Corporate Presentation August 2024 KeltExploration.com David J. Wilson President & Chief Executive Officer Sadiq H. Lalani Vice President & Chief Financial Officer www.keltexploration.com 1
Why Invest in Kelt VALUE CREATION Kelt Exploration Ltd. (Kelt or the Company) focuses on value creation for shareholders over the long-term. The Company emphasizes low-cost land accumulation in resource-style plays with the…
Capital Structure Stock Exchange listing TSX Trading symbol KEL Market capitalization ( 5.73 effective Aug/2/2024 ) 1.1 billion 52-week stock trading range 5.00 8.16 Common shares issued 195.7 million Stock options ( 10.9 MM ) &…
Insider Commitment Insider Purchases Offering / Market Purchases Date Shares (MM) Amount (MM) Price/share 13.9 MM Equity Private Placement Feb-2013 3.7 8.7 2.32 94.4 MM Equity Private Placement Apr-2013 5.7 31.5 5.55 92.0 MM Equity…
Capital Expenditures Three Year Comparative 2024 2024 / ( millions ) 2022 2023 Forecast 2023 Drilling & Completions 191.0 193.2 213.0 10% Infrastructure: Equipment, Facilities, 122.7 85.8 92.0 7% Pipelines & Tangible Inventory Land,…
Drilling & Completions Program 2022 2023 2024 Forecast Drills Gross / Net Wells Gross / Net Wells Gross / Net Wells Alberta 28 25.4 21 20.0 24 24.0 British Columbia 3 3.0 7 7.0 6 6.0 Total 31 28.4 28 27.0 30 30.0 2022 2023 2024…
2023 Production and Operating Income Product Mix Operating Operating Operating Production Production Income [3] Income Netback [3] ( BOE/d ) Split ( MM ) Split ( /BOE ) Oil 7,979 26% 188.9 66% 64.84 NGLs: C5+ [1] 1,202 4% 29.7 10%…
Commodity Prices Three Year Comparative ( CAD, unless otherwise specified ) 2022 2023 2024 Forecast WTI Crude Oil ( /bbl ) [1] US 94.80 123.42 US 77.63 104.76 US 81.00 110.80 MSW Crude Oil ( /bbl ) [2] US 92.78 120.79 US 74.40 100.40 US…
Gas Market Risk Management GAS MARKET DIVERSIFICATION Kelt has taken a diversified approach to selling its natural gas in order to reduce exposure to single market risk. Estimated % of average gas sales in 2024 at each respective price…
Gas Processing Arrangements GAS PLANT DIVERSIFICATION Kelt has entered into various agreements that provide the Company with the ability to increase its raw gas processing capacity over the next three years: WEMBLEY/PIPESTONE DIVISION:…
Commodity Price Risk Management Derivative Instruments ( 1 of 2 ) Remaining Commodity Index Type Quantity Contract Price Term NYMEXAECO Aug/2024 to 10,000 Natural Gas Financial Monthly AECO Basis calculated at 30% of the floating…
Commodity Price Risk Management Derivative Instruments ( 2 of 2 ) Remaining Commodity Index Type Quantity Contract Price Term Aug/2024 to 2,000 CAD 105.18 / bbl Crude Oil WTI Financial Sep/2024 bbls/d [ equivalent to USD 76.89 / bbl…
Netbacks Three Year Comparative 2023 / 22 2024 2024 / 23 ( / BOE ) 2022 2023 change Forecast change Net realized price 59.54 43.01 ( 28% ) 42.40 ( 1% ) Realized hedging gain ( loss ) ( 5.68 ) 1.35 ( 0.02 ) ( 101% ) Royalties ( % of net…
Financial Summary Three Year Comparative 2024 2024/23 ( MM, unless otherwise specified ) 2022 2023 Forecast change P&NG sales 613.4 495.6 552.0 11% Adjusted funds from operations [1] 327.0 276.2 270.0 ( 2% ) AFFO per share diluted (…
ROACE Three Year Comparative Return on average capital employed (ROACE) measures the efficiency of Kelts utilization of the capital that it employs. In this calculation, ROACE is defined as earnings for the period adjusted for interest…
Reserves Future Development Capital Proved Reserves [1] P+P Reserves [1] December 31, 2023 FDC Net FDC Net ( MM ) Wells ( MM ) Wells Alberta Montney wells 1,343.2 170.7 1,676.2 214.7 B.C. Montney wells 212.9 27.0 396.6 50.0…
2023 Finding, Development, Acquisition & Disposition Costs PDP Proved P+P ( M, unless otherwise specified ) Reserves Reserves Reserves Capital expenditures, net of dispositions 282,646 282,646 282,646 Change in FDC costs required…
Net Asset Value Net Asset Value per Share Sproules Forecasted Future Commodity Prices December 31, 2023 M /share WTI NYMEX HH Exchange Proved reserves [2] 2,827,673 13.75 Crude Oil Natural Gas Rate (USD/bbl) (USD/MMBtu) (CAD / USD)…
Operating Divisions Oak/Flatrock Montney light oil/condensate-rich gas Pouce Coupe/Progress/Spirit River Montney light oil Montney and Doig gas Oak/Flatrock Pouce Coupe/ Progress/Spirit River Charlie Lake light oil…
