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CORPORATE PRESENTATION – Rock Energy Inc.

Rock Energy Inc. · Dec 1, 2014 · 31 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. CORPORATE PRESENTATION – Rock Energy Inc. – slide 1
    CONTINUING THE CONVERSATION HOW IS 2015 SHAPING UP FOR ROCK Pretty good, even if oil prices fall by 15%, our cash flow per share will grow by at least 20%. December 2014 RE:TSX w w w. r o c k e n e r g y. c a
  2. CORPORATE PRESENTATION – Rock Energy Inc. – slide 2
    Rock Energys Vision Develop a suite of assets that can provide a solid platform of predictable, sustainable cash flow with a long reserve life and low decline rates Focus on plays Develop a and reservoirs foundation of Implement…
  3. CORPORATE PRESENTATION – Rock Energy Inc. – slide 3
    Rock Energys Strategy Explore new technology to Focus on OIL Find plays Drill 60-80 increase exploration that are wells per year recovery and scalable and that we can factors from development repeatable afford within known…
  4. CORPORATE PRESENTATION – Rock Energy Inc. – slide 4
    Corporate Profile Stock exchange TSX Symbol RE Current stock price trading range 3.00-3.50/share Capital structure Common stock (basic) 40.4 MM (fully diluted) 43.5 MM Market capitalization 130 MM Total debt (Sept 30, 2014) 39.4 MM…
  5. CORPORATE PRESENTATION – Rock Energy Inc. – slide 5
    Rocks Focus and Future LUSELAND ONWARD Southwest Saskatchewan PRAIRIEDALE KERROBERT PLENTY Mantario EOR project DODSLAND NORTH Horizontal Viking project at Onward COLEVILLE SMILEY DODSLAND Ongoing exploration activities…
  6. CORPORATE PRESENTATION – Rock Energy Inc. – slide 6
    Mantario Current Status Drilled discovery well at 12-30 in October 2011 Assembled 33 sections of land on the play Shot 70 sq km of 3D Currently producing over 3,500 bopd On primary production, wells pay out in less than a year.…
  7. CORPORATE PRESENTATION – Rock Energy Inc. – slide 7
    Mantario Facilities completed in Q1/2015 and polymer injection begins Rock Land Existing Hz producers Existing vertical producers Q4 2014 in-fill Injection wells 2015 Hz locations 2014/2015 Facilities TSX: RE:CA w w w. r o…
  8. CORPORATE PRESENTATION – Rock Energy Inc. – slide 8
    Mantario Exploration and Development Upside 2015 Plans Drilling 17 million 4 additional vertical locations 12 horizontal producers 10 water injector conversions Facilities 4 million Pipeline gathering system Polymer injection…
  9. CORPORATE PRESENTATION – Rock Energy Inc. – slide 9
    Mantario Chemical/Polymer Flood (EOR) Mantario Production Forecast 4,000 3,500 Current production = 3,500 bopd 3,000 WTI = 80.00 US/bbl, flat 2,500 Generates over 50 MM/yr in Rate (boe/d) 2,000 free cash flow 1,500 1,000…
  10. CORPORATE PRESENTATION – Rock Energy Inc. – slide 10
    Mantario Exploration Near the Main Pool Rocks Mantario pool is essentially a shore face deposit that is geologically Clearbrook older in age than the original pool Polymer Flood discovery by Grad and Walker The analog pool…
  11. CORPORATE PRESENTATION – Rock Energy Inc. – slide 11
    Onward, Saskatchewan Viking Resource Play Mannville Lloyd Oil Current light oil production Current Mannville oil approximately 800 bopd production 600 bopd Light oil, high netback Low viscosity heavy oil Over 43 net sections Water…
  12. CORPORATE PRESENTATION – Rock Energy Inc. – slide 12
    Onward Viking Play 37 HZ wells to be drilled in 2H/15 Rock Land Rock Drilled Viking Horizontals to Date Completed Viking Oil Wells Vertical Viking Penetrations Hz wells to be drilled in remaining of 2014 Hz wells to be…
  13. CORPORATE PRESENTATION – Rock Energy Inc. – slide 13
    Onward Viking Well Production Performance More fracs per well is making a big difference Onward Well Performance 15 Stage Fracs vs. 18 Stage Fracs 70 15 Stage (14 Wells) 18 Stage (14 Wells) 60 Tier 5 Tier 6 Tier 7 50 Oil Rate…
  14. CORPORATE PRESENTATION – Rock Energy Inc. – slide 14
    Viking Development Well Characteristics Cost (DCET) 925K 975K Reserves (2P) 38mboe 50mboe Production Profile Tier 5 - 7 Initial Production Rates 50-70 bopd IRR 45% - 120% NPV (Btax 10%) 0.7MM 1.5MM GLJ Oct 2014 Price…
  15. CORPORATE PRESENTATION – Rock Energy Inc. – slide 15
    Onward Viking Current Status Over 43 net 41 HZ wells Current production sections with drilled to date approximately 800 34 sections bopd from 33 wells de-risked New drilling and Average IP 30 500 potential completion…
