OUR ASSET BASE

A World-Class Position in a Leading North American Play – Alberta’s Deep Basin

  • ~280,000 contiguous net acres in the Greater Kakwa area with stacked, prolific resources
  • Very high working interest – 100% in core areas
  • Marquee development targets include Spirit River gas (Wilrich, Falher, Notikewin) and Cardium oil, Dunvegan oil
  • 100% owned and operated infrastructure – 125mmcf/d processing capacity
  • Top tier supply costs, very low operating costs
  • Inventory of 200+ Spirit River locations (includes 1.0, 1.5, and 2.0 mile laterals) and ~320 Cardium locations
  • 222 MMboe net 2P reserves
  • Backed by leading private equity partners ARC Financial Corp. and EnCap Investments L.P.

OUR TRACK RECORD (CAD$)

Unique Growth and Unique Value

  • Spirit River gas wells: <$5.0 Million D&C… IP30 over 15mmcf/d
  • Spirit River opcosts: $0.29/mcfe
  • Cardium oil wells: <$2.2 Million D&C… IP30 >200boe/d
  • Cardium opcosts: $9.39/boe
  • 2014 exit production: 1,546 boe/d (18% liquids)
  • 2017 exit production: 15,738 boe/d (15% liquids)
  • 2018 drilling focused on increasing liquids production