Vital Energy Inc. · TSXV:VUX

Vital Energy — Investor Presentation (October 2014)

17 slides from Vital Energy's investor presentation, October 2014

1. Slide 1: Vital Energy Inc. October 2014

   V Vital Energy Inc. Suite 500, 940-6th Avenue S.W. Calgary, Alberta T2P 3T1 Tel: 403-699-9668 Fax:403-699-9660 Vital Energy Inc. Website: www.cenoenergy.ca Colors : CMYK 0:0:0:100 RGB: 0:0:0 CMYK 67:56: 51:8 RGB: 74:80:82 CMYK 0:100:100:0 RGB: 204:3:30 CMYK 1:7:93:1 RGB: 248:217:40 Fonts: Geneva and

2. Slide 2: Safe Harbour Statement

   Safe Harbour Statement This presenta,on contains forward-­‐looking statements including expecta,ons of future produc,on, cash flow and earnings. These statements are based on current expecta,ons that involve a number of risks and uncertain,es, which could cause actual results to differ from those an,c

3. Slide 3: Introduction

   Introduction Vital Energy Inc. (formerly CENO Energy Ltd.) is a public junior oil and gas company based in Calgary, Alberta, focused on conven@onal crude oil explora@on, development and produc@on in Western Canada. Vital has acquired a large petroleum land base of low to medium risk projects. Vital

4. Slide 4: Corporate History

   Corporate History 2006: Ceno was founded as a private company. 2014: Amalgamated with Sundance Energy Corpora@on combined with a $10 million equity financing and a public lis@ng on the TSX.V stock exchange; changed name to Vital Energy Inc. in September 2014 (“VUX” trading symbol). V Vital Energy Inc

5. Slide 5: Management and Directors

   Management and Directors Zhouliang (Nick) Zhang (PhD, P.Geol.) – Director and Chief Execu,ve Officer -­‐ Geologist with over 20 years of oil and gas explora@on and development experience with interna@onal majors including Shell, BP and Apache. Mr. Zhang was a co-­‐founder of Ceno/Vital. Jeffrey Standen

6. Slide 6: Assets – Petroleum Lands

   Assets – Petroleum Lands Vital’s projects are located in three carefully selected core development areas in the provinces of Alberta and North Saskatchewan: AB light oil • medium oil assets in southern assets Alberta/Sask. • Light oil assets in north-­‐central Alberta. • Heavy oil assets in Lloydmin

7. Slide 7: Producing Assets

   Producing Assets Oil Produc,on § Vital produces oil from the Gull Lake, Baxter Lake, Standard Hill and Hayter areas. § Oil produc@on is currently around 100 bbl/d and is projected to grow to approximately 600 bbls/d by the end of the 2nd Quarter of 2015 through an extensive drilling program focuse

8. Slide 8: Gull Lake Project – S.W. Saskatchewan

   Gull Lake Project – S.W. Saskatchewan § Jurassic and Cretaceous oil plays in the Roseray, Upper Shaunavon and Cantaur forma@ons. § Proven plays produce medium (17-­‐24 API) oil at high rates from rela@vely shallow depths and at low opera@onal costs. § Ver@cally stacked pays help reduce risks and

9. Slide 9: Gull Lake Project – S.W. Saskatchewan

   Gull Lake Project – S.W. Saskatchewan § 2.56 sec@ons (1,638 acres) land with P&NG rights from surface to basement 3D § 4 Producing wells from Jurassic Roseray Seismic Forma@on at 1,000 to 1,100 m depth § Minimum 10 more drilling loca@ons targe@ng three forma@ons, iden@fied based on new 3D seismic.

10. Slide 10: Penant Project – S.W. Saskatchewan

    Penant Project – S.W. Saskatchewan § Main target zone is Upper Shaunavon Battrum Roseray (USHV), secondary target Lower Pool Shaunavon (LRSV). 338 prod wells, 113 mmbbl cum. oil production since 1955 § Land sits up-­‐dip on extension of a proven NW-­‐SE trending USHV @dal channel produc@on trend.

11. Slide 11: Baxter Lake Project – East Alberta

    Baxter Lake Project – East Alberta § Heavy oil (API 16O) is produced from sandstones of the Sparky Forma@on § 6 more drilling loca@ons have been iden@fied to further expand oil produc@on § Water injec@on project is planned to enhance recovery and improve economics § Pursuing a farm-­‐out arrangem

12. Slide 12: Panny Project – “Step Out” Drilling Central Alberta

    Panny Project – “Step Out” Drilling Central Alberta • 13 sec@ons of land with PNG from surface to basement • Proven Keg River produc@on within and around the property • Very light sweet crude oil (API 39) from rela@vely shallow depth (1,100m) • Up-­‐hole poten@al including Slave Point Forma@on • Clo

13. Slide 13: Sturgeon Lake Project – Alberta Exploration

    Sturgeon Lake Project – Alberta Exploration § Vital has a large land base (22.4 sec@ons) in Sturgeon 5728ha (22.4 sec@ons) Lake area of AB siqng on extension of proven Leduc PNG below base NRDG produc@on trends. § Leduc reef carbonates show very high oil produc@vity; single well oil produc@on can

14. Slide 14: Kidney Project – Alberta Exploration

    Kidney Project – Alberta Exploration • 1,230 acres over all of the land in T89R6W5with P&NG from surface to basement • Keg River Dolomites as main target and Slave Point and Granite Wash as Existing secondary targets Keg River prod wells • Very light sweet crude oil (API 41) from rela@vely shallow d

15. Slide 15: Vital’s Forecast – 3-Year Plan (Base case)

    Vital’s Forecast – 3-Year Plan (Base case) Dec 31, 2014 June 30, 2015 Dec 31, 2016 Wells Drilled 5 15 5 Cap Ex ($MM) $2.0 $11.5 $2.0 Exit Produc@on (bbls/d) 250 600 1,000 Value per barrel $75,000 $75,000 $75,000 Exit Value ($MM) $19 $45 $75 Working Capital ($MM) $8 $7 $25 Enterprise Value 27 $52 $10

16. Slide 16: Summary

    Summary • Vital has extensive technical expertise as well as capability and experience for safe project execution and production operations. • A relatively large and balanced land base consisting of assets for heavy, medium and light oils will meet the company’s growth needs in the short and longer

17. Slide 17: Corporate Information

    Corporate Information Vital Energy Inc. Address: - Suite #500, 940 6th Avenue S.W. Calgary, AB, T2P 3T1 Contact: - Jeffrey Standen, President Phone: - Bus. (403) 699-9668; Cell (403) 615-5827 Email: - jstanden@vitalenergyoil.com Website: - www.vitalenergyoil.com Public Listing: - “VUX”-TSX-V (Toront

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