Bellatrix Exploration Ltd. is a growth oriented oil and gas company operating in Western Canada’s Sedimentary Basin. The Company focuses on operating with integrity and conducting operations in a safe and environmentally responsible manner while providing sustained shareholder growth in value. Our land base is focused in west central Alberta, Canada.
This corporate presentation by Bellatrix Exploration provides an overview of the company's operations and growth strategy. Some key points:
- Bellatrix has seen significant production, reserve, and cash flow growth between 2009-2011, with liquids production up 257% over that period.
- The company forecasts further production and cash flow growth in 2012 and 2013, targeting exit production rates of 19,000-19,500 boe/d in 2012 and 21,500-22,500 boe/d in 2013.
- Bellatrix has a large inventory of low-risk drilling locations focused on its Cardium and Notikewin areas, with over 1,000 net Cardium locations providing decades of drilling potential.
Omnicom reported its annual financial results for 2004. Key highlights include:
- Revenues increased 13% to a record $9.7 billion from $8.6 billion in 2003. Net income grew 15% to $723.5 million.
- All of Omnicom's marketing services disciplines (media, CRM, specialty communications, PR) contributed to revenue growth.
- Omnicom successfully completed its certification under the Sarbanes-Oxley Act, a significant and costly undertaking.
- The company intends to continue investing in its business and people to drive future growth, including potential acquisitions.
This document is from El Paso Corporation's 2007 Annual Meeting of Stockholders. It discusses El Paso's purpose of providing natural gas and energy in a safe, efficient, and dependable manner. It highlights that in 2006 El Paso returned to profitability, reduced debt by $2.8 billion, and was upgraded by credit rating agencies. Going forward, El Paso aims to maintain its financial strength and leverage its pipeline and exploration & production businesses in a favorable macro environment.
The document provides details on three scenarios for the Polemis Cape Project:
1. Conservative scenario is an 8-year plan with 80/20 leverage and 6.5% financing that yields an average 27% return.
2. Opportunistic scenario is a 1-2 year plan with an exit strategy for an IPO in 2008-2009 that could yield average returns of 119-44% depending on the year.
3. Growth scenario involves options to purchase 4 newbuilds which could increase asset values and the company's valuation for an IPO.
This document provides financial projections for a company from FY09A to the terminal year including:
- Revenue is projected to grow from $4.3B in FY09A to $6.2B in the terminal year with domestic, European, and other markets contributing.
- EBITDA and EBIT margins are projected to remain steady around 17-18% and profitability metrics like NOPAT and FCF increase each year.
- Capex as a percentage of revenue is projected to remain at 4% each year to support growth.
- The firm value is estimated at $13.4B based on projections with a WACC of 7.5% and the total value including a financial
This document provides financial results for PPG Industries for the fourth quarter and full year of 2007. Key highlights include record sales and earnings per share for the quarter and year. All of PPG's business segments achieved sales growth in the quarter and year led by double-digit growth in Performance Coatings and Optical & Specialty Materials. The company also discussed cash generation, capital allocation, segment volume growth, and completed and upcoming acquisitions. The presentation concluded with a Q&A invitation.
The document summarizes Petrobras' activities and investments in Bolivia. It discusses Petrobras' role in developing Bolivia's natural gas fields and infrastructure for exporting gas to Brazil. It notes that a new Bolivian law has nationalized Petrobras' refining and other assets in Bolivia. Petrobras will take legal action to protect its interests and suspend new investments in Bolivia in response to the law.
The document summarizes the performance of the Aquamarine Fund from 1997 to 2012. Over this period, the fund outperformed the S&P 500 and other indices, achieving an annualized return of 9.2% compared to 4.7% for the S&P 500. More recent investments since 2008 have also seen strong returns, with some investments appreciating over 150%. The document reviews the fund's portfolio and strategy, and outlines the manager's expectations for continued outperformance of the market indices in the long run. It concludes with a Q&A session to discuss any questions.
This corporate presentation by Bellatrix Exploration provides an overview of the company's operations and growth strategy. Some key points:
- Bellatrix has seen significant production, reserve, and cash flow growth between 2009-2011, with liquids production up 257% over that period.
- The company forecasts further production and cash flow growth in 2012 and 2013, targeting exit production rates of 19,000-19,500 boe/d in 2012 and 21,500-22,500 boe/d in 2013.
- Bellatrix has a large inventory of low-risk drilling locations focused on its Cardium and Notikewin areas, with over 1,000 net Cardium locations providing decades of drilling potential.
Omnicom reported its annual financial results for 2004. Key highlights include:
- Revenues increased 13% to a record $9.7 billion from $8.6 billion in 2003. Net income grew 15% to $723.5 million.
- All of Omnicom's marketing services disciplines (media, CRM, specialty communications, PR) contributed to revenue growth.
- Omnicom successfully completed its certification under the Sarbanes-Oxley Act, a significant and costly undertaking.
- The company intends to continue investing in its business and people to drive future growth, including potential acquisitions.
This document is from El Paso Corporation's 2007 Annual Meeting of Stockholders. It discusses El Paso's purpose of providing natural gas and energy in a safe, efficient, and dependable manner. It highlights that in 2006 El Paso returned to profitability, reduced debt by $2.8 billion, and was upgraded by credit rating agencies. Going forward, El Paso aims to maintain its financial strength and leverage its pipeline and exploration & production businesses in a favorable macro environment.
The document provides details on three scenarios for the Polemis Cape Project:
1. Conservative scenario is an 8-year plan with 80/20 leverage and 6.5% financing that yields an average 27% return.
2. Opportunistic scenario is a 1-2 year plan with an exit strategy for an IPO in 2008-2009 that could yield average returns of 119-44% depending on the year.
3. Growth scenario involves options to purchase 4 newbuilds which could increase asset values and the company's valuation for an IPO.
This document provides financial projections for a company from FY09A to the terminal year including:
- Revenue is projected to grow from $4.3B in FY09A to $6.2B in the terminal year with domestic, European, and other markets contributing.
- EBITDA and EBIT margins are projected to remain steady around 17-18% and profitability metrics like NOPAT and FCF increase each year.
- Capex as a percentage of revenue is projected to remain at 4% each year to support growth.
- The firm value is estimated at $13.4B based on projections with a WACC of 7.5% and the total value including a financial
This document provides financial results for PPG Industries for the fourth quarter and full year of 2007. Key highlights include record sales and earnings per share for the quarter and year. All of PPG's business segments achieved sales growth in the quarter and year led by double-digit growth in Performance Coatings and Optical & Specialty Materials. The company also discussed cash generation, capital allocation, segment volume growth, and completed and upcoming acquisitions. The presentation concluded with a Q&A invitation.
The document summarizes Petrobras' activities and investments in Bolivia. It discusses Petrobras' role in developing Bolivia's natural gas fields and infrastructure for exporting gas to Brazil. It notes that a new Bolivian law has nationalized Petrobras' refining and other assets in Bolivia. Petrobras will take legal action to protect its interests and suspend new investments in Bolivia in response to the law.
The document summarizes the performance of the Aquamarine Fund from 1997 to 2012. Over this period, the fund outperformed the S&P 500 and other indices, achieving an annualized return of 9.2% compared to 4.7% for the S&P 500. More recent investments since 2008 have also seen strong returns, with some investments appreciating over 150%. The document reviews the fund's portfolio and strategy, and outlines the manager's expectations for continued outperformance of the market indices in the long run. It concludes with a Q&A session to discuss any questions.
