Otto Energy Limited · ASX:OEL
Otto Energy — Investor Presentation (May 2011)
24 slides from Otto Energy's investor presentation, May 11, 2011
Slide 1: Investor Presentation May 2011
For personal use only Investor Presentation May 2011
Slide 2: Disclaimer
Disclaimer For personal use only • This presentation does not constitute an offer to sell securities and is not a solicitation of an 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: 2011 The Pivotal Year for Shareholder Value Creation
2011 The Pivotal Year for Shareholder Value Creation For personal use only What When Current Status Complete BHP Billiton Farm-in SC55 Q2 2011 Announced Drill Duhat-1, onshore Leyte Q2 2011 Drilling ahead Galoc Phase 1 (SC14c) Q2 2011 Reserves Upgrade May 2011 Galoc Phase 2 (SC14c) Q3/4 2011 3D Seis
Slide 4: BHP Billiton Farm-in
BHP Billiton Farm-in • Key message: For personal use only o BHP Billiton farm-in to Service Contract 55, Offshore Palawan, Philippines • Key terms: o BHP Billiton to acquire 60% net participating interest, including operatorship of SC55 o Otto to retain 33.18% participating interest after BHP Billit
Slide 5: SC55 Permit Overview
SC55 Permit Overview Joint Venture Partners: For personal use only Name Percentage OEL (through 100% subsidiary NorAsian Energy Ltd) 93.18 Trans-Asia Oil & Energy Development Corporation 6.82 Work Program: Sub-Phase Date Commitment 3 Aug 09 – Aug 11 3D Seismic acquisition 4 Aug 11 – Aug 12 1 Deepwat
Slide 6: SC55 – Carbonate Gas Prospect & Lead Portfolio
SC55 – Carbonate Gas Prospect & Lead Portfolio An impressive portfolio of gas and condensate targets, aggregating into an emerging For personal use only major regional offshore trend, parallel to the island of Palawan, Philippines Total unrisked potential Mean Recoverable Resources (Nido level carbo
Slide 7: SC55 Leading Drilling Candidate – CINCO
SC55 Leading Drilling Candidate – CINCO Malampaya Top Nido Depth For personal use only mss CINCO Map Top Nido 3200 A reefal /platform carbonate complex CI: 200m 3400 3600 3800 4000 CINCO 4200 4400 4600 500 m 4800 Maps of same scale Cinco Prospect (OEL WI post farm-down 33.18%) CINCO 53 km2 Comparabl
Slide 8: SC55 Carbonate Prospect – UNO
SC55 Carbonate Prospect – UNO For personal use only Uno Prospect (OEL WI post farm-down 33.18%) 38 km2 Area of Closure Up to 600m column height UNO Water Depth 960 metres Predominantly Platform Carbonate Objective Depth 3,960 – 4,600 metres Initial Success Case Gross Recoverable Resource Estimate Ga
Slide 9: SC55 Carbonate Lead – TRES
SC55 Carbonate Lead – TRES Early view of a significant lead For personal use only Extension 3D D Tres Lead (OEL WI post farm-down 33.18%) Further work is required to mature to prospect status Circa 60km2 Area of Closure Based on 1,500m column height Water Depth 500 – 1,000 Metres Objective Depth 3,0
Slide 10: SC55 Hawkeye Prospect
SC55 Hawkeye Prospect For personal use only Hawkeye Prospect (OEL WI post farm-down 33.18%) Location Offshore, SW Palawan Hawkeye Prospect Water Depth 1,690 Metres Areal Closure: 50km2 Objective Depth 2,800 Metres 50 km2 Area of Closure Hawkeye Flat Spot Up to 500m column height (DHI) STOIIP 87-484-
Slide 11: Philippines Visayan Exploration
Philippines Visayan Exploration For personal use only 2011 Licence Activity Interpretation/ SC51 Northern Block Prospect Maturation 40% WI 1660km2 SC51 Drill Duhat-1 Currently at 325.4 metres. Drill to TD during May. SC69 79% WI 5280km2 SC69 New Start acquisition early June. 210km² 3D Mature to dril
Slide 12: SC51 Duhat-1 Drilling Now
SC51 Duhat-1 Drilling Now For personal use only Duhat-1 will be the first valid structural test conducted on the island of Leyte, Duhat-1 14.5 km2 370m closure an area of well-known and documented oil seeps. Follow-up Duhat-1 Prospect: Drilling the San Isidro Anticline Structures (OEL WI post farm-d
Slide 13: SC69 Maturing to drillable status with 3D seismic
