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Corporate Presentation January 2014

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 petroleum and natural gas prospects in select core areas and grow its reserve base through drilling.

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Page 1: Altima Resources Corporate Presentation

Corporate Presentation January 2014

Page 2: Altima Resources Corporate Presentation

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

Page 3: Altima Resources Corporate Presentation

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

Page 4: Altima Resources Corporate Presentation

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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

Page 5: Altima Resources Corporate Presentation

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

Page 6: Altima Resources Corporate Presentation

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

Page 7: Altima Resources Corporate Presentation

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

ConocoPhillips Compressor Station

Encana-Baytex Compressor Station

Page 8: Altima Resources Corporate Presentation

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

Page 9: Altima Resources Corporate Presentation

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

[email protected]

Page 10: Altima Resources Corporate Presentation

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

Page 11: Altima Resources Corporate Presentation

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

New Discovery

Page 12: Altima Resources Corporate Presentation

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 Well Notikewin Well

15-35

14-15

Page 13: Altima Resources Corporate Presentation

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

Page 14: Altima Resources Corporate Presentation

Page 14

CHAMBERS-FERRIER MULITPLE ZONE POTENTIAL

Drill targets at Chambers range from 1,100 meters to 3,400 meters with most concentrated between 2,000 and 3,300 meters (approximately 6,500 to 10,000 feet)

Altima’s land holdings have over a dozen known producing zones; many of which are stacked (see diagram below)

* Marketable gas >15 TCF by Stratigraphic Interval (1) Effective April 1, 2010: These formations fall within ERCB DE No. 2. Production from these intervals can be co-mingled with a density of 4 wells per pool (zone) per section *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)

Page 15: Altima Resources Corporate Presentation

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

Page 16: Altima Resources Corporate Presentation

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

CU

MU

LATI

VE

PR

OB

AB

ILIT

Y (%

)

3 MONTH INITIAL PRODUCTION RATE PER WELL (MCF/D)

MOST WELLS UTILIZED OLDER

COMPLETION TECHNIQUES

CHAMBERS/FERRIER MULTI ZONE INITIAL PRODUCTION

Page 16

Page 17: Altima Resources Corporate Presentation

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

CU

MU

LATI

VE

PR

OB

AB

ILIT

Y (%

)

MOST WELLS UTILIZED OLDER

COMPLETION TECHNIQUES

CHAMBERS/FERRIER MULTI ZONE RESERVES

Page 17

Page 18: Altima Resources Corporate Presentation

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

Page 19: Altima Resources Corporate Presentation

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

Page 20: Altima Resources Corporate Presentation

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

Completed Pipeline Drill Workover Production

5-35

Page 21: Altima Resources Corporate Presentation

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

Page 22: Altima Resources Corporate Presentation

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

Page 23: Altima Resources Corporate Presentation

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

Page 24: Altima Resources Corporate Presentation

APPENDIX 6 - CHAMBERS/FERRIER MULTI ZONE RATE/RESERVES

RECENT COMPLETION MULTI ZONE FRACS IP: 2.75 MMCF/D EST RESERVES: 5 BCF`

Page 24

Page 25: Altima Resources Corporate Presentation

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

Page 26: Altima Resources Corporate Presentation

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

Page 27: Altima Resources Corporate Presentation

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

Page 28: Altima Resources Corporate Presentation

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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