Otto Energy Limited · ASX:OEL
Otto Energy — The Good Oil Conference 2008
33 slides from Otto Energy's conference presentation, Sep 3, 2008
Slide 1: Highlights
For personal use only HIGHLIGHTS 3 September 2008 • Strong board and management. Please find attached the presentation to be delivered by Otto • World class portfolio across Energy CEO, Alex Parks, at the Good Oil Conference. 4 countries. • Imminent production from Galoc at 3000-4000 bopd net to Ott
Slide 2: Otto Energy: Ready to Run
For personal use only OTTO ENERGY READY TO RUN The Good Oil Conference Fremantle WA 2008
Slide 3: Disclaimer
For personal use only DISCLAIMER • This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is not to be distributed to third parties without the consent of Otto Energy Ltd (the “Company”). • This presentation contains forward-look
Slide 4: An investment in Otto is underpinned with strong fundamentals
For personal use only An investment in Otto is underpinned with strong fundamentals: Experienced board and management Opportunity rich Self-funded with imminent production High leverage exploration program …an investment now will benefit from exposure to significant near term catalytic events!
Slide 5: Today's Presentation
TODAY’S For personal use only PRESENTATION THE GAME PLAN OUR TEAM 12-MONTHS OF PREPARATION THE RACES WE’RE IN CHANCES OF A MEDAL ON TRACK & AT THE STARTING LINE
Slide 6: The Game Plan
For personal use only THE GAME PLAN Otto aims to be an internationally-respected, multi billion dollar oil & gas company Partner of Choice Investment of Choice Employer of Choice STRATEGIC FOCUS – MAINTAIN A BALANCED PORTFOLIO 1. Operate in our time corridor (Philippines/ SE Asia) 2. Invest in low c
Slide 7: Board of Directors
For personal use only BOARD OF DIRECTORS RICK CRABB RUFINO BOMASANG JAAP POLL IAN MACLIVER JOHN JETTER CHAIRMAN DIRECTOR DIRECTOR DIRECTOR DIRECTOR (NON - EXECUTIVE) (NON - EXECUTIVE) (NON - EXECUTIVE) (NON - EXECUTIVE) (NON – EXECUTIVE) B JURIS (HONS) LLB MBA NORASIAN CHAIRMAN PHD PHILOSOPHY AND GE
Slide 8: Corporate & Technical Team
CORPORATE & TECHNICAL TEAM For personal use only Alex Parks Craig Martin CEO (Otto) COO Bruce Elsholz Kris Fellowes CFO CEO (NorAsian) John Sheppard Stefan Kleffmann Jane Secker Asset Manager Geoscience Calauit Project (NOA) Manager Manager Richard King Emma Ruben Gan Jamie Parry Commercial McCormac
Slide 9: Achievements Over the Last Months
ACHIEVEMENTS OVER THE For personal use only LAST 12 MONTHS Added to the portfolio Added Galoc as a development asset Secured additional ground floor acreage in Philippines with SC 69 Farm in to the Po Valley (Italy) as a near term drilling opportunity Licence awarded Santa Rosa, Argentina Added valu
Slide 10: The Races We're In
For personal use only THE RACES WE’RE IN NON OPERATED OPERATED Turkey, Italy, Argentina Philippines
Slide 11: The Philippines
For personal use only THE PHILIPPINES Otto holds a dominant position, operating four Service Contract areas totalling 20,803 square kilometres of highly prospective, predominantly offshore, acreages in the Philippines.
Slide 12: High Equity. High Quality. Significant Follow Up Potential.
