Investment Highlights New Leadership with Clear Strategy to Extract Value Alberta Have commenced Duvernay vertical well program Lease construction complete and rig secured Drilling to 2,700m through Duvernay with extensive coring…
Management Team Built to Extract Value Lee A. Pettigrew, HBA Over 20 years experience in investment banking specializing in E&P and energy services President & CEO Managing Director of Energy at Orion Securities and Macquarie Bank…
Board With Significant Deal Experience Doug Manner, P. Eng. Reservoir engineer with over 30 years experience in senior positions in E&P companies and evaluation Chairman firms (Independent) Currently CEO Sintana Energy Inc., a…
Initial Duvernay Well Furthering Case for Expanding Snipe Lake Well Location Duvernay Play North of Kaybob Received drilling license and surface access at 10-11-72-21W5M Lease construction complete and drilling rig secured Snipe…
Why the Duvernay High Impact Play with Substantial Duvernay Play Well Represented with Upside Majors and Large Independents The Duvernay shale is one of the largest liquids-rich plays in North America Covers 50,000 square miles…
Encouraging Kaybob Developments Encouraging Developments in Kaybob Kaybob Wells Drilled The Kaybob area of the Duvernay shale is one of the most Estimate Range 200 active and talked about plays in North America Kaybob area to…
The Duvernay Substantial Opportunity What Do We Have Large, Semi-Contiguous Land Position 88.5 sections of land with Duvernay rights in Snipe Lake area, North of Kaybob (56,640 acres) 1.8 billion bbls of total petroleum initially in…
Accessible Net Pay Similar to Kaybob Substantial Net Pay The Duvernay formation in the Kaybob region is separated by a thick carbonate that acts as a barrier to fracking, splitting the formation into upper and lower pay zones In the…
Hydrocarbons Present & Mature1 Accessible Net Pay Thickness Well in Excess of 20m Shell 9-34 Well Chevron 7-22 Well Athabasca 8-18 Well Mobius Lands range 0 5 10 15 20 25 30 35 40 Accessible Net Pay Thickness (m) Total Organic…
Formations Frackable1 Carbonate / Quartz Content Over 50% Indicates Brittle Formation Shell 9-34 Well Chevron 7-22 Well Athabasca 8-18 Well Mobius (Upper Duvernay) Mobius (Lower Duvernay) Mobius (Majeau Lake) 0 10 20 30 40 50 60…
Formations Likely Overpressured1 Similar Subsea Depth of Formations Indicates Similar Pressure Regimes Shell 9-34 Well Chevron 7-22 Well Athabasca 8-18 Well Mobius range 1,650 1,700 1,750 1,800 1,850 1,900 1,950 2,000 2,050…
Snipe Lake Duvernay Core Similar to Kaybob Longview Snipe Lake 13-25 Duvernay Core Athabasca 8-18 Kaybob Duvernay Core Natural Fracture Natural Fracture Snipe Lake & Kaybob Cores Both Oil Stained & Naturally Fractured 13
Escalating Duvernay Valuations Crown Land Sales Duvernay Transaction Values Athabasca paid 1,700 to 2,255 per acre at crown 9,000 land sales in area of discovery well in 2010 and 2011 Chevron paid 1,500 to 6,400 per acre at crown…
California Surfacing Value San Joaquin Basin Contiguous Land Position Difficult and Costly to Replicate Mobius recently closed sale of 4,285 net acres for US1.4 million (325/acre), recovery of US150,000 of previous lease payments…
Rethinking Cash and Asset Deployment Use Assets to Generate Cash Strong Cash Position Sale of part of California asset base as first part of more Current cash position* 9,265,000 aggressive push to monetize asset base and stop burn on…
Strong Financial Position & Upside Potential Upside Potential for Shareholders Market Giving No Value to Assets Shares currently trading just above cash value Total Basic Shares Outstanding (millions) 28.8 Near and medium term…
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