JOURNEY Corporate Presentation TSX: JOY OTCQX: JRNGF April, 2022
Journey Today Is Unlevered Unhedged Undergoing a transformation to: A sustainably growing free cash flow business Unlocking value in under capitalized assets Uninterested in: Anything that does not create or preserve stakeholder…
April 2022 9,400 boe/d(1) (46% liquids); 97% unhedged Strategic relationship with AIMCo; Sole lender and largest shareholder 14% corporate decline go forward; waterfloods and other low decline assets supports sustainability…
Corporate Growth Returns in 2022 2019 2020 2021 2022 Operating Highlights Actual Actual Actual Forecast Production Average (boe/d) 9,372 8,379 8,004 9,100 9,600 Oil and NGLs (%) 48% 46% 47% 47% Corporate Decline Rate (%) 16% 17%…
Funds Flow Increasing / Net Debt Decreasing with Improving with Commodity Prices 124 million 90 million 57 million 89 million 44 million 9 million 6 million Pro Forma 2020 2021 2022 2020 2021 2022 equity Fund…
2021 YE Reserves; Declines Stable Base -2020 2021 AddYEYE Value Reserves Reserves - Excess Summary Summary Tax Pools Preserve Value Company Gross (WI) Reserves(1) Oil Gas NGLs Reserve Category Mboe RLI (Mbbl) (Bcf) (Mbbl)…
Q2 PrivateCo/Infrastructure Stable Base -2020 2021YE YEAcquisitions Reserves ReservesSummary Summary (1) (Internal Estimate) Company Gross (WI) Reserves(1) NPV10 ( Oil Gas NGLs Reserve Category Mboe RLI million) Before FDC…
Net Asset Prices/Exceptional YE NAV Growth; Increasing Commodity Value Capital Efficiency 2021 NPV 10% 2021 2021 Net Asset Net Asset Value per Value Share P+P 450MM 57MM 48 MM P+P O/S Shares P+P YE net debt 8.19/share…
Reserves GLJ Forecasted Edmonton Value Light Price Reversing Trend for 2022(1) Forecast Year 2015 2014 March 2022 2016 2017 2019 MSW Price (CDN/bbl) 2018, 2020 2022 2021 January 1, 2022 Pricing still lags…
How to make a Low Decline even LOWER 415 MM on waterflood 40 MM conventional 415 MM on 40 MM to waterflood be delineated and flooded JOY net barrels of 260 MM to be DOOIP by category flooded 755 MM net barrels of DOOIP…
But Wait Theres Still More To Come 755 MM net barrels of DOOIP 2.6% of booked recovery 84.6% of oil left behind Ultimate 12.8% recovered to date Recovery 15.4% ultimate recovery Oil left behind becomes Target Resource…
Reserves Strong Base Even Stronger Value Future Development Potential (As at December 31, 2021) Journeys 203 million of P+P future development capital (FDC) is only 3.70/P+P boe 65% of Journeys identified capital projects…
Extensive Drilling Inventory; in Existing Pools Journey has identified 232 (211 net) horizontal drilling opportunities Drilling Locations(1) % Booked(2) in Total(1) Reserve Report Region Gross Net South 112 107 36% Central 120…
Value of Inventory Appreciates with Pricing Comparative Economics Versus Oil Price - IRR% 400 Matziwin HZ AECO 4.00/MMbtu Peters & Co 2022 Price 350 Crystal HZ Forecast Cherhill HZ 300 Westerose HZ Skiff 3 HZ WF Pattern 250…
Journey Has Over 15 Years of Drilling Inventory, Lets Get After It (1) Comparative Economics Versus Oil Price - Payout (Years) 2.5 Skiff 3 HZ WF Pattern AECO 4.00/MMbtu Peters & Co 2022 Price Westerose HZ Forecast Cherhill HZ…
2022 High Impact Opportunity - Westerose Glauconitic Liquid Rich Gas(1) 04-06 Vertical Discovery offsetting Drilling Plan Legend Deep Wells Glauc Pool 2022 Location Inventory Location Planned hz well path JOY Land 2021…
Crystal Viking - 2 Wells Drilling Q2 2022 Legend Journey operated wells and infrastructure JOY Wells OOIP: 153 MMbbl, 16% recovered to date Viking Pool Oil: 40 API 2022 Location Inventory 4 successful HZ analog wells drilled to…
Skiff 3 Wells Drilled Q1 2022 Journey operated wells and infrastructure OOIP: 28 MMbbl, 17% recovered to date GLJ booked 2P total recovery of 38% Unbooked potential for further recovery Oil: 20 API Cumulative Voidage Ratio to…
Countess Power (on stream Q4 2020) Future Potential Journey holds 100% WI in the Countess power plant 4 MW power generation; fuel gas supplied by long life, natural gas Connected to the Alberta Power grid; sold on the spot market…
Journey Today Is Unlevered Unhedged Undergoing a transformation to: A sustainably growing free cash flow business Unlocking value in under capitalized assets Uninterested in: Anything that does not create or preserve stakeholder…
Directors Strong Governance Craig Hansen Chairman of the Board Independent businessman, President and Chief Executive Officer of Zargon Oil & Gas Ltd. and its predecessor, Zargon Energy Trust. Also a member of Journeys Reserves and…
Energized and Engaged Team Alex G. Verge, P.Eng., M.Eng. President and Chief Executive Officer, and Director Previously President and CEO of NuVista Energy, VP Engineering at Bonavista, and senior positions at Poco Petroleums, Rising…
Environment, Social and Governance Environmental Journey has established a target to reduce direct emissions intensity by 20% from 2019 levels by 2023. We chose 2019 as a base for this target to focus on new reductions rather than…
Environment, Social and Governance (Continued) Social Journey takes pride in maintaining its operations with the highest of standards and ensures its suppliers of goods and services do so as well. Journey operates in nine key areas in…
Environment, Social and Governance (Continued) Governance In recognition of the key role that sustainability plays in our business, Journey has mandated that the Board of Directors (the Board) take an active role in evaluating our…
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