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Tourmaline Oil Corp
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May 2015 Corporate Presentation
| Michael L. Rose | Page 18 of 11 |
November 24, 2024
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Gas Development Location Inventory and Economics AB Deep Basin Outer Foothills AB Deep Basin B.C. Montney Charlie Lk Vertical Vertical Horizontal Horizontal Horizontal Total Well Costs 3.7 5.25 5.2 3.7 3.5 (Drill, Case, Complete, $ Million) Average Reserves/Well (bcfe)* 2.5 5.5 5.5 6.1 2.2 Year 1 Production Rate 1.45 mmcfpd 3.0 mmcfpd 3.5 mmcfpd 3.5 mmcfpd 237 boepd Development Cost/boe $8.88 $5.73 $5.67 $3.62 $9.36 Operating Expenses/boe $4.00 $4.50 $3.50 $3.50 $10.00 Royalty Rate 8% 8% 7% 18% 22% Net Present Value @ $2,994 $9,276 $10,131 $11,517 $5,136 10% (000’s) Internal Rate of Return 31% 58% 70% 116% 56% Year 1 Gas Price ** $3.59 $3.69 $3.64 $3.38 $3.99 Future Development Locations 2,850 450 4,120 1,100 1,420 * management internal estimate (2 wells/section) ** Independent Reserve Engineer Apr 1, 2015 escalated price forecast, adjusted for transportation and heat content 810 net future locations in 2014 GLJ report Apr 2015 18