Accessing Canadian Capital Markets for African Focused Oil & Gas Companies 1
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TMX Group is at the Heart of Canada s Capital Markets Derivatives Issuer services Energy Market Data Cash Trading & Related 3
Canada: Strong Fundamentals Economically stable Ranked #1 in Forbes annual review The Best Countries for Business Canada is the fourth largest equity market by float capitalization in the MSCI World Index World s soundest banking system* Lowest debt-to-gdp among G7 Strong equity culture Energy rich 2 nd largest oil reserves in the world * World Economic Forum, September 2010, three years in a row 4
TSX and TSXV: Global Leaders 1st in North America by Number of Issuers 2 nd in the World by Number of Issuers 7 th in the World by Market Capitalization 8 th in the World by Equity Capital Raised 5
Canadian Public Markets are right-sized for Mid & Small-Cap Issuers Serving all Market Caps A Unique Feeder System 536 graduates +111 M&A* 530 Issuers 2041 Issuers 499 Issuers 179 558 Issuers 30 * Market Capitalization, December 31, 2011 *From January 1, 2000 December 31, 2011 6
The World Trades on TSX ~40% of daily trading originates from international brokers Toronto Stock Exchange Volume & Transactions (2004-2011) Transactions CAGR 27% Volume CAGR 8% 7
Leaders in Global Energy 8
Leading Growth Markets for Oil & Gas Companies #1 405 Number of Listed Oil & Gas Issuers in listed oil & gas companies globally 224 105 127 35% of the world s public oil & gas companies TSX TSXV ASX AIM NYSE 49 42 36 NASDAQ LSE NYSE Amex 14 10 Oslo Bors HKEx As at December 31, 2011 9
Accessing Capital is Key to Fund Growth >$10B Raised by oil and gas companies in 2011 Oil & Gas Equity Capital Raised on TSX and TSXV (C$ Billions) $11.7B $10.4B $10.5B $9.2B $8.2B $11.3B $10.1B 49 New Oil & Gas listings in 2011* $2.6B $5.3B 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Secondary Offerings $4.1B Private Placements IPOs *As at or for the year ended December 31, 2011 10
Oil & Gas Equity Financing Comparatives - 2011 2011 OIL & GAS EQUITY CAPITAL RAISED BY EXCHANGE (C$BN) NYSE $14.9B TSX/TSXV $10.1B ASX Hong Kong NASDAQ AIM LSE Oslo NYSE/AMEX $4.1B $3.5B $3.2B $1.9B $0.7B $0.6B $0.4B On TSX / TSXV, $10.1B was raised through 453 Financings On NYSE, $14.1B was raised through 46 financings Source: Exchange Websites / Capital IQ 11
Highly Liquid Oil & Gas Market Dollar Value Traded by Oil & Gas Issuers (C$ Billions) Source: Captus Partners, Capital IQ, Amounts are in C$Billions 12
Experienced Analyst Community Covers Juniors & Seniors 90 + Oil and Gas Analyst Coverage Oil & Gas Equity Analysts Cover the Sector Global Visibility Source: Capital IQ 13
Listed Oil & Gas Companies are Active in Africa 38 Listed oil & gas companies with assets in Africa, including: 14
Getting Listed on Toronto Stock Exchange & TSX Venture Exchange 15
Multiple Pathways to Listing IPO Initial Public Offering CPC Capital Pool Company SPAC Special Purpose Acquisition Corp. RTO Reverse Takeover/ Reverse Merger QT Qualifying Transaction/ Acquisition Dual or Interlisting 16
Capital Pool Company (CPC) Program Has a Strong Track Record Since inception: Over 2283 CPCs were created 83% have completed their QT over 1888 companies Currently: 363 Graduates now trade on TSX 96 of the grads were CPCs 85 QTs in 2011 17
Listing Criteria Specific to Oil & Gas Tailored listing requirements for oil & gas NI 51-101 report Proved developed reserves / significant contingent resource (TSX)* Unproven property with prospects may be eligible (TSXV) with recommended diversified exploration program** Management / board track record in industry + some public company IFRS financial statements / Sufficient working capital Share distribution requirements Timelines for listing vary significantly depending on deal complexity *See TSX Corporate Finance Manual for complete details *See TSX Venture Exchange Policy 2.1 for complete details 18
Contact our Business Development Team to learn more about your Capital Opportunity Energy Cindy Gray +1.403.218.2822 cindy.gray@tsx.com A Capital Opportunity ENERGY Mining Orlee Wertheim +1 416 947-4477 orlee.wertheim@tsx.com Technology Robert Peterman +1 416 947-4305 robert.peterman@tsx.com Diversified Industries Justin Canivet +1 416 947-4710 justin.canivet@tsx.com China Edward Cheung +1 416 947-4273 edward.cheung@tsx.com United States Colleen Chambers +1 604 643-6524 colleen.chambers@tsx.com International Toll Free Europe 0800 5600 5700 China 00 800 258 9999 North America 1 888 873 8392