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CORPORATE PRESENTATION – Manitok Energy Inc.

Manitok Energy Inc. · Jan 14, 2014 · 39 slides

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Slides

  1. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 1
    Manitok Corporate Presentation January 2014
  2. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 2
    Corporate The CompanySnapshot MEI on TSX-V Market Capitalization at 2.30/share 170 million Common Shares Outstanding 74,492,340 Options (wgt avg exercise price of 1.96/share) 5,484,440 Insider Ownership, Undiluted / Diluted 5.9% /…
  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 7,000 Gas (boe/d) 6,000 Oil & liquids (bbls/d) 5,000 4,000 3,000 2,000 1,000 - Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12…
  5. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 5
    Continued Growth in 2014 Est. Est. 2012 Annual Annual Actual 2013 Guidance Increase 2014 Guidance Increase 2013 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…
  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
    A Significant Opportunity at Entice R25 24 23 Underexploited - Only 250 well penetrations Twp 28 in the Mannville or deeper on the lands. Over 200 MMbbls of 27 cumulative oil production and 12 Tcf of cumulative gas Past drilling…
  11. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 11
    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…
  12. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 12
    Large OIP with Multi-Zone Potential Significant Under-Exploited Oil in Place Manitok believes that there are potentially risked recoverable oil reserves of 180 MMbbls based on primary recovery from Glauconitic, Ellerslie (Basal…
  13. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 13
    New Pool Leads & Offset Production New Pool Log Leads 55 have been identified. R 25 24 23 Swallwell Nisku Pools Viking Wbmn Swalwell Cum 5 MMBO Nsku Wayne A Pool Glauconitic D-1 A Pool 17 wells, 1969 Cum 11 MMBO Cum 4 MMBO Ellerslie…
  14. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 14
    Large Oil in Place in Multiple Zones Entice Region - Estimated Oil in Place / Recoverable Oil & Illustrative Well Economics Ellerslie / Viking Glauconite Pekisko Nisku Total Basal Quartz (1) Entice Opportunity - Estimated Oil in…
  15. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 15
    Many Ellerslie (Basal Quartz) Prospects with Significant OOIP 14 bypassed pay opportunities identified to date, ; Ellerslie (BQ) Wells are RED Internal estimates of 5 - 20 MMbbls of OOIP per section with primary recovery factors of…
  16. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 16
    Attractive Nisku Prospect Swallwell Nisku D-2 A Pool discovered in 1969; 4-1-29-24W4 (green dot on map) is in a separate pool Produced from the main pool and has produced 29,000 BO; 5 MMBO; Seismic interpretation indicates 4-1 is…
  17. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 17
    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…
  18. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 18
    Entice Glauconitic Analog Many identified log leads resemble Edge Well similar to the 12-22 well ( 1 on the cross section) Rockyford U Mann F Pool located just east of our 2 acreage has OOIP of 19MMBO with a primary plus enhanced…
  19. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 19
    Cardium Oil Production at Stolberg Stolberg Focus First 3 (2.4 net) Stolberg section 29 wells have cumulatively produced 679,000 bbls (536,000 net) of light Structural oil in 16 months; total produced gross oil from the Stolberg…
  20. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 20
    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…
  21. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 21
    Stolberg Cardium Oil Large OOIP Large OOIP - Reservoir parameters calibrated to core and Backlimb - 80% of production and drilling to date has been logs suggest 12.9 MMbbls OOIP per section. Due to the delineating the main backlimb of the…
  22. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 22
    Quirk Creek 1st Cardium farmin well tested at 200 bbls/d of light oil; potentially 6 MMbbls OOIP per section and 15 drilling locations if Manitok is right; Earned 70% of 7 sections (3,136 net acres) with first drill; Manitok has the…
  23. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 23
    Quirk Creek Cardium Oil MEI 11-31-20-3W5 Cardium B Hz target depth = -785m SS Producing sheet climbs to at least 123m ASL as seen in 100/16-20-20- 3W5 proving up a hydrocarbon column 900m in height 25
  24. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 24
    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…
  25. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 25
    Appendix 27
  26. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 26
    Hedging at January 3, 2013 Subject of Notional Average Contract Contract Quantity Remaining Term Reference Strike Price Traded Oil 300 bbls/d October 1, 2013 to December 31, 2013 CAD WTI 97.65 Swap Oil 150 bbls/d October 1, 2013 to…
  27. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 27
    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…
  28. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 28
    Manitoks Entice Area Appendix 30
  29. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 29
    Potential Recoverable Oil 25th 75th Average Median Percentile Percentile Estimated Estimated OOIP of Pools (mbbls) (mbbls) (mbbls) (mbbls) Min Max Recovery Factor Glauconitic 426 6,374 5,060 3,161 8,030 528 52,961 9% Ellerslie/Basal…
  30. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 30
    Total Cumulative Production (boe) - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 TAQA - (10-15- 029-24W4) TAQA - (14-11- 029-24W4) TAQA - (08-15- 029-24W4) Terrex - (06-18-…
  31. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 31
    Total Cumulative Production (boe) - 100,000 120,000 140,000 160,000 20,000 40,000 60,000 80,000 106/07-08-027-19W4/00 103/13-12-017-11W4/00 102/13-15-027-18W4/00 100/16-15-027-18W4/00…
  32. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 32
    Top Liquids Wells CVE Since 2011 Date Well On Production Last Date On Producing/Targeted Cumulative Production Operator UWI Licensed Date Production Formation (bbl) % Liquids Well Status TVD Cenovus Enrg Inc 106/07-08-027-19W4/00 Aug…
  33. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 33
    Glauconitic/Ellerslie Vertical Type Curves (T27-R23) 300 Average Liquid Production Average Total Production All Glauconitic/Ellerslie Wells 250 200 Total Production (boe/d) 150 100 50 - 0 3 6 9 12 15 18…
  34. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 34
    Cenovus Ellerslie Hz Type Curve 1,000 Average Liquid Production Average Total Production 900 Entice Ellerslie Hz Wells (36) 800 700 Total Production (boe/d) 600 500 400 300 200 100 - 0 3 6 9 12 15…
  35. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 35
    CVE Glauconitic Hz Type Curve 600 Average Liquid Production Average Total Production Entice Glauconitic Hz Wells (32) 500 400 Total Production (boe/d) 300 200 100 - 0 3 6 9 12 15 18 21 Months on…
  36. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 36
    Manitoks Foothills Area Appendix 38
  37. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 37
    Brown Creek Cardium Oil Multiple light oil-bearing sheets similar to the Cordel and Stolberg oil pools at 1,500 1,800m; potential for 30 - 40 MMbbls OOIP Under-exploited with only 3 vertical wells in the oil pool to date;…
  38. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 38
    Brown Creek Cardium Oil Brown Creek Cardium reservoir broken into a series of faulted imbricates lending Proposed well to isolated pools with high Testing two sheets fracture intensity Technical team has been evaluating area to…
  39. CORPORATE PRESENTATION – Manitok Energy Inc. – slide 39
    Cabin Creek Cardium Oil Cabin Creek 10-14-55-03W6 Reservoir accessed as of June 14/2013 (TD) MD: 3333mMD. Intersected a total of 500m gross sand, 260m net pay Top Card sst (3324mMD) Top Card sst (3005mMD) TD Inc Net sand:…

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