Evi Area – Slave Point Light Oil Resource Play

DESCRIPTION:

  • 95% operated
  • 82% working interest
  • 39 deg. API oil
  • Company controls pace of development & capital
  • 2D & 3D seismic coverage
  • Established infrastructure supports strong netbacks

Waterflood Summary:

  • Opportunity for a doubling of reserve bookings and recovery over time
  • Initial results of early waterflood pilots show production increases in wells offsetting injectors
  • Seven approved waterflood schemes with proven results and significant room for expansion
  • Low-risk infill and exploitation potential on 78,000 net acres of undeveloped land
  • Incremental EUR from waterflood ~6.8 MMbbl