Energy World Corporation Ltd · ASX:EWC
Energy World — Investor Presentation (March 2021)
36 slides from Energy World's investor presentation, Mar 23, 2021
Slide 1: Energy World Corporation Ltd Investor Presentation
Energy World Corporation Ltd Investor Presentation March 2021 (ASX: EWC)
Slide 2: Our Business
OUR BUSINESS The development, design, construction and operation of power related infrastructure Energy World Corporation Ltd (ASX: EWC) (“Energy World” or the “Company”) is an established, integrated energy company with operations in SE Asia & Australia Our vision is to deliver clean and affordable
Slide 3: Corporate Snapshot
CORPORATE SNAPSHOT 12-Month Share Price Performance and Volume ASX Stock Code EWC Board and Leadership team FY20 EBITDA US$78.7m Stewart Elliott Chairman, MD and CEO H1 FY21 Revenue US$72.9m Brian Allen Exec Director, Finance Director H1 FY21 NPAT US$9.5m Graham Elliott Exec Director & Co.Sec Share
Slide 4: Capital Raising
CAPITAL RAISING Indicative Timetable Trading Halt Friday, 19 March 2021 A “Capital Raising” of circa $65m via an underwritten non-renounceable rights offer as Announcement of Rights Issue and Trading Resumes Tuesday, 23 March 2021 follows "Ex" date Thursday, 25 March 2021 • Shareholders at the Recor
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS – Need same font throughout • Current operation in Sulawesi produces ~315Mw of power using gas from the Company’s own gas field. The Company has security of supply of its key resource input and Established key infrastructure produces approx. 24% of the region’s power at full lo
Slide 6: Gas and LNG – A Step in the Green Direction
GAS AND LNG – A STEP IN THE GREEN DIRECTION Source: BP Outlook 2017 According to BP, gas will soon Renewables are growing rapidly, Demand for LNG from Asian overtake coal to become the but from a low base: gas is consumers is forecast to double over world’s 2nd most important needed to help stabilis
Slide 7: Electricity Consumption – Growing Demand
ELECTRICITY CONSUMPTION – GROWING DEMAND Kilowatt Hour Consumption Per Capita Per Annum. Source: World Bank Luzon, Philippines Power Demand Supply Outlook – 2016- 2040 • Indonesian and Philippine energy demand is growing rapidly from a low base. • The Philippines Department of Energy forecasts that
Slide 8: Our Projects
OUR PROJECTS Projects Under Development: • Sengkang 2mtpa LNG (Indonesia) • Philippines 650MW Power and LNG Hub Terminal • Gilmore LNG Developed Projects: • Sengkang Gas & Power (Indonesia) • Alice Springs LNG and Gas Power • Cooper Basin Conventional Gas ENERGY WORLD CORPORATION LTD PG 8
Slide 9: Our Value Proposition
OUR VALUE PROPOSITION Present Book Value versus Potential Value on Completion 4500 US$4bn+ 4000 Philippines We have developed a clear Steam Turbine Mid-2023 strategy to deliver a 3500 Extension significant value uplift which On Completion Value Uplift 3000 unlocks as we complete the Indonesian 2mtpa
Slide 10: Indonesian Projects
Indonesian Projects: • S e n g ka n g G a s P ro d u c t i o n S h a r i n g C o n t ra c t ( P S C ) • S e n g ka n g Po w e r S ta t i o n • S e n g ka n g L N G ENERGY WORLD CORPORATION LTD PG 10
Slide 11: Sengkang Gas Field
SENGKANG GAS FIELD The Sengkang Production Sharing Contract (PSC) Block is 100% EWC-owned, was recently extended to 2042 and covers 2,925 km2 in South Sulawesi. Prospect/Lead Gas in Place (BCF) P10 P50 P90 Tacipi Prospect 1,778.72 1,567.46 1,376.77 Tacipi Lead 1,855.18 1,645.43 1,456.92 Gas from the
