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CORPORATE PRESENTATION – Chinook Energy, Inc.

Chinook Energy, Inc. · May 1, 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 – Chinook Energy, Inc. – slide 1
    Annual General Meeting of Shareholders
  2. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 2
    Chinook at a Glance Quality and Scale Canada Tunisia Cash Flow Funded Growth Canada 100% Oil Focused Capital Program Tunisia Continued development Q1/14 Production: 7,928 boe/d (38% oil & NGL) Q1/14 Production: 1,833 boe/d…
  3. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 3
    Capitalization & Market Value As at May12, 2014 unless noted Share price 1.85 Shares outstanding 214.2 million 20% Options (avg. strike 1.85) 13.6 million 38% Market capitalization 421.4 million 36% Net debt Q1 2014 74.4…
  4. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 4
    Focus on Quality Barrels Production vs Cash Flow Debt to Cash Flow Cash Flow Per Share & Debt Adjusted Cash Flow Per Share 3.5 0.59 0.57 0.52 0.47 0.47 0.41 1.7 0.38 0.37 0.30 0.30 0.9 0.7 0.7 2010 2011 2012 2013 2014…
  5. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 5
    Q1 2014 Unaudited Results & 2014 Revised Guidance Q1 2014 2014 Revised 2014 Unaudited Results Guidance (1) Guidance (2) Production (boe/d) 9,761 9,750-10,500 9,500-10,250 Cash flow 28.4 million 95-105 million 82-90 million2 Capex…
  6. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 6
    Canadian Core Area Grande Prairie/PRA Canadian growth and development UMBACH/BIRLEY Dunvegan and Montney opportunities (Montney) 14 wells planned for 2014 11 Hz Dunvegan oil locations (6 operated) AB 4 drilled in Q1 3 Hz Montney…
  7. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 7
    Grande Prairie Area Dunvegan and Doe Creek Oil Pools 6 established Dunvegan/Doe Sinclair Creek oil pools Beaverlodge Hz drilling is: Developing new oil pools Extending mature oil pools Albright Drilled 19 gross Hz Dunvegan…
  8. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 8
    Karr Area - Dunvegan 10 Hz wells drilled and put on production 4 Hz wells drilled in Q4 /13 and 1 drilled in Q1/14 Current production from the property is WHITECAP over 800 BOE/D net (80% oil) WELLS 2014 Program 5 Hz…
  9. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 9
    Karr Area Dunvegan Economics Wells averaging 355 BOE/D each Key Economic Attributes (80% oil) after 3 months and 271 BOE/D Wells Drilled 10 (3.2 net) each after 6 months Wells Budgeted (2014) 5 (1.6 net) Wells outperforming type…
  10. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 10
    Albright/Beaverlodge - Dunvegan Have increased production by almost OOIP: 6 MM BBL 400% in 16 months (280 to 1,380 CTD: 0.4 MM BBL (7% RF) BOE/D) Ten (8 net) HZ wells drilled to date 9 on production 6 (5.5 net) Hz wells budgeted…
  11. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 11
    Albright/Beaverlodge - Dunvegan Wells averaging 157 BOE/D (82% oil) after 3 months Key Economic Attributes 4 (3.5 net) new Hz wells drilled Wells Drilled 9 (7.0 net) 3 on production in Q1/14 Wells Budgeted (2014) 6 (5.5 net) 2 Hz…
  12. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 12
    Grande Prairie Area - Montney Gold Creek and Knopcik areas along Montney wet gas and oil KNOPCIK window boundary Recent offsetting wells reported Production rates up to 600 bopd & 4mmcf/d Very high liquids content Land sale activity…
  13. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 13
    Grande Prairie Area - Montney Testing Upper and Middle Montney intervals in the Gold Creek First Montney Hz well (CKE operated, 37.5% WI) drilled in Q1 /1 7 day test final rates 554 bopd, 3.3 MMcf/d (25% of load water recovered)…
  14. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 14
    Birley/Umbach Area - Montney CKE holds 35 sections of Montney rights Owns a gathering system 10 mmcf/d facility capable of sour gas handling with minor modification (underway) Peers active in Umbach with recent well IPs of 3 6 MMCF/D…
  15. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 15
    Tunisia CKE holds 1.3 million net acres (equivalent to 2,400 sections) over 4 concessions and 4 exploration permits 76/bbl operating netback in 2013 Approximately 32% of Chinooks operating revenue was from Tunisia production in…
  16. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 16
    Ghadames Basin Project 2014 Activity BBT Concession (6 Wells all vertical) Borj El Khadra Permit (1 well at 10%) Key Ghadames Basin Business Plan Elements: Continue to increase cash flow from BBT in 2014 with another active…
  17. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 17
