Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Investor Presentation (January 2014)
21 slides from Amplitude Energy's investor presentation, Jan 29, 2014
Slide 1: Investor pack January 2014
S OOPER NERGY i Shbd me Investor pack 29 January 2014
Slide 2: Important Notice – Disclaimer
Important Notice – Disclaimer For personal use only The information in this presentation: Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy Limited or to retain or sell any shares that are currently held. Does not take into account the individual investment objec
Slide 3: COE share price and key figures
For personal use only COE share price Key figures $ rolling 12 month Share price range, 12 months $0.35 - $0.60 Shares on issue 329.2 mill Market capitalisation1 $163 mill Cash & investments 2 $65.5 mill Debt Nil Production MMbbl /year 0.50 Share register Top 20 holders~63% Funds/Corp ~64% 1 as at 2
Slide 4: Record revenue and production
For personal use only • Record production and sales revenue for six months to December Half year sales revenue $ million six months to 31 December • Sales revenue up 54% on pcp to $37.0 million 37.0 • Production up 41% to 299 kbbl and on track for guided increase of 10% or 25.8 more 24.1 24.1 17.9 –
Slide 5: For personal use only
For personal use only ASX 300 Exploration & Market cap of $163 million (1) Production company Strong register with ~ 63% institutional and corporate shareholders High margin production Cooper Basin western flank oil production assets Indonesia oil production Upside in oil resources and Coo
Slide 6: Leveraging strengths for TSR
For personal use only Total Shareholder Return and Health Safety Environment Community Strategy • High margin oil • Fundamentals focus: market, technical, cost & commercial • Build gas supply & demand portfolio • Leverage and grow strengths People Funding Assets • Deep knowledge • Strong balance she
Slide 7: Reserves and Contingent Resources
For personal use only Reserves Movement in proved & probable reserves FY13 MMbbl as at 30 June 2013 MMbbl 1P 2P 3P Cooper Basin 0.95 1.80 2.89 2.16 Indonesia 0.06 0.35 0.64 0.77 1.88 0.49 Total 1.02 2.16 3.53 Contingent Resources1 MMboe as at 30 June 2013 1C 2C 3C Cooper Basin 0.00 0.00 0.03 Tunisia
Slide 8: Reserves and risked resources
For personal use only Reserves and risked resources1 Prospective resources by risk1 MMboe 110 MMboe total 110 29 2P Reserves Low Risk 2C Resources 58 Medium Risk Prospective Resources 22 High Risk 5.7 2.2 • Hammamet West-3 ST-1 impact currently being assessed • FY14 program addressing Cooper Basin,
Slide 9: For personal use only
For personal use only Cooper Basin Market driven Production growth Hammamet West-3 resource Production: 0.5 MMbbl/pa Cooper Basin Low risk value-add Very prospective acreage (12,600 km2) High margin oil production Otway Basin Material exploration opportunities Attractive fiscal terms Sustained explo
Slide 10: Core Cooper Basin business
1. Core Cooper Basin business For personal use only PEL 92 Cumulative exploration well success rate COE Cooper Basin production MMbbl 100% 0.48 0.50 0.46 80% 0.41 0.38 0.40 60% 40% 20% 2008 2009 2010 2011 2012 2013 2014f 0% 2003 2007 2009 2011 2012 2013 • Historical production of 0.4 – 0.5 MMbbl, in
Slide 11: Valuable production + high success rates
For personal use only • Oil production and exploration - current approximately 1,500 bopd (net) • Discovered 5.9 mill bbls (net) to date (1) • Produced 4.1 mill bbls (net) to date (1) • Production expected to increase in FY14 • Extensive seismic acquisition in 2013 • Exploration and development cont
Slide 12: Focus on fundamentals
For personal use only Focus on fundamentals • cost curve & location determines development sequence • technical & commercial robustness Cooper Basin • gas potential Otway Basin • conventional and unconventional • close to infrastructure & markets Gippsland Basin • gas opportunities • close to infras
Slide 13: Otway Basin: strong fundamentals
For personal use only • Strong regional position across Penola Trough • Proven basin for conventional plays • Close to markets & infrastructure • Jurassic source rocks are gas prone with liquids potential • 2 deep wells being drilled from Jan 14 to assess unconventional plays in the Casterton format
Slide 14: Conventional gas opportunities close to market
For personal use only • 19.9% interest in Bass Strait Oil Company (BAS) • BAS assets include 5 offshore Gippsland Basin permits - gas exploration potential along northern margin including sizeable prospects • Range of development and market opportunities • Opportunities under review Conventional gas
Slide 15: Indonesia permits
For personal use only Sukananti KSO (COE 55%) • currently ~300 bopd (100% basis) • multiple low risk opportunities with existing available infrastructure • short pay-back periods • contractor share: oil 15%; gas 20% after tax Sumbagsel PSC (COE 100%) • shallow oil targets (1-5 MMbbls) • seismic 2013
Slide 16: Tunisia: strategic exit
For personal use only Many attractive features • 3 contiguous permits, 12,600 km2 – equivalent in size to the SA Cooper Basin • Hammamet West oil discovery, a near term development opportunity • multiple prospects and emerging fractured carbonate play potential proved by Hammamet West-3 ST-1 • nearb
Slide 17: Hammamet West-3 ST-1 results
For personal use only Hammamet West-3 ST- 1 • 432 metres deviated well bore • Initial results highly encouraging, however prevented from completing production test – strong oil and gas shows, presence of open hydrocarbon- bearing fractures confirmed – flowed to surface at average rate of 1,290 bpd o
Slide 18: The 2014 strategy
The 2014 For personal use only Australia oil: maintain and grow strong core business • ongoing Cooper Basin western flank production • low cost/high margin • exploration and development to support growth & value add Australia gas: build near term supply for existing and long term gas market opportun
Slide 19: For personal use only
For personal use only
Slide 20: Exploration and development activities, Q3 – Q4 FY14
Exploration and development activities, Q3 – Q4 FY14 For personal use only Location License Operator March Qtr June Qtr PEL 92 Beach Energy 3 exploration wells Cooper Basin PEL 90, 100,110 Senex 3D Processing Dundinna 3D processing Worrior-8 completion PPL 207 Senex Worrior-10 (Patchawarra appraisal
Slide 21: FY14 guidance
FY14 guidance For personal use only • FY14 production forecast to increase to 0.54 – 0.58 MMbbl • Increased output from both Cooper Basin and Indonesia 0.52 0.49 0.41 FY14 Guidance: range FY14 Guidance: base 0.30 Actual FY11 FY12 FY13 FY14f H1 14