalaricinaenergy.com April 25, 2014 NEXT STEPS 24
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