Metgasco Ltd · ASX:MEL
Metgasco — Shareholder Meeting (November 2024)
16 slides from Metgasco's shareholder meeting presentation, Nov 28, 2024
Slide 1: AGM Presentation 28 November 2024
For personal use only Cooper Eromanga Basin TWO GAS FIELDS PRODUCING INTO UNDERSUPPLIED EASTERN AUSTRALIA MARKET Odin Field via Odin-1 Vali Field on producing since Sept production via Vali-1 CY23 . Odin-2 online since February CY23 AGM Presentation 28 November 2024 October CY24
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer For personal use only 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
Slide 3: Since Last AGM 2023
1 Since Last AGM 2023…. For personal use only 1 First Full Year of Cooper Basin Gas Production 5 2P Reserve Increase by 45% to 36.55 PJe * 2 36.55 . 2 Drilling Success at Odin-2 in May/June 20.1 3 3 2nd Odin Well Brought Online October F 4 FY23 FY24 4 Vali /Odin Optimization Work Program *Refer ASX
Slide 4: Cooper Basin Expansion – Hub & Spoke Strategy
Cooper Basin Expansion – Hub & Spoke Strategy For personal use only Hub and Spoke gas appraisal strategy to build production Odin-2 example of hub and spoke strategy. Staged revenue and shareholder value growth of gas production to develop Odin & Vali Cooper Basin generated $2.4M net sales revenue i
Slide 5: Corporate Snapshot
Corporate Snapshot (ASX:MEL) * For personal use only Metgasco is a petroleum (oil and gas) exploration and production company, that is now a revenue generating gas producer through its Vali and Odin fields 2P Reserves by field (at 30 June 2024) located in the ATP2021 and PRL211 Licences in the Coope
Slide 6: Odin-2 Appraisal Drilling
Odin -2 Appraisal Drilling For personal use only Odin-2 maintained Metgasco 1 00% drilling success rate in Schematic cross-section of Odin-1 and Odin-2 the Cooper/Eromanga Basin SW Odin-1 Odin-2 NE Key to well results • In June CY24 Odin-2 successfully appraised north-eastern extent of Gas recovered
Slide 7: Upscaling Odin Gas Field Production
Upscaling Odin Gas Field Production For personal use only Odin-1 Optimization & Odin-2 Appraisal tie-in has significantly increased field gas production Odin Field Overview Odin-1 Odin-2 Perforation, Completion and Tie-in • Commenced production 14 September 2023 • Sept CY24 -Perforated Epsilon, Tool
Slide 8: Proved and Probable Reserves increased by 45%
Proved and Probable Reserves increased by 45% For personal use only • > 30 PJ of gas reserves uncontracted which is connected to, or close by existing infrastructure • Metgasco exempt from the $1 2/gj price cap • 2P reserves increased from 4.3 MMboe to 6.3 MMboe* • Conversion of Odin Contingent Reso
Slide 9: Southern State Gas Market Fundamentals
Southern State Gas Market Fundamentals For personal use only Gas Prices are attractive and supply shortfalls are forecast to grow Gas commodity prices for 2024 supply to southern states* Southern states forecast gas production and demand 2025- 2035* * Source ACCC Gas Inquiry 2017-2030 December CY23
Slide 10: Southern Flank Location and Growth Opportunity
Southern Flank Location and Growth Opportunity For personal use only Proven gas province between highly productive regions in SA and Queensland Lightly explored and developed region between Ballera gas plant (Queensland) and Dullingari satellite (South Australia) Connected to Moomba gas plant by ATP
Slide 11: Metgasco fields on production in the Southern Flank
Metgasco fields on production in the Southern Flank For personal use only Established production via Santos and Vali/Odin pipeline connection to Moomba Overview Overview • Vali/Odin facilities connected to SACB Network and • Vali 1 gas discovery in 2020 . Vali-2/3 drilled in 2021 Moomba processing p
Slide 12: ATP2021 Vali Gas Field
ATP2021 Vali Gas Field For personal use only Appraisal by Production. Supplying Gas to AGL Production from Vali-1 commenced in Feb 2023 from Patchawarra formation At end of FY24 Vali Field gross 2P reserves 100PJe*(MEL share 25PJ) Gas processed and sold ex-Moomba Supplied to AGL under long term cont
Slide 13: ATP2021 – Opportunity for Commercial Oil Discoveries
ATP2021 –Opportunity for Commercial Oil Discoveries For personal use only Drill Ready Prospects and leads …up to 20 closures mapped in ATP2021 Highly prospective area for oil ~11 MMbbls of oil production at Dullingari Oil production from the Roseneath field to the south Oil recovery from well to eas
Slide 14: Metgasco – Key Reasons to Invest
Metgasco – Key Reasons to Invest For personal use only Exposure to east coast gas with existing supply, uncontracted gas, gas production hub in place, plus running room for exploration value accretion. Uplift in Odin production and Significant uplift in Odin gas production delivered revenue Gas supp
Slide 15: Reserve Notes & Glossary
Reserve Notes & For personal use only Glossary The reserve volumes for Vali and Odin were independently certified by CDRI reference Metgasco ASX release 17 October 2024.The Vali and Odin gas reserves shown in this presentation were shown in Metgasco’s FY24 Annual Report (ASX release 17 October) and
Slide 16: Contact Info
For personal use only Contact Info: Ken Aitken Metgasco Ltd ACN 088 196 383 Managing Director Level 3, 88 William Street Perth, WA 6000 + 61 8 9463 2463 +61 8 9463 2463 ken. aitken @metgasco.com.au info@metgasco.com.au www.metgasco.com.au