The Parex Advantage
~750,000
BBL/D
Oil Production (1)
Colombia
Independent
Branches of
Government
Free
Capital Movement
OECD
& No Foreign
Member
Country
Currency Controls
The Parex Advantage
US$4.4B
Excepted Total
E&P Investment (2)
Offshore
Oil Sales
Paid in USD based on
Brent reference pricing
Top Quartile
Cash Flow per BOE(3)
When compared against
TSX-listed oil & gas peers
Established Strong
Social License
US$5MM+ of community
investment in 2022
Strategic Partner
with Ecopetrol S.A.
Existing relationship & MOU
signed in Foothills area
(1) 2021; source: National Hydrocarbons Agency of the Republic of Colombia (ANH). (2) 2022E; source: Colombian Petroleum Association (ACP). (3) Source: Peters & Co. (March 13, 2023); 2023E assumptions: Brent: US$78.93/bbl WTI: US$75.61/bbl, NYMEX: US$3.00/mmbtu, AECO: C$2.92/mcf, USD/CAD: 0.729; all USD cash flow
netbacks converted to CAD; peer list based on Peters & Co. Canadian Producers coverage list (38 total companies (excludes royalty companies)).
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