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Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
Altima Resources Corporate Presentation
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Altima Resources Corporate Presentation

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Altima Resources Ltd is a junior energy company engaged in the exploration and development of petroleum and natural gas in Western Canada. It is the Company’s intent to focus on new long life …

Altima Resources Ltd is a junior energy company engaged in the exploration and development of petroleum and natural gas in Western Canada. It is the Company’s intent to focus on new long life petroleum and natural gas prospects in select core areas and grow its reserve base through drilling.

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  • 1. Corporate Presentation January 2014
  • 2. DISCLAIMER Page 2 Certain information regarding Altima Resources Limited (“Altima Resources”) including management’s assessment of future plans and operations, may constitute forward looking statements under applicable securities law and necessarily involve risks, including risks associated with oil and gas exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in any forward-looking statements. Plans, intentions or expectations disclosed in any forward-looking statements or information should not be read as guarantees of future results or events, and will not necessarily be accurate indications of whether or the times at or by which such results or events will be achieved. Except as required by law, Altima expressly disclaims any intention and undertakes no obligation to update any forward-looking statements or information as conditions change. Any offer is subject to normal commercial risk that the offer may not be completed on the terms negotiated or at all. Cautionary Statement: The information provided herein includes references to undiscovered natural gas potential. There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resource. This presentation is confidential and is not for distribution or reproduction without the written permission of Altima Resources
  • 3. Page 3 PROPERTY OVERVIEW ► The Chambers-Ferrier Property represents an under exploited opportunity over a large contiguous land block near Rocky Mountain House, Alberta in Townships 41-42, Ranges 10-12 W5M ► High working interest and Operatorship ► Surrounded by Majors including EnCana-Baytex, Devon, and ConocoPhillips ► Regional and On-Trend Proven Production from Cretaceous, Jurassic and Mississippian Formations ► High initial production rates ► In place production infrastructure and attractive Crown Royalty Structure ► Producing condensate and gas since October 2011 Highlights Upside Opportunity ► Altima has identified 35+ primary drill targets and has the potential for 80+ wells and 7-10 years of drilling inventory ► Targeting multiple stacked Conventional and Resource plays for Vertical drilling ► Focused Horizontal Drilling for Notikewin and Cardium Cretaceous reservoirs ► Several locations ready to License ► 2560 Acres pooled with ConocoPhillips and first joint horizontal well drilled ► Forecasting 2,500 BOE/d within 2-3 years Chambers-Ferrier Altima Lands 6 Miles Altima Chambers-Ferrier Land Holdings
  • 4. Page 4 Attractive Fiscal Regime ► Significant government monetary incentives for deep drilling for gas and oil/condensate ► Extended benefits for horizontal and shale gas ► Current incentive programs guaranteed to 2017 ► Deep gas drilling royalty credits $750M-$2.75 MM/well Significant Presence by Majors ► Bellatrix, Devon Energy, ConocoPhillips, Taqua North, Baytex, Peyto, and Husky Energy all drilling in proximity to property Analogous Success Surrounding Altima’s Assets ► A gas saturated high liquids basin ► Twp. 40-42, Rge. 8-12 W5M over 300 Wells drilled between 2001-2011, 4 wells abandoned and only 2 deeper than the Cardium; 