Corporate Presentation Peters & Co Ltd Energy Conference Toronto September 11, 2013
Corporate Snapshot Background Cavalier Asset Portfolio Overview In November 2011, Paramount contributed seed capital and all of its oil sands and carbonate bitumen assets to Cavalier Cavalier has a 100% working interest in its main…
Grand Rapids Resource Overview Key Attributes of the Grand Rapids Developable using proven SAGD drilling, completion and production techniques Laterally continuous sand body provides for repeatable surface development template…
Grand Rapids Industry Activity Grand Rapids Formation Generating Significant Interest Industry peers have already applied for Grand Rapids SAGD projects totaling over 450,000 bbl/d of production capacity(1): Cenovus: 180,000 bbl/d…
Hoole Project Overview Significant Resource Base with Attractive Economics Probable reserves of 93 MMbbls (B-tax 10% NPV of 379 million) and best estimate economic contingent resources of 719 MMbbls (B-tax 10% NPV best estimate of…
Management Hoole Net Pay Mapping Grand Rapids Reservoir Continuity Large, homogeneous shore face sand in the Grand Rapids formation Laterally continuous sand body provides for repeatable surface development template Homogenous…
Hoole Phase 1 Phase 1 Schedule Phase 1 Development Philosophy Submitted application in November 2012 and began front- Use proven execution strategies and methods Phase 1 end engineering to use steam only, with allowances to easily add…
Hoole Phase 1 Schedule Phase 1 first oil production is anticipated in 2017 7
Hoole Full Field Development Plan Hoole Phase 1 application filed with the Energy Resources Conservation Board (ERCB) and the Alberta Environment and Sustainable Resource Development (AESRD) on November 7, 2012 First round SIRs(1)…
Exploration Portfolio Platform for Long Term Growth in Exploration Assets(1) Resource and Production Potential Best estimate of over 1.6 Bbbls DEBIP and 4.5 Bbbls UEBIP(1) across six primary project areas, five of which have had no…
Carbonate Assets Growth Potential in an Emerging Resource Play Cavaliers Carbonates Assets Over 128,000 acres within the Carbonate portfolio located on the highly prospective Grosmont Carbonate Trend Holdings are located adjacent to…
Grosmont Carbonates Recent Industry Activity(1) Laricina / Osum - Saleski Joint Venture Results from the Saleski pilot project have been successful to date, proving production potential from both the Grosmont C and D zones and…
Saleski Carbonates Overview 15 sections of land with best estimate 1.2 Bbbls DEBIP and O.1 UEBIP(1) Five seismic lines shot 11 delineation wells drilled; one well cased for testing 380 MMbbls best estimate contingent resources(1)…
Eagles Nest Overview 36 sections of land purchased in early 2012 out of CCAA (former Oil Sands Quest) 6 legacy gas wells point to McMurray and Wabiskaw oil sands potential McDaniel engineering report effective April 2010 assigns a…
Christina/Kirby Overview Small, but highly prospective land position located immediately south of Devons 105,000 bbl/d Jackfish and Cenovus/ConocoPhillips 30,000 bbl/d Kirby West Projects and north of Devon / BPs Pike Project…
Investment Highlights High Quality Oil Sands Asset Base 100% ownership of over 202,000 net acres of oil sands leases Cavaliers oil sands and Carbonate bitumen assets have best estimate discovered exploitable bitumen in place (DEBIP)…
Appendix A Management and Director Biographies and Shareholder Information 16
Cavaliers Current Shareholder Paramount Resources Highly Experienced and Successful Shareholder Paramount is TSX listed with a market capitalization of 3 billion; insider ownership 50% Founded in 1974 by Clayton Riddell, Chairman and…
Management Team and Board of Directors Management Experience William Roach, Ph.D., P.Eng. Dr. Roach has 30 years of experience, more recently as President & CEO of UTS Energy between 2004 and the companys sale to Chief Executive…
Management and Director Biographies Dr. William Roach became Chief Executive Officer of Cavalier Energy Inc, in November 2011. Prior to that, Dr. Roach served as Chief Executive Officer of Calera in Los Gatos, California. Prior to…
Management and Director Biographies Mr. Martin Sandell joined Cavalier Energy at its foundation in November 2011. Prior to that he was VP Engineering at N-Solv Corp, where he was responsible for the development of the companys…
Management and Director Biographies Ms. Abells Morissette has 15 years experience as a lawyer in the oil and gas industry. She was previously Vice President, Legal and Administration & Corporate Secretary SilverBirch Energy Corp…
Management and Director Biographies Mr. Peterson has over 15 years in the energy and resource industries. Prior to joining Cavalier in 2012, he spent 6 years at Laricina Energy Ltd. focused on the reservoir engineering, overall…
Management and Director Biographies Mr. Riddell joined Paramount Resources Ltd. in 1991, has been a director since 2000 and James H.T. Riddell President and Chief Operating Officer since 2002. Executive Chairman Graduated from Arizona…
Appendix B Supplemental Hoole Information 24
Grand Rapids Project Comparison(1) Well Log Locations Map Operator Laricina (1) Cenovus (2) Cavalier (3) BlackPearl (4) Project Germain Pelican Hoole BlackRod Effective 34% 30% 30% 30% K 26D 14D 14D 15D D 200m 225m 250m 300m…
Cenovus Comparison of the Grand Rapids _______________ Source: Cenovus Grand Rapids project application. 26
Hoole Phase 1 Layout & Development Philosophy Early Infrastructure Already Present Hoole has easy surface access from existing high grade road networks and is proximal to existing power and gas infrastructure Reduces capital…
Grand Rapids Infrastructure Area Pipeline Infrastructure(1) Significant level of industry activity in the vicinity of the Hoole Grand Rapids Project and other areas to the north has resulted in a number of recently proposed new…
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