Embed Size (px)
Citation preview
FROG LAKE FIRST NATIONS Economic and Lands Development A Brief Overview
FROG LAKE FIRST NATION - OVERVIEW
First Nation 60 miles NW of Lloydminster ~3000 members; ~1200 on reserve 55,000 acres Rich oil and gas resource base Established heavy oil production exceeding 6kbpd Opportunity for further growth
2
FROG LAKE - MCLAREN BELT DEPOSIT
3
FLFN OIL AND GAS LAYER
4
• FLFN HOUSING – 350 HOMES
5
PRIORITY FOR ECONOMIC DEVELOPMENT PROGRAMMING Primary Objective
Draft E.D. policy/mandate
Commission Long term Community Plan
Goals Target demographic
which are under skilled and underemployed
Educate secondary students of future opportunities
Strategy Develop E.D. program
revenues Create Land & Resource
program Tactics
Initiate Work Skills Projects
Creation of new jobs Wage subsidies for youth
6
COMMUNITY BASED ECONOMIC & GOVERNANCE DEVELOPMENT
DIRECTOR ADVISORY COMMITTEE
ECONOMIC DEVELOPMENT
LANDS AND RESOURCES
7
INTERTRIBALECONOMIC RELATIONS
COMMUNITY BASEDECONOMY
NATIONAL ANDINTERNATIONAL
ECONOMIC RELATIONS
OIL & GAS SECTOR
FLERC CORPORATE STRATEGY A heavy oil producer with strong community relationships experienced in
growing through the drill bit and acquisitions Enviable Asset Base Strong production growth history FY14 production of 2427 boepd (98% oil) Dec’13 Proved + Probable Reserves of 10.3mmboe with PV10 of $168.6
million FY14 Cashflow of $22.0 million; Free cashflow (after capex) of $16.2 million Growth Opportunity Remaining oil in place are >1.5 billion bbls; significant EOR potential Undeveloped land of 41,000 acres Balance Sheet Strength No debt; $25 million of cash Access to further funds through shareholder (Frog Lake First Nation) • $76
million of available tax pools
8
FROG LAKE ENERGY RESOURCES CORP. Historically, First Nations received only land bonus & production royalties from oil companies operating on First Nation lands
• Terms negotiated by Indian Oil & Gas Canada for First Nation • Minimal voice in development plans, activity levels, employment Frog Lake First Nation wanted to participate in a more active way
• FLERC (corporation) created to fill this role • 100% owned by Frog Lake First Nation • Participate directly in exploration & development joint venture opportunities • Company has evolved into a partnership with existing operators on Nation lands • Capture upside of direct interest in production while minimizing risks • Assembled a strong corporate leadership and technical team • Actively seeking opportunity to further growth
9
•
FLERC MILESTONES 2000 Incorporation 2003 Initiated Joint Ventures w/ Industry Partners with Capital & Expertise FLERC acquired mineral leases from the Nation 2005 Acquisition of Husky Oil Ltd. assets on Reserve . Joint venture with
Industry Partner (50% FLERC interest) 2008 Production Exceeds 1,000 barrels per day Acquired lands under developed, numerous drilling/rework opportunities 2009 Start of Aggressive Drilling Program on Frog Lake Lands FLERC drilling funded by internal cash flow 2010 Farmout & Joint Venture – Windtalker Energy Corp. Foreign E&D
capital accessed under favourable terms to FLERC 2012 Property Acquisition / Joint Venture – Perpetual Energy Inc. 33% interest in under developed Sparky oil pool. First project off FLFN lands 2013 Corporate production of 3,000+ Boepd, Free Cash flow $30MM, Debt Free
10
2010 - FLFN ECONOMIC & LANDS DEPARTMENT
11
2011 - FLFN ECONOMIC & LANDS DEPARTMENT
12
2012 - FLFN ECONOMIC & LANDS DEPARTMENT
13
2013-14 - FLFN ECONOMIC & LANDS DEPARTMENT
14
15
16
FLFN ECONOMIC DEVELOPMENT & LANDS TRAINING PLAN
Banff Governance Training • May 2012 -Three (3) Economic Development Staff completed
Aboriginal Leadership Certification over a 8 months timeline BEARH Environmental Monitoring • Spring 2012, partnership with Tribal Chief Ventures BEARH Land Use Planning Coordinator (LUPC) • June 2013 ECO Canada, Eleven (11) FLFN community members and staff passed course. Fully funded by FLFN Nation
TSAG – University of Alberta • 2012-13 – GIS credit course initiated; 6 FLFN staff completion
18
FLFN - ONGOING
AANDC, ongoing workshops for updates on new policies
TSAG, ongoing workshops for environment( water, air and soil) and technical training
2013-14, All Lands completed 3 levels GIS training, University of Alberta
2014-16 – FLFN began National Lands Manager Training, Indigenous Resource Management Program (IPRM), University of Sask. All Lands Staff will finish the 2 years training in 3 years.
19
FLFN - ONGOING
20
ECONOMIC DEVELOPMENT & LANDS STAFF Elaine Carter, Director, [email protected] Allarice Quinney, Executive Assistant,
[email protected] William Quinney, Business Development Officer,
[email protected] Len Quinney, Lands Officer,
[email protected] Dean Harper, Lands Officer,
[email protected] Kendra Saddleback-Quinney, GIS Clerk,
21
FINAL WORDS LANDS IS OUR ECONOMIC BASE Our ultimate goal is to have everyone have the
same vision, the same strategic direction. The main focus is for us to work together to redevelop and revise our strategic plan. We’re looking at five-year, 10, 25, and 100 years planning. Land management is the greatest theme in governance and economics. If we are to advance, we need infrastructure, we need revenue creation to come back onto the reserves seven times, I don’t know if we will see that in my generation, but maybe in our children or grandchildren. The reason we keep going back to strategic planning is to think about how we want our Nations to prosper. 22
