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PMGNovemberPresentation

PMGNovemberPresentation

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Published by Devon Shire

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Categories:Business/Law, Finance
Published by: Devon Shire on Dec 28, 2011
Copyright:Attribution Non-commercial

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12/27/2012

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a unique opportunity
Corporate PresentationNovember 2011
 
Cautionary Statements
Statementsinthispresentationmaycontainforward-lookingstatementsincluding
management’s
assessmentof futureplans,operations,expectationsoffutureproductionandcapitalexpenditures.Informationconcerningreservesmayalsobedeemedtobeforward-lookingstatementsassuchestimatesinvolvetheimpliedassessmentthattheresourcesdescribedcanbeeconomicallyproduced.Thesestatementsarebasedoncurrentexpectationsthatinvolvenumerousrisksanduncertainties,whichwillcauseactualresultstodifferfromthoseanticipated.Theserisksinclude,butarenotlimitedto:therisksoftheoilandgasindustry(e.g.operationalrisksinexploration,developmentandproduction;potentialdelaysorchangesinplanswithrespecttoexplorationordevelopmentprojectsorcapitalexpenditures;theuncertaintyofreserveestimates;theuncertaintyofestimatesandprojectionsrelatingtoproduction,costsandexpenses,andhealth,safetyandenvironmentalrisks),fluctuationinforeigncurrencyexchangeratesandcommoditypricefluctuation.Asaconsequence,actualresultsmaydiffermateriallyfromthoseanticipatedintheforward-lookingstatements.Inaddition,theTHAI®/CAPRprocessesandothertechnologiesareearlystageandfutureresultsmaydifferfromthoseanticipated.ThispresentationcontainsfinancialtermsthatarenotconsideredmeasuresunderInternationalFinancialReportingStandards
(“IFRS”),
suchasfundsflowfromoperations,fundsflowpershareandoperatingnetback.Thesemeasuresarecommonlyutilizedintheoilandgasindustryandareconsideredinformativeformanagementandshareholders.Weevaluateourperformanceandthatofourbusinesssegmentsbasedoncashflowfromoperations.Fundsflowfromoperationsisanon-IFRStermthatrepresentscashgeneratedfromoperatingactivitiesbeforechangesinnon-cashworkingcapital.Managementconsidersfundsflowfromoperationsandfundsflowpershareimportantastheyhelpevaluateperformanceanddemonstratethe
Company’s
abilitytogeneratesufficientcashtofundfuturegrowthopportunitiesandrepaydebt.Operatingnetbackisdeterminedbydividingoilsaleslessroyalties,transportationandoperatingexpensesbysalesvolumeofproducedoil.Managementconsidersoperatingnetbackimportantasitisameasureofprofitabilityperbarrelsoldandreflectsthequalityofproduction.Fundsflowfromoperations,fundsflowpershareandoperatingnetbacksmaynotbecomparabletothosereportedbyothercompaniesnorshouldtheybeviewedasanalternativetocashflowfromoperations,netincomeorothermeasuresoffinancialperformancecalculatedinaccordancewithIFRS.TSX: PMG, BVC: PMGC |2
 
The Opportunity
Extensive, diversified drilling inventory
Applying a portfolio based approach to a growinginventory of over 100 prospects targeting multiple playconcepts2.0 million exploration acres in Colombia(100% WI) and 9.5 million gross acres(5.4 million net) in PeruAveraged 37,124 bopd in Q3 2011 attractingstrong operating netbacks of $61.11 per barrelSignificant production and reserves growth
Proven track recordHigh-impact explorationHigh-value production baseFully funded exploration programYield plus exploration upside
Strong balance sheet; $134 million of working capital surplusQuarterly dividend of C$0.125 per share ($50M per year)
TSX: PMG, BVC: PMGC |3

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