Headwater Exploration Inc. CORPORATE PRESENTATION TSX:HWX May 2022
CAPITALIZATION, GUIDANCE AND BUSINESS STRATEGY Outlook Capitalization 2022 Previous 2022 Revised Headwater Exploration Inc. TSX HWX Guidance (1) Guidance (2) Average Daily Production (3) Share Price (May 11, 2022) /sh. 6.48 Annual…
REGIONAL CLEARWATER Expanding Exploration Footprint Total Land Holdings 400 net sections Falher/Clearwater Fairway 98 sections (100% WI) 5 prospective zones 7 prospects to be tested in Q4 2022 West Marten Hills CLWTR SS and…
BUILDING A SUSTAINABLE BUSINESS GROWTH TO 22,500 BOE/D WITH DEVELOPMENT ACREAGE 5 Year Development Strategy Marten Hills + Marten Hills West Development 25,000 20,000 Production boepd 15,000 10,000 5,000 0 2022…
BUILDING A SUSTAINABLE BUSINESS WHAT IS NEXT ADDITIONAL EXPLORATION POTENTIAL Exploration Strategy Identify prospective acreage Acquire incremental lands through Illustrative Additional Exploration Potential Crown land sales…
CLEARWATER FULL CYCLE ILLUSTRATIVE EXPLORATION Exceptional Velocity of Cash Flow Illustrative Clearwater Exploration Development Capital Efficiency vs Production Growth Highlights 100,000 5,000 Exceptional continued velocity of…
MARTEN HILLS AREA SUMMARY Results 2022 capital allocation increased from approximately 90 million to 110 million Capital expansion accelerates secondary recovery Producing well results have remained consistent with IP 30s ranging…
WEST MARTEN HILLS DEVELOPMENT AREA Results to Date 13 Clearwater A and 2 Clearwater B wells drilled to date Delineation/exploration wells drilled to date have identified: 225 drilling locations in the CLWTR A 70 drilling…
GREATER PEAVINE Expanding The Exploration Footprint And Setting The Stage For Material Growth Greater Peavine Exploration Plan Falher/Clearwater Fairway 2022 Capital Allocation - 50 million 98 sections (100% WI) 30 million of land…
14 GREATER PEAVINE - UTIKIMA LAKE Exploration Plan Utikima 5.5 sections of land 3 prospective zones with 10-15 mmbbls of OOIP per section Spur 100/16-20-078-09W5 IP: 150 bbls/d First drill planned in Q4 2022 as a follow 16 API…
WHY HEADWATER Business Strategy Outcome to Date Current positive working capital of 80 million Build a sustainable business with no debt Year over year growth of 160% EOR implementation to decrease sustaining capital Grow the…
Headwater Exploration Inc. Appendix TSX:HWX
MCCULLY PRODUCING ASSET DRY GAS WITH 100% OWNED INFRASTRUCTURE AND LIMITED LIABILITY McCully Asset Daily Production McCully Daily Production mcf/d Production period 25000 New Brunswick 20000 Production mcf/d MNP pipeline…
WATERFLOOD IMPLEMENTATION Waterflood Pilots and 2022 Expansion 40 injectors (55% of defined pool) under waterflood by Q1 2023 07/16-26-074-25W4/00 (16-27) (6 Legs) First Oil Date: 2021-09-21 Data Current to: 2022-05-01 600…
OTHER CLEARWATER WATERFLOOD PILOTS Spur Marten Hills Section 32-073-24W4 (Grandpa Burger) 4 leg producer (F1), 6 leg producer (F2), 5 leg injector (F3) Bottom waterflood Injecting at 433 bbls/day (1.5x VRRi Full Pattern )…
OTHER CLEARWATER WATERFLOOD PILOTS Spur Marten Hills Section 20-074-25W4 6 leg producer (F1), 6 leg injector (F2) Bottom waterflood Injecting at 142 bbls/day (1.4x VRRi) Gas-Oil-Ratio continues to decrease No premature water…
CYCLE TYPE WELL ECONOMICS Exceptional Velocity of Cash Flow 1 Year Recycle Ratio & NPV, 10% 3.5 9.6 3.0 8.6 7.7 2.5 7.4 6.7 5.9 1 Year Recycle Ratio 5.7 2.0 5.1 4.2 1.5 3.7 Highlights 3.1 1.0 2.5 2.5 2.0…
EXPERIENCED TEAM Headwater Exploration Inc. Management Team Neil Roszell, P. Eng. Former President, CEO and/or Executive Chairman and founder of Raging River Exploration Inc., Wild Stream Exploration Inc. CEO & Chairman and Wild River…
SLIDE NOTES Slide 1 1. Previous guidance disclosed as of March 10, 2022. 2. The assumptions used in the revised 2022 guidance include: WTI US97.50/bbl, WCS Cdn107.30/bbl, AGT US15.90/mmbtu, foreign exchange rate of US/Cdn of 0.78,…
ADVISORIES Forward Looking Statements Advisory This investor presentation of Headwater Exploration Inc. (Headwater) contains forward-looking statements and forward-looking information (collectively, forward-looking statements). More…
ADVISORIES Five-Year Development Strategy Advisory Advisory Relating to Five-Year Development Strategy (Slide 3) The Company has presented herein a five-year development strategy that provides for developing the Companys Marten Hills…
ADVISORIES Non-GAAP Advisory NON-GAAP MEASURES AND RATIOS This investor presentation contains the terms adjusted funds flow from operations (AFFO), adjusted working capital, capital expenditures or capital program, free cash flow,…
ADVISORIES Certain Oil and Gas Advisories ESTIMATED ULTIMATE RECOVERY (EUR) This investor presentation contains a metric commonly used in the oil and natural gas industry, estimated ultimate recovery or EUR. The term EUR is the estimated…
ADVISORIES Certain Oil and Gas Advisories BARRELS OF OIL EQUIVALENT The term boe or barrels of oil equivalent may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one…
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