    Bir Ben Tartar Concession BBT Concession: 86,981 Acres (352km2) Current Vertical Wells (10) Structure Size: 13,750 Acres (22 Sections) Current Horizontal Wells (5) 2014 Locations (6) 11 18 19 13 5 BBT 11 28 16 29 7…
  18. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 18
    Sud Remada Exploration Permit BBT Concession represents less than 8% of the size of the Sud Remada Permit Numerous exploration leads on a 1mm acre (1,500 sections) block with 12 wells drilled since 1957 250 km2 3-D seismic program…
  19. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 19
    Exciting Start to 2014 Strategy is Working Well Funded Fully funded 2014 capital program with cash flow and existing bank line Western Canada Well funded and focused Peace River Arch player with strong growth potential in both…
  20. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 20
    Contact Walter Vrataric, President & CEO Chinook Energy Inc. Suite 1000, 517 10th Avenue SW Calgary, Alberta, Canada T2R 0A8 www.chinookenergyinc.com T: 403.261.6883 F: 403.266.1814 infochinookenergyinc.com 22
  21. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 21
    Experienced Leadership Management Canada Management Tunisia Walter Vrataric President & CEO Roy Smitshoek COO International Tim Halpen COO Canada Vice President, Travis Stephenson Engineering (International) and General Manager,…
  22. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 22
    Analyst Coverage TSX: CKE Firm Analyst TD Securities Shahin Amini National Bank Financial Dan Payne Macquarie Equities Research Ray Kwan Peters & Co. Dan Grager FirstEnergy Capital Robert Fitzmartyn Cormark Securities Garrett…
  23. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 23
    Chinook Asset Value Net Asset Value (1) 2P reserves NPV, 10% (2) 527 million Net asset value(4) PDP reserves 1.09 /share Total proved reserves 1.63 /share Total proved plus probable reserves 2.46 /share Net debt (Q4 2013-Est.)…
  24. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 24
    Chinook Reserves (1) Gross Gross Gross December 31, 2013 Company Reserves Canada Reserves Tunisia Reserves Proved - developed 14.1 mmboe 12.7 mmboe 1.4 mmboe producing Proved - undeveloped 3.7 mmboe 1.5 mmboe 2.2 mmboe Total…
  25. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 25
    2014 Hedging Positions Company Indexed Price Notional Volumes Period Received Price Jan 1/14 to AECO 5,000 GJ/d 3.25/GJ to 3.50/GJ Dec 31/14 Jan 1/14 to AECO 5,000 GJ/d 3.68/GJ Dec 31/14 Apr 1/14 to AECO 5,000 GJ/d 3.5025/GJ…
  26. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 26
    Offshore - Gulf of Hammamet (Cosmos 80%-Hammamet 35%-Yasmin 100%) Undeveloped discoveries at Cosmos, Tazerka, Yasmin & Fushia Alternative appraisal program decision at Cosmos made in Q1/13 Numerous shows and leads on the 1.2mm acre…
  27. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 27
    Tunisia PSC and JV Fiscal Terms Adam Hammamet Sud Remada Cosmos Yasmin Jenein Centre (5% WI) & BEK (35% WI) PSC (86% WI) PSC (40% WI) JV (100% WI) JV (65% WI) PSC (10% WI) - JV Profit Oil/Gas Profit Oil/Gas Profit Oil/Gas Profit…
  28. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 28
    Appendix Tunisia Blocks Sud Remada The Sud Remada Block is located onshore in the far southern region of Tunisia bordering with Libya to the south and east, approximately 100 kilometres southeast of the Mediterranean Sea shoreline. The…
  29. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 29
    Appendix (contd) Tunisia Blocks (contd) Sud Remada (contd) Based on the subsequent appraisal wells completed at TT3 and TT4 in 2011, CKE applied for and was granted the Bir Ben Tartar Concession over a 86,981 gross acre block with a 30…
  30. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 30
    Appendix (contd) Tunisia Blocks (contd) Borj El Khadra Exploration Permit A 10% non-operated interest in the BEK Permit (subject to an obligation to pay costs incurred, varying from 5% to 10%, depending on ETAP participation) was also…
  31. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 31
    Appendix (contd) Jenein Centre (contd) CKE drilled the JC1 well to a 4,400m depth beginning in May 2010 and by early September the well had been suspended following an unsuccessful completion attempt on the Silurian Acacus Formation,…
  32. CORPORATE PRESENTATION – Chinook Energy, Inc. – slide 32
    Appendix (contd) Cosmos (contd) The most clearly defined fault block is the Cosmos South A block which was delineated and drill stem tested in 1983 by the Cosmos South (CMS-1) well. Cosmos South is potentially productive from the Birsa…

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