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AGM 2013 – Corridor Resources Inc.

Corridor Resources Inc. · May 10, 2014 · 20 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. AGM 2013 – Corridor Resources Inc. – slide 1
    AGM 2013 MAY 10, 2013
  2. AGM 2013 – Corridor Resources Inc. – slide 2
    Highlights - Introduction Eastern Canadian E&P Company with enormous upside potential & sustainability Three high-impact plays at various Anticosti 900,000 Net Acres stages of maturity TSX Symbol CDH Old Harry - 88 million…
  3. AGM 2013 – Corridor Resources Inc. – slide 3
    Eastern Canada Focused Large, relatively unexplored area with significant resource potential Commanding land position of 1.5 million net acres in Eastern Canada Licenses for high-impact prospects range from approximately 4-8 years…
  4. AGM 2013 – Corridor Resources Inc. – slide 4
    2012 Financial Results in thousands 2012 2011 Average gas price (Q4 5.63/mscf) 4.05 5.17 Production (mmscfpd) 9.0 11.5 Sales 14,795 22,993 Net G&A 3,021 4,247 Production expenses 2,982 3,969 Capital expenditures 3,763 8,951 Cash flow…
  5. AGM 2013 – Corridor Resources Inc. – slide 5
    Q1 2013 Netback Q1 2013 Q1 2012 Netback (/mscf) Average gas price 10.19 4.16 Transportation expense 1.23 1.21 Royalty expense 0.65 0.01 Production expense 0.96 0.88 Netback 7.35 2.06 Production (mmscfpd) 8.5 9.9 5
  6. AGM 2013 – Corridor Resources Inc. – slide 6
    Q1 2013 Financial Results in thousands Q1 2013 Q1 2012 Sales 8,114 4,156 Cash flow from operations1 5,261 1,290 Net working capital (cash 12.5M) 15,075 10,055 Net income/(loss) 2,529 (1,654) Net income/(loss) per share - Basic and…
  7. AGM 2013 – Corridor Resources Inc. – slide 7
    2013 Outlook in thousands 2013 Production (mmscfpd) - net 7.7 Netback (/mscf) Average gas price (2012 actual 4.05/mscf) 6.70 Transportation expense 1.24 Royalty expense 0.18 Production expense 1.21 Netback (2012 1.88/mscf) 4.07 Sales…
  8. AGM 2013 – Corridor Resources Inc. – slide 8
    2012 Summary Corridor completed Anticosti core program (with partner), including 3 stratigraphic coreholes, with positive results indicating TOCs at 4% average Reduced G&A costs and capital program in 2012 due to low gas prices to…
  9. AGM 2013 – Corridor Resources Inc. – slide 9
    2012 2013 Industry Challenges Corridors Status Prolonged low N.A. natural gas pricing N.A. Supply/demand more balanced; N.A. cycle created by supply overhang pricing improving & higher N.E. premiums Dry gas resource plays currently…
  10. AGM 2013 – Corridor Resources Inc. – slide 10
    Corridor N.B. Assets Corridors New Brunswick gas assets connected to M&NP with access to premium N.E. markets and Repsols LNG facility in N.B. Premium netbacks due to strong basis differential. Q1 2013 netback averaged…
  11. AGM 2013 – Corridor Resources Inc. – slide 11
    Infrastructure in Place East Coast 11
  12. AGM 2013 – Corridor Resources Inc. – slide 12
    North East Gas Prices Anticipate elevated premium to Henry Hub for next several years Anticipate supply short fall for market in Maritimes served by MNP CNG & demand growth in Maritimes pushing up supply shortfall 12
  13. AGM 2013 – Corridor Resources Inc. – slide 13
    Strategic Priorities Advance our three high impact prospects by sourcing J.V. arrangements Maintain licenses for Corridors high impact prospects Continue to mature our prospects within available capital Maximize cash flow and ensure…
  14. AGM 2013 – Corridor Resources Inc. – slide 14
    McCully/F.B. Shale Exploration & Development Area Over 300,000 net acres in N.B.; high working interests Frederick Brook shale gas: - 67 TCF gross discovered resources (best estimate) Producing up to 12 mmcf/d gross from McCully…
  15. AGM 2013 – Corridor Resources Inc. – slide 15
    Frederick Brook Shale Highlights Proven producibility, peaking at 12 mmcf/d from Green Road well Up to 600 bcf potential resources of shale gas per section (TerraTek analysis) Up to 1100 m in gross thickness Upside in overlying sands…
  16. AGM 2013 – Corridor Resources Inc. – slide 16
    Anticosti Macasty Liquids-Rich Shale Highlights Over 1.5 million continuous gross acres licensed Large areas of the Island within the liquids window Schlumberger petrophysics estimates 80% Soil and 6% effective porosity Depth 2300 6500…
  17. AGM 2013 – Corridor Resources Inc. – slide 17
    Anticosti Macasty Shale Oil Large Untested Liquids Thickness of Macasty Shale ranged from 31 to 92 metres on 3 coreholes drilled in 2012 program Coreholes show 4% average TOC Additional analysis expected soon (rock parameters…
  18. AGM 2013 – Corridor Resources Inc. – slide 18
    Old Harry Highlights One of the largest undrilled geological structures in Eastern Canada (43,000 acres/67 sq miles) under simple four-way closure Several direct hydrocarbon indicators identified: satellite seepage slicks,…
  19. AGM 2013 – Corridor Resources Inc. – slide 19
    Old Harry Prospect Highlights Potential for good primary reservoir in Bradelle Formation Very thick secondary reservoir, Brion Island Formation Thick light-oil source rock Miles NFLD exploration well targeted 20 for 2015/2016,…
  20. AGM 2013 – Corridor Resources Inc. – slide 20
    Old Harry Regulatory Summary Corridor submitted its Old Harry Exploratory Drilling Project Description and Environmental Assessment (E.A.) to the C-NLOPB in February 2011 C-NLOPB eventually (with Federal Environment Ministers…

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