The Clorox Company reported financial results for the second quarter of fiscal year 2004. Overall sales increased 4% compared to the prior year, excluding divestitures. Laundry Care sales grew 14% due to new product launches and increased promotional support. Home Care sales declined 1% from competitive pressures, partly offset by strong disinfecting wipes sales. Cash from operations was $188 million or 20% of sales, down 6% from the prior year. Capital expenditures totaled $44 million for infrastructure projects, cost savings initiatives, and new products. The company also repurchased $73 million of stock during the quarter.
PA Resources Q1 2012 Presentation 25 April 2012PA Resources AB
PA Resources reported on its first quarter 2012 results. Production averaged 8,700 barrels of oil per day, higher than Q4 2011 due to a full quarter of production from the Aseng field in Equatorial Guinea. Revenue was 650 million SEK, up from 535 million SEK in Q4, driven by higher oil prices and production. EBITDA was 395 million SEK compared to 306 million SEK in Q4. Net debt was reduced by 580 million SEK since the end of 2011 to 3.4 billion SEK. Capex spending remained low as development focused on the Aseng and Alen fields in Equatorial Guinea.
The document summarizes a proposed recapitalization plan by PA Resources to strengthen its balance sheet through a two-step transaction. The plan involves a set-off issue that converts convertible bonds into shares, and a fully underwritten rights issue to raise approximately SEK 700 million. The recapitalization aims to increase PA Resources' ability to develop assets, complete divestments, and repay debt. If approved, the strengthened balance sheet combined with operating cash flow and new debt financing would enable maintenance investments and planned debt amortization in 2013.
Pa resources q4 2011 presentation 15 feb 2012PA Resources AB
PA Resources reported financial and operational results for Q4 2011 and full year 2011. Key highlights included:
- Production of 8,400 bopd in Q4 2011 and 8,600 bopd for full year 2011.
- Significant contributions expected from the new Aseng oil field in Equatorial Guinea, which started production in November 2011.
- Reserves were impacted by downward revisions of the Azurite field in Congo and disposal of two small fields in Tunisia.
- Capex forecast for 2012 is significantly lower at 240-375 MSEK compared to 1,613 MSEK spent in 2011, with a reduced drilling program planned.
PA Resources reported lower production and revenue in Q2 2012 compared to Q1 due to lower oil prices and production. Net debt was reduced to SEK 3.5 billion. Capex remains on forecast at SEK 53 million for 1H 2012. Operations updates provided for Denmark, Tunisia, Congo and Egypt assets. An Azurite sidetrack in Congo is imminent to restore lost production.
This document provides information on property prices and payment plans for apartments in the BPTP Amstoria housing project in Gurgaon. It lists prices for different floor plans ranging from Rs. 70-190 lacs and compares the market price to the discounted price offered by Green Realtech. The payment plans include a construction linked plan with installments at different construction milestones and a down payment plan with a 10% rebate but upfront payment of 80% of the cost. It also provides details on financing options, loan eligibility and EMI calculations for home loans.
The document appears to be notes from an investment meeting that covered the following topics:
- Approval of previous meeting minutes
- Portfolio report from Hans including performance updates and individual stock discussions
- Presentation of new stock opportunities
- Discussion of meeting logistics
The document includes portfolio updates on stocks like Starbucks, Priceline, Novartis, Telenet and Nyrstar. Stop loss levels were discussed for some positions. Overall the document summarizes discussions and updates from an investment club or firm meeting.
Guy Spier presentation for Ciccio Azzollini in Trani: Value Investing Semina...Guy Spier
The document provides financial information about an Italy conference in July 2012 including the market capitalization, book value, and tangible book value of the company. It also contains a chart comparing the performance of the Aquamarine Fund Inc. to the S&P 500 from 1997 to 2012. The final section is seeking investors for a hazardous investment opportunity with volatile returns and uncertain returns but potential for honor and fortune if successful.
Real Estate Development - Financial ModelImran Almaleh
This document provides an overview and financial model for a proposed real estate development project in Dubai. The project involves constructing a mixed-use retail/residential building. Key assumptions in the analysis include net operating income projections and capitalization rates. Special attention should be given to these assumptions as they are important factors in determining the financial feasibility of the project over a 10-year holding period. The model outlines sources and uses of funds, cash flow projections, returns for investors, and other development costs and metrics.
- Sir Thomas Circle Apartments is a 96-unit multifamily property located in Sea Shore, NJ.
- The property consists of two-bedroom, two-bathroom units averaging 925 square feet. Amenities include on-site laundry, patios/balconies, covered parking, and a pool.
- The investment opportunity offers an 8% preferred return and 65% equity participation to investors, with 25% co-investment from the developer.
The document summarizes PA Resources' annual general meeting for 2012. It discusses where the company was in 2010 versus today, with new discoveries in Denmark and recovered investments in Equatorial Guinea. Production is significantly lower with a lower cost structure. The company is focusing on assets in Africa and the North Sea. It provides an operational and financial review for the first quarter of 2012, including updates on fields in the Republic of Congo, Equatorial Guinea, and Tunisia. Drilling plans for 2012-2013 are also summarized.
George Buckley discusses innovation and growth at 3M. Some key points:
1) 3M had strong sales and earnings growth in Q1 2007, with all business posting sales increases.
2) Buckley outlines 3M's strategy of growing its core businesses, making complementary acquisitions, building new businesses, and focusing on international growth.
3) Buckley emphasizes the importance of innovation, efficiency gains, and focusing on customers to drive profitable growth.
PA Resources reported lower production and revenue in Q3 2012 compared to Q2. The company took significant impairment charges and write downs totaling SEK 1.495 billion related to relinquishing a license in the Republic of Congo and revising reserves estimates. The company is proposing a SEK 1.7 billion equity increase to strengthen its financial position and reduce net debt. Going forward, the business plan focuses on developing 30 million barrels of oil equivalents from existing assets at an estimated cost of $9 per barrel.
Gactel Turnkey Projects Limited is an Indian company that provides cooling towers and systems. It has experienced growth but has faced financial losses in recent years due to high expenses outpacing revenue. Expenses as a percentage of revenue have exceeded 100% for the past three years. Borrowing increased dramatically in 2010, contributing to higher interest payments that have exceeded operating profits. The company has high debt relative to assets, indicating weak solvency. To improve its financial position, the company needs to control expenses, borrowing, and interest costs in order to generate positive cash flow.
Get more investment project on the Merar site (http://www.merar.com) We aim to provide the market with quality products that will save the consumer time and money. With the drive to Go Green and save energy, these products will help the consumer achieve their goals.
Mike Weber from PGAV Planners presented on several topics related to TIF planning and closeout. He discussed the differences between property tax and sales tax TIFs, the importance of planning for TIF closeout by developing revenue and obligation projections. He also reviewed the process for distributing any surplus funds at the end of a TIF according to statutory requirements. Key questions around combining property and sales tax TIFs or handling revenue received after TIF termination were also discussed.
Gactel Turnkey Projects Limited is an Indian company that provides cooling towers and systems. It has experienced losses for the past three years due to total revenue being less than total costs. Expenses as a percentage of revenue and raw material expenses as a percentage of sales have increased significantly. The company also struggles with generating positive cash flow regularly and a high debt burden that exceeds assets. To improve performance, the company needs to reduce expenses, control raw material costs and borrowing to reduce interest payments, while pursuing aggressive sales to utilize growth opportunities in the market.
