Logan Energy Corp · TSXV:LGN
Logan Energy — Investor Presentation (October 2023)
22 slides from Logan Energy's investor presentation, October 2023
Slide 1: A Differentiated Growth Company
A Differentiated Growth Company INVESTOR PRESENTATION OCTOBER 2023
Slide 2: The Logan Opportunity: A Differentiated Growth Company
THE LOGAN OPPORTUNITY A Differentiated Growth Company ABOUT LOGAN INVESTMENT RATIONALE Logan Energy Corp. (“Logan”) is a growth-oriented exploration, development and production company formed through the spin-out of Spartan Delta Corp.’s early stage Montney assets. Track Record of Excess Returns and
Slide 3: Organic Growth Augmented by Strategic Acquisitions to Build a Quality Asset Base
STRATEGY Organic Growth Augmented by Strategic Acquisitions to Build a Quality Asset Base 1 2 3 4 Grow our Assets Identify, Acquire and Execute with Cost Effective Capital Delineate High Quality Discipline Allocation with Inventory Conservative Leverage • Organic growth plan delivers • Build and exp
Slide 4: Building in the Premier Resource Play
THE MONTNEY Building in the Premier Resource Play BC AB T87 Logan Energy ▪ High quality inventory depth is becoming scarce KEL Kelt Exploration FLATROCK ▪ The Montney offers: LGN T85 Arc Resources Tourmaline Oil - Highly competitive play economics FSJ Crew Energy - Scalable production growth T83 Coe
Slide 5: Three Unique Montney Assets, Each Opportunity Rich
LOGAN’S MONTNEY ASSETS Three Unique Montney Assets, Each Opportunity Rich Flatrock FLATROCK POUCE COUPE GOLD CREEK SIMONETTE ▪ Emerging undeveloped Montney property prospective for both gas Doig WEST (DIVESTED) condensate and oil development ▪ High quality subsurface properties underpin asset potent
Slide 6: H2 2023 Budget Sets Up for >50% Growth into 2024
BUDGET OVERVIEW H2 2023 Budget Sets Up for >50% Growth into 2024 SUMMARY & CAPITAL ALLOCATION GUIDANCE H2 2023 Dec-23 Production Exit Target ▪ Planning an active H2 2023; drilling commenced in July and onstream of first new production expected in Q4 2023 Crude Oil and Condensate boe/d 1,100 2,000 ▪
Slide 7: Organic Growth Trajectory and Capital Allocation
LONGER TERM CONSIDERAIONS Organic Growth Trajectory and Capital Allocation NEAR TERM INDICATIVE ORGANIC GROWTH PLAN ▪ Applying modern well design to historically underinvested asset base to deliver significant near-term production growth on a low decline base ▪ Targeting liquids rich opportunities w
Slide 8: We are Builders: Substantial Value can be Created Section by Section
SPARTAN MONTNEY LOOKBACK We are Builders: Substantial Value can be Created Section by Section Land Position Assembly Operational Execution ▪ Aggressively built out the Spartan Gold Creek/Karr position through 12 opportunistic and creative deals ▪ Spartan grew production both through acquisitions and
Slide 9: Simonette: Core Growth Asset with Owned Infrastructure
SIMONETTE Core Growth Asset with Owned Infrastructure Asset Characteristics Simonette North Oil ▪ Opportunity rich asset with owned infrastructure that together present ▪ Existing wells in the oil window have legacy a compelling growth opportunity low-intensity frac designs ▪ Major infrastructure in
Slide 10: Pouce Coupe: Proven Development Inventory Requiring Additional Infrastructure and Egress
POUCE COUPE Proven Development Inventory Requiring Additional Infrastructure and Egress Asset Characteristics Pouce North Gas ▪ Northern play segment defined by high porosity ▪ Low risk, high return development in Pouce South oil play segment and gas migration T82 provides repeatable production grow
Slide 11: Flatrock: High Quality Subsurface Properties on Large Contiguous Undeveloped Land Base
