PROVEN: EXPERTISE PROVEN: RESULTS American Eagle Energy Corp (NYSE MKT: AMZG) September 2014 Williston Basin (Three Forks / Bakken) Oil Focused Operator
CURRENTLY PRODUCING OVER 3,000 BOE PER DAY Reached 2014 year-end production target before the end of 3Q 2014 with production from 4-well pad Track Record of Growth (Boepd) 3,000 + 2,150 2,006 1,879 1,645 1,362…
MANAGEMENT Brad Colby President / CEO 30 years experience in E&P development with technical background in engineering and geology Experienced in asset acquisition, development, and drilling joint ventures Strong business background…
WILLISTON BASIN FOCUSED OPERATOR WITH SUBSTANTIAL POSITION IN DIVIDE COUNTY, ND American Eagle Energy Corporation (AMZG, American Eagle Energy or the Company) is a Denver, Colorado based exploration & production operator focused in…
OUR SPYGLASS PROJECT AREA STACKS UP WITH THE CORE OF THE WILLISTON AMZGs Spyglass Well Results mirror the Williston Core Wells with 12-month oil production greater than 200 Bopd extend from the Williston Core into AMZGs Spyglass…
THE DIVIDE COUNTY ADVANTAGE Shallower drill depth lower drilling cost and faster drill times Three Forks Long Lateral (based on Ryder Scott assumptions) 6.4 MM D&C costs Superior rock quality reduced proppant volumes, no ceramic…
RESERVE SUMMARY Reserves Overview Net proved reserves as of June 30, 2014 Oil Gas Total PV-10 Category (Mbbls) (Mmcf) (Mboe) (MM) PDP 4,671 3,480 5,251 169 PDNP 699 485 780 26 Total Proved Developed 5,370 3,965 6,031 195 PUD…
TRACK RECORD OF GROWTH Proved Reserves Highlights Proved Reserve / PV-10 Growth 18 (Mmboe; MM) 400 15.4 Ryder Scott engineered 2014 mid-year proved 16 13.5 308 336 350 14 reserves of 15.4 Mmboe with PV-10 of 336 MM 300 12 250…
SPYGLASS PROJECT OFFSET OPERATORS American Eagle Spyglass Acreage (Yellow) & Offset Operator Economic Assumptions(1) American Eagle (Yellow) Crescent Point 1-mile lat w/ tax incentives: Well Costs (MM) 6.4 EURS: 175-275 MBOE % Oil…
DIVIDE COUNTY DECLINE RATES ARE RELATIVELY FAVORABLE AMZG Operated Well Results Production as a % of 30 Day IP: AMZG vs Neighboring Counties Lateral Average Daily Rates (BOE) 1 Year Date Well Target Ft. 30 60 90 365 Cum 140 % 54…
LOWER DRILL DEPTH AND BETTER ROCK QUALITY LEAD TO LOWER D&C COSTS Divide Countys shallower reservoir depths Low D&C costs driven by In AMZGs Spyglass Project Area, the Bakken and Three Forks AMZGs relatively higher quality reservoir…
FOCUS ON EFFICIENCY HAS REDUCED DRILLING DAYS OVER TIME Spud To Rig Release Days Since March 2012 45 2012 2013 2014 40 35 55% Reduced Drill Time 30 25 Days 20 15 10 5 0 Spud to Rig Release Fishing…
HIGHLY ECONOMIC WELLS WITH UPSIDE ON REDUCED DRILLING AND COMPLETION COST Spyglass Overview Three Forks Long Lateral Ryder Scott Type Curve Ryder Scott assumptions reflect the lower D&C costs and flatter decline curves that drive…
WILLISTON BASIN INFRASTRUCTURE AND TAKEAWAY CAPACITY CONTINUES TO MATURE AMZGs access to infrastructure Gas gathering and takeaway infrastructure Oil gathering and transportation Oil takeaway capacity currently handled by trucking…
SIGNIFICANT INVENTORY WITH ACCRETIVE DEVELOPMENT PLAN IN PLACE 2014 Development Plan Detail 2014 Expected Development Plan Expect to add approximately 28 gross (18 net) operated wells during 2014 2014 Drilling Budget ending…
SIGNIFICANT WELL CONTROL IN DEVELOPMENT AREA WITH LARGE LOW-RISK INVENTORY Spyglass Project Operating Area Operational Proved Area with 120 Net Undeveloped Locations Four well pad 17
AMZG STACKS UP WELL WITH ITS WILLISTON BASIN PEERS Unlevered Cash Margins above 50 / Bbl High operatorship across leasehold position Small cap Williston peers Large cap Williston peers AMZG TPLM EOX NOG KOG OAS Production…
YET TRADES AT A DISCOUNT AMZGs market valuation is at a deep discount to its Williston peers, despite the Companys operational performance Small Cap Williston Peers Large Cap Williston Peers Peer Average Premium / as of the most…
SUMMARY INVESTMENT CONSIDERATIONS AMZGs core asset is 46,800 net acre position in northwest Divide County, ND targeting the Three Forks and Middle Bakken formations Attractive oil- The Spyglass Project Areas advantageous geologic…
CONTACT INFORMATION Marty Beskow, CFA Vice President of Capital Markets & Strategy American Eagle Energy Corporation 2549 West Main Street, Suite 202 Littleton, CO 80120 720-330-8378 martybeskowamzgcorp.com 21
APPENDIX 22
HIGHLY EXPERIENCED AND INCENTIVIZED MANAGEMENT TEAM Management and Technical Team Richard Findley Brad Colby Kirk Stingley Chairman of the Board President and Chief Chief Financial Officer 35+ years experience Executive Officer 25+…
STRATEGY & 2014 YEAR END GOALS Strategies Ability to Execute 2014 Year End Goals Plan on drilling 18 net (28 gross) wells To trade in-line with our Williston Continue to validate our Spyglass Area in 2014 with 40% to 60% IRRs(1)…
WILLISTON BASIN STRATIGRAPHY 25
AMZG THREE FORKS OPERATED RESULTS VS. RYDER SCOTT TYPE CURVE Selected Three Forks long lateral operated well results validate Ryder Scott type curve and 400 Boe EURs AMZG Operated Three Forks Long Lateral Well Results Vs. The Ryder…
WILLISTON BASIN ACREAGE Current 1 DSU Gross Net AMZG Prospect Area DSUs Acres Acres Acres WI Spyglass - Proved 14 1,280 17,920 12,628 70% Spyglass - Proved 11 800 8,800 6,850 78% Spyglass - Proved 25 26,720 19,478 73%…
ADJUSTED EBITDA RECONCILIATION For the Three-Month For the Six-Month For the Year Ended December 31, Period Ended June 30, Period Ended June 30, ( in 000's) 2013 2012 2011 2014 2013 2014 2013 Reconcilitation of Net Income (Loss) to…
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