Logan Energy Corp · TSXV:LGN
Logan Energy — Investor Presentation (August 2025)
33 slides from Logan Energy's investor presentation, August 2025
Slide 1: A Differentiated Growth Company
A Differentiated Growth Company I N V E S T O R P R E S E N TAT I O N Mount Logan is Canada’s highest mountain and is named after Sir William Edmond Logan, a Canadian geologist and founder of the Geological Survey of Canada. It’s also AUGUST 2025 our namesake, as our mission is like an expedition. O
Slide 2: Corporate Overview: A Differentiated Growth Company
C O R P O R AT E O V E R V I E W A Differentiated Growth Company ABOUT LOGAN OUR ASSETS Montney Play Logan Energy Corp. LGN.V (“Logan”) is a growth-oriented oil and gas exploration, development BC AB Duvernay Play and production company formed through the spin-out of the early stage Montney assets o
Slide 3: Aligned and Proven Team with a Growth Plan to Deliver Compelling Equity Returns
I N V E S T M E N T R AT I O N A L Aligned and Proven Team with a Growth Plan to Deliver Compelling Equity Returns 1 2 3 Growth Plan Delivers Compelling Inventory Rich Assets at Strong Shareholder Alignment Risk Adjusted Equity Returns Attractive Valuation in Active and Track Record of Excess M&A Pl
Slide 4: Path to 24,000-27,000 boe/d
G ROW T H P L A N S U M M A RY Path to 24,000-27,000 boe/d I L L U S T R A T I V E G R O W T H P L A N (2) ASSET MATURITY 60,000 2028 Inventory Size 24,000 – 27,000 boe/d (2) Small appraisal contribution from Illustrative Duvernay growth plan, LGN Montney Assets 50,000 Duvernay and Flatrock only dep
Slide 5: Logan Offers Significant Rate of Change and Operational Leverage
BUDGET OVERVIEW Logan Offers Significant Rate of Change and Operational Leverage PRODUCTION OIL & CONDENSATE OPEX & TRANSPORT ADJUSTED FUNDS AFF PER SHARE GROWTH GROWTH UNIT COST REDUCTION FLOW (AFF) GROWTH R E D UC T IO N $20 $140 15,000 6,000 $0.25 62% 123% 93% $120 82% 5,000 $0.20 $15 $100 10,000
Slide 6: Building in the Premier Resource Play
THE MONTNEY Building in the Premier Resource Play BC AB T87 KEL ▪ High quality inventory depth is becoming scarce FLATROCK LGN LGN T85 ▪ The Montney offers: Kelt Exploration FSJ - Highly competitive play economics Arc Resources CEI T83 Tourmaline Oil - Scalable production growth Coelacanth - Signifi
Slide 7: Three Unique Montney Assets, Each Opportunity Rich
LOGAN’S MONTNEY ASSETS Three Unique Montney Assets, Each Opportunity Rich FLATROCK FLATROCK POUCE COUPE SIMONETTE ▪ Emerging undeveloped Montney property prospective for both gas Doig condensate and oil development ▪ High quality subsurface properties underpin asset potential ▪ Logan will methodical
Slide 8: New Platform for Growth and Value Creation
T H E D U V E R N AY New Platform for Growth and Value Creation Logan Duvernay Logan has assembled a 182 net section position within the Kaybob greater Kaybob Duvernay oil play, comprised of blocks located ANTE CREEK Logan 06-09-069-26W5 (Q3 Comp) in North Simonette, Ante Creek and Two Creeks that p
Slide 9: Three Duvernay Development Areas
L O G A N ’ S D U V E R N AY A S S E T S Three Duvernay Development Areas Sturgeon Area ANTE CREEK Logan Duvernay Assets ▪ Northern play extension situated in ideal fluid maturity window and good shale quality Logan Montney Assets ▪ Situated in the oil window with thickness of ~16m and high pressure
Slide 10: Logan's Land Base is Equivalent in Size to Many Producers
L A N D E X PA N S I O N Logan's Land Base is Equivalent in Size to Many Producers 10x Logan's Production MONTNEY D U V E R N AY Net Sections Net Sections 13th Largest Overall Montney Land Holder 11th Largest Overall Duvernay Land Holder Logan seeks to continuously expand and optimize its land base
Slide 11: 2025 Budget Delivers 62% Production Growth
