1. Company Strategy 2. Light Oil Bakken/Torquay, Antler, Saskatchewan 3. Liquids-Rich Montney, Kakwa-Resthaven, Alberta 4. Oil Shale 5. St. Lawrence Lowlands, Quebec 6. Outlook 2
Leverage extensive tight rock/shale rock expertise to acquire tight resources early and develop reserves First mover in shale gas acquired acreage in Quebec almost 5 years ahead of industry Invited speakers at domestic and…
Portfolio to create value in the short, medium, and long term 4
Southeast Saskatchewan Proven Bakken/Torquay tight oil production with strong netbacks Western Alberta Liquids-rich Montney natural gas resource play with exceptional economics Utah & Wyoming Oil shale commercialization project in…
Operating and Financial Results Capitalization and Liquidity For the 12 months ended December 31, 2013 31.9 million (April 1, 2014) 336 million Nil 13.2 million 23,385,617 10% 241,271,674 90% 885 264,657,291 77% 75.41 (average exercise…
Established tight oil asset targeting Bakken/Torquay resource play High value reserves Sweet Spot NPV-10/bbl of 38.48/bbl based on 2P reserves of 1.8 million barrels and 69 million NPV-10 as at December 31, 2013(1) 2013 netbacks of…
Questerre Pool Secondary recovery scheme has been successfully applied in adjacent Bakken/Torquay pool in Manitoba with a projected increase in recovery from Adjacent Pool 9% to between 16% - 24% Low energy reservoir (very limited…
Questerre Pool Secondary recovery scheme has been successfully applied in adjacent Bakken/Torquay pool in Manitoba with a projected increase in recovery from Adjacent Pool 9% to between 16% - 24% Low energy reservoir (very limited…
2,500 boe/d discovery well in 2012 creates new core area in west central Alberta Montney play is approximately 500 km long by 90 km wide One of the largest oil and gas fields in world Gas, oil and liquids- rich windows similar to…
Sweet spot of the play is overpressured, liquids-rich area High liquids, particularly condensate key to robust play economics Questerre has built a significant land position in the sweet spot of this fairway Acquired 72 gross sections…
New energy paradigm makes access to 140 bbl 100/bbl customers a critical path item (90%-100%+ of WTI/bbl) 5 bbl 100/bbl Questerre strategy is to secure access (90%-100%+ of WTI/bbl) to all aspects of value chain Processing facilities…
Wellhead Condensate Rate bbls/MMcf First three wells have tested at rates of 2,500 to 1,400 boe/d with over 40% condensate Liquids rates from first wells have averaged 140-190 bbls/MMcf over 2013 Economic Sensitivities Gas production…
Questerre wells have targeted upper two prospective intervals in the Montney Industry reported results from other interval indicates they are just as productive Partners reported offsetting well tested at 100 bbls/MMcf from upper…
Production and cumulative cash flow Illustrative development scenario based on 20 MMcf/d + liquids of firm processing capacity Initial capital investment of 80 million-100 million required in 2014/2015; NPV-10 390 million with…
Production and cumulative cash flow Illustrative development scenario based on 40 MMcf/d + liquids of capacity 20 MMcf/d firm capacity and 20 MMcf/d on interruptible basis Initial capital investment of 120 million-140 million…
Realizing benefits of learning curve earlier than originally expected Drilling and completion costs reduced from 10 million to about 8 million Further improvements expected with pad drilling and other efficiencies 24
Drill five wells on 100% acreage in Kakwa North and South in 2014 First well spud in February on Kakwa South and next expected to spud in Kakwa North after breakup in June Drill up to seven additional wells in 2014 (1.75 net) with…
Major resource on cusp of commercial development Estimated 2.8-3.1 trillion barrels in place worldwide with 2.1 trillion located in the United States(1) Questerre has an indirect interest in a US400 million joint venture with Total…
Innovative approach that moves the process to the rocks instead of moving the rocks to the process Incorporates benefits and avoids challenges of both surface and subsurface processes Dramatically improves economics Modeling indicates…
Pasquia Hills, Saskatchewan 100% interest in 39,000 high-graded acres at Pasquia Hills Commissioning resource report to be released this summer Wyoming SASKATCHEWAN 20% interest in 5,120 acre farm-in with Red Leaf holding an 80%…
Best estimate of 18 Tcf of prospective resource on acreage 4.4 Tcf net to Questerre(1) Approximately 50% shallower than Montney formation Premium gas market - realized prices 2-3X prices in Western Canada Tenure recently extended to…
Debate is rapidly shifting from if to how oil and gas development could happen Initial focus is on oil with government investing over 100 million in oil exploration Energy strategy advocates local production of hydrocarbons,…
Implement first phase of two-year plan to achieve 6,000 boe/d from Kakwa by mid-late 2015 Drill up to 5 wells on 100% acreage first well currently drilling with results expected early summer Drill up to 7 (1.75 net) wells on joint…