99% success ► In the nine townships encompassing Altima property; 97% success rate in 43 wells drilled from 2006 -2012 Established Infrastructure ► 10.4 km of Altima production infrastructure in place ► Baytex, Conoco, Devon and Keyera pipelines and facilities passing through and to the south of Altima’s land Large Asset Base in Alberta, Canada; a prolific hydrocarbon producing region ► Land Holdings covering 26 sections (16,640 gross acres) and varying interests in 11 wells ► Operatorship & high working interest ► Strong analogous well economics Producing and prepared for growth ► Producing condensate and gas since October 2011 ► Comprehensive 140 sq. miles 3D Seismic across Altima’s acreage Near-term expansion ► Four sections pooled and first well drilled with ConocoPhillips ► Chambers HZ well 14-15 on production November 2013 ► Altima drilled 3201 meter well at 15-35-41-11 W5M and placed on stream September 2013 Multi-well program ► Additional drilling and work-overs on Altima lands planned for Q1 2014 ► 15 well program planned for 2014-2015 ► Forecasting 2,500 BOE/d within 2-3 years Management team with a proven track record in the region Politically Stable Location ► Alberta, Canada INVESTMENT OVERVIEW
  • 5. INVESTMENT STRATEGY & FORMULA FOR GROWTH Page 5 Formula for Growth Investment Strategy ► Enhance shareholder value with a focused exploration and exploitation drill program supported with targeted industry opportunities and acquisitions ► Pursue E & P program focusing on stacked Multi-Zone plays and Cardium and Notikewin core areas to drive growth through vertical and horizontal drilling and multi-stage hydraulic fracturing ► Maintain large land base with significant inventory of low risk drilling opportunities to guide substantial investor upside ► Target increased oil and liquids weighting while maintaining low F&D costs ► Maintain prudent financial management and follow industry best practices ► Inventory of ready to license locations ► Extensive undeveloped land base of 16,640 gross acres ► Stacked Hydrocarbon Bearing Reservoirs ► 3D Seismic Support over entire project area ► Regional Production Infrastructure In Place Drilling on Altima Land at Chambers-Ferrier
  • 6. Page 6 DRILL SUCCESS AND STRATEGY Altima Land 15-35 Discovery Multi-Zone Discovery HZ Discovery Pooled Lands with ConocoPhillips Recent Success/ Near-Term Production Targets ► Multi-Zone Well 14-06-41-10 W5M producing condensate and gas since October 2011 ► Four-section pooling of lands (2,560 acres) with ConocoPhillips completed (30% working interest retained by Altima) ► Altima/ConocoPhillips 14-15-41-11 W5M HZ well drilled to a total MD of 4,280 meters, multi stage fracturing completed over 1,150 meters in target zone, new 3.8 km of pipeline and facilities completed and well placed on production November 2013 ► Altima operated 15-35-41-11 W5M multi-zone well drilled in February 2013, 3.5 miles north or 14-15 well. Well drilled to 3202 meters in 12 days, a record for the area ► 15-35 well multi-zone fraced, completed, 6.4 km of pipeline and infrastructure constructed and on-stream September 2013 ► Acquired six additional off-setting Crown sections to the 15- 35 well in April 2013 ► Offset locations to 15-35 scheduled for drilling Q1 2014 Medium-Term Targets ► Multi-Zone 3-17 well, workover planned for Q1 2014 ► 15 Wells planned for 2014-2015 with cash flows expected within 6 months of spud ► Targeting 2,500 BOE/d production within 2-3 years Long-Term Targets ► Altima has identified 35+ primary drill targets and has the potential for 80+ wells and 7-10 years of drilling inventory
