Beach Energy Limited · ASX:BPT
Beach Energy — Beach Petroleum — Investor Presentation (October 2004)
22 slides from Beach Energy's investor presentation, Oct 7, 2004
Slide 1: A New Milestone for Beach
A New Milestone for Beach - dT October 2004
Slide 2: Beach's growth strategy & focus
Beach's growth strategy & focus + Proven petroleum production provinces that are underexplored by world standards > Rejuvenation: after years of historical control +... Production has consistently exceeded initial ~~ projections... . Proximity to markets. Ability to. develop and produce quickly. for
Slide 3: Increasing Levels of Production
ing Levels of Production Aep sed qwepeainbs jio go sjeueg”™
Slide 4: Strong Cashflows & Financial Depth
? /_. Strong Cashflows & Financial Depth Total Revenue “ Operating Cashflow 1999/00 2000/01 2001/02 2002/03 2003/04 ~ Of $37.5 milli Net Profit After Tax 1999/00 2004/02
Slide 5: Annual Production (millions of barrels)
Millions of barrels @ Annual Pr
Slide 6: Reserves/Resource Growth
f _ Reserves/ Resource Growth 3 @ New Project contingent 9
Slide 7: Offshore Gippsland farm-in
Ofishor innstand Farm in to acquire 25% -* equity in. Basker/Manta/Gummy oil discoveries 7 Option to farm in for further 12.5% -*. Share subscription agreement to acquire. ares. in Anzon Austr. : Limited: oe + $5. million me pans ig 75% of BMG
Slide 8: Disclaimer
Disclaimer Important notice While this presentation and the information contained herein has been produced in good faith, neither Beach Petroleum Limited (“Beach”), Anzon Energy Limited ("AEL”) nor Anzon Australia Limited ("AZA”), their directors nor their employees give any guarantee or warranty as
Slide 9: Gippsland Basin asset map
— Leatherjacket vACIPSS rd-Scallop ta Anwon Energy LEGEND ‘Ol Fieid Gas Field Oil pipeline Gas pipeline
Slide 10: Historically controlled by major oil companies (ESSO/BHP)
f: ’ Historically controlled by major oil companies (ESSO/BHP) « Production consistently exceeds initial projections i in reserves and production rates . Rejuvenation in exploration by major and now small companies - Proximity to markets provides enhanced developm opportunity
Slide 11: Asset Overview
Asset Overview ? - *AZA acquired a 100% interest in the Vic RL-6,9,10 areas (Basker, Manta and Gummy fields) from Woodside Petroleum Limited in March, 2004 -Assets are located 50-75km off the Victorian Coast in Bass Strait, Australia (15+ 30km to the Tuna platform) at a water depth of 100-200m _~.*P
Slide 12: BMG Development Phase 1
BMG 6 Develop ne ent Phase 1 - May 2005: * Drill Basker-2 appraisal well at cost of $15.20 . million = ame _*. Beach to fund 33'/,% of costs up to $25 million - total cost, 25% if this limit exceeded . if total cost less than $25 million, residt
Slide 13: BMG Development: Phase 2
BMG Development: | masz = Late 2005/ early 2006: = * Proceed to field development of Basker & Manta - oil at cost of $1 16 million (full field development) © Beach to fund 33 115% of costs up to $1 76 million total cost, 25% if this limit exceeded | 9 Maximum net cost to Beach of $59 milli : any! re
Slide 14: BMG Development: Phase 3
BMG 6 Development 2008: * Proceed to field development of Manta & Gummy gas/condensate Beach to fund 30% of costs up to $100 million total cost, 25% if this limit exceeded. Net cost to. Beach of $30- 50 million, subj . 9,000 boepd
Slide 15: Turret moored, DP assist Crystal Ocean
Turret moored, DP assist Crystal Ocean “Four subsea producers and one gas injector manifolded on seabed % Single production riser and gas injection riser and E/H well controls
Slide 16: Quick Access to Market
Quick Acces a a FRBC SHUTTLE TANKER ;
Slide 17: Projected production profile for 100% of project
Projected production profile for 100% of project (full development of P50 reserves) 2008 2009 2010 2018 2012 2013 EB Basker Manta Oil ©! Manta Gummy Gas
Slide 18: Project Highlights
Project Highlights i *« Quality assets + Proven “blue-chip” Gippsland Basin, Bass Strait oil and gas development assets : + Proximate to major existing infrastructure including established oil refineries, : gas pipelines : + Proven and Probable (2P) oil reserves Sand contingent gas resources totalli
Slide 19: Next steps
N st — i Ly ” Immediate focus i is to: “*Bring the pasker-Manta Oil Assets into production Evaluate identified exploration leads: and “4% Commercialise Manta-Gummy gas assets.
Slide 20: Structure (cost, equity, acquisition/IPO)
” Structure (nost min + equity . / acqusition/are IPO) |
Slide 21: Potential to add a further million barrels oil production per year
Potential to add a further 2 million barrels oil production per year in 2006/07 More than doubles reserves base to nearly 10.5 million barrels of oil Contingent gas/condensate resource of 4. 8 million barrels of oil equivalent 10-11% shareholding in AZA gives indirect exposure to a further. 17.5 mmb
Slide 22: Conclusion
Conclusion Quality development assets in.Gippsland Basin Experienced management with a successful track record Robust base-case NPV for oil development project, potentially enhanced by upside from defined gas resources and proving up of possible reserves and exploration leads . oe . Loes . Developme
Beach Petroleum — Investor Presentation (October 2004) on 6ix