Operating Divisions Summary of Reserves and Production Proved P+P 2023 2023 Production Reserves Reserves P+P Reserves [1] [2] Netback [3] Value [1] Value [1] Division BOE/d Oil/NGLs /BOE MM MM MBOE Oil/NGLs Pouce…
Kelt Land Fairway R13 R11 R9 R7 R5 R3 R1W6 R24W5 94-A-14 94-A-15 94-A-16 T90 94-A-11 94-A-10 94-A-9 T88 T88 Land Holdings T86 Developed + Gross Net Net T86 Oak T84 Flatrock T84 Undeveloped Acres Acres Sections Fort St. John…
Kelt Montney Framework Oak / Flatrock Pouce Coupe Progress La Glace Pipestone / Wembley Proven Productive Montney Horizons Kelt Future Exploratory Horizons within Core Areas Area Oak Pouce Coupe West Progress La Glace Pipestone…
British Columbia Montney - Oak / Flatrock Division 8-16 14-2 02/8-16 (sfc 11-26) 1-9, 4-10, 2-9, (sfc 13-12) (DUC) 3-9, 3-10, 2-10. 16-23, 14-24 Montney Land Holdings 02/2-10, 02/3-9 (sfc 13-12) (sfc 5-33) 02/13-13 (sfc 13-12)…
Alberta Montney Lands Alberta Montney Land Holdings 49 sections T80 Gross 164,168 acres ( 256 sections ) Net 146,187 acres ( 228 sections ) Pouce Pouce Coupe Coupe T78 POUCE COUPE WEST West High deliverability dry gas wells.…
Pouce Coupe / Progress Division Montney Kelt Lands T82 NRM Fourth Creek Gas Plants Gas Plant T81 NRM Gordondale East Gas Plant Pouce T79 Pouce Coupe Coupe (oil-prone) West (gas-prone) Progress T77 Progress (oil-prone)…
Wembley / Pipestone / La Glace Division Montney 2024 Development Program: 02/13-32 14-2 pad 6 wells 13-10 14-9 pad 5 wells Montney Land Holdings (sfc 14-34) 14-26 3 wells 1-35 13-18 (sfc 9-17) (sfc 12-19) 5-9 T75 Gross 114,088…
Wembley / Pipestone / La Glace Division Infrastructure Proposed third-party pipeline construction will T77 INFRASTRUCTURE connect with Kelts existing gas gathering system at Pouce Coupe / Progress, providing the Company with…
Alberta Charlie Lake Lands Alberta Charlie Lake Land Holdings T80 Gross 131,040 acres ( 205 sections ) Net 87,667 acres ( 137 sections ) Pouce Coupe Progress Spirit River Spirit River Lower Charlie Lake T78 EUR Single FDC Well (…
Progress / Spirit River Charlie Lake CHARLIE LAKE LAND HOLDINGS Spirit T79 Gross: 27,680 acres ( 43 sections ) 1-30 LCL River Net: 20,959 acres ( 33 sections ) (sfc 10-7) KEL 50% 1-25 LCL Kelt 14-6 1-36 UCL 8-25 UCL Spirit River…
Pouce Coupe Charlie Lake 13-7 (sfc 12-9) Kelt 8-33 Pouce Coupe North CHARLIE LAKE LAND HOLDINGS Facility T81 (99% WI) Gross: 62,240 acres ( 97 sections ) Net: 41,440 acres ( 65 sections ) Pouce 16-6 Coupe (sfc 8-1) North T80…
Wembley / Pipestone Charlie Lake CHARLIE LAKE LAND HOLDINGS T74 Gross: 22,880 acres ( 36 sections ) Net: 16,134 acres ( 25 sections ) CHARLIE LAKE ACTIVITY Wembley / T73 Charlie Lake lands overlapping Kelts Montney 1-24 Pipestone…
Future Considerations The Company has numerous potential future drilling opportunities on its existing lands that will provide for continued growth in the years to come. The Company has amassed vast Montney acreage in new plays to…
Corporate Governance - Board of Directors William C. Guinan [ 8, 9 ] Jennifer J. Haskey [ 2, 6, 10 ] Board Chair, Independent Director, Independent Common shares 1,154,459 Common shares Nil Stock options 104,000 Stock options 45,000…
Leadership - Officers Douglas J. Errico David J. Wilson Sadiq H. Lalani Senior Vice President, Land President & Chief Executive Officer Vice President & Chief Financial Officer and Corporate Development Common shares 26,658,092…
Disclaimer In addition to other factors and assumptions which may be identified in this Presentation, assumptions have been made regarding, among other things: commodity prices; the accuracy of geological and geophysical data and its…
Disclaimer Capital expenditures, before A&D and Capital expenditures, net of A&D are non-GAAP measures the Company uses to monitor its investment in exploration and evaluation, investment in property plant and equipment, and net…
Disclaimer Capital Management Measures Funds from operations and adjusted funds from operations Management considers funds from operations and adjusted funds from operations key capital management measures as it demonstrates the Companys…
Corporate Presentation KeltExploration.com Kelt Exploration Ltd. Suite 300, East Tower 311 Sixth Avenue SW Calgary, Alberta Canada T2P 3H2 Phone: 403-294-0154 Fax: 403-291-0155 Website: www.KeltExploration.com 47
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