TSX-SGI September 2005 Investor Presentation September 2005.
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<ul><li> Slide 1 </li> <li> TSX-SGI September 2005 Investor Presentation September 2005 </li> <li> Slide 2 </li> <li> TSX-SGI September 2005 Corporate Development Strategy The Plan Growth through a balanced approach of acquisitions combined with aggressive exploitation of upside Significant surplus tax pools provides a competitive advantage Acquire and develop quality asset base featuring long-life reserves with high operating net-backs Generate a balanced prospect inventory including low risk development, medium risk exploration and high impact reserve targets Maintain an in-house technical team skilled in resource play development, conventional exploration and efficient operations </li> <li> Slide 3 </li> <li> TSX-SGI September 2005 Performance to date The Results Acquisitions Completed four corporate and 3 property acquisitions Increased NAV per share to $1.60/share up 130% compared to re- capitalization at $0.70/share in December 2003 Efficient Operations Executed 35 operations in 2004 including 23 wells drilled at an 88% success rate Delivered top-quartile F&D costs of $11.16/boe Proven plus Probable Developed strong prospect inventory of over 60 opportunities 7.7 MMboe Proven plus Probable reserves pro-forma Goose River transaction as at March 31, 2005 Drilled 18 wells year to date in 2005 with 100% success completions and tie-ins underway </li> <li> Slide 4 </li> <li> TSX-SGI September 2005 Time Line Resource Play Development Acquisitions Exploration and Development Drilled 23 WellsDrilled 2 WellsDrilled 26 Wells </li> <li> Slide 5 </li> <li> TSX-SGI September 2005 J. Cameron Bailey (CFA) President & CEO Michael Wuetherick (P.Eng) VP Corporate Development & COO Dave Meleshko (P.Eng) Executive VP Darcy Lamb (P.Eng) VP Operations Tim Campbell VP Land Brian Doherty VP Exploration Barry Edmonson (P.Geol) Senior Geologist Gary Walker (P.Geol) Senior Geologist Jamie Jeffs ( CA ) CFO Management Team </li> <li> Slide 6 </li> <li> TSX-SGI September 2005 Norman McIntyre (P.Eng.) Chairman Former President of Petro-Canada George Watson (P.Eng.) Former CEO of TransCanada Pipelines Ltd. Barry Giovanetto (CA) President of Rayquest Holding Ltd. Randy Harrison (P.Land) President of Stallion Energy Inc. J. Cameron Bailey (CFA) President and CEO of SignalEnergy Inc. Curt Hartzler (P.Eng)President and CEO of G2 Resources Inc. Hugh Mogenson (P.Geol) Former Chairman of Goose River Resources Board of Directors </li> <li> Slide 7 </li> <li> TSX-SGI September 2005 Where we are Today Production1,700-1,800 boe/d Natural Gas 75% Oil and Liquids25% March 2005 Year End Reserves (mboe) Proven5,054 Proven & Probable7,770 Undeveloped Land 52,000 net acres Net Asset Value Per Share$1.60 RLI (based on current production) Proven7.7 years Proven & Probable11.8 years </li> <li> Slide 8 </li> <li> TSX-SGI September 2005 Signal Score Card (Since recapitalization in December 2003 based on 2004 Reserve Estimates) Finding & Development Costs without with Future Capital Future Capital Total Proven $14.94/boe $16.30/boe Proven & Probable $ 9.81/boe $11.16/boe Recycle Ratios Total Proven 2.1 times Proven & Probable 3.2 times Operating Costs Total Proven $6.00 -$6.50/boe Full Cycle Capital Efficiency Full Cycle Capital Efficiency </li> <li> Slide 9 </li> <li> TSX-SGI September 2005 Average 70% increase in production Creating Value on Major Acquisitions Production Increases (boe/d) Production Increases (boe/d) 2005 Exit Rate Acquired </li> <li> Slide 10 </li> <li> TSX-SGI September 2005 Average Daily Production boe/d Boe/d </li> <li> Slide 11 </li> <li> TSX-SGI September 2005 Production Per Share 74% Growth Rate in 2005 </li> <li> Slide 12 </li> <li> TSX-SGI September 2005 Pro-forma Net Asset Value December 2003 December 2004 (millions) (millions) Reserves @10% DCF nil $101.7 Undeveloped Landnil $ 9.9 Tax Pools$ 5.5 $ 5.5 Net Working Capital$14.4 ($ 6.9) Net Asset Value$19.9 $110.2 Shares Outstanding28.4 68.5 Net Asset Value per Share$ 0.70 $1.60 Growth in Asset Value per Share 130% Note: The above is presented on a pro forma basis after giving effect to the Goose River, Predator and Privateco acquisition and the Twining disposition. </li> <li> Slide 13 </li> <li> TSX-SGI September 2005 Ideal Budget Allocation Prospect Development Pyramid GeotechnicalResources Three Geologists One Geophysist Three Engineers New Concept Plays & High Risk Exploration </li> <li> Slide 14 </li> <li> TSX-SGI September 2005 The Landscape has Changed Prospect Development Pyramid ExploreCos Peer Group Seeded with inventory drillable prospects and access to land Valuations reflect high growth rates Trusts Transformed into sustainable business models through reinvestment activities Distributions average 64% Low cost of capital Drilling inventory acquired Competition for acquisitions </li> <li> Slide 15 </li> <li> TSX-SGI September 2005 How Does Signal Compete? Average Gas Production Mix 54% SignalEnergy 75% Average Operating Costs$7.67 per boe