BUILT TO LAST September, 2014 Proforma the Second Wainwright Acquisition which was announced on September 2, 2014 which is scheduled to close Sept 30, 2014
Cardinal Energy Ltd. Cardinal Energy Ltd. (Cardinal or the Company) is an oil focused Canadian company built to provide investors with Growth and a Sustainable dividend. Trading Symbol: TSX: CJ Shares Outstanding: 56,654,104(1) (as…
A Sustainable Platform Built a Solid Base Base production decline rate less than 10% 97% operated production, 90% working interest, 90% oil production Growth Long term…
Conservative Balance Sheet Corporate goal to always maintain a ratio of less than 1.0 x net debt to cash flow from operations Provides flexibility to acquire additional assets on an accretive basis Will use balance sheet as required…
Managing Our Production Growth Profile Balance between Growth and Decline Free Cash Flow Spending Allocation 30% 100% Drilling 20% Production growth 10% Target 100% Acquisitions 0% 10% 15% 20% 25% Production Decline…
Operating the Business Pro-forma (annualized) (1) Amount of capital required to keep CAPEX 45.0 MM production flat year over year Cash flow from Dividend 48.4 MM Target 30 35% Operations Payments simple payout ratio Free…
Q2 Performance 2014 SECOND QUARTER PERFORMANCE Three months ended, FINANCIAL JUNE 30, MARCH 31, % CHANGE 2014 2014 (thousands except per share Q2 Capital Expenditures: amounts) Petroleum and natural gas Drill Complete and…
Netback Op costs projected to increase in Q3 and Q4 due to acquisitions (1) See Advisory located at the end of the presentation. 9 9
Quarterly Production Growth 10,821 Forecast Forecast 10
Cardinal Assets Solid Base of Oil Production from 2 Core Areas Wainwright Approximately 5,400 BOE/d production forecast for Q4 Bantry Approximately 5,400 BOE/d production forecast for Q4 Both areas have extensive development…
Wainwright Dominant land position with over 55 sections of land Oil production under waterflood with less than 10% decline 98% operated, average 95% working interest Control key infrastructure Solid low decline base production…
Wainwright Drilling Average well cost 1.0 mm (estimated) IP (365) < 40,000/flowing boe Reserves 55 mboe(1) F&D 18.00/boe(1) Multiyear drilling inventory of 30 primary locations Hz Well Type Curve (1) Waseca Type curve…
Chauvin Case Study Part of Wainwright core area Current production of about 900 bbl/d 100% oil production, low decline rate of less than 15% per year, CJ operated since 2013 Lowered operating costs from 24.10 to 23.60 per boe…
Bantry Dominant land position with over 246 sections of land 97% operated, average 94% working interest oil production Base production out-performing reserves estimates The majority of base production is currently under…
Bantry Drilling Average well cost 2.1mm IP (365) < 20,000/flowing boe Reserves 180 mboe F&D 11.66/boe Recycle ratio 3.5X Multiyear drilling inventory, 80 locations 1. Bantry type well as evaluated in the Sproule Report…
Bantry Drilling Statistics based on the average of 4 producing wells New Drills Vs Type Curve (2.1 mm per well) 600 IP 30 less than 4,500/flowing boe 500 Stats based on the average of 2 producing wells 400 IP 90 less than 5,500…
Cardinal Dec. 2013 Reserves with Wainwright Acquisitions Proforma Reserves with Acquisition 1,2 P&P 43.3 mmboe (92% oil) - 798.5 (MM) NPVBT10 91% of Reserves are Proved plus Probable Producing Accretive Acquisitions Reserves…
Simple Payout Ratio Dividends Simple Payout Ratio % TARGET (1) See Advisory located at the end of the presentation. 19 19
Sustainable Sensitivities Cardinals financial prudence is reflected in its robust total payout ratio 2014 Total Payout Ratio Sensitivities (1) WTI (US/bbl) 75 80 85 90 95 100 105 59% 57% 55% 53% 51% 49% 48% 1. Maintain flat…
Activity Since IPO December 17, 2013 Completed initial public offering (IPO) at 10.50 per share December 17, 2013 South East Acquisition closes, adding 4,500 BOEPD December 23, 2013 Overallotment on IPO financing exercised, resulting in a…
Hedging Strategy To provide certainty in cash flow from operations and dividends Cardinal has set a rolling 3 year corporate hedging policy and will opportunistically hedge up to 60% in 2014, 40% in 2015 and 30% in 2016. Cardinal…
Track Record Value Creation Proven performance across commodities and throughout the cycle Positive return on all equity issued in all companies Midway Energy Ltd. 2009-2012 AB - Cardium - Beaverhill Lake 118 Million - 550 Million…
An Experienced Team M. Scott Ratushny Chief Executive Officer Mr. Ratushny has over 17 years of diverse oil and gas experience and has been involved in the creation, financing and growth of 9 successful private and public oil and gas…
Corporate Information Corporate Headquarters: 1400, 440 2nd Avenue S.W. Calgary, AB T2P 5E9 Auditors: KPMG LLP Legal: Burnet Duckworth & Palmer LLP Reserves: Sproule Associates Limited Contacts: Scott Ratushny Email:…
Research Coverage Current 12 Month Price Targets (not revised for recent acquisition) BMO 22.00 GMP Securities 21.50 CIBC World Markets Inc. 23.50 Macquarie Equity Research 25.00 Scotiabank Global 24.00 National Bank Financial 22.00 RBC…
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