Strike Energy Limited · ASX:STX
Strike Energy — Excellence in Oil and Gas 2010
21 slides from Strike Energy's conference presentation, Apr 20, 2010
Slide 1: Company announcement cover letter
Strike Energy Limited ABN 59 078 012 745 20 April 2010 For personal use only The Company Announcement Officer OUR STRENGTHS Australian Securities Exchange Ltd via electronic lodgement • High margin producer • Multiple large scale growth options • Experienced team COMPANY PRESENTATION • Long term tra
Slide 2: A Year of Discovery
For personal use only A Year of Discovery Derrick O’Keeffe - Chief Operating Officer Excellence in Oil and Gas, Sydney 19-20 April 2010
Slide 3: Disclaimer & JORC Compliance Statement
DISCLAIMER & JORC COMPLIANCE STATEMENT For personal use only Disclaimer: This presentation does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security and neither this presentation nor anything contained in it shall form the basis of any contract or commitme
Slide 4: The Strike Energy Value Proposition
THE STRIKE ENERGY VALUE PROPOSITION STRIKE ENERGY For personal use only Now Gas production in the US – CASH FLOW ONSHORE GULF COAST Over next Exploration in highly prospective 3-6 months Oil and Gas province in US From Substantial exposure to Coal Seam Gas CARNARVON mid-year in Cooper Basin in Austr
Slide 5: Who We Are & What We Do
WHO WE ARE & WHAT WE DO STRIKE ENERGY For personal use only Perth based oil and gas explorer and producer with operations in the US and Australia DIRECTORS AND MANAGEMENT Company incorporated in 1997 and listed on ASX in 2004 Chairman Jeffrey Schneider Managing Director Simon Ashton Proven performer
Slide 6: Capital Structure
CAPITAL STRUCTURE STRIKE ENERGY For personal use only As at 16 April 2010 Shares on issue (ASX: STX) million 328.6 Strike Energy Limited (STX) Options on issue million 14.5 ISSUED SHARES 350 Current share price A$ 0.275 300 Market capitalisation A$ million 90.4 250 Enterprise value A$ million 85.1 2
Slide 7: Proven Performer
PROVEN PERFORMER STRIKE ENERGY For personal use only PRODUCTION PERFORMANCE FY 07 FY 08 FY 09 Gas (bcf) 0.8 1.2 3.3 Oil condensate (mbbls) 14.4 25.4 81.8 FINANCIAL PERFORMANCE AUD – in $millions Profit & Loss Production revenue 9 16 36 Total revenue 10 18 40 EBITDAX 3 7 25 Net Profit/(Loss) (9) 1 10
Slide 8: The Strike Energy Value Proposition
THE STRIKE ENERGY VALUE PROPOSITION STRIKE ENERGY For personal use only Now Gas production in the US – CASH FLOW ONSHORE GULF COAST Over next Exploration in highly prospective 3-6 months Oil and Gas province in US From mid- Substantial exposure to Coal Seam Gas year in Cooper Basin in Australia CARN
Slide 9: Production and Cash Flow United States
PRODUCTION AND CASH FLOW UNITED STATES For personal use only TWO PRODUCING FIELDS: Rayburn and Mesquite • 10 wells (STX WI 19.0 – 26.25%) • 1P Expected Ultimate Recovery: 71 BCFE (Gross) • Cumulative Production: 34 BCFE (Gross) • 1P Reserves: 37 BCFE (Gross) 8.6 BCFE (Net to STX) • Remaining explora
Slide 10: Future Discovery Potential United States
FUTURE DISCOVERY POTENTIAL UNITED STATES For personal use only EAGLEWOOD JV: BEYOND RAYBURN, MESQUITE, LOUISE STX with 30% WI Prospective Resources of +650 BCFE (gross) identified by operator for drilling +200 BCFE (Net to STX) DRILLING CONTINUES 3 well program in place to target Homestead, Pathfind
Slide 11: Exploration Opportunities
