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Tamarack Valley Energy Ltd
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June 2015 Corporate Presentation
| Brian Schmidt | Page 9 of 11 |
November 21, 2024
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9 Wilson Creek 2015 Tuck-in Acquisition Overview What We Bought • Acquisition price $54 million • Production (45% liquids) 1,450 boe/d • Decline rate 20% • Land 128 sections (88 net) • Reserves • PDP (44% liquids) 3.47 • Proved (43% liquids) 5.75 • 2P (43% liquids) 6.44 • RLI 12.2 • Drilling inventory 70 locations (Including 40 one-mile equivalent less than 1.5 year payout) • Infrastructure replacement cost $60 million • Operating netback at closing $22.97/boe • Facilities included • 100% ownership of 6 mmcf/d gas plant with re-fridge • 1,000 bbls/d capacity central oil battery pipeline connected to Pembina pipeline • 220 km of pipeline infrastructure • 3 minor oil batteries / pump stations Strategic Rationale • Three separate one-off deals • Blocky contiguous lands allow for more long reach development • Additional infrastructure will result in lower costs and higher netbacks Acquisition Metrics (assume no value for undeveloped land) • Flowing $37,000 / boepd • Proved reserves $9.37 / boe • 2P reserves $8.37 / boe • Proved PV10 0.5 • 2P PV10 0.5 • Current CF multiple 4.4x • 2P recycle ratio 2.7