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Perpetual Energy Inc
April 2012 Company Presentation
| Susan L. Riddle Rose | Page 12 of 11 |
March 31, 2015
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"April 2012 Company Presentation"
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11 Base Legacy Assets – Conventional Shallow Gas Belly River Viking Grand Rapids Lower Mannville Pre Cretaceous Unconformity Extensive inventory to minimize production declines at industry-leading capital efficiencies ? East Central and Northeast Alberta ? Cretaceous and Devonian sweet shallow gas ? 65% of production base ? Base declines < 20% ? Multiple stacked zones and play types ? ~700 uphole recompletions awaiting depletion of producing zones ? Low cost production and reserves adds (<$10,000/BOE/d; <$1.00/Mcf) ? Typically ~150 recompletions per year ? 380+ new drill prospects ? Historical drilling success > 90% ? Seismic definition and step out of infrastructure drive prospects to drill ready ? Multi-zone drills generally convert to reserves in 1 or 2 zones with additional zones captured as uphole completions in prospect inventory ? ~10 -20 new drills per year - best return and strategic only ? Average well $0.4 MM D C & E ? Risked IP 300 Mcf/d; EUR 0.3 Bcf (<$25,000/BOE/d; <$1.77/Mcf)