Pilot Energy Limited · ASX:PGY
Pilot Energy — Investor Presentation (July 2016)
18 slides from Pilot Energy's investor presentation, Jul 19, 2016
Slide 1: Investor Presentation July 2016
For personal use only Investor Presentation July 2016
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: Investment Highlights
Investment Highlights For personal use only 1 Emerging Perth‐based oil & gas exploration company 2 Focused on exploration of conventional oil & gas in WA Operator of four exploration permits with very significant 3 prospective resources 4 Opportunistic and lean organisation with low cost base 5 Stro
Slide 4: Corporate Snapshot
Corporate Snapshot For personal use only Capital Structure (ASX: PGY) Share Register (at 15/7/16) Shares on Issue 2,938,816,834 Shareholders 1,786 Market Cap (@ 0.2 cents) $5.9 MM Top 20 64% Unlisted Options 140,000,000 Board & Management 30% PGY Share Price History 0.0035 0.003 Financial Position (
Slide 5: Cornerstone Investment
Cornerstone Investment For personal use only Raised $3.6 million through a Share Subscription Agreement with new investors Funds raised in two tranches: $800,000 in Tranche 1, at 0.2 cents per share $2,800,020 in Tranche 2, at 0.3 cents per share New investors own 45.4% of issued shares
Slide 6: Board & Management
Board & Management For personal use only Directors Advisors Gavin Harper Rory McGoldrick Chairman Board Advisor, Commercial & 39 yrs experience Legal Lean organisation Sino Gas & Energy 15 yrs experience Chevron Legal practice Advisory Board provides a Various directorships cost effective struct
Slide 7: Strategy
Strategy For personal use only Build a leading junior E&P company, by developing a diverse portfolio of high quality upstream petroleum assets Counter-cyclical investment strategy, building project portfolio at low cost ahead of next industry upturn Add value through low cost work, then farmou
Slide 8: Project Portfolio
Project Portfolio For personal use only 5 permits across 4 projects Located within proven WA petroleum provinces Operator of all permits except EP437 Diverse portfolio Oil & Gas Offshore & Onshore Western Australia Acquisitions achieved via favorable commercial structures Low commitm
Slide 9: WA-507-P: Northern Carnarvon Basin
WA‐507‐P: Northern Carnarvon Basin For personal use only Operator and 80% interest Large block within prolific Northern Carnarvon Basin gas province Statoil: WA-506-P No significant commitments until “Drill or Drop” decision by November 2019 Three large gas/oil prospects identified on existi
Slide 10: WA-507-P: Seismic Example
WA‐507‐P: Seismic Example For personal use only Well defined, very large structural prospects Dalia South‐1 W E Dalia South‐1 Beta drilled 300 prospect metres off‐ Muderong Shale structure Dalia Updip seal prospect Mungaroo Gamma Sandstone prospect Reservoir Jurassic oil source Seismic image shown w
Slide 11: WA-503-P: Inboard North West Shelf
WA‐503‐P: Inboard North West Shelf For personal use only Operator and 80% interest Located in shallow water on Legendre oil trend Three prospects identified on existing 3D seismic data Prospective resources independently confirmed by GCA Best case 46 MMBbls 80km2 3D seismic commitment re
Slide 12: EP416 & EP480: Southern Perth Basin
EP416 & EP480: Southern Perth Basin For personal use only Operator and 60% interest Southern Perth Basin EP416 subject to current renewal application Prospective for gas, in area of significant demand DBNGP DBNGP pipeline crosses permits Existing seismic and wells confirm gas play 200k
Slide 13: EP437: Northern Perth Basin
EP437: Northern Perth Basin For personal use only 13% interest (Operator Key Petroleum) Northern Perth Basin, on trend with multiple oil & gas discoveries Prospective for both oil & gas Three prospects identified, all updip from Dunnart‐1 & 2 wells Proximity to infrastructure enables even
Slide 14: Cornerstone Investment: Use of Proceeds
Cornerstone Investment: Use of Proceeds For personal use only A$1,140, 000 WA‐507‐P seismic license fee to TGS Nopec (paid) A$650,000 Planned 3D seismic acquisition in WA‐503‐P A$400,000 EP416/480 12 month work program (includes A$150,000 due to Empire Oil & Gas upon renewal of EP416) A$40,000 EP437
Slide 15: Prospective Resources
Prospective Resources1 For personal use only Permit Oil/Gas Low Case Best Case High Case WA-507-P2 Oil 604 MMBbl 1,581 MMBbl 3,600 MMBbl WA-507-P2 Gas 4,030 Bscf 10,047 Bscf 21,099 Bscf WA-503-P3 Oil 16 MMBbl 46 MMBbl 107 MMBbl EP416/4804 Gas 90 Bscf 270 Bscf 600 Bscf EP4375 In progress Notes: 1. Al
Slide 16: Independent Expert's Valuation
Independent Expert’s Valuation For personal use only BDO Corporate Valuation Low Value Preferred High Value Cents per Value Cents per share Cents per share share Value of Pilot Energy following completion of 0.38 0.62 0.88 the Transaction (cornerstone investment) on a minority basis RISC Asset Valua
Slide 17: In Summary
In Summary For personal use only Experienced team with solid track record and significant investment in company Delivering against a clear growth strategy Low cost base Well‐funded to unlock significant value from existing projects Working capital to pursue further acquisitions Independe
Slide 18: Contact
For personal use only Contact Media and Broker Enquiries Iain Smith Luke Forrestal/Andrew Rowell Managing Director Cannings Purple Pilot Energy Limited T: +61 8 6314 6300 T: +61 9423 3200 E: lforrestal@canningspurple.com.au E: ismith@pilotenergy.com.au arowell@canningspurple.com.au www.pilotenergy.c