  • 7. ASSET SUMMARY / PRODUCTION INFRASTRUCTURE Page 7 Asset Summary ► Geographically concentrated asset base ► Producing, exploration and development wells ► High liquids rich natural gas play ► Horizontal and Vertical wells ► Excellent infrastructure and access for drilling and services ► Land Base 16,640 gross acres, 80.7% weighted average in 17/26 sections ► Operatorship Production Infrastructure ► Gas and condensate from the producing wells in the North Chambers region flow to the Encana-Baytex compressor station at 12-33- 41-10 W5M ► Gas and condensate from the producing wells in the South Chambers region flow to the ConocoPhillips compressor station at 9-4-41- 11 W6M ► Gas and condensate from these stations move to the Keyera Strachen Gas Plant at 11-35-37- 9 W5M
  • 8. Page 8 AREA ACTIVITY ► Significant industry activity in the area ► Fairborne Energy is extending the Viking gas trend southeastward directly on trend with Altima’s northern lands ► Bellatrix is exploring for prolific Notikewin gas through horizontal drilling to the northeast and east of the Chambers- Ferrier land block ► Numerous companies including ConocoPhillips and Bellatrix are exploring for Cardium production along NW-SE trending deposits which appear to trend through the NE portion of the Chambers-Ferrier land block ► Shallower drilling activity targeting the Belly River, multi- zoned Cretaceous and deeper Nordegg has recently been pursued on and surrounding the Chambers acreage block Area Activity Deep Basin Geologic Setting Notikewin Notikewin Wells Drilled 2006-2012
  • 9. Page 9 GEOLOGY/GEOPHYSICS Chambers-Ferrier; Geological Discussion ► Altima’s Chambers-Ferrier acreage block offers a large contiguous acreage position along trend with the NW-SE trending Mesozoic deformation front in west central Alberta ► Multi-zoned prospective horizons are present over the entire block ► Liquids rich gas (average of 36 bbls/MMcf NGL’s) forms the majority of the area production with some opportunity to encounter oil ► Unique under explored opportunity to target developing trends established through recent offsetting activity ► Numerous geological settings including sheet sands, shoreface, barrier, deltaic, estuarine and stacked fluvial channel sand deposits ► Gas saturated section from the Belly River to the Nordegg ► Opportunities through seismic imaging to explore and exploit multi-zoned upside ► Three plays and several emerging opportunities are present for further exploration: 1. Multi-Zone Play: Numerous lower risk stacked Cretaceous and Jurassic targets over the entire acreage block 2. Notikewin Play: Highly productive emerging horizontal play 3. Cardium Play: Horizontal and vertical high liquids play Emerging Conventional and Resource Play Opportunities ► Edmonton Group sandstones ► Belly River: Prolific opportunity to exploit numerous stacked Belly River channel sands ► Second White Specks Resource Play: Thick imbricate faulted play STRATIGRAPHY acra ener gy@ shaw .ca
  • 10. Page 10 MULTI-ZONE PLAY ► Stacked Formations across entire land block ► Predominantly liquid rich gas ► Vertical wells ► Limited Entry fracturing techniques Comingled productive sands Multi-Zone Producing Well 100/06-11-042-12W5/00
  • 11. Page 11 NOTEKEWIN PLAY ► Within the Chambers-Ferrier area, the Notikewin member is a continental fluvial facies within a coastal plain setting and sealed by tight siltstones and shales ► The Notikewin consists of a number of thick sinuous channel deposits and may be optimally developed through horizontal drilling with multiple completions ► The channels are visible on seismic ► Channels can be over 50 meters thick with pay zones up to 30 meters with effective porosity greater than 6% ► There is a high liquid content to the gas stream (35-70 bbl/MMcf) ► This area is within the Deep Basin Hydrodynamic System characterized by gas saturated sandstones with little or no water production ► In addition to two New Discovery wells at Chambers, there is significant offsetting exploration and development with high initial production rates to the, north, south and east of Altima held lands Notikewin 14-15 Notikewin Discovery Multi-zone Discovery 15-35
