Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Shareholder Meeting (November 2008)
28 slides from Amplitude Energy's shareholder meeting presentation, Nov 26, 2008
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 26 November 2008 © Cooper Energy Limited
Slide 2: Sequence of Events
Sequence of Events Formal AGM business and company presentation For personal use only • Introduction • Open Meeting • Chairman’s Ch i ’ Add Address • Receive and Consider Financial Statements • Questions on Financial Statements • Resolution #1 ((Re-election of Mr Shervington) g ) and questions q on
Slide 3: Meeting Open
For personal use only 3 Meeting Open
Slide 4: AGM Resolutions
AGM Resolutions Re-election of a Director and Remuneration Report For personal use only Re-election of Mr Laurence J Shervington as a Director of the Company T consider To id and d if th thought ht fit tto pass th the following f ll i as an ordinary di resolution: l ti “That upon his retirement by r
Slide 5: Financial and credit storms are ravaging the markets
Financial and credit storms are ravaging the markets Cooper Energy is financially strong - batten the hatches, ride it out, take advantage and then emerge stronger. For personal use only Post Ann Annual al General Meeting Company Overview © Cooper Energy Limited
Slide 6: Post Agenda
Post AGM Presentation Agenda Company in strong position For personal use only Company snapshot Focus areas and FY08 results Strong company portfolio p Brief overview of next operational activities and underlying y g assets Capital and market Shares on issue issue, cash distribution policy policy, sh
Slide 7: Company Snapshot
For personal use only 7 Company Snapshot
Slide 8: Global Activities Snapshot
Global Activities Snapshot Active along the whole hydrocarbon value chain in proven hydrocarbon provinces For personal use only Production Australia Callawonga oil field (25%) Worrior oil field (30%) Christies oil field (25%) Sellicks oil field (25%) ( ) Silver Sands oil field (25%) Cleansweep oil f
Slide 9: Company Performance
Company Performance FY08 delivered outstanding operational and financial results For personal use only Units FY04 FY05 FY06 FY07 FY08 FY07 to FY08 change OPERATIONAL Wells drilled number 6 6 12 6 11 83% S Exploration success rate percent 17% 33% 0% 17% 40% 140% S Cumulative success rate percent 33%
Slide 10: Strong Company Portfolio
For personal use only Strong Company Portfolio 10
Slide 11: PEL92 Near-Term Production Growth Options (COE 25%)
PEL92 Near-Term Production Growth Options (COE 25%) Good structures just outboard from oil fields For personal use only 2008 3D seismic survey area Many targets • Dec 08: two Callawonga nearby to existing development wells di discoveries i – drilling 1H08 • Jan 09: two south Parsons exploration well
Slide 12: Tunisia - Bargou and Hammamet
Tunisia - Bargou and Hammamet Highly prospective blocks with material exploration targets For personal use only Barrgou (COE 100%) • Offshore farm out • Mature onshore target for drilling E 35%) mmamet (COE • Drill Fuschia-1 (23 MMBO) • Mature other prospects for drilling Ham
Slide 13: Indonesia – South Madura and Seruway
Indonesia – South Madura and Seruway South Madura being matured by seismic and studies and exited from Seruway For personal use only E 30.0%) 2008 2D seismic area Madura (COE • Interpret seismic create portfolio identify next drilling target South M 9.032%) way (COE 29 • Exited in November 2008 • Ri
Slide 14: Incremental Petroleum Takeover Offer
Incremental Petroleum Takeover Offer An investment with an unbelievably high independent valuation For personal use only Incremental Petroleum Shareholder Distribution • We put an attractive takeover offer to the 60% Incremental shareholders to support our 47.09% 50% vision i i off creating ti AAust
Slide 15: Company Portfolio Value
Company Portfolio Value Disconnect between share price and underlying assets For personal use only Indonesia (Explr.) Tunisia (Explr.) Cooper Basin Up to 70c (Dev. and Explr.) value for free Up to 90 c/share Prod. Revenue Share Investments (~A$25MM) Current 31 c/share Share Cash (~A$65MM) 22 c/share
Slide 16: Forward Activity and News Schedule
Forward Activity and News Schedule Value adding activities will continue to be presented from the portfolio For personal use only Dec08 Jan09 Feb09 Mar09 Apr09 May09 Jun09 Development Parsonsflowlineonline S D ill C ll DrillCallawonga66 S DrillCallawonga5 S Exploration PEL92:DrillPerlubie1 S PEL92:
Slide 17: Capital and Market
For personal use only 17 Capital and Market
Slide 18: Capital Structure
Capital Structure Reasonable number of shares on issue that provide excellent liquidity For personal use only Cooper Energy Issued Shares (COE) • 292 million shares on issue 350 300 • ~19 19 million illi unlisted li t d options ti – majority j it att ecurities (Million) 250 very high price hurdles (
Slide 19: Share Price Performance
Share Price Performance Share price levels are following the market but the underlying portfolio is solid For personal use only 7,000 ASX All Ordinaries • International dry holes 1H08 disappointed 6,500 shareholders (but our annual exploration ex success was up forf the th year). ) ASX All Ordinarie
Slide 20: Dividend/Buyback/Capital Redistribution Policy
Dividend/Buyback/Capital Redistribution Policy Cash is king, capital raising and debt are dead, long live the king… For personal use only • This topic has been the subject of vigorous Board debate • No N plans l tto release l cash h llevels l bback k tto shareholders h h ld att this thi titime • In
Slide 21: Oil Price and Forex History
Oil Price and Forex History Softening in demand causing drop in oil price coupled with strengthening of US$ For personal use only 160 1 WTI USD Oil Price Forex 150 WTI AUD 140 0.95 130 ars per barrel (S/bbl) xchange Rate ($A) 120 0.9 110 100 0.85 90 AUDUSD Ex Dolla 80 0.8 70 60 0.75 50 40 0.7 Jul-07
Slide 22: Summary
For personal use only 22 Summary
Slide 23: Bullish Forward Outlook
Bullish Forward Outlook Company in strongest ever position For personal use only • Cash, reserves and production at high levels and are coupled with a healthy portfolio • FY09 and CY09 outlook o tlook very er good good: ¾ Pursuing near-term production enhancements through domestic drilling and devel
Slide 24: Questions on Management and Performance of Company
For personal use only Questions on Management and Performance of Company 24
Slide 25: Poll Results Announced
For personal use only Poll Results Announced 25
Slide 26: Meeting Closed
For personal use only 26 Meeting Closed
Slide 27: www.cooperenergy.com.au
For personal use only www.cooperenergy.com.au “Infinite potential, solid results”
Slide 28: Forward Looking Statements and Disclaimer
Forward Looking Statements and Disclaimer FORWARD LOOKING STATEMENTS This document (“Document”) may include statements about expected future events and/or financial results that are forward-looking in nature that are subject to a large number of variables and risks For personal use only associated w