B U D G E T D E TA I L S 2025 Budget Delivers 62% Production Growth 2025E Guidance 2024 Actual Change Amount % ▪ $201MM budget for 2025 to deliver material liquids growth and drive class leading Production Crude Oil and Condensate boe/d 4,805 2,485 2,320 93% cashflow growth while investing heavily i
Slide 12: Early-Stage Reserve Bookings with Significant Room for Growth
RESERVES Early-Stage Reserve Bookings with Significant Room for Growth (YE24) VOLUMES VALUE INVENTORY 120 $800 92% 350 42% $700 300 >25 years 100 $600 BTAX NPV10 ($MM) 250 Number of Locations 80 Reserves (MMboe) $500 45% 200 104% 60 $400 80% unbooked 150 $300 >15 years 100% 40 unbooked 100 64% 98% $
Slide 13: Management Team and Independent Board of Directors
LOGAN TEAM Management Team and Independent Board of Directors MANAGEMENT TEAM Richard McHardy ▪ Chairman of Spartan Delta, former President, CEO and Director of Spartan Energy, Spartan Oil, and Spartan Exploration and President and Director of Titan Exploration CEO Brendan Paton, P.Eng. ▪ Former VP,
Slide 14: We are Builders: Substantial Value can be Created Section by Section
S P A R T A N D E LTA M O N T N E Y L O O K B A C K We are Builders: Substantial Value can be Created Section by Section LAND POSITION ASSEMBLY OPERATIONAL EXECUTION ▪ Aggressively built out the Spartan Gold Creek/Karr position through 12 opportunistic and creative deals ▪ Spartan grew production bo
Slide 15: Leadership has Generated Excess Returns Through Multiple Entities and Cycles
TRACK RECORD Leadership has Generated Excess Returns Through Multiple Entities and Cycles S PA R TA N S PA R TA N S PA R TA N S PA R TA N E X P L O R AT I O N OIL ENERGY D E LT A Period January 2010 to May 2011 June 2011 to January 2013 December 2013 to May 2018 December 2019 to June 2023 Equity Ret
Slide 16: Organic Growth Augmented by Strategic Acquisitions to Build a Quality Asset Base
S T R AT E G Y Organic Growth Augmented by Strategic Acquisitions to Build a Quality Asset Base 1 2 3 4 Grow our Assets Identify, Acquire and Execute with Cost Effective Capital Delineate High Quality Discipline Allocation with Inventory Conservative Leverage • Organic growth plan delivers 24,000- •
Slide 17: Appendix
Appendix
Slide 18: Considerable Rate-of-Change Throughout 2025
RECENT DEVELOPMENTS Considerable Rate-of-Change Throughout 2025 SIMONETTE H1 PROGRAM NOW ONSTREAM ▪ 6 gross (5 net) wells now onstream. Aggregate well performance is exceeding expectations; onstream delays impacted quarterly production. ▪ North Simonette 6-6 Pad: - Duvernay 13-12 IP30 of 1,503 boe/d
Slide 19: Pouce Coupe: Development Asset Transitioning to a Long-Life Free Cash Flow Engine
POUCE COUPE Development Asset Transitioning to a Long-Life Free Cash Flow Engine ASSET CHARACTERISTICS POUCE NORTH GAS CONDENSATE (MIDDLE/D1) NRM Fourth Creek T82 ▪ Low risk, high return development in Pouce South oil play segment ▪ Northern play segment defined by high porosity provides repeatable
Slide 20: Simonette: Core Growth Asset with Owned Infrastructure
SIMONETTE Core Growth Asset with Owned Infrastructure ASSET CHARACTERISTICS NORTH SIMONETTE OIL (MONTNEY & DUVERNAY) Prospective ▪ Opportunity rich asset with owned infrastructure that together present a ▪ Two Logan drilled modern design Middle Duvernay T65 compelling growth opportunity Montney oil
Slide 21: Flatrock: High Quality Subsurface Properties on Large Contiguous Undeveloped Land Base
F L AT RO C K High Quality Subsurface Properties on Large Contiguous Undeveloped Land Base ASSET CHARACTERISTICS ▪ Large contiguous land base - Over 55,000 acres all 100% WI with no encumbrances - Good year-round access primarily from freehold surfaces, outside Blueberry River First Nations high val
Slide 22: Well Positioned For Growth
