INVESTOR UPDATE FREE CASH FLOW, GROWTH-FOCUSED CANADIAN OIL & GAS PRODUCER FEBRUARY 2022 Not for release to US wire services or distribution in the United States
2 CORPORATE DISCLAIMER This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the…
3 ASSETS & OPERATIONAL HIGHLIGHTS Conventional oil & gas producer focused on generating free cash flow from the responsible development of high-quality assets in Western Canada January exit Production of 4,300 boe/d (74% Oil)…
4 EQUITY RAISING STRUCTURE Calima undertaking an equity placement to raise A20 million at 20 cents ASX Trading Symbol CE1 Shares on Issue 514,084,228 New Shares 100,000,000 Total Post Placement 614,084,228 Raising Dilution on…
5 EQUITY RAISING TIMETABLE EVENT DATE Trading halt 7 February 2022 Announcement of Transaction and Placement 9 February 2022 Settlement of New Shares under Placement 16 February 2022 Allotment and normal trading of New Shares…
6 CORPORATE SNAPSHOT Calima is a returns and growth-focused energy producer with top tier assets, positive cash flow and is ESG goal orientated FINANCIAL INFORMATION January Exit Production 4,300 boe/d H1 2022 AVG. DAILY PDP…
7 MANAGEMENT & BOARD LEADERSHIP Jordan Kevol Braydin Brosseau Mark Freeman Managing Director & CEO CFO & VP Finance - Canada Finance Director - Australia 9 years at Blackspur (Founder & CEO) 7 years at Blackspur 20 years oil and…
8 CALIMA QUARTERLY PERFORMANCE December 2021 Quarterly Highlights A19.8 million in oil & gas sales 3,200 boe/d Q4 2021 average production A9.4 million Q4 2021 adjusted EBITDA ASX: CE1
9 NEAR-TERM OPERATIONAL TIMELINES JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Pisces 1 on production Pisces 2 on production Pisces 3 completion, equip and on production Gemini 5 completion, equip and on production…
10 CALIMA GUIDANCE Corporate Guidance & Sensitivity for the 6 month period ended June 30, 20221 WTI US/bbl 70 80 90 Average production (boe/d) 4,000 5,000 4,000 5,000 4,000 5,000 Revenue (A million) 48 59 55 66 60 74 Operating…
11 Equity Financing Proposed A20 million placement to provide greater operational flexibility and improve access to accretive M&A opportunities Use of Proceeds: In the immediate term, the net proceeds will reduce the amount drawn…
12 H1 2022 Indicative Forecast - C19 million capital program Pre-Raise Forecast H1 2022 capital program of C19 million Net debt forecast at June 30 of C20 million H1 2022 forecasted production is based on current PDP…
13 BROOKS Large resource in place with multiple oil pools identified, delineated and developed 67.5 net sections across 43,200 net acres in total, with year-round access and 60 wells drilled to date Owned and operated…
14 BROOKS BROOKS ECONOMICS 1,2,3,4 Brooks Type Curve Economics Glauconitic 1 mile lateral Sunburst Conventional Sources: Company disclosure, geoSCOUT US70 WTI US70 WTI Current production 2,450 boe/d (1/2/22) EUR Oil &…
15 BROOKS OPTIMIZATION PROJECT AND NEAR TERM DEVELOPMENT Overview Construct a key pipeline connecting Blackspurs 02-29 battery in the northern portion of Brooks asset to our wells, lands, and gathering system in the southern…
16 BROOKS WATERFLOOD EXPANSION Overview J2J Sunburst Oil Pool In-depth technical work completed including a classical reservoir study followed by a full field 3D reservoir simulation built to assess field optimization strategies…
17 THORSBY Current production 1,850 boe/d (1/2/22) 3 Thorsby development wells were drilled in Q3 2021 Leo 4 and commenced flowback in mid November 1 (0.5 net) well drilled in North Thorsby January 2022 98 net sections on 62,900…
18 THORSBY THORSBY ECONOMICS 1,2 Tier 1 (a) Sparky Type Curve Economics Tier 2 (b) Illustrative 40 T/Stage (c) Sources: Company disclosure, geoSCOUT US70 WTI US70 WTI US70 WTI Significant type curve outperformance by select…
19 CALIMAS FOOTPRINT IN THE MONTNEY 100% interest in 33,643 acres of Montney drilling rights in BC, with 10-year continuation lease over 49 sections due to successful 2019 drilling campaign Owns Tommy Lakes facilities and pipeline…
20 CALIMA FUTURE DEVELOPMENT OPPORTUNITY Strategy to prepare for future development while unlocking value short term via joint ventures, partnerships or an asset transaction Montney remains a strategic source for oil & gas for…
21 CALIMA INVESTMENT SUMMARY Quality free-cash flowing assets, low-leverage and significant exposure to rising oil and gas prices PRODUCTION GROWTH Continue development drilling to achieve 4,500 boe/d1 Increase production to…
Contact Us For further information visit www.calimaenergy.com or contact: CALIMA ENERGY LIMITED HEAD OFFICE - BLACKSPUR AUSTRALIAN OFFICE - CALIMA Suite 1000, 205 5 Ave SW 4/246-250 Railway Parade, Calgary, AB T2P 2V7, Canada West…
Appendices
24 KEY RISKS This section sets out some key risks associated with any investment in Calima, which may affect the value of shares in Calima. The risks set out are not listed in order of importance and do not constitute an exhaustive…
25 KEY RISKS (cont.) Calima may be required to raise additional funds in the future, in respect of the Calima Lands development or otherwise. There is no guarantee that Calima will be able to raise such additional capital when it is…
26 KEY RISKS (cont.) Oil and gas operations have inherent risks and liabilities associated with ensuring operations are carried out in a manner that is responsible to the environment. Although Calima operates within the prevailing…
27 INTERNATIONAL SELLING RESTRICTIONS This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be…
28 INTERNATIONAL SELLING RESTRICTIONS WARNING: This document has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been…
29 INTERNATIONAL SELLING RESTRICTIONS Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning…
30 ROBUST HEDGE POSITION TO MITIGATE DOWNSIDE PRICE EXPOSURE Hedge volume per day Gross hedge (365 day Average 2022 hedge position volume average) price Units WTI (bbl/d) 440,800 1,208 81.68 C/bbl WCS basis (bbl/d) 429,800…
31 COMMITMENT TO ESG GHG Emissions Safe Operations Corporate Governance & Policies Strive to prevent workplace injuries, Strive to establish and maintain strong Strive to minimize fuel, flare and vent emissions reduce the risks…
32 CREDIT FACILITY TERMS Interest Pricing Grid Terms Revolving Credit Facility Canada Prime Rate + Bankers Net Debt / Cash basis points per Acceptance + basis Facility Size Flow below points per below Standby fees C27 million…
33 GLOSSARY Abbreviation Description Abbreviation Description WI Working Interest B Prefix Billions C Contingent Resources 1C/2C/3C low/most likely/high MM Prefix - Millions NRI Net Revenue Interest (after royalty) M Prefix -…
34 GLOSSARY Terms Description Adjusted EBITDA Adjusted EBITDA is calculated as net income (loss) before interest and financing expenses, income taxes, depletion, depreciation and amortisation, and adjusted to exclude certain…
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