Sprott Global Resource Investments Private Equity. Real Assets.

Long Run Exploration Ltd.

Long Run Exploration Ltd. (“Long Run”) is a publicly traded (TSX:LRE) oil and natural gas company with assets in the Western Canadian prairies. Long Run was formed in October of 2012 through the merger of WestFire Energy Ltd. and Guide Exploration Ltd. The combined company has more than 1.8 million acres of land, 25,300 boe/d of production (52% oil / 48% gas), a large inventory of exploration and development opportunities and $1.3 billion in available tax pools. Long Run began paying a dividend in 2014 and Long Run's management looks to provide a sustainable yield plus growth to its shareholders.

Strong Production Growth

Long -run

Further information on Long Run Exploration Ltd. can be obtained by visiting its website at longrunexploration.com



Q4 2009 (Auriga Energy Inc.)
Q3 2011 (Galleon Energy Inc.)
Q4 2011 (Guide Exploration Ltd.)
Q1 2012 (Guide Exploration Ltd.)

publicly listed (TSX:LRE)

$154.7 million*

28.4%* **

*As of December 31, 2013

**SRC owns 18.3% of Long Run’s common shares outstanding with the remainder held in non-voting convertible shares

Focused on oil and gas production in the Western Canadian sedimentary basin