Melbana Energy Limited · ASX:MAY

Melbana Energy — MEO Australia — Euro Pacific Capital Global Investment Conference 2012

22 slides from Melbana Energy's conference presentation, May 31, 2012

  1. Slide 1: Euro Pacific Capital Global Investment Conference

          BANGKOK THAILAND CAMBODIA MYANMAR MANORA G G 22 // 44 88 PHNOM PENH       JASMINE BUALUANG 0 100.0 kilometers SATUN NSO J TERIPANG r SERUWAY PSC ARUN GURAME LEMURU SALEM S 0 kilometers 25.00 A KUALA LANGSA L GOS GLAGAH E M SS O OUU TT H H M MAAD DUU RR A A PP SS CC Surabaja Surabaj

  2. Slide 2: Disclaimer

    Disclaimer Compliance Disclaimer This presentation includes certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause tho

  3. Slide 3: Presentation outline

    Presentation outline The case for considering an investment in MEO 1. Corporate snapshot 2. People • Board of directors • Senior personnel 3. Portfolio overview • 7 upstream, 3 infrastructure projects 4. Track record – high value transactions • Petrobras, Eni 5. Portfolio examples • Bonaparte Gulf,

  4. Slide 4: Corporate snapshot

    Corporate snapshot ASX & OTC listed, SE Asian focus, adequate cash*, open register Ticker symbols (ASX / OTC) MEO MEOAY General Share Price (ASX: MEO) (28-May) A $0.245 HQ Melbourne, Australia Issued shares (million) 539.9 • Jakarta branch office SE Asian portfolio Issued options ($0.50 ex) (million

  5. Slide 5: Board of directors

    Board of directors Depth of experience with major companies, diverse skill set Managing Director (& CEO) Non–executive Chairman Jürgen Hendrich - Geologist Nick Heath – Engineer Appointed MD July 2008 Appointed NED May 2008 Appointed CEO June 2008 Appointed Chairman November 2008 Tolhurst Noall 2005

  6. Slide 6: Senior personnel

    Senior personnel Hand picked team, proven oil finders & deal-making capability Ken Hendrick Colin Naylor Dave Maughan Peter Stickland Robert Gard Robert Zammit Implementation Manager Chief Financial Officer Exploration Manager New Ventures Manager Commercial Manager Executive Manager - BD Joined Jul

  7. Slide 7: Portfolio overview

    Portfolio overview Thailand, Indonesia, NW Australia – oil, gas & LNG       BANGKOK Gulf of Thailand THAILAND (Oil Focus) CAMBODIA MYANMAR MANORA G G 22 // 44 88 PHNOM PENH       JASMINE BUALUANG SATUN 0 kilometers 100.0 (50% *) NSO J TERIPANG SERUWAY PSC ARUN GURAME LEMURU r SALEM S A L

  8. Slide 8: Transactions: WA-360-P farm-out

    Transactions: WA-360-P farm-out US$39m cash, 1-well fully funded, contingent cash & 2 additional wells • MEO farmed into permit Oct-2007 • Earned 60% via acquiring 3D seismic Target: ~12 Tcf (mean prospective) • Identified 12 Tcf Artemis prospect Equity : 50% (MEO farmed down from 70%) • Secured 1 y

  9. Slide 9: Transactions: NT/P68 farmout

    Transactions: NT/P68 farmout >US$200 work program to earn 50% interest, options to earn 75% • Awarded permit Feb-2004 • Acquired 3D in 2007 Target: ~6 Tcf (discovered + prospective) • Farmout 10% PI to Petrofac Equity : 50% (MEO farming down from 100%) • Heron#2 gas discovery early 2008 • Blackwood#

  10. Slide 10: Remote gas, Timor Sea Northern Australia

    Remote gas, Timor Sea Northern Australia Focus of 3 MEO upstream projects & 3 Tassie Shoal infrastructure projects Woodside (Greater Sunrise) INPEX (Abadi) 4.0 Mtpa FLNG 2.5 Mtpa FLNG FID: Unspecified FID: Target 2013 ConocoPhillips 3.7 Mtpa LNG (Darwin) Tassie Commenced Feb 2006 Shoal AC/P53 Shell

  11. Slide 11: Tassie Shoal – a natural hub location

    Tassie Shoal – a natural hub location Environmental approvals to host infrastructure in <15m water depth Accommodation and Control Platform (ACP) LNG Plant Methanol Plant (1.75 MTA Stage 1 only) (~3 MTA) LNG Tank (170,000 m3) 11 MEO Australia Limited

