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Cased Wellbore Specialists Profitable International Operations Capital For Continued Growth

INTEGRATED PRODUCTION SERVICES LTD. Cased Wellbore Specialists Profitable International Operations Capital For Continued Growth. Mission. To be recognized by customers as a premier provider of cased wellbore (production) services & products

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Cased Wellbore Specialists Profitable International Operations Capital For Continued Growth

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  1. INTEGRATED PRODUCTION SERVICES LTD. • Cased Wellbore Specialists • Profitable International Operations • Capital For Continued Growth

  2. Mission • To be recognized by customers as a premier provider of cased wellbore (production) services & products • To provide shareholders with a profitable, long-term growth investment • To provide employees with rewarding, satisfying and challenging careers

  3. Why Cased Wellbores? • Provide services and products from initial completion to final abandonment (5 – 50 years) • Stable revenue base through periods of low drilling activity, participation in high drilling through completions • New technologies and proprietary products and services for growth in all markets

  4. Production Facts • There are over 190,000 active wellbores in the Canadian basin (producer, injector, suspended, other) • Another 14,000 producing wells will be added in 2000, more in 2001 • Continued wellbore growth permits continued service sector expansion • IPS provides essential services for all wellbores in oil and gas fields worldwide

  5. New Company, New Name • INTEGRATED PRODUCTION SERVICES LTD. • “IPL” on CDNX 46% 54% OTATCO INC. RELIANCE SERVICES GROUP LTD. IPS was created April 5, 2000 through the amalgamation of OTATCO and Reliance

  6. Competitive Advantages • Integrated approach to essential wellbore services • Experienced and skilled personnel • Engineering depth • Patents and proprietary technologies • Profitable international operations • Successful consolidator - 16 focused acquisitions in five years

  7. BOARD OF DIRECTORS - Doug Robinson – ChairmanRob Withers, David Yager, Walter Dawson Jamie Biluk, Keith Krausert, John Geddes, Ken Mullen Board of Directors, Management David Yager President Doug Robinson Chief Executive Officer Richard Kines Chief Financial Officer Barry Lee Executive VP & Chief Operating Officer Richard Ironside VP, Eastern Hemisphere Premier Sea & Land PHOENIX Bob Duval Wireline Manager VIKING Mark Stormoen VP Gas Testing OTATCO Bob Copeland VP Production Svc

  8. Management and Board Depth and Experience • 300 years of diversified and successful oilfield service experience • Every officer and senior manager has founded and grown one or more successful oilfield service companies • Committed to the IPS business model and production (cased wellbore) focus

  9. Wireline Services • A leading Canadian cased hole wireline company • third in Canada with 28 units (34 with Jet) • New equipment, average fleet age under 3 years • Capable customer interface (service & sales) • Broad market coverage • 17 cased hole E-line units • 4 combination E-line/slickline • 7 slickline PHOENIX WIRELINE

  10. Production Products, Services • Comprehensive oil & gas well optimization services • Leading technologies for surface evaluation • Production and reservoir engineering • Asset management, suspended and producing wells • Patented and proprietary oil tool manufacturing • Well automation and diagnostic instrumention

  11. Gas Well Testing • AOF (Absolute Open Flow) testing of new and existing wells • Frac flowbacks, well cleanups • In-line testing of producing wells • New, portable and innovative equipment fleet that enjoys higher utilization rates • Capable personnel for high volume, high pressure, sour operations

  12. International Operations • Wholly-owned subsidiary serving SE Asia from operations base in Singapore • Primary business oilfield equipment procurement, rental, sales and service • Marketing vehicle for expansion of other IPS divisions, products and services • Currently managing optimization contract for Caltex (Chevron & Texaco) Premier Sea & Land

  13. Proprietary Technologies, Patented Products • World leader in surface reservoir pressure measurement (acoustic pressure surveys) • 15 commercial oil tool patents (27 patents in total) • Proprietary remote gas well optimization technology • Patented overbalanced tubing conveyed perforating method