EXPLORATION OPPORTUNITIES For personal use only BCFE Onshore Gulf Coast 300 Bcfe Cumulative Bcfe 250 200 200 150 100 50 30 9 7 0 Proven Producing Prospective Prospective Exploration reserves reserves resource resource potential Current Louise Exploration Beyond Rayburn & discovery potential at Raybu
Slide 12: The Strike Energy Value Proposition
THE STRIKE ENERGY VALUE PROPOSITION STRIKE ENERGY For personal use only Now Gas production in the US – CASH FLOW ONSHORE GULF COAST Over next Exploration in highly prospective 3-6 months Oil and Gas province in US From mid- Substantial exposure to Coal Seam Gas CARNARVON year in Cooper Basin in Aust
Slide 13: Diminishing Traditional Gas Supply - Southern Cooper CSG
DIMINISHING TRADITIONAL GAS SUPPLY SOUTHERN COOPER CSG For personal use only Dominant land position along open access pipeline with spare capacity – interests in 17,000 km2 Diminishing Gas infrastructure hub for SE supply Australia Growing demand Growing energy demand Compressor station Diminishing
Slide 14: Large Scale Coal Seam Gas Opportunity
LARGE SCALE COAL SEAM GAS OPPORTUNITY SOUTHERN COOPER CSG For personal use only Focus on Coal Seam Gas (CSG) Shallowest Permian coal seam in Cooper Basin 1200m Tertiary and Cretaceous Coals 200-600m Start drilling mid year – waiting on weather and road access NW PEL 96 SE CONVENTIONAL UNCONVENTIONAL
Slide 15: The Strike Energy Value Proposition
THE STRIKE ENERGY VALUE PROPOSITION STRIKE ENERGY For personal use only Now Gas production in the US – CASH FLOW ONSHORE GULF COAST Over next Exploration in highly prospective 3-6 months Oil and Gas province in US From Substantial exposure to Coal Seam Gas CARNARVON mid-year in Cooper Basin in Austr
Slide 16: Conventional Oil and Gas - Baniyas Prospect Carnarvon Basin
CONVENTIONAL OIL AND GAS - BANIYAS PROSPECT CARNARVON BASIN For personal use only Strategic Carnarvon Basin location 47 million barrels of oil equivalent (Boe) potential STX 61% share; 28 million Boe potential Consolidating title position over Wheatstone LNG Project entire structure Macedon Project
Slide 17: Major Strategic Coal Gasification Project FuturGas
MAJOR STRATEGIC COAL GASIFICATION PROJECT FUTURGAS For personal use only RESOURCE 578 MT JORC compliant lignite resource TECHNOLOGY Ideal for gasification PRODUCTS CTL, ammonia (urea), methanol, power MARKET Close to major infrastructure; access to markets INVESTMENT OPPORTUNITY Early entry to estab
Slide 18: The Strike Energy Value Proposition
THE STRIKE ENERGY VALUE PROPOSITION STRIKE ENERGY For personal use only Now Gas production in the US – CASH FLOW ONSHORE Over next Exploration in highly prospective GULF COAST 3-6 months Oil and Gas province in US From mid- Substantial exposure to Coal Seam Gas CARNARVON year in Cooper Basin in Aust
Slide 19: Indicative Drilling Schedule
INDICATIVE DRILLING SCHEDULE TRANSFORMATIONAL POTENTIAL For personal use only 2010 Apr May Jun July Aug Sept US Onshore Gulf Coast Southern Cooper Basin US drilling could significantly multiply our US reserves by ten fold by year end Southern Cooper holds immediate potential to elevate Strike to a m
Slide 20: The Strike Energy Value Proposition
THE STRIKE ENERGY VALUE PROPOSITION STRIKE ENERGY For personal use only Active drilling Short term returns 2010 to 2011 From April……. GULF COAST 350 Bcf to be tested Build to $50 million per ONSHORE GULF annum revenue potential COAST July - October COOPER BASIN 7,000 PJ - 19,000 PJ ~$100s millions p
Slide 21: A Year of Discovery
For personal use only A Year of Discovery Derrick O’Keeffe - Chief Operating Officer Excellence in Oil and Gas, Sydney 19-20 April 2010