Metgasco Ltd · ASX:MEL
Metgasco — Investor Presentation (May 2019)
19 slides from Metgasco's investor presentation, May 31, 2019
Slide 1: Investor Presentation
For personal use only Investor Presentation Currently Drilling in GOM & Cooper Farm-Out Complete 31 May 2019
Slide 2: Agenda
Agenda For personal use only ‒1 Company Snapshot ‒2 Byron Energy SM74 ‒3 Cooper/Eromanga Basin ATP2021 ‒4 Cooper/Eromanga Basin ATP2020 ‒5 Achievements over the last 12 months ‒6 2019/2020 Indicative Timeline ‒7 Conclusions – Upcoming Investment Highlights 8 Disclaimer/Prospective Resource Notes ASX
Slide 3: Company Snapshot
Company Snapshot Metgasco is an active exploration company anticipating production revenue Q4 CY 2019 For personal use only Company overview ▪ Experienced team focused on building value in the business Substantial shareholders & Board Keybridge Capital Limited 20.22% ▪ In 2018 MEL farmed into the SM
Slide 4: Shallow GOM: SM74 – D-14 Well Drilling Underway
Shallow GOM: SM74 – D-14 Well Drilling Underway Metgasco farmed in for a WI of 30% of Byron Energy operated SM74 block For personal use only 45 day exploration well D-14 spud on 15 May 2019 to drill the Raptor prospect Exploration Key Data Country USA Basin GOM Licence SM74 Well SM74 D-14 Farm in fo
Slide 5: Raptor Prospect Identified by RTM Seismic
Raptor Prospect Identified by RTM Seismic Tex-X Production 320 Bcf For personal use only ▪ Raptor identified on Salt existing 3D via RTM Dome technology & vector image partitioning Raptor Prospect Tex-X Sand SM74 ▪ Local area has historically produced large quantities of hydrocarbons ▪ Follow-up pro
Slide 6: D-14 Drilled from SM73 Platform & Connected to Market
D-14 Drilled from SM73 Platform & Connected to Market ▪ Innovative drilling planning approach reduces economic threshold of D-14 For personal use only ▪ On success the D-14 well can be producing and generating $ by Q4 2019 ASX: MEL 6
Slide 7: ATP 2021
ATP 2021 ATP 2021 surrounded by commercial gas and oil fields – Cumulative gas prod of ~600Bcf within 20km of permit boundary For personal use only ATP 2021 Vali Cum. Cum Odin Prospect Prod. Prod Prospect Field (Bcf) (mmbl) Beckler 32.4 Bow 4 Burke 55.6 Crowsnest 11 Dullingari 307 11.05 Altar Dullin
Slide 8: ATP 2021 Farm-Out to Vintage Energy
ATP 2021 Farm-Out to Vintage Energy ▪ On 22 May the Board of Metgasco announced that it had executed a Heads of For personal use only Agreement (HOA) with Vintage Energy Ltd (Vintage) in respect of its Cooper- Eromanga Basin asset ATP 2021 with ASX-listed Vintage Energy Ltd (ASX: VEN) ▪ The joint ve
Slide 9: ATP 2021 Vali Prospect Depth Maps: E-W Seismic Line
ATP 2021 Vali Prospect Depth Maps: E-W Seismic Line For personal use only ➢ Farm-out partner Vintage Energy has agreed to drill the Vali prospect in Q4 2019* and planning has commenced. ➢ Vali is a robust anticline with dual primary targets of the Toolachee and Patchawarra Formations ➢ The structure
Slide 10: ATP 2021 Odin Prospect Depth Maps: NW-SE
ATP 2021 Odin Prospect Depth Maps: NW-SE For personal use only A A’ ➢ Odin is a robust anticline with dual gas targets at the Toolachee and Patchawarra Formations. ➢ The structure has been mapped on recently acquired 2016 3D Seismic ➢ The Toolachee Formation has independent closure with an estimated
Slide 11: ATP 2021 Prospective Resources - Raw Gas
ATP 2021 Prospective Resources - Raw Gas For personal use only Vali Prospect Low (P90) Best (P50) High (P10) Net OGIP (Raw) Bcf 6.6 26.3 101.2 Net Recoverable Gas (Raw) Bcf 4.8 19.0 72.9 Odin Prospect Low (P90) Best (P50) High (P10) Net OGIP (Raw) Bcf 3.8 12.0 37.8 Net Recoverable Gas (Raw) Bcf 2.7
Slide 12: ATP 2021 Shallow Oil Potential
ATP 2021 Shallow Oil Potential Preliminary work on the shallow oil prospectivity of the ATP2021 license has indicated a number of prospects and leads (see map below). The 2D seismic For personal use only over the greater Kinta area is planned to be re-processed over the next 2 months to enable oil p
Slide 13: Cooper Basin ATP 2020: Local Fields and Discoveries
Cooper Basin ATP 2020: Local Fields and Discoveries Oil and gas fields/discoveries/shows to west, north and east - pipeline across block For personal use only Tamarama 1: Cocos 1: Basin centred gas discovery Flowed Gas on test Recovered gas on test. Mt Howitt: Whanto Gas Field Cum Gas: ~1.4 Bcf Cum.
Slide 14: ATP 2020: Loki Lead
ATP 2020: Loki Lead Multiple exploration targets with oil and gas potential - Close to existing infrastructure For personal use only Exploration Key Data Country Australia Basin Cooper/Eromanga Independent 4 way dip Licence ATP 2020 closure P90 Well Loki Lead Licence Entry QLD Government Gazettal P5
Slide 15: ATP 2020 Seismic Reprocessing and Planned Acquisition
ATP 2020 Seismic Reprocessing and Planned Acquisition For personal use only ➢ Re-processing of 2D seismic over the Loki Lead has been delayed due to difficulty accessing original seismic tapes from Government /Previous operator ➢ Acquisition of 2D seismic is planned for June/July 2019. ASX: MEL 15
Slide 16: Achievements Over the Last Months
Achievements Over the Last 12 Months Significant achievements have been made in the last 12 months in 3 focus areas For personal use only Byron Energy GOM JV Cooper Eromanga Basin Corporate ✓ Farmed into SM74 Licence ✓ Reviewed prospectivity of ✓ CEO recruited in Sept 2018 ✓ Currently Drilling SM74
Slide 17: 2019/2020 Indicative Timeline
2019/2020 Indicative Timeline For personal use only Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 If discovery Farm-out process- secure complete/test / MEL ATP 2021 Develop and Cooper Basin Hand over operatorship. Drill Vali & book reserve and Oil & Gas quality partner Vintage produce Well Plannin
Slide 18: Conclusions - Upcoming Investment Highlights
Conclusions - Upcoming Investment Highlights Near term operational, corporate and macro news flows will provide a number For personal use only of share price catalysts Successfully Completed Planning underway to drill Vali prospect on ATP2021 in Q4 CY 2019 Farm-Out on ATP2021 SM74 D-14 well 30% MEL
Slide 19: Disclaimer / Prospective Resource Notes
Disclaimer / Prospective 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 fa