Metgasco Ltd · ASX:MEL
Metgasco — Investor Presentation (July 2021)
24 slides from Metgasco's investor presentation, Jul 6, 2021
Slide 1: Entitlement Offer – Corporate Presentation
For personal use only Entitlement Offer Seeking to raise approximately $4.58M through a 1 for 3 Fully Underwritten, Non-Renounceable Entitlement Offer. ATP2021 – Three Vali gas discoveries in CY20 & CY21 PRL211 – Odin-1 gas L14 – Cervantes Oil discovery in CY21 Exploration project Potential signific
Slide 2: Company snapshot
Company snapshot Metgasco’s gas exploration success allows line of sight to profitable business in H1CY22 For personal use only Company overview Substantial shareholders & Board Melbana Energy Limited 20.00% ▪ ASX listed energy exploration company (ASX code: MEL) Keybridge Capital Limited & Aurora F
Slide 3: Achievements over the past 36 months
Achievements over the past 36 months Significant achievements have been made in the last 36 months in 3 key focus areas For personal use only Cooper Eromanga Perth Basin Corporate ✓ September 2019: signed Perth Basin ✓ In CY2019 ATP2021 successfully ✓ Following Dec CY2020 AGM approval exploration fa
Slide 4: Entitlement Offer
Entitlement Offer • A fully underwritten non-renounceable pro rata Entitlement Offer with an For personal use only opportunity to acquire 1 New Share for every 3 Existing Shares held as at the Record Date at an offer price of $0.025 per New Share (Offer Price) to raise up to approximately $4.58 mill
Slide 5: Use of Funds
Use of Funds For personal use only Appraisal, Well Completion, Well Testing, Geophysics and Commercialisation $2.36M activities in relation to the Company's Cooper Basin portfolio Pipeline and Service Infrastructure in relation to commercialisation of the $0.62M Company's Cooper Basin portfolio, sub
Slide 6: Share Capital Structure
Share Capital Structure For personal use only Current ordinary shares on issue 549,649,424 Entitlement Offer (1 New Share for every 3 Existing Shares) 183,216,475 Total ordinary shares on issue post Entitlement Offer 732,865,899 Entitlement Offer Options (expiry 31 December 2022) 61,072,158 Underwri
Slide 7: Entitlement Offer Indicative Timeline
Entitlement Offer Indicative Timeline* Announcement of Entitlement Offer Tuesday 6 July 2021 For personal use only Record Date for Entitlement Offer Friday 9 July 2021 Entitlement Offer opens and dispatch of offer booklet Wednesday 14 July 2021 Entitlement Offer closes Wednesday 28 July 2021 Results
Slide 8: Quality Onshore Australia Exploration Asset Portfolio
Quality Onshore Australia Exploration Asset Portfolio • East Coast Gas - Cooper/Eromanga Basin – Vali gas discovery, stimulated and tested. ERCE For personal use only certification of net 8.3PJ** gas reserves. Reserve upgrade likely following CY21 drilling. • West Coast Oil - Perth Basin - Cervantes
Slide 9: Metgasco: Strategy / Asset Overview
Metgasco: Strategy / Asset Overview Strategy - Deliver shareholder returns from current and new E&P assets/investments and be the partner of choice For personal use only Cooper/Eromanga Basin Cooper/Eromanga Basin Onshore Perth Basin ▪ Basin entry farm-in to drill QLD SA Cervantes exploration prospe
Slide 10: ATP2021 - Vali Hub Reserves
ATP2021- Vali Hub Reserves ….how big is the upside? Vali-2 delivered greater net gas pay than Vali-1 ST1 and is cased for future production. Vali-3 For personal use only gas pay in-line with pre-drill expectations . Reserve increase anticipated. ▪ Vali-2 drilled to appraise Patchawarra gas discovery
Slide 11: String of Pearls - Building a sizeable gas production hub
String of Pearls-Building a sizeable gas production hub Potential nine well Vali development - field life approx 20 years - 12mmscf/day average rate For personal use only By assessing the resource upside ahead of first gas there is the potential to optimise the value of the ATP2021and PRL211 assets,
Slide 12: Cooper Basin PRL211 - Strategic Odin Farm-in
