Star Energy Group Plc · LSE:STAR
Star Energy — Dart Energy — UBS Resources & Energy Conference 2011
26 slides from Star Energy's conference presentation, June 2011
Slide 1: The First Global Coal Bed Methane Company
The First Global Coal Bed Methane Company Company Presentation UBS Resources & Energy Conference, Sydney, June 2011 ASX: DTE:AX www.dartenergy.com.au
Slide 2: Important Disclaimer
Important Disclaimer Notices This presentation (Presentation) has been prepared by Dart Energy Limited (ABN 21 122 588 505) (Dart). This Presentation is not a prospectus or a product disclosure statement under the Corporations Act and has not been, nor is it required to be, lodged with the Australia
Slide 3: Overview
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Slide 4: Dart Energy at demerger – July 2010
Dart Energy 1 Dajing PSC (PetroChina) - pending Liulin PSC At demerger 2 3 Tatapani-Ramkola block – July 2010 Mongolia 1 4 Tien HaiBlock 5 Sangatta West PSC North Korea Beijing 6 Tanjung Enim PSC South Korea 7 Farm-in to 2x Apollo Gas Blocks Afghanistan 2 CHINA Office locations Pakistan Nepal Bhutan
Slide 5: Dart Energy one year on – June 2011
Dart Portfolio Summary as at 31/5/11 (independently certified) Dart Energy Active CBM Licences(1) 36 Countries 8 Coal Basins 18 Gross CBM Acreage (km2) 38,091 Gross CBM Prospective Resource (Tcf) 32.9 Dart Europe One year on Net CBM Acreage (km2) 28,785 Net CBM Prospective Resouce (Tcf) 19.6 PEDL133
Slide 6: Exposure to attractive growth markets with substantial margins
Business Exposure to attractive growth markets with substantial margins…. Rationale Nuclear Markets 12 Margin Ups i de to Monetisation 11 LNG export Upside pri ci ng 10 to gas import $8.00 - $12.00 Value chain parity pricing 9 pricing upside Value chain Supply constraint (eg CNG) pricing upside Impo
Slide 7: Portfolio approach to managing high-quality CBM assets
Business Portfolio approach to managing high-quality CBM assets Strategy Portfolio Risk mitigation – not reliant on any asset, country, basin or partner to deliver value Approach Capital allocation – reallocate funds across the portfolio to produce the highest value Resource optimisation – maximise
Slide 8: Program
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Slide 9: Dart's 12-18 month forward work program is fully funded
2011 – 2012 Dart’s 12-18 month forward work program is fully funded work program Funding Sources Uses 1 Current sources A$m Business expenditure A$m Cash on hand 1 156.9 Australia 20.3 Cash‐backed guarantees 2 9.0 China 30.4 Liquid securities 3 15.4 South Asia 32.1 TOTAL SOURCES 181.3 Europe 21.6 Su
Slide 10: Expenditure balanced across portfolio by activity and region
2011 – 2012 Expenditure balanced across portfolio by activity and region work program Region Key items Exploration Appraisal Development Total Portfolio-wide & Access & Pilots exploration, Australia • Portfolio exploration drill‐out appraisal and 12 wells • PEL 458 pilot early • Commercialisation op
Slide 11: Australia Work Program
Australia Work Program 2011 – 2012 work program Australia program summary Milestones to monetisation PEL 458 and coastal permits: exploration and pilot • 2011 – commence exploration / pilot drilling • 2012 - exploration data and establishment of commercial strategy • Daandine-like development (poten
Slide 12: China Work Programme
China Work Programme 2011 – 2012 work program China program summary Milestones to monetisation Dajing: permeability and gas content • Ready to start drilling - contractor selection, rig access, permitting complete • 2011: exploration data; establish scale potential • 2012: further pilots; market ass
Slide 13: South Asia Work Program
2011 – 2012 South Asia Work Program work program South Asia program summary Milestones Sangatta West (Indonesia): initial pilot-to-power • Pilot underway; good first gas flows observed • 2011: exploration data and commence initial pilot-to- power sales; reserves certification • Upside on scale - Bon
Slide 14: Europe Work Program
Europe Work Program 2011 – 2012 work program Europe program summary Milestones PEDL 133 (Scotland): commercialisation • 2011 - reserve certification and commercialisation strategy; commence pilot • 2011 - assessment of shale potential Round 13 Licences (UK): exploration • Portfolio drill-out and exp
Slide 15: Programme Update
2011 – 2012 work program Programme Update China • Liulin • 4 rigs have been deployed in Luilin year‐to‐date; 2 currently on site • 6 wells drilled, including first ever radius bend intersect of a slant well from same well pad • Ongoing production testing • Dajing • Final approvals for rig deployment
Slide 16: Programme Update Cont.
2011 – 2012 work program Programme Update Cont…. India • 1 rig deployed to Electrosteel block • The first well is coring presently at approximately 700m • Additional 1 core hole and up to 6 production wells planned for the Electrosteel block in 2011 • 2 rigs for CBM IV blocks (Assam and Satpura) are
Slide 17: Summary
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Slide 18: Work programme to deliver results across the portfolio during 2011-2012
Summary Work programme to deliver results across the portfolio during 2011 - 2012 Targets provide Portfolio enhancement clear near-term • Targeted 4 new licences by end 2011 – already achieved value catalysts • Look for strategic new licence additions in Indonesia (9 under evaluation); India (up to
Slide 19: A unique investment opportunity
Summary A unique investment opportunity Investment highlights Resource base of scale • Diversified global portfolio – sizeable acreage, GIP, prospective resource • Established operations, retained IP and delivery capability leading to swift resource maturation Markets offering numerous monetisation
Slide 20: Questions
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Slide 21: Additional Dart Energy portfolio & company information
Additional Dart Energy portfolio & company information 21
Slide 22: Detailed portfolio summary
DART ASIA Location Dart Interest Operator Area Gross OGIP Gross Resources (Tcf) 2 Additional Sangatta West PSC East Kalimantan, Indonesia 24% Dart & Ephindo (km ) 1,301 (Tcf) 0.6 Prospective 3C 2C 0.3 Materials Tanjung Enim PSC Muralim PSC South Sumatra, Indonesia Central Sumatra, Indonesia 45% 50%
Slide 23: Highly experienced board and management with strong track record
Additional Highly experienced board and management with strong track record Materials Management Board and management team with proven track record of project delivery and shareholder value creation Unrivalled depth of CBM and operations experience across the gas value‐chain Well established operati
Slide 24: China and Scotland knowledge transfer
Additional China Scotland Materials Liulin project, Ordos Basin, China Knowledge PEDL 133 is located near Stirling, Multiple thin low permeability coal Scotland transfer seams Multiple thin, low permeability coal Existing wells – Inseam cluster seams development • 2 x inseam well, each with up to Pl
Slide 25: Development funnel
Additional Materials Development funnel Resource Delivered or likely to be delivered allocation and 2 Years Possibility of delivery risk mitigation Indonesia HoA’s Maturing Poland: New Licences 1 Year Now Australia Europe licences Muralim UK: 14th Rd NSW 461 Hanoi Milejow PEDL133 Dajing Sangatta Ada
Slide 26: Contact Information
Contact Dart Energy Limited Information Singapore (Head Office) 152 Beach Road, #19‐01/04 The Gateway East Singapore 189721 Tel: +65 6508 9840 Fax: +65 6294 6904 Australia (Registered Office) Level 11, Waterfront Place, 1 Eagle Street GPO Box 3120 Brisbane QLD 4001 Tel: +61 7 3149 2100 Fax: +61 7 31