Spartan Delta Corp (SDE) investor relations material

Strategic asset assembly and development

• Over the past two years, a world-class oil resource position in the Duvernay was assembled through 12-13 transactions, focusing on liquids-rich growth.

• The Deep Basin legacy asset provides foundational cash flow, enabling Duvernay development and offering consolidation potential.

• High insider ownership and geographically close assets support efficient, low-cost operations.

• The company has a history of value creation, raising $635M in equity and returning $1.8B to shareholders.

• A sister company, Logan Energy, was spun out, while maintaining a $1B valuation.

Production growth and operational performance

• Liquids production is growing rapidly, with Duvernay oil output jumping from under 1,000 to nearly 2,500 barrels per day in one quarter.

• Eleven Duvernay wells are currently producing, with ten more to be completed this year, supporting exponential oil growth.

• The Duvernay position covers 360,000 net acres, supporting over 600 drilling locations and a path to 25,000 BOE/day at 70-80% liquids weighting.

• Initial production rates from Duvernay wells consistently exceed 1,000 barrels of condensate per day.

• Results have been consistent, predictable, and repeatable, confirming scalability.

Deep Basin asset and future outlook

• The Deep Basin asset has over 200 booked and 900 identified locations, requiring 18-20 wells per year to maintain flat production.

• Ownership of strategic infrastructure allows rapid response to market changes and supports free cash flow generation.

• The Deep Basin is positioned as a broader gas and liquids hub, benefiting from Canada's first LNG project coming online.

• The asset mix allows participation in both liquids growth and gas upside, with ongoing consolidation opportunities.

• The company is repeating its successful resource play development strategy, now focused on the Duvernay.