tbd presentation

8/2/2019 TBD Presentation

1/29

TSX-V: TBDUSA - OTC: TBDYF


2/29

Highlights

Natural Gas

Gordon Creek, UtahAdjacent to Utahs largest gas field Drunkards Wash Currently 8 Bcf Proven Reserves + 19 Bcf Probable Reserves

Potential to increase conventional reserves to 250 Bcf

Mancos Shale major additional reserve potential through the adoption of modern completion techniques

2011 NI 51-101 valuation of US$38 million

CO2 Known CO2 Pool (estimated 140 BCF 1.3 TCF)

Potential Markets (EOR, Oilfield Service, Food & Beverage)

Major Commercial Value Potential

Oil Powder River Basin, Wyoming oil exploration

5000 acres in emerging prolific Niobrara oil shale trend

Surrounded by EOG Niobrara 2010 horizontal drilling

2011 test well with Niobrara oil shows

Duschene County, Utah acquiring land on emerging prolific green river oil shale play


3/29

Gordon Creek - Natural Gas

Drunkards Wash

Clear CreekHelper

Gordon Creek

(MAE: ASX)

(COP: NYSE)

(BBG: NYSE)

(APC: NYSE)

Originally developed in the 1950sProduced 130 BCF from Ferron formationRecent reactivation and drilling program

Proved reserves: 238 Bcfe

40,600 acresProgram potential: 934 Bcfe

Cumulative Gas Production: 815 BCFExpected Recoverable Reserves:1,250 BCF

225,000 net acres204 MMCfe/day


4/29

Gordon Creek - Natural Gas

Drunkards Wash

Conoco DrunkardsWash Field

815 Bcf to date 610 wells 1.25 Tcf projected

2.0 Bcf/well based on 4 wellsper section

Thunderbird GordonCreek Field

> 6500 ASL 4.3 Bcf to date 11 wells (3 onproduction) > 250 potential

locations


5/29

Highlights

Management David Evans P. Geol. Ph.D Chairman

Rick Ironside P.Eng. MBA President, Chief Operating Officer

Barry Brumwell C.E.T. Vice President of Operations

Over 90 years collective experience creating, building and selling oil & gas companies,

including:

Barrington Petroleum - 25,000+ BOE/Day

Defiant Energy Corp 3500+ BOE/Day

Defiant Resources Corp. 1250+ BOE/Day

The Utah Advantage

Gordon Creek borders Drunkards Wash, Utahs most prolific natural gas field Low royalty rates, land costs and operating costs

Recent completion of REX pipeline lowering Rockies pricing differential

Utah named one of the top business friendly jurisdictions in the world (2010 Fraser Institute

study)

Favorable US CDN Exchange rate favors US operations


6/29

Gordon Creek Natural Gas

Making Progress Under New Management (3 years)

Increased 2P reserves 79% and asset value 55% prior to access to new capital

for development drilling

Refinanced company debt, replacing Macquarie bank with debenture holders

Created a new development strategy with potential to add 250 bcf proven

reserves with only 25 million capital expenditures

Concluded gas purchase funding with Sandstorm Metals & Energy Ltd.

$25 Million funding for 2012 and 2013 (commitment of 50 new drills, 5 re-entries)

2012: 15 new drills and rework 5 existing wellbores

2013: drill the balance of the 50 new wells

Sandstorm pays an operating and royalty fee of $1.00 plus 20% of field price > $4.00

For subsequent wells, Sandstorm pays a prescribed well fee

For subsequent lands in a mutual interest area, Sandstorm pays 35%

Recent focus on the commercial value of the Gordon Creek CO2 potential

resource

Increasing oil focus, gaining entry into two new prolific oil plays


7/29

Gas Reserves: By Category

Reserve Category GAS (MMCF)2008 2009 2010 2011

Proved Reserves

Proved Developed Producing 473.0 471.5 1,110.9 967.3

Proved Developed Non-Producing 2,741.3 3,701.2 3,673.6 2,410.5

Proved Undeveloped 2,208.5 4,582.5 4,526.6 4,079.5

Total Proved Reserves (1P) 5,422.8 8,755.2 9,311.1 7,457.3

Probable Reserves11,865.3 20,977.7 21,651.1 18,515.0

Total Proved + Probable Reserves(2P)

