Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — RIU Good Oil Conference 2018
18 slides from Amplitude Energy's conference presentation, Sep 13, 2018
Slide 1: Presentation to Good Oil Conference
Presentation to Good Oil Conference David Maxwell, Managing Director 13 September 2018 For personal use only Sole-3 flow-back
Slide 2: Important Notice – Disclaimer
Important Notice – Disclaimer This investor presentation (“Presentation”) is issued by Cooper Energy Limited ABN 93 096 170 295 (“Cooper Energy” or “COE”). Summary information and purpose: This Presentation contains summary information about Cooper Energy and its activities as at the date of this Pr
Slide 3: Good Oil six years ago… Gas Strategy announced
Good Oil six years ago… Gas Strategy announced 2012: opportunity identified, analysis conducted, strategy initiated For personal use only Cooper Energy 2012 Presentation to Good Oil Opportunity outlined and strategy presented Conference Sept 2012 3
Slide 4: Portfolio style gas business built around Gippsland and Otway hubs
Portfolio style gas business built around Gippsland and Otway hubs Gas contracting & capex focussed on 2 hubs best placed for supply to south-east Australia For personal use only Cooper Basin Gippsland • Low cost/high margin oil production 0.2 • Sole gas project (Operator, 100%) million to 0.3 milli
Slide 5: Key results since Good Oil 2017
Key results since Good Oil 2017 Growing the business and value For personal use only 2P Reserves: up 4.6 times Production: up 54% Market capitalisation: up 50% Share price: up 50% MMboe MMboe $ million cents 0.435 1.49 696 463 0.29 0.97 52.4 0.25 0.46 11.7 1.3 109 FY16 FY17 FY18 FY16 FY17 FY18 Good
Slide 6: What have we done since last year?
What have we done since last year? Drilled and flowed 2 Sole wells and each provides more production capacity than required For personal use only $ 400m financing Drilling production wells Senior bank facilities & equity Sole-3 & Sole-4 success New gas contract Orbost Gas Plant Casino Henry gas to O
Slide 7: Sole Gas Project
Sole Gas Project 70% complete at end August 2018, within schedule and budget ORBOST GAS PROCESSING FACILITY For personal use only Works by APA Group Plant Upgrade & Operations Engineering progressing Procurement package being delivered Site works construction progressing Orbost Gas Plant: Inle
Slide 8: Production outlook
Production outlook Gas production to increase more than 5 times from existing resources and projects For personal use only Indicative1 production outlook MMboe Sole commences Henry development well 6 5 Excludes any Sole 4 commissioning gas. 30 PJ 32 PJ Commissioning planned to Gas 3 commence in Q4 F
Slide 9: Gas marketing
Gas marketing Indicative production profile: 128 PJ 2P gas to market from Sole and Casino Henry For personal use only PJ gas from 2P reserves Under negotiation Contracted 12 11 11 10 9 9 8 Uncontracted 10 21 11 Note 1. Assumes: • Sole sales from July 2019 • Henry development well 20 20 20 20 20 20 2
Slide 10: Southern states gas markets: ACCC view
Southern states gas markets: ACCC view For personal use only Prices aligning with LNG netback 2019 expected prices Average monthly commodity prices offered for 2019 supply against Expected 2019 wholesale gas commodity prices in the East Coast Gas Market contemporaneous expectations of 2019 LNG netba
Slide 11: FY20 offshore campaign for growth after Sole
FY20 offshore campaign for growth after Sole Preparation for a 4-well campaign1 For personal use only 1 Henry-2 sidetrack 1 • To produce 24 PJ undeveloped reserves (net to Cooper Energy) • Targeting initial production uplift of ~20 TJ/day gross 2 3 Otway gas exploration wells • 2 or more offshore ex
Slide 12: Exploration: Otway Basin offshore
Exploration: Otway Basin offshore Planning for drilling of two exploration wells1 For personal use only • Several prospects on trend with producing fields high-graded as potential candidates for 2020 drilling campaign • Easily defined 3-way structural traps • Completed 3D seismic inversion study val
Slide 13: Coming events
Coming events Next 12 – 15 months - an event-rich outlook For personal use only Sole Gas Project Project completion and sales commencement due within 10 months • Pipelay to commence October 2019 • Plant commissioning from Dec – Jan • Gas to plant from April • Project completion, production to commen
Slide 14: Wrap-up
Wrap-up For personal use only 1. Re-build complete • Cooper Energy has completed the rebuild to portfolio style gas business • Assets and gas best placed to supply the south-east Australian gas market 2. Sole is on-track • 70 % completed with major cost and technical milestones achieved • Within bud
Slide 15: Appendices
For personal use only Appendices
Slide 16: Reserves and Contingent Resources at June 2018
Reserves and Contingent Resources at 30 June 2018 1P (Proved) 2P (Proved + Probable) 3P (Proved + Probable + Possible) Reserves Unit For personal use only Cooper Otway Gippsland Total1 Cooper Otway Gippsland Total1 Cooper Otway Gippsland Total1 Developed Sales Gas PJ 0 15 0.0 15.2 0 26 0 26.4 0 36 0
Slide 17: Notes on calculation of Reserves and Resources
Notes on calculation of Reserves and Resources Notes on calculation of Reserves and Contingent Resources Cooper Energy has completed its own estimation of Reserves and Contingent Resources for its fully-operated Gippsland Basin assets, and elsewhere based on information provided by the permit Operat
Slide 18: Abbreviations
Abbreviations $, A$ Australian dollars unless specified otherwise For personal use only Bbl barrels of oil Boe barrel of oil equivalent EBITDA earnings before interest, tax, depreciation and amortisation FEED Front end engineering and design kbbl thousand barrels m metres MMbbl million barrels of oi