Green Mountain Coffee Roasters started as a small coffee roaster and cafe but has grown significantly since partnering with Keurig in 1998 to manufacture single-cup K-Cup coffee pods. GMCR's business has evolved into a razor/razor blade model where it sells Keurig brewing machines near cost and earns high margins on K-Cup pod sales. Since acquiring Keurig in 2006, GMCR's revenues have grown at a 57% compound annual rate through focus on the fast growing single-cup pod market. However, GMCR now faces questions around its accounting practices and competition in the single-cup coffee brewing market.
Simon Wainwright will present a lecture series on development appraisal and residual valuations. The series will include three lectures: an introduction to development appraisal and residual valuations focusing on cash flow techniques and sensitivity analysis; cash flow techniques and sensitivity analysis; and possession strategy. The lectures will cover terminology, the timeline and process for residual valuations and development appraisals, factors that influence development options, and guidance available for conducting appraisals. Sensitivity analysis will also be discussed to analyze how changes to variables impact project profit.
This document discusses facts about responsible shale development in the United States. It notes that shale development has supported over 1.7 million US jobs and is expected to support 3 million jobs by 2020. It also highlights that shale development has generated billions in tax revenue and infrastructure investments in states like Pennsylvania. The safe and responsible development of shale resources has provided significant economic and energy benefits to both local communities and the national economy.
Sonde Resources Corp. is an oil and gas exploration and production company based in Calgary, Alberta, Canada. Sonde Resources holds a global portfolio of high potential energy assets including producing oil and natural gas assets in Western Canada and offshore exploration property in North Africa.
ZaZa Energy Corporation is both a conventional and unconventional exploration and production company with a world-class portfolio consisting of resource assets in Texas, U.S.A. ZaZa’s singular focus is the continuous, safe, and efficient development of its diverse and expanding oil and gas resource portfolio. ZaZa is committed to generating superior shareholder returns by leveraging its industry leading technical expertise to continuously streamline its operations, maximize production and reduce operating costs.
The Clorox Company reported financial results for the second quarter of fiscal year 2004. Overall sales increased 4% compared to the prior year, excluding divestitures. Laundry Care sales grew 14% due to new product launches and increased promotional support. Home Care sales declined 1% from competitive pressures, partly offset by strong disinfecting wipes sales. Cash from operations was $188 million or 20% of sales, down 6% from the prior year. Capital expenditures totaled $44 million for infrastructure projects, cost savings initiatives, and new products. The company also repurchased $73 million of stock during the quarter.
PA Resources Q1 2012 Presentation 25 April 2012PA Resources AB
PA Resources reported on its first quarter 2012 results. Production averaged 8,700 barrels of oil per day, higher than Q4 2011 due to a full quarter of production from the Aseng field in Equatorial Guinea. Revenue was 650 million SEK, up from 535 million SEK in Q4, driven by higher oil prices and production. EBITDA was 395 million SEK compared to 306 million SEK in Q4. Net debt was reduced by 580 million SEK since the end of 2011 to 3.4 billion SEK. Capex spending remained low as development focused on the Aseng and Alen fields in Equatorial Guinea.
The document summarizes a proposed recapitalization plan by PA Resources to strengthen its balance sheet through a two-step transaction. The plan involves a set-off issue that converts convertible bonds into shares, and a fully underwritten rights issue to raise approximately SEK 700 million. The recapitalization aims to increase PA Resources' ability to develop assets, complete divestments, and repay debt. If approved, the strengthened balance sheet combined with operating cash flow and new debt financing would enable maintenance investments and planned debt amortization in 2013.
Pa resources q4 2011 presentation 15 feb 2012PA Resources AB
PA Resources reported financial and operational results for Q4 2011 and full year 2011. Key highlights included:
- Production of 8,400 bopd in Q4 2011 and 8,600 bopd for full year 2011.
- Significant contributions expected from the new Aseng oil field in Equatorial Guinea, which started production in November 2011.
- Reserves were impacted by downward revisions of the Azurite field in Congo and disposal of two small fields in Tunisia.
- Capex forecast for 2012 is significantly lower at 240-375 MSEK compared to 1,613 MSEK spent in 2011, with a reduced drilling program planned.
PA Resources reported lower production and revenue in Q2 2012 compared to Q1 due to lower oil prices and production. Net debt was reduced to SEK 3.5 billion. Capex remains on forecast at SEK 53 million for 1H 2012. Operations updates provided for Denmark, Tunisia, Congo and Egypt assets. An Azurite sidetrack in Congo is imminent to restore lost production.
This document provides information on property prices and payment plans for apartments in the BPTP Amstoria housing project in Gurgaon. It lists prices for different floor plans ranging from Rs. 70-190 lacs and compares the market price to the discounted price offered by Green Realtech. The payment plans include a construction linked plan with installments at different construction milestones and a down payment plan with a 10% rebate but upfront payment of 80% of the cost. It also provides details on financing options, loan eligibility and EMI calculations for home loans.
The document appears to be notes from an investment meeting that covered the following topics:
- Approval of previous meeting minutes
- Portfolio report from Hans including performance updates and individual stock discussions
- Presentation of new stock opportunities
- Discussion of meeting logistics
The document includes portfolio updates on stocks like Starbucks, Priceline, Novartis, Telenet and Nyrstar. Stop loss levels were discussed for some positions. Overall the document summarizes discussions and updates from an investment club or firm meeting.
Guy Spier presentation for Ciccio Azzollini in Trani: Value Investing Semina...Guy Spier
The document provides financial information about an Italy conference in July 2012 including the market capitalization, book value, and tangible book value of the company. It also contains a chart comparing the performance of the Aquamarine Fund Inc. to the S&P 500 from 1997 to 2012. The final section is seeking investors for a hazardous investment opportunity with volatile returns and uncertain returns but potential for honor and fortune if successful.
Real Estate Development - Financial ModelImran Almaleh
This document provides an overview and financial model for a proposed real estate development project in Dubai. The project involves constructing a mixed-use retail/residential building. Key assumptions in the analysis include net operating income projections and capitalization rates. Special attention should be given to these assumptions as they are important factors in determining the financial feasibility of the project over a 10-year holding period. The model outlines sources and uses of funds, cash flow projections, returns for investors, and other development costs and metrics.
- Sir Thomas Circle Apartments is a 96-unit multifamily property located in Sea Shore, NJ.
- The property consists of two-bedroom, two-bathroom units averaging 925 square feet. Amenities include on-site laundry, patios/balconies, covered parking, and a pool.
- The investment opportunity offers an 8% preferred return and 65% equity participation to investors, with 25% co-investment from the developer.
The document summarizes PA Resources' annual general meeting for 2012. It discusses where the company was in 2010 versus today, with new discoveries in Denmark and recovered investments in Equatorial Guinea. Production is significantly lower with a lower cost structure. The company is focusing on assets in Africa and the North Sea. It provides an operational and financial review for the first quarter of 2012, including updates on fields in the Republic of Congo, Equatorial Guinea, and Tunisia. Drilling plans for 2012-2013 are also summarized.
George Buckley discusses innovation and growth at 3M. Some key points:
1) 3M had strong sales and earnings growth in Q1 2007, with all business posting sales increases.
2) Buckley outlines 3M's strategy of growing its core businesses, making complementary acquisitions, building new businesses, and focusing on international growth.
3) Buckley emphasizes the importance of innovation, efficiency gains, and focusing on customers to drive profitable growth.
