Sprott Global Resource Investments Private Equity. Real Assets.

Long Run Exploration Ltd.

Long Run Exploration Ltd. (“Long Run”) is a publicly traded (TSX:LRE) intermediate oil and natural gas company focused on development, exploration and production in the Western Canadian Sedimentary Basin. Long Run is guided by a strong management team with a proven track record of delivering organic growth; growth through acquisition and optimization; and implementing new technology in resource plays and enhanced recovery.

Long Run targets a production mix balanced between oil, liquids and natural gas and its activities are concentrated in Long Run’s core areas which include the Peace River Montney (“Peace River”), the Redwater Viking (“Edmonton Area”), the Boyer Blueksy (“Northern Gas”) and the Deep Basin Cardium.  The Deep Basin Cardium core area was acquired by Long Run in 2014 through two strategic acquisitions. The Deep Basin transactions provide a key entry point into the Pine Creek, Kakwa and Wapiti areas of Alberta and add ownership of gathering and processing infrastructure.

Long -run


Long Run has assembled a large land position and is continuing to add oil and natural gas infrastructure in their key areas, providing flexibility for future growth and development. Through controlled exploitation, enhanced recovery and selective low risk exploration, Long Run strives to maximize operating and cost efficiencies. 


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



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

Public TSX:LRE

$99.8 million*


Total Investment: $154.7 MM
Realized proceeds:      $74.7 MM
Unrealized Value: $18.2 MM1
Timeline: 2009-Present
IRR: -11%


*As of June 30, 2015. Includes all dividends received.
1. Based on closing price of $0.79 per common share on 6/30/2015. Internal rate of return (“IRR”) is a non-IFRS performance measure and should not be considered in isolation or as a substitute for any other financial information prepared in accordance with IFRS. IRR does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers.


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