2. forward-looking statements前瞻性陳述
FORWARD-LOOKING INFORMATION
This presentation included forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements) with respect to
Petrowest, including without limitation, statements regarding its proposed acquisitions, projected costs, business operations and strategy, and financial performance and
condition. These statements generally can be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, or
“continue”, or the negative thereof, or similar variations. Also pro forma financial information in this presentation is forward-looking information.
Although Petrowest’s management believes that the expectations reflected in such forward-looking statements are reasonable and represent Petrowest’s internal projections,
expectations and belief at this time, such statements involve known and unknown risks and uncertainties which may cause the actual performance and results in future
periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements and shouldnot be
read as guarantees of future performance or results. Those risks and uncertainties include, among other things, risk related to: share prices,; liquidity; credit risk and
business concentration; interest rate and other debt related risk; tax risk; ability to access capital markets; competition; environmental matters; changes in legislation and
indebtedness of Petrowest. Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions and information
currently available, which include, management’s current expectations, estimates and assumptions about certain projects and the markets in which Petrowest operates, the
global economic environment, interest rates and Petrowest’s business strategy, plans outlook, projections, targets and operating costs; however, management can give no
other things, general economic and market factors, commodity prices, interest rates, business competition, changes in the government regulations or in tax laws, in addition
to those factors discussed or referenced in the ”Risk Factors” section in Petrowest’s annual information form filed on SEDAR at www.sedar.com.
The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this
presentation are made as of January 1, 2013 and Petrowest does not undertake any obligation to publicly update such forward-looking statements to reflect new information,
subsequent events or otherwise, except as expressly required by applicable securities laws.
NON-IFRS MEASURES
There are a number of non-IFRS measures used in this presentation, including earnings before interest, taxes, depreciation, and amortization (EBITDA), EBITDA Margin,
Gross Margin and Gross Margin Percentage. Petrowest believes that these non-IFRS measures are appropriate measure of the operating performance of the Company. These
and other non-OFRS measures do not have any standardized meaning prescribed by IFRS. The Company’s calculation of these measure may differ from the methodology
used by other issuers and, accordingly, may not be comparable to such other issues. See Petrowest’s most recently filed Management’s Discussion & Analysis of financial
results on SEDAR at www.sedar.com for more information on the Company’s calculation of these non-IFRS measures.
The Company believes that these measures are appropriate measures of the Company’s operating performance because they facilitate an understanding of the Company’s
operating performance without giving effect to certain non-cash expenses. None of these measures is equivalent to net income or cash generated from operating activities
determined in accordance with IFRS.
4. PRW:TSX
what weare公司介紹
• Founded in 2006 through the consolidation of 10 established energy and infrastructure
service companies based in NorthernAlberta通過整合10家亞伯達省北部的能源和基礎設
施公司,於2006年成立。
• May 2007 – Acquired an additional 5 companies, expanding into Northeastern British
Columbia /2007年5月–收購另外五家公司,擴張進入卑詩省東北部。
• Provider of pre-drilling and post-completion services to the northern region of Alberta and
northeastern region of British Columbia為亞伯達省北部地區和卑詩省東北部地區提供鑽
探前和完成後服務。
• On July 2, 2011 – Petrowest Energy Services Trust converted to Petrowest Corporation
(PRW:TSX) /2011年7月2日-Petrowest Energy Services Trust轉變为Petrowest Corporation
(PRW:TSX)。
4
5. Division overview部門概述
5
CONSTRUCTION建設 CIVIL土木 TRANSPORTATION運輸 RENTAL租賃 ENVIRONMENTAL環境
• Oilfield well site
lease
preparation油田
油井現場準備
• Road
construction道
路建設
• Site Servicing現
場服務
• Earth moving土
方
• Reclamation
projects複墾項
目
• Contract rock
and gravel
crushing岩石和
礫石破碎
• Oilfield safety
services, H2S
monitoring油田
安全服務,H2S
監控
- Provides reliable,
quality-driven
safety equipment
to the oilfield
industry為油田提
供可靠、高品質安
全設備
• Equipment
transportation設
備運輸
• Log loading &
hauling木材裝載
和托運
• Gravel hauling礫
石托運
• General
transportation
services一般運輸
服務
• Specializes in heavy
equipment rentals
to oil and gas
companies and
independent
contractors為油氣公
司和獨立承包方提
供重型設備租賃服
務
• Usedin用於:
- Oil and gas
industry油氣行業
- Oil sands油砂
- Mining開採
- Logging錄井
- Civil construction
industries土木建設
• Onsite
acceptance and
handling of
hazardous waste
materials有害廢
物材料的現場驗
收和處理