PA Resources reported lower production and revenue in Q3 2012 compared to Q2. The company took significant impairment charges and write downs totaling SEK 1.495 billion related to relinquishing a license in the Republic of Congo and revising reserves estimates. The company is proposing a SEK 1.7 billion equity increase to strengthen its financial position and reduce net debt. Going forward, the business plan focuses on developing 30 million barrels of oil equivalents from existing assets at an estimated cost of $9 per barrel.
Gactel Turnkey Projects Limited is an Indian company that provides cooling towers and systems. It has experienced growth but has faced financial losses in recent years due to high expenses outpacing revenue. Expenses as a percentage of revenue have exceeded 100% for the past three years. Borrowing increased dramatically in 2010, contributing to higher interest payments that have exceeded operating profits. The company has high debt relative to assets, indicating weak solvency. To improve its financial position, the company needs to control expenses, borrowing, and interest costs in order to generate positive cash flow.
Get more investment project on the Merar site (http://www.merar.com) We aim to provide the market with quality products that will save the consumer time and money. With the drive to Go Green and save energy, these products will help the consumer achieve their goals.
Mike Weber from PGAV Planners presented on several topics related to TIF planning and closeout. He discussed the differences between property tax and sales tax TIFs, the importance of planning for TIF closeout by developing revenue and obligation projections. He also reviewed the process for distributing any surplus funds at the end of a TIF according to statutory requirements. Key questions around combining property and sales tax TIFs or handling revenue received after TIF termination were also discussed.
Gactel Turnkey Projects Limited is an Indian company that provides cooling towers and systems. It has experienced losses for the past three years due to total revenue being less than total costs. Expenses as a percentage of revenue and raw material expenses as a percentage of sales have increased significantly. The company also struggles with generating positive cash flow regularly and a high debt burden that exceeds assets. To improve performance, the company needs to reduce expenses, control raw material costs and borrowing to reduce interest payments, while pursuing aggressive sales to utilize growth opportunities in the market.
Green Mountain Coffee Roasters started as a small coffee roaster and cafe but has grown significantly since partnering with Keurig in 1998 to manufacture single-cup K-Cup coffee pods. GMCR's business has evolved into a razor/razor blade model where it sells Keurig brewing machines near cost and earns high margins on K-Cup pod sales. Since acquiring Keurig in 2006, GMCR's revenues have grown at a 57% compound annual rate through focus on the fast growing single-cup pod market. However, GMCR now faces questions around its accounting practices and competition in the single-cup coffee brewing market.
Simon Wainwright will present a lecture series on development appraisal and residual valuations. The series will include three lectures: an introduction to development appraisal and residual valuations focusing on cash flow techniques and sensitivity analysis; cash flow techniques and sensitivity analysis; and possession strategy. The lectures will cover terminology, the timeline and process for residual valuations and development appraisals, factors that influence development options, and guidance available for conducting appraisals. Sensitivity analysis will also be discussed to analyze how changes to variables impact project profit.
This document discusses facts about responsible shale development in the United States. It notes that shale development has supported over 1.7 million US jobs and is expected to support 3 million jobs by 2020. It also highlights that shale development has generated billions in tax revenue and infrastructure investments in states like Pennsylvania. The safe and responsible development of shale resources has provided significant economic and energy benefits to both local communities and the national economy.
Sonde Resources Corp. is an oil and gas exploration and production company based in Calgary, Alberta, Canada. Sonde Resources holds a global portfolio of high potential energy assets including producing oil and natural gas assets in Western Canada and offshore exploration property in North Africa.
ZaZa Energy Corporation is both a conventional and unconventional exploration and production company with a world-class portfolio consisting of resource assets in Texas, U.S.A. ZaZa’s singular focus is the continuous, safe, and efficient development of its diverse and expanding oil and gas resource portfolio. ZaZa is committed to generating superior shareholder returns by leveraging its industry leading technical expertise to continuously streamline its operations, maximize production and reduce operating costs.
The Aemetis Biorefinery produces advanced renewable fuels and chemicals by converting existing biofuels facilities. It owns and operates 115 million gallon per year renewable fuels and chemicals plants in the US and India. Aemetis has patented technology to upgrade facilities to produce advanced biofuels from non-food feedstocks at lower costs than traditional fuels. This allows it to generate strong positive cash flow while significantly reducing carbon emissions.
Despite being the fastest growing market for Natural Gas in Europe and one of its smallest producers, Italy has huge potential for natural gas companies.
BRS Resources along with our partners are exploring areas of Northern Italy for proven Natural Gas reserves as a result of much of the data in this infographic - Natural Gas in Italy.
ECA Marcellus Trust is a publicly traded royalty trust will help privately held
Energy Corporation of America develop its Marcellus
assets without giving up operational control.
BRS Resources is an international energy company actively pursuing opportunities in the Mediterranean Basin, with its primary focus in Italy.
Strong team with E&P and project management skills.
BRS’s first entry into the European market through AleAnna Resources LLC and their joint Italian properties.
BRS Resources: <a>http://brsresources.com</a>
IR Smartt Inc: http://irsmartt.com
Northern is undergoing significant change
There is material inherent value embedded in the Company’s assets
First of three key short term objectives delivered by the sale of the Netherlands
Two more near term targets set to demonstrate value and drive share price growth
– advance the Italian Southern Adriatic portfolio
– test the oil redevelopment play in Alberta, Canada
Appointment of new chairman strengthens the Company, bringing the right type of
skills and experience as well as improving Corporate Governance
Completion of the near term targets will provide a platform from which management can plan the longer term strategy of the business
Petro River Oil Corp. (the “Company”) consummated a number of related transactions through which it acquired control of Petro River Oil, LLC (“Petro”) and Petro’s wholly-owned subsidiary Petro River Operating, LLC. Petro is an emerging oil and gas producer with producing wells in the Southeast Kansas region of the Mississippi Lime.
Constellation Energy Partners LLC reported financial and operational results for the fourth quarter and full year of 2013. Key highlights included:
- Oil accounted for 51% of sales revenue in 2013, with average daily oil production up 84% year-over-year.
- Operating costs were $24.69 per BOE for 2013, down 4% from 2012.
- Capital spending of $15.7 million in 2013 resulted in 79 net wells and recompletions.
- The company forecast $20-22 million in capital spending and 1,346-1,552 MBOE of production for 2014, with adjusted EBITDA of $26.7-29.9 million.
BRS Resources provides an operational update on its subsidiary AleAnna Resources. AleAnna has completed 3D seismic surveys covering over 87,000 acres in Italy identifying numerous drillable prospects. AleAnna exhibited five such prospects to partners with favorable responses and is now in discussions with interested companies. AleAnna also plans to file two drilling permits and remains in discussions to participate in other Italian operators' upcoming wells in the second and third quarters of 2013. Additionally, BRS announces the resignation of a director.
BRS Resources announcea that Po Valley Energy completed well testing of its Gradizza-1 discovery well. On November 20, the well tested natural gas at a stabilized rate of 696,000 cubic feet per day with 492 psi flowing tubing pressure on a ¼-inch choke.
AleAnna Resources, an Italian exploration company in which BRS Resources holds an interest, has identified four drillable natural gas prospects within 3 miles of an existing discovery well. AleAnna has submitted a permit application to drill one of these prospects in the next 12 months. The existing well encountered gas and provides data to accurately target similar formations in AleAnna's prospects. All of AleAnna's prospects have been surveyed with 3D seismic technology and are located near existing producing gas fields.
