State Gas Ltd. · ASX:GAS
State Gas — Queensland Exploration Council – Investment Showcase (November 2017)
14 slides from State Gas's conference presentation, Nov 10, 2017
Slide 1: Company Presentation
For personal use only Company Presentation Heading Subheading Queensland Exploration Council – Investment Showcase: 5:30PM, 9 November 2017 ASX : GAS
Slide 2: General Disclaimer
General Disclaimer For personal use only This document has been prepared by State Gas Limited (“the Company” or “State Gas”) to provide prospective investors in State Gas Limited with an update on the Company and its operations. This document is based on information and material collated, prepared b
Slide 3: GAS: Highlights
GAS: Highlights For personal use only Granted Petroleum Lease (PL 231), with Pipeline Survey Licence ADVANCED PROJECT Application (PSL 2028) SHALLOW CONVENTIONAL GAS conventional gas in Central Queensland, first discovered in the 1950s PROJECT GAS FLOWS 15 historical wells drilled since 1950s SHALLO
Slide 4: Discovered in 1955
Discovered in 1955 For personal use only Gas discovered in 1955 at a depth of 137 meters (Cattle Creek Formation) when drilling for oil, flowing gas at 0.55 mmcf/d – AOE-1 well 4
Slide 5: Last Drilled in 2006
Last Drilled in 2006 For personal use only View video of gas flowing at Primero-1 in June 2017 and other infrastructure at PL 231: https://www.youtube.com/watch? v=GiozYJ9BtoU#action=share Primero-1 Well, drilled in 2006, with a flow rate of 2.8 mmcfd (Cattle Creek Formation) reported from this well
Slide 6: Historical Flow Rates
Historical Flow Rates: 0.5 mmcf/d - 2+ mmcf/d* For personal use only 2.8 mmcf/d (from 135m) 1.2 mmcf/d (TD 162m) 0.97 mmcf/d (TD 149m) ~1 mmcf/d mmcf/d (TD 139m) 0.5 mmcf/d (TD 154m) *Gas flows shown are only from Cattle Creek Formation, commencing 135m from surface - Gas from underlying Reid’s Dome
Slide 7: Eastern Gas Market Update
Eastern Gas Market Update For personal use only East coast gas market dynamics are going through a fundamental shift • The market is resigning itself to the fact that recent actions to restrict LNG exports and divert gas into the domestic market will not have a significant impact on bringing down ea
Slide 8: Project Overview
148°10'E 148°20'E 148°30'E Cattle Creek k ! ee Mackay Cr 24°30'S 24°30'S r eo t Me ek C re na !Rockhampton !Emerald Co Project Overview !Gladstone k e e r e ek Cr For personal use only lo ag C ue ns Maryborough ei t Co ! Fr !Roma Brisbane ! !St George 24°40'S 24°40'S Central Highlands Regional Counc
Slide 9: Infrastructure
Infrastructure For personal use only • Queensland Gas Pipeline network connections options to the north-east and south-east • Pipeline Survey Licence Application (PSL 2028) lodged in August 2017 • Gas processing at Rolleston and Arcadia Pipeline Survey Licence area 9
Slide 10: Primary and Secondary Targets
Primary and Secondary For personal use only Targets • Primary focus (current): Cattle Creek Formation • Shallow overpressured gas target from 135m in the sandstone Cattle Creek Formation • Overpressured sediments generally exhibit favourable porosity, often make attractive hydrocarbon reservoirs and
Slide 11: Work Program
Work Program For personal use only • Preliminary work (2017 – early 2018) • Flow testing historical wells, reprocessing existing seismic data • Discussions with potential customers and majors needing additional gas • Investigating options to optimise initial drilling, gross payzone yield, and pipeli
Slide 12: Board and Management
Board and Management For personal use only Tony Bellas Chairman • Chairman of ERM Power, NOVONIX Limited, Corporate Travel Management, Shine, former CEO of Ergon Energy and CS Energy) Ian Paton Non-executive Technical Director • Petroleum geophysicist and engineer, instrumental in many oil and gas d
Slide 13: GAS: Capital Structure
GAS: Capital Structure For personal use only Shareholder Escrow Restriction^ On Admission (m shares) Triangle Energy Escrow to October 2019 47.8 35.5% Directors# Escrow to October 2019 31.1 23.1% Other seed investors Escrow to June 2018 29.7 22.0% IPO investors Nil 26.2 19.4% TOTAL 100% 134.8 100% #
Slide 14: Conclusion
Conclusion For personal use only The east coast gas crisis represents a long-term problem: “We see gas prices in the $8-10/GJ (ex-field) range for the foreseeable future.” UBS, 19 October 2017, “The next wave of east coast gas supply” Greg Baynton Tony Bellas Executive Director Chairman State Gas Li
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