Melbana Energy Limited · ASX:MAY
Melbana Energy — Shareholder Meeting (November 2017)
24 slides from Melbana Energy's shareholder meeting presentation, Nov 23, 2017
Slide 1: Annual General Meeting: Managing Director's Presentation
For personal use only Annual General Meeting: Managing Director’s Presentation November 2017
Slide 2: Disclaimer
Disclaimer For personal use only Forward-looking Statements and Resources Summary of information: This presentation contains general and background information about Melbana Energy’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise
Slide 3: Company Overview
Company Overview For personal use only 12 month share price performance Company Data Index S&P/ASX All Ordinaries 3 25 Volume ASX Ticker ASX:MAY Share price 20 Shares on issue ~1,494m 2 15 Millions Cents Options ~187m 10 1 Share Performance 5.33m 5 Rights 0 - Market Cap ~$21m (at 22 Nov) Nov 16 Dec
Slide 4: Melbana Project Summary
Melbana Project Summary Cuba For personal use only USA • Block 9 exploration potential of ~12.5 billion barrels of oil-in- place with recoverable Prospective Resources of 637 million USA barrels (100% share, unrisked Best Estimate)* • Proven oil trend, ~30km from giant 11 billion barrel oil-in-place
Slide 5: Cuba
For personal use only Cuba 5
Slide 6: Cuba Block – An Overview
Cuba Block 9 – An Overview • Multi-billion barrel potential For personal use only • 100%* interest in Block 9 PSC (2,380km2 or 588,000 acres) located onshore in Cuba • 25 year term in total (awarded in 2015) • 8.5 year exploration period divided into 4 sub periods with minimum work program: − 1 (Sep
Slide 7: Cuba Block – An Oil Rich Region
Cuba Block 9 – An Oil Rich Region Cuba Prospectivity and Market For personal use only • Represents under-explored south-eastern margin of the Gulf of Mexico - one of the world’s great petroleum mega provinces • Limited application of modern exploration techniques due to 50+ year US embargo • Cuba cu
Slide 8: Cuba Block – Resource Assessment
Cuba Block 9 – Resource Assessment Exploration potential for over 12 billion barrels of oil-in-place For personal use only • Exploration potential of over 12.5 billion Boca de Canasi- Bacuranao Jaruco P. Escondido Yumuri- barrels of oil-in-place and Prospective Seboruco Varadero Majaguillar Resource
Slide 9: Cuba Block – Leads in Conventional Play
Cuba Block 9 – 19 Leads in Conventional Play Priority drill targets identified – Alameda, Zapato and Piedra For personal use only Block 10 (Sherritt 100%) drilling exploration well, results expected Q4 2017 9
Slide 10: Cuba Block – Alameda Prospect
Cuba Block 9 – Alameda Prospect Multi-target exploration drilling opportunity close to historic oil recoveries For personal use only • Primary objective in depth range from 3,000 to 3,700 metres • Marti-5 (drilled 1988) recovered lighter oil (24°API) and had oil shows over a 850 metre gross interval
Slide 11: Cuba Block – High Potential Zapato Prospect
Cuba Block 9 – High Potential Zapato Prospect Multiple structures with hundred million barrel exploration potential For personal use only • Zapato Prospect is a large structure targeting fractured carbonate objective • Close to the shallower Motembo oil field which historically produced high quality
Slide 12: Cuba Block – field work commenced
Cuba Block 9 – field work commenced For personal use only Local contractors undertake initial site surveys of Alameda-1 well location • Cuba Block 9 PSC field work commenced • Survey completed of Alameda-1 well site, camp site and access road • Benign surface conditions encountered at well site loca
Slide 13: New Zealand
For personal use only New Zealand 13
Slide 14: Onshore New Zealand – PEP51153 Overview
Onshore New Zealand – PEP51153 Overview • For personal use only Melbana has 30% interest in PEP51153, operated by TAG Oil Ltd (“TAG” 70%) Puka PEP 51153 • Located onshore in New Zealand <10km Waihapa east of TAG’s producing Cheal field Cheal • Independent expert values TAG’s 2P Pukatea reserves in n
Slide 15: Onshore New Zealand – Pukatea-1 (Melbana 30%)
Onshore New Zealand – Pukatea-1 (Melbana 30%) High impact Pukatea oil prospect – recent improvements in market For personal use only conditions improves economics • Prospective resources estimated to range from 1.3 to 40 million barrels (Low-High estimates, 100% share) • Targeting a highly productiv
Slide 16: Other Assets
For personal use only Other Assets 16
Slide 17: Northern Australia Acreage and Projects
Northern Australia Acreage and Projects DILI Discrete upstream projects adjacent to proven hydrocarbons For personal use only ABADI GREATER SUNRISE BAROSSA Kupang Kupang EVANS SHOAL Joint Petroleum BLACKWOOD CALDITA Development HERON Area BAYU-UNDAN Tassie Shoal Projects Concept TSMP2 TSM
Slide 18: Australia – WA-488-P & the Beehive Prospect
Australia – WA-488-P & the Beehive Prospect Beehive - One of the largest undrilled hydrocarbon structures in Australia For personal use only • Beehive is a significant, multi billion barrel oil Darwin prospect located on WA-488-P • Beehive Prospective Resources estimated to PETREL range from 97 to 2
Slide 19: Australia – Beehive Prospect
Australia – Beehive Prospect Beehive – a feature of enormous scale For personal use only • Located in ~40 metres water depth • Target depth 4,000 – 4,500m • Prospect reservoir is an isolated carbonate platform of Carboniferous age. • Enormous feature: – Carbonate platform is 18km across (approx. sam
Slide 20: AC/P50 & AC/P51 (Melbana 55%*): Multiple oil targets
AC/P50 & AC/P51 (Melbana 55%*): Multiple oil targets Improved seismic data quality: additional prospectivity For personal use only • Identified material Ramble On and Jur’maker oil prospects in proven petroleum system defined on modern 3D seismic data • Suitable for lower cost jack-up drilling rig •
Slide 21: Investment Highlights
Investment Highlights Cuba For personal use only ✓ Only ASX listed company with Cuban energy exposure ✓ Block 9 exploration potential increased 50% to >12 billion barrels of oil-in-place and Prospective Resources of >600 million barrels (unrisked Best Estimate, 100% share)* ✓ Priority drill targets
Slide 22: Melbana Summary
Melbana Summary Multiple potential catalysts to support a significant re-rating For personal use only • Multiple high impact exploration drill targets identified CUBA • Up to two wells to be drilled commencing mid 2018 BLOCK 9 PSC • Drill program planning underway • Potential farmout transaction • P
Slide 23: www.melbana.com
For personal use only www.melbana.com
Slide 24: Tassie Shoal Projects (Melbana 100%)
Tassie Shoal Projects (Melbana 100%) For personal use only Shallow water, innovative low cost development paths for regional stranded gas • Region has substantial undeveloped low and high CO2 gas that needs a viable development solution • Melbana Energy has developed the concepts and obtained enviro