SC69 Maturing to drillable status with 3D seismic OEL WI 79% Lampos Lampos South For personal use only Location Off-shore Visayan Basin Duhat-1 Presently Drilling Water Depth 740 Metres 714 Metres Objective Depth 1,250 Metres 1,350 Metres Closure Area 14.2 km2 9.8 km2 Closure Height 300m 330m STOIIP
Slide 14: Philippines: Field Commercialisation concepts
Philippines: Field Commercialisation concepts For personal use only Otto Energy Acreage Prospects & Leads Development Alternatives: SC51 Northern Block >1.5 Tcf Floating LNG 40% WI 1660km2 >4.0 Tcf Shore based LNG Galoc 18.78% WI 163km2 Development Alternatives: High Philippines domestic SC69 Lampos
Slide 15: Production Asset: Galoc Field SC-14c
Production Asset: Galoc Field SC-14c Offshore NW Palawan Background For personal use only • OEL 18.78% Indirect Investment (Held via 31.38% interest in GPC which has a 59.84% interest in the Galoc Black SC14C) • Operator : Galoc Production Company WLL (GPC) • Discovered in 1981, production commenced
Slide 16: Production Asset: Galoc Field
Production Asset: Galoc Field Reserves upgrade and improved uptime Production Q1 2011 Update Net OEL Share For personal use only Current rate ~7,000 bopd Production 122,361bbls Production to date 6.92 MMbbls Liftings 132,594 bbls Revenue, Costs and Netback Cash receipts from GPC US$5.93million Last
Slide 17: Galoc: Phase Development and Near Field Exploration
Galoc : Phase 2 Development and Near Field Exploration Phase 2 Galoc North Prospect: For personal use only • Phase 2 evaluation ongoing • Areal Extent ~12km2 • Potentially involves between 1 and 3 new wells • Potential HC Column ~240m • 5km tie-back to existing facilities and mooring system upgrade
Slide 18: Business Development: East Africa onshore focus
Business Development: East Africa onshore focus For personal use only Strategy: • Recent large oil and gas discoveries in the East Africa area • Play type complements Otto’s portfolio • Provides onshore low-cost ground floor exploration • Expressions of interest made for permits in • Kenya • Burundi
Slide 19: 2011 The Pivotal Year for Shareholder Value Creation
2011 The Pivotal Year for Shareholder Value Creation For personal use only What When Current Status Complete BHP Billiton Farm-in SC55 Q2 2011 Announced Drill Duhat-1, onshore Leyte Q2 2011 Drilling ahead Galoc Phase 1 (SC14c) Q2 2011 Reserves Upgrade May 2011 Galoc Phase 2 (SC14c) Q3/4 2011 3D Seis
Slide 20: Thank-you
For personal use only Thank-you Appendices: Otto Energy 32 Delhi Street • Capital Structure West Perth • Cash Position Western Australia 6005 • Board and Management Team Telephone: +61 8 6467 8800 Facsimile: +61 8 6467 8801 info@ottoenergy.com 20
Slide 21: Capital Structure
Capital Structure Capital Structure Shareholders For personal use only Fully paid ordinary shares 1.13b Molton Holdings 21.3% Unlisted options1 58m Santo Holdings 21.3% Directors 3.9% Performance Rights 10m Shareholders 3,351 Market capitalisation2 108m Cash (at March 2011) $34.4m Debt (at March 201
Slide 22: Cash position at a US$34 million high
Cash position at a US$34 million high For personal use only End Q1 2011 End Q4 2010 End FY 2009 Actual Actual Cash in Bank (US$m) $34.4 $29.8 $10.5 Debt (US$m) $0.0 $0.0 $0.0 40 35 30 25 20 15 10 5 0 End Q1 2011 End Q4 2010 End FY 2009 22
Slide 23: Board and Management Team
Board and Management Team For personal use only MANAGING CHAIRMAN DIRECTOR RICK CRABB PAUL MOORE BJuris (Hons), CFO AND COMPANY BSc (Hons) Eng, MBA DIRECTOR LLB, MBA DIRECTOR SECRETARY C.Eng FIMMM, FAICD IAN BOSERIO MATTHEW ALLEN JOHN JETTER SPE member BSc Hons LLB and BEc, B.Bus, CA, F.Fin, MAICD (
Slide 24: Management Team
Management Team Paul Moore, Managing Director For personal use only • Paul Moore has been employed in the Exploration and Production business for 29 years. He has previously been employed by Woodside Energy Ltd, Santos, Fletcher Challenge Energy and Shell. Paul has a track record in leadership of ma