Parex Resources Inc. · TSX:PXT
Parex Resources — Investor Presentation (May 2025)
18 slides from Parex Resources's investor presentation, May 2025
Slide 1: Parex Resources Investor Presentation May 2025
Parex Resources Investor Presentation May 2025
Slide 2: Leading Colombian Oil & Gas Company
▪ Leading Colombian Oil & Gas Company ▪ Value Creation in Colombia since 2009 ▪ Sustainable Portfolio with Long-Term Growth Runway ▪ Strong Return of Capital Track Record ▪ Top-Tier ESG Performance Stock Symbol TSX:PXT Shares Outstanding(1) 97.5 million Market Capitalization(2) C$1.0 billion Quarter
Slide 3: Colombia and Parex Advantages
Colombia ~760,000 Independent Free OECD BBL/D Branches of Capital Movement Member Oil Production(1) Government & No Foreign Country Currency Controls Parex Advantages Offshore Top Decile Established Strong Strategic Partner Oil Sales Cash Flow per BOE Social License with Ecopetrol S.A. Paid in USD b
Slide 4: Colombia-Focused Strategy
Colombia-Focused Strategy Parex Resources is 100% focused on Colombia Unlocking extensive Exploitation land base using & Technology proven technology Pursuing onshore, Capturing exploration upside world-class gas plays that while actively managing are underexplored shareholder risk & reward Gas Expl
Slide 5: Portfolio Evolution
Portfolio Evolution Continually managing shareholder opportunities and overall corporate risk profile ✓ High-graded big ‘E’ exploration with Llanos Foothills ▪ Executed agreements to acquire game-changing potential(1)(2) 2025 2026+ ▪ Added top-ranked Farallones Foothills prospect(2) E Hidra VIM-1 Fo
Slide 6: 2025 Activity Plan
2025 Activity Plan Diversified, lower-risk capital program, with growing H2 2025 production profile planned Near-Field Exploration ~6 wells VIM-1 Higher chance of success exploration prospects 1 Big ‘E’ well Southern Llanos focus; building off previous basin success Hidra Less than $10MM per drill o
Slide 7: 2025 Capital Allocation
2025 Capital Allocation Plan built for sustainability, with investments in both current production and future inventory 2025F CAPITAL ALLOCATION(1) Fundamentals ($ millions) ▪ Strong FFO netbacks(1) $500 ▪ Oil prices linked to Brent with $75 narrow quality differentials $70 $400 ▪ Progressive fiscal
Slide 8: Core Southern Llanos Blocks: LLA-32, LLA-34 and Cabrestero
Core Southern Llanos Blocks: LLA-32, LLA-34 and Cabrestero Flagship assets that represent ~75% of net corporate production Key Southern Casanare (“SOCA”) Blocks Key Takeaways LLA-32 ▪ Acquired remaining working interest for the block for $16MM, providing full asset LLA-32(1) control while growing cu
Slide 9: Strategic Entry into the Putumayo Basin of Colombia
Strategic Entry into the Putumayo Basin of Colombia Establishing a low-risk development & exploitation platform that can become a new core area for PXT Transaction Details(1) Putumayo Blocks ▪ Acquiring 50% W.I. in four blocks via a phased business collaboration agreement, with no upfront acquisitio
Slide 10: VIM-1 Hidra Prospect
VIM-1 Hidra Prospect Directly offset producing VIM-1 La Belleza Discovery Prospect Successful Gas Cycling Project VIM-1 3D Seismic Depth Hidra-1 La Belleza-1 La Belleza-2 Kraken Hidra Norte La Belleza Hidra-1 Developed Field South North Map is for Illustrative Purposes Only Prospect Utilizing advanc
Slide 11: Llanos Foothills: World-Class Resource Trend
Llanos Foothills: World-Class Resource Trend Provides game-changing potential at an enhanced risk & reward profile PXT/ECP Aligned Area(1) Sirirí PXT Proven Operatorship Capachos Resource Highlights track record of technical Cumulative production from area expertise & stakeholder engagement; Aligned
Slide 12: YE 2024 Results & Achievements
YE 2024 Results & Achievements ▪ Generated strong financial results(1) ▪ $622MM of funds flow provided by operations (2) ▪ $275MM of free funds flow(3) ▪ Returned $186MM to shareholders via regular dividends and share buybacks ▪ Achieved multiple strategic milestones(1) ▪ Waterflood Programs: comple
Slide 13: Return of Capital
Return of Capital Demonstrated long-term track record of returning capital to shareholders and continually lowering the fully diluted share count RETURN OF CAPITAL (C$MM) OUTSTANDING SHARES (MM) ~$205 ~$2,005 162 $254 148 ~40% Reduction $300 (2018A-2024A) 134 $384 122 $334 110 104 98 $230 $300 2019A
Slide 14: Key Takeaways
Key Takeaways Strategy Continued Sustainable Intact Return of Capital Portfolio ✓ Conventional Colombian resources ✓ Strong track record of returns ✓ Optimizing core fields offer strong netbacks ✓ Returns through dividends and ✓ Redeveloping Putumayo ✓ Partnerships with Ecopetrol share buybacks ✓ Ex
Slide 15: Contact Information
Contact Information Mike Kruchten Senior Vice President, Capital Markets & Corporate Planning 403-517-1733 investor.relations@parexresources.com Steven Eirich Senior Investor Relations & Communications Advisor 587-293-3286 investor.relations@parexresources.com Parex Resources Inc. 2700 Eighth Avenue
Slide 16: Advisory
Advisory This presentation is provided for informational purposes only as of May 8, 2025, is not complete and may not contain certain material information about Parex Resources Inc. ("Parex" or the "Company"), including important disclosures and risk factors associated with an investment in Parex. T
Slide 17: Advisory: Non-GAAP and Other Financial Measures
Advisory Non-GAAP and Other Financial Measures Advisory This presentation uses various "non-GAAP financial measures", "non-GAAP ratios", "supplementary financial measures" and "capital management measures" (as such terms are defined in National Instrument 52-112 – Non-GAAP and Other Financial Measur
Slide 18: Advisory: Oil and Gas Information
Advisory Oil and Gas Information This presentation contains a number of oil and gas metrics, including funds flow provided by operations netback. These oil and gas metrics have been prepared by management and do not have standardized meanings or standard methods of calculation and therefore such mea