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Zargon Oil & Gas Ltd
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January 2020 Corporate Presentation
| Craig Hansen | Page 3 of 11 |
May 05, 2024
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"January 2020 Corporate Presentation"
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Zargon Key Investment Highlights 3 Oil Exploitation Focus • Zargon is an oil-weighted company focused on the exploitation of mature oil properties. • Following 2012-16 divestment programs, Zargon’s remaining operated oil reservoirs continue to be characterized by significant oil-in-place, low recovery factors and low oil production declines. Over its history, Zargon has raised $210 million of equity capital (excluding the recent debenture conversion) and paid out $367 million in dividends and distributions. Low Decline Oil Production • Zargon’s low corporate oil decline of less than 10% per year is enabled by reservoir pressure support from natural aquifers, waterfloods and tertiary floods. • Zargon’s high working interest ownership and operatorship in area batteries and facilities provides a scaling opportunity to profitably add/process operated or non-operated volumes with minimal additional costs. Oil Exploitation Opportunities • Zargon’s properties provide waterflood optimization opportunities plus exploitation drilling opportunities that enable improved reservoir recovery factors in existing pools. • The 2019 year-end McDaniel reserve report books 15 P+P exploitation locations with average per well parameters of 64 Mbbl oil reserves, 48 bbl/d initial rate and $1.03 MM all-in costs. Proactively Managed Abandonment and Reclamation Program • Zargon’s actively managed abandonment and reclamation program provides investor’s a “road map” for the management of future liabilities. In particular, Zargon participates in the Alberta Energy Regulator’s voluntary Area Based Closure program and in 2019 Zargon reduced its Canadian suspended well count by 16 percent (52 net wells) primarily through abandonments. As of January 4, 2020, Zargon’s Alberta LMR is 1.02. Little Bow ASP Project • At higher oil prices, the existing Alkaline Surfactant Polymer (“ASP”) infrastructure can be utilized to resume Alkaline Surfactant injections in high-graded areas and for multiple other ASP phases and Polymer only projects seeking a 10 percent incremental oil recovery on over 80 million barrels of working interest oil-in-place. Other Corporate Attributes • Zargon holds ~$204 million of high quality tax pools (December, 2019), includes $171 million of non-capital losses. • Zargon has retained a TSX listing, plus strong operating, accounting, land and finance capabilities, and can readily manage additional assets with minimal additional costs. Zargon is an Alberta and North Dakota medium gravity oil gas producer with exceptional torque to oil prices, in addition to offering development oil exploitation opportunities through development horizontal wells and a long term Southern Alberta tertiary recovery project.