en route Building a Premier Northern Operator Corporate Presentation May2014 Presented at the 2014 AGM
Corporate Profile (SOG.V) Shares outstanding (million)1 361 Current Production (BOED) 4300 Share Price, Mar 28, 2014 0.50 2013 Reserves (2P) 4 mmboe 12.7 Market Capitalization (million) 180 Bank Line, ( million) 100 Enterprise value(…
Production Growth 2o14 2o13 Current Production Build Infrastructure 4,3oo 2o12 Discover Muskeg Stack Oil 3,2oo Develop Muskeg Stack Repeatable 2,1oo Upgrade Oil Capacity Reliable 2o11 Pipeline Connect Predictable Acquire…
Northern Asset Base MAXHAMISH (BC) CAMERON HILLS(NWT) non-operated 26,500 net acres operated 5oo MMbbls of 42 API Oil 74,058 net acres Sulphur Point Oil British Columbia Alberta BISTCHO(AB) operated 48,783 net acres Slave…
Asset Base Building a Premier Northern Operator Marlowe Asset Measurement Value (MM) Production 1,970 boed 118 2P Oil Reserves 5,486 Mboe 132 2P Gas Reserves 1,980.7 Mboe 29 Net Undeveloped Land 333,600 acres 75 Major Facilities 2 Gas…
2013 Year of the infrastructure build Muskeg Stack Play Major Infrastructure Projects New resource play Increased Capital spending Initial Success Increased Operating Costs Growing Pains Reduced Production No other operators SOG.V…
Steen River Astrobleme Large structural trap created by the impact of an Asteroid 100 MM years ago and is charged with light oil and gas in 6 horizons. 2002 1986 1999 1999 15 miles 2001 2001 2001 Gas (1999 -2013)…
Steen River - Stacked Oil Production Upper Slave Point Lower Slave Point Sulphur Point Muskeg Stack Zama Keg River Platform OOIP(1)/Section Depth (m) Zone Resource (MMBBL) 750 Slave Point 100+ sections 12 800 Sulphur…
Keg River 12 MMbbl OOIP(1) 2013 3D Seismic Area 0.5 MMbbl produced 16 MMbbl OOIP(1) 1 MMbbl produced 10 MMbbl OOIP(1) 2.5 MMbbl produced DCET MM 1.65 Reserves (MBOE) 265 % Oil 95% IP30 (BOED) 200 Year 1 Decline…
Impact of Downtime on initial 2013 Wells Approx. 30% downtime in 2013 Muskeg Stack Wells 30,000.0 40,000.0 Tied in: 2013-06-15 Tied in: 2013-04-18 Well 2 35,000.0 Well 3 25,000.0 30,000.0 Cum Prod (BOE) Cum Prod…
Impact of Downtime on Q4 2013 Muskeg Wells Red Line Cum Production vs Producing Days Green Line Cum Production vs Calendar Days 18,000.0 14,000.0 16,000.0 Well 7 12,000.0 Well 8 14,000.0 Tied in: 2013-12-12 10,000.0…
Well 9: First Well drilled in Q1 2014 (97% uptime) 18,000.0 16,000.0 14,000.0 12,000.0 Tied in: 2014-03-05 Cum Prod (BOE) 10,000.0 8,000.0 6,000.0 First well in Q1 2014 97% uptime 4,000.0 Cum: 16,000 BOEs…
Well 10: Second Well in Q1 2014 (99% uptime) 10,000.0 9,000.0 8,000.0 7,000.0 Tied in: 2014-03-31 6,000.0 Cum Prod (BOE) 5,000.0 4,000.0 Second well in Q1 2014 3,000.0 99% uptime Cum: 9,500 BOEs 2,000.0…
Well 11: Third Well in Q1 2014 (99% uptime) 12,000.0 10,000.0 8,000.0 Tied in: 2014-04-23 Cum Prod (BOE) 6,000.0 Third well in Q1 2014 4,000.0 99% uptime Cum: 16,000 BOEs 2,000.0 - (7) - 7 14 Red Line…
Muskeg Stack per Stage Type Curve 35 Average Performance Curve New Type Curve Type Curve Old Curve Well Count 30 25 Production per Stage (BOED) 20 15 10 5 0 0 50 100 150 200 250 300 350 400 Producing Days 20
Muskeg Stack Economics Old Type Curve Current Type Curve DCET MM 4.0 4.8 Lateral Length (m) 1,200 1,500 Stages 12 15 IP30 (BOED) 255 310 %Oil 83% 80% Year 1 Decline 70% 70% Reserves (MBOE) 315 315 F&D (/boe) 12.70 15.23 PV10…
Why Invest In Strategic Mapped over 1 Billion bbls of light OOIP in extensive & contiguous land base Infrastructure Projects completed: Processing capacity now at 10,000 BOED 100% owned & operated infrastructure with replacement value…
Corporate Information MANAGEMENT TEAM RESERVE ENGINEERS McDaniel & Associates Consultants Ltd. Gurpreet Sawhney, MSc, MBA, PEng President & CEO AUDITORS Deloitte LLP Cody Smith COO LEGAL Norton Rose Fulbright Canada LLP Aaron Thompson,…
Appendix Steen River- Year Round Development August 2, 2013 24
Maxhamish- NE British Columbia Reserves and Upside Potential 100 sections (38.16% WI in 27,846 ha) Non-Operated OOIP 500 MMbbls; 42 API oil Areal extensive sand with well control from 140+ wells, 25+ cores Depth: 1670m, Thickness:…
Maxhamish - Vertical Well Performance Vertical well 11 year production IP30: 60 BOPD Cum to Date: 56,000 BOE Months 28
Maxhamish - Horizontal Well Performance Horizontal well 2.5 years on prod IP30: 60 BOPD Cum to Date: 46,000 BOE Months 29
Cameron Hills, NWT, Canada Well K74 C19 Well Production: 1.5 mm bbl; 4.4 bcf gas 14 metres Gross Pay C19 flowed/swabbed after perfs & acid 115 bopd C19 Well K74 Well K74 Well 29 m. Gross Pay Sulphur Point…
Bistcho 10-9 10 -9 Slave Point and Sulphur Pt Gas Production Significant Slave Point oil recompletion program 31