Corporate Overview and Outlook December 2014 TSX:AET.un
Argent Energy Trust Snapshot Income: 29% cash-on-cash yield(1) Argents 2014E production is expected to average 6,500-6,600 BOE/d 67% oil and NGLs Argents 2015E production is expected to average approximately 6,500 BOE/d 70% oil and…
Corporate Overview (AET.un) Market Capitalization: 53 MM(1) Enterprise Value: 320 MM(1) Units Outstanding (basic): 63.5 MM Unit Price Range: 0.75 8.20 per unit Annual Distribution: 0.24 per unit (30% cash payout ratio) Current…
Exploring Strategic Alternatives Following an extensive review of the Trust's current unit price in the context of its operations, production and reserves, the Board of Directors has concluded that Argent trades at a substantial…
Argent Assets Diversified portfolio of opportunities in Asset Location Texas, Oklahoma, Kansas and Wyoming Texas, Oklahoma, Kansas and Wyoming oil Legacy fields Established long lived production Power River Basin Parkman and Turner…
2014 Reserve Information US (as of Sept 30, 2014) GLJ September 30, 2014 Reserves PDP PDNP PUD TP PROB TPP Company Interest 13,521 975 8,412 22,908 16,944 39,852 Oil Eq. (Mboe) % Liquids 78% 90% 49% 68% 61% 65% Working Interest…
Net Asset Value Information Net Asset Value (CMM) 1P 2P 1 Reserve Value, per GLJ 399.0 624.8 2 Land Value 4.4 4.4 3 Less: Credit Facility (122.1) (122.1) Net Working Capital4 (16.9) (16.9) Convertible Debentures5 (148.8)…
Production Highlights Q3 2014 production averaged 7,264 boe/d (65% oil and NGLs) Significantly exceeded guidance of 6,400-6,500 boe/d 14% increase over Q2 2014 volumes Reflects a series of successful workovers as well as new Eagle…
Areas of Operation Argent Energy Trust Total - Q3 2014 production of 5,745 net boe/d (7,264 WI) 63% oil, 4% NGL & 33% gas on net production - 18.3 NET MMBOE (22.9 CI) proved reserves, 70% oil & NGL - R/P = 8.7 yrs Q3 2014…
Reserves and Value by Region Net Production by Area WI Production by Area 6,000 8,000 982 7,000 Net Production (boe/d) 5,000 1,154 WI Production (boe/d) 840 985 1,018 995 676 6,000 1,189 1,168 0 673 0 787 4,000 566 667…
Marketing Differentials(1) WTI less 10-18 WTI less 5 WTI less 2-2.50 WTI plus 1 WTI less 1-1.50 WTI plus 5 NYMEX less 0.30 (1) Based on prices received in September 2014. Differentials vary monthly. 12…
Sales and Funds Flow Highlights Q3 2014 sales of 49.7 MM1 5% above previous high of 47.5 MM in Q2 2014 Q3 2014 funds flow from operations of 24.0 MM (0.38/unit) 52% above 15.8 MM (0.25/unit) recorded in Q2 2014 1. Oil and gas…
Acquisition History (all values in US) Acquistion Name Close Date Acquired Production1 Purchase Price Operating CF2 Capital Spent3 GLJ Reserve Value 4 (BOE/d) (MM) (MM) (MM) ( Q3 2014 MM) EQ Energy Oct 2012 900 131 23 3 91 Wapiti Dec…
Eagle Ford / Austin Chalk Fields Q3 2014 Production of 1,216 net boe/d (1,546 WI) 96% Oil & NGL Operations Completed in 2014 Eagle Ford / Austin Chalk Fields 6 Eagle Ford oil wells completed in Gonzales Upside Opportunities…
Gulf Coast Fields Q3 2014 Production of 2,871 net boe/d (3,777 WI) 39% Oil & NGL Operations Completed in 2014 2 Wilcox gas wells completed in South Escobas Recompletions Gulf Coast Fields Artificial Lift Upsize & optimization…
Mid Continent Fields Q3 2014 Production 676 net boe/d (787 WI) 86% Oil & NGL Operations Completed in 2014 No significant CAPEX has been spent in this area Successful polymer treatments in Arbuckle Mid Continent Fields Operational…
Powder River Basin Fields 261 Producing Wells on approximately 50,000 net acres 60 Argent operated wells 201 non-op wells Q3 2014 Production of 982 net boe/d (1,154 WI) 99% Oil & NGL Powder River Basin Fields Operations completed…
Powder River Basin Locator Formations with Horizontal Potential Current focus Source: Bill Barrett Corporation presentation at EnerCom 2013 TSX:AET.un 19
Powder River Basin Wyoming Parkman Upside Operators including Devon, EOG, Petro- Hunt, Yates and others have been actively developing the Parkman and Turner in the immediate area of Argent acreage. Argent has identified…
Powder River Basin Wyoming Turner Upside Operators including Devon, EOG, Petro- Hunt, Yates and others have been actively developing the Parkman and Turner in the immediate area of Argent acreage. Argent has identified…
Examples of 2015 Capital Opportunities Gulf Coast Texas AA Wells 5 infill drilling opportunities identified 1 well scheduled Newton Field 1 well scheduled Livingston Field 2 infill wells scheduled Manvel Field 1 infill well…
Summary Annual distribution paid in cash monthly 29% cash-on-cash yield Long life assets P+P Reserve Life Index (RLI) = 16.5 years(2) Proved RLI = 9.4 years(1) Control over operations (Argent office and field staff) and capital…
Contact: John Elzner, President and CEO Sean Bovingdon, CFO 500, 321 6th Ave SW Calgary, AB T2P 3H3 403.770.4809 infoargentenergytrust.com www.argentenergytrust.com TSX:AET.un
Appendix TSX:AET.un 25
Argent Advantage for U.S. Investors Current cash dividend C0.24/unit/year 65% Return of Capital (ROC) and 35% Qualified Dividend (2014 est) C-Corp. for tax purposes Form 1099 (versus MLP Schedule K-1 Form) No withholding tax for U.S.…
Structure Tax efficient mutual fund trust structure Interest and operating deductions result in no Unitholders Administrator Shareholder material U.S. taxes for several years No SIFT tax in Canada Investment Income and Capital…
Argent Energy Trust Executive Team Executive Background John Elzner Over 30 years of executive and management experience President and CEO Previous senior positions with El Paso Corporation and Coastal Corporation Senior Vice President…
Argent Energy Trust Board of Directors Director Background John Elzner See management bios President & CEO John Brussa Senior Partner & Head of the Tax Department of the law firm Burnet, Duckworth & Palmer LLP Director, Acting Chairman…
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