Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — Investor Presentation (October 2015)
30 slides from Melbana Energy's investor presentation, October 2015
Slide 1: Investor Presentation October 2015
Investor Presentation October 2015
Slide 2: Corporate Overview
Corporate Overview 2 MEOAustralia
Slide 3: Company Overview
Company Overview Historical Share Price (12 months) MEO Australia Limited (ASX: MEO) 3 15 Millions Volume Share Price (cents) Share Price (as at 19 October 2015) $0.016 2.5 Closing Share Price (cents) 13 11 Shares On Issue 750.5m 2 9 Options On Issue (exercise price $0.50) 9.4m 1.5 7 5 Share Perform
Slide 4: Board & Management
Board & Management New leadership under MD Peter Stickland and new Board Board of Directors Peter Stickland Andrew Purcell Michael Sandy Greg Short Stephen Hopley Managing Director Non-Executive Non-Executive Non-Executive Non-Executive & CEO Director – Director – Chairman – retiring Director – not
Slide 5: Investment Highlights: Onshore Assets
Investment Highlights Diverse, high impact portfolio Cuba (MEO 100%)* • Early mover advantage in Cuba - Secured “Block 9” covering 2,380km2 onshore • Cuba boasts exceptional oil and gas prospectivity • Limited use of modern day exploration technologies Onshore Assets • Natural oil seeps and several
Slide 6: Investment Highlights: Key Offshore Assets
Investment Highlights Diverse, high impact portfolio Australia Darwin Beehive Prospect (MEO 100%) PETREL • One of Australia’s largest offshore oil prospects FRIGATE TERN Multi billion barrel potential Beehive Key Offshore Assets • Prospect BLACKTIP • Shallow water, suitable for lower cost jack-up dr
Slide 7: Cuba
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Slide 8: Why Cuba?
Why Cuba? MEO has early mover advantage into this significantly under explored region • Cuba has excellent oil & gas prospectivity North Cuba Basin - Significant undiscovered potential - Currently producing ~80,000 boe per day - Varadero field: >11 billion barrels OOIP • US embargo of Cuba in place
Slide 9: Cuba Block 9: Positioning and Prospectivity
Cuba Block 9: Positioning and Prospectivity Oil rich area with very significant potential Positioning • Awarded Block 9 PSC (MEO 100%*) in September 2015 • Onshore, 2,380 km2, close to infrastructure • Block 9 lightly explored but contains natural oil seeps and has several small oil discoveries Pros
Slide 10: Cuba Block 9: MEO Strategy and Value Drivers
Cuba Block 9: MEO Strategy and Value Drivers Flexible work commitment allows MEO to pursue multiple oil objectives MEO Strategy • Low initial work commitment - Initial 18 month period requires only studies & reprocessing • MEO undertaking block-wide prospectivity assessment • Targeting early drillin
Slide 11: New Zealand
New Zealand un MEOAustralia
Slide 12: New Zealand: Onshore Production & Exploration
New Zealand: Onshore Production & Exploration PEP51153 (MEO 30%) Puka • Puka oil accumulation PEP 51153 Waihapa - Shallow oil accumulations produced from 2 wells. Shannon - Discovered in 2013 Prospect - Produced at 110-115 barrels/day under long term test 10 before shut-in January 2015 due to mechan
Slide 13: New Zealand: Shannon Prospect strong candidate for drilling in 2016
New Zealand: Shannon Prospect strong candidate for drilling in 2016 PEP51153 (MEO 30%) • Shannon Prospect - Analogous to nearby Waihapa oil field (23+ MMstb produced) with highly productive wells - Moderate objective depth (2,700m), drillable from existing Puka location - Large structural trap with
Slide 14: Australian Portfolio
Australian Portfolio “ MEOAustralia
Slide 15: Northern Australia Acreage
Northern Australia Acreage Discrete upstream projects adjacent to proven hydrocarbons ABADI GREATER SUNRISE BAROSSA EVANS SHOAL Joint Petroleum BLACKWOOD CALDITA Development HERON Area BAYU-UNDAN Tassie Shoal Projects TSMP 2 TSMP TSLNG 1 A C/P 5 3 (MEO 100%) A C/P 5 0 (MEO 100%) MONTARA A C/P 5 1 (M
Slide 16: WA-488-P (MEO 100%): Beehive Prospect
WA-488-P (MEO 100%): Beehive Prospect Giant Beehive dual objective oil prospect Darwin • Significant, multi billion barrel oil prospect • Recognised by many as the largest undrilled oil prospect offshore PETREL Australia FRIGATE • Shallow water, suitable for lower cost jack-up drilling rig TERN • De
