Australis Oil & Gas Ltd. · ASX:ATS
Australis Oil & Gas — Euroz Hartleys Rottnest Conference 2021
23 slides from Australis Oil & Gas's conference presentation, Mar 11, 2021
Slide 1: ASX Announcement: Corporate Presentation Material
ASX Announcement For Immediate Release For personal use only 11 March 2021 Corporate Presentation Material Please find attached a copy of the presentation to be used by Australis Oil & Gas Limited for investor presentations today. This ASX announcement was authorised for release by the Australis Dis
Slide 2: Investor Presentation - Euroz Hartleys Rottnest Conference
For personal use only ASX: ATS Investor Presentation Euroz Hartleys Rottnest Conference March 2021
Slide 3: Important Notice and Disclaimers
Important Notice and Disclaimers This presentation has been prepared by Australis Oil & Gas Limited ABN 34 609 262 937 (ASX: ATS) (Australis). Australis means Australis Oil & Gas Limited and, where appropriate, all subsidiaries as at the date of this presentation. For personal use only Summary of in
Slide 4: TMS Core – Opportunity Summary
TMS Core – Opportunity Summary ✓ Proven core with Tier 1 oil productivity already delineated (by over 90 wells) ✓ Contiguous and scalable acreage position all within core with long lease life, providing control over future development For personal use only ✓ Base-case well economics already establis
Slide 5: TMS Core – Path to Development
TMS Core – Path to Development ✓ Reduction in execution risk through the application of technology and accumulated knowledge ✓ Aggregation of all available data gained by prior participants from over $1B in capex in TMS and through For personal use only recent wells drilled by ATS, including: • Over
Slide 6: Why TMS remains an undeveloped Tier 1 oil shale play
Why TMS remains an undeveloped Tier 1 oil shale play Current status of TMS core a result of the sequence of local activity and reservoir quality + global oil markets For personal use only ▪ TMS is on trend with the Eagle Ford Basin in Texas and in 2010 it’s exploration was the logical next step for
Slide 7: TMS Core – Substantial acreage position with scale and control
TMS Core – Substantial acreage position with scale and control TMS Project Asset Profile Acreage Expiry Profile Mississippi and Louisiana, USA For personal use only ▪ Large contiguous land position in the TMS Core with >100,000 net acres (none on ~107,500 Net Acres federal lands) (37,700 HBP) 13,300
Slide 8: TMS Core - Significant oil reserve and resource
TMS Core - Significant oil reserve and resource Material mid case recoverable estimate of 170 million bbls independently verified (Ryder Scott LP)1 For personal use only Australis TMS Reserves and Resources – as at 31 December 2020 Australis Net Oil 4 Reserve and Resource category (MMbbls) Reserves1
Slide 9: 2020 Operational Performance and Results
2020 Operational Performance and Results Disciplined capital management and TMS asset performance drove strong 2020 results despite challenging market conditions For personal use only ▪ Strong Field NetbackC of $24/bbl (NRI and excluding ATS 2020 Quarterly Results hedging) provided solid financial b
Slide 10: Evolution and impact of the US Shale Industry
Evolution and impact of the US Shale Industry US unconventional growth has heavily influenced global oil markets since 2007 For personal use only ▪ US oil production grew rapidly during this period to make them the largest producer in the world at over 14 million bbls per day and shale alone as the
Slide 11: Life Cycle of a Shale Play
Life Cycle of a Shale Play Eagle Ford Shale – Delineation, Improvement, Growth then Plateau For personal use only Plateau Eagle Ford Shale Production 3,000 Next 12,000 new wells 2,500 MBOE/Day 2,000 1,500 1,000 500 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Oil (mbbl/d) Conde
Slide 12: Consolidation Occurring in the Permian
