Overview

In 2010, NuVista celebrated its seventh anniversary as an exploration and production (E&P) company following the reorganization of Bonavista Petroleum Ltd. As our results demonstrate, we have delivered on the promises made to our stakeholders seven years ago.

Since inception, we have doubled our undeveloped land per share, tripled our prospect inventory per share,and increased our net asset value per share by approximately seven times. From July 2003 to December 31, 2009, NuVista has achieved compounded annual growth rates of approximately:

• 20% in production per share
• 30% in reserves per share

We have also established a strong team of over 125 dedicated and talented individuals. Our ability to execute on our business strategy consistently, regardless of the market environment, and to seize the day when opportunities present themselves is widely recognized within our industry.

NuVista Today

• One of the most respected teams in the industry with a proven track record of adding value;
• Production of approximately 28,500 boe/d, with a 73% gas weighting;
• Concentrated, low cost operations with high working interest in three core regions;
• Three core regions – Alberta Deep Basin with a focus on deeper, liquids rich natural gas and cardium light oil, Eastern Alberta and Saskatchewan with shallow natural gas and heavy oil targets and Northwest Alberta and BC with conventional natural gas and light oil.
• Undeveloped land of 890,000 net acres with a 80% average working interest;
• A large, proprietary seismic data base for prospect generation;
• A sizeable investment in undeveloped land in three emerging resource plays, each of which has potential to yield a multi-year prospect inventory of scalable development projects;
• Proven plus probable reserves of over 97.8 million boe;
• Approximately 89 million outstanding shares with a significant level of ownership by management and directors, large institutional shareholders, and strategic partners. This support will provide NuVista with a favourable cost of capital to complete acquisitions within our industry as junior companies look for exit strategies and conventional E&P trusts look to redefine their corporate structures.

September 2010

Click to enlarge image