FLATROCK High Quality Subsurface Properties on Large Contiguous Undeveloped Land Base Asset Characterists Logan MNTN Land Ind. Montney Well TCPL ▪ Large contiguous land base Westcoast Pipeline North River HP System - Over 55,000 acres all 100% WI with no encumbrances Pembina Battery/Plants - Good ye
Slide 12: Egress, Marketing & Hedging: Well Positioned For Growth
EGRESS, MARKETING & HEDGING Well Positioned For Growth HEDGING ▪ Logan is currently unhedged providing full exposure to market prices and maintaining Flatrock flexibility to adjust to market conditions Fort St John Pouce Coupe GAS MARKETING & EGRESS Grande Prairie ▪ All gas currently connected to NG
Slide 13: Our Competitive Advantage
LOGAN ETHOS Our Competitive Advantage Technical Leaders Focused Execution and Entrepreneurially Driven Cost Discipline Highly technical team with a proven track An ownership mindset towards cost reductions Team is aligned through significant equity record of identifying high quality, yet and consist
Slide 14: www.loganenergycorp.com
www.loganenergycorp.com 14
Slide 15: Management Team and Independent Board of Directors
LOGAN TEAM Management Team and Independent Board of Directors MANAGEMENT TEAM Richard McHardy ▪ Former Executive Chairman of Spartan Delta, President, CEO and Director of Spartan Energy, Spartan Oil, and Spartan Exploration and President President & CEO and Director of Titan Exploration Brendan Pato
Slide 16: Every Spartan Delta Equity Financing Significantly Outperformed the Index
TRACK RECORD Every Spartan Delta Equity Financing Significantly Outperformed the Index DECEMBER 2019 MAY 2020 MARCH 2021 AUGUST 2021 $25 million at $64 million at $124 million at $150 million at $1.00 per Share $2.00 per Share $4.35 per Share $5.05 per Share Founding Financing Bellatrix Asset Acquis
Slide 17: Leadership has Generated Excess Returns Through Multiple Entities and Cycles
TRACK RECORD Leadership has Generated Excess Returns Through Multiple Entities and Cycles SPARTAN SPARTAN SPARTAN SPARTAN EXPLORATION OIL ENERGY DELTA Period January 2010 to May 2011 June 2011 to January 2013 December 2013 to May 2018 December 2019 to June 2023 Equity Returns (1) Total Equity Issued
Slide 18: Corporate Information and Analyst Coverage
CORPORATE INFORMATION ANALYST COVERAGE EXECUTIVE OFFICE STOCK EXCHANGE LISTING INSTITUTION ANALYST Logan Energy Corp. The TSX Venture Exchange 1800, 736 6 Avenue SW National Bank Financial Dan Payne Trading Symbol: LGN Calgary, Alberta T2P 3T7 Scotia Capital Cameron Bean P: 587 770 2020 INVESTOR INF
Slide 19: Disclaimer
DISCLAIMER Forward Looking Statements Forward Looking Statements (Continued) ▪ Certain information included in this presentation constitutes forward-looking information under applicable ▪ (continued from previous column) Actual results may vary materially from forecasts due to changes in interest se
Slide 20: Disclaimer: Oil and Gas Advisories
DISCLAIMER Oil and Gas Advisories ▪ BOE Disclosure. The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A ▪ Unbooked locations have been identified by management as an estimation of our multi-year drilling activities BOE conversion ratio of six thousand c
Slide 21: Disclaimer: Non-GAAP Measures and Ratios
DISCLAIMER Non-GAAP Measures and Ratios ▪ This presentation contains certain financial measures and ratios, as described below, which do not have ▪ "Equity Returns“: The compounded annual return attributed to common share holders over the period noted. standardized meanings prescribed by Internation
Slide 22: Abbreviations & Definitions
ABBREVIATIONS & DEFINITIONS A&D Acquisitions and Dispositions MM or mm Million AECO Alberta Energy Company "C" Meter Stations of the NOVA Pipeline System mmboe Million barrels of oil equivalent AFF Adjusted Funds Flow mmboe/sec Million barrels of oil equivalent per section API American Petroleum Ins