TSX:V: IOG Click to edit Master text styles Second level o Third level Fourth level Fifth level IRONHORSE Oil & Gas 2013 Annual and Special Meeting of Shareholders March 18, 2015 TSX: V: IOG
IRONHORSE at a Glance Click to edit Master text styles Stock listing TSX.V:IOG Second level Total shares o Third level 27.8 million Fourth level Management Fifth level ownership 14% March 17, 2015 share price 0.11 Market…
Maximizing Value at Pembina Sinopec Click toCanada completed edit Master 13-02 text battery expansion March 9, 2015. styles Operational testing underway Second level Plant completion to allow for material increase in production…
Well positioned to weather the downturn Cash Clickontohand editwith no debt Master text styles Experienced Second levelteam that has been here before Lean structure o Third level No further Fourth capital level expenditures…
2013 Year in Review InClick 2013,to Ironhorse focused edit Master on improving text styles its financial position and working with partners to initiate Pembina production Second level On October 31, 2013 the Alberta Energy…
2014 Year in Review March 5, 2014: Ironhorse and partners initiated first production in Pembina Click toNisku edit L2L Master text styles pool from 9-05 well Second level Production restricted due to insufficient blend gas volumes…
Operations & Blend Gas History March 5/14 Production from 09-05 well starts Click Q2 to editrestricted Production Master to text 30 styles BOEPD due to limited blend gas Second Q3 level increases to 86 BOEPD with new blend gas…
Q3 2014 Financial Highlights Increased Click to revenues to 593,000 edit Master from 441,000 in Q3 2013 text styles Increased funds from operations to 358,000 from 24,000 in Q3 2013 Second level Increased earnings to 141,000 from…
Reserve Report Results Year End 2014 Click to edit Master text styles Reserves PDP Proved Proved + Second level Probable o Third level Oil/NGLS mbbls 475 499 643 Gas Fourth level mmcf 486 750 942 TOTAL BOEs Fifth level mboe…
Net Asset Value (NAV) Click to edit Master text styles Net Asset Value before Income tax Discounted at Dec 31, 2014 Dec 31, 2013 Second level 10% ( M ) o Thirdpresent Net level value proved and probable reserves 18,383 27,052…
A Closer Look at Pembina Nisku Clicklight oil - 42 to edit API Master text styles High deliverability Second level wells with waterflood Allofacility capital equipment now complete Third level Ironhorse Fourthworking level…
Pembina Nisku Oil Click to edit Master text styles Second level o Third level Fourth level Fifth level TSX: V: IOG IRONHORSE OIL AND GAS 12
Complete Gathering System Click to edit Master text styles Second level o Third level Fourth level Fifth level TSX: V: IOG IRONHORSE OIL AND GAS 13
Pembina Nisku L2L Pool Production Click to edit Master text styles Second level Water Injection o Third level 700-800 BWPD Fourth level Fifth level 400-500 BOPD TSX: V: IOG IRONHORSE OIL AND GAS 14
Outlook Management continues Click to edit Mastertotext workstyles with its partners to enhance and stabilize production at Pembina Second level Facility upgrades will allow the Pembina Nisku wells to produce at o Third level…
Appendix Click to area Pembina edit Master related text photos styles in subsequent slides: Second Sinopec level Multi Well Battery Daylight o Third level 13-2-50-6W5 site (Circa 2013) Fourth level Sinopec 13-2-50-6W5…
Sinopec Daylight Multi Well Battery Tomahawk 13-2-50-6W5 Click to edit Master text styles Second level o Third level Fourth level Fifth level Field Trip Jan. 7, 2015 TSX: V: IOG IRONHORSE OIL AND GAS 17
13-2-50-6W5 Site (circa. 2013) Pembina LACT Stn. Tank Farm Click to edit Master text styles (6, 750 bbl tanks) Flare Stack Second level o Third level MCC Fourth level Group Sep. Office Fifth level H2S Analyzer Well Storage…
Sinopec 13-2-50-6W5 Battery Post Expansion ToClick to edit Master text styles Sinopec 8-7 Compressor (then to Keyera MBL Plant) H2S Blend Gas from Arc Analyzer Second level Manifold o Third level Gas VRU Ellerslie Sep…
13-2-50-6W5 Wellhead 300 m3/d (30 m3/d oil) Newtext Click to edit Master Compressor styles New Group Sep Second level o Third level Office Fourth level Fifth level TSX: V: IOG IRONHORSE OIL AND GAS 20
Tank Farm : 4,750 bbl tanks available for oil : 2,750 bbl tanks available for water Click to edit Master text styles Second level o Third level Fourth level Fifth level TSX: V: IOG IRONHORSE OIL AND GAS 21
Click to edit Master text styles Second level o Third level Fourth level Fifth level Treater Building - overlooking new oil boot Treater TSX: V: IOG IRONHORSE OIL AND GAS 22
Click to edit Master text styles Second level o Third level Fourth level Fifth level New 800 hp Compressor TSX: V: IOG IRONHORSE OIL AND GAS 23
Click to edit Master text styles Second level o Third level Fourth level Fifth level GRIZZLY 7-5-50-6W5 Well Site TSX: V: IOG IRONHORSE OIL AND GAS 24
Contact Information Click to edit Master text styles Second level Larry Parks, President & CEO o Third level Karen Hutson, VP Finance & CFO Fourth level Fifth level Suite 1000, 324 8th Ave SW Calgary, AB T2P 2Z2 (403)…