  • 12. Page 12 CARDIUM PLAY ► The Hydrocarbon Volume Stored in the Cardium Formation places this unit in the category of a Super Giant with initial Oil in place of over 10 Billion Barrels and established gas in place of over 24 Trillion cubic feet ► The Ferrier Cardium Oil field is the third largest with marketable Cardium oil reserves of over 77 million barrels and the second largest Cardium Gas field with marketable reserves of over 647 Bcf ► Cardium stratigraphy of the Chambers-Ferrier area is a series of northwest-southeast coarsening upward sandstone and conglomerate bars encased in thick shales. ► These Cardium bars can be identified with high resolution 3D seismic ► Altima has proprietary 3D seismic interpretations over their entire acreage block and have identified significant Cardium anomalies not drilled ► Altima 3D seismic modeling at Chambers- Ferrier has resulted in high grading potentially productive Cardium bars on Altima held lands ► The Cardium is a liquids rich formation which can be developed through horizontal or vertical drilling Cardium WellNotikewin Well 15-35 14-15
  • 13. EMERGING COVENTIONAL & RESOURCE PLAYS Page 13 Belly River Play ► The Belly River Formation is a thick clastic wedge of predominantly non-marine channel sediments ► It is comprised of thick, multiple channel sands overlain by interbedded siltstones and shales ► In the Chambers area these channels have a general northwest to southeast orientation ► An extensive meandering channel system is present on the Altima Chambers block ► These gas charged channel sandstones are clearly visible on seismic ► Production is from multiple sandstones at various stratigraphic levels within the same wellbore ► Porosity ranges between 8 – 12% ► Pay thickness may ranges up to 35 meters ► Belly River locations can be drilled as stand-alone targets or deepened and commingled with multi-zone production from the Lower Mannville and Jurassic formations ► There is developing Belly River oil production to the northwest of Chambers Second White Specs Play ► Within the Chambers area the Second White Specs has undergone deformation through imbricate faulting ► This has resulted in an overall increase of formation thickness and (likely) significant micro-fracturing ► Area wells immediately offsetting Altima lands have tested gas from the Second White Specs ► Within the Chambers area the Second White Specks is a medium dark grey marine shale with white calcareous specks and is characterized by a high organic content ► Well logs show high hydrogen indices and radioactivity ► There is developing Second Specs oil production to the southeast of Chambers Belly River 2 White Specks
  • 14. Page 14 CHAMBERS-FERRIER MULITPLE ZONE POTENTIAL *Volumetric reserves using Ave pay parameters **Average 3 month IP rates (T38-43 & R 5-15 W5M) ***Mannville includes Notikewin & Falher UP TO 80-100 BCF/SEC (35-50 BBLS/MMCF)
  • 15. ANALOGOUS WELL ECONOMICS & DECLINE CURVES Page 15 IP: 2.75 MMCF/D RESERVES: 5 BCF 46 BBLS/MMCF PV10: $12MM NET OF CAPITAL IRR: >70% INTERNAL RATE OF RETURN $3.94/BOE CAPITAL COST CHAMBERS/FERRIER DEEP BASIN MULTI ZONE PLAY
  • 16. 16 1% 2% 5% 10% 20% 30% 40% 50% 60% 70% 80% 90% 95% 98% 99% 1 10 100 1000 10000 Multi zone 3 month IP 1000 MCF/D CUMULATIVEPROBABILITY(%) 3 MONTH INITIAL PRODUCTION RATE PER WELL (MCF/D) MOST WELLS UTILIZED OLDER COMPLETION TECHNIQUES CHAMBERS/FERRIER MULTI ZONE INITIAL PRODUCTION Page 16
  • 17. 17 1% 2% 5% 10% 20% 30% 40% 50% 60% 70% 80% 90% 95% 98% 99% 1 10 100 1000 10000 Multi zone P50 reserves 2.4 BCF/well RESERVES PER WELL MMCF CUMULATIVEPROBABILITY(%) MOST WELLS UTILIZED OLDER COMPLETION TECHNIQUES CHAMBERS/FERRIER MULTI ZONE RESERVES Page 17
