Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Bell Potter Unearthed Conference 2023
20 slides from Amplitude Energy's conference presentation, February 2023
Slide 1: Bell Potter Unearthed Conference
Biodiversity Project, Coorong, South Australia February 2023 Bell Potter Unearthed Conference
Slide 2: Disclaimer
Disclaimer This document contains summary information about Cooper Energy and its activities as at the date of this document and should not be considered to be comprehensive or to comprise all the information which a shareholder or potential investor in Cooper Energy may require in order to determin
Slide 3: Cooper Energy—snapshot
Cooper Energy—snapshot The pure play on the Australian East Coast gas market Introduction Market capitalisation and share register at 31 Dec 2022 Domestic gas producer supplying structurally short South-east Australia gas market Ticker ASX:COE Net zero since FY20 & certified carbon neutral Numbe
Slide 4: Tightening East Coast Australia gas supply
Tightening East Coast Australia gas supply Attractive gas market dynamics underwriting new developments Southern states forecast supply/demand, ACCC (PJ pa)1, 2 Spot gas prices LTM ($/GJ)3 500 60 Victorian spot price Sydney spot price Southern states demand (2022 GSOO) ACCC forward LNG netback to 37
Slide 5: South Australia electricity supply—last week
South Australia electricity supply—last week SA energy mix is a window to the future, where gas remains key amidst variable renewables South Australian electricity supply by type: 31/01/2023 – 6/02/20231 MW 2,500 Imports Gas Wind Solar 2,000 1,500 1,000 500 0 (500) (1,000) Tue 31/01/23 Wed 1/02/23 T
Slide 6: Cooper Energy—net zero since FY20
Cooper Energy—net zero since FY20 Independently audited and certified by Climate Active Committed to maintaining net zero status via three pillar approach Net Zero Enabler Leverage carbon neutral benefits Differentiated access to capital to fund further growth Partner of choice, attracts new
Slide 7: Cooper Energy—the pure play on Australia's East Coast gas market
Cooper Energy—the pure play on Australia’s East Coast gas market Net zero today and a bias to early life-cycle reserves Gippsland, Otway & Bass Basins, net remaining WoodMac commercial reserves (MMboe)1 Gippsland Basin JV Cooper Energy is the number 3 player, and the only company focused purely on t
Slide 8: Twin hub access, very close to the South-east Australia gas market
Twin hub access, very close to the South-east Australia gas market Strengthened operating expertise across integrated upstream and midstream gas projects Otway Basin Adelaide Gippsland Basin NSW • Cooper Energy – 50% and operator • 100% owned and operated by Cooper Energy Ownership SA Ownership • Mi
Slide 9: Otway Basin gas hub
Otway Basin gas hub Foundation to develop Cooper Energy’s proven and prospective Otway gas portfolio Otway phase-3 development Development of Annie gas discovery 64.8 PJ 2C (100% basis)1 Drilling campaign based around Annie + 2 low-risk exploration wells, close to market and fast tie-back opport
Slide 10: Exploration success rates in the Offshore Otway Basin are world class
Exploration success rates in the Offshore Otway Basin are world class 94% success rate for seismic amplitude supported prospects Waarre Formation seismic amplitude map showing target prospects • 29 exploration wells drilled in the Offshore Otway Basin — 16 gas field discoveries to date (success rate
Slide 11: Gippsland Basin gas hub
Gippsland Basin gas hub Foundation to develop Cooper Energy’s proven and prospective Gippsland gas portfolio Manta Contingent Resource estimates1 1C 2C 3C Gas PJ 78 121 190 Condensate MMbbl 2.2 3.4 5.4 • Future development option, COE interest 100% • Manta-3 appraisal well planned in future campaign
Slide 12: Growth staircase
Growth staircase High value twin hub growth pipeline of producing, development and exploration prospects Annual Production (MMboe)1 121 PJ2 (Manta 2C Contingent Resource) Manta (Gippsland) 286 Bcf3 (Near field exploration, Otway exploration 6 low risk prospects, unrisked P50 Prospective Resource) OP
Slide 13: Appendix
Appendix
Slide 14: AEMO data—2022 integrated system plan for the NEM
AEMO data—2022 integrated system plan for the NEM Gas in the Australian East Coast energy mix Forecast changes in NEM generation (2022 ISP), GW 15 Distributed solar PV NEM represents ~20% of total East Coast demand for gas Storage capacity Today 23 Grid-scale wind & solar in 20221 67 GW 2 Gas & li
Slide 15: Growth pathway: maturing a broad portfolio of opportunities
Growth pathway: maturing a broad portfolio of opportunities High graded exploration and appraisal prospects to feed Cooper Energy’s twin gas hubs Development / Future exploration options1 Near Term Exploration1 Appraisal2 Production3 Higher risk Manta Deep Wobbegong Elanora Heera Lower risk Henry Pe
Slide 16: Reserves and Contingent Resources at 30 June 2022
Reserves and Contingent Resources at 30 June 2022 Summary, refer further to ASX announcement on 22 August 2022 1P (Proved) 2P (Proved & Probable) 3P (Proved, Probable & Possible) Reserves1 Cooper Otway Gippsland Total Cooper Otway Gippsland Total Cooper Otway Gippsland Total Developed Sales gas PJ 0
Slide 17: Cooper Energy tenements
Cooper Energy tenements1 Summary Otway Basin (Victoria and Offshore) Otway Basin (Onshore South Australia and Victoria) Gippsland Basin (Victoria) Cooper Basin (South Australia) 17
Slide 18: Footnotes
Footnotes By page Slide 4 1. Source: Cooper Energy analysis of January 2022 ACCC Gas Inquiry Report 2. Supply includes Cooper Basin, Otway Basin and Gippsland Basin. Demand includes VIC, NSW, SA, ACT and TAS 3. AEMO data 4. Source: ACCC short-term and medium-term LNG netback price series as at 1 Sep
Slide 19: Footnotes (cont'd)
Footnotes (cont’d) By page Slide 14 1. AEMO data 2. Assumes an average NEM-wide heat rate of ~8.6 GJ/MWh 3. Excluding gas that is used for LNG exports Slide 15 1. Bubble size of exploration prospects is based on unrisked mean recoverable resource estimate (Cooper Energy net share) 2. Bubble size of
Slide 20: Notes on calculation of Reserves and Contingent Resources
Notes on calculation of Reserves and Contingent Resources PRMS Cooper Energy prepares its petroleum Reserves and Contingent Resources in accordance with the definitions and guidelines in the Society of Petroleum Engineers (SPE) 2018 Petroleum Resources Management System (PRMS). The estimates of petr
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