Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — Non-Deal Roadshow (September 2012)
22 slides from Melbana Energy's roadshow presentation, September 2012
Slide 1: Investor Update UK-European Roadshow
Investor Update UK-European Roadshow September 10th - 14th, 2012
Slide 2: 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
Slide 3: Corporate snapshot
Corporate snapshot SE Asian focus – 3 high impact well results during 4Q Ticker symbols (ASX / OTCQX) MEO MEOAY Share Price (ASX: MEO) (7 Sept) A $0.20 Issued shares (million) 539.9 Issued options ($0.50 ex) (million) 18.9 Market Capitalisation (million) A $108 Cash & Cash Equivalents (30-Jun) A $55
Slide 4: Board, executives & key technical personnel
Board, executives & key technical personnel New board & executive management 2008, technical expansion 2010-11 Board of Directors Executive Team Snr Technical Team Nicholas Heath (Chairman) Ken Hendrick (Implementation Mgr) Errol Johnstone (Chief Geologist) • Chemical Engineer, 30 year international
Slide 5: Core business strategy
Core business strategy Creating high value optionality by leveraging technical skills Secure Acreage • Seek high equity at low entry cost - Proven basins with over-looked potential • Add technical value Add Value - Invest in 3D seismic to define prospects • Farm out to fund drilling - Recover invest
Slide 6: Significant portfolio expansion from late 2010
Significant portfolio expansion from late 2010 Diversity in geography, play type and hydrocarbon product 20,000 10 Permits/PSCs 9 18,000 16,000 Gulf of Thailand (G2/48) 14,000 North Sumatra 12,000 (Seruway PSC) Net Area(km2) South Madura PSC 5 10,000 4 Permits 8,000 Bonaparte Gulf (WA-454-P) 3 6,000
Slide 7: 2012 Drilling Activity
2012 Drilling Activity 3 high impact, high equity well results in 4Q Gulf of Thailand Sainampueng-1 10-27 MMstb 50%, Q4 Arun LNG North Sumatra Gurame SE-1X 500 Bcf, 57 MMbbl, Bontang LNG 100%,October East Java Bonaparte Basin Tassie Shoal LNG & Methanol Ashmore Cartier Darwin LNG Heron South-1 Bonap
Slide 8: Bonaparte Basin Regional Activity
Bonaparte Basin Regional Activity Well positioned acreage near significant development activity Greater Sunrise (Woodside) Abadi (INPEX), 2.5 MTA FLNG 4.0 MTA FLNG (MEO 50%) FEED underway FID: Unspecified Bayu-Undan (ConocoPhillips) 3.7 MTA LNG (Darwin) Commenced Liquids Prod 2004 Browse (Woodside)
Slide 9: Tassie Shoal Projects
Tassie Shoal Projects A regional solution for economically stranded, remote, high CO2 gas • Environmental approvals in place • Assigned Major Project Facilitation Status • Methanol: 2 of 1.75MTA plants – Built in two stages (TSMP1 & TMSP2) – Consumes up to 25% CO2 in raw gas stream – EoI’s received
Slide 10: Well #1: Heron South-1 (50%) - underway
Well #1: Heron South-1 (50%) - underway 5 Tcf potential LNG scale prospective gas resource* Heron-2 Heron-1 Heron South-1 Eni Acquisition: Sea Floor >US$130m/Tcf Pliocene Miocene Blackwood area: Cretaceous ~1-2 Tcf prospective Vee Formation Wangarlu Formation Re-structuring post Flamingo SK E&S Farm
Slide 11: South East Asia Regional Context
South East Asia Regional Context Targeting proven basins or analogues to proven basins Bangkok • Historically a gas exporting region − LNG infrastructure now under-utilised G2/48 • Growth in demand and declining production has inflated gas prices • MEO acreage in Manora (Mubadala) Oil development −
Slide 12: Well #2: Gurame SE-1X (100%) - October
