Divestco — Shareholder Meeting (May 2011)
14 slides from Divestco's shareholder meeting presentation, May 19, 2011
Slide 1: From the Ground Up
2011 DIVESTCO ANNUAL GENERAL & SPECIAL MEETING From the Ground Up Presented by Stephen Popadynetz May 19, 2011
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: 59,392,319 Insider Ownership: ~35% Employees: 280 52 Week High/Low: $0.61/0.15 Current Share Price: $0.16 Current Market Cap: $9,502,771 Integrated Solutions for the Oil & Gas Industry 11/08/26 3
Slide 4: Board of Directors
Board of Directors Stephen Popadynetz - Director & CEO Wade Brillon - Director Brent Gough - Director (1,2,3) Edward L. Molnar - Director (1,2) Bill Tobman - Director (1,3) (1) Member of Audit Committee (2) Member of Compensation Committee (3) Member of Corporate Governance Committee Integrated Solu
Slide 5: Officers
Officers Stephen Popadynetz - Chief Executive Officer Roderick Chisholm - Chief Financial Officer Steve Sinclair-Smith - Chief Operating Officer Lonn Hornsby - SVP Seismic Operations Danny Chiarastella - VP Finance Mathew Hepton - VP Software Integrated Solutions for the Oil & Gas Industry 11/08/26
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 Integrated Solutions for the Oil & Gas Industry 11/08/26 6
Slide 7: Balance Sheet Review
Balance Sheet Review 2008 2009 2010 Working $(9.8)M $(6.2)M $3.7M Capital(1) Funded Debt $48.1M $30.5M $2.6M Long Term Debt $33.5M $24.3M $0.6M Obligations Funded 0.43X 0.29X 0.14X Debt/Equity Debt/Equity 0.98X 0.65X 0.98X (1) Net of Deferred Revenue Integrated Solutions for the Oil & Gas Industry 1
Slide 8: Financial Review
Financial Review 2009 Results 2010 Results % Change Revenue $62M $41.1M (34)% EBITDA $24.9M $(6.3)M (125)% Net Income $(6.2)M $(65.0)M (2) 948% Funds from $0.57/share $(0.16)/share (128)% Operations(1) EPS(1) $(0.15)/share $(1.53)/share 920% (1) Basic and diluted weighted average shares outstanding
Slide 9: 2010 & 2011 Operational Highlights
2010 & 2011 Operational Highlights Financial – Strength in a Good Balance Sheet Paid 0.3313 of a Pulse share and special cash dividend of $8.6M ($0.20 per share) in October 2010 to our shareholders (total value of dividend ~ $0.85) Reduced working capital deficit from ($6.2M) to a positive $3.7M a $
Slide 10: 2010 & 2011 Operational Highlights
2010 & 2011 Operational Highlights SEISMIC – The Rebuild of a Dataset Commenced rebuild of seismic data library –shot Ferrier and in field acquiring Cochrane Acquiring strategic seismic data assets which have met > 65% pre commitment funding and are in multi- zone “oily” target areas (less spending
Slide 11: Cochrane 3D – In Field
Cochrane 3D – In Field Why Cochrane? - oil plays (Cardium and Viking) - difficult land permitting issues - room for sequels (North – NW) Integrated Solutions for the Oil & Gas Industry 11/08/26 11
Slide 12: 2011 Initiatives & Outlook
2011 Initiatives & Outlook Continued focus on operating expenses across all business and support lines – we continue to “right size” DVT Focus on new software offerings (Our R&D software efforts are finally reaching market!) Further strengthen balance sheet and achieve optimal capital structure Main
Slide 13: Questions?
Questions? Thank you for your interest For further information, please contact: Stephen Popadynetz, CEO 587.952.8152, stephen@divestco.com Roderick Chisholm, CFO 587.952.8029, rod.chisholm@divestco.com investor.relations@divestco.com Integrated Solutions for the Oil & Gas Industry 11/08/26 13
Slide 14: Integrated Solutions for the Oil & Gas Industry
Integrated Solutions for the Oil & Gas Industry 11/08/26 14