Cooper Basin PRL211- Strategic Odin Farm-in • Odin-1 cased for production with gas shows in Toolachee, Epsilon and Patchawarra formations. For personal use only • Metgasco (21.25%), Vintage(operator with 42.5%) Bridgeport(21.25%) free carry Beach Energy(15%) for Odin-1 drilling • Odin-1 cased early
Slide 13: Cooper Eromanga Basin ATP-2020
Cooper Eromanga Basin ATP-2020 • Farm-out process underway . Companies reviewing data room For personal use only • 2015 bid won by MEL • ATP granted May 2018 • Located in SW QLD Cooper Eromanga Basin • In close proximity to areas of hydrocarbon source and existing oil & gas fields • 535 km2, 100% in
Slide 14: Perth Basin – Cervantes – L14 - Hunting for Oil in Kingia
Perth Basin – Cervantes – L14- Hunting for Oil in Kingia For personal use only Kingia/High Cliff • Jingemia-1 intersected a 26m water bearing good porosity sand of Kingia/High Cliff Sand(outside of structural closure) reducing the risk of sand presence in Cervantes. • Cervantes structure significant
Slide 15: Perth Basin – Cervantes – L14
Perth Basin – Cervantes – L14 Potentially one of the largest undrilled oil opportunities in the Perth Basin (Gross P50 OOIP 35mmbo), with geological similarities to nearby discoveries For personal use only A A’ Exploration Key Data Country Australia Basin Perth Basin Licence L14 Western Flank Cervan
Slide 16: High Gas demand in East Coast + Oil Price at 3yr High
High Gas demand in East Coast + Oil Price at 3yr High East Coast - New gas discoveries required to meet forecast demand For personal use only Perth Basin or Cooper Oil discovery a company game changer as oil prices at 3yr high • Federal Govt has identified gas companies and the delivery of gas to ma
Slide 17: 2021/2022 Indicative Key Activity Timeline
2021/2022 Indicative Key Activity Timeline Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 For personal use only Procure/Construct / Install Pipeline/flowlines to Gas Wells ATP2021/PRL211 Cooper Basin First Gas Production Drill Drill Drill Stimulate & Oil & Gas Vali-2 Odin-1 Vali-3 Complete/test Val
Slide 18: Conclusions - Upcoming investment highlights
Conclusions - Upcoming investment highlights Near term operational, corporate and macro news flows will provide a number of share For personal use only price catalysts Independent Reserve CY2021 well results on Vali-2 /Vali-3 and Odin-1 being reviewed by Assessment Increase independent reserve audit
Slide 19: Disclaimer / Reserves and Resource Notes
Disclaimer / Reserves and Resource Notes ▪ This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made as to the f
Slide 20: Investment risks
Investment risks Potential investors should be aware that there are risks associated with investing in Metgasco. Certain risks are beyond the control of Metgasco and its Directors and Management and may have a material impact on Metgasco’s future operating and financial performance, and/or the finan
Slide 21: Investment risks (continued)
Investment risks (continued) Financing risks The Company may need to raise additional funds in the future. There is no assurance that the Company will be able to secure additional funding, whether debt, equity For personal use only or otherwise, on acceptable terms, or at all. Any additional equity
Slide 22: International offer restrictions
International offer restrictions This document does not constitute an offer of new ordinary shares (New Share) of the Company in any jurisdiction in which it would be unlawful In particular, the document may not be distributed to any person, and the New Shares may not be offered or sold, in any coun
Slide 23: International offer restrictions (continued)
International offer restrictions (continued) Singapore This document and any other documents relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the For personal use only Monetary Authority of Singapore Accordingly, this document and any
Slide 24: International offer restrictions (continued)
International offer restrictions (continued) United Kingdom Neither this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no For personal use only prospectus (within the meaning of section 85 of the Fin