SignalEnergy$6.00 per boe Proven Reserve Life Index7.0 years SignalEnergy7.7 Years Average Reserves per Well98 mboe SignalEnergy140 mboe Average Production per Well28 boe/d SignalEnergy40 boe/d Trust Comparison </li> <li> Slide 16 </li> <li> TSX-SGI September 2005 Unlocking Hidden Value Tax Pools$90 million 100% Write-off Pools $60 million Signal can shelter proceeds from the sale of its producing assets Signal has developed assets that are highly marketable and valuable to the Trusts Trust can provide access to undeveloped land Signal has very attractive trading chips in a highly competitive cash rich environment. Strategies </li> <li> Slide 17 </li> <li> TSX-SGI September 2005 2005 Capital Budget of $6 MM for remainder of year Always maintain prospect inventory double available capital Manage portfolio risk exposure by high-grading opportunities Exploration and medium risk projects to provide contingent follow-up low risk development locations $43 MM Prospect Inventory High Risk Exploration: 2 Drilling Locations 320 boe/d 700 Mboe Reserves Low Risk Development: 32 Operations 857 boe/d 2227 Mboe Reserves Medium Risk: 20 Operations 926 boe/d 1225 Mboe Reserves </li> <li> Slide 18 </li> <li> TSX-SGI September 2005 Core Areas Cheap Deep (Resource Plays) Chigwell Buick Creek Bashaw Conventional Plays Carrot Creek Elmworth Kaybob Redwater </li> <li> Slide 19 </li> <li> TSX-SGI September 2005 Chigwell / Bashaw Low Risk Development Current production of 285 boe/d Multi-zone targets to depths of 1700 m 9 gross (4.5 net) sections of undeveloped land 2005 Capital Program: Q2 &Q3 Drilled 7 wells and completed three tie-ins Q4 3 Drills and 7 tie-ins 2006 Capital Program: Drill 15 CBM locations Re-enter 2-3 wellbores for Ostracod potential T.42 T.41 R.22 T.43 R.23R.24R.25 W.4 </li> <li> Slide 20 </li> <li> TSX-SGI September 2005 Multi-zone Mannville-Rock Creek at depths to 2500 m Follow-up on recent drilling success 41 gross (31 net) sections of undeveloped land 2005 Capital Program: Q2 & Q3 Drilled 4 wells and completed one tie-in Q4 3 wells and 3 tie-ins 2006 Capital Program: Drill 3-5 additional wells pending success Carrot Creek Medium Risk R.14 W.5R.13R.12 T.52 T.51 T.53 </li> <li> Slide 21 </li> <li> TSX-SGI September 2005 Target Ellerslie Oil at depth of </li> <li> Slide 22 </li> <li> TSX-SGI September 2005 2005 Fourth Quarter Activity Q4 Expected Prod. adds Q4 Drilling No. of Wells(boe/d) Redwater7350 Bashaw / Chigwell235 Carrot3*nil Exploration1*nil Total Drilling13385 Q4 Tie-ins Redwater220 Bashaw / Chigwell735 Carrot3150 Total Tie-ins12205 Total Operations25590 * First Quarter 2006 Tie-in </li> <li> Slide 23 </li> <li> TSX-SGI September 2005 Shares Outstanding 68.5 million Recent Share Price$1.40 Market Capitalization$95.9 million Pro-forma Debt$22.5 million Pro-forma Lending Facility$27.0 million Total Capitalization$118.4 million Capitalization </li> <li> Slide 24 </li> <li> TSX-SGI September 2005 2005 Average Production1,300 boe/d Cash Flow Per Share$0.17 per share 2005 Exit Rate2,500 boe/d Annualized Exit Rate Cash Flow$23.4 million Annualized Exit Rate CFPS$0.38 Remaining 2005 Capital Expenditures$6.0 million Year-end Exit Debt $22.0 million Reserve Life Index11.8 years Tax Pools$90 million 2005 Guidance Price Assumption $50 WTI </li> <li> Slide 25 </li> <li> TSX-SGI September 2005 Why SignalEnergy? Attractive Metrics EV per boe/d - Average 2005 Production$ 90,770 - Current Production$ 65,500 - 2005 Exit Rate$ 47,200 High Quality Assets - Long Life Assets - 11.8 year Reserve Life Index - Low Operating Costs $6.00 - $6.50 per boe Significant Unused Tax Pools - $ 90 million Excellent Prospect Inventory Top 10% Industry Performance EV per boe = $ 15.94 - Lower than Industry average F & D Costs </li> <li> Slide 26 </li> <li> TSX-SGI September 2005 Corporate Information SignalEnergy Inc. 600, 311 6 th Avenue S.W. Calgary, Alberta T2P 3H2 Email:email@example.com Website:www.signalenergy.com Investor Relations Contacts: President & CEOJ. Cameron Bailey firstname.lastname@example.org VP Corp.Dev &COOMichael Wuetherick email@example.com Corporate AnalystTeresa Beets firstname.lastname@example.org This presentation may contain forward-looking statements, including statements regarding the business and anticipated financial performance of SignalEnergy (the Company). These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, fluctuations in commodity prices, weather, access to capital markets, competition, changes in technology and government policies. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. The Company believes that the expectations reflected in these forward-looking statements are reasonable; however, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be relied upon. In addition, these forward-looking statements relate to the date on which they are made. Unless otherwise required by applicable securities legislation, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Phone: (403)398-3345 Fax: (403)398-3351 Toll Free: 1-866-592-6205 </li> </ul>
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