Lakes Blue Energy Nl · ASX:LKO
Lakes Blue Energy Nl — Lakes Oil N.L. — Shareholder Meeting (December 2019)
26 slides from Lakes Blue Energy Nl's shareholder meeting presentation, Dec 19, 2019
Slide 1: Chairman's Address, Annual General Meeting
ASX Announcement Lakes Oil N.L. Annual General Meeting Addresses from the Chairman and the CEO Chairman’s Address, By Richard Ash: personal use only A.C.N. 004 247 214 This has been a challenging year but still one that has seen Lakes achieve a substantial Lakes Oil N.L. amount. We are a group that
Slide 2: Presentation to Annual General Meeting
1 For personal use only Lakes Oil NL Presentation to Annual General Meeting Roland Sleeman 19 December 2019
Slide 3: Highlights
Highlights For personal use only • Acquisition (majority) of Rawson Oil and Gas completed. Diversification of Exploration Portfolio.
Slide 4: Diversified Portfolio
Diversified Portfolio For personal use only Resource Potential* Victoria2,3 11.7 Tcf South 28.5 Bcf (net) Australia1 55 Bcf Queensland4 4.4 MMBbl PNG5 3.3 Tcf
Slide 5: Highlights
Highlights For personal use only • Acquisition (majority) of Rawson Oil and Gas completed. Diversification of Exploration Portfolio. Nangwarry Drilling underway - first of two targets about to be intersected.
Slide 6: PEL 155, South Australia (Otway Basin)
PEL 155, South Australia (Otway Basin) For personal use only • Proven Hydrocarbon Province • Drilling underway at Nangwarry 28.5 Bcf net potential recoverable gas1 Spudded 2 December 2019 2 target horizons Potentially complete by year-end • Joint venture with Vintage Energy • Government Gran
Slide 7: Nangwarry-1 Exploration Well
Nangwarry-1 Exploration Well For personal use only Easternwell Rig 106, on-site Time v’s Depth (19 Dec.)
Slide 8: Nangwarry Prospect
For personal use only Nangwarry Prospect
Slide 9: Nangwarry – Broader Otway Significance
Nangwarry – Broader Otway Significance For personal use only Nangwarry-1 Well (approx. location) Portland Energy Project (proposed wells) Otway-1 Well (proposed) Astral-1 petroleum system, published by Geoscience Victoria, with areas of peak hydrocarbon generation shaded green.
Slide 10: Highlights
Highlights For personal use only • Acquisition (majority) of Rawson Oil and Gas completed. Diversification of Exploration Portfolio. Nangwarry Drilling underway - first of two targets about to be intersected. PNG tenure confirmed and extension of term pending.
Slide 11: Papua New Guinea
Papua New Guinea For personal use only • Immediate focus is PPL 560 – Buna Prospect, 3.3 Tcf (P50 recoverable resource)5 • AVO flat spots on seismic are reliable hydrocarbon indicators • Value-realising opportunities (eg farm-out or partnering) being investigated
Slide 12: Highlights
Highlights For personal use only • Acquisition (majority) of Rawson Oil and Gas completed. Diversification of Exploration Portfolio. Nangwarry Drilling underway - first of two targets about to be intersected. PNG tenure confirmed and extension of term pending. Victorian Moratorium to end mid
Slide 13: Victoria
Victoria Victorian Onshore Exploration moratorium ends mid 2020 For personal use only • • Lakes Oil is the major onshore Victorian exploration company • Prospects awaiting drilling
Slide 14: Wombat Gas Field – Gippsland Basin
Wombat Gas Field – Gippsland Basin Significant gas resource already demonstrated. For personal use only • • Wombat-5 well is ready for drilling. Lateral well targeting conventional potential of Strzelecki Formation. 10 TJ/day gas flow rate independently predicted2 Government approval sought pr
Slide 15: Otway-1 Gas Well – Otway Basin
Otway-1 Gas Well – Otway Basin Conventional well ready to be drilled For personal use only • • Well targets Waarre Sandstone and Eumeralla Formation • Waarre Sandstone is basis for adjacent, historic gas production • Eumeralla Formation is known to contain and has flowed gas • Drilling approval was
Slide 16: Portland Energy Project – Otway Basin
Portland Energy Project – Otway Basin For personal use only • Massive potential – scale comparable to the Bass Strait. • All historic wells intersecting Eumeralla Formation showed gas. • Focus area identified for conventional pursuit. • Sites selected for 2 proof of concept wells. • Potential for la
Slide 17: Victorian Potential
Victorian Potential* For personal use only Independently Estimated Potential Prospect Annual Total Wombat (PRL 2) 2 329 Bcf (2C) 20 Bcf Trifon-Gangell (PRL 2) 2 390 Bcf (2C) PEP 175 Focus Area3 ~150 Bcf >11 Tcf (P50) Otway-1 (PEP 169) in-house estimate 3-5 Bcf TBD TBD PRL 2 potential alone is 5 to 1
Slide 18: Highlights
Highlights For personal use only • Acquisition (majority) of Rawson Oil and Gas completed. Diversification of Exploration Portfolio. Nangwarry Drilling underway - first of two targets about to be intersected. PNG tenure confirmed and extension of term pending. Victorian Moratorium to end mid
Slide 19: Highlights
Highlights For personal use only • Acquisition (majority) of Rawson Oil and Gas completed. Diversification of Exploration Portfolio. Nangwarry Drilling underway - first of two targets about to be intersected. PNG tenure confirmed and extension of term pending. Victorian Moratorium to end mid
Slide 20: Capital Raising
Capital Raising For personal use only A tranched placement of up to A$6.03m by the issue of up to 6,700,000,000 Offer Structure and Size Unlisted Convertible Notes* to sophisticated and professional investors Issue Price/ Face Value $0.0009 per Note Maturity Redeemable on 31 December 2021 15% pa (pa
Slide 21: Lakes Oil NL
For personal use only Lakes Oil NL
Slide 22: Reference Information: Eastern Australian Gas Market
For personal use only Reference Information Eastern Australian Gas Market
Slide 23: East Coast Australia Gas Supply and Demand
East Coast Australia Gas Supply and Demand For personal use only Source: Gas Statement of Opportunities, Australian Energy Market Operator, 2019
Slide 24: East Coast Australia Gas Pricing
East Coast Australia Gas Pricing For personal use only Outlook is for sustained high gas prices Source: Gas Statement of Opportunities, Australian Energy Market Operator, 2019
Slide 25: Sources of Information
*Sources of Information All estimates have been prepared in accordance with the Petroleum Resources Management System (‘PRMS’) established by the Society of Petroleum Engineers (‘SPE’), 2007, and Guidelines for Application of the PRMS (SPE, 2011). All estimates are reported in For personal use only
Slide 26: Disclaimer
Disclaimer For personal use only This document is not a recommendation, offer or invitation by any person to any person to sell or apply for securities in the Company and does not constitute financial product advice. The document is not a prospectus under Australian law or under any other law. It is