  16. CORPORATE PRESENTATION – Rock Energy Inc. – slide 16
    Onward 2015 Viking Plans Spend 51MM Drill 45-50 wells (Only 9-10 in Q1) Refine the drilling/completion technique for increased reserves Work to reduce capital and operating costs TSX: RE:CA w w w. r o c k e n e r g y. c a
  17. CORPORATE PRESENTATION – Rock Energy Inc. – slide 17
    Onward Viking Play Potential Development Scheme (Tier 6) Build Production to 1,200 bopd in 2015 Continue to grow production for 10 years at 15% per year Need 410 of our 500 identified drilling locations Generating free cash flow…
  18. CORPORATE PRESENTATION – Rock Energy Inc. – slide 18
    Onward Mannville 33 section 3D siesmic program to further develop pools and confirm exploration leads Rock Land Rock Producing Lloydminster wells Rock New Lloydminster Pool discovery well Rock Future Potential wells Existing…
  19. CORPORATE PRESENTATION – Rock Energy Inc. – slide 19
    Onward Mannville Typical Well Characteristics Cost (DCET) 750K Reserves (2P) 70 mboe Initial Production Rate 50 boepd IRR 110% NPV (Btax 10%) 1.2MM Pay Out 14 months GLJ Oct 2014 Price Deck TSX: RE:CA w w w. r o c k e n e r g…
  20. CORPORATE PRESENTATION – Rock Energy Inc. – slide 20
    Onward Mannville Program Current Status Current production 600 bopd New Lloyd pool discovered with 11-16 (West Onward) New Bakken pool discovered with 7-16 2015 Plans Shoot 33 section 3D seismic program Spend 7-10 MM (including…
  21. CORPORATE PRESENTATION – Rock Energy Inc. – slide 21
    2015 Capital Budget Total 2015 Capex: 90 MM 70-75 net wells planned 14 MM 17 MM Exploration Mantario Drilling 4 MM 4 MM Mannville Mantario Facilities Development 51 MM Onward Viking TSX: RE:CA w w w. r o c k e n e r g y.…
  22. CORPORATE PRESENTATION – Rock Energy Inc. – slide 22
    Western Canada Select Price 1,000 bpd hedged until December 31, 2014 at average 100.00 WCS price of Cdn84.70/bbl 90.00 80.00 Cdn/bbl 70.00 60.00 50.00 40.00 TSX: RE:CA w w w. r o c k e n e r g y. c a
  23. CORPORATE PRESENTATION – Rock Energy Inc. – slide 23
    Q3/2014 Operating Netback (/boe) Corporate Mantario Viking Average Average realized 75.56 77.22 92.72 price () Royalties () 20.90 21.39 6.60 Operating expense 14.03 10.84 16.48 () Field netback () 40.63 44.99 69.64…
  24. CORPORATE PRESENTATION – Rock Energy Inc. – slide 24
    Results and Guidance Q1 2014 Q2 2014 Q3 2014 2014 Forecast 2015 Forecast Production Avg. (boepd) 4,899 4,988 4,747 4,900-5,100 5,300-5,500 % oil 94 95 95 95 95 Realized Price (/boe) 73.58 82.45 75.76 74.69 70.00 Operating Costs (/boe)…
  25. CORPORATE PRESENTATION – Rock Energy Inc. – slide 25
    Sustainability Model Base Production Mantario 3,300 Onward Viking 1,500 Total 4,800 Total Viking Decline (bopd) 600 Viking Wells Drilled to Arrest Decline 20/yr Capital Required to Arrest Decline 20 MM Gross Cash flow (50.00/bbl…
  26. CORPORATE PRESENTATION – Rock Energy Inc. – slide 26
    Rock Energy Essentials We are an oil company with a solid growth platform An oil pool at A new Viking light Numerous A strong balance Mantario being oil discovery at exploration sheet positions developed with a Onward in the prospects…
  27. CORPORATE PRESENTATION – Rock Energy Inc. – slide 27
    SUPPLEMENTARY INFORMATION R ET:STXS:X R E : C A w w w. r o c k e n e r g y. c a
  28. CORPORATE PRESENTATION – Rock Energy Inc. – slide 28
    Strong Management Team/Board Management Team Directors Allen J. Bey Stuart G. Clark President and CEO Chairman of the Board Jeffrey G. Campbell Richard J. S. Wigington Senior Vice President and COO Robert A. Maitland Todd Hirtle…
  29. CORPORATE PRESENTATION – Rock Energy Inc. – slide 29
    Market Profile TSX Stock Symbol RE USA OTC RENFF Shares Outstanding Basic 40.4 million Fully diluted 43.5 million Ownership Basic Fully Diluted Management & Directors 7.1% 11.0% Recent Trading Range 3.00 - 3.50 Market…
  30. CORPORATE PRESENTATION – Rock Energy Inc. – slide 30
    Drilling Results 2014 YTD 2012 2013 November 5, 2014 Mannville Oil 17 (17.0 net) 31 (30.0 net) 26 (26.0 net) Light Oil 10 (10.0 net) 31 (31.0 net) Natural Gas Nil Nil Nil D&A 3 (3.0 net) 4 (4.0 net) 5 (5.0 net) Service Wells…
  31. CORPORATE PRESENTATION – Rock Energy Inc. – slide 31
    Analyst Coverage Company Rating Analyst FirstEnergy Out Perform B. Fitzmartyn Alta Corp Out Perform T. Matthews Paradigm Capital Buy K. Lin GMP Capital Buy G. Daunheimer Acumen Buy T. Reynolds Dundee Buy C. Ellison Haywood…

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