Strike Energy Limited · ASX:STX
Strike Energy — Strike Oil — Shareholder Meeting (November 2005)
29 slides from Strike Energy's shareholder meeting presentation, Nov 29, 2005
Slide 1: Chairman's Address and AGM Presentation
61 8 9225 4448 G Strike Oil keoil.COm.au 29 November 2005 Australian Stock Exchange Ltd Via Electronic Lodgement CHAIRMAN’S ADDRESS AND AGM PRESENTATION Please find attached the Chairman’s Address and Activities Report to be presented at the Annual General Meeting to be held at 9am on 30 November 20
Slide 2: Chairman's Address to the Annual General Meeting
STRIKE OIL LIMITED (ABN 59 078 012 745) CHAIRMAN’S ADDRESS TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS OF STRIKE OIL LIMITED HELD AT THE PRESIDENTS ROOM, CELTIC CLUB 48 ORD STREET, PERTH, WESTERN AUSTRALIA ON WEDNESDAY 30 NOVEMBER 2005 AT 9.00AM At the time of Strike Oil’s Annual General Meeting i
Slide 3: Chairman's Address (continued): Cooper Basin, US and coal seam gas interests
Strike Oil has interests in four permit areas in the Cooper Basin in South Australia and Queensland which we believe provide good oil prospectivity. We expect seismic activity to commence shortly in ATP 633P where we hold a 15% interest with Beach Petroleum as Operator. This activity is subject to f
Slide 4: Rig shortage and board matters
The industry continues to encounter problems with regard to a shortage of drilling rigs which is in fact a worldwide problem. Smaller companies like Strike Oil could be affected as the larger companies look to place rigs on term contracts to mitigate against escalating day rates. Strike Oil had been
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Slide 6: Activities since August 2004, Strategy, Forward program
GF strike Oil ® Activities Since August 2004 (post-listing) ® Strategy ® Forward program
Slide 7: Activity Since August 2004
Gstrike Oil Activity Since AS Carnarvon Basin AUSTRALIA ® Drilled 4 offshore wells @ Generated new leads and prospects ® Commenced next round of seismic Cooper Basin ® Finalising Native Title | © Farmed out PELA 71 and PELA 96 Other Interests @ 4 Comet Ridge Limited @ IK Kingston Energy Pty Ltd Secu
Slide 8: USA activity: Gulf Coast Texas and Rocky Mountains
@strikeoil_ USA Gulf Coast Texas (onshore) @ Committed to ongoing gas exploration program @ Drilled 4 onshore wells Rocky Mountains ® Joint Venture established @ Tow Creek Lease acquisition
Slide 9: Drilling Summary
GF strike Oil Drilling Summary (Si __ | CARNARVON RESULTS INTEREST | OPERATOR BASIN Altostratus 1 90% Strike Oil 3 metre gas. interval Non-commercial Boojum 1 50% Tap Oil 17. metre gas interval Non-commercial Cooper.i ~ AY Strike Oi No significant hydrocarbons Gats 1 16.26% Apache No significant : E
Slide 10: Rocky Mountains map
ESSN SESS SSIS I g GN LLL ae ary a. co : ict aliz es Rocky Mountains a S a & welts)
Slide 11: More Balanced Project Portfolio
F Strike Oil —_ More Balanced Proje Va oe Be . . High Carnarvon RETURNS Moderate (Rocky \_ Mountains / Low Low Moderate High RISK
Slide 12: Provisional Forward Program
GF strike Oil Provisional Forwar. 2005 2006 Indicative ist Half 2nd Half Prospect PROJECT AREA Nov Dec | Jan Feb Mar Apr May jun | Jul Aug Sep Oct Nov Dec Potential 5-20 Bcf cute coast A RAIA A A A A Vey eg Mh Ay *(40-26%) ay ane Py, eo Sy %e ROCKY MOUNTAINS A A A 0.5-3MMbbI (20-40%) COOPER BASIN te
Slide 13: Builds on strengths
Builds on strengths — Track Record — Contacts Balances risk profile Potential to build early cashflow business Opportunity for increased activity High oil and gas prices (> US$55/barrel, > US$10/mcf)
Slide 14: Gulf Coast Texas and Rocky Mountains
@strikeoil_ Gulf Coast, Texas ® Operator, Cypress E&P @ Gas focus @ 4-9 wells planned Rocky Mountains @ Operator, Comet Ridge Ltd ® Oil and gas focus ® 2-3 wells planned