1. FX Energy is an oil and gas company focused on exploration and production in Poland.
2. They currently produce around 14 million cubic feet of gas equivalent per day from 7 wells in Poland.
3. FX Energy plans to spend $55 million on capital expenditures in Poland in 2014 to drill 6-8 new wells to grow production and reserves.
2013 Results, Achievement of our 135 mmcfe/d Phase VI target ahead of schedule and Acceleration of our Phase VII Glacier drilling program sets a solid foundation for multi-year growth.
IntelGenx March 13, 2017 Investor PresentationItelGenx
This presentation provides an overview of IntelGenx Corp., a drug delivery company focused on oral thin film technologies. Key points include:
- IntelGenx has a pipeline of product candidates using its VersaFilm drug delivery technology, including products for migraines, erectile dysfunction, schizophrenia, and repurposing drugs for brain diseases.
- The company has completed construction of a new manufacturing facility to produce oral thin films and lower costs.
- Management believes IntelGenx is well positioned for growth due to its drug delivery expertise, business model focusing on drug repurposing and first-to-file generics, and competitive manufacturing capabilities.
The document provides an overview of Equatorial, a Brazilian energy company with segments in distribution, generation, and trading. It discusses the company profile, financial performance, portfolio, and value creation. Equatorial's main distribution assets are CEMAR in Maranhão and CELPA in Pará, which the document compares on metrics like energy sold, revenues, losses, and investments showing improvements at CEMAR following its turnaround. The summary highlights Equatorial's operations and the turnaround efforts at its CEMAR distribution segment.
Fourth quarter production of 15.1 mmboe - 15% higher than the corresponding quarter - brought full-year production to 54.1 mmboe. This was a 6 per cent increase on the previous year and within the company’s guidance range of 53-55 mmboe.
“Notwithstanding the fall in oil prices, Santos has delivered growth in full-year and quarterly production, and record sales revenue,” Santos Managing Director and Chief Executive Officer David Knox said.
“These results affirm the strength of Santos’ underlying business, the transformation of our operations and the positioning of the company as a major player in the Asian LNG market.”
“We look forward to further growth in 2015 with the start-up of GLNG in the second half of this year.”
Oil & Money 2015
Chair: Bob Maguire - Managing Director The Carlyle Group
Panel: Poppy Allonby - Managing Director, Natural Resources BlackRock Investment Management
Michael Hafner - Head of Oil & Gas Investment Banking, EMEA UBS
Alastair Maxwell - Co-Head of Global Energy Goldman Sachs
Christof Rühl - Global Head of Research Abu Dhabi Investment Authority
Citi 2014 Global Energy and Utilities Conference - Cabot PresentationMarcellus Drilling News
The Cabot Oil & Gas PowerPoint presentation used during Cabot's address to the delegates at the Citi 2014 Global Energy and Utilities Conference in Boston, MA on May 14-15, 2014. The presentation has a number of interesting, inside bits of information useful to those who track the happenings in the Marcellus Shale.
The document provides an overview of Equatorial Energia, a Brazilian electricity distribution and generation company. It discusses the company's distribution and generation segments, including its ownership of CEMAR and a majority stake in CELPA. Charts show key financial metrics like revenue, EBITDA, and investments for CEMAR and CELPA from 2004-2013. The document also reviews the turnaround efforts at CEMAR to reduce energy losses and improve operational and financial performance.
Company website presentation (a) november 2014(2)AnteroResources
This document provides an overview of Antero Resources Corporation. It states that Antero has significant reserves and acreage in the Marcellus and Utica Shales, with plans for continued production and liquids growth. Antero aims to be the lowest cost producer through capital efficiency and industry-leading well economics. It has secured substantial firm transportation and processing commitments to access favorable gas markets.
Michael Bowen Oil and Gas consultancy give a review with respect to oil and gas penetrating investments.Oil and gas offerings, nevertheless, can be particularly risky.
Understand the relationship between:
(1)Cost of investment
(2)Expected return
(3)Risk assessment
Company website presentation (a) november 2014AnteroResources
This document provides an overview of Antero Resources Corporation. It discusses Antero's position as a pure play company focused on the Marcellus and Utica Shales, with over 37 Tcfe of reserves across the regions. Antero plans significant growth through its 22-rig drilling program across the plays. The company has leading capital efficiency and strong liquidity and hedge positions to support its high growth strategy. Antero is building substantial firm processing and takeaway capacity by 2018 to access favorable gas markets.
Noble Energy is positioned for strong growth over the next five years from its portfolio of assets. Production is expected to more than double by 2017 through development of its core areas including the DJ Basin, Marcellus Shale, and offshore projects. Noble will invest $3.9 billion in 2013 to accelerate unconventional programs and complete major projects. This high level of investment is expected to deliver double-digit production and cash flow growth through 2017 and position the company for strong performance over the next decade.
Newest Investor Presentation from Magnum Hunter Resources, Issued Oct 2014Marcellus Drilling News
Information about the Marcellus/Utica begins on page 17 of the PDF (slide is numbered 16). On page 25 (slide #24) we have an updated table of the largest acreage holders in the Utica. The very next page is fascinating: a list of transactions--drillers that purchased large tracts of acreage from other drillers in the Utica--and what they paid for it on a per acre basis. Be sure to take a look at that slide. Finally, a little bit of crowing about drilling the Utica's most productive well to date, the Stewart-Winland Utica Shale well (in WV!) on page 30 (slide #29).
- Antero Resources is a pure play company focused on developing natural gas and oil resources in the Marcellus and Utica Shales.
- As of June 2014, Antero had over 9 trillion cubic feet of proved reserves and 37.5 trillion cubic feet of potential reserves across its acreage, with production of over 1 billion cubic feet per day.
- Antero has significant growth plans through 2022 involving increasing production, reserves, and secured transportation and processing for its natural gas and natural gas liquids.
Duratex reported financial results for the first quarter of 2007 with increases in key metrics such as net revenues, EBITDA, and net income compared to the first quarter of 2006. Net revenues totaled R$356.5 million, an 8% increase, while EBITDA reached R$120.6 million for a 34% margin. Duratex also announced planned capital expenditures of R$850 million between 2007 and 2009 for expanding production capacity across its wood and tile divisions.
The document provides an overview of Equatorial Energia, a Brazilian electricity distribution and generation company. It discusses the company's distribution and generation segments, including details on its subsidiaries CEMAR and CELPA. It then reviews the company's financial performance from 2004-2013, highlighting improvements in EBITDA, investments, and debt levels. Charts are presented comparing operating and financial metrics for CEMAR and CELPA from 2004-2013. The document also summarizes CEMAR's turnaround, outlining initiatives to improve operations, management, and financial results.
WHY REFRAC ORGANIC SHALE WELLS: EAGLE FORD AND HAYNESVILLE CASE STUDIESiQHub
This document discusses refracking organic shale wells in the Eagle Ford and Haynesville formations. It analyzes the production and economics of 58 refracked Eagle Ford wells and 31 refracked Haynesville wells based on public production data. Refracks can significantly increase well economics, with mechnical isolation refracks in the Eagle Ford returning over $5 million NPV on average and bullhead refracks returning over $2.5 million NPV. Refracks provide attractive economics compared to drilling new wells given current supply chain constraints. Primary well production is also protected by refracking offset wells to maintain reservoir pressure and avoid losses from asymmetric fracturing between wells.