17,288.1 29,732.9 30,926.2 25,972.3

Possible Reserves13,903.2 10,860.2 11,241.8 9,761.4

Total Proved + Probable + PossibleReserves (3P) 31,191.3 40,593.1 42,168.0 35,733.8


8/29

Oil & Gas Reserves: Discounted NPV

Reserve Category

2008 2009 2010 2011

PV10MM US$

PV10MM US$

PV10MM US$

PV10MM US$

Proved Reserves

Proved Developed Producing 1.498 0.885 2.314 1.482

Proved Developed Non-Producing 7.167 5.718 5.961 3.756

Proved Undeveloped 3.388 3.504 5.490 4.342

Total Proved Reserves (1P) 12.053 10.107 13.765 9.580

Probable Reserves 19.999 30.993 35.952 28.343

Total Proved + Probable Reserves (2P) 32.052 41.100 49.717 37.923

Possible Reserves 46.753 25.959 24.370 20.540

Total Proved + Probable + Possible Reserves(3P) 78.805 67.059 74.087 58.463


9/29

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10-1154

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30-1090

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16-1031

19-1182

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18-1037

29-1060

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1-1130

1-1131

1-1132

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12-1163

30-1063

19-1038

34-865

34-524

27-864

34-868

28-860

10-1155

28-863

28-862

15-8-30-11

16-8-7-215-12

43-25

42-24

2-8R

3-8R

3-4R 4-4R4-5R

1-5R2-5R

2-7R

2-17R

3-29R

4-29R1-31R

4-31R

1-20R

4-30R

1-32R2-32R

3-32R

4-32R

1-9R

4-20R

3-30R

DRUNKARDS WASH COMPARISON WELLS

: :

Gordon Creek

Drunkards Wash Best Practices Study

140 wells

Proximity Statistical

Analysis

Mapping of

Sands & CoalsDrunkards Wash

Drunkards Wash Comparison Wells


10/29

Highlights Best Practices Study

Technical Analysis

Study of completion practices, logs and statistical data for 140 wells in close

proximity to Gordon Creek

Coals and sands are equivalent and can be mapped from Drunkards Wash across

Gordon Creek and beyond

140 wells divided into 73 wells with thicker sands and 67 mostly coal wells

Statistical solution for gas contribution of sands and coals

Conclusions

Ferron sands and coals at Drunkards Wash continue through Gordon Creek

Substantial by-passed pay at Gordon Creek as a result of differences in historical

practices at Gordon Creek versus Drunkards Wash Best practice is to complete stimulate and simultaneously produce coals and sands

with porosity > 7% and to produce associated water


11/29


DRUNKARDS WASH

RIVER GAS CORP03-442401,382201,223

GORDON CREEK

THUNDERBIRD ENERGY CORP3-20-14-8

K_FERRON

K_B

ASAL_M

ARINE

3450(3587)

3500(3537)

3550(3487)

3600(3437)

3550(3912)

3600(3862)

3650(3812)

3700(3762)

3750(3712)

3800(3662)

Drunkards WashRiver Gas Corp 03-442

401,382 201,223

Gordon CreekThunderbird Energy Corp

3-20-14-8

Sandstone

Coal


12/29


242.4 256.4 251.4211.9 194.4

216.5 194.8 170.6

155.7137.3

0

50

100

150

200

250

300

350

400

450

500

1 2 3 4 5

Gas

Rate(mcf/day

)

Years on Production

Drunkard's Wash - Average Well

Coal Contribution (Avg. 21.6 ft) Sand Contribution (Avg. Phi x h = 2.20)

685

1330

0 443

Forecast Volumes - EconomicLimit - 35 mcf/day 32 Years,

MMcf, MSTB


13/29

Full Cycle Economic Analysis

NYMEX Gas Price vs. IRR and Payout

NYMEX GAS PRICE (US $)

IR

R(%),

Payout(MTHS)

0

20

40

60

80

100

120

140

160

180

0 1 2 3 4 5 6 7 8 9

PAYOUT (MTHS) IRR (%)

(Current Price)


14/29

Shale Gas Play Comparisons

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

*BreakEven

-$/Mcf

Gordon Creek - Compared to a Ranking of the Various NaturalGas Shale Plays

* Economic Break Even Assumes 20% Before Tax Return on Capital and Excludes Sunk Costs (Acreage, overhead, etc.)


