Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Shareholder Meeting (November 2009)
25 slides from Karoon Energy's shareholder meeting presentation, Nov 12, 2009
Slide 1: Karoon review – Annual General Meeting
For personal use only Karoon review ANNUAL GENERAL MEETING November 12th 2009
Slide 2: Karoon Gas snapshot
2 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Karoon Gas snapshot For personal use only n Approximately 177 million shares and 8.4 million options n Market capitalisation approximately A$1.33 billion @A$7.50 n Cash in bank A$221 million n Company in S&P/ASX 200 Index n Bro
Slide 3: Karoon Gas Australia's key personnel
3 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Karoon Gas Australia’s key personnel For personal use only Board Technical Robert Hosking Executive Chairman Lino Barro Engineering Manager Founding Director of Karoon Gas with 30 years of 28 years’ experience in reservoir and
Slide 4: Australian Assets
4 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Australian Assets For personal use only TIMOR Karoon Permit AC/P8 BAYU-UNDAN DARWIN Karoon Permit WA-314-P AUSTRALIA Karoon Permit WA-315-P ConocoPhillips LNG Plant Poseidon-1 gas discovery Poseidon-2 ICHTHYS NORTHERN T E R R I
Slide 5: Browse Basin
5 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Browse Basin For personal use only BHP Billiton GRACE P50 5.7tcf Argus Gas/condensate WA-314-P & WA-315-P field 2tcf ? (Karoon estimate) Abalone 1 Karoon 49% ConocoPhillips 51% Phrixus 1 ARGUS Lead-E WA-314-P P50 5 tcf Buffon-1
Slide 6: Browse Basin - Poseidon-1 Gas Discovery
6 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Browse Basin - Poseidon-1 Gas Discovery For personal use only Poseidon-1 well location and seismic section n The well has penetrated a 317m gross gas bearing Plover Formation. over the interval 4795 to 5112 mRT with three gross
Slide 7: Browse Basin – Indicative Time line
7 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Browse Basin – Indicative Time line For personal use only Karoon activity 2008 2009 2010 2011 2012 Indicative time line (@Oct 09) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 BROWSE BASIN (Aust) Drilling (firm) P
Slide 8: Browse Basin acreage position
8 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Browse Basin acreage position For personal use only WA‑314‑P and WA‑315‑P Karoon Gas Australia Ltd has entered into agreements to farm out up to a 60% interest in its Browse Basin permits to ConocoPhillips. Acquisition of 51% I
Slide 9: Indicative project concept
9 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Indicative project concept For personal use only Karoon lng/condensate indicative development model economics (assuming a discovery of 7 tcf and based on independent third party design concepts). Field development, pipeline and
Slide 10: Combined net cash flow
10 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Combined net cash flow For personal use only Karoon lng/condensate indicative development model economics. Net cash flow for combined offshore liquids removal and onshore LNG – 100% Share. 4000 Resource tax begins 3000 2000 Fi
Slide 11: Capex profile
11 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Capex profile For personal use only Karoon indicative development model economics. – 2009 US dollars 4500 4000 CAPEX (US$million – 2009) Karoon share 3500 Total project Capex US$10.4 billion 3000 assumes 3rd party provides LNG
Slide 12: Product revenues
12 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Product revenues For personal use only Karoon indicative development model economics. Product revenues for combined offshore liquids removal and onshore LNG – 100% Share. 7000 6000 Product Revenues (US$million) 5000 4000 3000
Slide 13: Economic sensitivity analysis
13 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Economic sensitivity analysis For personal use only Karoon indicative development model economics. 12000 30 10000 25 NPV-10% (US$million) 8000 20 IRR (%) 6000 15 4000 10 2000 5 0 0 Base case Product prices Product prices Capex
Slide 14: AC/P8
14 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 AC/P8 For personal use only Location: Close to the Laminaria/Corallina Claudia NW production facility with production tie in potential. JPDA 06-105 Potential: Main prospect ‘Jania’ with up to 20mmbl potential prospective resou
Slide 15: Brasil Santos Basin
15 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Brasil Santos Basin For personal use only Location: Santos Basin shallow water SAO PAULO 300-400m, on trend with Caravela, OGX listed in 2008 in Repsol new gas Piracuca, Newton and Merluza fields. Brazil with a market cap cond
Slide 16: Brasil Santos Basin - Recent activity
16 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Brasil Santos Basin - Recent activity For personal use only Repsol new gas condensate discovery Panoramix(2009). Late Cretaceous aged Note: OGX, a Brazil listed company with a market cap of reservoirs tested gas with high cond
Slide 17: Karoon Santos Blocks
17 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Karoon Santos Blocks For personal use only Santonian Play Summary Eocene Play Level n The salt related structural style in the Santos Basin creates large scale structures in Karoon’s acreage where high quality Santonian reserv
Slide 18: Brasil Santos Basin - Indicative Timeline
18 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Brasil Santos Basin - Indicative Timeline For personal use only Karoon activity 2008 2009 2010 2011 2012 Indicative time line (@Oct 09) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 SANTOS BASIN (Brasil) Interpre
Slide 19: Peru Tumbes Basin Block Z38
19 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Peru Tumbes Basin Block Z38 For personal use only Location: Offshore Peru close to BPZ 10,200 bopd test in producing fields and discoveries. new pool discovery in Corvina Field Mach Potential: 2 main leads each with 50 to Armi
Slide 20: Peru Tumbes Basin Z38
20 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Peru Tumbes Basin Z38 For personal use only Seismic line example. n Clear gas DHI’s with amplitude ratio updip to down dip around 5 to 10 times.
Slide 21: Peru Maranon Basin Block
21 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Peru Maranon Basin Block 144 For personal use only Location: Onshore Peru close to existing infrastructure and producing Buena Vista fields. Carmen Nor Este Bartra Jibarito Potential: Leads with 50 to 250mmbls Situche SitucheC
Slide 22: Activity Summary
22 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Activity Summary For personal use only Karoon activity 2008 2009 2010 2011 2012 Indicative time line (@Oct 09) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 BROWSE BASIN (Aust) Drilling (firm) Poseidon-1 (gas dis
Slide 23: DeGolyer & MacNaughton Assessment
23 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 DeGolyer & MacNaughton Assessment For personal use only Karoon (August 2008) engaged the services of international The PRMS reporting system provides uniform guidelines consulting company DeGolyer and McNaughton to provide for
Slide 24: Disclaimer
24 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Disclaimer For personal use only This presentation has been prepared by Karoon Gas Before making an investment decision, you should consider, Australia Limited for professional and sophisticated with or without the assistance
Slide 25: Index of terms
25 Karoon Gas Australia Limited ANNUAL GENERAL MEETING November 12th 2009 Index of terms For personal use only TCF: trillion standard cubic feet (1,000,000,000,000 cubic feet) Mmbls: Millions of barrels (1,000,000 barrels) Bbls: Barrels BOE: A means of expressing gas volumes in barrels of oil equiva
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