Akita Drilling Ltd. Class A · TSX:AKT
Akita Drilling Ltd. Class A — Shareholder Meeting (May 2025)
15 slides from Akita Drilling Ltd. Class A's shareholder meeting presentation, May 13, 2025
Slide 1: Annual General Meeting
Annual General Meeting We l c o m e S h a re ow n e r s M a y 1 3 th, 2 0 2 5
Slide 2: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer Statements made by representatives of AKITA and information provided in AKITA’s AGM presentation may be considered forward- looking statements. By their nature, such statements are subject to numerous known and unknown risks and uncertainties and therefore actua
Slide 3: Chairman's Introduction
Chairman’s Introduction By Linda Southern-Heathcott
Slide 4: Election of Directors
Election of Directors Nine directors, as set out in the March 5, 2025, Management Information Circular, have been nominated for a one-year term. Upon election, each director will hold office until the next annual meeting of shareholders or until a successor is elected or appointed. The Board recomme
Slide 5: Appointment of Auditor
Appointment of Auditor The Board, on the recommendation of the Audit Committee, proposes that PricewaterhouseCoopers LLP (“PwC”) be appointed as auditor to hold office until the next annual meeting of shareholders. PwC and its predecessor firm, Price Waterhouse LLP, has been AKITA’s auditor since th
Slide 6: President and CEO Message by Colin Dease
President and CEO Message by Colin Dease
Slide 7: Historical Context
Historical Context • United States Division – Xtreme Acquisition 2018 • Fleet Consolidation • High-grade Personnel • Improve Processes • Canadian Division • Reinvigorated by high activity • Executing on gas transition
Slide 8: 2024 Results and Achievements
2024 RESULTS AND ACHIEVEMENTS • $20 Million in Debt Reduction • Strong Activity in Both Divisions • Improved Operational Performance
Slide 9: Vice President Finance & CFO Financial Overview
Vice President Finance & CFO Financial Overview by Darcy Reynolds
Slide 10: 2024 Results
2024 Results For the year ended December 31 2024 2023 Net Income (Loss) $12,863,000 $18,415,000 Funds Flow From Operations $44,714,000 $45,522,000 Capital Spending $28,043,000 $24,592,000 Debt $49,583,000 $69,524,000 Operating Days 5,744 6,092 Net Income Revenue 12,000 70,000 2,000 10,000 1,800 60,0
Slide 11: Q1 2025 Results
Q1 2025 Results For the three months ended March 31, 2025 2024 Net Income (Loss) $8,632,000 $2,627,000 Funds Flow From Operations $17,029,000 $11,260,000 Capital Spending $7,008,000 $3,935,000 Total Debt $51,467,000 $69,610,000 Operating Days 1,847 1,368 Canada United States 45,000 16,000 45,000 16,
Slide 12: 2025 Uncertainties
2025 Uncertainties 1. Tariff Turbulence 2. Recession Fears 3. Increased OPEC Supply 4. Weaker WTI Price
Slide 13: 2025 Corporate Objectives
2025 Corporate Objectives • Debt reduction between $15 to $20 million; • Protect US Activity • Strategic Fleet Realignment in Canada
Slide 14: First Nation and Métis Joint Venture Partners
First Nation and Métis Joint Venture Partners
Slide 15: Slide 15