TSX: JOY Growth Plus Yield E&P sustainable growth applying new technology to legacy oil pools March 2015
Corporate Overview (March 2015) 11,300 boe/d; 53% liquids 22% corporate base decline; 12.1 year 2P RLI 85% working interest in legacy oil pools containing approximately 1 billion barrels of OOIP 900 million of capital project…
Financial Overview (March 2015) 101MM net debt on a 205MM credit facility (90MM drawn) 6% yield;2.5/share/month; cash outlay to service…
Five Reasons to Own Journey 1. We have a 2 year track record of adding value and creating a sustainable business 2. We have the inventory in pools we own and control to high grade our best economic opportunities in low commodity price…
Growing Inventory in Proportion to Net Asset Value EffectiveEFFECTIVE June 30, 2012 December 31, 2014 GLJ PriceGLJ Forecast PRICE July 1, 2012 January 1, 2015 Inception Current 2P NPV10% BT (MM) 1 215 607 2P NAV/Basic Share…
Per Share Growth 1400 1.4 1.4 350 1200 1.2 300 Production per MM Shares Reserves (BOE/Share) 1000 1.0 250 0.8 800 200 0.6 600 150 0.4 400 100 0.2 200 50 00 0 H2 2012 2013 2014 Production (boe/d) per MM Shares…
Rates of Return at Strip Pricing1 60 3 Development Rate of Return (%) 50 2.5 40 2 Payout (Yrs) 30 1.5 20 1 10 0.5 0 0 Cherhill Gilby Herronton East Matziwin Banff Mannville Elkton Glauconite Rate of Return…
Core Areas (Along a Prolific Resource Fairway) 11,300 boe/d; 53% liquids 990 MM OOIP1 of Journey lands; 85% WI; 12% recovery factor to date Alberta Central Region (5,500 boe/d) (61% liquids) 490MM oil weighted capital projects…
Journeys Value Creation Strategy Acquired major oil pools in prolific Identify New resource fairway Opportunities Expanded our (300 Pools in prospect inventory Target to over 900MM Fairway) Drilled over 50 HZ wells to date…
Executing the Strategy (Herronton) R26 R25 R24W4 Acquired in February 2013; first well drilled in September T20 T20 2013; drilled 10 wells to date 17 land purchases/leases and 4 tuck in property acquisitions; quadrupled land position…
Executing the Strategy (Matziwin/Countess) West Matziwin East Matziwin Matziwin legacy property, expanded through acquisitions (East Matziwin, Countess), land purchases, and farm-ins 1 We have participated in 30 HZ wells on our…
2014 Finding, Development and Acquisition Costs For the Period January 1, 2014 to December 31, 20141 F&D A&D FD&A Capital Expenditures (MM) 2 87.1 173.3 260.4 Total Proved Reserves Additions (MMboe) 5.4 14.4 19.8 Cost (including…
Historical Finding, Development & Acquisition Costs For Period July 1, 2012 to December 31, 2014 2012 2H 2013 2014 Total Capital Expenditures (MM)1 32.0 71.6 260.4 364.0 Total Proved Reserves Additions (MMboe) 2.6 3.3 19.8 25.8 /boe…
More to Come Journey has identified 279 (net) horizontal oil drilling opportunities; 78% of these projects are currently unbooked Horizontal Oil Wells2 Concept Booked1 Unbooked Total Tested Region Gross Net Gross Net Gross Net…
2014 Year End Net Asset Value GLJ 2014 Year End Report GLJ 2014 Year End Report Reserve Category NPV 10% NAV1 10% NPV 10% NAV1 10% MM /Share2 MM /Share2 Price Forecast: GLJ Effective January 1, 2015 Sproule Effective January 1, 2015…
Business Plan 2012 2013 2014 2015 Operating Highlights H2 Actual Actual Estimate Forecast Production Average (boe/d) 11,000 - 4,566 5,255 10,350 11,200 Oil and NGLs (%) 51% 54% 53% 54% Corporate Decline Rate (%) 26% 26% 20% 22%…
A Differentiated Business Strategy Designed to Out Perform Team Business Model Assets Experienced management Control legacy underdeveloped Control of 1000 MMbbls of oil pools along a fairway OOIP with 12% recovery factor Skilled…
Appendix- Content Hedging and Sensitivity Drilling Inventory South Region South Region Drilling Economics Central Region Central Region Drilling Economics Strong Governance Experienced Management Corporate Information 19
Appendix - Hedging and Sensitivities Hedging Oil contracts Volume Bbls/d Pricing point Strike price/Bbl Term Swap 1,000 WTI NYMEX US91.05 January 1, 2015 to March 31, 2015 Swap 500 WTI NYMEX CAD102.35 January 1, 2015 to March 31,…
Appendix - South Region 100% of our South inventory is concept tested, with at least 1 HZ well drilled in each pool Matziwin CALGARY Countess Herronton Brooks Leckie Horizontal Oil Well Drilling Locations Booked…
Appendix - South Region Drilling Economics East Matziwin Countess Herronton Metric Glauconite Glauconite Elkton Capital Cost (MM)2 2.2 2.2 3.7 Ultimate Recovery (Mboe)2 310 288 320 Oil and NGLs (%)2 43% 44% 69% IP30 (boe/d)2 300 250…
Appendix - Central Region R15 R13 R11 R9 R7 R5 R3 R1W5 R25 R23 R20W4 T62 T61 T62 T61 Over the next 12 months Journey plans T60 Windfall Manola T60 to drill HZ wells at Crystal and Gilby, in T59 T59 T58 T58 order to prove-up our…
Appendix - Central Region Drilling Economics Poplar Creek Gilby Manola Metric Crystal Viking Cherhill Banff Belly River Mannville Ellerslie Capital Cost (MM)2 2.6 2.4 2.8 2.3 2.5 Ultimate Recovery (Mboe)2 130 110 329 159 286 Oil and…
Appendix - Strong Governance Patrick Samson Chairman Managing Director, Infrastructure Investments, PSP Investments Stephen Mulherin Lead Independent Director, Governance / Compensation Committee Chairman Partner, Polar Capital Company;…
Appendix - Experienced Management Team Alex G. Verge, P.Eng., M.Eng. Director, President and Chief Executive Officer 33 years of experience: Three years as Director of Journey (three as CEO), President and CEO of NuVista Energy, VP…
Appendix Corporate Information BMO Bankers CIBC ATB Auditors PricewaterhouseCoopers LLP Evaluation Engineers GLJ Petroleum Consultants Ltd. Legal Counsel Stikeman Elliott LLP Registrar and Transfer Agent Computershare Trust…
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