Bounty Oil & Gas Nl · ASX:BUY
Bounty Oil & Gas Nl — Shareholder Meeting (November 2009)
27 slides from Bounty Oil & Gas Nl's shareholder meeting presentation, Nov 26, 2009
Slide 1: Annual General Meeting, Sydney November 26, 2009
Bounty Oil & For personal use only G NL Gas Annual General Meeting Sydney November 26, 2009 Presentation by: Philip F Kelso - CEO
Slide 2: Disclaimer
DISCLAIMER For personal use only This presentation contains forward looking statements that are subject to risk f t factors associated i t d with ith the th oilil andd gas industry. i d t It is i believed b li d that th t the th expectations reflected in these statements are reasonable but they may
Slide 3: Indicative Enterprise Value
Indicative Enterprise p Value For personal use only • The Indicative Increase in Enterprise Value (EV) provided by Bounty is given to help shareholders evaluate the relative merits of the projects being undertaken • In presenting the EV Bounty uses the average EV per barrel figure derived by Richmon
Slide 4: Project Locations and 2010 Operations
Project j Locations and 2010 Operations p For personal use only AC/P 32 Tanzania Nyuni EP 412, 359 & 435 Utopia Production, Development and NFE Projects Oil - Utopia, PEL 218 and Surat PEL 218 ? Surat Gas - Nyuni Tanzania Medium Risk Exploration Projects Oil - PEL 218 PEP 11 Oil & Gas - EP 412 and 4
Slide 5: 2009 Highlights
2009 HIGHLIGHTS For personal use only • Bounty makes a record profit of $ 3.44 3 44 million on consolidation of Ausam. Ausam • Bounty increases net assets to $ 14.26 million in 2009. • Bounty’s market capitalisation increased during the year by almost $ 48 million to around $60 million this month. •
Slide 6: Take Home Message
TAKE HOME MESSAGE For personal use only Bounty shareholders will see growth in 2010 from: – Anticipation of drilling in PEP 11 offshore Sydney Basin to test the 5 TCF plus gas prospects at Fish – Baleen area – Utopia, SW Queensland oil development drilling anticipated to increase oil revenue to $ 2.
Slide 7: PEP Sydney Basin - Update
PEP 11 Sydney y y Basin - Update p For personal use only • Negotiations for semi – sub rig at an advanced stage • MEC fundraising g • MEC co-ordinating environmental and compliance • Ongoing seismic re- processing
Slide 8: Corporate Profile
CORPORATE PROFILE For personal use only 52 Week Price Range $0.015 to $0.15 Shares Quoted 605,370,569 Options p nil Fully Diluted 605,370,569 ASX Price* $0.09 Market Capitalisation $54.5 million Rights Issue – 60.53 million $ 4.84 million shares @ $0.08 $0 08 8 BUY Capital Basics
Slide 9: Milestones 2009
Milestones 2009 For personal use only Opens Closes Announce Spud Release Rights Issue MMR/BUY PEP 11 W k fi ld 1 Wakefield 9 Market likes what it sees so far
Slide 10: PEP - Sydney Basin NSW Company Maker
PEP 11 - Sydney Basin NSW Company Maker For personal use only PSPAPP 32 PEL 452 PEL 456 PSPAPP 31 • Targeting up to 16 Tcf (P10) recoverable PEL 285 from several strong prospects Proven hydrocarbon system, with new PEL 4 • PSPA 20 prospects identified in the Cenozoic (Quaternary) PEL 267 PELA 98 • D
Slide 11: Fish - Baleen Drill Location
Fish - Baleen Drill Location For personal use only 11 Success would provide material value increase/share
Slide 12: Core Assets: Oil to provide growth
Core Assets: Oil to provide growth For personal use only • C Core A Asset P Program in i the h CCooper/Eromanga /E and dSSurat BBasins i h has added dd d new 2010 development and exploration drilling projects: • 12 well development programme at Utopia to develop 1.7 MMbo reserves commencing late 200
Slide 13: Core Projects Message
Core Projects Message For personal use only • Utopia development to lift Bounty onto a sustainable revenue path • Wakefield 1 well hit 8.54 metres of probable log interpreted pay in 3 Formations, preliminary estimates of contingent resources discovered by the well are in the order of 4-5 MMbo (0.93
Slide 14: Programme - Oil Development and NFE
Programme - Oil Development and NFE For personal use only 2009 2010 Oct Nov Dec Jan Feb March April May June July Aug Sept PEP 218 - Eromanga SA Engineering Studies Exploration Drilling Development Drilling Well Workover ATP 754P - Surat QLD N New P Production d ti Downlands - Surat QLD Bellbird - S
Slide 15: Utopia Field – BUY 40%