15/29

Full Cycle - Economic Analysis

Well Parameters

To be conservative, we have assumed a 25% reduction in reserves and IP rates

Average reserves of 1.45 Bcf per well

First year average rate of 370 mcf/day raw gas

Average SITLA, Fee or BLM Royalty = 16.5%

Est. drill, complete, equip and tie-in $750,000 US Land acquisition cost per location $16,000 US

Mainline cost per well $25,000 US

Operating cost - $1000 per well per month plus $0.45/mcf

Transportation offset to NYMEX gas price = $0.50 US

Conclusions Full cycle break even price roughly $2.00 NYMEX

$4.00 NYMEX flat price yields a 38.6% Internal Rate of Return

$5.50 NYMEX yields a 66.9% IRR and a 18 month payout


16/29

Mancos Shale Lower Blue Gate Member

1,500 to 1,800 ft of thick uniform calcareous shale.

Overlain and underlain by established sandstone /coal gas reservoirs.

Over 1,000 ft has TOC (type II and mixed type II-IIIkerogen) greater than 1.0%, 680 feet has TOC greaterthan 1.5%, and nearly 200 feet has TOC greater than

2.0%.

Chronologically and Stratigraphically equivalent tothe White Specks/Medicine Hat shale play in southernAlberta.

Is an under pressured reservoir that can greatlybenefit from advancements in Propane Fracturing

technologies.

The OMIMEX STATE 18-1A at Gordon Creek tested1 MMcf/d and came on un-stimulated at 270 Mcf/d.

Large mud gas readings, and widespread gas showsall demonstrate the strong potential for widespread

development of this shale gas reservoir.

GORDON CREEKTHUNDERBIRD ENERGY CORP

1-30-14-8

2350(5274)

2400

(5224)

2450(5174)

2500(5124)

2550(5074)

2600(5024)

Gamma Ray 0-150 API Gas Detector


17/29

Recent Drilling Activity and Results

XTO (Exxon) NewWestern FerronExtension

6 locations 2 drilled at the end of2009.

30 day average testrates of 500 Mcf/d. Not yet tied-in.

XTO/ConocoPhillips- SouthwesternFerron Extension

15 new drills since 2006 6-8 wells a section. IP rates from 200 Mcf/d

1.5 MMcf/d.


18/29

StatusQuo Stage 1 Stage 2

Sandstorm Funding

Gross Capital (US M$)LandDrilling/Completion/EquipWorkoversGathering & Facility

TOTAL

(Net Thunderbird)

15,000

50011,250 (15 wells)2,000 (5 wells)

70014,450

(550)

10,000

45026,250 (35 wells)

-2,250

28,950

18,950

Production (boe/day)GrossNet

150101

1,169 to 1,399760 to 909

2,964 to 3,7131,927 to 2,413

Net RESERVES (Bcfe)ProvenProbable

TOTAL 2P

9.321.730.9

37.7 to 52.029.0 to 40.066.7 to 92.0

150.8 to 208.0____ _-______150.8 to 208.0

Field Cash Flow (M$/Month)Net 47 387 to 462 995 to 1240

Development Plan Growth Summary

ASSUMPTIONS

Production per well 350 to450 mcf/day

Reserves per well of 1.45 to2.0 bcf

Netback of $2.25 per mcfassuming NYMEX price of$4.00 per mcf

Summary acquire 31 sections, work over 5 existing wells, drill 50 new wells and build 8 mile main pipeline to addnet Thunderbird; 1826+ boe/day and 119.9+ bcf of 2P reserves (141.5+ bcf of 1P reserves)

Total Capital - $43.4 million ($18.4 million net Thunderbird)


19/29

Status Quo Stage 1 Stage 2

P&NG Value @ 10%(CDN MM$)

43.9* - -

P&NG Value @ $1.50/mcf(CDN MM$)

100.0 + 226.2

Working Capital(CDN MM$)

15.5 1.6 (9.1)/0.3**

Debt(CDN MM$)

10.0 10.0 10.0

Shares Outstanding(Millions)

80.0 81.0 82.7

Asset Value/Share (Basic)(CDN $)

$0.55 $1.13 $2.50

Asset Value/Share (F.D.)(CDN $)