  • 18. ALTIMA POTENTIAL VALUE Page 18 Well type Multi Zone Cardium VERT Notikewin HZ Cost Per Well $3,850M $3,850M $4,820M Company estimate of wells in portfolio 80+ 5+ 7+ Potential Reserves – BCF – MMSTB >250 >7 >45 >1.5 >23 >0.9 Potential Gross Revenue $2,966MM $483MM $210MM Potential Value $525MM+ $93MM+ $95MM+ ► Altima has identified, through existing seismic data, a large number of wells analogous to those already producing in the area ► Focused plans to develop multiple high impact targets with short lead times to production and rapid payback ► Company is focused on near-term production build-out with additional drilling to increase reserves ► High residual working interest may allow the company to partner with other operators in the area ► Developing wells rich in condensate for near term revenue and highly leveraged to upside on gas prices ► Extensive proprietary seismic interpretations to be utilised to expand acreage
  • 19. APPENDIX 1 – CORPORATE SNAPSHOT Page 19 Canadian 64% United States 18% International 18% *Approximate percentage, based only on registered shareholders Joe DeVries 6.21% Stephen Watts 6.53% Rick Switzer 0.81% Jurgen Wolf 0.75% James O’Byrne 2.08% Robert Haveman 5.63% Stock Exchange TSX-V Trading Symbol ARH 52 Week High/Low $0.16-0.04 Outstanding Shares 315,716,516 Stock Options1 12,000,000 Warrants2 76,296,720 Fully Diluted Share Capital 404,013,236 MAJOR SHAREHOLDERS MARKET STATISTICS SHARE PRICE CHART 1 Average Stock Option Exercise Price of 0.115 2 Average Warrant Exercise Price of 0.10
  • 20. APPENDIX 2 – 2014 Q1-Q2 OPERATIONS BUDGET Page 20 Detail Altima Working Interest % $ (Thousand) 14-15 Pipeline Connection Funded 5-35 Vertical Well 100 Funded 9-35 Vertical Well 100 Funded 3-17 Workover 85.7 Funded Total NIL 1 Well cost $4.5million may be funded through Whistler Oil and Gas Partnership 2013 2014 WELLS Q3 Q4 Q1 Q2 Q3 Q4 14-15 9-35 3-17 CompletedPipelineDrill Workover Production 5-35
  • 21. 21 GAS VALUE BUTANE VALUE PROPANE VALUE CONDENSATE VALUE $2.81/MCF $ 0.97/MCF $ 0.81/MCF $5.89/MCF $10.48/MCFe Liquids content more than TRIPLES the value per MCF produced ALTIMA CHAMBERS 15-35 WELL Condensate 50 bbls/mmcf Propane 29 bbls/mmcf Butane 16.5 bbls/mmcf Sproule August 31, 2013 Gas $2.81/Mcf Condensate $117.86/bbl Propane $27.81/bbl Butane $58.87/bbl CHAMBERS 15-35 MULTI-ZONE LIQUIDS RICH DISCOVERY WELL APPENDIX 3 – CHAMBERS/FERRIER DEEP BASIN LIQUIDS VALUE Page 21
  • 22. Page 22 APPENDIX 4 – ALBERTA ROYALTY FRAMEWORK Alberta Royalty Framework (ARF) – May 2010* Natural Gas Deep Drilling Program ► Royalty benefit $625/m (2,000-3,500m) and $2,500/m (3,500-4,000m), amounts to approximately $750,000 for a typical Chambers-Ferrier deep basin vertical well ($2.5 million for a Cardium/U. Mannville Horizontal well) New Well Royalty Reduction Program ► New Gas - 5% royalty rate for the first 12 months up to 500 MMCF (50,000 BOE) ► Horizontal Gas – Extends 5% royalty rate up to 18 months of production ► Shale gas – 5% royalty rate to 36 months of production with no volume limit * Government will review in 2014 and commit to providing 3 years notice to any revisions Fracing COPOL HZ 14-15-41-11 W5M
  • 23. APPENDIX 5 - ANALOGOUS WELL ECONOMICS & DECLINE CURVES Page 23 Well type Multi Zone Cardium VERT Notikewin HZ Total Cost per Well ($mm) 3.9 3.9 4.8 Average Gross Reserves – BCF 3.1 9.0 3.3 – MSTB 87.5 291.3 127.5 Average Mcf/d (Year 1) 1,009 2,500 1,700 Total Liquids (Bbls/MMcf) 28 32 39 Gross Revenue ($mm) (Year 1) 3.0 5.0 6.0 Net Revenue NPV 10% ($mm) 8.7 18.6 13.5 Average (per well) economics from wells surrounding Altima’s land: Notikewin Production * Source: Energy Navigator, Fekete Engineering Report, Bellatrix Exploration Presentation, Altima Resources Ferrier Multi Zone Well ► 27 Bellatrix, ConocoPhillips and industry Notikewin gas wells greater than 10MMcf/d on test from the regional stacked channel trend
  • 24. APPENDIX 6 - CHAMBERS/FERRIER MULTI ZONE RATE/RESERVES RECENT COMPLETION MULTI ZONE FRACS IP: 2.75 MMCF/D EST RESERVES: 5 BCF` Page 24
