Highlights - Introduction Eastern Canadian E&P Company with enormous upside potential & sustainability Anticosti Three high-impact prospects at 900,000 Net Acres various stages of maturity McCully production generates…
Infrastructure in Place East Coast 3
Eastern Canada Focused Large, relatively unexplored area with significant potential Commanding land position of 1.4 million net acres in Eastern Canada Licenses for high-impact prospects range from 3-7 yrs + Gas production…
Three High Impact Prospects Anticosti Macasty shale prospect has 20 Bboe net undiscovered resources of petroleum (best estimate); promising results from 2012 core program Corridors Old Harry offshore prospect is one of the…
Corridor N.B. Assets Corridors N.B. assets connected to Boston markets and LNG facility in N.B. Premium Netbacks - Q1 2013 av 7.35 - Q4 2013 av 5.50 Premiums in Maritimes & Boston to remain strong through 2017 Potential for LNG…
McCully/F.B. Shale Exploration & Development Area Over 225,000 net acres in N.B. Frederick Brook shale gas: - 67 TCF gross (59 TCF net) discovered resources (best estimate) Producing up to 11 mmcf/d gross from McCully area -…
Frederick Brook Shale Highlights Proven producibility - G-41 well IP 12 mmcf/d - F-58 well producing for 5 yrs low decline from small frac Up to 1100 m in gross thickness Upside in overlying sands O-59 Elgin vertical well has…
Anticosti Macasty Liquids-Rich Shale Highlights Over 1.5 million gross acres licensed ( 0.9 million net acres) Anticosti 900,000 Net Acres Thickness of Macasty Shale ranged from 31 to 92 metres on 3 coreholes drilled in 2012…
Anticosti Macasty Shale Oil Large Untested Liquids Schlumberger analysis indicates 6% effective porosity with 80% Soil Coreholes show 4% average TOC Additional frac analysis on-going to design & optimize program Quebec Govt…
Old Harry Highlights One of the largest undrilled geological structures in Eastern Canada (43,000 acres/67 sq miles) under simple four-way closure Anticosti 900,000 Net Acres Several direct hydrocarbon indicators identified:…
Old Harry Prospect Highlights Potential for good primary reservoir in Bradelle Formation Very thick secondary reservoir, Brion Island Formation Thick light-oil source rock NFLD exploration well targeted for 2015/2016, pending…
Old Harry Regulatory Summary Corridor submitted its Old Harry Exploratory Drilling Project Description and Environmental Assessment (E.A.) to the C-NLOPB in February 2011 C-NLOPB & Federal Energy Dept required a Strategic…
Q3 2013 YTD Netback Q3 2013 Q3 2012 Netback (/mscf) Average gas price 6.49 3.53 Transportation expense 1.27 1.23 Royalty expense 0.22 - Production expense 1.04 0.92 Netback 3.96 1.38 Production (mmscfpd) 8.2 9.0 Q1 2013 average gas…
Q3 2013 YTD Financial Results in thousands Q3 2013 Q3 2012 Sales 15,532 9,833 Cash flow from operations1 7,823 2,024 Net working capital (cash 14.2M) 16,190 9,061 Net income/(loss) 1,863 (5,866) Net income/(loss) per share - Basic…
Strategic Priorities Advance three high impact prospects by sourcing J.V. arrangements & with CDH working capital Implement 2014 program for additional production at McCully from both Hiram Brook and F.B. Shale Maximize cash flow…
North East Gas Prices Anticipate elevated premium to Henry Hub for next several years Anticipate supply short fall for market in Maritimes served by MNP CNG & demand growth in Maritimes & NE pushing up supply shortfall Forward…
CDH 2-Yr Performance Shares outstanding 88 mm Options outstanding 3.5 mm Cash position (12/2013) 16 M Market Cap 120 M 18
Summary & Catalysts Corridor has excellent upside potential combined with sustainability Focus on de-risking high-impact prospects & maintaining cash flow from McCully assets Corridor is well positioned to capitalize on its potential…
Disclaimer, (contd) Resources Disclosure discovered resources is that quantity of petroleum that is estimated, as of a given date, to be contained in known accumulations prior to production. The recoverable portion of discovered…
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