Blacksteel Energy

Creating shareholder value by developing low risk light oil assets in the Montney formation 

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Blacksteel Energy is an oil and gas producer focused on acquiring low risk assets that generate free cash flow

 

The acquisition of the Girouxville light oil Montney assets are consistent with Blacksteel's focus on acquiring low risk scalable growth assets.  This recent acquisition has the following merits:

- 30% interest

- OOIP of 65 million bbls of oil

- EUR/well is 224,000 boe but only assumes a 4% recovery factor

- IP30 average of 323 boe/d/well

- 72% rate of return, 2.4x recycle ratio, 1.2 year payback on Q3, 2016 price deck

- 60 identified drilling locations

- Waterflood 2 miles away on trend by another operator proving successful

- 17 horizontal wells drilled offsetting Blacksteel lands since September 2016

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Developing Shareholder Value