January 2021 Corporate Presentation – Cardinal Energy Ltd.

Cardinal Energy Ltd. · Jan 1, 2021 · 15 slides

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Slides

TSX: CJ January 2021 Corporate Presentation
Message to Shareholders Enclosed is our update for Cardinal as of January 2021. 2020 started off in a bullish fashion with oil prices moving up significantly and Cardinal beginning an 8 well drill program. Then, as we all experienced,…
2021 Budget Highlights 2021 Budget 2020 Forecast Change % Production Boe/d 17,751 18,345 -3% Adjusted Funds Flow mm 74.8 43.2 73% Basic per share ( per share) 0.61 0.38 61% Diluted per share ( per share) 0.55 0.36 53% Net bank debt…
Budget Assumptions and Sensitivities Budget Assumptions Sensitivities 2021 Budget 2020 Est Adjusted Funds Flow ( mm) WTI US/bbl 52.00 39.40 Base budget 74.8 WCS Differential US/bbl (13.50) (12.59) US1 WTI 3.8 MSW Differential US/bbl…
2021 Debt Repayment Scenarios WTI Capital/ARO Debt Repayment Closing Net Bank Debt (/bbl) ( mm) ( mm) ( mm) 42 31.7 (2.7) 199.6 52 31.7 (41.1) 161.2 Free Cash Flow 60Dividends 31.7 (71.8) to Shareholders 130.4 NCIB 5 Cardinal…
2021 Current Hedging Product Q1 Q2 Q3 Q4 WTI - Volume (bbl/d) 9,333 6,000 2,500 1,500 - Avg Price (CAD) 55.16 56.42 57.10 55.83 - % of production 59% 38% 16% 10% WCS Differential - Volume (bbl/d) 2,000 2,000 - - - Avg Price (CAD)…
BOEPD - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 2018-01-01 2018-02-01 2018-03-01 2018-04-01…
Significant Torque to Oil Prices 25% 20% 15% 10% 5% 0% TVE CR LXE BIR TPZ CJ FRU ATH AAV ARX POU PIPE KEL TOU SRX NVA PSK PEY CPG VII % change in…
North Operating Area 2021 Forecast Oil Price 50 60 20% 2021 Average Production: 5,500 boe/d (USD/bbl) (change in WTI) NOI 27,158 36,233 33% FCF 22,063 31,137 41% House Mountain Oil Decline Mitsue Oil Decline Annual Decline…
Central Operating Area 2021 Forecast 2021 Average Production: 4,500 boe/d Oil Price 50 60 20% (USD/bbl) (change in WTI) NOI 26,455 44,664 69% Central District 5,500 2021 Production Forecast FCF 20,653 38,862 88% 5,000 4,642…
South Operating Area 2021 Forecast Oil Price 50 60 20% 2021 Average Production: 4,800 boe/d (USD/bbl) (change in WTI) NOI 28,200 51,600 83% FCF 21,300 36,900 73% Production decline 17% Production decline 0% 11 Cardinal Energy…
Saskatchewan Operating Area 2021 Forecast Oil Price 50 60 20% 2021 Average Production: 3,000 bbl/d (USD/bbl) (change in WTI) NOI 27,300 38,300 40% FCF 19,800 30,800 56% Production decline 2% 12 Cardinal Energy Ltd. TSX: CJ
Drilling Inventory Breakdown Cardinal Growth/Maintenance Drilling Drill Ready Tier 1 Tier 2 Follow ups No drilling in 2021 Budget (may be revisited in second half South 51 35 of the year based on commodity prices) Central 37 90…
2021 ARO Budget 2021 ARO Budget As an ABC participant, Cardinals required spend for 2021 ABC program is 5.55 million less the 2020 Original 2020 Spent, 2021 Budget, approximately 1.8 million = 3.75 million which is Budget, M M M…
Federal Government Abandonment Program On April 17, 2020 the Canadian Federal government announced a 1.7 billion to go to the provinces for work on liability cleanup for the oil and gas industry. The province of Alberta was allocated 1…

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