Slide 17: WA-454-P (MEO 50%): Breakwater Prospect
WA-454-P (MEO 50%): Breakwater Prospect MEO partly carried. Aiming to farm down to cover well cost • Farmed out 50% to Origin in 2013 for: Gulf of Mexico style Salt Darwin dome Plays - $5.6m cash PLUS PETREL - 80% of Breakwater-1 drilling cost (~A$35m well cost cap) FRIGATE TERN Breakwater • Multipl
Slide 18: Tassie Shoal Projects (MEO 100%)
Tassie Shoal Projects (MEO 100%) Shallow water site, innovative low cost development paths for regional stranded gas • Region has substantial undeveloped high CO2 gas that needs a low cost development solution • Methanol manufacturing uses gas with high CO2 (up to 30%) as feedstock for value added p
Slide 19: Summary
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Slide 20: MEO Activity Pipeline
MEO Activity Pipeline Actively managing program to optimise value 2015 2016 2017 Permit Activity Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 New Zealand (PEP 51153) • Evaluate restart of Puka oil production • Potential Puka oil production • Prospect Evaluation Well Timing Uncertain • Drill 1 well (Shannon or Mt M
Slide 21: Summary
Summary • Revitalised business and refocused strategy targeting projects with appropriate risk-reward profile • Diverse, high impact exploration asset portfolio with material near-term value drivers • Unique Cuban leverage with early mover advantage • Cuba has excellent oil & gas prospectivity • Qua
Slide 22: Disclaimer
Disclaimer Forward-looking Statements and Resources Summary of information: This presentation contains general and background information about MEO’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that an inve
Slide 23: Appendices
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Slide 24: Appendix – MEO Group Assets
Appendix – MEO Group Assets Country Asset MEO % 2016 Work Program Value Driver Cuba Onshore Block 9 PSC 100%* 200km 2D reprocessing Quality, low-cost technical work to add value Studies ahead of potential farm-out and drilling New Onshore Taranaki 30% 1 exploration well (~$1-2 Select target of n
Slide 25: PEP51153: Puka Field (MEO 30%)
PEP51153: Puka Field (MEO 30%) Shallow oil discovery, demonstrated by extended production test Puka A Pad Douglas Pad S N Puka 1 Puka 2 Puka 3 Douglas 1 ??? Puka-3 OWC Douglas-1 OWC Approx. 1km • Defined by 3 wells and 3D seismic data • Demonstrated by Puka-1 and Puka-2 on 18 month extended producti
Slide 26: WA-488-P (MEO 100%): Beehive Prospect
WA-488-P (MEO 100%): Beehive Prospect Giant Beehive dual objective oil prospect • Significant, multi billion barrel oil prospect 0 15 B kilometers • Recognised by many as the largest undrilled oil prospect offshore Australia • Shallow water, suitable for lower cost jack-up drilling rig • Primary Obj
Slide 27: WA-454-P (MEO 50%): Breakwater Prospect
WA-454-P (MEO 50%): Breakwater Prospect Moderate risk prospect with potential for gas and oil A B • Large prospect with potential for gas and oil • Defined on high quality 3D seismic data • Multiple objectives between 1,800m - 3,200m Oil Gas Migration Migration • 89m water depth suitable for jack-up
Slide 28: WA-454-P (MEO 50%): Marina Discovery & Deep Potential
WA-454-P (MEO 50%): Marina Discovery & Deep Potential Potential for oil leg(s) to modest gas discovery, deeper, untested potential • Marina-1 drilled in 2007 B A Marina-1 − Hydrocarbons in 5 zones, gas shows at TD • MEO identified overlooked oil & deeper gas potential Zones 1-5 • Close to existing B
Slide 29: AC/P50 & AC/P51 (MEO 100%): Ramble On Prospect
AC/P50 & AC/P51 (MEO 100%): Ramble On Prospect Multiple oil targets in proven petroleum system • Suitable for lower cost jack-up drilling rig • Ramble On and Jur’maker oil prospects identified in proven petroleum system defined on modern 3D seismic data • Permits recently renewed for 5 year term wit
Slide 30: Tassie Shoal Projects (MEO 100%) – Back Up
Tassie Shoal Projects (MEO 100%) – Back Up Commercial framework progressing to support commercialisation • Methanol: 2 x 1.75MTA plants (TSMP1 & TMSP2) - Methanol production facilities built on Concrete Gravity Structure base, constructed in single module in low cost SE Asian location and towed to T