EGRESS, MARKETING & HEDGING Well Positioned For Growth GAS MARKETING & EGRESS Flatrock Fort St John ▪ Logan has contracted gas egress that supports it growth plan Pouce - Logan has ~50 mmcf/d of current firm transport service on NGTL Coupe - Additional 59.3 mmcf/d of firm transport service on NGTL b
Slide 23: Our Competitive Advantage
LOGAN ETHOS Our Competitive Advantage Technical Leaders Focused Execution and Entrepreneurially Driven Cost Discipline Highly technical team with a proven track An ownership mindset towards cost reductions Team is aligned through significant equity record of identifying high quality, yet and consist
Slide 24: Every Spartan Delta Equity Financing Significantly Outperformed the Index
TRACK RECORD Every Spartan Delta Equity Financing Significantly Outperformed the Index DECEMBER 2019 MAY 2020 MARCH 2021 AUGUST 2021 $25 million at $64 million at $124 million at $150 million at $1.00 per Share $2.00 per Share $4.35 per Share $5.05 per Share Founding Financing Bellatrix Asset Acquis
Slide 25: Historical Financial and Operating Highlights
H I S T O R I C A L F I N A N C I A L A N D O P E R AT I N G H I G H L I G H T S FY 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Q1 2025 Q2 2025 Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Production Crude Oil and Condensate boe/d 1,325 2,047 2,371 2,998 2,519 2,485 3,078 4,510 N
Slide 26: Partial Infrastructure and GORR Sale for $43MM Cash Proceeds
S T R AT E G I C D I S P O S I T I O N S E N H A N C E L O G A N ’ S F I N A N C I A L F L E X I B I L I T Y Partial Infrastructure and GORR Sale for $43MM Cash Proceeds INFRASTRUCTURE SALE OVERVIEW ▪ On May 30, 2025, Logan closed the sale of a 35% non-operated working interest in the 4-19 Pouce Fac
Slide 27: Strategic Acquisition Further Enhances Logan's High Return Growth Plan
SIMONETTE ASSET ACQUISITION OVERVIEW (DECEMBER 2024) Strategic Acquisition Further Enhances Logan’s High Return Growth Plan ACQUISITION OVERVIEW On December 17, 2024, Logan closed the acquisition of an operated 50% working interest of Gran Tierra’s Simonette asset and a 100% interest in certain Simo
Slide 28: Corporate Information and Analyst Coverage
C O R P O R AT E I N F O R M AT I O N A N A LY S T C O V E R A G E EXECUTIVE OFFICE STOCK EXCHANGE LISTING INSTITUTION ANALYST Logan Energy Corp. The TSX Venture Exchange Calgary Place II Trading Symbol: LGN BMO Capital Markets Jeremy McCrea 900, 355 4 Avenue SW CIBC Capital Markets Chris Thompson C
Slide 29: Disclaimer
DISCLAIMER Forward-Looking Statements Forward-Looking Statements (Continued) ▪ Certain statements contained within this presentation constitute forward-looking statements within the meaning of applicable ▪ (continued from previous column) and severe weather events and natural disasters, such as fire
Slide 30: Disclaimer: Oil and Gas Advisories
DISCLAIMER Oil and Gas Advisories ▪ BOE Disclosure. The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A BOE ▪ Unbooked locations are internal estimates prepared effective as of August 12, 2025 by a member of management who is conversion ratio of six tho
Slide 31: Disclaimer: Non-GAAP Measures and Ratios
DISCLAIMER Non-GAAP Measures and Ratios ▪ This presentation contains certain financial measures and ratios, as described below, which do not have standardized ▪ "Net Debt (Surplus)" includes bank debt (if any) outstanding under Logan’s credit facility, net of Adjusted Working meanings prescribed by
Slide 32: Abbreviations & Definitions
A B B R E V I AT I O N S & D E F I N I T I O N S A&D Acquisitions and Dispositions mmboe Million barrels of oil equivalent AECO Alberta Energy Company "C" Meter Stations of the NOVA Pipeline System mmboe/sec Million barrels of oil equivalent per section AFF Adjusted Funds Flow mmbtu; mmbtu/d Metric
Slide 33: www.loganenergycorp.com
14-17 Pad Drilling 6-18 Multi-well Pad 4-19 Pouce Facility www.loganenergycorp.com