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CORPORATE PRESENTATION – Manitok Energy Inc.

Manitok Energy Inc. · Feb 1, 2014 · 31 slides

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Slides

  1. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 1
    Manitok Corporate Presentation February 2014
  2. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 2
    Corporate The CompanySnapshot MEI on TSX-V Market Capitalization at 2.40/share 175 million Common Shares Outstanding 73,041,506 Options (wgt avg exercise price of 2.08/share) 6,369,740 Insider Ownership, Undiluted / Diluted 6.2% /…
  3. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 3
    Corporate Strategy Focus on Areas with Underexploited Conventional Reservoirs Has been a proven, successful strategy for decades; Less reliance on new equity to drive production and reserves growth due to short pay back periods and…
  4. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 4
    Exceptional Production Growth Average Production Volumes by Quarter (boe/d) 8,000 Disposition of Central AB Natural Gas Assets (777 boe/d) 7,000 6,000 Gas (boe/d) Oil & liquids (bbls/d) 5,000 Disposition of Successful…
  5. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 5
    Growth Continues in 2014 2012 Annual Annual Actual 2013 Guidance Increase 2014 Guidance Increase Production Annual (boe/d) 2,389 4,000 4,100 70% 6,000 6,200 50% % Oil and liquids 40% 52% 30% 62% - 65% 21% Exit rate (boe/d) 3,860…
  6. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 6
    Outstanding Value ATTRACTIVE DEBT ADJUSTED CASH FLOW MULTIPLE EV / 2014E DACF (1)(2) 10.0x 9.0x 8.0x 7.0x EV / 2014E DACF (x) 6.0x Avg. EV / 2014E DACF: 5.0x 5.0x 4.0x MEI 3.0x MEI 2.0x 1.0x…
  7. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 7
    Pristine Balance Sheet FINANCIAL STRENGTH AND FLEXIBILITY CURRENT NET DEBT / 2014E CASH FLOW (1)(2)(3) 5.0x 4.0x Debt / 2014E Cash Flow (x) 3.0x Avg. Net Debt / 2014E CF: 1.8x 2.0x 1.0x MEI 0.0x -2.4x…
  8. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 8
    Board of Directors The People Bruno Geremia, C.A. - Chairman VP Finance & CFO, Birchcliff Energy (BIR TSE) Robert J. Dales Director of Kelt Exploration (KEL-TSX) and Arcan Resources (ARNTSX) Massimo Geremia President & CEO, Manitok…
  9. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 9
    Experienced Management Team Massimo Geremia, President & CEO 21 years of public company experience in Oil &Gas, Real Estate and Finance; previously with Birchcliff Energy Ltd., Equatorial Energy Inc. & Boardwalk Equities Inc.; Cameron…
  10. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 10
    Stolberg Stolberg Cardium Focus Oil - 3,500 bbls/d Stolberg field reached 3,500 bbls/d of net oil production in Structural February 2014; Cross-section Drilling continues at Stolberg at a pace of about 1(0.65 net) well every 4 to…
  11. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 11
    Stolberg Cardium Structure Backlimb - 80% of production and drilling to date has been delineating the main backlimb of the Stolberg structure; deepest well penetrations in the field suggest this main backlimb is up to 1200m in…
  12. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 12
    Quirk Creek Cardium Oil 1st Cardium farmin well tested at 200 bbls/d of light oil; 2 Cardium wells drilled to date; Earned 70% of 14 sections (6,272 net acres) with 2 drills; The 2 wells will be on production in March 2014 and…
  13. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 13
    Large Scale Opportunity at Entice New Pool Log Leads 55 have been identified. R 25 24 23 Mannville well density plotted on map Swallwell Nisku Pools Viking Wbmn Swalwell Cum 5 MMBO Nsku Wayne A Pool Glauconitic D-1 A Pool 17 wells,…
  14. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 14
    Balanced Corporate Risk/Reward Two Core Areas Reduce Risk Profile and Increase Exposure to Oil Targeting a higher oil weighting, a production level above 10,000 boe/d and a large transparent drilling inventory will improve market…
  15. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 15
    Under-Exploited Multi-Zone Oil Significant Under-Exploited Oil Opportunities Manitok believes that the Glauconitic, Ellerslie (Basal Quartz), Pekisko, Nisku and other Devonian formations are very prospective for oil; Limited activity…
