VALUE I GROWTH I INNOVATION Peters & Co. Limited 2014 Energy Conference Glen Schmidt President and CEO September 9 - 11, 2014
Laricina Advantages Significant, High Quality In 540,000+ bbl/d net production potential, with medium-term target of 42,500 bbl/d net Situ Asset Base 3.9 bn of contingent resources and 0.5 bn probable reserves(1) First carbonates…
Corporate Profile Capitalization (July 24, 2014) Basic 69.7 million shares Officer & director ownership (1) 6.4% of basic Fully diluted 77.0 million shares June 30, 2014 working capital 218.5 million Credit Facility 15 million…
Re-Shaping Albertas Oil Sands Leader in advancing the commercial development of the Grosmont Formation and Grand Rapids Formation in the west Athabasca region Established in situ producer with two projects producing…
Unique Assets, Long-Term Value Concentrated operations at Germain and Saleski, achieve key synergies, minimize supply costs In close proximity to transportation infrastructure, Volumes marketed to nearby KOCH MUSKWA GRAND…
Financial Flexibility Working capital at June 30/14 220 million provides financial flexibility Estimated 80 million left to spend in 2H 2014 of capital and operating spending program Limited spending commitments outside of ongoing…
Germain Commercial Demonstration Project (CDP) Small-scale project intended to progress understanding in the Grand Rapids, test and demonstrate project execution, start-up procedures, well placement and recovery processes Germain…
Demonstrating Commerciality at Germain The Grand Rapids is a regional shoreface Area: 44,161 acres, 100% w.i. deposit, clean sand, homogenous and 2P Best Estimate Project Design continuous - lends to predictability and Reserves…
Production and Well Placement at the Germain CDP Producing from well-pairs with producer wells in the bitumen zone is economic Incremental value added using SC-SAGD and recovery from basal water zone Germain priorities: Continue to…
Germain CDP Bitumen Well Forecast vs Actual Production Well Type Curve for Bitumen Wells SAGD and SC-SAGD Production continues to ramp- up in well-pairs 8, 9 and 10 Production volumes and SOR tracking current forecast Daily…
Germain CDP Operational Update Well-pair 7 converted to SAGD production Measure and evaluate performance of SAGD in bitumen zone Q3 2014 wells and set baseline Solvent injection (SC-SAGD) started in well-pair 10 Measure and…
Saleski Pilot and Phase 1 Saleski pilot February 2014 Proven commerciality calendar day oil rates, SOR, costs Pilot providing roadmap to commercial production at Saleski Phase 1 Repeatable, predictable performance Recipient of…
Success at Saleski 2P Reserves Best Estimate Project Saleski pilot, April 2012 Contingent Design Formation (net bn bbl)(1) Resources Capacity (net bn bbl)(1) (gross bbl/d)(1) Grosmont 0.1 1.5 312,500 2C well continues to perform…
Saleski Pilot Operational Update Saleski pilot well head May 2013 Test electrical submersible pump for artificial lift in 1C-s well Q3 2014 Continue producing C wells Second production cycle and complete third injection cycle for…
Validating and Forecasting Well Performance at Saleski Pilot Laricina has developed a forecasting tool to predict C-SAGD bitumen production from cumulative steam injected Based on heat conduction theory and gravity drainage…
Grosmont Commercial Targets* Moving from pilot to C zone bitumen D zone bitumen commercial-scale project production production - Increasing length of wells 500 bbl/d 250 bbl/d - Increasing steam capacity and injection rates -…
Saleski Phase 1 Commercial Plan C-SAGD: Single well horizontal cyclic recovery Competitive with McMurray projects Saleski Phase 1 details: Bitumen target capacity, 10,700 bbl/d, installed SOR 3.9 Current management cost estimate,…
Saleski Phase 1 Commercial Plan Compares Favorably to In Situ Projects Saleski Phase 1 combined C In Situ Capital Efficiencies per Vintage (Upstream Only)* and D zones, approximately 500 - 750 bbl/d, target SOR 3.0 3.5 Current…
Competitive Market Access, Variety of Choices Truck locations provide flexibility and price competition for Saleski and Germain delivery options Sufficient truck/rail terminal capacity expected to be in place for production…
Next 12-18 Months Expected Milestones Saleski Germain Ongoing C-SAGD optimization (acidization, block Re-evaluate and potentially re-drill basal water steaming, electrical submersible pumps) zone well Continue to test interaction…
Projects Producing in the Grosmont and Grand Rapids Germain CDP is latest and largest SAGD project producing bitumen in the Grand Rapids Saleski pilot has proven the Grosmont can produce bitumen at competitive, commercial rates…
Significant Definitions In this presentation the reserve and recoverable resource numbers, along with the net present values given, are as defined in the report of GLJ Petroleum Consultants Ltd. (GLJ) regarding certain of Laricinas…
Contact Us Laricina Energy Ltd. 800, 425 1st Street SW Calgary, Alberta T2P 3L8 403-750-0810 www.laricinaenergy.com laricinalaricinaenergy.com September 9-11, 2014 NEXT STEPS 25
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