  • 25. APPENDIX 7 - CHAMBERS/FERRIER DEEP BASIN MULTI ZONE PLAY CAPEX (GROSS) $MM DRILL & CASE $2.80 COMPLETE $1.00 EQUIP & TIE IN $0.35 TOTAL $4.15 OPEX (GROSS) $ FIXED ($/MTH) $3,000 VARIABLE ($/MCF) ($/BBL) $.90 $2.00 P/L TARIFF ($/MCF) $ .15 ASSUMPTIONS RESERVES BCF MSTB 2.7 140 IP (MMCF/D) 1.5 LIQUIDS (BBLS/MMCF) CONDENSATE (BBLS/MMCF) 22 24 Sproule Sept 2012 Price Deck 5% NWRR Program NGDDP Incentives ($0.75MM) GROSS ECONOMICS (UNRISKED) RATE OF RETURN 44% PAYOUT (YEARS) 2.4 NET PRESENT VALUE (PV10: $MM per well) $4.4MM Per well economics using Ferrier 14-06 Analog and Fekete NI 51-101 Rate/Reserves 25 Page 25
  • 26. APPENDIX 8 - FERRIER NOTIKEWIN HORIZONTAL PLAY CAPEX (GROSS) $MM DRILL & CASE $3.28 COMPLETE $1.19 EQUIP & TIE IN $0.35 TOTAL $4.82 OPEX (GROSS) $ FIXED ($/MTH) $3,000 VARIABLE ($/MCF) ($/BBL) $.90 $2.00 P/L TARIFF ($/MCF) $ .15 ASSUMPTIONS RESERVES BCF MSTB 3.2 125 IP (MMCF/D) 4.0 LIQUIDS (BBLS/MMCF) 35 Sproule September 2012 Price Deck 5% NWRR Program NGDDP Incentives ($2.75MM) GROSS ECONOMICS (UNRISKED) RATE OF RETURN 74% PAYOUT (YEARS) 1.4 NET PRESENT VALUE (PV10: $MM per well) $6.2MM Per well economics using Bellatrix Notikewin/Falher results as an analog 26 Page 26
  • 27. APPENDIX 9 - CHAMBERS/FERRIER ECONOMICS 27 Liquids rich with an opportunity to apply proven technologies used elsewhere in the Deep Basin GROSS ECONOMICS PER WELL (UNRISKED) MULTI-ZONE CARDIUM HORIZONTAL NOTIKEWIN HORIZONTAL Cost per Well $4.1MM $4.7MM $4.8MM Average Reserves 2.7 BCF 140 MSTB 2.4 BCF 100 MSTB 3.2 BCF 127 MSTB Initial Production 1,500 MCF/D 1,500 MCF/D 4,000 MCF/D Value (PV10) $8.8MM $7.8MM $11.0MM Future Wells* 70 14 2 Reserve Potential >185 BCF >9 MMSTB >30 BCF >1.4 MMSTB >6 BCF > 0.25 MMSTB Potential Value $616 MM $109MM $22 MM Sproule September 30, 2012 Price Deck Page 27
  • 28. Page 28 APPENDIX 10 – BOARD & MANAGEMENT Jim O'Byrne, P.Landman – Chairman ▪ 50 years of experience working with companies in the oil and gas sector ▪ President of O'Byrne Resource Management and a director of Berkley Resources ▪ Previously a director of Quintana Exploration, Range Petroleum Corporation Richard Switzer, P.Geol – President & CEO ▪ Over 35 years of experience in the petroleum industry ▪ Currently a director of Petrichor Energy Inc ▪ Previously at Texaco, Amoco, Skelly Oil Canada and Mesa Petroleum working for T. Boone Pickens ▪ Member of the American Association of Petroleum Geologists and a Professional Geologist with APEGGA Richard Barnett, C.G.A. – CFO ▪ Over 20 years of accounting experience serving both public and private corporations ▪ Experience of a wide range of companies, including producing oil & gas, resource & explorations, engineering, and research & development Joe DeVries – Director ▪ 20 years of experience financing public companies ▪ Currently CEO and a director of Petrichor Energy Inc and director of Precision Enterprises Inc Jurgen Wolf – Director ▪ Over 15 years of experience working with companies in the oil and gas sector ▪ Currently a director of the following public companies; Petrichor Energy Inc, Iconic Minerals Ltd, and Transamerican Energy Inc Trevor Hamill, P.Geophysicist – Technical Advisor ▪ Over 35 years of experience in the exploration for oil and gas reserves in the Western Canada Sedimentary Basin (WCSB). ▪ Worked for Calgary based oil companies, including Esso, Alberta Energy Company, and Teck Oil and Gas Stephen Watts , CA B.Ecc- Director ▪ Over 25 years of accounting experience advising companies on corporate finance in a diverse range of industries including; oil and gas, mining and exploration and manufacturing ▪ Currently a director of several large, private companies ▪ Member of the Institute of Chartered Accountants in Australia and a Fellow Member of the Taxation Institute of Australia Bernie Goruk, P.Eng – Technical Advisor ▪ 34 years of experience in petroleum engineering and oil and gas operations ▪ Former property management, team leader at AMOCO, including 20 years of varying experience in oil and gas operations, drilling/completions,exploitations/explorations and administration

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