Consolidation Occurring in the Permian Permian Basin – Still plenty of Tier 1 inventory but industry consolidation limits entry opportunities for those companies without exposure For personal use only ▪ Six material corporate deals in the Permian during 2H 2020 – over 1.1 million acres acquired for
Slide 13: TMS Core – Tier 1 Basin Productivity
TMS Core – Tier 1 Basin Productivity TMS Type Curve well productivity and decline profile outperforms many of the best counties within the four major oil producing basins: the Permian, Eagle Ford, Williston (Bakken) and DJ - Niobrara For personal use only 24 month cum. Oil Production (‘000 bbls) Ave
Slide 14: Australis strategy and timing
Australis strategy and timing Valuation is always a product of asset quality and scarcity…….empirical data supports TMS Core quality and the US Shale evolution now driving the latter. For personal use only ▪ Prior to COVID-19, the US shale industry was going through a structural shift with diminishi
Slide 15: Summary
Summary Experienced team and strategy will ultimately drive shareholder returns. For personal use only TMS Asset Quality Strategic Advantages of TMS ▪ Comparable productivity to best areas in ▪ Large resource of oil the USA. Long production history from ▪ Proximity to infrastructure 85 wells removes
Slide 16: Additional Information
For personal use only Additional Information NOT FOR DISTRIBUTION OR RELEASE IN THE US 15
Slide 17: Single Well TMS Type Curve
Single Well TMS Type Curve TMS Type Curve is a simple history match to averaged data from 15 ATS operated wells drilled in 2014 For personal use only TMS Type Curve – Assumptions TMS Core Type Curve v TMS Production ▪ Oil EUR – 610 Mbbls 250,000 ▪ Gas EUR – 159 MMscf 200,000 Oil Production (bbl) ▪ N
Slide 18: Large Well Inventory with Attractive Economics
Large Well Inventory with Attractive Economics Each of the ~400 net well locations has a conservative base-case NPV(10) of $5.0 million @ WTI $55/bbl For personal use only Single Well Economics NPV10A $3.4 $11.9 ATS-drilled Stewart well (2018) actual production performance $0.5 $8.5 $3.0 $5.0 IRR 32
Slide 19: Strong Field Netbacks in TMS Core Driven by Multiple Factors
Strong Field Netbacks in TMS Core Driven by Multiple Factors Decline curve based on history match to average of the 15 2014 ATS wells ▪ Tier 1 oil well productivity in the TMS Core − TMS Type Curve based on average of 2014 ATS well For personal use only performance and consistent with Ryder Scott 2P
Slide 20: Case Study – Delaware Basin vs TMS
Case Study – Delaware Basin vs TMS Two recent ‘Tier 1’ transactions highlight the comparative value of the TMS 6,7 WPX acquires Felix Energy for US$2.5 B (cash & stock) – December 2019 For personal use only ▪ 58,500 net acres, 60,000 boe/d production (70% oil), 190 wells drilled, 1,500 gross locatio
Slide 21: Australis Corporate Snapshot at Mar 2021
Australis Corporate Snapshot at 6 Mar 2021 Well positioned after 2020 with experienced and invested Management Team For personal use only Key ATS Financial Statistics for FY 2020 Board & Management – Ex Aurora Founders & Management Average Sales (WI) ~1,380 bbl/day Jon Stewart Non-Executive Chairman
Slide 22: Footnotes
Footnotes For personal use only 1. All estimates and risk factors taken from Ryder Scott, report prepared as at 31 December 2020 and generated for the Australis concessions to SPE standards. See ASX announcement released on 5 February 2020 titled “Reserves and Resources Update Year End 2020”. Austra
Slide 23: Glossary
Glossary Unit Measure Unit Measure B Prefix - Billions bbl Barrel of oil MM or mm Prefix - Millions boe Barrel of oil equivalent (1bbl = 6 mscf) For personal use only M or m Prefix - Thousands scf Standard cubic foot of gas /d Suffix - per day Bcf Billion standard cubic foot of gas Abbreviation Desc
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