Well #2: Gurame SE-1X (100%) - October Targeting gas in optimal location to achieve commercial gas flow A-2 A-1 G-1X Idi North Gurame SE-1X (proposed) (proj.) (proj.)(proj.) (proj.) Gurame SE-1X targeting: • structure updip of known oil – expecting gas cap • 500 Bcf gas & 57 MMstb liquids* • Natural
Slide 13: Well #3: Gulf of Thailand G2/48 - Sainampueng-1
Well #3: Gulf of Thailand G2/48 (50%) - Q4 Sainampueng-1 targeting 10 – 27 MMstb* oil BANGKOK Bangkok Pudnabad THAILAND THAILAND Prospect Sainampueng Rayong 3D Strong Lead NW Seismic Survey B Lead Concession Boundary 450 km2 (4Q’11) Hua Hin Basin A Manora Sainampueng development with Kri
Slide 14: Planned 2013 Farmout Activity
Planned 2013 Farmout Activity Seeking to recover back costs and achieve financial carry through drilling Gulf of Thailand Arun LNG North Sumatra Bontang LNG East Java Bonaparte Basin Tassie Shoal LNG & Methanol Ashmore Cartier Darwin LNG Bonaparte Gulf Exploration Planned 2013 Farmouts Carnarvon Bas
Slide 15: WA-454-P (100%) strategically located
WA-454-P (100%) strategically located Features Marina oil & gas discovery and nearby Breakwater prospect Marina gas and oil discovery 98 - 302 Bcf gas / 6.5 – 29.5 MMstb liquids* Greater Sunrise (Woodside) Abadi (INPEX), 2.5 MTA FLNG 4.0 MTA FLNG (MEO 50%) FEED underway FID: Unspecified Tassie Shoal
Slide 16: Marina gas and probable oil discovery
Marina-1 Well MDT Pressure Data Interpretation (Zone 1 Gas Cap and Oil Leg - P50 Case) Marina gas and probable oil discovery 2540 2580 2620 2660 2700 2740 2780 Pressure ( 2820 2 Contingent resources: 98–302 Bcf gas + 5–22 MMstb oil (Mean-P10) 1820 Oil Gradient=1.162psi/m Lower Permian GR RES D/N DT
Slide 17: Breakwater prospect
Breakwater prospect Multi-Tcf gas prospect with potential for 40-200 MMstb oil (Mean-P10) A Breakwater South East compartment (Floyd 3D) B B Same amplitude cut-off as Western compartment SALT A Potential for Near A4 TWT structure map deeper plays Un-Risked Prospective Resources (Recoverable) * Gas o
Slide 18: Vulcan Sub Basin (100%) Regional Context
Vulcan Sub Basin (100%) Regional Context New Seismic acquired in AC/P50, AC/P51 & AC/P53 AC/P50 Lead Top ultimate A seal B Top Potential closure Greater Sunrise (Woodside) reservoir height 4.0 MTA FLNG (MEO 50%) or seal? 250-300m FID: Unspecified Possible flat spot? Candidate sag Cash/Maple (PTTEP)
Slide 19: Seruway PSC (100%) – Ibu Horst 3D
Seruway PSC (100%) – Ibu Horst 3D Identified significant structural closure updip of ONS B-1 ‘discovery’ ONS B-1 N S W E (projected) NG C TERIPANG Amplitude Anomaly at GURAME Seurula ALEM LEMURU (similar anomaly contained gas at NSO-2N) SALEM NGSA ONS B-1 well recovered ~14 MMCFD GOS GLAGAH KUALA LA
Slide 20: Seruway PSC (100%) – Ibu Horst 3D
Seruway PSC (100%) – Ibu Horst 3D Revealed potential extent of deep carbonate clipped by NSO-2N NWW NSO-2N SE SW NSO-2N E NE (projected (projected) NG C FIT recovered gas TERIPANG from amplitude anomaly in Seurula GURAME formation ALEM LEMURU SALEM NSO-2N intersected edge NGSA of deep carbonate. Log
Slide 21: Drilling exposure & cost recovery strategy
Drilling exposure & cost recovery strategy Cash reserves to cover current drilling, 2013 farmouts to fund future activity Drilling Costs MEO Cost Location (Permit) Equity Well Target resource (100%)+ Cost Recovery Strategy (US$ m) Bonaparte (NT/P68) 50% Heron South-1 5 Tcf $0 Fully carried by Eni, w
Slide 22: Summary
Summary High level of activity to continue into 2013 • Significant leverage to 2012 drilling program outcomes − Net 2.5 Tcf mean raw prospective gas resources for potential LNG (Heron South-1) − Net 500 Bcf mean raw prospective gas resources for Domgas/LNG (Gurame SE-1X) − Net 5 – 13.5 MMstb mean pr