Overview of Gale Force Petroleum Inc. September 2013
GLOSSARY WI: Working interest Net: Figures which are net to Gale Force Petroleums working interest Risked: Figures which have been adjusted for probability of success per NI51-101 standards: PDNP and PUD: 90% probability PRUD: 50%…
EXECUTIVE SUMMARY Gale Force is a public company listed on the TSX Venture Exchange and the OTCQX with a market cap of 15.7M (1), Net Debt of 5M and enterprise value of 20.8M(1) Assets Gale Force has built an attractive portfolio of…
CORPORATE OVERVIEW Capital Structure Key Shareholders(4) All values in USD millions, except Share Price Shareholder Ownership (basic & preferred) Symbol TSXV:GFP / OTCQX:GFPMF (1) Toronto Family Office 5.6% Shares Outstanding (Basic &…
ASSET OVERVIEW - RESERVES Overview Texas Operations Gale Force owns and operates five separate properties in Texas and owns Operated Property working interests in two additional properties in Tennessee and W. Virginia Head Office…
ASSETS OVERVIEW PRODUCTION & DEVELOPMENT PLANS Gale Force has current net production of 254 BOEPD building up to 722 BOEPD through 11.6 million of capital investment Net Current Production (BOE) Net Risked BOEPD Profile 254 2 42…
ASSET OVERVIEW - WELL DEVELOPMENT PLAN Gale Force has identified locations for 29 development opportunities on three of its properties: Up to 154 net risked BOEPD from 17 PDNP rework/reactivations Up to 485 net risked BOEPD from 6…
OPERATING COSTS, NETBACKS AND FIELD CASH FLOWS Revenue figures are net of transportation and marketing costs Most of the Companys natural gas production is liquids-rich, which provides a much higher sales price than that for dry…
HISTORIC PRODUCTION & REVENUE Gale Force has a strong history of growing production and revenue Gale Force recently divested their Gregg & Rusk Counties Properties and Oklahoma Properties for an aggregate selling price of 6.5M with…
CATFISH CREEK OVERVIEW Reserves(1) & Current Production Netback Land Position BOE (MBOE) PV10 (mm) Oil Gas 3,834 gross acres PDP 119 3.6 PDNP 50 1.6 NYMEX 95.00 5.00 PUD 667 16.3 Adjustment 1.82 (0.31) 1P 837 21.5 Price 96.82…
CATFISH CREEK: RESERVOIR CORRELATIONS Buccaneer Oper. (West Mtn) Texaco Oper. Buccaneer Oper. (West Mtn) Buccaneer Oper. (West Mtn) Catfish Creek 3 Stevens /G/ 1 Catfish Creek 2 Catfish Creek 1 42-213-30975 42-213-30304 42-231-30946…
CATFISH CREEK DEVELOPMENT OPPORTUNITIES 2 PDNP reactivations, 4 PUDs, and 2 PRUDs Each successful PUD or PRUD could result in 5-6 additional PUD locations Management believes there are possibilities for 15 20 wells throughout Gale…
WOOD COUNTY PROPERTIES OVERVIEW GFPs wood county properties are comprised of 4,101 acres, with over 3,800 acres held by production Properties include Pine Mills, Gulftex, and Lisa Layne Gale Force owns between 87% and 100% working…
THUNDER DEVELOPMENT OPPORTUNITIES Currently one PDNP reactivation, but several additional infill wells can be drilled upon acquisition and interpretation of seismic data, in conjunction with existing well control Gale Force intends to…
NON-OPERATED PROPERTIES: MARCELLUS & TENNESSEE Marcellus Property is operated by a large public company with a 1+ billion dollar market capitalization Operators and favourable service contracts Overton Property is operated by Barrett…
LEASE OPERATING EXPENSES & DECOMMISSIONING LIABILITIES Wells Producing Saltwater Disposal PDNP Total Wells Net Decommissioning Property Active Active Inactive Inactive Gross Net Liabilities to GFP WI Colgate(1) 4.0 2.0 - - 6.0…
HEDGING STRATEGY The company has 45,000 barrels of oil hedged with swaps between July 2013 and December 2014 which will help ensure cashflow positive and profitable operations through that period. 3,500 barrels of oil hedged monthly…
ORGANIZATION STRUCTURE Board of Directors Reserves Committee Audit Committee Michael P. McLellan, CFA CEO Emery Johnson Guillaume Dumas, LL.B. COO CFO (Interim) Nancy Porter Controller Chief Techical Wood County…
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