Grande Prairie

Trilogy’s annual production from the Grande Prairie area decreased from 2,210 Boe/d in 2014 to 1,584 Boe/d in 2015, reflecting the decrease in capital spending from approximately $20 million in 2014 to approximately $1.7 million in 2015. The decreased capital spending and resulting production decline reflects Trilogy’s efforts to preserve its most economic projects until commodity prices improve. Trilogy remains optimistic regarding the future development of the Grande Prairie area when pipeline and infrastructure capacity becomes more available. At the same time, the Company will continue to evaluate opportunities to generate additional value from these assets, which may include asset dispositions.