The revival and transformation of Europe’s largest onshore oilfield; the Pato...Albania Energy Association
Presentation: The revival and transformation of Europe’s largest onshore oilfield; the Patos-Marinza field
Leonidha Çobo, General Manager, Bankers Petroleum Albania Ltd
Cabot oil and gas jp morgan presentation - june 2016Steve Wittrig
Cabot Oil & Gas provides an overview of its operations and financial results. In 2015, Cabot produced 602.5 Bcfe, an increase of 13% over 2014, and had year-end proved reserves of 8.2 Tcfe, an increase of 11%. For 2016, Cabot expects production growth of 2-7% while significantly reducing its capital budget to $325 million, down 58% from 2015. Cabot has a large inventory of low-risk drilling opportunities in the Marcellus and Eagle Ford shales and a conservative financial position with low leverage.
EEB is a leading energy company in Colombia and other Latin American countries. It operates across various areas of the energy sector including electricity transmission and distribution, natural gas transportation and distribution, and electricity generation. EEB has a strong presence in Colombia, Peru, Guatemala and other markets through various subsidiaries. It has ambitious investment plans for the 2013-2017 period to expand its electricity and gas infrastructure. EEB has consistently delivered stable financial results with growing revenues and earnings. It also provides attractive dividends to shareholders.
Sonoro Gold - The mineral wealth report by anthony garson and associatesMomentumPR
This document provides an analysis of Sonoro Gold Corp. and its Cerro Caliche gold and silver heap leach project in Mexico. Key points include:
- The project is estimated to have 419,154 ounces of contained gold and 3.6 million ounces of contained silver over a 5.5 year mine life at 15,000 metric tons per day, with an after-tax NPV of $85.1 million Canadian dollars.
- Recent drilling is aimed at upgrading inferred resources to indicated and expanding known zones. A preliminary economic assessment report is expected in August 2021.
- The report provides production estimates, operating costs, cash flow projections, and valuation metrics including a net asset value per share of
Today, Eni’s Board of Directors approved the Group results for the first quarter of 2019 (unaudited). Commenting on the results, Claudio Descalzi, CEO of Eni, remarked:
“I am very pleased of the excellent industrial and financial performance delivered by Eni in IQ 2019. Particularly, in light of a substantially unchanged market scenario, the E&P business has improved its operating profit by 25% compared to the first quarter of 2018, confirming our expectations of the business growing cash generation for the full year. The results of the G&P segment also improved; the 16% increase in operating profit to €372 million puts us on the path to achieving our €500 million profit target for the full year. The performance of the Downstream R&M and Chemicals business offset the effect of weaker margins and we expect to see a broad recovery over the next nine months, particularly in oil Refining and Marketing. Overall, first quarter operations generated a cash flow of €3.42 billion, up 8% and €1.5 billion greater than the investments for the period of around €1.9 billion, which is in line with the expectations of €8 billion for the whole year. The Group confirms that it can leverage on the quality and robustness of its asset portfolio, capable of covering costs, investments and dividends at a Brent price of US$ 55, in addition to generating a cash surplus in the event of higher prices, as in current trading conditions.”
ARC Resources - November 2012 Investor PresentationARC Resources
This document provides an overview of ARC Resources, an energy company, including:
1) ARC produced over 92,000 barrels of oil equivalent per day in 2012, consisting of 36,000 barrels per day of liquids and 341 million cubic feet per day of natural gas.
2) ARC has over 572 million barrels of oil equivalent of reserves with an estimated reserve life of 17 years based on 2012 production levels.
3) ARC has focused on growing its oil and liquids production, which comprised 40% of third quarter 2012 production and contributed 78% of revenue over that period.
Similar to Bellatrix Exploration - Investor Presentation 2014 (20)
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
2. 2 Bellatrix Corporate Presentation
Bellatrix
Drill bit driven growth
oriented company
Focus on profit
not product
Low cost finder
and operator
Strong balance
sheet
Employ modern
technology coupled
with innovation
Targeted
Accretive
Acquisitions
BELLATRIX STRATEGY
3. 3 Bellatrix Corporate Presentation
CORPORATE SNAPSHOT
Liquidity (past 3 months) +/- 1.7 mm shares/d
Annual Average Production guidance (2014e) 42,500 – 43,500 boe/d
Exit rate guidance (2014e) +/- 47,000 boe/d
Oil / liquids weighting (2014e) +/- 37 %
Capital structure
Common shares – basic +/- 171 mm
Common shares – diluted +/- 182 mm
Insider ownership (fully diluted) 10%
Approximate Combined Tax pools $1,228 mm
4. 4 Bellatrix Corporate Presentation
TRACK RECORD OF PRODUCTION GROWTH
AVERAGE ANNUAL PRODUCTION INCREASE
ProductionpermmShares
25%
30%
38%
33%
30%
6,572
8,519
11,954
16,686
21,830
43,000
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
50000
Q4 2009 2010 2011 2012 2013e 2014e
Average Production (boe/d)
+/-
554%
9. 9 Bellatrix Corporate Presentation
INDUSTRY LEADING OPERATIONS METRICS
December 31, 2013 (P&P) FD&A costs
(including FDC) $9.67/boe
Reserve life index (P&P)
(as at December 31, 2013) 13.7 years
December 31, 2013 Recycle ratio
(excluding FDC and Acquisitions, P&P) 2.90x
December 31, 2013 Recycle ratio
(excluding FDC, proved) 1.88x
10. 10 Bellatrix Corporate Presentation
TOTAL RETURN COMPARISON
$0
$100
$200
$300
$400
$500
$600
$700
$800
31-Dec-08 31-Dec-09 31-Dec-10 31-Dec-11 31-Dec-12 31-Dec-13
Bellatrix Exploration Ltd.
S&P/TSX Energy Index
S&P/TSX Composite Index
Data provided by National Bank Financial Markets
Valueofa$100Investment
12. 12 Bellatrix Corporate Presentation
GROWING BELLATRIX
68%
27%
5%
2014 ESTIMATED NET BXE CAPITAL BUDGET (+/- $370 MM)
(+/- $610 Million Gross including JV Partner Capital)
Drilling and Completions
Facilities
Land and Seismic
13. 13 Bellatrix Corporate Presentation
COMMODITY RISK MANAGEMENT
Jan. 1 – Dec. 31, 2014 6,000 bbls/d $97.07 CDN/bbl
Feb. 1 – Dec. 31, 2014 95.7 mmcfd $4.21 CDN/mcf
Oil
Gas*
o * Assumes conversion of a $/GJ to $/mcf is based on an average corporate heat
content of 40.8 Mj/m3
14. 14 Bellatrix Corporate Presentation
FORMULA FOR GROWTH
o Inventory of low risk development locations
− 2,000 net locations
o Extensive undeveloped
land base of 416,631 net acres
o Stacked Hydrocarbon Bearing Reservoirs in WCA:
Belly River +/- 1,300 m
Cardium +/- 2,100 m
Second White Specs +/- 2,200 m
Viking +/- 2,300 m
Notikewin +/- 2,400 m
Falher +/- 2,500 m
Lower Mannville +/- 2,550 m
Rock Creek +/- 2,600 m
Duvernay +/- 3,400 m
15. 15 Bellatrix Corporate Presentation
BALANCED RESOURCE PLAY INVENTORY
Net Remaining
Inventory
Cost per well ($ mm) Net Remaining
Investment ($mm)
Belly River (HZ) 23 $2.5 58
Second White Specks (Vrt) 200 $0.25 50
Cardium (HZ) 742 $3.6 2,671
Viking (HZ) 80 $4.2 338
Notikewin/Falher (HZ) 381 $4.6 1,753
Mannville (HZ) 128 $4.2 538
Rock Creek (HZ) 31 $4.6 143
Duvernay (HZ) 415 $11.0 4,565
2,000 $10,116
Based upon internal estimates
16. 16 Bellatrix Corporate Presentation
CARDIUM LIGHT OIL RESOURCE PLAY
o Largest accumulation of light oil in
the WCSB
o Approximately 20,000
square miles
o Approximately 1.8 Billion bbls
produced to date
o Currently producing
155,000 bbl/d & 1.31 bcf/d
o LOE < $8.00/boe
o BXE Drilling Inventory
• 1,190 Gross
• 742 Net
o Planned wells for 2014
• 115 Gross
• 66 Net
o BXE Cardium Sections
• 453 Gross
• 338 Net
Edson
Pembina
Ferrier
Strachan
Harmattan
20. 20 Bellatrix Corporate Presentation
CARDIUM OIL TYPE CURVE
HORIZONTAL CARDIUM OIL WELL PRODUCTION
0
10
20
30
40
50
60
70
80
90
100
0
100
200
300
400
500
600
700
800
0 10 20 30 40 50
ContributingWells
WeeklyAverageProduction(boed)
Producing Weeks
Cardium Weekly Production Well Count
Estimated6-10% decline
2013 Type Curve
2012 Type Curve (Basedon 54 Wells)
Incremental 31mboe overprevioustype curve.
