Metgasco Ltd · ASX:MEL
Metgasco — Citibank Investor Conference 2011
20 slides from Metgasco's conference presentation, May 25, 2011
Slide 1: Presentation to Citibank Investor Conference May 2011
For personal use only Presentation to Citibank Investor Conference May 2011
Slide 2: Disclaimer
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). No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information con
Slide 3: Overview
Overview Metgasco is an ASX Listed, onshore conventional and unconventional gas company, with For personal use only significant 100% owned acreage in Clarence Moreton Basin (NSW) Onshore conventional and unconventional gas Large uncommitted coal seam gas reserves – established in less than 10%
Slide 4: Corporate Overview
Corporate Overview Capital Structure Purpose For personal use only ASX code MEL Share price (20 May 2011) $0.33 Market Capitalisation (million) $82 Shares on Issue (million) 252 Options on Issue (million) 9 Cash at 31 March 2011 $7.7 Debt Nil Board and Management Team Nicholas Heath Chairman, Non-Ex
Slide 5: New Managing Director – Peter Henderson
New Managing Director – Peter Henderson For personal use only Metgasco about to transition from exploration to production Skills now added at the top of the organisation to ensure delivery of our projects Peter Henderson Senior roles with Santos, WMC, Clough & ExxonMobil Mechanical enginee
Slide 6: Acreage
Acreage World scale acreage position in Clarence Moreton Basin (CMB) For personal use only 3 tenements (PEL 16, 13 & 426) 1,126,059 acres 100% owned Active 2 year drill program demonstrated CMB is gas charged over distance of 100km Large gas resources with significant volume growth poten
Slide 7: Large and growing coal seam gas reserves
Large and growing coal seam gas reserves Australian Coal Seam Gas Reserves 100% ownership of gas (Petajoules) For personal use only reserves Company 3P 2P QGC (BG) 14,261 7,245 Large uncontracted reserve Origin 6,206 4,786 position in the CSG sector Conoco Phillips 6,206 4,786 Reserves: Shell
Slide 8: Significant progress over the last months
Significant progress over the last 12 Months CSG exploration – Bowerbird drilling program likely to deliver reserve upgrade For personal use only First drilling in PEL 13 CSG fairway interpreted to extend to the west Currently preparing data for reserve certification process CSG: drilling
Slide 9: CSG Trial Production - Richmond seam
CSG Trial Production - Richmond seam For personal use only Corella P11 – single lateral on production test for over two years Corella P18 – sidetrack single lateral (improved drilling and completion techniques) - currently dewatering Harrier P01 – dual lateral recently finished drilling – prod
Slide 10: CSG Trial Production – Thornbill E01
CSG Trial Production – Thornbill E01 For personal use only Thornbill E01 – Vertical well, no stimulation Produced gas immediately at 100Mcf/d No water production
Slide 11: Kingfisher gas field
Kingfisher gas field Kingfisher E01 For personal use only First major conventional gas discovery in NSW (November 2009) 138 meters of gas charged sands identified Additional gas charged sands likely below the TD of Kingfisher E01 Depth of system unknown Up to 500 meters of additional sec
Slide 12: Exploration program – 2010 2D seismic
Exploration program – 2010 2D seismic Kingfisher Field For personal use only Contingent resource P50 : 77 Bcf P10 : 284 Likely to be related to Mackellar North structure Mackellar Lead P50 OGIP 77 Bcf Mackellar North Lead P50 OGIP 1,312 Bcf
Slide 13: The growing importance of gas worldwide
The growing importance of gas worldwide Recent Exxon Mobil forecasts predict… For personal use only Natural gas will surpass coal use in the next two decades China’s natural gas demand will rise 6-fold Natural gas consumption will come close to oil consumption The UK Government says… The
Slide 14: Unconventional gas is here to stay
Unconventional gas is here to stay Unconventional gas For personal use only Coal seam gas Tight gas Shale Gas Hydrates and other Energy majors are hungry for positions in large scale unconventional gas resource plays Shell/ Petrochina – Acquisition of Arrow Energy A$3.5 Billion BG –
Slide 15: Multiple development pathways – gas, power, LNG
Multiple development pathways – gas, power, LNG For personal use only 700 1x 3.5 Mtpa NSW Electricity LNG Plant Market with 600 Carbon price or direct action Distance to Market (Km) 500 policy Power 400 Brisbane 300 Gas Load Mini200 LNG Nth NSW 100 Electricity ad NRPS RVPS 0 Export LNG 0 100 200 300
Slide 16: Commercialisation Agenda - Local sales and power generation
Commercialisation Agenda - Local sales and power generation For personal use only Gas sales to Richmond Valley customers 30 MW Richmond Valley Power Station Field development studies complete Site acquisition complete Development approval granted EPC contracts in discussion Offtake agr
Slide 17: Commercialisation Agenda - Lions Way Pipeline
Commercialisation Agenda - Lions Way Pipeline New high pressure gas pipeline to For personal use only connect Metgasco gas fields in Northern NSW to customers in SE Qld 145km pipeline starting in Casino (NSW) and finishing in Ipswich (Qld) Environmental Assessment Studies lodged with DOP. Regu
Slide 18: Commercialisation Agenda - LNG Sector
Commercialisation Agenda - LNG Sector Eastern Australia Gas Demand Growth For personal use only 2500 2000 10% pa demand growth PROJECTED LNG DEMAND for the next decade 1500 1000 PROJECTED DOMESTIC DEMAND 500 Source : McLennan and Magasanik Associates - 23 June 2010 Annual Gas Market Review 0 2010 20
Slide 19: Commercialisation Agenda - LNG Studies
Commercialisation Agenda - LNG Studies Metgasco gas resources should be For personal use only sufficient for LNG scale participation or development Worley Parsons LNG Feasibility Study completed Demonstrated that standalone LNG developments at Gladstone, Brisbane and offshore NSW (FLNG) are ec
Slide 20: Looking forward
Looking forward Heightened demand for gas For personal use only Domestic customers currently seeking to lock in large gas volumes Gladstone LNG projects require additional gas to meet export commitments Potential for stand-alone LNG project Metgasco is one of three companies on the east co