  12. Slide 12: Hosting proven, off the shelf technology

    Hosting proven, off the shelf technology Simple grounded structures, proven technology, no movement issues Arup Concept Elevating (ACE) Platform L N G + = M E T H A N + = Process plant based on Davy ExxonMobil’s Adriatic Re-gas O Process Technology plants terminal on CGS. Barge L operating in Trinid

  13. Slide 13: TSMP1 1.75 MTA, demand=8.3 MTA (EoI)

    TSMP1 1.75 MTA, demand=8.3 MTA (EoI) 1st plant requires ~1.4 Tcf raw gas (@ 25% CO2) over 20 yrs of operation Upstream JV(s) Midstream JV(s) Downstream Off taker(s) Methanol SPA(s) Current Focus Area JV or GSA Supply LNG SPA(s) 13 MEO Australia Limited

  14. Slide 14: Bonaparte Gulf, WA-454-P (100%)

    Bonaparte Gulf, WA-454-P (100%) Next to proposed US$6 billion F-LNG project & producing gas facility GDF Suez/Santos • Awarded permit mid-2011 Proposed Bonaparte FLNG (2.0 MTA) FID: Target 2014 • Technical studies reveal: − Probable oil in Marina − Breakwater prospect Breakwater prospect Area of clo

  15. Slide 15: Marina gas and probable oil discovery

    Marina-1 Well MDT Pressure Data Interpretation (Zone 1 Gas Cap and Oil Leg - P50 Case) Marina gas and probable oil discovery 2540 2580 2620 2660 2700 2740 2780 Pressure ( 2820 2 Contingent resources: 5–22 mmbbls oil & 98–302 Bcf gas (P50-P10) 1820 Oil Gradient=1.162psi/m Proven Gas Pay 1830 Gas Grad

  16. Slide 16: Breakwater gas & oil? prospect

    Breakwater gas & oil? prospect Significant gas prospect with potential for 40-200 mmbbls oil (P50-P10) Breakwater : Amplitudes in Marina and Blacktip reservoirs Marina Breakwater Prospect Time slice from Floyd 3D Lead Breakwater Salt Swell Un-Risked Prospective Resources (Recoverable) * Scenario A:

  17. Slide 17: North Sumatra, Seruway PSC (100%)

    North Sumatra, Seruway PSC (100%) Multiple projects – launched farm out to attract funding partner ExxonMobil Arun LNG Plant • 4 MTA LNG (2 trains) • Purchased 100% PI mid-2011 LNG Plant • <50% capacity Gurame discovery TERIPANG • PSC has 3 distinct projects • Operations cease 2014 1. Gurame gas/oil

  18. Slide 18: Gurame discovery: 51-109 mmbbls oil?

    Gurame discovery: 51-109 mmbbls oil? FIT samples from multiple wells indicate deep oil columns of >50m & >26m! Proposed Gurame SE-1X 2.5 km 5.6 km 2.7 km ONS-A5 ONS-A2 ONS-A3 Mid Baong mTVDss 2500 2600 LKG -2697m (A5) P(50) GOC 2700 HKO -2724m (A2) FIT 1 FIT 2 LKO -2777m (1X) 2800 P(50) OWC Belumai

  19. Slide 19: Kuala Langsa gas discovery – lower CO2?

    Kuala Langsa gas discovery – lower CO2? CO2 significantly lower in recovered samples compared with surface tests Kuala Langsa – 1X • 382m gross reservoir thickness – thicker in Seruway PSC • 230m gross gas column, 212m net pay – thicker in Seruway PSC • DST-1 3,517-3,523m (6m) - 2 MMCFGD (83% CO2 an

  20. Slide 20: Potential near term value drivers

    Potential near term value drivers Transactional processes underway, portfolio to be tested by drilling from Q3 2012 2013 MEO Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Potential catalyst Equity Remarks Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Planned transactions

  21. Slide 21: Key take-aways

    Key take-aways Attributes of a company with investment appeal 1. High quality people 2. Track record of high value transactions • Farmed out 50% of NT/P68 to Eni for >US$200m work program (2011) 3. Portfolio with substantial optionality 4. Multiple near term potential value drivers • Several additio

  22. Slide 22: Thank you

    Thank you Contact details Australia United States MEO Australia Limited Cooper Global Communications 500 Collins Street, Level 23 245 Park Avenue, Level 39 Melbourne VIC 3000 New York, NY 10167 Jürgen Hendrich Jennifer K Zimmons, Ph.D Managing Director & CEO Managing Director T: +613-8625-6000 T: +1

MEO Australia — Euro Pacific Capital Global Investment Conference 2012 on 6ix