Argent Energy Trust Snapshot Income: 8% cash-on-cash yield Argents 2014E production is expected to average 6,000 BOE/d 68% oil and NGLs Our assets are focused in Texas, Oklahoma, Kansas and Wyoming and consist of: Oil resource…
Corporate Overview (AET.un) Market Capitalization: 180 MM Enterprise Value: 430 MM Units Outstanding (basic): 62.3 MM Unit Price Range: 2.59 10.75 per unit Annual Distribution: 0.24 per unit (35-40% cash payout ratio) Current…
Argent Assets Diversified portfolio of opportunities in Asset Location Texas, Oklahoma, Kansas and Wyoming Eagle Ford oil Texas, Oklahoma, Kansas and Wyoming oil Legacy fields Established long lived production SE Texas natural…
Key Reserves Information 2P Reserves Growth - Working Interest Net Asset Value CMM 50 0.80 Reserve Value 1 679.3 42.0 MMboe Land Value 2 44.8 Proved + Probable Reserves (MMboe) Proved + Probable Reserves Per Unit 0.75 40 Less:…
Improving Corporate Netbacks Argents corporate netback has improved by 60% since inception1 reflecting strong growth in oil production and its relative weighting on a corporate basis Netback Growth1 40 35 30 Netback (/boe)…
Advantages of Southern U.S. Production Existing Pipelines Proposed Keystone XL Pipeline Edmonton Par Calgary Transportation cost from Edmonton Par to WTI = 5 to 20 WTI Hub (Cushing Oklahoma) Transportation cost…
Eagle Ford Oil (20,000 acres) Eagle Ford acreage in rapidly developing Eagle Ford area One of the most active shale plays in the U.S. with high levels of operational and acquisition activity Argent acreage offset activity since Jan…
Highlights: Acquisition Summary Acquistion Name Close Date Acquired Production1 Avg Netback Avg Oil Weighting Purchase Price Operating CF2 Capital Spent3 GLJ Reserve Value 4 (BOE/d) (/boe) (%) (MM) (MM) (MM) ( YE2013 MM) EQ Energy Oct…
Highlights: Drilling Drilled 11 successful Eagle Ford (EF) oil wells 9 successful producing EF wells 4 Hrncir, 1 Haydens, 2 Moesker, 1 Briscoe, 1 Cherry Heirs well (Fayette County) 2 Makers wells in Gonzalez County are awaiting…
Wyoming Acquisition Acquisition Metrics Purchase price of US102 MM, 13.60/boe 2P reserves Operating netback 40/boe Base decline of 13% Accretive on cash flow per unit, payout ratio and sustainability ratio measures Provides further…
Kansas Acquisition Acquisition Metrics Purchase price of US45 MM, < 5x CF, 18/boe 2P reserves Operating netback 42/boe Base decline of 15% Accretive on cash flow per unit, payout ratio and sustainability ratio measures Provides…
Wapiti Acquisition Acquisition Metrics Purchase price of 114 MM, 3.9x CF, 13/boe 2P…
EQ Acquisition Acquisition Metrics Purchase price of 132 MM, 23/boe 2P reserves Operating netback 50/boe Base decline of 10% Texas Manvel Field Oklahoma NE Davis Field, Payne Field (East Located in Brazoria County, Texas on Gulf Coast…
South Texas Natural Gas South Escobas Geology South Texas Natural Gas Wilcox formation adjacent to fields that have produced 600 Bcf to date Downdip Wilcox trend has produced over 3.5 Tcf to date Low break-even gas price 1.00/Mcfe…
Trading Comparables Selected Trading Comparables Fully Diluted Total Debt / Daily Production 5 Cash on Payout 7 EV / EV / 1 2,3 Share/Unit Market Entity EBITDA 2014E RLI 6 Cash Yield Ratio 1,3 EBITDA Production 5 Reserves Price…
Summary Annual distribution paid in cash monthly 8% cash-on-cash yield Long life assets P+P Reserve Life Index (RLI) = 19 years1 Proved RLI = 12 years1 Large inventory of low-risk exploitation opportunities Control over operations…
Income, Growth & Value Contact: John Elzner, President and CEO Sean Bovingdon, CFO Lindsay Rimell, Manager of IR 500, 321 6th Ave SW Calgary, AB T2P 3H3 403.770.4809 infoargentenergytrust.com www.argentenergytrust.com TSX:AET.un
Sensitivities C/US FX, WTI, NYMEX1 1 decrease US1/Bbl increase 1/MMcf increase in C vs. US in WTI in NYMEX nat gas = = = 600K 1MM 3MM increase in increase in increase in operating operating operating cash flow cash flow cash…
Argent Advantage for U.S. Investors Current cash dividend C0.24/unit/year 65% Return of Capital (ROC) and 35% Qualified Dividend (2014 est) C-Corp. for tax purposes Form 1099 (versus MLP Schedule K-1 Form) No withholding tax for U.S.…
Structure Tax efficient mutual fund trust structure Interest and operating deductions result in no Unitholders Administrator Shareholder material U.S. taxes for several years No SIFT tax in Canada Investment Income and Capital…
Argent Energy Trust Executive Team Executive Background John Elzner Over 30 years of executive and management experience President and CEO Previous senior positions with El Paso Corporation and Coastal Corporation Senior Vice President…
Argent Energy Trust Board of Directors Director Background John Elzner See management bios President & CEO Eric Tremblay Over 20 years of executive experience acquiring, producing and developing oil & gas assets in Canada Chairman and…
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