Utopia Field – BUY 40% For personal use only • Utopia field is in a shallow anticline at the Murta level with limited relief • Reserves are between 0.3 (Proved Producing) and 1.8 Mmbo (2P) • Reservoir has low productivity but there are significant undeveloped reserves • New management of JV partner
Slide 16: Utopia Development Forward Projections
Utopia p Development p Forward Projections j For personal use only 25 Utopia Development Projected Bounty Production in Barrels Utopia Development Projected Bounty Cash Flow 80000 20 70000 Cumulative Cash Flow 60000 15 Cash Flow Before Tax 50000 $ millions 40000 10 Oil Price = US$70/bbl A$ = US$0.90
Slide 17: PEL 218 Location northeast of Moomba SA
PEL 218 Location northeast of Moomba SA –Buy 23.28% For personal use only QLD SA Juniper/Flax Fly Lake/Brolga Tirrawarra PEL 218 Gas Field Merrimelia Wakefield Oil Field Oil Pipeline Gas Pipeline Meranji Gidgealpa Orientos Moomba Patroclus Spencer Nappacoongee East Epsilon Moomba Mudlalee Mooliampah
Slide 18: PEL – Wakefield Results
PEL 218 – Wakefield 1 Results For personal use only • Wakefield 1was the first well to be drilled specifically for oil in the middle of the Nappamerri Trough • The well encountered log derived oil pay at several horizons in the Mesozoic sequence as follows: Formation Possible Pay m Probable Pay m Mu
Slide 19: Surat Basin Lands - Oil Focus
Surat Basin Lands - Oil Focus For personal use only Downlands/Spring Grove • Bounty has acquired a portfolio P Permian i Oil of assets in the oil prone South Western Surat Basin PL 1 19 Surat ATP 470P F • Additional projects are under PL 7 1 ATP 754P Gas Field negotiation Oil Field 754P Gas Prospect
Slide 20: Bellbird Oil Field – BUY 33.33%
Bellbird Oil Field – BUY 33.33% For personal use only Dalkeith 1 Bellbird Sand Oil Pool • Bellbird 1 flowed 54 bopd on Bellbird Sand Lead production Boxvale Prospect Oil Well Captain Cook 1 Oil Show • Bellbird West 1 recovered 6 litres Mireeka 1 Louise Northeast 1 Gas/Condenstate Well of oil at surf
Slide 21: Mardi Prospect Surat QLD - BUY 50%
Mardi Prospect Surat QLD - BUY 50% For personal use only Sh o Narrows Ze wg Louise ro ro E d un ge d s 0.12 MMbo 754P Mardie Prospect 0 2.5 5 Eluanbrook 1 Kilometres line Jac kson - M oonie Pipe Alton ATP 754P 2.0 MMbo Fairymount • Mardi Evergreen Formation Prospect is up dip of both the Permian Zer
Slide 22: Downlands PL119 and ATP 471P SG
Downlands PL119 and ATP 471P SG – BUY 24.7485% For personal use only PL 119 Downlands 4 Downlands East 1 Downlands Downlands 1 Gas Field Downlands 2 Downlands 3 Downlands East 2 Spring Grove 2 Spring Grove 1 Gas Pool G Prospect Gas P Spring Grove Oil Pool Oil Prospect Oil Field 0 0.5 Kilometres 1.0
Slide 23: Nyuni – Tanzania
Nyuni – Tanzania Bewara West Bewara East BUY 5% For personal use only Nyuni • JV has made two gas discoveries from 3 wells Nyuni West at Kiliwani North and Nyuni y Nyuni East • Kiliwani North 1 well drains 17 Bcf gas Amina • Only 3.5 km. from gas plant and pipeline to market, commercialisation negot
Slide 24: Nyuni 2010 Planning
Nyuni y 2010 Planning g For personal use only • Seismic re-processing • New seismic surveys • Planning for jack-up drilling late 2010 • Oil is focus of new drilling g
Slide 25: EP Permits – Carnarvon Basin WA
EP 412 (BUY 65%), EP 359 & 435 (10%) – Carnarvon Basin WA For personal use only P 359 (1) • These permits surround the Rough Range oil Rivoli field and are targeting oil that has migrated EP out from the prolific Carnarvon Basin and gas in the Permian Section underlying the Carnarvon Basin • Bee Eat
Slide 26: AC/P – BUY 15%
AC/P 32 – BUY 15% For personal use only AC 07-3 AC/P 21 Challis Swan Cassini P 22 AC/L 6 AC/L 3 Puffin P 22 AC/P 32 AC/L 8 RL 1 Talbot Skua AC/P 34 AC 08-5 • Some large stratigraphic targets with AC/L 7 AC 08-6 potential recoverable oil exceeding 100 Mmbo Oil Field Montara Gas Field Structural Prosp
Slide 27: BUY in 2009/2010
BUY IN 2009/2010 For personal use only • G Growth hAAssets: • Drilling of Fish-Baleen in PEP 11 will see BUY participate in an offshore well in the Sydney Basin targeting world class gas potential associated with the Permian coals of the Sydney Basin which if successful will deliver major value gain
Bounty Oil & Gas NL — Shareholder Meeting (November 2009) on 6ix