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BLACKDOG RESOURCES LTD. “BE aWARE of DOG”

BLACKDOG RESOURCES LTD. “BE aWARE of DOG”. SEPAC PRESENTATION November 5, 2007. Forward Looking Statements.

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BLACKDOG RESOURCES LTD. “BE aWARE of DOG”

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  1. BLACKDOG RESOURCES LTD.“BE aWARE of DOG” SEPAC PRESENTATION November 5, 2007 BE aWARE of DOG November 5, 2007

  2. Forward Looking Statements This corporate update and presentation contains statements about future events that are forward looking in nature, and as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management. BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 MCF: 1 BBL is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. BE aWARE of DOG November 5, 2007

  3. BLACKDOG RESOURCES LTD. • Founded in September, 2004 to exploit oil and gas opportunities in WCSB using non traditional oil patch thinking • Unrelenting focus on business fundamentals and cost containment first, oil and gas technical evaluation second • Key strategy to leverage capital investment via purchase of overlooked unloved but valuable production assets and strategic capital deployment through drill bit. • Very limited capital investment towards land, full time technical employees, office space, overhead. In short we spend our investors money in the ground. BE aWARE of DOG November 5, 2007

  4. BOARD OF DIRECTORS • DAVID A. CORCORAN – PRESIDENT AND CEO - Diversified business background and skill-set allows Blackdog to be run as one-man shop, eliminating duplication of all tasks • GEORGE J. HILL - EXECUTIVE CHAIRMAN AND DIRECTOR - 30 plus years of patch experience with pubic and private entities (Enterra, Bighorn, Ryan Energy, and others) • T. W. (TIM) MORGAN - LEAD DIRECTOR - founded WestJet Airlines Ltd. • DR. GARTH VON HAGEN - DIRECTOR - former director of CV Technologies • DARCY MORGAN - DIRECTOR - software supplier to oil and gas industry since 1998 • LINDA LEGERE-TETZLAFF - CHIEF FINANCIAL OFFICER - 13 years at Price Waterhouse Coopers BE aWARE of DOG November 5, 2007

  5. Snapshot November 1, 2007 BE aWARE of DOG November 5, 2007

  6. PROPERTIES Gold Creek (19%) 1 well to be drilled Nov 07 Breton (15%) 1 natural gas well producing 4 additional wells planned Gold Creek Whitebear (100%) 5 light oil wells 1 horizontal re-entry being evaluated Breton Crystal (15%) 1 natural gas well producing 2 additional wells planned Crystal Whitebear Harmattan Harmattan (15%) 1 natural gas well producing 1 additional well planned BE aWARE of DOG November 5, 2007

  7. EXISTING PRODUCTION • Whitebear, Saskatchewan - Blackdog has a 100% interest in a 30 BOPD light oil property near Carlyle, Saskatchewan. The property has 5 wells , 4 of which are in production, one of which is off-line until Spring 2008. At WTI prices of $75 U.S, the property cash flows over $30K per month to Blackdog. The wells have low decline rates and are expecting to continue at or near this rate for 2008. • Pembina (Crystal 2-6 well) – Blackdog has a 15% interest in a natural gas and liquid-rich exploration well that was drilled in October 2006. After lengthy delays the well was put on line on October 4, 2007 at initial rates of 1.4 MMcf/day and 40 boepd liquids. This nets 40 boepd to Blackdog. • Pembina (Breton 3-29 well) – Blackdog has a 15% interest in a natural gas and liquid rich exploration well that was drilled in November, 2006. After lengthy delays the wells was put on line on October 9, 2007 at initial rates of 1.0 MMcf/day and 30 barrels of liquids. This nets 30 boepd to Blackdog. • Harmattan (6-22 well) - Blackdog has a 15% interest in a natural gas and liquid-rich exploration well that was drilled in December 2006. The well commenced production in June, 2007 and has averaged .35 MMCF/day and 6 barrels of liquids per day. This nets 10 boepd to Blackdog. BE aWARE of DOG November 5, 2007