• Contaminated
waste disposal
facility servicing
the oil and gas
sector有害廢物
處理設施,為油
氣行業提供服務
6. where weare公司介紹
6
• Over 10 Locations in Alberta and British Columbia在亞伯達省和卑詩省有十個運營點
• Strategically and centrally located near oil sands and natural gas activity臨近油砂和天然氣開發活動的中心區域
Fort
Nelson
Fort
Nelson
Fort
St .John
Fort
McMurray
Grande
Prairie
Edmonton
Worsley
Calgary
Peejay
Lloydminster
Fox Creek
7. PRW:TSX
heavy equipment fleet重型設備隊伍
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Type類型
As at Jan 1,
2013截止2013
年1月1日
New
Additions新
添加
1
Rock
Trucks岩石運
輸卡車
93 38
2
Dozers推土
機
132 7
3
Excavators/
Backhoes挖
掘機/鏟土機
91 26
4
Graders平路
機
29 6
5
Scrapers耙礦
機
11 19
Type類型
As at Jan 1,
2013截止2013
年1月1日
New
Additions新
添加
6
SkidSteers滑
移裝載機
28 1
7
Highway
Trucks公路
卡車
114 20
8
Wheel
Loaders輪式
裝載機
43 1
9
Compactors
壓土機
19 7
10
Log Loaders
木材裝載機
14 1
Total Fleet: 700 (includes 126 new additions)總數量:700(包括126輛新增車輛)
New replacement value: One-quarter billion dollars新置價值:一個季度十億加元
10. PRW:TSX
who we are高管介紹
• James H. Coleman – Chairman董事會主席
Mr. Coleman is a Senior Partner of Norton Rose Canada LLP, Barristers and Solicitors, and former Chairman of Macleod Dixon LLP,
as it was prior to joining Norton Rose Canada LLP, and was appointed Queen‘s Counsel in 2006. He has extensive experience in
international law with a focus on the energy and resource sectors in addition to corporate finance, banking and securities. He is a
member of the Law Society of Alberta, the Canadian Bar Association and Rocky Mountain Mineral Law Foundation. He has
authored numerous legal papers on resource law and banking and has chaired various independent committees of public
companies relating to corporate governance and securities matters. / Coleman先生是Norton Rose CanadaLLP的一名高級合夥
人, 加入Norton Rose Canada LLP之前曾担任Macleod DixonLLP的董事會主席,2006年被任命為“御用大律師”,在國際法
方面經驗豐富,尤其是能源和資源行業、公司融資、銀行和證券,還是亞伯達省法律協會、加拿大律師協會和洛磯山礦業
法基金會的會員,已經撰寫多篇有關資源法律和銀行的論文,擔任多家上市公司關於公司治理和證券事務的獨立委員會的
主席。
• Richard (Rick) Quigley - Chief Executive Officer and Director首席執行官兼董事
Mr. Quigley has over 25 years of experience in the oilfield industry working in the drilling and construction industries. Mr.Quigley
built Quigley Contracting from 1990 to 2007 when the company was sold to the Trust. Mr. Quigley was the general manager of the
British Columbia operations of Petrowest from 2007 to October 29, 2010, when he became the President and Chief Executive
Officer of Petrowest. / Quigley有25年油田行業的從業經驗,從事鑽探和建築行業,1990年创建QuigleyContracting運營至
2007年出售,2007年至2010年10月29日曾担任Petrowest的卑詩省運營總經理,之後成為Petrowest的總裁兼首席執行官。
• Roy Larson - Director and Executive Vice President, Construction Division董事兼執行副總裁
Mr. Larson has over 30 years experience in the oilfield construction industry. Mr. Larson is the Executive Vice President of the
Construction Division of Petrowest, which Division conducts business in oilfield well site lease preparation, road construction, earth
moving reclamation and commercial projects business and is operated under Petrowest Construction LP. Mr. Larson built Roy
Larson Construction Ltd. From 1998 until its sale to the Trust in 2006. He has held various positions within the oil and gas industry
in western Canada. / Larson先生有30多年油田建設行業的經驗,現擔任Petrowest的執行副總裁,負責油田油井現場準備、
道路建設、土方複墾和商業項目業務。 Larson於1998年創立了Roy Larson Construction Ltd.,運營至2006年出售,也曾擔任
加拿大西部油氣行業多個不同職位。
10
11. PRW:TSX
who we are高管介紹
• Jim Moffatt - Vice President of Sales & Marketing行銷副總裁
– Mr. Moffatt has over 30 years experience in the oilfield construction industry. Mr. Moffatt is the Vice President of Sales &
Marketing for Petrowest. Mr. Moffatt built Moffatt Construction from 1983 until its sale to the Corporation in 2007. He has
tremendous experience in Western Canada’s oil and gas industry. / Moffatt先生有30多年油田建設行業的經驗,1983年創建了
Moffatt Construction並運營至2007年出售,在加拿大西部的油氣行業從業經驗非常豐富。
• Bernie Reed – Executive VP, Civil Division土木執行副總裁
– Mr Reed has over 40 years experience in the construction and infrastructure industry. He was the founder of R Bee Crushing and
operated throughout Alberta and British Columbia. He is considered one of the leaders in the aggregate industry in improving
productivity and cost effectiveness. / Reed先生有40多年建築和基礎設施行業的從業經驗,創建了R BeeCrushing,在亞伯達
省和卑詩省運營,被認為是骨料行業中提高生產率和成本效益的領導者之一。
• Lloyd Wiggins - Chief Financial Officer首席財務官
– From October 2004 to August 2007, Chief Financial Officer of the general partner of Movie Distribution Income Fund; From
January 2008 to present, Chief Financial Officer of Petrowest. /2004年10月至2007年8月担任Movie Distribution Income Fund的
首席財務官,2008年至今擔任Petrowest的首席財務官。
• Ian Hogg - Vice President of Business Development & Corporate Affairs業務發展和公司事務副總裁
– From 1998 to 2001 he served as President and COO of TGS Properties (TSX) and Destinations Resorts (TSX). From September 2006
to September 2010 he acted as manager corporate affairs for PowerComm Inc. (TSX) and the subsequent PetroCorp Inc. (NEX
board of the TSX Venture Exchange). He has also served as Board Chair of Poplar Point Energy from 2007 to 2011. /1998年至2001
年担任TGS Properties (TSX)和Destinations Resorts (TSX)的總裁兼首席運營官,2006年9月至2010年9月担任PowerComm Inc.
