Karoon Energy Ltd · ASX:KAR

Karoon Energy — Karoon Gas Australia — Investor Presentation (April 2005)

23 slides from Karoon Energy's investor presentation, Apr 21, 2005

  1. Slide 1: Karoon Gas: Acreage Position and Value Potential

    ==" Karoon Gas SAEO2N Acreage Position and Value Potential -Browse Basin WA-314-P & WA-315-P -Gippsland Basin PEP 162 & EL4537 - APRIL 2005

  2. Slide 2: Karoon Snapshot

    Karoon Snapshot Karoon Gas Australia is was floated on the ASX on the 9th of June 2004. 41.66 million shares and 20.8 million 20cent options expiring 30' June 2006. Browse Basin Acreage Share price has been largely driven by Browse Basin acreage activity; «Acquired WA-314-P and WA-315-P form Liberty

  3. Slide 3: WA-314-P & WA-315-P

    WA-314-P & WA-315-P

  4. Slide 4: Scott Reef / Brecknock gas/condensate fields

    WA-314-P & WA-315-P The Right Place Scott Reef / Brecknock giant Gas/condensate fields 21tcf P50:‘reserves ‘Gas Aawtalia Ld |

  5. Slide 5: Acreage Work Program minimum requirements for each permit

    WA-314-P & WA-315-P The Right Place Acreage Work Program minimum requirements for each permit Karoon has been granted permit extensions in Year-2 and has to complete the 3D seismic work program by the 11" of May 2005. Another 6 month extension is pending. Year of Permit Permit Year | Minimum Work Es

  6. Slide 6: Mapping results

    WA-314-P & WA-315-P The Right Place SBHESO ShOSS0 Pains wer aeat TEE Mater _ Deets) ee 4 Mapping results Seven large high relief leads with areas ranging from 60 to 350 square km. 855417044 3°5'q" ass4170 AS44420: on ; j E\1 The.same play type as Scott-Reef i ha immediately to the south. The map is

  7. Slide 7: Seismic dip line NW-SE

    WA-314-P & WA-315-P The Right Place oe aun nae teat Ceo tls LA cy vc “Seismic dip line NW-SE. —w/ indicative

  8. Slide 8: Prospect gas in place and recoverable potential

    WA-314-P & WA-315-P The Right Place ‘otent Gas In Place Gas Recoverable Condensate Most Likely High Cage Water Prospect Risk Mast High Most High Lowe High High Prospect Depth = Area Ranking] | Likely Case | Likely = Case Rate Rate | LowRate Rate 19bbls! 43bbls/ | 19bblsfm 43bbls/ mmscf ommscf |} oms

  9. Slide 9: Prospect Lead-A

    WA-314-P & WA-315-P The Right Place Prospect Lead-A Lead-A Cases Most likely High case Water depth. {m)} 500 500 Top depth{mss} 3925 3925 Spill point {mss} 4450 4450 Trap height {m} 525 S25 Area {Km sq.} 280 280 GRV im} 3.5000E+10 G.0000E+10 Porosity fave} 8.12 @.16 Net to Gross 8.65 8.75, Gas satur

  10. Slide 10: Lead A

    WA-314-P & WA-315-P The Right Place Lead A > BRU 1ee a | 3s Amtrak Ltd

  11. Slide 11: Up Dip Buffon

    Up Dip Buffon WA-314-P & WA-315-P The Right Place Prospect Updip Buffon Cases. Most likely High case Water depth {my 575 575 Top depth{mss} 3875 3875 Spill point {mss} 4450 4450 Trap height {m} 875. 575 Area {Km sq.} 70 82 GRY¥ {m*y 1.7553E+10 1.7553E+10 Porosity {ave} 0.12 0.16 Net to Gross. 0.65 0

  12. Slide 12: Prospect Lead D

    WA-314-P & WA-315-P The Right Place At 43 stbbis/MMscf (Buffon-1 DST) Prospect Lead D Cases Most likely (P50) High case {P10} Lead-D Water depth {m} 480: 480 Top depth{mss} $440 4440 Spill point {miss} 4660 4660 Trap height (im) 220 220 Area {Km sq.) 132.6 132.6: GRV ¢m*} 7 OTS8E+09 7 O738E+09 Poros

