Tuktu Resources Ltd (TUK) Corporate Presentation summary

Financial and operational highlights

• Share price at C$0.08 with a market cap of C$21.24 million and enterprise value of C$17.36 million as of Q1 2025.

• Q1 2025 operating netback of $0.8 million and adjusted working capital of $3.87 million.

• Q1 2025 production averaged 705 BOE/d, split 51% light oil and 49% natural gas.

• Holds ~137 gross sections (~126 net) of land, with ~100 high-potential, mostly unbooked drilling locations.

• Single vertical well produced 66 Mbbl in 172 days, indicating high-permeability reservoir potential.

Asset base and development strategy

• Assets span four repeatable plays, primarily in light oil-prone Deep Basin reservoirs.

• Operates a 100% owned and operated sweet gas plant, with low decline gas production.

• Focus on exploiting conventional reservoirs with high permeability and lower development costs.

• Penny Upper Banff play estimated at 52 sections, with 70+ drilling locations and future horizontal drilling planned.

• Additional fairways include gas-prone Cretaceous reservoirs and fractured light oil plays in the Foothills.

Technical performance and innovation

• Deep Basin vertical well averaged 386 bbl/d over 172 days with minimal water production and low decline.

• Well performance outpaces 2P corporate reserves, attributed to proximity to regional faults and fracture permeability.

• Horizontal well encountered emulsion issues but shows communication with vertical well; further optimization ongoing.

• Banff reservoir features best-in-class permeability, natural fractures, and overpressure, supporting unconventional completions.

• Deep Basin play exhibits higher pressure gradient (14 kpa/m) and API gravity (31-33) compared to regional analogs.