Key Petroleum Limited · ASX:KEY
Key Petroleum — Investor Presentation (June 2010)
16 slides from Key Petroleum's investor presentation, Jun 28, 2010
Slide 1: Investor Presentation June / July 2010
For personal use only INVESTOR PRESENTATION June / July 2010 PRESENTATION DISCLAIMER The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of Key Petr
Slide 2: Capital structure and core assets
Shares on Issue 130,175,518 Share Price 7.3 c (23/06/2010) For personal use only Options Unlisted 5,000,000 @ 50c, 750,000 @ 20c - expiring on 30/11/2010 Market Cap Approx $10 Million (23/06/2010) Debt Nil Cash on Hand AUD$2.75 Million – plus oil production sales of approx $150 - $200k /month CORE A
Slide 3: Activity summary by region
United Kingdom Ongoing Production 80 BOPD Net to Key Preparations for drilling of horizontal development well For personal use only Lidsey #2 Tanzania Divestment process underway for Nyuni and West Songo Songo PSA areas Nyuni Joint Venture has agreed to drill Nyuni-2 Major international companies ta
Slide 4: Opportunity in our own back yard: EP437
But: Opportunity in For personal use only our own back yard EP437 Perth Basin 2 well drilling End Q3 / Q4 Shallow depth Potential for Oil Production of 400 BOPD Key to earn 45% by paying 60% , Capped Drilling Cost AUD$2.25 MM 4
Slide 5: EP437 Regional Picture
EP437 REGIONAL PICTURE Kockatea Shale one of the best, oil prone Conder-1 marine source rocks identified in For personal use only Australia. Wye / Wye Knot Kockatea sourced most oil and some gas Dibbler in North Perth Basin fields North Perth Basin Oil Cond Gas Dunnart Cumulative Prod 31-Dec-09
Slide 6: North Perth Basin – EP437
NORTH PERTH BASIN – EP437 Why ? Has potential to add to Key’s share value: For personal use only “Dibbler” Prospect 7 cents a share “Dunnart” Prospect 3 cents a share Additional Prospects in permit 1 Year pay back with reasonable success High quality reservoir at 300-700m depth Opportunity t
Slide 7: EP437 Farm-In Program
EP437 FARM-IN PROGRAM What can it deliver? Wells to be drilled using For personal use only either modified mineral rig, or water well rig, reducing Q3/Q4 drilling drilling costs for shallow “Dunnart” and “Dibbler” wells prospects, each economic on unrisked standalone basis Potential payout 1
Slide 8: Payback and Cumulative Cash Flow Charts
PAYBACK AND CUMMULATIVE CASH FLOW CHARTS For personal use only Potential Dunnart Unrisked P10 (Net to KEY) Dibbler Unrisked P10 (Net to KEY) 400 20.0 250 10.0 350 200 8.0 300 15.0 250 150 6.0 BOPD $ MM BOPD $ MM 200 10.0 100 4.0 150 100 5.0 50 2.0 50 0 0.0 0 0.0 Cumm Cash Flow BOPD Cumm Cash Flow BO
Slide 9: Follow the Spillchain
Conder-1 Composite Log EP 437 Follow the Spillchain!! For personal use only Prospective Resource P90 P50 P10 Oil staining (Rec) MM bbl MM bbl MM bbl Unrisked Dibbler 0.14 0.36 0.56 Dunnart 0.20 0.40 0.95 4MMcfd on 3/4 “ 1.7MMcfd on 3/8” Prospects reasonable constrained for onshore Dibbler 2D sei
Slide 10: UK onshore production
For personal use only Acquired Q3 2009 Worked over one well Currently ≈ 80 BOPD (with one well off line for maintenance) Established, simple operations Oil production revenue to Key Petroleum from day one Approval process for drilling development well at Lidsey. Potential to add 200 – 40
Slide 11: East African activity continues
East African activity continues – For personal use only Offshore Tanzania – • Deepwater action : Petrobras, Shell, Exxon, Statoil, BG & Ophir Onshore Tanzania – • Ongoing drilling by Maurel & Prom and Tullow Northern Mozambique – • Anadarko 6 wells 2010 • 2/2 discoveries so far 11
Slide 12: West Songo Songo and Nyuni PSA
WEST SONGO SONGO NYUNI PSA For personal use only 50% Key & Operator 20% Key 1 Tcf undiscovered gas Appraisal seismic shot over Kiliwani North gas Tanzania gas market niche discovery (40 MMscfd) over next 4 years Kiliwani North Sheltered, shallow water, commercialisation simple developm
Slide 13: Key in Italy
BORSANO LICENCE (100%) KEY IN ITALY Close to industrial City of Milan, For personal use only LAMPEDUSA, WEST SARDINIA & Po Valley ELBA SOUTH • Prospective for both oil and gas (100%) Borsano Elba South (Progressing Exploration Status) Under-explored shelf, prospective for gas, close to major mar
Slide 14: The Play: Pelagian Shelf
THE PLAY For personal use only Pelagian Shelf (7BBOE discovered off Tunisia & Libya - Oilsearch 2008) Oil prone Cretaceous source rock Italian Govt “take” <40% Lampedusa unexplored since 1980’s oil price crash Key has mapped original seismic data Leads with unrisked mean STOIP up to 250M
Slide 15: Suriname activity
ACTIVITY: For personal use only Uitkijk – Statsolie announced 7 mm barrels estimated reserves Uitkijk 10 wells drilled - 2008/2009 Block 7 mm bbls est’d Coronie – Coronie Block 5 wells Q4 2009 Reserves 5 wells to be drilled, (now waiting on rig arrival) Key Petroleum owns 1.75% free carried in
Slide 16: Upcoming activity
Onshore Southern England For personal use only Optimisation and Development Drilling Programme. Drilling scheduled Q3/4 2010 Tanzania Continue with divestment programme Italy Finalize Lampedusa with Ministry of Economics and North Perth Basin - drilling of 2 wells Q3/Q4 2010 16 www.keypetrol