Otto Energy Limited · ASX:OEL
Otto Energy — Australasian Energy Pacesetters 2010
20 slides from Otto Energy's conference presentation, Aug 3, 2010
Slide 1: Australasian Energy Pacesetters 2010
For personal use only Australasian Energy Pacesetters 2010 Paul G Senycia Exploration Manager
Slide 2: Disclaimer
Disclaimer • This presentation does not constitute an offer to sell securities and is not a solicitation of an For personal use only offer to buy securities. It is not to be distributed to third parties without the consent of Otto Energy Ltd (the “Company”). • This presentation contains forward‐look
Slide 3: Otto's steps to success (2004-2007)
Otto’s steps to success For personal use only • Completed Galoc development – commenced production • Drilled 4 wells in Turkey 2007 • Award of Santa Rosa, Argentina • Award of SC69, Philippines • Second discovery in Turkey: Arpaci • Further 2D seismic in Turkey 2006 • Acquired 100% of NorAsian • 2D
Slide 4: Otto's steps to success (2008-2010)
Otto’s steps to success For personal use only • 3D seismic in SC 55 – 600 km2 and 1,800 km2 • 2D seismic in SC69 – 900 km • Produced 5 million barrels from Galoc oil field • First gas for Turkey achieved in April 2010 2010 • Drilled 7 further discovery wells in Turkey • SC55 contract extension by 88
Slide 5: Company Overview – Asset Base
Company Overview – Asset Base For personal use only Details • 18.78% indirect interest • First Oil ‐ October 2008 Galoc Oil Field • 5.1 million bbls (gross) produced to date Philippines • Current production rate ~8,500 bopd • Phase 2 development evaluation ongoing • 35% interest • Otto’s second prod
Slide 6: Board and Management
Board and Management For personal use only CHAIRMAN RICK CRABB BJuris (Hons), LLB, MBA DIRECTOR DIRECTOR DIRECTOR DIRECTOR RUFINO BOMASANG JAAP POLL IAN MACLIVER JOHN JETTER BSc (Min. Eng), MBE BSc, MSc and PhD Geology B.Com, CA, F Fin, MAICD LLB and BEc, INSEAD B.Bus, CEO PAUL MOORE BSc (Hons) Eng,
Slide 7: Capital Structure
Capital Structure Capital Structure Shareholders For personal use only Fully paid ordinary shares 1,134.5m Molton Holdings 21.3% Unlisted options1 54.75m Santo Holdings 21.3% Market capitalisation2 $97m Directors 5.6% Shareholders ~3,720 Cash (at 30 June 2010) $24.4m Debt (at 30 June 2010) Nil Price
Slide 8: Reserves, Resources and Exploration
Reserves, Resources and Exploration Developing Reserves And Resources Prospect And Lead Inventory For personal use only Otto Net 2P Reserves plus 2C Resources Licence Working Area Prospects/ (MMboe) Interest (km2) Leads As at 30 June 2009 9.00 Philippines 8.00 SC14C (Galoc) 18.78%1 163 3 7.00 6.00 S
Slide 9: Galoc Oil Field – Production Performance
Galoc Oil Field – Production Performance Interest Gross Daily Oil Production For personal use only • 18.8% indirect interest in Galoc Oil Project • Held through 31.4% shareholding in GPC • Operator ‐ Galoc Production Company (GPC) Production • Current rate ~8,500 bopd (gross) • Uptime has improved t
Slide 10: Galoc Oil Field – Development Options
Galoc Oil Field – Development Options For personal use only 29.July.2010 10
Slide 11: Edirne Gas Fields – Second Producing Asset
Edirne Gas Fields – Second Producing Asset Technical/Operational Phase 2 Exploration/Appraisal drilling For personal use only • First sales gas produced 8 April 2010 • Seven well drilling campaign ongoing. • Production of 655 Mscf gross in 2Q 2010 • 7 discoveries to date (229 Mscf net to Otto) • Ave
Slide 12: Philippines Exploration
Philippines Exploration Major Upside Potential Across Multiple Licences For personal use only Philippines Permits Permit Description Otto Working Interest SC55 Deepwater Palawan 85% SC51 East Visayan basin 80% SC69 East Visayan basin 70% SC14C Galoc block 18.8% SC50 Calauit NW Palawan 85% 29.July.20
Slide 13: Philippines Exploration: SC55
Philippines Exploration: SC55 SC55 Prospects And Leads For personal use only Interest • 85% working interest Exploration Program • 600 km2 of 3D seismic acquired Jan 2010, over Hawkeye prospect • Seismic acquisition & farm in option agreement • 1,800 km2 3D seismic program completed • Processing and
Slide 14: Hawkeye Lead and NW Borneo Trend
Hawkeye Lead and NW Borneo Trend Possible GOC ~2800 mSS ~25 km2 For personal use only Lowest Closing Contour Possible OWC ~2880 mSS ~38 km2 Upside Possible OWC ~3000 mSS ~59 km2 Hawkeye Hawkeye Hawkeye (Otto) SC56 (Exxon‐Mobil) 20‐600 MMbbls 20‐600 MMbbl Dabakan‐1 2009 ?Oil Discovery Potential Resou
Slide 15: Philippines Exploration: SC51
Philippines Exploration: SC51 SC51 Prospects and Leads SC51 For personal use only • 80% working interest Vilaba Gas Discovery SC51 North • Argao Prospect in 230m water Maya Field • 3D recorded in 2007 • Drill‐ready prospects Libertad Field • Targetting 100 mmbls POS +/‐ 20% • Seeking partners for dr
Slide 16: SC51 South: The Argao Prospect
SC51 South: The Argao Prospect....targeting 100 MMbbls For personal use only DHI’s Suggest Gas cap Potential Oil Leg 8 levels that could EACH contain 40 - 300 MMbbls in Gas place Cap E‐W SECTION OVER ARGAO 29.July.2010 16
Slide 17: Philippines Exploration: SC69
Philippines Exploration: SC69 SC69 For personal use only • 70% working interest • Proven petroleum system • Large reef structures • Significant Information, Education and Communication campaign with DOE and local communities • 2D seismic acquisition (900 line kms) completed Mar 2010 • Numerous leads
Slide 18: SC69 Numerous Plays in the East Visayan Basin
SC69 Numerous Plays in the East Visayan Basin Top Carbonate (Barili) Depth Structure Map For personal use only Vilaba Gas Discovery SC69 Maya Field Lampos Libertad Field Lampos Toledo Field Malolos Lumpan/Clemtom Field Malabuyoc/South Cebu 29.July.2010 18
Slide 19: 2010 Activities
2010 Activities For personal use only Production in 2010 Forward Activities • Galoc 0.4 mmbbls (net) • Turkey ~ 1.3 Bcf (0.23 mmboe) (net) Development • Galoc production upgrade • Commit to Galoc Phase 2 Exploration + static resources • Turkey Phase 2 exploration • Philippines farm downs • Philippin
Slide 20: Summary
Summary Strategic focus: For personal use only • Production: • Maximise value from Galoc oil project • Commercial production delivered from Edirne gas project • Development: • Explore/appraise in and near field to extend production in Galoc and Edirne projects • Consider possible expansion at Edirne