$0.50 $0.85 $1.77

Development Plan Asset Growth

* January 2011 NI 51-101 Valuation (Proforma Closing Sandstorm Funding)

** Assuming exercise of all warrants (Fully Diluted)


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Gordon Creek - CO2

Known Gordon Creek CO2 Pool

3rd Party studies conducted by the USGS, the DOE and others estimate

CO2 reserves between 140 BCF and 1.3 TCF

Gordon Creek exploration wells drilled in 1960s and 1970s tested between

4.5 and 17.5 mmcf/day

Potential Markets Food and Beverage

Oil Field Operations (Fracking)

Enhanced Oil Recovery (EOR) Uinta Basin

Commercial Value

Current estimated EOR value of $25 per ton ($1.50/MCF) $25 million+ in potential annual sales (at 1 million tons/year)


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OIL FOCUS : Duchesne County, Utah

Duchesne, Utah

Land Acquisition Mode

Freehold lands and Ute Tribe

own large tracts of land here.

Prolific Green River Shale Oil PlayNew Practices

Typical wellfirst yearaverage oilrate in excessof 200 barrels

per day

Vertical welldepths 5000to 8000 cost$1.0 to $1.2

million


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Donkey Creek

Olds

Donkey Creek North

Coyote Creek

Coyote Creek South

Coyote Creek South

Raven Creek

Duvall RanchRobinson Ranch South

Slattery

Brennan

Four Horse

Coyote Creek

Kara

Robinson Ranch

Thornton

GrasshopperButte

Walking Stick

OIL : Weston County, Wyoming

Weston County, WY

Lands are highly prospective for the new Niobrara

horizontal oil shale play

2011 test well with Niobrara oil shows

Further testing and/or horizontal drilling

required to assess

Multiple horizons with oil potential

Adjacent fields have produced over 100

million barrels of oil and 40 BCF of gas to

date, including: Coyote Creek (25 million barrels)

Raven Creek (50 million barrels)

500,000 barrel reserves potential per well on

40 acre spacing


23/29

ThunderbirdLands

OIL : Weston County, Wyoming

Niobrara 2010 Permits > 3000


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Market Summary

TSX-V: TBD

Shares Outstanding: 80 Million

Net Asset Value

Per Share

$43.9 million *

$0.55

Market Summary

Based on 2011 NI 51-101 Reserve Report Proforma Closing of Sandstorm Metals & Energy Ltd. Funding


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David Evans- Director, Chairman

Mr. Evans holds a B. Sc. (Honours), (London) as well as a Ph. D. Geology (Wales). He has 30+

years of experience in the oil and gas industry, in both technical and senior management roles. Most

notably, Mr. Evans has created, grown and ultimately merged or sold 3 very successful oil and gas

public companies, namely Barrington Petroleum Ltd., Defiant Energy Corporation and Defiant

Resources Corporation.

W. D. Cameron White - Director, Chief Executive Officer

Mr. White has been involved in the natural resource business since 1981. His experience includes14 years as a corporate and securities lawyer specializing financing, mergers and acquisitions in the

oil and gas and mining sectors. Mr. White has also served as a director of numerous natural

resource companies.

Rick IronsideDirector, President and Chief Operating Officer

Rick Ironside P. Eng., holds a B.Sc. Engineering (Calgary) and an MBA (Ivey School of Business).He has nearly 30 years of broad based, petroleum industry experience, including 10 years in senior

management roles. Most recently, Mr. Ironside served as President and CEO of Defiant ResourcesCorporation. Mr. Ironside has also recently founded Green Fuels Factory Inc, whose mandate is tobuild the first zero CO2 emission coal to liquids plant in Alberta.

Directors & Officers


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Stephen CheikesDirector

Mr. Cheikes is a lawyer who practiced in New York and Los Angeles before

moving to Vancouver. During the last 10 years Mr. Cheikes has created and

operated a number of tax-assisted investment vehicles that have resulted in the

investment of hundreds of millions of dollars in the film industry.

Jim Podruski- Director

Professional Geologist with 25 years of experience in the petroleum industry and

government agencies, assessing petroleum potential and exploring for and

developing hydrocarbon reserves in several basins in Canada, SE Asia, and

Latin America. Worked as a Geologist for major, intermediate, and junior oil

companies. Published extensively with the Geological Survey of Canada, has

been a Director of 3 junior companies. Former President and CEO of Alturas

Resources. Experienced in directing all facets of petroleum exploration programs.

