CENTRAL ALBERTA ASSETS OPPORTUNITY

Cenovus Energy Inc. (“Cenovus”) has retained CIBC Capital Markets (“CIBC”) as its financial advisor in connection with the offering of selected assets in Central Alberta.


LOW DECLINE, LIQUIDS-WEIGHTED PRODUCTION BASE

  • Low decline production base
  • ~16.5 Mboe/d of liquids-weighted production (~50%), including royalty interest production of ~250 boe/d
  • Year-round access in close proximity to major service centers
  • Estimated Liability Management Rating (“LMR”) of 2.29

LARGE SCALE, LOW RISK, MULTI-ZONE OPPORTUNITIES

  • Significant growth capability through infill and step-out drilling
  • ~1,000 (gross) drilling opportunities throughout the stratigraphic column
    • Includes ~750 (gross) horizontal drilling opportunities within the Glauconitic, Cardium, Notikewin and Falher formations
  • Overall development plan adds >200 MMboe (gross) of incremental volumes

HIGH QUALITY, STRATEGIC INFRASTRUCTURE

  • Extensive owned and operated infrastructure with <50% utilization enables significant low cost production growth
  • Gas primarily processed through deep cut facilities with unconstrained sales transportation and market egress
  • Significant third party fee revenue

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Confidential information and details of the offering process will be made available to qualified parties upon execution of a Confidentiality Agreement (“CA”). Please refer to the cover pages of the CA for instructions on submitting an executed copy. Interested parties are not to contact Cenovus directly. All communications, inquiries and requests for information relating to the offering process should be directed to one of the contacts listed below.

Key Contacts:


Michael Freeborn
Managing Director
Head of Energy Investment Banking
(403) 221-4138
michael.freeborn@cibc.com


Bryan Berg
Managing Director
Energy Investment Banking
(403) 216-6621
bryan.berg@cibc.com


Colin Man
Director
Energy Investment Banking
(403) 260-0513
colin.man@cibc.com


Brian MacInnis*
Associate
Energy Investment Banking
(403) 216-3018
brian.macinnis@cibc.com

* CA Contact