Otto Energy Limited · ASX:OEL
Otto Energy — Shareholder Meeting (November 2006)
25 slides from Otto Energy's shareholder meeting presentation, Nov 9, 2006
Slide 1: Annual General Meeting - Presentation
OTTO ENERGY 9 November 2006 Manager of Company Announcements Australian Stock Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 ANNUAL GENERAL MEETING - PRESENTATION Please find attached the presentation for the Annual General Meeting to be held at 2pm today at the Celtic Club, 48 Ord Stree
Slide 2: Corporate & Project Update
ENERGY CORPORATE & PROJECT UPDATE
Slide 3: Disclaimer
DISCLAIMER This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy oa lt is not to be distributed to third parties without the consent of Otto Energy Ltd. (the “Company”). This presentation contains forward-looking statements that are not based
Slide 4: Corporate
CORPORATE BOARD Rick Crabb - Chairman (non Exec) Jaap Poll - Executive Director lan Macliver — Director (non Exec) Rufino Bomasang — Director (non Exec) EXECUTIVES Alex Parks — CEO (from 4 Dec 06) Bruce Elsholz - CFO Nicki Telfer — Company Secretary ASX listing Dec 04 (Code: OEL) Website www.oltoene
Slide 5: Options Performance
Options Performance (20c/1 Dec 06) Shares Issued 117,144,375 67,015.300 2,500,000 Market Cap $22m @iacps Cash $1.5m Note: 2M shares + 1M options (20c, 1/12/06) on re-entry of Calauit and 10 M shares + 20 M aptions (20c, 31/12/07) on Calauit producing 1 M barrels of oll — to project vendors
Slide 6: Corporate Structure
CORPORATE STRUCTURE 65-80%
Slide 7: NorAsian - Licence Map of Philippines
ie Le ee NorAsian - Licence Map of Philippines
Slide 8: Why offshore Philippines?
Why offshore Philippines ? — proven hydrocarbon provinces with nearby energy markets —- awell respected management team in Manila — low sovereign risk to oil industry - renewed interest by foreign companies (new applications and farmins) Otto now has operational control over 3.75 million acres — one
Slide 9: EPS Field Layout
EPS Field Layout Calauit $C50, Showing Regional Calauit “Early Production System” Oil & Gas Fairway
Slide 10: Calauit project economics
THE PrILIPP 100% OEL (65%) Barrels in Place 39.4 mmbo 25.6 mmbo Recoverable Reserves 6.6 mmbo 4.3 mmbo Total CAPEX US$20 m US$8 m (ex carry) Total REVENUE US$ 283 m US$184 m Calauit is Brent — 15% US$ 340 m US$ 221m ®US$50 Brent US$ 396 m US$ 257m #US$60 Brent #US$70 Brent NET CASH FLOW #®US$50 Bren
Slide 11: Calauit Field - Well Production Profile
CALAUIT FIELD ~ 3 Well Si ie Total Fluid Production Rate bopd OPT Cumulative Oi] Production (MMbb1)} “40 Three Well Development OPH wil peodwction rate: PE water Oit Production Profile proctuctinn rate: OPT = cumutative oil preducet {Oil Gravity 23.7 API)
Slide 12: Prospect Details - SC51 Leyte Block
PINES RC SPECT DETAILS East Visayan Basin SC51 - $C51, Leyte Block — E-W Seismic Section of Licence Location Map Villaba Gas Discovery & Adjacent Reef Prospects
Slide 13: Prospect Details - Cabilao Reef Prospect
PINES SPECT DETAILS (oarr.} CABILAG REEF PROSPECT $C51, Cebu Block E-W Seismic Section showing Argao & Cabilao Prospects - Prospect Map with hydrocarbon indicators (“amplitude anomalies and bright spots”) OTTO
Slide 14: Prospect Details - SC55 Marantao
D PHEIP RIMES SPECT DETAILS ‘cont) “aes Marantao Lead. RIZAL LEADS SC55, Ultra Deep Water Blocks Giant Marantao Reef Prospect (5 x Malampaya size) multiple play-types & leads with gas chimney and seabed oil and gas seeps identified 460 km Marantao 2D shot Oct 2006 OTTO
Slide 15: Seismic Program
Seismic Program Total = 400 km. Depth Map C.L. =100 meters '
Slide 16: Ultra Deep Water - SC55 Summary
SC 55 Ultra Deep Water. License Shell/Conoco Phillips discovery Murphy's "mf ‘Deep Water “ Discoveries : | Olishore Malaysia SUMMARY - SC55 SC 56 lies in the main oil fairway ‘as the giant “Malampaya Field to the north and the giant oil discoveries made by Murphy. and Shell / Conoco to the south. Oi
Slide 17: Operator TransAsia's reserve estimates
Operator TransAsia’s reserve estimates Potential Recoverable Reserves mmbo (Otto share) Mean SC 51 Argao Prospect 423 (61.5mmbo) Bahay Lead 25 (12.5 mmbo) Cabilao lead 84 (42 mmbo) Total SC 51 232 (116 mmbo) SC 55 Marantao Prospect (Otto 55%) (Otto 25%) 1,245 (685 mmbo) (341 mmbo)
Slide 18: Turkey - Project Overview
Turkey PROJECT OVERVIEW Satellite Photo - Licence location and infrastructure of Thrace Basin cP Western Turkey & Thrace Basin OTTS
Slide 19: Turkey - Thrace Basin Edirne Licence
Turkey TAMACE BASIN « EDIRNE LICENGE Bati Umur-1 first well gas discovery Dec. 2005
Slide 20: Turkey
Turkey SF Sess ws “ Cr isgotadiin &
Slide 21: Program
~ PROGRAM _ ‘Seismic Sep - Nov 06 ‘Drilling 2 wells Dec 06 ~ Jan 07 ‘Testing Up to 4 wells Jan/Feb 07
Slide 22: Argentina - Project Overview
=CT OVERVIEW % peromrnenannanmesnasatss ean suits PRODUCING oH BASING ARGENTINA \iatginie. ‘iertcnsioccsteon® oad OTTO acquires 32.48% in 200 million barrel potential SantaRosadome = ¢yrr¢y
Slide 23: Argentina - Cuyana Basin & Santa Rosa Dome
ARGENTINA CUYANA BASIN & SANTA ROSA DOME -- _# pitlon Boa: ‘pradunsit . ~. . * * = i . : ; 200 million be. patential q000m Santa Rosa Dome West “EAST E-W profile showing oil fields in western part of basin, source beds in basin center and likely migration paths eastwards towards the Santa Rosa dome
Slide 24: Summary
SUMMARY Otto has built a balanced E&P portfolio in proven oil & gas basins ® LOW RISK - MODERATE REWARD * high gas prospectivity, first well gas discovery, 2006/07 farmout carry 15% for AG$3m, seismic and drilling in 2006/07 aiming for gas commerciality and production in late 2007 ® MODERATE RISK -
Slide 25: Company Objectives
COMPANY OBJECTIVES #» Otto aims to create wealth for shareholders from exploration and production activities worldwide, through: Investments in proven oil provinces with existing infrastructure, good legal and commercial framework and acceptable sovereign risk Working towards early cash-flow to sust