Melbana Energy Limited · ASX:MAY
Melbana Energy — Investor Presentation (July 2017)
23 slides from Melbana Energy's investor presentation, Jul 18, 2017
Slide 1: Investor Update: Material Drilling Imminent
For personal use only Investor Update: Material Drilling Imminent July 2017
Slide 2: Disclaimer: Forward-looking Statements and Resources
Disclaimer For personal use only Forward-looking Statements and Resources Summary of information: This presentation contains general and background information about Melbana Energy’s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise
Slide 3: Summary
Summary Cuba For personal use only USA • Block 9 exploration potential increased 50% to ~12.5 billion barrels of oil-in-place with recoverable Prospective USA Resources of 637 million barrels (100% share, unrisked Best Estimate)* Cuba Block 9 • High graded Alameda-1 prospect presents an opportunity
Slide 4: Corporate Snapshot
Corporate Snapshot Capital Structure Share Price For personal use only 5 20 Share price (as at 14/7/17) A$0.014 Shares on issue 953.2m 4 Volume 15 Options 13.25m 3 Millions Cents 10 Share Performance Rights 26.3m 2 Market Capitalisation ~A$13m 5 1 Cash (30 June 2017) ~A$2.6m 0 - Debt A$0m Jul 16 Sep
Slide 5: Cuba
For personal use only Cuba 5
Slide 6: Cuba Block – An Overview
Cuba Block 9 – An Overview Block 9 PSC For personal use only • Multi-billion barrel potential • 100%* interest in Block 9 PSC (2,380km2 or 588,000 acres) located onshore in Cuba • 25 year term (awarded in 2015) • Exploration sub periods: • 1 (Sept 2015 to Nov 2017) – studies and seismic reprocessing
Slide 7: Cuba Block – An Oil Rich Region
Cuba Block 9 – An Oil Rich Region Cuba Prospectivity and Market For personal use only • Represents under-explored south-eastern margin of the Gulf of Mexico - one of the world’s great petroleum mega provinces • Limited application of modern exploration techniques due to 50+ year US embargo • Cuba cu
Slide 8: Cuba Block – Resource Assessment
Cuba Block 9 – Resource Assessment Exploration potential for over 12 billion barrels of oil-in-place For personal use only • Exploration potential increased 50% to over Boca de Canasi- Bacuranao Jaruco P. Escondido Yumuri- 12.5 billion barrels of oil-in-place and Seboruco Varadero Majaguillar Prospe
Slide 9: Cuba Block – Leads in Conventional Play
Cuba Block 9 – 19 Leads in Conventional Play Priority drill targets identified – Alameda, Zapato & Piedra For personal use only Block 10 (Sherritt 100%) drilling exploration well, results expected Q3 2017 9
Slide 10: Cuba Block – Alameda Prospect
Cuba Block 9 – Alameda Prospect Multi-target exploration drilling opportunity close to historic oil recoveries For personal use only • Primary objective in depth range from 3,000 to 3,700 metres • Marti-5 (drilled 1988) recovered lighter oil (24°API) and had oil shows over a 850 metre gross interval
Slide 11: Cuba Block – High Potential Zapato Prospect
Cuba Block 9 – High Potential Zapato Prospect Multiple structures with hundred million barrel exploration potential For personal use only • Zapato Prospect is a large structure targeting fractured carbonate objective • Close to the shallower Motembo oil field which historically produced high quality
Slide 12: Australia and New Zealand
For personal use only Australia and New Zealand
Slide 13: Onshore New Zealand – PEP51153 Overview
Onshore New Zealand – PEP51153 Overview • Melbana has 30% interest in PEP51153, operated For personal use only by TAG Oil Ltd (“TAG” 70%), located onshore in New Zealand <10km east of TAG’s producing Cheal Puka PEP 51153 field Waihapa • Independent expert values TAG’s 2P reserves in Cheal nearby fie
Slide 14: Onshore New Zealand – Pukatea-1 (Melbana 30%)
Onshore New Zealand – Pukatea-1 (Melbana 30%) High impact Pukatea prospect to commence drilling in mid-October For personal use only • Prospective resources estimated to range from 1.3 to 40 million barrels (Low-High estimates, 100% share) • Targeting a highly productive conventional reservoir in th
Slide 15: Australia – WA-488-P & the Beehive Prospect
Australia – WA-488-P & the Beehive Prospect Beehive - One of the largest undrilled hydrocarbon structures in Australia For personal use only • Beehive is a significant, multi billion barrel oil Darwin prospect located on WA-488-P • Beehive Prospective Resources estimated to PETREL range from 97 to 2
Slide 16: Australia – Beehive Prospect
Australia – Beehive Prospect Beehive – a feature of enormous scale For personal use only • Located in ~40 metres water depth • Target depth 4,000 – 4,500m • Prospect reservoir is an isolated carbonate platform of Carboniferous age. • Enormous feature: – Carbonate platform is 18km across (approx. sam
Slide 17: Corporate & Activity Pipeline
For personal use only Corporate & Activity Pipeline
Slide 18: Investment Highlights
Investment Highlights Cuba For personal use only ✓ Only ASX listed company with Cuban energy exposure ✓ Block 9 exploration potential increased 50% to >12 billion barrels of oil-in-place & Prospective Resources of >600 million barrels (unrisked Best Estimate, 100% share)* ✓ Priority drill targets id
Slide 19: Melbana Summary
Melbana Summary Multiple near term catalysts to support a significant re-rating For personal use only NEW ZEALAND • Pukatea-1 drilling commencing mid-Oct 2017 PEP51153 • Civil works commenced, rig secured • Result anticipated before end 2017 • High leverage and near term production in success case C
Slide 20: For personal use only
For personal use only Peter Stickland Managing Director & CEO Melbana Energy Limited L15, 500 Collins Street Melbourne VIC 3000 Australia Ph: +61 3 8625 6000 Email: admin@melbana.com www.melbana.com
Slide 21: Northern Australia Acreage and Projects
Northern Australia Acreage and Projects DILI Discrete upstream projects adjacent to proven hydrocarbons For personal use only ABADI GREATER SUNRISE BAROSSA Kupang Kupang EVANS SHOAL Joint Petroleum BLACKWOOD CALDITA Development HERON Area BAYU-UNDAN Tassie Shoal Projects Concept TSMP2 TSM
Slide 22: Tassie Shoal Projects (Melbana 100%)
Tassie Shoal Projects (Melbana 100%) For personal use only Shallow water, innovative low cost development paths for regional stranded gas • Region has substantial undeveloped high CO2 gas that needs a low cost development solution • Methanol manufacturing uses gas with high CO2 (up to 30%) as feedst
Slide 23: AC/P50 & AC/P51 (Melbana 100%): Multiple oil targets
AC/P50 & AC/P51 (Melbana100%*): Multiple oil targets Melbana fully carried through 3D seismic reprocessing For personal use only • Identified material Ramble On and Jur’maker oil prospects in proven petroleum system defined on modern 3D seismic data • Suitable for lower cost jack-up drilling rig • P