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CORPORATE PRESENTATION – Painted Pony Petroleum Ltd

Painted Pony Petroleum Ltd · Sep 8, 2014 · 32 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. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 1
    Corporate Presentation SEPTEMBER 8, 2014 TSX : PPY paintedpony.ca 1
  2. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 2
    Growing a Premier Natural Gas Asset Focus on Montney Natural Gas in Northeast British Columbia: Successfully explored and de-risked a massive resource play. More than 45 Tcfe of gas-in-place on PPY lands.(1) Moving into full…
  3. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 3
    Corporate Snapshot Financial TSX: PPY PPY is included in the TSX Composite Index 93.8 million Shares Outstanding(1) 100.8 million Fully Diluted Shares Outstanding (9.20 average strike price)(1) 6.05 - 14.75 52-Week Trading Range…
  4. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 4
    Corporate Snapshot Production, Reserves & Net Asset Value 15,029 boe/d Q2 2014 Average Production (85% natural gas) 54% increase over Q1 2014 Average Production of 9,734 boe/d. 1.7 Tcfe Proved + Probable Reserves Dec. 31, 2013(1)…
  5. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 5
    Impressive & Consistent Reserves Growth(R) 350 3.28 3.50 Probable Reserves Proved Reserves 300 P+P Reserves Per Share 3.00 Reserves Per Share (boe/Share) 290.3 2.17 mmboe 250 2.50 145% compound annual growth in Reserves…
  6. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 6
    Impressive & Consistent Production Growth(P) 15,000 Gas 175 15,029 boe/d Oil & Liquids in Q2-2014 Production Per Million Shares 12,000 140 boe per day / Million Shares 13,500 146% compound annual growth in Production (boe…
  7. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 7
    The Montney Trend in Western Canada A Leading North American Gas Play Key Attributes Tight dolomitic siltstone reservoir Better reservoir than a shale 300 meters (1,000 ft.) thick 4x Thicker than the Marcellus Continuous…
  8. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 8
    Painted Ponys Montney Position Premium Assets Located in the Optimum Area Key Attributes Large contiguous land base with year-round access 203 Net sections (129,800 net acres) 2nd Largest position in northern Montney west of…
  9. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 9
    Substantially De-Risked Moving into Development Phase 2014 Budget 206 Budget (millions) Blair 2 Rigs currently active 12 Gross wells drilled to August 31 22 Gross wells planned to drill 18 Well completions 2015 Plan(1) 317…
  10. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 10
    Improved Performance Through Technology Open-Hole Ball-Drop Completions PPY-operated Ball-Drop Completions Ball-Drop vs. Perf & Plug Completions Comparison 8,000 100% a-A91-F/94-B-09 (Ball-Drop) 90% 7,000 a-91-F/94-B-09 (Perf &…
  11. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 11
    Improved Performance Through Technology Parallel-Pair Drilling Parallel well pair 26-L pad Q3 2014 Parallel well pair Parallel well pair 79-E pad Q4 2014 Combined test rates 41-F pad 20.8 MMcf/d Region of Completion Enhancement…
  12. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 12
    Montney Production Type Curves Technology Drives Step-Change 10,000 PPY Average Montney Well Production Average of all PPY Montney Wells 9,000 Ball-Drop Completions (12 Wells) 8,000 Paired-Parallel Wells (4 Wells) 6 Bcf Type…
  13. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 13
    Townsend Development Plan 2014 & 2015 Program Development Program Economics 7.2 million Drill, complete, and equip 5.2 MMcf/d I.P.30 production rate 7.0 Bcf P+P reserves per well 60 bbls/MMcf Liquids recovery (C3+) 13.9 million…
  14. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 14
    Montney Development Economics Townsend Flat Price Sensitivities 150 P+P reserves per well = 7 Bcf Liquids yield = 60 bbls/MM IP30 = 5.2 MMcf/d D,C,E&T cost = 7.2 MM 5.00 Flat Nymex 130 4.50 Flat Nymex IRR % 110 4.00 Flat…
  15. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 15
    Blair-Daiber Development Plan 2014 & 2015 Program Development Program Economics 7.2 million Drill, complete, and equip 7.0 MMcf/d I.P.30 production rate 10 Bcf P+P reserves per well 14 bbls/MMcf Liquids recovery (C3+) 10.4…
  16. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 16