Cardium Type Economics
Drill,Case,Complete & Tie-In $3.6M
NPVBT @ 10% $6.1M
Rate of Return 159%
Payout 0.8 yr
Economics based upon $90 CDN/bbl and $3.00 CDN/mmBTU gas
21. 21 Bellatrix Corporate Presentation
CARDIUM TYPE CURVES
Internal estimates based upon January 1, 2013 Sproule Evaluation and GLJ Evaluations
Economics based upon 2013 $90 CDN/bbl and $3.00 CDN/mmBTU gas
0
100
200
300
400
500
600
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
CumulativeProduction,mboe
Ferrier Cardium, 30% Liquids Cardium High GOR, 65% liquids
Cardium Low GOR, 77% liquids Southern Cardium, 92% liquids
22. 22 Bellatrix Corporate Presentation
NOTIKEWIN/FALHER LIQUIDS RICH GAS
o BXE Land Sections
• 181 Gross
• 91 Net
o BXE Drilling Inventory
• 750 Gross
• 381 Net
o Regional Stacked Mannville Channels
deposited in broad valleys
o 64 BXE and industry Notikewin/Falher
gas wells average IP 9.6 Mmcfe/d
o Planned wells for 2014
• 31 Gross
• 11 Net
o 2 mile Hz produced2.1 Bcf gas with
liquids in first 120 days
o 14 out of 15 best gas wells in Spirit
River, Alberta in 2013
23. 23 Bellatrix Corporate Presentation
NOTIKEWIN/FALHER LIQUIDS RICH GAS
NEW FRAC TECHNIQUE
7.5 Bcf Performance Curve:
NPV 10% BIT = $15.4 MM
IRR = >500%
Payout = 0.4 Years
5 Bcf Performance Curve
LOE < $0.60/mcfe F&D (2P) $0.58/mcfe
NPV 10% BIT = $11.4 MM
IRR = 216%
Payout = 0.6 years
@ 2013 $3.00/mmBTU gas ($3.44/mcf based on
corporate heat content) & $90 CDN/bbl C5+ 0
2000
4000
6000
8000
10000
12000
0 2 4 6 8 10 12 14 16 18 20 22 24
MonthlyAverageGasProduction(mcf/d)
Producing Months
24. 24 Bellatrix Corporate Presentation
LOWER MANNVILLE LIQUIDS RICH GAS
o Stacked play potential
o BXE Drilling Inventory
• 110 Gross
• 100 Net
o BXE Land Sections
• 311 Gross
• 287 Net
o Liquids-rich gas plays;
approximately 200
bbls/mmcf
o 31 horizontal Ellerslie
wells drilled
o Ellerslie HZ oil
discovery at Davey
Lake; 300 boed IP30
Schematic Log
GR Porosity
25. 25 Bellatrix Corporate Presentation
DUVERNAY UNCONVENTIONAL RESOURCE
o BXE Land Sections
• 122 Gross
• 120 Net
o BXE Inventory
• 415 – 600+ locations
o Potential BXE resource: over 10 Tcf
OGIP
o Estimated 4 to 6 BCFE recoverable per
well
o BXE 09-24 HZ highest recorded IP3 at
3.7 mmcf/d; 0.75 Bcf cum to date
o +75 Duvernay wells licensed in Greater
Ferrier and Edson
o 5 wells currently on production
o Reported offset NGL yields of 70-150
Bbls/mmcf
o Highly over-pressured at 15.8 kPa/m
26. 26 Bellatrix Corporate Presentation
BXE FERRIER INFRASTRUCTURE
Access to 9 plants
o Total capacity 1,162
mmcf/d
Planned BXE Gas plant
o 110 mmcf/d capacity
o C3+ Recovery99%
o C4+ Recovery100%
o In service July 1, 2015
o Cost+/- $90 MM
27. 27 Bellatrix Corporate Presentation
GRAFTON JV
$244 MM Initial Joint Venture June 21, 2013
with $61 MM Extension Election April 9, 2014
o 58 Net Notikewin/Falher and Cardium
o horizontal wells in initial program
o 13 Net Mannville wells in extension
o BXE contribution - $55 MM
o Grafton contribution - $250 MM
o Effective July 1, 2013 – June 21, 2016
JV Partner earning terms:
o Pay 82% to earn 54% BPO
o Reversion to 33% APO on payout
o Payout: $250MM @ 8% IRR
o One time election to convert 33% WI to 17.5%
GORR
28. 28 Bellatrix Corporate Presentation
TROIKA JV
$240 MM Joint Venture
o 63 Gross Cardium horizontal wells
o BXE contribution - $120 MM
o Effective January 1, 2013 – December 31,
2014.
o 20 additional Cardium wells planned in
2013; 43 Cardium Hz wells in 2014
JV Partner earning terms:
o Pay 50% to earn 35% BPO
o Reverting to 25% APO
o Payout: $ 120 MM + 15% IRR
29. 29 Bellatrix Corporate Presentation
PROVIDING PER SHARE VALUE TO INVESTORS THROUGH
DRILLING, DEVELOPMENT AND TARGETED ACQUISITION
SUMMARY
o Knowledgeable management team with a long history and proven track record of
growing companies through the drill bit
o Prudent business management focused on per share growth, hedging and debt
maintenance
o Top tier asset base with a significant high IRR inventory of drill ready locations ($10.1
billion)
o Low cost operator, low cost finder
o Near term growth catalysts with forecast 2014 exit rate of +/- 47,000
30. 30 Bellatrix Corporate Presentation
CORPORATE INFORMATION
BOARD OF DIRECTORS
W.C. (Mickey) Dunn
Chairman
Doug N. Baker, FCA
Murray L. Cobbe
John H. Cuthbertson, QC
Melvin M. Hawkrigg, BA, FCA, LLD (Hon.)
Robert A. Johnson, P.Geol.
Keith E. Macdonald, CA
Raymond G. Smith, P. Eng.
Murray B. Todd, B.Sc., P. Eng.
Keith S. Turnbull, B.Sc., CA
OFFICERS
Raymond G. Smith, P.Eng.
