Transcription of Granite Oil Corp. - cormark.com
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Granite Oil Corp. - cormark.com
PROCESS OVERVIEWSNAPSHOTP roduction (March 2018)2,210 boe/d (97% oil)Operating Netback (2017)$ +P Reserves(3) MMboe (83% oil)AER Estimated OOIP(1) MMbblsEstimated EOR Pool OOIP(2) MMbblsDeveloped/Undeveloped Land(5)74,382/64,915 acresLMR (April 2018) Oil Alternatives Process | Overview MemorandumApril 2018 Granite Oil Corp. ( Granite or the Company ) has initiated a formal process to review potential strategic alternativesin an effort to enhance shareholder value. Such strategic alternatives may include, but are not limited to, a sale ormerger of the Company or other form of business combination; a sale or joint venture involving all or a portion of theassets; a recapitalization of the Company or other form of strategic investment; or the purchase of assets Granite has retained Cormark Securities Inc.
• Granite’s early life-cycle Alberta Bakken pool has transitioned into a sustainable, long-life EOR project • EOR project implemented in 2015 has resulted in significant improvements to capital and oil recovery efficiencies(1): • 78% reduction in annual capital spending; 70% reduction in annual lateral meters drilled; PDP Reserves growth of
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