Slide 12: Sengkang Power Station
SENGKANG POWER STATION Aerial view of Sengkang Power Plant Block 2 Location Capacity Sengkang Block I: 135MW Block II: 180MW South Sulawesi, Total Output: 315MW Indonesia (total rated output of 357 MW) Performance Metric Completion Date Trailing 3 year Avg. Block I = 1996, Availability Factor = 86.3
Slide 13: Sengkang LNG
SENGKANG LNG The Sengkang LNG Construction is 80% Construction is 80% Gas for the LNG plant We also have a license Plant has a design complete, having complete, having been will be purchased from to export LNG, subject capacity of 2 mtpa, been delayed since delayed since 2017 due EWC’s Sengkang gas
Slide 14: Indonesia – Growth Opportunities
INDONESIA – GROWTH OPPORTUNITIES With an underlying gas resource estimated by PT Lapi ITB of 7-9 TCF gas in place; there are many opportunities for expansion ENERGY WORLD CORPORATION LTD PG 14
Slide 15: Philippines Projects
Philippines Projects: • Pa g b i l a o L N G H u b Te r m i n a l • 6 5 0 M W Po w e r P l a n t ENERGY WORLD CORPORATION LTD PG 15
Slide 16: Pagbilao: 650MW Power Plant & Philippines' 1st LNG Hub Terminal
PAGBILAO: 650MW POWER PLANT & PHILIPPINES’ 1ST LNG HUB TERMINAL Pagbilao Energy World has constructed the We are also developing a 650MW Project first LNG Hub Terminal in the CCGT power plant at this site. Philippines, which will act as a hub Construction of the first 400MW is for onward distributio
Slide 17: Pagbilao: The Philippines' 1st LNG Hub Terminal
PAGBILAO: THE PHILIPPINES’ 1ST LNG HUB TERMINAL View of Jetty and EWC has laid the Hub Terminal foundations for a second 130,000 m3 storage tank Strategically important asset for Philippines’ nascent gas industry 130,000 m3 LNG Deep water jetty is Facility can handle a This will support our Hub Term
Slide 18: Pagbilao: 650 MW CCGT Power Plant
PAGBILAO: 650 MW CCGT POWER PLANT • 650 MW Combined Cycle Gas Turbine Power Plant construction is substantially completed • Project developed in stages: • Block 1 - 200 MW gas turbine (85% complete) • Block 2 - 200 MW gas turbine (80% complete) • Block 3 - 250 MW steam turbine (foundations complete,
Slide 19: The Final Link – Connection Agreement Secured
THE FINAL LINK – CONNECTION AGREEMENT SECURED NGCP TAYABAS SUB-STATION NEW PAGBILAO SUBSTATION BY NGCP NGCP NAGA SUB-STATION NGCP TAYABAS – NAGA TRANSMISSION LINE MAINLAND LUZON Main grid access is to be EWC has signed a connection secured once the National agreement and is proceeding Transmission C
Slide 20: LNG Distribution: Key Link in the Value Chain
LNG DISTRIBUTION: KEY LINK IN THE VALUE CHAIN Large LNG vessel for deliveries of LNG to the Hub Terminal Middle size LNG ship for distribution of LNG on a Ocean Quest (pictured above), owned by our major shareholder EWI, will be used to ship national scale LNG to the Hub Terminal The Pagbilao LNG Hu
Slide 21: Political Support: Philippines Department of Energy Site Visit
POLITICAL SUPPORT: PHILIPPINES DEPARTMENT OF ENERGY SITE VISIT Pagbilao LNG Hub Terminal on 26 July 2017 (From Left Donato Marcos Redentor Delola Felix William Stewart W.G. Elliott Alfonso Cusi Admiral Lista Brian Allen Jesus Posadas Matthias Weber Undersecretary Assistant Fuentebella Chairman, M.D.
