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February 2022 Corporate Presentation – Lucero Energy Corp.

Lucero Energy Corp. · Feb 1, 2022 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 1
    A New Management Team. A New Vision. Corporate A World Class Resource. Presentation February 2022 TSXV: PSH OTCQB: PSHIF
  2. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 2
    Introducing Lucero Energy Corp. PetroShale Inc. has a new management team NEW EXPERIENCED MANAGEMENT TEAM PROVEN RETURNS FOCUSED STRATEGY A return to the Williston Basin, where new management Longterm approach to creating shareholder…
  3. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 3
    Recapitalizing an Ideal Platform Asset Focused, highnetback light oil THE HEART OF THE BAKKEN PLAY Assets focused in the most prolific part of North Dakota Bakken / Three Forks with North Dakota 97% of acreage held by production and…
  4. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 4
    New Management Team & Board Successful track record of disciplined, long term value creation Management Team Board of Directors Brett Herman President & CEO M. Bruce Chernoff Jason Skehar Chief Operating Officer Brett Herman Marvin…
  5. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 5
    Recapitalization Adding financial flexibility for future growth Private Placement Summary C per unit / issued common share (mm) Cmm Nonbrokered units 0.40 23.8 9.5 Brokered common shares 0.40 112.5 45.0 Total issued & gross proceeds…
  6. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 6
    Capitalization Summary TSXV: PSH OTCQB: PSHIF Before After Recapitalization Recapitalization Basic Shares Outstanding mm 523 660 Fully Diluted Shares Outstanding mm 533 693 Market Cap Cmm 209 264 Net Debt (YE 2021E) Cmm 207 155…
  7. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 7
    Proven Strategy Proven and repeatable strategy to generate value and consolidate/develop the play with a consistent approach throughout the cycle Per share growth through Longterm approach to organic development & creating shareholder…
  8. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 8
    Strategic Priorities Free cash flow with commitment to high quality assets and maintaining financial flexibility Managing a Cyclical Business Balance sheet strength is key Focus on asset quality / capital efficiencies Return of…
  9. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 9
    Returns Focused Strategy Proven, repeatable strategy to generate value with a consistent approach throughout the cycle Acquisitions Strategic consolidation of complementary assets in North Dakota Opportunistic acquisitions where…
  10. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 10
    High Quality Acreage Sizeable drilling inventory and acreage situated in heart of the Bakken / Three Forks Bakken/Three Forks OIP (MMBo/sec) Bakken/Three Forks IP365 (bopd) Situated in the heart of the play ...and surrounded by the…
  11. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 11
    Significant Resource Development Stacked pay serves as a multiplier for drilling locations Reservoir Attributes Bakken Three Forks Lithology Dolomitic Siltstone and Shale Silty Dolomite and Limestone Average Depth 10,300' 10,400…
  12. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 12
    Cash Flow Engine Robust economics for a sustainable free cash flow model Single Well Economics US60 WTI US70 WTI DCET Capital (USmm) 7.0 7.0 IP365 (boepd) 641 641 Reserves (mbbl) 750 750 Production Adds 10,920 10,920 (US/boepd)…
  13. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 13
    Sustainability & Debt Repayment Prioritizing debt reduction in 2022 10,750 boe/d Annual average production (2022E) (85% oil & NGLs) USWTI 40 50 60 70 80 WTI differential (US) (3.00) (3.00) (3.00) (3.00) (3.00) FX (US/C) 0.76 0.77…
  14. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 14
    Five Pillars of ESG Dedicated ESG program based on five pillar program Health & Safety Environment, Social Engagement & Culture Deliver secure, safe working spills, water use & land use Promote corporate culture of environment…
  15. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 15
    Investment Summary Positioned for Disciplined Growth PurePlay U.S. Sustainable Experienced, Investment & Bakken/Three Forks Business Proven Team Upside Worldclass resource Significant free cash Strong track record of Predictable,…
  16. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 16
    Contact Us Calgary Office Auditors Legal Counsel KPMG LLP Burnet, Duckworth & Palmer LLP (Calgary) Lucero Energy Corp. Bryan Cave Leighton Paisner (Denver) 3230, 421 7th Ave S.W. Reserve Engineers Calgary, AB T2P 4K9 Netherland, Sewell…
  17. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 17
    Appendix
  18. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 18
