Strike Energy Limited · ASX:STX
Strike Energy — Strike Oil — Seventh Annual RIU Good Oil Conference 2007
21 slides from Strike Energy's conference presentation, Sep 3, 2007
Slide 1: ASX Announcement: Company Presentation
ASX Announcement ASX Code: STX 3 September 2007 The Company Announcement Officer For personal use only Strike Oil Limited ABN 59 078 012 745 Australian Stock Exchange Ltd via electronic lodgement Our Business COMPANY PRESENTATION We are an Oil and Gas Exploration and Production Find attached a compa
Slide 2: Company Presentation: Seventh Annual RIU Good Oil Conference
For personal use only COMPANY PRESENTATION The Seventh Annual RIU Good Oil Conference Esplanade Hotel, Fremantle 4-5 SEPTEMBER 2007
Slide 3: Key Events of the Last 12 Months
KEY EVENTS OF THE LAST 12 MONTHS • PRODUCTION 06/07 For personal use only GAS 0.79 Bcf (UP 136%) OIL 15,870 BARRELS (UP 146%) • REVENUES 06/07 $8.6 MILLION (UP 140%) • RAYBURN, A MAJOR NEW GAS DISCOVERY (DUNCAN 1), TEXAS • “FuturGas PROJECT” SOUTH AUSTRALIA, SCOPING STUDY COMPLETED (CLEAN COAL/GASIF
Slide 4: Areas of Activity
AREAS OF ACTIVITY For personal use only UNITED STATES Rocky Mountains Carnarvon Basin Gulf Coast Cooper Basin FuturGas AUSTRALIA MULTIPLE PLAYS IN MAJOR OIL AND GAS PRODUCING REGIONS
Slide 5: Gulf Coast - A Major Gas Play
GULF COAST - A MAJOR GAS PLAY For personal use only • Two commercial discoveries from three deep Wilcox wells • Mesquite - Gas discovery • Flint - Non commercial gas discovery • Rayburn - Gas discovery • Current production 6.2 MMcfd and 70 bbl oil (from four Mesquite wells). • Active ongoing explora
Slide 6: Rayburn - Discovery
RAYBURN - DISCOVERY RAYBURN (WI 22.8%, NRI ~16 to 17%) For personal use only WHAT DO WE KNOW? • Target size (predrill) ~500 Bcf potential. (Potential remains, multiple 100’s Bcf) • Very large structure confirmed with Duncan 1 (~10,000 acres under lease) • Multiple gas pay horizons between 11,500-16,
Slide 7: Indicative Costs, Gas Volumes and Gross Values
INDICATIVE COSTS, GAS VOLUMES AND GROSS VALUES For personal use only Individual Well, Completion Target Gas Gross Value and Testing Costs Volumes per Well @ US$7/Mcf Middle Wilcox Well (~12,000 feet) US$6 million 3 - 5 Bcf US$21 - 35 million Lower Wilcox Well (~16,000 feet) US$12 million 5 - 10 Bcf
Slide 8: Rayburn Potential Values
RAYBURN POTENTIAL VALUES For personal use only Gross Gas Bcf 100 200 300 400 500 Net Gas (Strike Oil) Bcf 17 34 51 68 85 Potential Value $ Net to Strike Oil at Millions 85 170 255 340 425 NPV, AUD$5/Mcf Potential Value Per Strike Oil Share Cents +30 +61 +91 +121 +152 SIGNIFICANT LEVERAGE TO CURRENT
Slide 9: Gulf Coast - Ongoing Program
GULF COAST - ONGOING PROGRAM • Six development and exploration wells planned in next 12 months For personal use only • US$15 million program (Strike Oil share) • Revenues forecast to grow from $8.6 million to >$20 million next year (08/09) (on successful Rayburn development) • Wells to be prioritise
Slide 10: FuturGas Project - Introduction
FuturGas PROJECT - INTRODUCTION For personal use only HYBRID ENERGY SA PTY LTD (formerly Kingston Energy Pty Ltd) • 100% subsidiary of Strike Oil Limited • Permits - PEL 127 - EL’s 3385, 3623 • Initial evaluation completed - Clean coal technologies - Carbon capture and storage (CCS) - Lignite mining
