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Vero Energy Inc
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Corporate Profile, May 2008
| Doug Bartole, P.Eng | Page 1 of 11 |
April 30, 2024
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"Corporate Profile, May 2008"
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5,77 1 5,2 4 1 4,8 6 5 4,2 9 0 4,4 3 0 3,3 0 1 2,7 1 3 2,3 5 0 1,4 2 7 98 0 173 167 155 137 157 117 96 84 56 48 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 Q4 05 Q1 06 Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 0 20 40 60 80 100 120 140 160 180 200 Production (boe/d) Production per share (boed/mm shares) • Q1 2008 average daily production was 5770 boe/d (79% natural gas) • Q1 debt $47mm on $90mm bank line • Shares outstanding (basic/FD) 32.7mm/35.2mm • Management & Insiders (basic/FD) 9%/14% • Market cap (basic) - $310 million @ $9.48 • 52 week share price range of $5.30 to $9.80 Current Snapshot • Highly technical team, spending capital efficiently • Focused on per share growth • Operate and control majority of projects • Expand existing core areas in Alberta and pursue new areas in Western Canada • Maintain ample supply of profitable projects and 2+ years of drilling inventory • Low controllable costs, $8.02/boe in Q1 2008, top decile versus comparable peers • Stick to our core strengths, the basics of the oil and gas industry – Geology, Engineering and Operations • Continue to be leaders in technology Long Term Strategy One of the top junior performers in last 2.5 years since inception • 489% increase in production • 260% increase in production per share • 269% increase in producing reserves per share • 119% increase in proved plus probable reserves per share Top decile finding, development, and acquisition costs • 2007: $11.37/boe, 62% better than peers • 3 year average, $16.23/boe, 28% better than peers Top decile returns • Recycle ratios 2007: 2.1times, 33% better than peers 3 year average: 1.6 times, 19% better than peers • Return on capital employed: 15+% versus single digits for peers M A Y 2 0 0 8 A growth oriented junior oil & gas company 0 100 200 300 400 500 Proved developed producing Total proved Proved plus probable 2005 2006 2007 236 184 54 118 214 306 168 288 426 Reserves (boe per 000 shares) +241% +28% +81% +43% +71% +48% Highlights