Prairie Provident Resources, Inc. · TSX:PPR
Prairie Provident Resources — Shareholder Meeting (August 2023)
16 slides from Prairie Provident Resources's shareholder meeting presentation, Aug 23, 2023
Slide 1: Re-Positioning to Unlock Significant Value for Shareholders
Re-Positioning to Unlock Significant Value for Shareholders TSX: PPR Annual General Meeting August 23, 2023
Slide 2: Corporate Overview
Corporate Overview CORPORATE SUMMARY Low Decline Asset Base Production (Q4 2022) (boe/d) 3,753 with long reserve life & Production (H1 2023) (boe/d) 3,648 significant upside Evi Production mix 63% Liquids potential through waterflooding Prairie Provident Resources | August 2023 Reserves (2P)(1) 31.9
Slide 3: Recent Recapitalization
Recent Recapitalization • PPR has recently executed a recapitalization that has significantly improved its balance sheet • Summary: Prairie Provident Resources | August 2023 • Unsecured notes converted to equity • New $5 million 2nd lien notes • Equity raise of $4 million • Secured credit facility e
Slide 4: Pro Forma Recapitalization Overview
Pro Forma Recapitalization Overview Significantly improves balance sheet health Transaction & PPR PPR H1 2023 Pro Forma Dec. 31 Adjustments(1) Jun. 30 715.3 Basic Shares Outstanding(2) 130.1 585.2 (3) Existing Warrants 34.3 (34.3) - Prairie Provident Resources | August 2023 New Equity Financing Warr
Slide 5: Pro Forma Investment Highlights
Pro Forma Investment Highlights ✓ Attractive value of ~$0.388(1) and $0.667(1) NAV per share based on 1P and 2P reserves ✓ Significantly reducing debt/leverage to enhance shareholder value with Prudential Prairie Provident Resources | August 2023 becoming a major shareholder in support of our strate
Slide 6: 2022 Reserves Highlights
2022 Reserves Highlights Underpinned by low decline oil assets with long RLI & Strong Netbacks YEAR END 2022 RESERVES SUMMARY (1) (3) EV/1PNPV10 = 43% Proved Total proved Prairie Provident Resources | August 2023 developed plus probable producing (PDP) Total proved (1P) (2P) (3) EV/2PNPV10 = 27% Lig
Slide 7: Optimization Program Economics by Area
Optimization Program Economics by Area Project Metrics(3) (Net) Price File SAL MAY 2022 WI % 84 Evi Reserve Add Oil Mbbl 637 42+ Opportunities in Total Prairie Provident Resources | August 2023 Gas MMcf 4,795 • Well reactivations (30+ gross wells) Liq Mbbl 84 • Plunger installs in Michichi Total Mbo
Slide 8: Princess Optimization
Princess Optimization • Well reactivations - Glauconitic & Detrital formations • Water injection projects Prairie Provident Resources | August 2023 - OpCost reductions, supports further development Princess 8 TSX: PPR
Slide 9: Michichi Optimization
Michichi Optimization • Plunger Installations • Reactivations in numerous horizons - Banff Prairie Provident Resources | August 2023 - Detrital - Horseshoe Canyon - Ellerslie - Belly River Michichi/Wheatland 9 TSX: PPR
Slide 10: Evi Optimization
Evi Optimization • Casing Gas Compression Evi • Central compression • Reactivations Prairie Provident Resources | August 2023 • Water Injector Stims • Water Injector Conversions 10 TSX: PPR
Slide 11: PPR Investment Proposition
PPR Investment Proposition Unlock value through multi-step process Maximize Shareholder Exploit Returns Large Prairie Provident Resources | August 2023 Drilling Unlock Inventory Near-Term Value Create long-term value for Restructure shareholders including possible exit or returning cash Debt 14.2 ye
Slide 12: Corporate Information
Corporate Information Head Office Prairie Provident Resources Canada Ltd. 1100, 640 – 5th Avenue SW Calgary, Alberta, Canada T2P 3G4 Auditors Legal Counsel EY LLP MLT Aikins Bennett Jones Reserve Engineers Sproule Associates Limited Analyst Coverage Research Capital PPR
Slide 13: Reader Advisories: Forward-Looking Information
Reader Advisories Forward-Looking Information Certain information included in this presentation constitutes forward-looking information within the meaning of applicable Canadian securities laws. Statements that constitute forward-looking information relate to future performance, events or circumstan
Slide 14: Reader Advisories: Non-GAAP Financial Measures and Oil and Gas Metrics
Reader Advisories Non-GAAP Financial Measures and Oil and Gas Metrics This presentation discloses certain financial measures, as described below, that are 'non-GAAP financial measures' within the meaning of applicable Canadian securities laws. Such measures do not have a standardized or prescribed m
Slide 15: Reader Advisories: Non-GAAP Measures (Continued)
Reader Advisories Non-GAAP Financial Measures and Oil and Gas Metrics (Continued) Estimated Ultimate Recovery (EUR). The type well information provided in this presentation includes estimated ultimate recovery (EUR), which is a measure commonly used in the oil and gas industry but is not a resource
Slide 16: Reader Advisories: Reserves Data Disclosure
Reader Advisories Reserves Data Disclosure Figures provided in this presentation as to proved reserves and probable reserves volumes, and net present value of related future net revenue, are estimates of such volumes and values as at December 31, 2022 based on an evaluation by Sproule Associates Lim
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