Slide 22: Australian Projects
Australian Projects ENERGY WORLD CORPORATION LTD PG 22
Slide 23: Australia – Fields and LNG Facilities
AUSTRALIA – FIELDS AND LNG FACILITIES Australian domestic gas EWC’s 100%-owned gas Importantly, they also In addition, we have prices have increased fields have proven have existing gas previously commenced significantly over the reserves and are processing facilities construction of a past few year
Slide 24: Australian Projects
AUSTRALIAN PROJECTS EWC has a 1/3 share of the Strike Energy (ASX: STX) operated PEL 96 in South Australia and 2% interest in the Santos (ASX: STO) operated Naccolwah JV. EWC’s 100%-owned petroleum leases (PLs) 115, 116 and 117 are progressing through the approval process. Once approved, EWC will ga
Slide 25: Financials
FINANCIALS Oil & Gas Assets, PP&E, Assets Under Construction Revenue by Segment Gross Profit (US$ ’000s) and Exploration & Evaluation Assets 120,000 200000 1,800,000 180000 1,600,000 100,000 160000 1,400,000 140000 80,000 1,200,000 120000 1,000,000 100000 60,000 800,000 80000 600,000 60000 40,000 40
Slide 26: Experienced and Invested Management
EXPERIENCED AND INVESTED MANAGEMENT Philippines Power Projects Developed by Stewart Elliott Capacity Location Contract Amount (USD) (MW) Navotas - 1 200 $150 Million Navotas - 2 105 Pagbilao Coal 735 $930 Million Sual 1200 $1,300 Million O & M Barges 270 LNG Hub Terminal $300 Million Power Plant 650
Slide 27: Portfolio Summary and Roadmap to Value Uplift
PORTFOLIO SUMMARY AND ROADMAP TO VALUE UPLIFT INDONESIA PHILIPPINES Gas Power LNG LNG Hub Power 2P reserve: 203 BCF 350 MW capacity 4x500 ktpa modules = 2 mtpa First of two 130,000 m3 Phase 1: 2x 200MW gas Gas in Place: 7-8 TCF 80% complete tanks is 90% complete turbines ~80% complete
Slide 28: Delivering Clean and Green Energy to Asia Pacific
Delivering Clean and Green Energy to Asia Pacific Contact Us F o r i n v e s t o r, p a r t n e r a n d media enquiries, please contact: +852 2528 0082
Slide 29: Appendix: Risk Factors
Appendix: Risk Factors This section sets out some of the key risks associated with: (a) the Company and its existing business; and (b) participation in the Entitlement Offer and share ownership. The risks set out in this section are not listed in order of importance and do not constitute an exhausti
Slide 30: Risk Factors…..continued
Risk Factors…..continued Construction and new production facilities Energy World is constructing two significant new projects. Construction and commissioning of any new facility is dependent on a number of contingencies, some of which are beyond the Company’s control. These contingencies include but
Slide 31: Risk Factors…..continued
Risk Factors…..continued Contractual risk Energy World's revenues are subject to underlying contracts associated with power, gas and LNG services with varying terms and conditions. There is a risk that these contracts may be cancelled or may not be renewed if there is a change in the market or if cu
Slide 32: Risk Factors…..continued
Risk Factors…..continued Commodity risk The price that Energy World achieves and/or may achieve for its products and services may be impacted by global commodity prices. Historically, commodity prices have fluctuated and are affected by numerous factors beyond the Company’s control, including global
Slide 33: Risk Factors…..continued
Risk Factors…..continued Social risk Energy World's projects and operations interact with a range of community stakeholders who have an interest in the impacts of Energy World's activities and the manner in which economic benefits are shared from such activities. These interactions pose a number of
Slide 34: Risk Factors…..continued
Risk Factors…..continued 2. Risks relating to the Entitlement Offer and share ownership Trading price of Energy World shares There are risks associated with any share market investment. It is important to recognise that share prices and dividends might rise or fall. Factors affecting the operating a
Slide 35: Disclaimer
DISCLAIMER NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OF AMERICA This investor presentation (Presentation) has been prepared by Energy World Corporation Ltd (Energy World or the Company). This Presentation has been prepared in relation to a non-renounceable entitlement offer of new fully p
Slide 36: Important Notice
Important Notice Shares are being offered and sold as part of the Capital Raising only to: a) sophisticated investors, experienced investors or professional investors (as those terms are defined in sections 708(8), (10) and (11) of the Corporations Act 2001 (Cth) (“Corporations Act”)) in Australia;