Bengal Energy Ltd. · TSX:BNG
Bengal Energy — Investor Presentation (August 2012)
21 slides from Bengal Energy's investor presentation, Aug 13, 2012
Slide 1: August 2012
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Slide 2: Corporate Information
Corporate Information Toronto Stock Exchange BNG Shares (June 30, 2012) 52.1 million Options (June 30, 2012) 3.6 million Average exercise price $1.14 Market Capitalization at $0.66 (Aug 10, 2012) $34 million Cash $19.7 million (June 30, 2012) 2P Reserves NPV10 (100% Independent) $16.7 million (March
Slide 3: Bengal's Assets
Bengal’s Assets • Large land positions focused in proven, producing basins • 2.2 million net acres with 90% operated • Attractive fiscal terms with world pricing • Active petroleum jurisdictions with substantial prospectivity • Strong regulatory framework with British common law • Generally low comm
Slide 4: Current & Planned Activities
Current & Planned Activities AUSTRALIA INDIA Cooper Basin Cauvery Onshore (30%) Active drilling campaign • 3D acquisition continues – total 600 km2 • Tookoonooka (100%) – 3 firm and 3 • Drill 3 exploration wells (2013) contingent locations targeting multiple zone plays • Cuisinier (25%) – Drilled 1
Slide 5: The Cooper Basin
The Cooper Basin Key Permits • Tookoonooka (ATP 732P) 100%*, 654,335 acres • Barrolka (ATP 934P) 50%*, 361,268 gross acres • Barta (ATP 752P) 25%, 360,033 gross acres • Wompi (ATP 752P W) 30% 215,631 gross acres *Operated Permits Key Players Santos, Beach, Drillsearch, Arrow (Shell), Senex Key Drive
Slide 6: Cooper Basin expanding supply options for LNG
Cooper Basin expanding supply options for LNG • Strong growth in eastern AUS gas due to Asian LNG demand • 3 Approved Gladstone LNG projects expected to add 25 mm tonnes per year of demand* • Conventional (non-CSG) gas supplies will be critical to meet export and domestic demand • Bengal has 834,000
Slide 7: ATP 732 Tookoonooka Cooper Basin
ATP 732 Tookoonooka Cooper Basin The Play Kenmore 13,280,230 bbls* • Greater than 1,000 square miles, Panthera 1 surrounded by some of onshore Australia’s largest producing oil fields • Stacked multi-zone play types • Targets primarily light oil & gas Characal 1 The Plan • Drill 3-6 wells in 2012 •
Slide 8: ATP 732 – Tookoonooka, a unique area
ATP 732 – Tookoonooka, a unique area • The geology is quite unique due to the location of a meteorite impact crater • Impact produced large structures creating great opportunities to trap hydrocarbons • Post impact sedimentation also effected - creating both reservoirs and traps • Impact occurred ~
Slide 9: Bengal Caracal-1 Oil Target
Bengal Caracal – 1 Oil Target Triodia -1 TYPE LOG – WYANDRA – TRIODIA 1 Perforations swabbed. No form Fluorescence fluid recovered. in samples Wyandra OOO 2 3 DST 1: 1 Tool plugged DST 2: Packer seat Bengal Caracal-1 failure Location DST 3: Packer seat failure Red closure area is Fluorescence Murta
Slide 10: ATP 732 - Drilling Execution
ATP 732 - Drilling Execution • Bengal has just acquired an Ideco H-44 drilling rig with associated equipment. • The rig is a 750 HP carrier-mounted Double (depth capabilities of 3,000m). Reduced Cost Structure – Lower rates will mean a more efficient use of capital. Reduced Program Execution Ris
Slide 11: Cuisinier, ATP 752 Barta Permit
Cuisinier, ATP 752 Barta Permit • Early success on large under explored block - 8 wells with 100% success • Production coming from stacked sands of the Murta Formation • 3D seismic has been used to high grade areas of better sand development for appraisal Existing 3D drilling • Large prospective are
Slide 12: Cuisinier 2012 Program Cooper Basin
Cuisinier 2012 Program Cooper Basin • Drilled 4 wells – all cased as future oil CN 1 producers, 100% success with Murta DC70 sands established as oil bearing over 4.4 kms at Cuisinier. 4 6 2 • Complete and tie-in all 4 wells Q4 1 To Cook Facility 3 • Tie-in the standing Barta North-1 to Cuisinier-1.