(TSX)的公司事務經理,隨後担任PetroCorp Inc.的公司事務經理,2007年至2011年還曾担任Poplar Point Energy的董事會主
席。
11
12. PRW:TSX
Strengths實力
12
ManagementOwnership
管理層持股
• Management and related parties greater than 40% of the issued and outstanding common shares
管理層和相關方擁有40%以上的已發行股份。
Executive Experience
高管經驗豐富
• The Executive Group represents exceptional operating success as they built many of the
predecessor companies執行團隊有成功的公司運營經驗,因為他們曾創建公司的前身。
Relationships客戶關係
• The Executive Group has long term relationships with the client base執行團隊與客戶群有長期的關
係。
Structure結構
• In 2010, the company completely restructured its ExecutiveGroup /2010年公司完成了其執行團隊的
重組。
• The new structure has successful operators managing all aspects of the day-to-daybusiness新的結
構團隊包含負責公司日常運營業務的運營者。
Large Geographic
Footprint經營區域範圍
廣
• Our bases of operations in Northern Alberta and Northeastern BC enables us to meet the demands
of our clients in the major energy producing areas of WesternCanada我們在亞伯達省北部和卑詩省
東北部運營使得我們能夠滿足加拿大西部主要能源生產區域我們客戶的需求。
Market Leadership市場
領導者
• Petrowest has by far the largest fleet of equipment in the areas in which we operate by a factor of
as much as 4 or5 /在我們運營的區域,按照四至五個指標比較,Petrowest擁有最大的設備隊伍。
20. PRW:TSX
example: one pipeline build
示例:一個管道建設
Length長度: 800km
Compressor Stations壓縮泵站: 7
Water Crossings過水口: 1100
Manual Valves手動閥門:2200
Access Roads: One to each watercrossing
通路:一個過水口一個
Truckloads of Pipe管道的整車量:22,000
Provincial Roads Crossed越過的省際道路: 3
Estimated earthworks budget:???
預計土方預算:???
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21. PRW:TSX
impact to petrowest對petrowest的影響
• Multiple drilling projects over Northeastern British Columbia and Northern
Alberta require significant infrastructure build卑詩省東北部和亞伯達省
北部的多個鑽探項目都需要大量基礎設施建設。
• Building of gas plant sites, pipeline access, and right ofways天然氣廠、管
道通路、道路的建設
• Kitimat LNG estimates there is 424 trillion cubic feetof natural gas, within
the Western Canadian Sedimentary Basin / Kitimat LNG預計在加拿大西
部沉積盆地有424萬億立方英尺天然氣。
• Work history and business relationships have already been established
with the major proponents that make up Canada’s LNG market.已經與加
拿大LNG生產主要的參與者建立了業務關係,有過業務往來。
21
25. PRW:TSX
Economic realities經濟現實
• Petrowest survived the recent economic realities intact, while many competitors were forced to contract or
close. The current competitive landscape shows somewhat less competition, allowing for a return to historic
profit margins / Petrowest成功渡過了最近的經濟形勢,毫髮無損,而許多競爭對手被迫縮減規模或關
閉。當前的競爭版圖顯示競爭激烈程度減弱,令利潤率回到歷史水準。
• Increased need for more efficient and more substantial oilfield and infrastructureservices對於更加高效的油田
和基礎設施服務的需求增加
• Strong positioning and presence in the Horn River, Liard, and Montney gas plays in northeastern BC, leaves
Petrowest extremely well positioned to take advantage of the tremendous activity resulting from the planned
LNG export infrastructure, now underconstruction在卑詩省東北部的HornRiver、Liard和Montney天然氣田介
入程度很深,令Petrowest能夠很好利用計畫的LNG出口基礎設施帶來的巨大商機,現在這些設施正在建
設。
• Petrowest has completed its second financial restructuring in the last three years. In 2013, it replaced its high
interest debt with a fifty million dollar term loan and a thirty million dollar operating line at current market
interest rates/過去三年內Petrowest已經完成了其第二次財務重組。2013年用採用當前利息率的5000萬定
期貸款和3000萬運營信貸替換了高利息率的債務。
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