For personal use only HIGH EQUITY. HIGH QUALITY. SIGNIFICANT FOLLOW UP POTENTIAL. SC50 (85%) Shallow water, modest Calauit & Calauit South Oil Fields: Appraisal drilling in 2009 SC51 (80%) Mid water, large Argao & Bahay prospects + 9 leads: Exploration Drilling in 2009 SC55 (85%) Deep water, massive
Slide 13: Galoc Oil Field
For personal use only GALOC OIL FIELD Otto has an indirect 18.28% interest in the Galoc Oil Field through a 32% shareholding in the field operator, Galoc Production Company which holds 58% of the field. Field now fully developed Expect to commence production in Sept 2008 Forecast initial gross produ
Slide 14: Galoc Oil Field
For personal use only GALOC OIL FIELD
Slide 15: Philippines Farm Out
For personal use only PHILIPPINES FARM OUT 2005 - Otto entered Philippines with 50% of NorAsian September 2006 - Otto acquired 100% of NorAsian and Operatorship 2006 / 2007 - Extensive seismic campaign across all blocks H1 2008 - Seismic Interpretation and drilling planning July 2008 - Farm out laun
Slide 16: SC51 >100 MMbbls Targets
SC51 >100 MMBBLS For personal use only TARGETS SC51 – STOIIP Estimates (MMstb) Prospects/Leads Low Mid High Argao 46 159 469 Bahay 15 61 198 Sabang Reef 21 56 228 Tagbilaran 9 18 44 Balatic Reef 15 45 134 Anak Argao 5 9 23 S1 43 86 167 Reef 1 3 11 34 Reef 2 1 3 9 Carbonate Platform 22 49 107 Carcar
Slide 17: SC51 – Argao Targeting 50-500 MMbbls
SC51 – ARGAO For personal use only TARGETING 50-500 MMBBLS DHI’s Suggest Gas cap Potential Oil Leg 8 levels that could EACH contain 40 - 300 MMbbls Gas Cap in place E-W SECTION OVER ARGAO
Slide 18: SC55: Elephant Country
For personal use only SC55: “ELEPHANT COUNTRY” DEEP WATER BLOCK (300-2000m) Area of 9,000km2 Massive Reef and Turbidite potential Never previously licensed as a Service Contract OTTO ACQUIRED 2D SEISMIC IN 2 SURVEYS 400km of prospect specific in Oct 06 963km of regional data in June 07 OTTO WILL FAR
Slide 19: SC55: Located Within Established Hydrocarbon Play
SC55: LOCATED WITHIN ESTABLISHED For personal use only HYDROCARBON PLAY Shell/Conoco 6km Phillips oil discovery 100km2 aerial closure GIANT MARANTAO REEF PROSPECT
Slide 20: SC55: Multi-Billion Bbl Targets
SC55: MULTI – BILLION BBL TARGETS For personal use only SC55 – STOIIP Estimates (MMstb or Bscf) Prospects/Leads Fluid Low Mid High Gas Case 1,796 5,490 12,035 Marantao Oil Case 1,018 3,056 6,687 Gas Case 452 1,399 3,704 A1 Oil Case 182 570 1,482 Gas Case 476 2,838 15,744 A2 Oil Case 224 1,315 7,142
Slide 21: Non Operated Assets: Argentina, Europe
For personal use only NON OPERATED ASSETS ARGENTINA EUROPE
Slide 22: Europe - Turkey
EUROPE - TURKEY For personal use only Edirne licence originally acquired by Otto in 2004. Discoveries under development with first gas expected in mid 2009 to become Otto’s second producing asset.
Slide 23: Thrace Basin
For personal use only THRACE BASIN EDIRNE LICENCE 6 gas discoveries on licence with additional leads identified JV has between 10-20 bcf Incremental Petroleum (Operator ) – has in country technical team, local knowledge and rig Gas marketing & development planning underway First gas production expec
Slide 24: Europe - Italy
For personal use only EUROPE - ITALY New country entry for Otto into the established Po Valley area, with good infrastructure and high gas prices. Drilling to commence Nov 2008.
Slide 25: Po Valley
For personal use only PO VALLEY BASTIGLIA-CENTO PERMITS Gazzata Operated by Ascent Gas Field Resources PLC Otto farming in for 50% November 2008 - Gazzata-1 the first well to be drilled, targeting up to 350 bcf Rubiera follow up Rubiera Further targets in block Gas Field 50 – 500 bcf range
Slide 26: Argentina
For personal use only ARGENTINA Confirmed licence awarded in May 2008, which contains the giant Santa Rosa Dome. Drilling 1H 2009.
Slide 27: Cuyana Basin
CUYANA BASIN For personal use only Santa Rosa Licence Operated by Oromin Energy Ltd Earning 32.48% by spending US$1.4 million with option to increase up to 41.24% Potential to hold over 100 MMBBLs of recoverable oil
Slide 28: Four Independent Exploration Areas
Four Independent Exploration Areas For personal use only … success at any one of them will have material impact to Otto and offers significant follow up exploration prospects AREA / CHANCE OF NOTES FIRST PROSPECT SUCCESS *Internal COS calculation ITALY 50% Low risk follow up in look-alike Rubiera Ga
Slide 29: Upcoming News Flow
For personal use only UPCOMING NEWS FLOW Commence production at Galoc 1ST CASH FLOW Sept 2008 Farm-out of Philippines projects Sept-Dec 2008 Drilling of 100bscf target Gazzata-1 well in Italy Nov 2008 Drilling up to 100MMbbl target in Argentina Q1 2009 Drilling in Philippines H1 2009 Commence Produc
Slide 30: We've set our goals
For personal use only An internationally We’ve set our goals... respected multi billion dollar oil & gas company Partner of choice Investment of choice Employer of choice
Slide 31: Our team and assets are in good shape
For personal use only Our team and assets are in good shape...
Slide 32: Production is imminent
For personal use only Production is imminent... Farm-outs are under negotiation... An active drilling program is about to commence...
Slide 33: We Are Ready to Run! Thank You.
For personal use only …WE ARE READY TO RUN! THANK YOU.