LONG RUN PROFILE TSX: LRE Dividend: 0.0175/ share/ month* Shares Outstanding: 193.5 million 2015 Production Guidance: 35,000 36,000 Boe/d (44% oil + NGLs) * Starting with January 2015 dividend payable in February 2
CORPORATE STRATEGY Provide long-term value to shareholders through a sustainable dividend model Focus on operational efficiency and capital discipline Maintain balanced production mix and opportunities 3
BUSINESS PLAN Improve our balance sheet through a focused high-grade development program and selective non-core dispositions Execute a focused capital program that preserves our momentum going forward, both in conventional field…
2015 CORPORATE GUIDANCE Focus on execution of a sustainable 2015 Guidance(1) business model Surplus funds flow applied to debt Production average (Boe/d) 35,000 36,000 Target of 1,000 4,000 Boe/d of % oil and NGLs 44% divestitures to…
ASSET BASE October 2014 Production (estimated) Peace River Area Montney oil 13,850 Boe/d Northern Gas (55% Oil & NGLs) (Bluesky) ALBERTA Edmonton Area Viking oil Peace River Area 8,200 Boe/d (Montney) (60% Oil & NGLs) Deep…
2015 DEVELOPMENT PLAN Capital Expenditures Millions Capital Expenditures (by area) Well Capital 115 15 Plant & Facilities 20 wells Deep Basin 25 Peace River Other* 30 wells Redwater TOTAL 165 Other *Includes Geology &…
ENHANCED OIL RECOVERY (EOR) Waterflood Current Waterflood Pilots Major oil projects under waterflood Pilot Expansion of Area Formation Comments Start Date Start Date Injectors Cost effective reserve additions This initial phase…
PEACE RIVER MONTNEY Normandville/Girouxville Montney horizontal oil development 950m vertical depth October estimated production of 11,100 Boe/d (60% oil and NGLs) Normandville Medium gravity oil (28o API) Normandville Oil…
DEEP BASIN CARDIUM Pine Creek/Edson Cardium horizontal light oil development 1,800m - 1,900m vertical depth Bluesky horizontal liquids-rich natural Pine Creek gas development 13-09 LRE Battery/Compressor Station 2,400m vertical…
DEEP BASIN Kakwa/Wapiti Cardium horizontal liquids-rich natural gas 1,000m - 1,600m vertical depth October estimated production of 3,950 Boe/d (30% liquids) Liquids or NGL content of 40-50 Bbl/Mmcf First two-well pad at Kakwa…
REDWATER VIKING 07-21 Redwater North Oil Battery T59 Viking horizontal oil development 5,000 bbls/d 700m vertical depth 4.0 mmcf/d October estimated production of 4,700 05-17 Redwater North Redwater Boe/d (85% liquids) Compressor…
BOYER Bluesky natural gas 200m - 500m vertical depth October estimated production of 2,900 Boe/d (100% natural gas) Shallow decline (8%/year) 690,000 net acres Current drilling density less than 1.5 wells per section under…
RISK MANAGEMENT Costless Collars Volume Pricing October 1, 2014 December 31, 2014 2,000 Bbl/day WTI US 88.00 - 92.50/Bbl Financial hedges mitigate risk October 1, 2014 December 31, 2014 2,000 Bbl/day WTI US 88.00 - 92.60/Bbl…
2014 CORPORATE GUIDANCE 2014 Updated Guidance (at November 5, 2014)(1)(2) Guidance includes estimated Production average (Boe/d) 31,400 results from the Deep Basin acquisition assets for 7 months % oil and NGLs 49% and the Crocotta…
TAX POOLS Tax Pools Maximum Annual Deduction Millions Capital Cost Allowance (UCC) Up to 25% 370 Canadian Oil & Gas Property Expense (COGPE) Up to 10% 440 Canadian Development Expense (CDE) Up to 30% 630 Canadian Exploration…
CORPORATE INFORMATION TSX:LRE Contacts Bill Andrew Chair & CEO (403) 261-6012 Dale Miller President & COO (403) 261-6012 Corine Bushfield Senior Vice President & CFO (403) 261-6012 Dale Orton Senior Vice President, Development…
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