BOE Report

Bonterra Energy Corp. Property Divestiture – Trimble Energy Group Offering

Property Divestiture

BID DEADLINE: OCTOBER 10, 2024 AT 4:00 PM MST

Bonterra Energy Corp. (“Bonterra”, or the “Company”) has retained Trimble Energy Group as its exclusive financial advisor and agent to assist with the marketing of its non-core oil & natural gas properties located in various areas of Alberta, Saskatchewan and Manitoba (the “Properties”).

DIVESTITURE OVERVIEW

  • Recent production of 104 boe/d, consisting of 89 bbl/d of oil & condensate, 4 bbl/d of natural gas liquids and 62 Mcf/d of natural gas located in various areas within Alberta, Saskatchewan and Manitoba. All packages have a stable, predictable production profile.
  • The offering is being separated into 5 general packages: W1 & W2 Package, W3 Package, W4 Package, Harmattan Package, and the Voyager Partnership Package (varying interests in W1, W2 & W4).
  • Includes all operated and non-operated working interests, unit interests and certain royalty interests.
  • Current net operating income (“NOI”) from the Properties of approximately $1.24 million annualized.
  • Estimated proved developed producing (“PDP”) reserves of 295.5 Mboe, 314.6 Mboe of Total Proved and 398.8 Mboe on a 2P basis with before-tax NPVs of $5.7 million, $6.1 million and $7.1 million respectively at a 10% discount rate as of December 31, 2023, based on December 31, 2023 average pricing.
  • All of the packages have a relatively long reserve life index with an aggregate RLI of 7.8 years on a PDP basis and 10.5 years on a 2P basis.
  • Unbooked drilling upside in SE Saskatchewan (Midale, Frobisher & Lower Watrous) and in the Viking Formation at Redwater (W4 Assets).
  • Undeveloped land located in various areas of the Western Canadian Sedimentary Basin.

For more information visit Trimble Energy Group’s website at www.trimbleenergygroup.com or contact Ryan Ferguson Young, Executive Vice President of TEG at Ryan@trimbleenergygroup.com or
(403) 615-2975.