spyglass resources corp.pembina)-teaser.pdf · pembina property divestiture package spyglass...
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PEMBINA PROPERTY DIVESTITURE PACKAGE
Spyglass Resources Corp. is offering for sale oil and gas producing properties located in the Pembina area of West Central Alberta. This area includes properties in Pembina, Brazeau, Peco, Caroline, Willesden Green and Wilson Creek. A number of Cardium horizontal development oil well locations are identified in the main Pembina property. Presently, Spyglass has 9 PUD and 3 PA locations booked in the Pembina, Pembina Other, and Brazeau areas. Other prospective targets on the properties are the Mannville, Bluesky-Gething, Wilrich, Rock Creek and Nordegg Formations. A Belly River horizontal oil opportunity is currently being developed at Peco. Production for August 2013 stood at 228 bbl/d oil, 827 mcf/d gas, 28 bbl/d NGL for a total of 395 boepd, at a 65% oil and liquids weighting. Total Company share 2P booked reserves for the area are 2,262 Mboe consisting of 1,165 Mbbl oil, 5,581 MMcf gas, and 168 Mbbl NGL. PDP NPV @ 10% is $ 18,798 M; TP is $ 24,506 M; P+P is $40,581M.
Spyglass Resources Corp.Pembina Netback Summary (Working Interest only)
C$000's except per bbl figures
Field Operating Netbacks 12 Months Ended
C$000's except per bbl figures August 31, 2013
Daily Oil and Natural Gas ProductionCrude Oil (bbl/d) 249
NGL (bbl/d) 39
Natural Gas (Mcf/d) 886
Total Oil Equivalent (boe/d) 436
% Liquids 66%
Field Operating IncomeTotal Revenue (net transportation) 9,482
Royalties (2,335)
Operating Expense (2,950)
Field Operating Income 4,197$
Netbacks ($/boe)Revenue 59.63$
Royalties (14.68)
% Burden 25%
Operating Expenses (18.55)
Field Operating Netback 26.39$
Spyglass West Central (Pembina)
Reserves and Values as of December 31, 2012
Company Share Reserves NPV @ 10%
PDP TP P+P PDP TP P+POil Gas NGL Total Oil Gas NGL Total Oil Gas NGL Total
Mbbl MMcf Mbbl Mboe Mbbl MMcf Mbbl Mboe Mbbl MMcf Mbbl Mboe M$ M$ M$
Total 503 1,804 59 862 690 2,981 83 1,269 1,165 5,581 168 2,262 18,798 24,506 40,581
Pembina Acreage SummaryGross Acres Undeveloped 30,400
Developed 25,013
Total Gross Acres 55,413
Net Acres Undeveloped 15,220
Developed 8,759
Total Net Acres 23,979
For further information, contact:
Kelly Cowan
Spyglass Resources Corp. Senior Vice President
Corporate Development & Land
403-930-3558
Dallas McConnell Spyglass Resources Corp.
Vice President Corporate Development
& Investor Relations 403-930-3572