Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — Investor Presentation (August 2010)
15 slides from Melbana Energy's investor presentation, August 2010
Slide 1: Investor Update August 2010
Disclaimer This presentation includes certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and ci
Slide 2: Corporate snapshot
Corporate snapshot Open, retail register, material cash*, leveraged to export gas markets 140 Asian Net Gas Imports China MEO Australia Limited (MEO) 120 Issued shares 477.2m 100 (Ordinary fully paid ) 80 Unlisted options 8.9m Other 60 South Korea Mkt Cap (@$0.37) $177m 40 Japan Cash (@ 30th June) A
Slide 3: Project summary
Project summary Leveraging existing portfolio, seeking quality people & new projects Category Status Plans People Balanced Board In place since October 2008 Experienced Management Seeking to add further capability Projects North West Shelf (Exploration) -WA-360-P (25%, Operator) Contracted rig. Dril
Slide 4: Balanced Board
Balanced Board Blend of industry and capital market experience Nick Heath Non-Executive Chairman • Appointed May 2008 • Engineer • >30 years with ExxonMobil • Past APPEA President Jürgen Hendrich Greg Short MD & CEO Non-Executive Director • Appointed July 2008 • Appointed July 2008 • Geologist, Inve
Slide 5: Experienced management team
Experienced management team Seeking to selectively add high quality people Jürgen Hendrich MD & CEO • Geologist 12 yrs with ExxonMobil subsidiary • 14 yrs in financial markets Colin Naylor Ken Hendrick CFO/Company Secretary Implementation Manager • 30 years at Woodside, BHP, Rio • >40 years with lar
Slide 6: Recent and near term milestones
Recent and near term milestones De-risking projects & attracting funding partners to test potential Milestone Status Date Identify preferred farmin partner for WA-360-P (Artemis) Sep 2009 Secure funds and commit to drilling Artemis-1 Nov 2009 Execute WA-360-P Farmin agreement Apr 2010 Secure F
Slide 7: Carnarvon Basin – the premier LNG address!
Carnarvon Basin – the premier LNG address! MEO acreage on trend with recent discoveries/developments Pluto Project (4.5 Tcf) Artemis Under Construction Prospect 4.3 Mtpa (1 train) (~12 Tcf) NWS Project (30 Tcf) Expansion needs gas WA-361-P Existing Scarborough 16.3 Mtpa (5 trains) (8 - 10 Tcf) Wheat
Slide 8: Artemis prospect DHI comparison with Perseus
Artemis prospect DHI comparison with Perseus DHI* conformable with structure – similar to Perseus field East Artemis Prospect: WA-360-P (MEO 25%+) Perseus Field – NWS JV Base Calypso Amplitude Interpreted gas-water Depth Map Extract contact Published outline of field Interpreted Interpreted gas-wate
Slide 9: Artemis prospect – applying technical rigour
Artemis prospect – applying technical rigour DHI analysis to identify & quantify probability* of gas sands Acoustic Impedance 80% Gas Sand probability envelope Poisson’s Ratio Simultaneous inversion was undertaken to produce three datasets (Acoustic Impedance, Poisson’s Ratio and Gas Probability*) t
Slide 10: Timor Sea Projects
Timor Sea Projects Tassie Shoal projects have Environmental Approvals Timor-Leste Methanol Gas Loading Buoy Supply N PLEM Pipelines 2500m Methanol Abadi Cooling Plant (5,000 Water tpd stage 1) Indonesia Outlet Greater Australia Barossa ACP LNG Storage Sunrise Evans Shoal LNG Plant Blackwood (3 mtpa)
Slide 11: NT/P68 (100% MEO) hosts 2 gas discoveries
NT/P68 (100% MEO) hosts 2 gas discoveries Farm-out pending finalisation of resource certification NT/P68 (MEO 100%) Renewal Outline Magellan buys 40% of Evans Shoal (28% CO2) for up to A$200m NT/P68 Blackwood 3D Top Elang/Plover Reservoir Contour Interval: 20 m Epenarra 3D over Heron North/South 11
Slide 12: Resource certification is pending
Resource certification is pending Acoustic impedance (AI) studies to predict reservoir sweet spots Heron-2 porosity = 6% Improved porosity co-incides with low AI suggested by seismic Improved porosity suggested by seismic 12
Slide 13: Seismic used to model porosity distribution
Seismic used to model porosity distribution Inputs provided to Gaffney Cline for resource certification Impedance vs porosity All wells Preliminary rock volumes 60.00 50.00 40.00 NRV(BCM) BCM 30.00 GRV(BCM) Cut-off lines contribution(BCM) 20.00 10.00 0.00 0 5 10 15 Cut off porosity Porosity 13
Slide 14: Active portfolio management
Active portfolio management Systematically identifying & crystallising potential value 2H2009 2010 1H2011 WA-360-P (25%, Carnarvon) • Complete data room process • Select preferred farminee negotiate execute • Farmout agreements FIRB Permit Tfr • Regulatory approvals Artemis-1 Well (WA-360-P) • Raise
Slide 15: Summary
Summary Identifying potential, forging partnerships, unlocking potential value • Large gas projects near established infrastructure with identified path(s) to monetise • Balanced board, experienced management, selectively adding high quality people • 25% equity in ~12 Tcf Artemis prospect – drilling