Metgasco Ltd · ASX:MEL
Metgasco — Shareholder Meeting (November 2017)
25 slides from Metgasco's shareholder meeting presentation, Nov 9, 2017
Slide 1: Annual General Meeting - Chairman's Address to Shareholders
For personal use only Annual General Meeting Thursday, 9 November 2017 Chairman’s Address to Shareholders
Slide 2: Disclaimer
Disclaimer This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Limited (Metgasco). No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of For personal use only information
Slide 3: Content
Content For personal use only 1. Organisational Structure & Administration 2. Capital Management 3. Share Price Performance 4. Current Business 5. New Business Opportunities & Strategy 9 November 2017 Page 3
Slide 4: Organisational Structure & Administration
For personal use only Organisational Structure & Administration 9 November 2017 Page 4
Slide 5: The Team
Organisational Structure & Administration For personal use only The Team Alexander Lang, Executive Chairman, joined Feb 2016; Philip Amery, Non-Executive Director, joined Dec 2015; John Patton, Non-Executive Director, nominated by Keybridge Capital, joined Sep 2016; Andrew Purcell, Non-Exec
Slide 6: Organisational Structure & Administration - continued: Cost Management
Organisational Structure & Administration - continued Cost Management For personal use only Cost management efforts over the past two years led to significant savings on overhead and admin expenses; Overhead and admin costs reduced by 50% while level of activity increased; Overhead and admin
Slide 7: Capital Management
For personal use only Capital Management 9 November 2017 Page 7
Slide 8: Capital Return
Capital Management For personal use only Capital Return Following the approval by shareholders on 12 September 2016 and the subsequent ATO class ruling, the capital return to shareholders of $0.025 per share was completed on 16 November 2016; A total of $9,961,649 was returned to shareholders.
Slide 9: Cash and Investments
Capital Management For personal use only Cash and Investments As of 30 September 2017 the company held: A cash balance of $6.9m 37,897,000 shares in BYE (acquired at $0.07) with a market value of $3,638,112 (as at 29 Sep market value $0.096 per share); Secured receivable from BYE of $8m. 9 N
Slide 10: Share Price Performance
For personal use only Share Price Performance 9 November 2017 Page 10
Slide 11: Share Price Performance
Share Price Performance In FY 2016/17 our shares have appreciated by ~18%; For personal use only Since 30 June our share price has improved by another ~30%; A total increase of ~53% in the past 16 months. (all numbers to 6th November this year) $A 0.055 Share price 0.052 0.050 0.045 0.045 0.04
Slide 12: Shareholder Returns
Share Price Performance Shareholder Returns For personal use only Total shareholder return for period 1 July 2016 to 6th November this year, adjusted for the capital return in November 2016, has been ~43% (source: Bloomberg) 9 November 2017 Page 12
Slide 13: Shareholder Returns since disposal of prior assets
Share Price Performance Shareholder Returns since disposal of prior assets For personal use only Total shareholder return since receipt of settlement with the NSW Government in December 2015 to 6th November this year, adjusted for the capital return in November 2016, has been ~52% (source: Bloom
Slide 14: Current Business
For personal use only Current Business 9 November 2017 Page 14
Slide 15: Multi-Level Engagement in Byron Energy (BYE)
Current Business For personal use only Multi-Level Engagement in Byron Energy (BYE) Convertible Note - Loan facility was fully drawn ($8m) by BYE in January 2017; - BYE making all interest and repayment instalments as and when they are due; - First repayment instalment of $1m was received in Oct
Slide 16: Multi-Level Engagement in Byron Energy (BYE) - Equity Investment
Current Business (continued) For personal use only Multi-Level Engagement in Byron Energy (BYE) Equity Investment - MEL exercised its priority right and subscribed to 37,897,000 BYE shares on 14 August 2017 at a price of $0.07 for a total investment of $2,652,790; - MEL is now a substantial shar
Slide 17: Senex Frey-1 Well Farm-In
Current Business (continued) For personal use only Senex Frey-1 Well Farm-In In late September Metgasco joined Senex Energy and Cooper Energy via a farm-in investment into the Frey-1 area in South Australia; Metgasco was responsible for paying 30% of the drilling cost in exchange for a 20% wor
Slide 18: Cooper Basin Blocks
Current Business (continued) For personal use only Cooper Basin Blocks In December 2016 Metgasco succeeded in its bid for tender areas PLR 2015-5-16 (370km2) and PLR 2015-5-19 (530km2) in the Cooper-Eromanga Basin; High quality exploration opportunities proximal to delivery infrastructure in m
Slide 19: Cooper Basin Blocks
Current Business (continued) Cooper Basin Blocks For personal use only 9 November 2017 Page 19
Slide 20: Cooper Basin Blocks – Development Status
Current Business (continued) For personal use only Cooper Basin Blocks – Development Status Environmental Authorities were granted by the Queensland Department of Environment and Heritage Protection; Native Title negotiation with traditional land owners (Wongkumarra People) are well advanced.
Slide 21: New Business Opportunities & Strategy
For personal use only New Business Opportunities & Strategy 9 November 2017 Page 21
Slide 22: Ongoing Review of New Opportunities
New Business Opportunities & Strategy For personal use only Ongoing Review of New Opportunities Intense focus on search for opportunities in oil & gas sector Opportunities undergo a structured process of: - Identification; - Initial assessment; - Development of commercial model; - Due diligenc
Slide 23: We remain flexible in the nature of opportunities we consider
New Business Opportunities & Strategy (continued) For personal use only We remain flexible in the nature of opportunities we consider Regional spread - Australia; - Overseas (US, SEA, Europe). Potential opportunities include: - Transactions on a corporate level; - Transactions on an asset/proj
Slide 24: Strategy
New Business Opportunities & Strategy (continued) For personal use only Strategy Metgasco will continue to pursue its strategy to: build a diversified portfolio within the Oil & Gas sector; seek short and medium term healthy cash flows; and long term exploration upside; in order to grow sust
Slide 25: Thank You - Questions?
For personal use only Thank You Questions? 9 November 2017 Page 25