Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — Shareholder Meeting (November 2012)
10 slides from Melbana Energy's shareholder meeting presentation, Nov 15, 2012
Slide 1: 2012 Annual General Meeting
2012 Annual General Meeting ”Building a portfolio of opportunities to create value” November 15, 2012 1 MEO Australia Limited
Slide 2: 2011-12 value creation initiatives
2011-12 value creation initiatives Key business components People • Our competitive advantage • Further expanded capabilities Tassie Shoal Projects People Exploration • Heightened emphasis Portfolio Exploration Portfolio • Expanded and consolidated • Significant investment in 3D seismic Projects Dri
Slide 3: People – our core asset
People – our core asset Further expanded technical and commercial capabilities • MEO’s business model involves acquiring high initial equity in projects, adding value technically, then farming out to recover costs and fund drilling • Specialist New Venture capabilities are required to screen a large
Slide 4: Tassie Shoal Projects
Tassie Shoal Projects Heightened emphasis • Appointed Robert Zammit as Executive Manager – Business Development with primary focus on Tassie Shoal Projects • Re-gained 100% unencumbered interest in TS Methanol Project • Environmental approval updated & extended for TS LNG project • MPF Status renewe
Slide 5: Exploration Portfolio
Exploration Portfolio Continued to build and consolidate the portfolio Gulf of Thailand • Acquired 50% interest in G2/48 – Near ground floor terms South Madura PSC • Increased interest to 90% – Modest cash consideration Vulcan Sub-Basin • Awarded AC/P53 (100%) – Government gazettal award Carnarvon B
Slide 6: Invested $28m in 3D seismic
Invested $28m in 3D seismic 3D seismic acquired in 8 permits, 2D seismic in 1 permit Gulf of Thailand • Rayong 3D 450 km2 Seruway PSC • Ibu Horst 3D 708 km2 Carnarvon Basin • Foxhound 3D (WA-360-P) 363 km2 • Zeus 3D (WA-361-P) 323 km2 Vulcan Sub-Basin • Zeppelin 3D (AC/P50 & 51) 508 km2 • Zeppelin 2
Slide 7: Adding value through the drill bit
Adding value through the drill bit 4 wells, three countries, testing potential LNG scale gas, domestic gas & oil Heron South -1 (50%, paying 0%) • Prospective 5TCF* gas resource 75 km from Tassie Shoal • Preparing to production test two gas zones (120m & 115m gross) Gurame SE-1XST (100%, paying 100%
Slide 8: 2013-14 drilling pending farm-outs, 3 planned
2013-14 drilling pending farm-outs, 3 planned Seeking to recover costs and attract funding for future drilling Bonaparte Gulf (WA-454-P, 100%) • Launched 1st November • Marina up to 302 Bcf* gas and 22 MMstb* oil (P10) • Breakwater up to 2.7 Tcf with 276 MMstb liquids (P10) North Sumatra (Seruway PS
Slide 9: 2012-13 outlook
2012-13 outlook 4-5 wells in 2012-13, up to 4 wells in 2013-14* 2012 2013 MEO Q3 Q4 Q1 Q2 Q3 Q4 Activity Equity Remarks Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec MEO firm wells Target Heron South-1 50% 5 Tcf raw gas Gurame SE-1XST 100% 0.5 Tcf, 50+ Mmstb Anchan-1 50% `
Slide 10: Disclaimer
Disclaimer Compliance This presentation has been prepared by MEO Australia Limited for professional and sophisticated investors. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financi