Corporate Presentation

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Corporate Presentation

• Spring 2003

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Disclaimer
This presentation contains forward-looking
statements based upon current expectations that
involve a number of business risks and
uncertainties. The factors that could cause
results to differ materially include, but are not
limited to, national and economic conditions, oil
and natural gas prices, weather conditions and
the ability of oil and gas companies to raise
capital or other unforeseen conditions which
could impact on the use of services supplied by
the Corporation.
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Agenda
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Corporate Profile

• Oilfield services
• Drilling
• Oilfield rentals
• Well servicing
• Production testing
• Mechanical wireline
• Underbalanced drilling
• Manufacturing
• Operates in Canada, the United States and
  internationally
• 6,000 personnel worldwide

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Current Operations
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Commitment to Customer Service

• Committed to providing a safe working environment
• Focus on recruitment, training and personnel
  development
• In-house engineering expertise
• Design and construction of specialty equipment
• Equipment maintained to highest standards

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Agenda
C A N A D I A N O P E R A T I O N S
U N I T E D S T A T E S O P E R A T I O N S
I N T E R N A T I O N A L O P E R A T I O N S
F I N A N C I A L O V E R V I E W
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Canadian Operations
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Canadian Drilling Inventory
Total 144 Rigs
82 Rigs
32 Rigs
30 Rigs
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Canadian Drilling
Ensign Drilling / Tri-City Drilling / Champion
Drilling

• Whats new
• Electric double with automated pipe handling
• Drilling in the Arctic
• ADRTM

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Underbalanced Drilling Services
Enhanced Drill Systems

• 14 underbalanced drilling units
• Whats new
• Built 2 new units
• Incorporating use of Interactive-Process-Control
  technology
• Proprietary solids settling tank system

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Oilfield Equipment Rentals
Chandel Equipment Rentals

• Extensive inventory of specialty drill pipe,
  BOPs, loaders, tanks, pumps and rig matting
• Whats new
• Acquisition of Canadian Select Energy West assets

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Canadian Well Servicing Inventory
Rockwell Servicing Partnership
139 Service Rigs
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Canadian Well Servicing
Rockwell Servicing Partnership

• Whats new
• Consolidated all well servicing operations under
  Rockwell banner
• Training project in the Arctic
• 10 free-standing conversions in 2002
  (27 in total)

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Manufacturing and Production Services
Opsco Energy Industries

• 35 wireline units, 41 gas test units and
  manufacturing facility
• Whats new
• Services provided in the Arctic
• Expansion of wireline through acquisition of
  assets of Freedom Wireline Ltd.
• Proposed expansion through construction of
  manufacturing facility

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Future Growth Strategy
Canadian Operations

• Continued consolidation
• Specialty equipment
• ADRTM
• New frontiers
• Arctic

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Agenda
C A N A D I A N O P E R A T I O N S
U N I T E D S T A T E S O P E R A T I O N S
I N T E R N A T I O N A L O P E R A T I O N S
F I N A N C I A L O V E R V I E W
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United States Operations
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United States Drilling Inventory
Caza Drilling Inc. / Caza Drilling (California)
Inc.
40 Rigs
12 Rigs
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United States Drilling
Caza Drilling Inc. / Caza Drilling (California)
Inc.

• Whats new
• Acquisition of 3 drilling rigs from Westport Oil
  and Gas Company, L.P.
• Redeployment of existing rig from Canada under
  long-term contract

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Future Growth Strategy
United States Operations

• Continued consolidation
• Review possible expansion into new markets
• Continued redeployment of existing rigs and
  equipment to maximize efficiency and utilization
  rates

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Agenda
C A N A D I A N O P E R A T I O N S
U N I T E D S T A T E S O P E R A T I O N S
I N T E R N A T I O N A L O P E R A T I O N S
F I N A N C I A L O V E R V I E W
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International Operations
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International Oilfield Services Inventory
Oil Drilling Exploration Limited
29 Rigs
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International Oilfield Services
Oil Drilling Exploration Limited

• Whats new
• ODE acquired in July 2002
• Successful integration with Ensign Group
• Contract in Mozambique in March 2003

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Future Growth Strategy
International Operations

• Continued consolidation
• Aggressively pursue long-term international
  contracts
• Potential for redeployment of existing rigs and
  equipment from other divisions
• Use of North American expertise and technology

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Agenda
C A N A D I A N O P E R A T I O N S
U N I T E D S T A T E S O P E R A T I O N S
I N T E R N A T I O N A L O P E R A T I O N S
F I N A N C I A L O V E R V I E W
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Trading Data

• TSX ESI
• Common shares outstanding 74,750,000
• Market capitalization 1.4 billion
• Dividends
• 2000 0.1717 per share
• 2001 0.1967 per share
• 2002 0.2050 per share
• 2003f 0.2200 per share

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Revenue
millions, years ended December 31
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Revenue
Geographic Segmentation
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EBITDA
millions, years ended December 31
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Income
millions, years ended December 31
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Debt to Equity
millions, years ended December 31
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Return on Equity
percent, years ended December 31
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Why Ensign is a Solid Investment

• Diverse operations
• Opportunistic growth strategy
• Commitment to safety and customer service
• Financial strength and discipline

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www.ensigngroup.com