  16. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 16
    Initial Entice Drilling Locations R25 R23 Working on licensing 17 locations: Twp 28 2 vertical Nisku 10 14 potential vertical follow up locations 2 vertical Glauc 10 15 potential vertical/Hz follow up locations 3 horizontal Lithic…
  17. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 17
    Ellerslie (BQ) Hz Well Results Offsetting Low Rate Vertical Wells(1) CVE 100/11-15-27-18W4 Deviated RR 2009 Elrl Cum: 8,163 BO CVE 102/13-15-27-18W4 Hz CP: 3.5 bopd, IP: 18 bopd RR 2011 Elrl Cum: 113,667 BO CP: 116bopd, IP: 530…
  18. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 18
    IP90 (BOE/d) 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 800.0 100/4-16-27-19W4/0 100/13-28-27-20W4/0 2010 102/14-28-27-20W4/0 100/4-32-26-18W4/0 100/16-15-27-18W4/0 100/2-10-27-18W4/0 105/7-8-27-19W4/0…
  19. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 19
    Hz Frac Results in Glauconitic Reservoir IP90 Rates Cenovus Hz Drills 2010-2013 Bantry/Cessford Glauconitic (1) NCS Multistage 600.0 (uncemented, Hybrid) 2010 2011 2012 2013 NCS Multistage (cemented) 500.0 PP StackFRAC No…
  20. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 20
    Closing Summary Manitok will continue its growth in the foothills by using its technical knowledge and experience in the area at a time when there is little competition; Addition of the large land position in the Entice area…
  21. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 21
    Appendix 23
  22. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 22
    Hedging at February 28, 2014 Subject of Notional Average Contract Contract Quantity Remaining Term Reference Strike Price Traded Oil 500 bbls/d January 1, 2014 to December 31, 2014 CAD WTI 96.00 Swap Oil 500 bbls/d January 1, 2014 to…
  23. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 23
    Price Deck SPROULE - MARCH 31, 2013 - Prices in Canadian Dollars - 1 Synthetic 2 WTI Edmonton Crude Oil Cromer Hardisty Western Canada Cromer Energy Cost Cost Cushing Par Price Edmonton 34 LSB Lloydblend Select (WCS) Medium…
  24. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 24
    Analyst Coverage Acumen Capital Trevor Reynolds Clarus Securities Inc. Daniel Choi Dundee Capital Markets Chad Ellison GMP Securities Aaron Swanson Integral Capital Markets Rob Knowles Macquarie Capital Markets Canada Ltd. Ray…
  25. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 25
    1,000 Meter Hydrocarbon Column at Stolberg Main Stolberg structure Cordel structure Additional untested structures 1,000m Structural cross section through T42-15W5 showing both the Cordel and Stolberg Cardium pools along…
  26. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 26
    Manitoks Entice Area Appendix 28
  27. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 27
    Ellerslie (BQ) Production - Hz wells R26 R25 R24 R23 R22 R21 R20 R19 R18 R17 R16 R15 R14 R13 R12 R11 R10 R09W4 T30 Cenovus T28 Cenovus 02/13-15-27-18W4 05/07-08-27-19W4 IP30: 340bopd T29 IP30: 350bopd T27 Cenovus 02/16-27-26-18W4…
  28. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 28
    Ellerslie (Basal Quartz) Prospects 14 bypassed pay opportunities identified to date, ; Ellerslie (BQ) Wells are RED Modelled pool exhibits the following reservoir characteristics: - porosity of 12 - 18% - permeability of 10 - 250…
  29. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 29
    Attractive Nisku Prospect Swallwell Nisku D-2 A Pool discovered in 1969; Produced 4-1-29-24W4 (green dot on map) is in a separate pool 5 MMBO from the main pool and has produced 29,000 BO; Seismic interpretation indicates 4-1 is…
  30. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 30
    Many Glauconitic Channel Prospects Glauconitic Wells are GREEN 11 bypassed log leads initially identified ; channel prospects currently being validated by 3D seismic interpretation and reservoir rock analysis; Analogous production at…
  31. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 31
    Entice Glauconitic Analog Many identified log leads resemble Edge Well similar to the 12-22 well ( 1 on the cross section) F pool has produced a total of 6.2 MMBO since 2 going on production in 1981 from a total area of 1,043…

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