    Montney Development Economics Blair-Daiber Flat Price Sensitivities P+P reserves per well = 10 Bcf 120 Liquids yield = 14 bbls/MM 110 IP30 = 7.0 MMcf/d D,C,E&T cost = 7.2 MM 5.00 Flat Nymex 100 90 4.50 Flat Nymex 80 4.00…
  17. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 17
    5-Year Montney Development Model Processing Infrastructure Build-out Drives Growth 120 69% compound annual 100,000 boe/d Projected production growth 2014-2018 in Q1-2018 100 Production Mboe/d Additional Liquids Refrigeration,…
  18. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 18
    5-Year Montney Development Model Cash Flow Growth 1000 Model Base Case millions Year Capex Cashflow YE Debt D/CF Cash Flow & Net Debt ( millions) 2014 206 101 NIL NIL 800 2015 317 175 129 0.7 2016 499 430 189 0.4 2017 696 705…
  19. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 19
    Painted Pony AltaGas Strategic Alliance Key Provisions Initial 15-Year strategic alliance with AltaGas Ltd., for natural gas & natural gas liquids (NGL) processing, marketing & transportation. Liquids-Rich Natural Gas Processing…
  20. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 20
    Painted Pony AltaGas Strategic Alliance Townsend Area Facilities Townsend Liquids-Rich Gas Processing New Townsend Facility: Major new shallow-cut facility 198 MMcf/d gross capacity Existing AltaGas Blair Creek Plant PPY has…
  21. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 21
    Proposed West Coast LNG Projects A Long Call Option for PPY Gas Selected Export Canadian LNG Projects Capacity Shell LNG Canada Proposed British Fort Nelson In-service 2019 3.2 Bcf/d TransCanada Columbia Petronas Petronas…
  22. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 22
    Painted Pony Petroleum The Best Pony in the Race Premier Montney Asset Base Large, contiguous land position with year-round access, located 100% in B.C. High working interest with operatorship High-rate, liquids-rich, sweet natural…
  23. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 23
    Appendices & Disclosures 23
  24. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 24
    Analyst Coverage Analyst Institution Target Price Date Jeremy McCrea AltaCorp Capital 20.00 Aug. 13, 2014 Anthony Petrucci Canaccord Genuity Corp. 22.00 Aug. 19, 2014 Adam Gill CIBC World Markets 15.00 Aug. 19, 2014 Garett Ursu…
  25. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 25
    Natural Gas Hedging: Risk Management Strategy 23.7 MMcf/d average fixed AECO price of 4.14/Mcf in Q3 2014 23.7 MMcf/d average fixed AECO price of 4.14/Mcf in Q4 2014 23.7 MMcf/d average fixed AECO price of 4.34/Mcf in Q1 2015…
  26. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 26
    Montney - The Canadian Marcellus Similar Play Area - But 4x Thicker with Better Initial Declines Montney Fairway Proposed West Coast The Marcellus: A true shale reservoir. LNG Export Sites Western Canada 70 meters (up to 225 ft)…
  27. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 27
    Buckinghorse Shale Sweet Gas Resource Play Above the Montney 60 Bcf/section per 100 m thickness* 800 m thick on PPY lands Vertical well development at 16-32 800 m wells/section Zone is shallow, 400 m (1,300 ft) TVD low cost…
  28. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 28
    Strategic Alliance with AltaGas AltaGas Corporate Profile Calgary-headquartered, Canadian natural gas mid-streamer Currently processing more than 2 Bcf/d natural gas and 70,000 bbls/d NGL Owns over 1,100 km of gas and NGL…
  29. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 29
    Strategic Alliance with AltaGas Marketing Opportunities AltaGas becomes PPYs Primary Natural Gas and NGL Marketer Market-Competitive Product Pricing AltaGas commits to seeking transactions at sales prices greater than comparable…
  30. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 30
    Canadas Proposed West Coast LNG Projects Chevron Approved Pipeline 42 30
  31. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 31
    PPY Corporate Overview Legal Burstall Winger Zammit LLP Auditor KPMG LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Banks National Bank of Canada Alberta Treasury Branch Canadian Imperial Bank of Commerce The Bank of…
  32. CORPORATE PRESENTATION – Painted Pony Petroleum Ltd – slide 32
    Endnotes R: Reserves per share are calculated by dividing P+P reserves by million basic weighted average shares during the year. For the year ended December 31, 2013, Painted Ponys P+P reserves were 290.3 MMboe and there were 88.4…

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