Metgasco Ltd · ASX:MEL
Metgasco — Investor Presentation (June 2023)
15 slides from Metgasco's investor presentation, Jun 6, 2023
Slide 1: Delivering 'Two' New Gas Sources to the Undersupplied East Coast Energy Market
Delivering ‘Two’ New Gas Sources to the Undersupplied East Coast Energy Market For personal use only Vali gas field Odin gas field GSA with AGL for up to 16 PJ, GSA with ENGIE/Mitsui JV 101 PJ (Gross) 2P reserves, 39.7 PJ (Gross) Contingent Resources, Metgasco share 25.2 PJ Metgasco share 9.55PJ Inv
Slide 2: Disclaimer / Reserves and Resource Notes/Glossary
Disclaimer / Reserves and Resource Notes/Glossary ▪ This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made as
Slide 3: Highlights – Two Gas Fields entering production in CY23
Highlights –Two Gas Fields entering production in CY23 1 Maiden Gas Production from Vali Gas Field delivered in Feb 2023 For personal use only 2 Vali Facilities enables Odin Fast Track Production in Q3 2023 3 Material Uncontracted Reserves / Resources 4 Highly Supportive East Coast Gas Market 5 Focu
Slide 4: Company Snapshot – East Coast Gas Producer
Company Snapshot – East Coast Gas Producer ➢ Metgasco’s Cooper Basin success building business revenue in 2023 ▪ A highly experienced team focused on creating shareholder value. Substantial shareholders & Board https://www.metgasco.com.au/company/board-management/ Glennon Capital Pty Ltd 10.58% For
Slide 5: Undersupplied East Coast Australian Gas Market
Undersupplied East Coast Australian Gas Market ➢ Growing Domestic Gas Shortfall – In January 2023, the Australian Competition & Consumer Commission (ACCC) released its latest interim update as part of the “Gas Inquiry 2017-2030” and it forecasts in the “base case” a potential domestic gas supply sho
Slide 6: Upward Price Pressure on East Coast Gas Market
Upward Price Pressure on East Coast Gas Market ➢ Global LNG supply side issues, coupled with an already tight domestic supply demand market, has put upward pressure on East Coast prices. For personal use only Domestic gas prices (2023$/GJ) offered for 2023 supply against short- term LNG netback expe
Slide 7: Odin GSA / Significant uncontracted gas reserves at Vali
Odin GSA /Significant uncontracted gas reserves at Vali ➢ ENGIE foundation customer for Odin Gas and AGL for Vali gas ➢ Metgasco has uncontracted gas connected to, or close to, existing infrastructure For personal use only Odin Gas Supply Contract ODIN - 2C GROSS CONTINGENT RESOURCES* Odin GSA with
Slide 8: Project Delivery: Pathway to Production Revenue
Project Delivery: Pathway to Production Revenue ➢ Experienced Management team has delivered 4/4 successful Cooper Basin gas wells. ➢ Commercialisation of Vali represents the culmination of a long process of value creation by Metgasco, from initial application for ATP2021, technical appraisal, farm-
Slide 9: Cooper Basin Position – Hub and Spoke Strategy
Cooper Basin Position – Hub and Spoke Strategy ➢ Cooper Basin: ATP 2021 and PRL 211 – Two gas fields producing by Q3 CY23 ➢ Vali Hub spare capacity enables Vali/Odin uncontracted reserves/resources and new discoveries to rapidly increase production /revenue For personal use only ➢ Low tie-in cost of
Slide 10: Vali Gas Field – >100PJ for East Coast Markets
Vali Gas Field – >100PJ for East Coast Markets ➢ 3 wells completed and connected to Moomba Vali Reserves and Resources system, commenced supply to AGL via Vali-1 on Gross ATP 2021 Vali Gas Field Reserves* 21 Feb CY2023. 1P 2P 3P ➢ Sales Gas (Bscf) 43.3 92.0 191.2 For personal use only Vali-1 produci
Slide 11: ATP2021 - Farm-out to production in less than years
ATP2021 - Farm-out to production in less than 4 years ➢ 2019: Metgasco farmed out 75% of ATP ATP2021 / PRL211 Cross Section – 4/4 successful wells 2021 to Cooper Basin specialists Vintage/Bridgeport. Provided Metgasco free For personal use only carry-on Vali-1. ➢ 2020: Vali-1 gas discovery and flow
Slide 12: PRL211 - GSA and Odin-1 fast tracked for production
PRL211 - GSA and Odin-1 fast tracked for production ➢ Odin-1 conventionally flowed 6.5MMscf/d at Odin-1 connection to Vali infrastructure 1823 psi FWHP from Epsilon and Toolachee reservoirs. For personal use only ➢ Gross 2C Contingent Resources of 39.7PJ* (9.55 PJ* net Metgasco). GSA with ENGIE/Mits
Slide 13: Next Months – Full Pipeline of News Flow
Next 12 Months – Full Pipeline of News Flow ➢ Production and cash flow from Vali, Odin first gas and future appraisal plans. Reviewing multiple Hub exploration and production opportunities. Vali Project GSA signed with AGL for Vali gas sales to end-2026. Moomba CY22 For personal use only Gas / Tie-i
Slide 14: Appendix – Summary Highlights
Appendix – Summary Highlights 1 Maiden Gas Production from Vali Gas Field in 2023 ▪ MEL commenced gas supply to Eastern Australia from the Vali field in February CY23, generating maiden revenue. ▪ ATP 2021 JV contracted to supply an estimated 9 to 16 PJ in period to end-2026, just 9-16% of current V
Slide 15: An East Coast Gas Producer - Contact us for further information
An East Coast Gas Producer - Contact us for further information For personal use only VALI & ODIN PRODUCTION HUB Ken Aitken | Managing Director Level 2, 30 Richardson Street, West Perth WA 6005 Main: +61 8 6245 0060