Holds an MSc Geology from the University of Southern California.

Tim GambleDirector and Corporate SecretaryMr. Gamble is a successful entrepreneur who presently oversees business

operations at Thunderbird Films, with a particular focus on corporate finance, and

strategic alliances, as well as Executive Production services of feature films and

television series. Tim is the founder and former President of Peace Arch

Entertainment Group Inc., which is listed on the TSX and AMEX stock exchanges.



27/29

Alan J. Walker - Director

Mr. Walker holds a B.Sc. in Mechanical Engineering from the U.S. Military Academy at West Pointand an MBA from Rensselaer Polytechnic Institute in Production Management. His previousemployment includes positions with General Electric, Amoco Production and Questar Energy. Mr.Walker has extensive military service in the U.S. Army including special operations work throughoutEurope and the Pacific, and most recently as the operations liaison for General Petraeus inBaghdad during the surge in early 2008. Mr. Walker is currently the technology outreach director ofthe USTAR initiative and has been working closely with Thunderbird on the SWP deep saline CO2sequestration project.

Rupert Evans- Vice President of Geosciences

Mr. Evans holds a B.Sc. Geology from the University of Calgary. Mr. Evans has a lead role in thedevelopment of Thunderbird's existing assets and the ongoing evaluation of potential new projectsand growth opportunities. Mr. Evans previously worked with the exploration teams at Defiant Energyand Defiant Resources and, for the last 2 years has acted as a geological consultant ThunderbirdEnergy.

Barry Brumwell Vice President of Operations

Mr. Brumwell has over 30 years of experience covering virtually every facet of drilling andcompletions in the upstream oil and gas industry. During his career Mr. Brumwell has specialized inthe design and exploitation of a variety of conventional and unconventional oil and gas projects. Mr.Brumwell has demonstrated that he is an early adopter of proven technologies and his experiencealso includes oil sands SAGD operations and CO2 sequestration projects. Most recently, Mr.Brumwell supervised a multi-well cardium oil drilling program designed to enable horizontal multi-frac completions.



28/29

Certain information contained in this presentation has been obtained from generally recognized, third-partysources and has not been verified independently by the Company. Certain statements contained in this

presentation may constitute forward-looking statements which involve risks and uncertainties that could cause

actual events or results to differ materially from the estimated or anticipated events or results implied or expressed

in such forward-looking statements. Statements contained herein reflect the current internal projections,

expectations and beliefs of the Company based on information currently available to the Company, and the

Company assumes no obligation to update or revise these statements. The Company, nor any of its respective

affiliates or representatives, does not make any representation or warranty, express or implied, as to the accuracy

or completeness of the information contained herein or any other written or oral communication made available inconnection herewith. Only those representations and warranties that are made in a definitive written agreement

relating to a Transaction, when and if executed, shall have any legal effect. This presentation does not purport to

contain all of the information required to evaluate all of the factors that may be relevant to an interested party

considering a Transaction with the Company. The ability of the Company to execute its growth initiatives as

described in this presentation is dependant upon the Company obtaining sufficient additional capital resources,

however there can be no assurance that such growth initiatives will be successful even if such additional capital

resources are obtained. Interested parties must rely upon their own due diligence, investigation, review and

analysis, and should consult such persons own professional advisors in connection with any transaction involving

the Company. The information contained herein is for informational purposes only, and this document is not to be

construed under any circumstances to be (a) an offering or solicitation for the sale of securities; (b) a

recommendation to purchase, sell or hold any securities; (c) or an offering memorandum as contemplated by

applicable securities laws.

Forward Looking Statements


29/29

THUNDERBIRD ENERGY CORPORATION

Thunderbird Energy Inc. (US)

Organization

www thunderbirdenergy com

Corporate Information

Listed TSX Venture Exchange: Symbol TBD

Vancouver Office

Suite 401 533 Smithe Street

Vancouver, BC V6B 6H1

Tel: 604-707-0373

Fax: 604-707-0378

Calgary Office

Suite 800, 555 4th Avenue SW

Calgary, Alberta T2P 3E7

Tel: 403-453-1608

Fax: 403-453-1609

tbd presentation

Documents