  13. Slide 13: Key Timing Factors: oil and gas liquids

    WA-314-P & WA-315-P The Right Time Key Timing Factors OIL AND GAS LIQUIDS 2004 Scanario *LNG and condensate prices and market forecasts «Competitor movements Farmin Interest father tharreie 4 eer Hays THE GROWING GAP Regular Oi Vit) MO Inia 60 a i WAR South Korea 50) £2 Past Diseavery | 8 Taiwan Cl

  14. Slide 14: Markets and development opportunities

    WA-314-P & WA-315-P The Right Time Markets and development opportunities With Asia-Pacific demand for LNG rising strongly, Karoon Gas believes that large gas accumulations in offshore Western Australia can be commercialised readily over the next decade. In the current global environment, large accum

  15. Slide 15: BG is the right partner

    WA-314-P & WA-315-P The Right Partner BG is the right partner |

  16. Slide 16: Maximized shareholder value: LNG economic and market summary

    WA-314-P & WA-315-P Maximized shareholder value LNG economic and market summary Assuming a reserve of 4TCF and annual production of 4 million tons LNG and 3.8 million bbis of condensate, Project value is between A$6.8 and A$8. 5 billion. ‘Australia uses approx 1 TCF per Year with approx wholesale va

  17. Slide 17: Slide 17

  18. Slide 18: Gippsland Basin EL 4537 & PEP162

    Gippsland Basin EL 4537 & PEP162 KAROON GAS AUSTRALIA PTY LTD - PEP 162 & EL 4537 EXPLORATION PERMIT COMMITMENTS AND ACTIVITY TIME LINE Year 2000 ane 28 204 05 2006 ne? Month MJ JASOND/JFMANJ JASONDJFNAN J JASONDJFMAMJJASONDJ FMAMJJASONDIFMANS JASONDIJFMAMJJASOND PEP162 Year-t Year-2 Year-3 (month e

  19. Slide 19: Gippsland Basin EL 4537 & PEP162

    Gippsland Basin EL 4537 & PEP162 ches

  20. Slide 20: Megascolides-1 well results - Oil zone

    Gippsland Basin EL 4537 & PEP162 Megascolides-1 well results - Oil zone im CRoeOOlt SW -SSS OL SPHIE-SSS 0/0 UCL -SSS i/1, 9SRHO8-2, 95) i DI 00/1 SHT.-SSS_ 0). SPHIT-Sss Oo UST --8So°) i) 46 HTNP =) 16 USAN- =553 A> ZS HDRA_.. 25 «good fluorescence and high mud gas. readings in Crayfish Gp equivale

  21. Slide 21: Megascolides-1 well results - Oil zone

    Gippsland Basin EL 4537 & PEP162 Megascolides-1 well results - Oil zone Interval PHIE cut-off | Gross Net PHIE av | Vclav Swe av m % m m % % % 1883-1886 12.00 3.00 2.39 13.75 20.87 59.82 10.00 3.00 2.74 13.44 21.32 61.97 9.00 3.00 2.79 13.37 21.13 62.66 8.00 3.00 2.90 13.21 20.78 63.97 1888-1891 0.1

  22. Slide 22: Updip Megascolides prospect volumetric estimates

    Gippsland Basin EL 4537 & PEP162 Megascolides-1 well results - Oil zone Top Crayfish Group Equivalent Depth (Previous Mapping) & Updip Megascolides-1 Lead UPDIP MEGASCOLIDES PROSPECT VOLUMETRIC ESTIMATES I Most likely L_High Case Top depth (m) 1783.00 1783.00 Spill point (m) 1883.00 1883.00 Trap hei

  23. Slide 23: Megascolides - CBM Results

    Gippsland Basin EL 4537 & PEP162 Megascolides 1 — CBM Results Total black coal intersected in well -15m Maximum thickness approx. 0.5m (clean coal) Gas content 100 scf per ton Gas saturation approx. 30% The well was successful in identifying gas bearing coals in the Narracan Trough. The coals at thi

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