Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Melbourne Mining Club (September 2014)
13 slides from Karoon Energy's conference presentation, Sep 17, 2014
Slide 1: Melbourne Mining Club Presentation
Karoon Gas Australia Ltd Melbourne Mining Club Presentation For personal use only September 2014 Queiroz Galvão ”Olinda Star” Semi Submersible Drilling Rig
Slide 2: Disclaimers
Disclaimers For personal use only - This presentation has been prepared by Karoon Gas Australia Ltd 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
Slide 3: Corporate Strategy
Corporate Strategy For personal use only The Strategy: Exploration Led Growth What Karoon looks for: - High equity interests - Early stage exploration opportunities - Large potential targets in proven petroleum systems How Karoon Creates Shareholder Value: - Geotechnical work-up of the early stage e
Slide 4: Karoon's Global Footprint
Karoon’s Global Footprint For personal use only 4
Slide 5: Corporate Overview
Corporate Overview For personal use only Overview Total Shareholder Composition - A$960 million Mkt Cap UK & Europe* - 255.8 million ordinary shares on issue United States* 4% 19% - 11 million unlisted options Asia* - A$660 million cash at bank (as at 31 3% August 2014) Corporate Australia* 11% - Me
Slide 6: Investment Highlights
Investment Highlights For personal use only - Exploration led growth strategy delivering, 78% drilling success rate (last 24 months, 9 wells) - Chasing production, Kangaroo oil discovery appraisal drilling December Quarter 2014 - Oil focused drilling inventory, 4 exploration wells targeting over 1.1
Slide 7: Drilling Inventory – Oil Opportunity
Drilling Inventory – Oil Opportunity use only Unrisked Mid Case Resource Estimate - Kangaroo-2, appraising the Kangaroo 600 light oil discovery 500 - 4 exploration wells targeting oil and a total prospective resource Best Oil (mmbbls) 400 Estimate#: For personal 300 - Net UNRISKED 1.1 Bn bbls - Net
Slide 8: Broker Valuations
Broker Valuations For personal use only Broker Valuation Estimates Consensus Broker A Broker B Broker C Broker D Broker E Broker F Broker G Santos Basin 747 819 773 622 1,250 489 840 435 Carnarvon Basin 57 22 85 209 - - 28 Tumbes Basin 98 284 86 - 160 - 53 100 Other 160 13 88 8 102 143 659 109 Cash
Slide 9: Appraisal Phase – Santos Basin
Appraisal Phase – Santos Basin For personal use only Santos Basin, Brazil - Blocks S-M-1037, 1101 , 1102, 1165, 1166 Equity Interests: Karoon 65% (Operator), Pacific Rubiales 35% Forward Plan: - 2014 Key operational objective: Kangaroo oil discovery appraisal - Drilling campaign to commence December
Slide 10: Santos Basin – Well Locations
Santos Basin – Well Locations For personal use only Internal Assessment Net Contingent Resource (Discovered) Net Un-risked Prospective Resource# (Undiscovered) Discovery / Prospect Interest Type 1C 2C 3C Low Best High Kangaroo 65% Oil (mmbbls) 7 88 317 - - - Kangaroo West 65% Oil (mmbbls) - - - 15 3
Slide 11: Exploration Pipeline – Carnarvon Basin
Exploration Pipeline – Carnarvon Basin For personal use only Carnarvon Basin, Australia – Permit WA-482-P Farmout: Equity Interests: Karoon 50%; Apache 50% (Operator) Farmed-out a 50% interest to Apache: US$9 million upfront and 90% carry in one exploration well capped at US$63 million Regional Acti
Slide 12: Carnarvon Basin – WA-482-P
Carnarvon Basin – WA-482-P For personal use only Levitt-1 (proposed) - Levitt-1 is well positioned to receive migrating hydrocarbons from the oil mature Early Jurassic source kitchen - Levitt-1 expected to be drilled during the next 2 quarters Independently Assessed Net Un-risked Prospective Resourc
Slide 13: Resource Summary – NET to Karoon
Resource Summary – NET to Karoon For personal use only The estimated quantities of petroleum that may potentially be recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development.
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