Divestco — Shareholder Meeting (May 2012)
19 slides from Divestco's shareholder meeting presentation, May 17, 2012
Slide 1: 2012 Divestco Annual General & Special Meeting
2012 Divestco Annual General & Special Meeting Presented by Stephen Popadynetz May 17, 2012
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation may contain forward-looking statements, including statements regarding the business and anticipated financial performance of Divestco Inc. (“Divestco” or the “Company”). These forward-looking statements involve known and unknown risks, uncertainties and o
Slide 3: Company Snapshot
Company Snapshot Stock Symbol : DVT (TSX-V) Shares Outstanding: 66,635,079 Insider Ownership: ~41% Employees & Contractors: 280 52 Week High/Low: $0.24/$0.10 Current Share Price: $0.20 Current Market Cap(1): $23,019,016 (1) Includes funded debt of $9,692,000 6/11/2012 3
Slide 4: Board of Directors
Board of Directors Stephen Popadynetz - Director, CEO, CFO & President Edward L. Molnar - Chairman (1,2) Brent Gough - Director (1,2,3) Bill Tobman - Director (1,2,3) Wade Brillon - Director (1) Member of Audit Committee (2) Member of Compensation Committee (3) Member of Corporate Governance Committ
Slide 5: Officers
Officers Stephen Popadynetz - Chief Executive Officer Chief Financial Officer President Steve Sinclair-Smith - Chief Operating Officer Lonn Hornsby - SVP Seismic Operations Danny Chiarastella - VP Finance Mathew Hepton - VP Software 6/11/2012 5
Slide 6: Financial Highlights by Year
Financial Highlights by Year 120 100 80 Revenue 60 40 EBITDA $ Millions 20 Net Income 0 (20) (40) (60) (80) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 6/11/2012 6
Slide 7: Balance Sheet Review
Balance Sheet Review 2009 2010 2011 (CGAAP) (IFRS) (IFRS) Working $(6.3)M $3.6M $0.3M Capital(1) Funded Debt $30.5M $2.6M $9.4M Long Term Debt $26.9M $0.6M $5.7M Obligations Funded Debt to 0.28X 0.14X 0.64X Equity Ratio (1) Excludes deferred revenue 6/11/2012 7
Slide 8: Financial Review
Financial Review 2010 Results 2011 Results $ Change (IFRS) (IFRS) Revenue $40.2M $40.5M $0.3M EBITDA $(48.8)M (2) $6.1M $54.9M Net Income (Loss) $(65.6)M (2) $(4.6)M $61M Per Share(1) $(1.54)/share $(0.08)/share N/A Funds from (used in) Operations $(5.3)M $5.7M $11M Per Share(1) $(0.13)/share $0.10/
Slide 9: 2011 & 2012 Operational Highlights
2011 & 2012 Operational Highlights Surrendered four floors of space in the Company’s current office premises for a savings of $4 million and we will surrender one additional floor towards the end of 2012 which will provide Divestco around $5 million in occupancy cost reductions $13.1 million reducti
Slide 10: 2011 & 2012 Operational Highlights
2011 & 2012 Operational Highlights Seismic Data – Divestco’s seismic database has now grown to over 760 square kilometres and approximately 50 linear kilometres of 2D Completed three seismic participation surveys in the last year Presently have around 1,000 square kilometres of new 3D’s proposed for
Slide 11: Seismic Shoot Update
Seismic Shoot Update 17 sq.kms. Completed October 2011 6/11/2012 11
Slide 12: Seismic Shoot Update
Seismic Shoot Update 233 sq.kms. Completed November 2011 6/11/2012 12
Slide 13: Seismic Shoot Update
Seismic Shoot Update 235 sq.kms. Completed March 2012 6/11/2012 13
Slide 14: Seismic Shoot Update
Seismic Shoot Update 27 sq.kms. Completed April 2012 6/11/2012 14
Slide 15: Seismic Shoot Update
Seismic Shoot Update 114 sq.kms. Completed May 2012 6/11/2012 15
Slide 16: 2012 Initiatives – Debt Restructure
2012 Initiatives – Debt Restructure Currently waiting on regulatory/legal approval to offer a $5.0M Debenture and Seismic Royalty Interest which will effectively replace the entire subordinated loan, reduce interest payments (current loan is at 12%) and retire the debt through seismic data sales. Te
Slide 17: 2012 Initiatives & Outlook
2012 Initiatives & Outlook Large seismic project being planned for fall 2012 with other opportunities available Several large transactions pending over next 6 months (significant seismic inventory sales forecast – we have large amounts of data over industry lands where no licensing has occurred) Law
Slide 18: Questions?
Questions? Thank you for your interest For further information, please contact: Stephen Popadynetz, CEO 587.952.8152, stephen@divestco.com Danny Chiarastella, VP Finance 587.952.8027, danny.chiarastella@divestco.com investor.relations@divestco.com 6/11/2012 18
Slide 19: 6/11/2012
6/11/2012 19