About Tuktu Resources Ltd.

An industry leading technical and operational team with direct experience owning and developing profitable Foothills assets.

Foothills Consolidation Opportunity

Attractively priced consolidation opportunities exist within the Alberta Foothills with considerable free cash flow and resource upside.
Due to the exodus from the Alberta Foothills into unconventional plays, previous operators have left underexploited reservoirs and under-utilized infrastructure providing an advantage and cost savings for a junior growth company.
The company has developed a business plan around the target assets that allows for significant free cash flow generation combined with high impact drilling opportunities on low-risk drilling locations.
The lack of recent development drilling has left foothills facilities and pipelines underfilled. Operators have plenty of processing capacity and egress for new gas.

Went public via an amalgamation with private company, previously having raised $18MM in equity via private placements since being founded in 2005, with Mr. de Freitas serving as VP, Exploration and COO.
Completed a number of acquisitions and undertook meaningful exploration and development activities within the Central and Southern Alberta Foothills.
Manitok was focused on both heavy oil, and Foothills natural gas, in many of the same areas where the Tuktu team is currently targeting M&A.

Went public via a reverse take-over of a public company, with a concurrent $20MM private placement, and a rights offering to existing public company shareholders.
Ikkuma subsequently undertook a successful $120MM asset acquisition in the Foothills region funded with a $130MM bought equity deal.
The team would complete a number of additional acquisitions and equity raises, until Ikkuma was ultimately sold to Pieridae in December 2018 (~300% premium to VWAP). The team additionally negotiated a SpinCo as part of the transaction, driving incremental value for all shareholders.

Mr. de Freitas, in addition to other members of the Tuktu team, joined Pieridae at the closing of the Ikkuma transaction and remained with the company as it undertook the transformational Shell Foothills acquisition in 2019.
The Foothills transaction closed in late-2019, adding ~28,000 BOE/d in the Alberta Foothills, in addition to a number of facilities, for a total purchase price of $190MM. The Tuktu team was integral throughout the acquisition and subsequent integration.

Industry leading technical and operational team with direct experience owning and developing profitable Foothills assets.
Team has successfully executed this Foothills junior growth model twice previously at Manitok Energy Corp. (“Manitok”) and Ikkuma Resources Corp. (“Ikkuma”).
Team is ideally positioned to operate Foothills assets as a ‘focus’ area and drive long-term shareholder value.