Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Pancontinental Oil & Gas NL — Investor Presentation (May 2006)
25 slides from Pancontinental Energy Nl's investor presentation, May 18, 2006
Slide 1: Pancontinental Oil & Gas presentation
Web Page: www. pancon. com. au Strictly Private and Confidential
Slide 2: Disclaimer & Confidentiality Notice
Disclaimer & Confidentiality Notice The information contained in this Presentation or subsequently provided to the Recipient of this Presentation whether orally or in writing by or on behalf of Pancontinental Oil & Gas NL (“PCL”) or their respective employees, agents or consultants ("Information") i
Slide 3: Corporate Summary
Slide 4: Management Structure
Management Structure:- Perth Based Board of Directors David Kennedy (Chairman) Andrew Svalbe (CEO) Peter Munachen (Finance) Barry Rushworth (New Ventures) Tan Cornelius (Non-executive) Operational Management Team Chief Executive Officer: Andrew Svalbe New Ventures Director: Barry Rushworth (London B
Slide 5: Corporate Strategy
Slide 6: Morocco, Malta
MOROCCO MALTA
Slide 7: Share Price Growth
Share Price Growth:- Building international portfolio, With only modest, loca drilling activity = Share price has doubled A$0.03 — A$0.06 = Afrex Takeover # 100% of projects » Large carried equity | 2001 2006
Slide 8: Farm-out when necessary
ere/when necessary via farm-out: _ une 2005
Slide 9: Target PCL Share Price A$0.50 in 2007
Target PCL Share Price 2 ASO. 60 in 2007 Re ae RUE oe i 7 HDR = Ten-fold increase in share price over 4 years wi success in Mauritania Frontier play with ~ 20% HDR rose from A$0.29 t 2-3 NV assets sought fre core focus countries | ; I ih Thy OTT TOTTI woos 3... got. 2 Eig) SoU eal re Herollssetiayto
Slide 10: Huge Potential in Existing Prospect Portfolio
Huge Potential in Existing Prospect Portfolio Un-risked Speculative Potential (Gross Oil Reserves) lia Millions of Barrels 9 1 13 15 7 19 27 23. 25 27 «29 Pancontinental's international Prospects & Leads Inventory
Slide 11: Drilling Toward Exploration Success (Current Assets)
Drilling Toward Exploration Success (Current Assets) New Ventures will be discussed at the end. Project 2006 2007 2008 2009 Seismic Acquisition % EP- 424 Drilling Activity EP-104, R1 Malta Kenya Morocco
Slide 12: Share price undervalued despite Afrex-PCL
Share price undervalued despite Afrex-PCL q q ‘a * * Vi Afrex, Anadarko & Origin pnadarko noe Woodside Enter Malta Woodside Exit L6,8,9 Origin Ente Enter Kenya Kenya Month & Year
Slide 13: Market Cap. Comparison: Global & Baraka
Market Cap. Comparison: Global & Baraka » All active in Africa and all based in Australia Pancontinental Market Cap. Calculated @ A$0.065 » All have frontier exploration acreage e All have carried interests a Others have fewer assets # PCL share price should be A$0.24 based on this Pancontinental Ba
Slide 14: Technical Highlights: Kenya
Slide 15: Origin Farm-in to Substantial Leads Inventory
Origin Farm-in to Substantial Leads Inventory Origin farming in to Blocks L8&L9 Earning 50% for US$4mm seismic KENYA LEADS Earn extra 25% for drilling well per block Wells @ US$20 million ea. Over 40 Leads mapped 9 have potential for in ex of 500 MMBO reserves 4 have billion barrel reserves : potent
Slide 16: Comparison between Woodside & PCL
Comparison between Woodside & PCL Prospectivity +500 | 2000 Pancon (Block L8) M’bawa speculative potential = 1,500 MMBO recoverable » Woodside (Block L5 Dana & Global are partners in block with similar _ structures to Pancon 2500 < Tandala presented with £1,000 MMBO in plac: « Woodside, Dana & Globa
Slide 17: Kenya Near Term Activity
Kenya Near Term Activity = Origin to shoot seismic in 3Q 2006 « Seismic worth US$4 mi # Drilling option worth oy, million gross « Woodside to dri in L5, October » All this activity close to growing market Sub-continent
Slide 18: Technical Highlights: Malta
Slide 19: Anadarko farms into Offshore Malta
Anadarko farms into Offshore M « Anadarko to shoot 2D seismic and drill 1 well to earn 65%; 2 wells for 75% : Total Cost to Anadarko: US$~ million « PCL @ 28% after 1 well; 20% after 2 wells « 2 Prospects, 8 Leads « Chianti P50 = 453 MMB Limoncello P50 = 968 MMBO
Slide 20: Malta Near Term Activity
Malta Near Term Activity « Anadarko to commence seismic immediately after border issues with Tunisia and Libya are settled « Tunisia very close to Ministers set M « Dialogue with Libyg : Anadarko market cap. . 40% larger than Woodside : Anadarko recently. cured a drilling unit on long term contract
Slide 21: Technical Highlights: Australia
Slide 22: EP-424 offers near term cash flow through existing production infrastructure
EP-424 offers near term cash flow through existing production infrastructure PCL equity in EP424 = 25% , : Baha §$.S. being process: Strike Oil is Operator Oil production 10kms Chevron operate infrastrti¢ture Baniyas Prospect spec. otenti P50 = 50 MMBO (twice Woollybutt) Chevron operate western half
Slide 23: Australia Near Term
Australia Near Term ES = Baniyas Prospect a strong candidate for drilling in late 2006 e likely early ‘07 » Strike Oil to interpret.seismic Q3 2006 « Chevron process * Early cash flo drilling is successful = Rapid tie-back to capacity exists __ evron infrastructure where spare 2 Stokes Bay-1 in Cann
Slide 24: us on co
us on co [s -graded by
Slide 25: Morocco, Malta
MOROCCO. MALTA
Pancontinental Oil & Gas NL — Investor Presentation (May 2006) on 6ix