FTI Consulting, Inc. · NYSE:FCN
FTI Consulting — Palliser Oil & Gas — Merger or Acquisition (May 2015)
10 slides from FTI Consulting's merger presentation, May 2015
Slide 1: Summary of Acquisition Opportunity
Summary of Acquisition Opportunity May 2015
Slide 2: Disclaimer
DISCLAIMER • FTI Consulting Canada Inc. (”FTI”) in its capacity as Receiver and Manager of Palliser Oil & Gas Corporation (“Palliser”) is soliciting offers for all of the assets of Palliser (the “Transaction” ). • All information contained in or enclosed with this document (unless otherwise stated h
Slide 3: Contents
CONTENTS PAGE 4 CORPORATE SUMMARY PAGE 5 CHOPS AND HVL PAGE 6 OPERATIONS OVERVIEW PAGE 7 HISTORICAL PRODUCTION AND CAPITAL PAGE 8 TAX POOL SUMMARY PAGE 9 PROCESS AND TIMELINE 3
Slide 4: Corporate Summary
CORPORATE SUMMARY High working interest and operatorship GREATER LLOYDMINSTER – CORE PROPERTIES Average 97% WI in heavy oil Average 65% WI in all lands December 2014 production base of ~1235 boe/d 98% Heavy Oil Average 83% WI in production Current estimated May 2015 production rates of
Slide 5: CHOPS and HVL – Doubling Heavy Oil Recoveries
CHOPS AND HVL – DOUBLING HEAVY OIL RECOVERIES CHOPS – DOUBLE TANK SYSTEM / SINGLE WELL BATTERY CHOPS typically recovers ~7-10% of original oil in place CHOPS wells are typically shut-in and abandoned due to high water cuts after primary recoveries are achieved HIGH VOLUME LIFT – INCREASES HEAVY
Slide 6: Operations Overview
OPERATIONS OVERVIEW FINANCIAL / OPERATING Tax Pools - September 30, 2014 (unaudited) $97 million Production - December 2014 1,235 boe/d (98% heavy oil) Projected May 2015 750 boe/d Undeveloped Land – May 2015 43,437 net acres Proved Reserves / BT PV10% - December 31, 2014 3,506 mboe $34.1 million P+
Slide 7: Historical Production & Capital
HISTORICAL PRODUCTION & CAPITAL PRODUCTION HISTORY CAPITAL EXPENDITURE HISTORY 7
Slide 8: Tax Pool Summary (Effective September 30, 2014 – Unaudited)
TAX POOL SUMMARY (EFFECTIVE SEPTEMBER 30, 2014 – UNAUDITED) Corporate Tax Pools UCC Class 8 $141,803 UCC Class 10 $143,022 UCC Class 45 $10,576 UCC Class 41 $27,185,275 COGPE $18,363,018 CDE $20,744,639 CEE $1,295,326 NCL $27,913,435 Share Issue Costs $1,183,129 Total $96,980,223 8
Slide 9: Process and Timeline
PROCESS AND TIMELINE Confidentiality Agreements • Additional information will be made available to those parties signing and returning a Confidentiality Agreement to Robert Kleebaum at [email protected]. Data Room Access • Upon receipt of a signed Confidentiality Agreement, all inter
Slide 10: Process and Timeline
PROCESS AND TIMELINE Timeline • The deadline for receipt of Letters of Interest (“LOI”) is 5:00 PM (MST) on Monday June 1, 2015. Upon receipt of LOI’s, the Receiver will develop a short list of parties who will be given the opportunity to submit a binding Offer of Purchase and Sale. Accordingly all
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