Slide 13: Cuisinier – Enhanced Structural Picture
Cuisinier – Enhanced Structural Picture BEFORE AFTER CN 1 CN 1 6 6 4 4 2 2 1 1 To Cook 3 3 Facility BN1 5 BN1 5 Interpreted Lowest Oil (-1535m) Murta Depth Structure Murta Depth Structure POST-2012 Drilling Pre-2012 Drilling Program Program CI =5m CI =3m Blue outline: D&M 3P Mar 31, 2012 Revised str
Slide 14: India's Cauvery Basin
India’s Cauvery Basin Facts and Figures (see note) • Onshore block (BNG 30%) • Offshore block (BNG 100%) • India’s gas demand is projected to rise from current 189 MMSCMD to 473 MMSCMD by 2016-17. ** • With increased development of gas- fired power stations, gas consumption has increased by 160% sin
Slide 15: India - Cauvery Basin
India - Cauvery Basin Offshore: BNG 100% (approx. 1,362 sq kms) • 100% cost recovery with 80% initial profit oil • Minimum work commitment • Offsetting block has ~ $110 million in work commitments • Prospect depth 3,400 – 4,500m (275m water depth) Onshore: (approx. 946 sq kms) PY-1* production • BNG
Slide 16: Timor Sea AC/P47 Offshore Australia
Timor Sea AC/P47 Offshore Australia Phase One Work Program ~750 km2 3D seismic Q3/Q4 2012 Phase Two requires a single well Reserve Estimate Sources: *Department of Primary Industry, Fisheries and Mines, Northern Territory **SPE 63222, Currie, J.C. et al 2000 ***Inpex 15 Note: See disclaimer on analo
Slide 17: 2012 Program at a Glance
2012 Program at a Glance Total Capital $24.2 MM (April 2012 – March 2013) Focused on Exploration & Development Drilling in the Includes 4 successful Cooper Basin, Australia wells at Cuisinier Cooper Basin Drilling Completions & 55% Equipping 5 net/8 gross 15% wells Miscellaneous (includes rig purcha
Slide 18: What's Next for Bengal
What’s Next for Bengal 2012 2013 DRILLING Cuisinier Tookoonooka - Phase 1 Tookoonooka - Phase 2 Cuisinier - Development Tookoonooka - Phase 3 Onshore Cauvery Basin SEISMIC Onshore Cauvery Basin Timor Sea AC/P47* Cuisinier Offshore Cauvery Basin* Tookoonooka - Phase 2 FACILITIES Cuisinier - Well Tie-
Slide 19: Bengal: A Sound Investment
Bengal: A Sound Investment • Exposure to world-class opportunities - Large operated acreage in Australia and India in proven producing basins - Operating in active hydrocarbon jurisdictions with substantial prospectivity • Solid portfolio of assets and opportunities - Near-term, low-risk opportuniti
Slide 20: Disclaimer
Disclaimer Analogous Information Certain noted drilling, completion and production data provided in this document may constitute “analogous information”, such as production-rates from wells drilled by the Company or other industry participants located in geographical proximity to lands held by the C
Slide 21: Forward-looking Statement
Forward-looking Statement Certain information regarding Bengal set forth in this document contains forward-looking statements. The use of any of the words “plan”, “expect”, “project”, “intend”, “believe”, “should”, “anticipate”, “estimate” or other similar words, or statements that certain events or