Bass Oil Ltd · ASX:BAS

Bass Oil — Bass Strait Oil Company — Shareholder Meeting (November 2011)

26 slides from Bass Oil's shareholder meeting presentation, Nov 16, 2011

  1. Slide 1: Annual General Meeting – November 2011

    For personal use only Annual General Meeting – November 2011

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation has been prepared by Bass Strait Oil Company Ltd (“BAS” or the “Company”), with the purpose of providing general information about the Company. It should not be considered as an offer or For personal use only invitation to subscribe for or purchase any securities in the

  3. Slide 3: Bass Strait Oil - Vision

    BASS STRAIT OIL - VISION For personal use only • Bass Strait Oil Company Ltd (ASX code: BAS) is a specialist, technically-driven, petroleum explorer currently focused exclusively on southeast Australia. • BAS has a 2 pronged strategy: – Conventional to unconventional petroleum onshore – Conventional

  4. Slide 4: Highlights

    HIGHLIGHTS ¾ Oil exploration in prospective Southeast Australia permits For personal use only ƒ two pronged strategy – tight to unconventional petroleum onshore, conventional to tight petroleum offshore ¾ Windermere-3 well results expected by year end 2011 ƒ Windermere oil project in the onshore Otw

  5. Slide 5: Capital Raising

    CAPITAL RAISING For personal use only ¾ Underwritten 1:3 non renounceable rights issue at 2.5 cents per share to raise gross proceeds of A$2.4 million ¾ Offer closed Friday, 7th October 2011 ¾ Rights issue proceeds, along with existing cash of ~A$2.1 million, to be used for: ƒ Windermere-3 drilling

  6. Slide 6: Directors and Management

    DIRECTORS AND MANAGEMENT For personal use only ¾ John McInnes OAM, Non-Executive Chairman – BComm, FCA; chartered accountant and experienced company director ¾ Dr Henry Askin, Non-Executive Director – BSc (Hon) PhD; former Shell Australia Exploration Manager, Chairman Central Petroleum Ltd ¾ John Tu

  7. Slide 7: Corporate Information

    CORPORATE INFORMATION For personal use only ¾ ASX code: BAS ¾ 388,039,613 ordinary shares ¾ Total shareholders approximately 2,224 ¾ Top 20 shareholders hold: 37% ¾ Top 50 shareholders hold: 56% ¾ Albers Group: 15% ¾ Adelaide Equity: 7% ¾ Cash on hand: A$4.5 million ¾ Market capitalisation: A$11.6 m

  8. Slide 8: Balanced Portfolio of Opportunities

    BALANCED PORTFOLIO OF OPPORTUNITIES For personal use only APPRAISAL EXPLORATION FRONTIER 9 PORTFOLIO – 40% 9 PORTFOLIO – 40% 9 PORTFOLIO – 20% ¾ VIC/P47 ¾ VIC/P41 ¾ T/42P & T/43P -Judith -Kipling -Duroon Sub-basin ¾ VIC/P42 -Benchley ¾ VIC/P66 -Zane Grey -Oscar -East Gippsland -Omeo ¾ VIC/P42 ¾ PEP

  9. Slide 9: Permits

    PERMITS For personal use only TOTAL ACREAGE ca 14,000 sq km IN THREE PRODUCTIVE BASINS Gippsland Basin VIC/P41 – 45% operator VIC/P42 – 100% operator VIC/P47 – 40% operator VIC/P66 – 60% operator Bass Basin T/42P & T/43P – 100% operator T/L1 – ORR (0.0648%) Otway Basin PEP167 – 50% operator PEP150 –

  10. Slide 10: Onshore Otway Basin

    ONSHORE OTWAY BASIN For personal use only • PEP 167 contains Windermere-1 oil discovery, PEP150 contains Lindon oil discovery (permit pending native title) • Area offers excellent access and infrastructure indicating good economics for oil development • PEP 167 50%/50% JV with Interra Resources • PE

  11. Slide 11: Windermere Oil Project (Bass: 50%)

    WINDERMERE OIL PROJECT (Bass: 50%) Windermere-1: ¾ drilled in 1987 For personal use only ¾ recovered 32 bbls oil on DST but nothing on production ¾ likely wellbore damage • Technical review indicates good potential for commercial flow rates • Anticipate drilling Windermere-3 (as twin to W-1) in 4th

