Slide 1: Corporate Presentation
For personal use only Corporate Presentation 31 July 2017
Slide 2: Disclaimer
Disclaimer For personal use only This presentation may contain certain statements and projections provided by or on behalf of Pilot Energy Ltd (PGY) with respect to the anticipated future undertakings. These forward-looking statements reflect various assumptions by or on behalf of PGY. Accordingly,
Slide 3: Introduction
Introduction ü Emerging oil & gas exploration company (ASX: PGY) For personal use only ü Countercyclical strategy has resulted in acquisition of six permits within 2 years, for a total acquisition cost of only A$470,000 ü Operator of five permits ü Largest net acreage holder in Perth Basin ü Leading
Slide 4: Independent Expert's Valuation
Independent Expert’s Valuation For personal use only BDO Corporate Valuation Low Value Preferred Value High Value Cents per share Cents per share Cents per share Value of Pilot Energy share 21 30 40 RISC Asset Valuation (Pilot Energy Share) Low Value Midpoint Value High Value US$MM US$MM US$MM WA-50
Slide 5: Corporate Snapshot
Corporate Snapshot For personal use only Capital Structure (ASX: PGY) Share Register (at 27/7/17) Shares on Issue 63,576,514 Shareholders 887 Market Cap (@ 8 cents) $5.1 MM Top 20 holding 67% Unlisted Options 3,900,000 Board & Management 24% Financial Position (at 30/6/17) Cash $630k* Debt Nil * An
Slide 6: Countercyclical Strategy
Countercyclical Strategy § Create significant shareholder value through acquiring quality assets at the bottom of the For personal use only industry downturn § Pilot Energy is an opportunistic company, and has acquired a significant asset portfolio in a short time, at minimal acquisition cost § Inve
Slide 7: Recent Activity
Recent Activity ü Capital restructure with 1:50 share consolidation, following less than marketable parcel For personal use only share sale facility ü Acquired high impact WA-481-P exploration permit, offshore Perth Basin ü Secured position as largest net acreage holder in Perth Basin ü Established
Slide 8: Asset Portfolio
Asset Portfolio WA-507-P For personal use only § Huge potential deepwater play § Increasing industry interest WA-503-P in oil play § Three large prospects on § No firm drilling commitment established oil trend (until 2020) § Low cost 3D seismic survey § Farmout process underway planned for late 2017
Slide 9: WA-481-P: Offshore North Perth Basin
WA-481-P: Offshore North Perth Basin Geraldton § Operator and 60% working interest For personal use only Dunsborough oil 114°30' E 115°00' E § Very large permit in shallow water discovery 6 MMBbls Dongara gas field § Highly prospective inboard play, on trend 450 Bcf Waitsia gas field with Cliff Head
Slide 10: EP437: Northern Perth Basin
EP437: Northern Perth Basin § 13% interest (Operator Key For personal use only 114°30' E 115°00' E Petroleum) § On trend with multiple significant oil W.A. & gas discoveries Geraldton Map Location § Multiple prospects identified § Wye Knot oil prospect to be drilled Wye Knot Q4 2017 Mt Hill 29°00' S
Slide 11: EP416 & EP480: Southern Perth Basin
EP416 & EP480: Southern Perth Basin § Operator and 60% interest For personal use only 116°00' E § Huge Leschenault structure, possibly the Mandurah largest undrilled structure in the onshore Perth Basin W.A. § Comparable potential to AWE’s Waitsia Map Location discovery (best case 725 Bcf gas) § Thi
Slide 12: WA-507-P: Northern Carnarvon Basin
WA-507-P: Northern Carnarvon Basin § Operator and 80% interest For personal use only § Large block within prolific Northern Carnarvon Basin gas province Statoil: WA-506-P § Primary term seismic license commitment fulfilled § “Drill or Drop” decision by November 2019 § Three very large gas/oil prospe
Slide 13: WA-503-P: Inboard North West Shelf
WA-503-P: Inboard North West Shelf § Operator and 80% interest For personal use only § Located in shallow water on Legendre oil trend § Three prospects identified on existing 3D seismic data § Prospective resources independently confirmed by GCA § Individual prospect prospective resources up to 73 M
Slide 14: Peer-Leading Prospective Resource Position
Peer-Leading Prospective Resource Position For personal use only Permit Oil/Gas Low Case Best Case High Case MMBOE MMBOE MMBOE WA-507-P Oil/Gas 604 1,581 3,600 WA-481-P Oil (Gas) 138 248 436 WA-503-P Oil 16 46 107 EP416/480 Gas 45 121 266 EP437 (Wye Oil 0.2 1.4 6.1 Knot) Total 803 1,997 4,415 Notes:
Slide 15: In Summary
In Summary § Delivering against a clear, counter-cyclical growth strategy For personal use only § Significantly undervalued at current share price, and relative to peers § Leading prospective resources position among peers § Managing risk through portfolio diversity and achievable work commitments §
Slide 16: For personal use only
For personal use only www.pilotenergy.com.au 15