Venturion Oil Limited - Corporate Sale 2018

Overview

Venturion Oil Limited (“Venturion”), a private Canadian oil and gas company, has retained BMO Capital Markets as its sole financial advisor to conduct a sale process for a corporate transaction.

  • 100% W.I. properties with 100% W.I. facilities and infrastructure
  • Simple, effective approach develops cash-flow generators
  • Bank credit facility recently increased to $100MM
  • Estimated March realized oil price of approximately $56/bbl
    • Improving realized price: $62.55/bbl on April 3 closing prices
  • Low-risk opportunities to add production and reserves
  • Increase of 2.3 MMbbl of TP and 2.6 MMbbl of TPP reserves in under six months (PDP increase of 1.8 MMbbl and PPDP increase of 2.7 MMbbl)
  • Geologically similar oil pools with large original oil-in-place (OOIP) volumes and low current recovery factors
  • Conventional waterflood oil pool production creates a multitude of opportunities to improve recovery factors and expand OOIP
  • Three new waterfloods implemented in the last year set up future development drilling; four-year inventory identified
  • Routine drilling can have exceptional results
    • Boundary Lake North 04-29-087-14W6 (02-31 surface) flowed at 1,000 bbl/d for six months with no frac
    • Killam 102/04-14-046-12W4: July 2017 well produced at 300 bbl/d flat for the first six months
  • Excellent liability management ratios (LMR) of 8.16 in Alberta and 5.50 in British Columbia

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