Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Merger or Acquisition (October 2016)
18 slides from Bass Oil's merger presentation, Oct 25, 2016
Slide 1: The Path Forward: Indonesia
For personal use only Onshore South Sumatra Bunian-3 drilling Source: Cooper Energy The Path Forward: Indonesia Investor Presentation October 2016
Slide 2: Landmark Acquisition of Indonesian Production Assets
Landmark Acquisition of Indonesian Production Assets For personal use only Bass Strait Oil Company has acquired Cooper Energy’s 55% interest in the Tangai-Sukananti production assets located in South Sumatra, Indonesia which will: • Immediately transform the company into a producer (the assets curre
Slide 3: Bass Strait Oil & Gas Company (ASX:BAS)
Bass Strait Oil & Gas Company (ASX:BAS) For personal use only Capital Structure Share Ownership Summary Shares on Issue 1,287.0 M Cooper Energy Ltd 13.5% Tino Guglielmo Market Cap (@ $0.002) A$2.6 M 10.9% Mark Lindh 52.3% 10.2% Tattersfield Group Cash Estimate A$0.3 M Icon Holdings Pty Ltd 8.2% Ente
Slide 4: Tangai-Sukananti Production Assets
Tangai-Sukananti Production Assets For personal use only Acquisition of Cooper Energy’s 55% interest in Tangai-Sukananti production asset - located in the South Sumatra Basin, a prolific oil & gas region in Indonesia Proven operations with substantial low-cost and low-risk development options
Slide 5: Strong Project Economics
Strong Project Economics For personal use only Current production of ~500 bopd (100% JV share) – opportunity to increase through production optimisation Operating costs currently ~US$35 / bbl – investigating cost optimisation opportunities Free cash flow (net to BAS) of ~A$ 2.1 million by end
Slide 6: Key Acquisition Terms
Key Acquisition Terms For personal use only Cash consideration of A$500,000 at the Completion Date Scrip consideration of 180,000,000 shares in BAS at $0.0015 per share – subject to EGM approval A$2,270,000 cash payable 12 months from Completion Date Balance of working capital items are to b
Slide 7: Investment Case
Investment Case For personal use only Assets are cash flow positive at current oil pricing - significantly leveraged to improved market conditions Strong Project Economics Current production of ~500 bopd (100% JV share) On average, generation of $A100-150K free cash flow per month at US$50 / b
Slide 8: Indonesia: Investment Rationale
Indonesia: Investment Rationale For personal use only BAS views Indonesia as an ideal place for investment in the current market Worlds fourth-largest population (~250 million) Fast-growing economy (GDP ~ 6%pa) Oil and gas demand growing at > 5%pa Declining conventional oil/gas supply Supp
Slide 9: Indonesia: World Class Oil & Gas Basins
Indonesia: World Class Oil & Gas Basins For personal use only Sumatra is Indonesia’s most established hydrocarbon province – ideal platform for building a regional business Discovered hydrocarbons in Indonesia onshore provinces Source: IHSE (onshore oil & gas reserves shown only) Investor Presentati
Slide 10: South Sumatra: Prolific Oil & Gas Province
South Sumatra: Prolific Oil & Gas Province For personal use only The Sukananti production asset is located in South Sumatra, a leading hydrocarbon province in the region Asia-Pacific onshore basins, ranked by discovered hydrocarbons Source: IHSE Investor Presentation • October 2016 10
Slide 11: Tangai-Sukananti KSO: Overview
Tangai-Sukananti KSO: Overview For personal use only Cooper Energy signed Sukananti KSO in July 2010 Operations in the KSO primarily focused on Bunian oil field which was discovered in 1998 Produced over 1.25 million barrels as at June 2016 Bunian-1 was the only producing well in the area up
Slide 12: Tangai-Sukananti KSO: History
Tangai-Sukananti KSO: History For personal use only Pertamina Era: Fields discovered in the 1990s: Tangai (1992), Sukananti (1996), Bunian (1998) Pertamina Cooper Offered by tender in 2010 Cooper Era: New approach - underdeveloped marginal field opportunities with upside potential Bunian-1 o
Slide 13: Tangai-Sukananti KSO: Prospects & Leads
Tangai-Sukananti KSO: Prospects & Leads For personal use only Multiple low cost opportunities – expected 20% IRR on development wells in South Sumatra Three un-drilled structures identified (Updip Sukananti, Updip TMB-6 and Updip Kupang) Prospective resources remain in Bunian and Sukananti Fie
Slide 14: Simple, Low Cost, Effective Facilities
Simple, Low Cost, Effective Facilities For personal use only Bunian Central Production Facility Tangai Extended Production Test Source: Cooper Energy Investor Presentation • October 2016 14
Slide 15: Existing Operations: Bunian Processing Facility
Existing Operations: Bunian Processing Facility For personal use only Source: Cooper Energy Investor Presentation • October 2016 15
Slide 16: Key Messages
Key Messages For personal use only 1. Generation of significant free cash flow at current oil pricing 2. Transformation of BAS into a SE Asia-focussed oil & gas business 3. Low-risk and low-cost development opportunities within Tangai and Bunian oil fields 4. Indonesia currently presents significant
Slide 17: Contacts
Contacts For personal use only For further information, please do not hesitate to contact: EXECUTIVE DIRECTOR INVESTOR RELATIONS Tino Guglielmo Christian Calabrese tino.guglielmo@bassoil.com.au ccalabrese@adelaideequity.com.au +61 3 9927 3000 +61 8 8232 8800 +61 407 336 668 +61 431 877 682 Investor
Slide 18: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Bass Strait Oil Company Ltd (“BAS” or the “Company”), with the purpose of providing general information about the Company. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the
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