  14. All Customers, All Areas Zama/Rainbow High Level Ft. St. John Grande Prairie Slave Lake Whitecourt Lloydminster Edson Red Deer Calgary Brooks Medicine Hat Estevan

  15. AOF Gas Well Testing Integrated Production Services Asset Management Slickline Services Production & Reservoir Knowledge Artificial Lift Tools & Systems Cased Hole Electric Line Oil & Gas Well Optimization International Markets Well Automation & Diagnostic Instruments

  16. Gas Well Testing Reservoir engineering and analysis (OTATCO) Log & perforate initial completion (Phoenix) AOF gas well testing equipment (Viking)

  17. Gas Well Optimization Engineering and remote control (OTATCO) Plunger lift system sale and calibration (OTATCO) Slickline unit for installation & service (Phoenix)

  18. Perforating Services Surface measurement technology (OTATCO) Well inflow production engineering (OTATCO) Electric cased hole wireline (Phoenix)

  19. Market Information • Basic Common Shares 23,603,648 • Fully Diluted 26,873,761 • Recent Price (Oct 24) $2.50/share • Market Cap (Sep 24) $67.2 million • 52 Week High $3.05 • 52 Week Low $1.40

  20. Shareholders APPROXIMATELY 2.2 MILLION SHARES WILL COME OUT OF ESCROW IN NOV 2000

  21. Balance Sheet Summary • June 30, 2000 ($ millions) w/SCF Funds • Current Assets $39.5 • Capital Assets $25 • Patents, Goodwill $6.9 • $71.5 • Current Liabilities $6.8 • Bank Term Debt $6.8 • 9% Convertible Debentures $5.2 • Future Taxes $5.2 • Shareholders’ Equity $47.5 • $71.5

  22. Financial PerformanceSix Months to June 30, 2000 • Revenue ($000) $25,393 • EBITDA ($000) $5,446 • Per Share $0.40 • Cashflow ($000) $4,668 • Per Share $0.34 • Earnings Before Amort ($000) $2,182 • Per Share $0.16 • Earnings After Taxes $1,716 • Per Share $0.13 • -Provision for future taxes only. IPS is not taxable at this time • -Based on 13,695,856 average fully diluted common shares

  23. Share Valuation ComparisonsSix Months to June 30 • Price1EPS2 P/E3 • Bonus $3.15 $0.13 24 • Delaney $0.75 $0.02 38 • Integrated Production Svc. $2.48 $0.13 19 • NQL Drilling Tools $8.00 $0.20 40 • Peak $2.32 $0.06 39 • Precision $51.20 $1.04 49 • Ryan $2.75 $-.01 N/A • Tesco $15.75 $0.04 394 • Tetonka $4.60 $0.18 26 • Trican $13.75 $0.31 44 • 1) Closing price on Friday, September 22, 2000 • 2) Earnings per share for the 6 months ended June 30 • 3) Price/earnings ratio for the September 22 price and the June 30 reporting quarter

  24. SCF Financing • $30 million equity financing, 11 million shares at $2.70 per share • Leading international oil service investment bank • Fully diluted shares 26,873,761 - $1.09/share in cash • SCF will own 41% of IPS and hold 2 board seats • Capital to add capacity in all business divisions to exploit high demand

  25. ACTUAL & FORECAST FINANCIAL PERFORMANCE Q1 99 – Q4 01

  26. Industry Conditions • Oil and gas producers (IPS clients) enjoying record cashflow and earnings • Demand for oilfield equipment and services in Q4 2000 and Q1 2001 will be unprecedented • High utilization rates, opportunities to increase prices • Oil prices always open for debate, but the gas business in North America is real for the foreseeable future

  27. The Future • Complete TSE listing • Announce targeted expansion opportunities, acquisitions • Maintain aggressive growth • Raise investor profile • Objective to achieve or exceed average industry trading multiples

  28. INTEGRATED PRODUCTION SERVICES LTD. • “IPL” on CDNX

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