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Corridor Resources Inc
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January 2020 Corproate Presentation
| Steve Moran | Page 6 of 11 |
May 09, 2024
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"January 2020 Corproate Presentation "
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5 STRONG BALANCE SHEET AND FOUNDATION OF FREE CASH FLOW Why Corridor? The free cash flow profile and strong balance sheet with $110 million in cash provides a foundation to establish a leading Canadian energy producer • Uniquely positioned with positive adjusted working capital of $64.7 million • Low decline producing natural gas asset exposed to premium east coast pricing • Algonquin Basis pricing • Historically priced (and future hedgeable) at US$ NYMEX + US$4.00/mmbtu for December-March periods • At US$2.50 NYMEX, Corridor gas receives US$6.50/mmbtu (C$8.60/mmbtu) • Field based cashflow (2) of $7-9 million per year • Strong tax pool balance that can be utilized to shelter future earnings • Limited future ARO, corporation is clean with only $2 million of ARO not accounted for in the Independent Engineering report Tax Pools (as at Sep. 30, 2019) Algonquin Citygate (AGT-CG) vs. NYMEX (US$/mmbtu) (1) 1. Strip pricing as at December 31, 2019 2. See "Non-IFRS Measures" in Advisories. Canadian Exploration Expense (CEE) $mm $99.9 Canadian Development Expense (CDE) $mm $40.4 Other $mm $19.8 Total $mm $160.1 ($2.00) $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Gas Price ($US/mmbtu) AGT Differential NYMEX Henry Hub AGT-CG Yearly Avg. Price