  8. BE aWARE of DOG November 5, 2007

  9. CURRENT MARKET TRENDS • JUNIOR OIL AND GAS SECTOR IN CHAOS • TOO MUCH DEBT • NO ACCESS TO CAPITAL • LAND EXPIRATIONS EVERYWHERE • OUT OF CONTROL OVERHEARD • LOW NATURAL GAS PRICES • NET EFFECT “WALKING THE GREEN MILE” • DRILLING COSTS DROPPING LIKE A ROCK – 15-20% LESS THAN Q4 2006 • RIG UTILIZATION LESS THAN 40% • BIG BOYS SITTING OUT WINTER DRILLING SEASON • FARM-IN TERMS IMPROVING BIGTIME – BETTER DEALS/ BETTER RATES • LA NINA EFFECT – POTENTIAL COLDEST WINTER SINCE 2000 LIES AHEAD • NATURAL GAS PRODUCTION DECLINING IN WCSB BY 15% IN 2009 • ROYALTY EFFECT HAS PARALYSED INDUSTRY • OVERALL THESE FORCES PROVIDE BLACKDOG WITH THE PERFECT STORM OF CIRCUMSTANCES TO GROW THE COMPANY QUICKER, CHEAPER AND WITH BETTER QUALITY DEALS THAN ORIGINALLY ENVISIONED BE aWARE of DOG November 5, 2007

  10. BLACKDOG Q4, 2007 DRILLING PROGRAM PEACE RIVER ARCH - Blackdog has signed a farm-in agreement to participate in the drilling of a development well in the Gold Creek area. Blackdog will pay 25% of all costs to completion or abandonment to earn a 19% interest. An offset well to the target well by the same operator drilled in Q4, 2006 tested at 700 boepd of natural gas and liquid-rich fluids. The well is scheduled to be drilled in November 2007. Infrastructure in place for immediate tie-in. PEMBINA (CRYSTAL) - Blackdog has signed a farm-in agreement to participate in the drilling of an exploration well in Pembina (Crystal) area nears its 2-6 Crystal well. Under the terms of the farm in Blackdog will pay 20% of all cost to completion or abandonment to earn a 12% interest in two sections of land. The first well is scheduled to be drilled in Q4, 2007 with a follow-up well on the earned lands scheduled to be drilled in Q1, 2008. Infrastructure in place for immediate tie-in. BE aWARE of DOG November 5, 2007

  11. 2008 Drilling Opportunities Peace River Arch – Blackdog is investigating several high impact Peace River Arch opportunities both near its Gold Creek 15-2 well and in other areas. It is possible one of these opportunities might be advanced to Q4, 2007. Pembina - Blackdog has up to 9 targets identified for drilling in 2008 in Pembina. Some wells will be in areas where Blackdog owns lands and others will be under new farm ins under negotiation. All wells will be in areas with existing infrastructure and capacity in place for quick tie in if successful. Blackdog anticipates drilling 3-4 in Q1, 2008 alone in this area. Whitebear, Saskatchewan - Blackdog has been in discussions with a third party about using one of Blackdog’s wells to drill a horizontal well into a potential new pool on our Whitebear property. This could occur by Q2 2008. The WCSB is our oyster- Blackdog continues to look at multiple deals and projects within the WCSB. With the ongoing carnage of our competitors we are positioned and ready to pounce at anytime if the deal is right. BE aWARE of DOG November 5, 2007

  12. CASH REQUIREMENT FOR 2008 Blackdog plans to grow cash flow to $500k per month by Q1, 2009. Several financing alternative are under consideration to supplement our internal cash flow. Q4 2007 Flow-Through Financing(FTS) - Dependent on share price. - Will not dilute at current prices. 12 Q4 2007 Non Flow-Through Financing - Many investors provided feedback to us last year that they wanted to invest but did not need FTS. Debt Financing - Blackdog has been in discussions with banks to obtain an operating line between $500k - $1000K. Blackdog prefers to remain debt free but will use this option versus too dilutive of an equity financing. Internal Cash Flow - Blackdog anticipates that cash flow in Q1 2008 will increase to $200K+ per month. If so, the corporation could forgo all financings if satisfactory terms are not available and grow via internal cash flow. BE aWARE of DOG November 5, 2007

  13. PROMOTIONAL PLANS FOR Q4, 2007 “TIME TO TURN UP THE HEAT AND LET THE DOG HUNT” • Multiple brokerage presentations planned for Calgary, Vancouver, Edmonton, Kelowna • Full page ad in Calgary Herald SEPAC pullout on October 30, 2007 • Presenting at SEPAC, November 5, 2007 at 1:25 p.m.at the Westin in Calgary • Negotiating with multiple Investor Relations firmsfor Q1, 2008 rollout • Share buyback under immediate consideration • Marketing package being prepared for Flow Through LP Funds (feedback is that they cannot fill their books at this time) BE aWARE of DOG November 5, 2007

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