Slide 15: Texas Gulf Coast Cypress prospects
GF strike Oil Jamex vo om i Cypress Pa i 1 7 WEBERNICK 4 “oo q Cypress erate 12000 49000 42 WEBERNICK 2 “ Tris J 12600 Mesquite B Prospect Shefcik 1 Pe. L Cypress 75% Jamex 25% | Mesquite A Prospect “| Webernick 1 \ Jamex Wo | N i it) km 4 S| a j , * Strike Oil has 26.25% interest in “Cypress” areas
Slide 16: Mesquite B and A wells: potential early cash flows
@strikeoil_ MESQUITE B MESQUITE A Shefcik 1 Webernick 1 | Spud Date: 2/11/05 5/12/05 Proposed T.D.: 12,500’ (3,810m) 12,500’ (3,810m) Current Status: 10,487’ (3,197m) Preparing (drilling) location Gas Potential: 10-15 Bcf 15-20 Bcf POTENTIAL EARLY CASH FLOWS
Slide 17: Cooper/Eromanga Basin
LG AO, LC _Cooper/Eromanga Basit y Oy ih 2 Gam cece coca)
Slide 18: Carnarvon Basin seismic surveys
Gstrike Oil Carnarvon Basin Cu Surveys Commenced: 21 November 2005 | Scheduling: Outside whale migration period i: Seismic Vessel: Pacific Sword | Permits: EP325, EP342, TP/6, EP424, EP421, TP/19 WA-340-P a Objective: Define 2006 drilling targets
Slide 19: Carnarvon Basin acreage
@strikeoil_ Carnarvon Basin Ac Rivoli Gas Field ff Western Austrafia | ® Seismic in progress ® High grading prospects ® Scope to farm down ® Drilling 2006 (3-4 wells)
Slide 20: Carnarvon Basin prospect list
)Baniyas | (Hastings) 41] Western Australia A Prospect | Recoverable | Strike | __List _| Oil Potentials | Interest (Part) | Million | | Barrels. Baniyas 60 40% Whalebone 40 44.45% North Santo 3-100 100% —Grond Sharp Peak 80 90% Hestia 20 16.2%
Slide 21: Remaining key prospects
Hestia 20 MMbbis et ei Sharp Peak 80 MMbblis GstrikeOil Remaining Key P rospec’ > 0) ‘Gas Pipeline Gas Fields Prospects and Loads RRS strike OF Permits
Slide 22: Barrow Sub-Basin prospects
GF strike Oil Barrow Sub-Bas " Whalebone _ 40 MMbbls_ __Baniyas _ 60 MMbbis Series of Prospects. emerging from reworkin _bad seismic data area 5-30MMbbis.
Slide 23: Farmout to Advent Energy Limited
| | Australia Caeper % Basin . FARMOUT TO ADVENT ENERGY LIMITED PELA 71 @$1.1 million to earn 25% ® Strike Oil reducing to 50% PELA 96 @$1.1 million to earn 25% @ Strike Oil reducing to 41 7/,% Conditional on Public Listing Native Title Agreements to finalise
Slide 24: ATP 633P Prospect
G Strike Oil ATP 633P - Prospect cy A | Tickalara Oilfield | Reported 11MMbbls | Recoverabl ® Option to earn 15% interest ® Seismic 1* half 2006 ® 2-5 wells (2006/2007) ‘plowed oo0norD | Gidgee 1 Flowed 1000 BO! : 3D Seismic Survey Planned | (end 2005) to Delineate Field . ® Native Title Agreement c
Slide 25: Other Australia: Kingston Energy
GF strike Oil Other Australia Legend | [———~ Major Road | .) @ Gas Pipeline 2s Fields eteoloum Lease Mining Lease, ~ Power Line (132008 a = Power tine 275000 V) | Substation (< 139000 Substation (< 220000 Vj] KINGSTON ENERGY ito IK @ 100% owned subsidiary @ Coal, petroleum and gasification rights to
Slide 26: Comet Ridge
GF strike Oil @ Pension 686 Fiets 6 Permian Coal Basins Comet Ridge ® 10% direct shareholding @ First revenue expected 2006 @ Recent $12.5 million sale of Tipton West @® Mahalo drilling imminent @ USA expansion (2 current projects)
Slide 27: Expanding inventory of prospects: USA Rocky Mountains
_ > Expanding inventory prosper - USA © “Rocky Mountains
Slide 28: Strike Oil capital structure
GF strike Oil ASX CODE TOTAL FULLY PAID SHARES UNLISTED OPTIONS SHAREHOLDERS 31/10/05 MARKET CAP (@ 12 CENTS) CASH (31/10/05) Strike Oil L STX 163,566,025 22,387,157 1,924 $20 million ~ 6.5 million
Slide 29: Strike Oil Disclaimer
GF Strike Oil Disclaimer Strike Oil Limited has taken all reasonable care in producing the text and images contained in this presentation but does not warrant that the information contained herein is accurate or up to date. The information on these slides is based on publicly available information,