Progress energy resources corp. cibc new york mini conference no-appendix

CIBC New York Mini-Conference Daniel Topolinsky, Executive Vice President Exploration & Development October 4th, 2011 New York, New York

[object Object],[object Object],Advisory on Future Oriented Information Page 1

[object Object],[object Object],Page 2 Advisory on Future Oriented Information

Corporate Overview TSX: PRQ Current production capability ~45,000 boe/d Production split 87% natural gas, 8% NGLs, 5% light oil Common shares outstanding 229 MM, 234 MM F.D. Bank debt at June 30, 2011 nil Convertible debentures $475 Million Dividend $0.40 per share per year ~3.5% yield Enterprise value @ September 2011 $3.3 Billion Directors, Mgmt & Employees 7% of direct, 10% F.D. Tax pools ~$2.2 Billion

A New Era of Growth ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Vancouver Calgary Foothills Deep Basin

Tight Gas - NW Alberta Deep Basin Premier Part of the Basin

Ownership and Access to Infrastructure

Greater Gold Creek Premier Area of the Deep Basin ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

NW Alberta Deep Basin Geological Setting

Multi-zone Potential 1,300m of Stacked Zones

Nikanassin Potential Stacked Channels ,[object Object],[object Object],[object Object],[object Object]

Greater Gold Creek – Natural Gas Top Tier Economics Typical Gold Creek Well Drilling Cost ($K) 1,100 Completion Cost ($K) 900 Equip & Tie-in Cost ($K) 300 Total Well Cost ($K) 2,300 Typical IP (mmcf/d) 1.8 Typical EUR (bcf) 2.0 ROR at $5.00/GJ flat (%) 64 PIR at $5.00/GJ flat 1.0 Production Cost ($K/boepd) 7.30 Half-cycle F&D Cost ($/boe) 6.90

Emerging Deep Basin Opportunity Dunvegan Light Oil 24 miles ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Emerging Deep Basin Opportunity Dunvegan Light Oil ,[object Object],[object Object],[object Object],[object Object],39 KM Oil Prone Fairway Gas Prone Fairway Conventional Trap

Emerging Deep Basin Opportunity Dunvegan Channel Well 1475 m 1500 m 24 m of Oil pay 1460 m ,[object Object]

Emerging Deep Basin Opportunity Dunvegan Channel Well ,[object Object],[object Object],[object Object],Dunvegan Daily Rates

Deep Basin - Emerging Montney Play Progress 140,000 net Montney acres CONOCO AND ENCANA ACTIVITY DAYLIGHT TEST – 9.1 mmcf/d NUVISTA HZl TESTED AT 7.0 mmcf/d PROGRESS VERTICAL TEST 0.7 mmcf/d PARAMOUNT 10 Hzls DRILLED PROGRESS VERTICAL MONTNEY DISCOVERY TOURMALINE 2 HZL up to 7.5 mmcf/d

Deep Basin Building Value for Shareholders ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Montney Drives “A New Era of Growth” ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Progress energy resources corp. cibc new york mini conference no-appendix

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