    New Management Team Successful track record of disciplined, long term focused growth Brett Herman, President & CEO Sandy Brown, Vice President Geosciences President & CEO of TORC Oil & Gas (2010 to Vice President Geosciences of TORC Oil…
  19. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 19
    2022 Capital Program US45 million (C58 million) capital program objectives: Maximize free cash flow generation with a focus on debt repayment Focus on stabilizing production and moderating the corporate decline rate Execute capital…
  20. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 20
    Guidance & Modeling Assumptions (2022) Significant free cash flow potential PRODUCTION Annual Average: 10,500 boe/d 11,000 boe/d (85% oil & NGLs) Exit: 11,000 boe/d (85% oil & NGLs) CASH FLOW Annual average royalty rate: 20% Opex,…
  21. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 21
    Hedges Volume Swap Sold Put Bought Put Sold Call Oil Contracts Quarter (bbls/d) (US) (US) (US) (US) Costless Collars Q1 2022 2,500 48.10 63.29 Q2 2022 2,750 48.73 62.72 Q3 2022 1,500 50.83 65.32 Q4 2022 1,500 50.83 65.32 Fixed Swaps…
  22. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 22
    Slide Notes Slide 2 1. 0.6x D/CF (2022E) is calculated using forward benchmark commodity prices as at January 12, 2022 (annual average WTI of US78.73). D/CF refers to net debt to cash flow and is a nonIFRS measure; see NonIFRS Measures…
  23. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 23
    Slide Notes Slide 10 1. OIP refers to oilinplace and is the estimated quantity of petroleum that is estimated to exist in naturally occurring accumulations. It includes that quantity of petroleum that is estimated, as of a given date, to…
  24. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 24
    ADVISORY STATEMENTS Forwardlooking Statements Certain information set forth in this presentation, including (among other things): Lucero's proposed development opportunities, business plans and intentions, expectations for realizing…
  25. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 25
    ADVISORY STATEMENTS, CONTD Analogous Information: In this presentation, Lucero has provided certain information on the production rate of a well on properties adjacent to the Company's acreage which is analogous information as defined by…
  26. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 26
    ADVISORY STATEMENTS, CONTD Reserves Disclosures. Estimates pertaining to the Companys reserves and the net present value of future net revenue attributable thereto are based upon the independent engineering evaluation of the crude oil,…
  27. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 27
    ADVISORY STATEMENTS, CONTD FORWARD LOOKING FINANCIAL INFORMATION: This presentation contains futureoriented financial information and financial outlook information (collectively, FOFI) about the Company's prospective results of…
  28. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 28
    ADVISORY STATEMENTS, CONTD Rights of Action Manitoba Purchasers Only The right of action for rescission or damages described herein is conferred by section 141.1 of The Securities Act (Manitoba) (the Manitoba Act). The Manitoba Act…
  29. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 29
    ADVISORY STATEMENTS, CONTD Rights of Action Saskatchewan Purchasers Only The right of action for rescission or damages described herein is conferred by section 138 of The Securities Act, 1988 (Saskatchewan) (the Saskatchewan Act). The…
  30. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 30
    ADVISORY STATEMENTS, CONTD The Saskatchewan Act provides that no action shall be commenced to enforce any of the foregoing rights more than: in the case of an action for rescission, 180 days after the date of the transaction that gave…
  31. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 31
    ADVISORY STATEMENTS, CONTD In addition, a person or company, other than the Company, will not be liable on such actions if that person or company proves that: the offering memorandum or any amendment to the offering memorandum was sent…
  32. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 32
    ADVISORY STATEMENTS, CONTD Rights of Action Prince Edward Island Purchasers Only The right of action for rescission or damages described herein is conferred by section 112 of the Securities Act (Prince Edward Island) (the P.E.I. Act) and…
  33. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 33
    ADVISORY STATEMENTS, CONTD Rights of Action Newfoundland & Labrador Purchasers Only The right of action for rescission or damages described herein is conferred by section 130.1 of the Securities Act (Newfoundland and Labrador) (the NL…
  34. February 2022 Corporate Presentation – Lucero Energy Corp. – slide 34
    ADVISORY STATEMENTS, CONTD United States This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any such offer to sell or solicitation of an…

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