Slide 11: FuturGas Project
FuturGas PROJECT For personal use only Located near:- – Power grid – Gas pipelines – Rail – Port – Otway Basin (potential geosequestration site) • Clean Coal/Gasification project • 578 million tonnes (JORC Compliant) lignite deposit • Pre-feasibility studies to commence A MAJOR NEW ENERGY PROJECT
Slide 12: Carnarvon Basin - Shallow Water
CARNARVON BASIN - SHALLOW WATER For personal use only POSITION • Large acreage position primarily oil prone • Securing a shallow water cost efficient drilling rig KEY PROSPECTS Target Size Working Interest Baniyas Exploration 60 MMbbl/100 Bcf 40% North Santo-Grond Exploration 5-100 MMbbl 100% Sharp
Slide 13: Rivoli Gasfield Development
RIVOLI GASFIELD DEVELOPMENT For personal use only • Strike Oil 44.5% (Operator) • FEED study underway in agreement with Commonwealth Government Dept of Defence • Supply gas to remote power project (8PJ’s over 20 years) Rivoli • Seed project and infrastructure for: – Expansion through further gas con
Slide 14: The Next 12 Months in Summary
THE NEXT 12 MONTHS IN SUMMARY Ongoing oil evaluation at Tow Creek, Bear River For personal use only • Secure a suitable shallow and Florence water drilling solution Operator - Comet Ridge UNITED STATES • Complete Rivoli Gasfield FEED study Operator - Strike Oil Rocky Mountains Gulf Coast Carnarvon C
Slide 15: Project Pipeline 2007
PROJECT PIPELINE 2007 For personal use only Exploration Appraisal Development Production USA USA USA USA Gulf Coast Mesquite Mesquite Mesquite Flint Rayburn Rayburn Rayburn Tow Creek Rodeo Bear River Others Florence AUSTRALIA AUSTRALIA AUSTRALIA AUSTRALIA Cooper Basin Rivoli Rivoli (FEED) Phi Leathe
Slide 16: USA Peer Comparison
USA PEER COMPARISON Top 10 (by Market Capitalisation) as at 27 August 2007 For personal use only Australian Small to Mid Caps in USA (US Dominant Revenues) Ranking Ranking Company (Market Cap.) Company (Revenues) A$millions A$’000 (FY, 07) Marion Energy 348.2 Petsec Energy 52,465 * Petsec Energy 201
Slide 17: Funding Strategy
FUNDING STRATEGY For personal use only ONGOING PROGRAM TO BE FUNDED BY:- • CASH FLOW • DEBT • EQUITY RAISING ($10 MILLION ENTITLEMENT ISSUE) • DEMERGER AND PUBLIC LISTING OF HYBRID ENERGY SA INCREASING CASH FLOW PROVIDES FUNDING FLEXIBILITY
Slide 18: Key Differentiators
KEY DIFFERENTIATORS For personal use only • GROWING CASH FLOW • "COMPANY MAKER" PROJECTS • PROVEN AND CONTINUING TRACK RECORD OF DISCOVERY • GEOGRAPHICALLY DIVERSE PORTFOLIO OF ACTIVE PROJECTS • EXPERIENCED TEAM AND EXPERIENCED PARTNERS CONTINUING TO DELIVER RESULTS
Slide 19: Corporate Information
CORPORATE INFORMATION Share Price over Trade Volume 1 July 2005 to 31 August 2007 For personal use only 8,000,000 0.45 Shares on issue 280.42 million 7,000,000 0.40 Options on issue 21.2 million 6,000,000 0.35 0.30 Share price $0.23 Share Price ($) No. of Shares 5,000,000 4,000,000 0.25 (3 September
Slide 20: ASX Code: STX
For personal use only ASX Code: STX www.strikeoil.com.au
Slide 21: Disclaimer
DISCLAIMER This presentation does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security and neither this presentation nor anything contained in it shall form the basis of any contract or For personal use only commitment. Reliance should not be place on the
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