OUR HISTORY Birchcliff Energy Ltd. ("Birchcliff" or the "Corporation") was originally incorporated on July 6, 2004 under the Business Corporation Act (Alberta) ("ABCA") as 1116463 Alberta Ltd. and on September 10, 2004 changed its name to Birchcliff Energy Ltd. On January 18, 2005, the Corporation amalgamated under the ABCA with Scout Capital Corp. ("Scout"), a public corporation, pursuant to a Plan of Arrangement to form an amalgamated corporation that continued under the name Birchcliff Energy Ltd. On May 31, 2005, the Corporation amalgamated under the ABCA with Veracel Inc. ("Veracel"), pursuant to a plan of arrangement to form an amalgamated corporation that continued under the name Birchcliff Energy Ltd. BUILDING ON OUR PAST Since we were founded back in 2004, we have invested approximately $4.4 billion in capital, primarily in the Montney/Doig Resource Play. These investments have generated $4.6 billion in revenue and delivered $2.4 billion in adjusted funds flow, all of which has been re-invested. As at December 31, 2020, the net present value of the future net revenue attributable to our proved plus probable reserves (at a 10% discount rate, before income taxes) is $4.8 billion as estimated by our independent qualified reserves evaluators. THE FOLLOWING DESCRIBES THE MAJOR EVENTS IN OUR HISTORY: January 19, 2005 Common shares commenced trading on the TSX Venture Exchange February 6, 2005 Rig released first Montney/Doig vertical exploration gas well drilled by Birchcliff in the Pouce Coupe area May 31, 2005 Completed acquisition of properties in the Peace River Arch for $242.8 million July 21, 2005 Common shares commenced trading on the TSX September 22, 2007 Rig released first Montney/Doig horizontal natural gas well drilled by Birchcliff in the Pouce Coupe area March 2010 Phase I of the Pouce Coupe Gas Plant commenced operations with a processing capacity of 30 MMcf/d November 2010 Phase II of the Pouce Coupe Gas Plant commenced operations with a combined processing capacity of 60 MMcf/d October 2012 Phase III of the Pouce Coupe Gas Plant commenced operations with a combined processing capacity of 150 MMcf/d September 1, 2014 Phase IV of the PC Gas Plant commenced operations with a combined processing capacity of 180 MMcf/d July 13, 2016 Closed equity financings for total gross proceeds of $690.8 million July 28, 2016 Completed the Gordondale Acquisition for approximately $613.5 million. The Gordondale Assets included high working interest operated production and a large contiguous land base on the Montney/Doig Resource Play which is immediately adjacent to Birchcliff’s existing Pouce Coupe properties March 31, 2017 Paid first quarterly dividend to common shareholders September 2017 Phase V of the Pouce Coupe Gas Plant commenced operations with a combined processing capacity of 260 MMcf/d April 3, 2018 Announced new long-term processing arrangement at Altagas’ deep-cut processing facility in Gordondale August 2018 Phase VI of the Pouce Coupe Gas Plant commenced operations with a combined processing capacity of 340 MMcf/d November 14, 2018 Announced entering into a definitive purchase and sale agreement to acquire 18 gross (15.1 net) contiguous sections of Montney land between Pouce Coupe and Gordondale for $39 million (subsequently closed on January 3, 2019) December 31, 2018 385 (380.6 net) Montney/Doig horizontal wells successfully drilled and cased to date Phone: (403) 261-6401 Fax: (403) 261-6424 Emergency (24 hours) 1-866-566-2923 Legal Advisories Site Map Privacy Policy 2021 Birchcliff Energy Ltd. All Rights Reserved.