Melbana Energy Limited · ASX:MAY
Melbana Energy — Investor Presentation (September 2017)
24 slides from Melbana Energy's investor presentation, September 2017
Slide 1: Investor Update
Investor Update September 2017
Slide 2: Disclaimer
Disclaimer Forward-looking Statements and Resources Summary of information: This presentation contains general and background information about Melbana Energy’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information t
Slide 3: Company Overview
Company Overview 12 month share price performance Company Data 5 20 Index S&P/ASX All Ordinaries Volume 4 16 ASX Ticker ASX:MAY Shae Price (cents) Volume (millions) Share price Pro-forma shares 3 12 ~1,304m on issue* 2 8 Options* ~123m 1 4 Share Performance 5.33m 0 - Rights Sep 16 Nov 16 Dec 16 Jan
Slide 4: Melbana Project Summary
Melbana Project Summary Cuba USA • Block 9 exploration potential of ~12.5 billion barrels of oil-in-place with recoverable Prospective Resources of 637 million barrels USA (100% share, unrisked Best Estimate)* • Proven oil trend, ~30km from giant 11 billion barrel oil-in-place Varadero field Cuba Bl
Slide 5: Cuba
Cuba 5
Slide 6: Cuba Block 9 – An Overview
Cuba Block 9 – An Overview • Multi-billion barrel potential • 100%* interest in Block 9 PSC (2,380km2 or 588,000 acres) located onshore in Cuba • 25 year term in total (awarded in 2015) • 8.5 year exploration period divided into 4 sub periods with minimum work program: − 1 (Sept 2015 to Nov 2017) –
Slide 7: Cuba Block 9 – An Oil Rich Region
Cuba Block 9 – An Oil Rich Region Cuba Prospectivity and Market • Represents under-explored south-eastern margin of the Gulf of Mexico - one of the world’s great petroleum mega provinces • Limited application of modern exploration techniques due to 50+ year US embargo • Cuba currently producing ~45,
Slide 8: Cuba Block 9 – Resource Assessment
Cuba Block 9 – Resource Assessment Exploration potential for over 12 billion barrels of oil-in-place • Exploration potential of over 12.5 billion Boca de Canasi- Bacuranao Jaruco P. Escondido Yumuri- barrels of oil-in-place and Prospective Seboruco Varadero Majaguillar Resources of 637 million barre
Slide 9: Cuba Block 9 – Leads in Conventional Play
Cuba Block 9 – 19 Leads in Conventional Play Priority drill targets identified – Alameda, Zapato and Piedra Block 10 (Sherritt 100%) drilling exploration well, results expected Q4 2017 9
Slide 10: Cuba Block 9 – Alameda Prospect
Cuba Block 9 – Alameda Prospect Multi-target exploration drilling opportunity close to historic oil recoveries • Primary objective in depth range from 3,000 to 3,700 metres • Marti-5 (drilled 1988) recovered lighter oil (24°API) and had oil shows over a 850 metre gross interval from the Alameda obje
Slide 11: Cuba Block 9 – High Potential Zapato Prospect
Cuba Block 9 – High Potential Zapato Prospect Multiple structures with hundred million barrel exploration potential • Zapato Prospect is a large structure targeting fractured carbonate objective • Close to the shallower Motembo oil field which historically produced high quality light crude, demonstr
Slide 12: Cuba Block 9 – field work commenced
Cuba Block 9 – field work commenced Local contractors undertake initial site surveys of Alameda-1 well location • Cuba Block 9 PSC field work commenced • Survey completed of Alameda-1 well site, camp site and access road • Benign surface conditions encountered at well site locations • Initiated fiel
Slide 13: New Zealand
New Zealand 13
Slide 14: Onshore New Zealand – PEP51153 Overview
Onshore New Zealand – PEP51153 Overview • Melbana has 30% interest in PEP51153, operated by TAG Oil Ltd (“TAG” 70%) Puka PEP 51153 • Located onshore in New Zealand <10km east of Waihapa TAG’s producing Cheal field Cheal • Independent expert values TAG’s 2P reserves in Pukatea nearby fields at ~A$20/
Slide 15: Onshore New Zealand – Pukatea-1 (Melbana 30%)
Onshore New Zealand – Pukatea-1 (Melbana 30%) High impact Pukatea oil prospect • Prospective resources estimated to range from 1.3 to 40 million barrels (Low-High estimates, 100% share) • Targeting a highly productive conventional reservoir in the Tikorangi Limestone directly below the Puka oil pool
Slide 16: Other Assets
Other Assets 16
Slide 17: Northern Australia Acreage and Projects
Northern Australia Acreage and Projects DILI Discrete upstream projects adjacent to proven hydrocarbons ABADI GREATER SUNRISE BAROSSA Kupang Kupang EVANS SHOAL Joint Petroleum BLACKWOOD CALDITA Development HERON Area BAYU-UNDAN Tassie Shoal Projects Concept TSMP2 TSMP1 TSLNG Darwin Darwin
Slide 18: Australia – WA-488-P & the Beehive Prospect
Australia – WA-488-P & the Beehive Prospect Beehive - One of the largest undrilled hydrocarbon structures in Australia • Beehive is a significant, multi billion barrel oil Darwin prospect located on WA-488-P • Beehive Prospective Resources estimated to PETREL range from 97 to 2,033 million barrels (
Slide 19: Australia – Beehive Prospect
Australia – Beehive Prospect Beehive – a feature of enormous scale • Located in ~40 metres water depth • Target depth 4,000 – 4,500m • Prospect reservoir is an isolated carbonate platform of Carboniferous age. • Enormous feature: – Carbonate platform is 18km across (approx. same as Melbourne CBD to
Slide 20: Investment Highlights
Investment Highlights Cuba ✓ Only ASX listed company with Cuban energy exposure ✓ Block 9 exploration potential increased 50% to >12 billion barrels of oil-in-place and Prospective Resources of >600 million barrels (unrisked Best Estimate, 100% share)* ✓ Priority drill targets identified: ▪ Alameda
Slide 21: Melbana Summary
Melbana Summary Multiple potential catalysts to support a significant re-rating • Multiple high impact exploration drill targets identified CUBA • Up to two wells to be drilled commencing mid 2018 BLOCK 9 PSC • Drill program planning underway • Potential farmout transaction • Pukatea-1 drilling anti
Slide 22: www.melbana.com
6 Melbana Energy www.melbana.com
Slide 23: Tassie Shoal Projects (Melbana 100%)
Tassie Shoal Projects (Melbana 100%) Shallow water, 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 pr
Slide 24: AC/P50 & AC/P51 (Melbana 55%*): Multiple oil targets
AC/P50 & AC/P51 (Melbana 55%*): Multiple oil targets Melbana fully carried through 3D seismic reprocessing • Identified material Ramble On and Jur’maker oil prospects in proven petroleum system defined on modern 3D seismic data • Suitable for lower cost jack-up drilling rig • Potential highlighted b
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