  12. Slide 12: Windermere Oil Project

    WINDERMERE OIL PROJECT For personal use only This image cannot currently be display ed. • 3D interpretation shows Windermere-1 is structurally separate from Windermere-2 at oil reservoir level and explains oil migration into Windermere-1 and not Windermere-2

  13. Slide 13: Windermere Oil Project - Well Site from Pallisters Road

    WINDERMERE OIL PROJECT For personal use only Well Site from Pallisters Road

  14. Slide 14: Windermere Oil Project - Top Soil Stripping

    WINDERMERE OIL PROJECT For personal use only Top Soil Stripping

  15. Slide 15: Windermere Oil Project - Well Site Leveling

    WINDERMERE OIL PROJECT For personal use only Well Site leveling

  16. Slide 16: Windermere Oil Project - Mud Sump

    WINDERMERE OIL PROJECT For personal use only Mud Sump

  17. Slide 17: Offshore Gippsland Basin

    OFFSHORE GIPPSLAND BASIN For personal use only

  18. Slide 18: VIC/P47: Fields and Prospects (Bass: 40%)

    VIC/P47: FIELDS AND PROSPECTS (Bass: 40%) •Continuing farmout interest For personal use only •Existing gas discoveries at Judith and Moby with nearby infrastructure •Judith: GCA certified contingent resources 2C – 194 Bcf; 3C – 934 Bcf; prospective recoverable P10 – ~800 Bcf. Judith- 1 drilled late

  19. Slide 19: Judith Field

    JUDITH FIELD For personal use only Judith-1 Zone of gas shows in Judith-1

  20. Slide 20: VIC/P41: Prospects and Leads (Bass: 45%)

    VIC/P41: PROSPECTS AND LEADS (Bass: 45%) „ 3D-defined, high-impact For personal use only prospects with prospective resources Kipling, analogous to Kipper field P50: 320 Bcf + 15 mmbbls P10: 1 Tcf + 50 mmbbls Benchley, analogous to Kipper field P50: 800 Bcf + 40 mmbbls P10: 3 Tcf + 150 mmbbls Oscar

  21. Slide 21: VIC/P66: Exploration Concepts (Bass: 60%)

    VIC/P66: EXPLORATION CONCEPTS (Bass: 60%) For personal use only „ Underexplored East Gippsland play „ Lead A (P10 prospective resource: ~600 Bcf recoverable) defined on 2D in west of permit „ Recently completed basin modelling project which improves prospectivity

  22. Slide 22: VIC/P42: Prospects and Leads (Bass: 100%)

    VIC/P42: PROSPECTS AND LEADS (Bass: 100%) For personal use only „ Zane Grey and Omeo discoveries „ Renewal area fully covered by 3D seismic „ Seismic data sets to be reprocessed

  23. Slide 23: Offshore Bass Basin

    For personal use only OFFSHORE BASS BASIN

  24. Slide 24: T/42P & T/43P: Prospects and Leads (Bass: 100%)

    T/42P & T/43P: PROSPECTS AND LEADS (Bass: 100%) For personal use only „ T/42P & T/43P - total 6,120 sq km „ Under explored Durroon Sub basin play „ New 2D seismic and basin modelling show large prospects plus hydrocarbon ‘kitchens’ „ Favourably located - infra structure and growth markets, in water

  25. Slide 25: Short Term Forward Program

    SHORT TERM FORWARD PROGRAM For personal use only 4Q 1Q 2011 2012 OTWAY BASIN PEP 167 Drill Windermere-3 GIPPSLAND BASIN Vic/P41 Renew Permit Vic/P42 3D Seismic Reprocessing Vic/P47 3D Seismic Reprocessing Vic/P66 2D Seismic Acquisition * BASS BASIN T/42P Renew Permit T/43P Renew Permit * - subject t

  26. Slide 26: Summary

    SUMMARY ¾ Balanced permit position: excellent leverage to high impact For personal use only discovery potential ¾ Coherent focused portfolio across three productive basins ¾ Offshore drilling and seismic operations since 2000 ¾ New round of industry activity in the region ¾ Low-cost, low-risk jurisd

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