Birchcliff Energy Ltd T.BIR

RE:If there was 1 name that should be flying today its BIR

[Trooper01]

Infrastructure Assets(1) = $605 MM or $2.27/sh.

• Pouce Coupe Gas Plant = $375 MM

• 100% WI Oil Batteries = $75 MM x 2

• Sales & Gathering Lines = $30 MM

• Field Compression Hubs = $10 MM x 3

• Non-Op Plant Ownership = $20 MM

PDP Value(2)(3) = $1,939 MM or $7.29/sh.

-Total Debt & Preferred Shares(4) = $840 MM or $3.16/sh.

Base Asset Value = $1,704 MM or $6.41/sh.