Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Investor Presentation (August 2013)
28 slides from Karoon Energy's investor presentation, August 2013
Slide 1: Capital Raising Presentation
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only August 2013 THE GEO CASPIAN 3D SEISMIC ACQUISITION VESSEL IS NOT THE PROPERTY OF KAROON Capital Raising Presentation
Slide 2: Disclaimer
Disclaimer NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only This presentation (Presentation) has been prepared by Karoon Gas Australia Limited (ACN 107 001 338) (Karoon). This Presentation contains summary information about the current activities of Karoon and its subsidiar
Slide 3: Executive Summary
Executive Summary NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Karoon Gas Australia Ltd. (“Karoon”) is raising approximately A$150 million through a fully underwritten placement to eligible institutional, sophisticated and professional investors at A$5.10 per share (“
Slide 4: Overview of the Offer
Overview of the Offer NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Placement Structure and • Fully underwritten placement to eligible institutional, professional and sophisticated investors Size • Placement to raise approximately A$150 million • Non-underwritten share p
Slide 5: Purpose of the Offer
Purpose of the Offer NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only The proposed offer will strengthen Karoon's balance sheet to: Provide Karoon with the financial flexibility to achieve the best possible outcome on current farmout negotiations; Support Karoon’s posit
Slide 6: Karoon Gas - Snapshot
Karoon Gas - Snapshot NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Brazil Australia Farmed-out 35% equity to Pacific Rubiales Energy Corp (PRE) (subject to Browse Basin Drilling: 6-7 wells on the Poseidon field as part of the phase regulatory approval) two exploration d
Slide 7: Activity Summary
Activity Summary NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only 2H 2013 1H 2014 2H 2014 2015 Planned drilling activity1 • Proteus drilling results • Grace well result • Kangaroo-2 well result • Commence onshore drilling at Maranon Basin (2014 / • Result of core analysis f
Slide 8: Summary Investment Highlights
Summary Investment Highlights NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Material exposure to discoveries in Brazil’s prolific Santos Basin, estimated contingent resource of 1C-11, 2C-135 & 3C-487 million barrels of oil at the Kangaroo discovery, Bilby-1 contingent
Slide 9: Brazil assets – Regional Activity
Brazil assets – Regional Activity NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Location: Santos Basin, Brazil. 300-450 metre water depth. On trend with Piracuca, Newton, Muluza, Maruja, Tiro and Sidon fields. Prospective resource: Post drilling, 6 prospects and leads fi
Slide 10: Australian assets – Browse Basin
Australian assets – Browse Basin NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Location: Browse Basin, Australia. 450-600m water depth. On trend with Torosa, Brecknock and Calliance gas condensate fields. Other proximal fields: Icthys, Argus, Prelude and Burnside. Karoon
Slide 11: Australian assets – North Carnarvon Basin
Australian assets – North Carnarvon Basin NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only WA-482-P Location: North Carnarvon Basin, Australia. 400-2000m water depth. On trend with North Carnarvon Basin Mungaroo plays and Phoenix gas discovery. Prospective resource: 6 prosp
Slide 12: Tumbes Basin - Block Z-38
Tumbes Basin - Block Z-38 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Location: Tumbes Basin water depths 300- 1000metres. Close to fields that have produced over 1.6 billion barrels of oil. Prospective resource range: 16 prospects and leads identified with current Net
Slide 13: Maranon Basin – Block
Maranon Basin – Block 144 NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Location: Prospects and Leads Maranon Basin, Peru. On trend with Situche Central oil field. Close to under-capacity oil export pipeline and major navigable rivers. Prospective resource range: 15 pros
Slide 14: DeGolyer & MacNaughton Assessment
DeGolyer & MacNaughton Assessment NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Summary of DeGolyer and MacNaughton assessments of Karoon's Risked Number of Low Best High Mean Prospective and Contingent Resource Base as of 30th September 2009 Mean Prospects Estimate Esti
Slide 15: Well Results to Date
Well Results to Date NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Well Results to Date (as referenced in the presentation) • Full wireline suite including cores and physical pressure sampling. Zone tested in Jurassic aged rocks from 4904 to 4980 mRT and flowed gas to th
Slide 16: Past. Present. Future.
Past. Present. Future. NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only What we have done: What we are doing: Australia Drilling 2005 - Acquired WA-314-P and WA-315-P (100%) Australia: 6-7 well program in the Browse Basin currently underway. 2006 - Farm-out to ConocoP
Slide 17: Browse Gas Project Potential Production Rates
Browse Gas Project Potential Production Rates NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only Boreas-1 well test instantaneous rate prediction 300 SMALL1 SMALL 7inch tbg 250 4.5 inch test string 3.5 inch test string Instantaneous Gas Rate (MMcf/d) 200 Modelled Potential Pr
Slide 18: Key Risks
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only THE GEO CASPIAN 3D SEISMIC ACQUISITION VESSEL IS NOT THE PROPERTY OF KAROON Key Risks
Slide 19: Key risks – Introduction
Key risks NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Introduction For personal use only There are significant risks in making an equity investment into both the oil and gas industry and Karoon. The following pages highlight the risks investors may incur but is not intended to be an exhau
Slide 20: Key risks
Key risks NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Climatic impacts For personal use only Any adverse or extreme climatic conditions could affect Karoon's operations through delaying exploration activities and causing additional expenditure. Staff and labour performance risk The succ
Slide 21: Key risks
Key risks NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Ability to exploit successful discoveries For personal use only It may not always be possible for Karoon to participate in the exploitation of successful discoveries made in any areas in which Karoon has an interest. Such exploitation
Slide 22: Key risks
Key risks NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Government actions For personal use only Karoon will require government regulatory approvals for its operations. The impact of actions, including delays and inactions, by governments may affect Karoon’s activities including such matter
Slide 23: Key risks
Key risks NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Production licence For personal use only In order for production to commence in relation to any successful oil or gas well it is necessary for a production licence to be granted. Subject to remedying any default or non-compliance then
Slide 24: Offer Jurisdictions
NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES For personal use only THE GEO CASPIAN 3D SEISMIC ACQUISITION VESSEL IS NOT THE PROPERTY OF KAROON Offer Jurisdictions
Slide 25: Foreign Offer Jurisdictions
Foreign Offer Jurisdictions NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES This document does not constitute an offer of new ordinary shares ("New Shares") of the Company in any jurisdiction in which it would be unlawful. New Shares may not be offered or sold in any country outside Australia F
Slide 26: Foreign Offer Jurisdictions
Foreign Offer Jurisdictions NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Canada (continued) For personal use only Section 138 of the Securities Act (Ontario) provides that no action shall be commenced to enforce these rights more than: (a) in the case of any action for rescission, 180 days a
Slide 27: Foreign Offer Jurisdictions
Foreign Offer Jurisdictions NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Hong Kong For personal use only WARNING: This document has not been, and will not be, registered as a prospectus under the Companies Ordinance (Cap. 32) of Hong Kong (the "Companies Ordinance"), nor has it been authoris
Slide 28: Foreign Offer Jurisdictions
Foreign Offer Jurisdictions NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES Switzerland For personal use only The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange ("SIX") or on any other stock exchange or regulated trading facility in Switze
Karoon Gas Australia — Investor Presentation (August 2013) on 6ix