President & CEO
Edward J. Brown, C.A.
Executive Vice President, Finance & CFO
Brent A. Eshleman, P.Eng.
Executive Vice President
Tim A. Blair
Vice President, Land
Leanne K. Gress-Blue, C.A.
Vice President, Finance
Kelly M. Nichol
Vice President, Business Development
Russell G. Oicle, P. Geol.
Vice President, Exploration
Garrett K. Ulmer, P.Eng.
Vice President, Engineering
Ving Y. Woo, P.Eng.
Vice President Engineering & COO
BANKERS
National Bank of Canada
Alberta Treasury Branches
HSBC Bank Canada
Canadian Imperial Bank of Commerce
The Bank of Nova Scotia
Bank of Montreal
The Toronto Dominion Bank
Union Bank, Canada Branch
Wells Fargo Bank N.A., Canadian Branch
Corporation Canada
EVALUATION ENGINEERS
Sproule Associates Limited
REGISTRAR & TRANSFER AGENT
Computershare Trust Company of Canada
LEGAL COUNSEL
Burnet, Duckworth & Palmer LLP
AUDITORS
KPMG LLP
EXCHANGE LISTING
The Toronto Stock Exchange - BXE
NYSE MKT - BXE
31. 31 Bellatrix Corporate Presentation
Analyst Firm
Jeremy McCrea AltaCorp Capital
Steve Toth Canaccord Genuity
Adam Gill CIBC
Brian Kristjansen Dundee Capital
Grant Daunheimer GMP Securities
Christina Lopez Macquarie Capital
Dan Payne National Bank Financial
Jared Lewis Northland Capital Markets
Ken Lin Paradigm Capital
Jason Bouvier Scotia Capital
Juan Jarrah TD Securities Inc
ANALYST COVERAGE
32. 32 Bellatrix Corporate Presentation
ADVISORY
FORWARD LOOKING STATEMENTS: In the interest of providing Bellatrix’s shareholders and potential investors with information regarding Bellatrix, including management’s
assessment of Bellatrix’s future plans and operations, certain statements made by the presenter and contained in these presentation materials (collectively, this “presentation”)
are “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking statements”. The forward-looking
statements contained in this presentation speak only as of the date of this presentation and are expresslyqualified bythis cautionary statement.
Certain information contained herein may contain forward looking statements including management's assessment of future plans and operations, drilling plans and the timing
thereof, commodity price risk management strategies, expected 2014 average production and exit rate, estimates of commodity prices and exchange rates, estimated recovery
from wells to be drilled in 2014 capital expenditures and nature of expenditures and method of financing thereof and drilling inventory and costs and time to develop, estimated
2014 Revenues, expected 2014 operating costs and estimated 2014 cash from operations, cash per share and estimated 2014 debt levels, may constitute forward-looking
statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation,
production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, actual results from wells to be
drilled may not be similar to the results from previous wells drilled, environmental risks, competition from other producers, inability to retain drilling rigs and other services,
incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals
and ability to access sufficient capital from internal and external sources. The recovery and estimates of Bellatrix's reserves provided herein are estimates only and there is no
guarantee that the estimated reserves will be recovered. Events or circumstances may cause actual results to differ materially from those predicted, as a result of the risk factors
set out and other known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Bellatrix. Readers are cautioned that the foregoing list is
not exhaustive of all factors and assumptions which have been used. As a consequence, actual results may differ materially from those anticipated in the forward-looking
statements. Additional information on these and other factors that could effect Bellatrix's operations and financial results are included in reports on file with Canadian securities
regulatory authorities and the U.S. Securities Exchange Commission, may be accessed through the SEDAR website (www.sedar.com) the SEC’s website (www.sec.gov) or at
Bellatrix's website (www.bellatrixexploration.com). Estimated 2014 cash from operations, cash per share and 2014 year end debt levels may constitute financial outlooks under
applicable securities laws and were approved by management on March 12, 2014. The forward-looking statements contained herein are made as at the date hereof and Bellatrix
does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or
otherwise, except as may be required by applicable securities laws.
NON-GAAP MEASURES: This presentation contains the term "cash from operations" which should not be considered an alternative to, or more meaningful than "cash flow from
operating activities" as determined in accordance with Canadian GAAP as an indicator of the Company's performance. Therefore reference to cash from operations or cash from
operations per share may not be comparable with the calculation of similar measures for other entities. Management uses cash from operations to analyze operating performance
and leverage and considers cash from operations to be a key measure as it demonstrates the Company's ability to generate the cash necessary to fund future capital investments
and to repay debt. The reconciliation between cash flow from operating activities and funds flow from operations (the Company calculates funds flow from operations in the same
manner as cash from operations) can be found in the Company's Management's Discussion and Analysis. Cash from operations per share is calculated using the weighted
average number of shares for the period.
33. 33 Bellatrix Corporate Presentation
ADVISORY
FD&A COSTS: This presentation includes calculations of finding, development and acquisition ("FD&A") costs for the year ended December 31, 2013. National Instrument 51-101
Standards of Disclosure for Oil and Gas Activities ("NI 51-101") requires that written disclosure of finding and development costs to be calculated in accordance with Section 5.15 of
NI 51-101 which does not include the reserves additions associated with acquisitions or the costs of acquisitions in the calculation. The calculations of FD&A in this presentation
include the reserves additions associated with acquisitions and the costs of acquisitions as the Company believes that including the effect of acquisitions provides useful information
to investors. FD&A costs for the year ended December 31, 2013 and 2012 are $9.67/boe and $6.95/ proved plus probable boe respectively and the average FD&A for the last three
completed years is $9.01/ proved plus probable boe. The finding and developments costs calculated in accordance with Section 5.15 of NI 51-101 for the years ended December 31,
2013 and 2012 are $10.67/proved boe ($9.65/proved plus probable boe) and $11.73/proved boe ($7.31/proved plus probable boe) and the average finding and development costs
for the last three completed years is $11.47/proved boe ($8.86/proved plus probable boe). The aggregate of the exploration and development costs incurred in the most recent
financial year and the change during that year in estimated future development costs generally will not reflect total finding and development costs related to reserve additions for that
year.
BOE PRESENTATION The term barrels of oil equivalent (“boe”) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to
one barrel of oil equivalent (6 mcf/bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the
wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a
conversion on a 6:1 basis may be misleading as an indication of value. All boe conversions in this presentation are derived from converting gas to oil in the ratio of six thousand cubic
feet of gas to one barrel of oil.
INITIAL PRODUCTION RATES: Initial Production rates discloses herein may not be indicative of long-term performance or ultimate recovery.
ESTIMATED ULTIMATE RECOVERY (EUR): In this presentation, estimated ultimate recovery for Cardium oil wells is a representative value within the range of estimates of proved
plus probable reserves per well as evaluated by Sproule Associates Limited effective December 31, 2013 based on forecast prices and costs. Estimated ultimate recovery for
Notikewin wells is a representative value within the range of estimates of proved plus probable reserves per well as evaluated by Sproule Associates Limited effective December 31,
2013 based on forecast prices and costs. Estimated ultimate recovery for Duvernay wells does not represent an estimate of resources but has been provided to show management's
assumptions used for its internal projections and plans. There is no certainty that any resources will be discovered for such Duvernay wells. If discovered, there is no certainty that it
will be commerciallyviable to produce any portion of the resources.
CURRENCY: All dollar amounts in this presentation are Canadian dollars unless otherwise identified.