Metgasco Ltd · ASX:MEL
Metgasco — Investor Presentation (May 2009)
23 slides from Metgasco's investor presentation, May 22, 2009
Slide 1: Investor Update May 2009
For personal use only Investor Update May 2009
Slide 2: Agenda
Agenda For personal use only 1. Corporate Overview 2. Australian Gas Market Fundamentals 3. Metgasco - Market Position 4. Metgasco - Looking Forward Page 2
Slide 3: Corporate Overview
For personal use only Corporate Overview Page 3
Slide 4: Corporate Overview
Corporate Overview For personal use only Corporate Financials Coal seam gas (“CSG”) and Conventional oil and gas ASX Listing Dec 2004 exploration company Focussed on Clarence Moreton basin in New South Wales Current Share Price $0.60 Multi-TCF scale CSG play with large established reserve base
Slide 5: Assets and location
Assets and location For personal use only Large acreage position in northern NSW of 6,000 km2 (gross) with operatorship Metgasco’s acreage position Gross Area (km2) PEL 16 1 830 km2 PEL 132 1,652 km2 PEL 4262 2,448 km2 Total 5,930 km2 1. In JV with CS Energy; 2. In JV with Molopo Close to market
Slide 6: Significant gas resources located in Clarence Moreton
Significant gas resources located in Clarence Moreton For personal use only A substantial CSG reserve position has been established Significant opportunity for further reserve growth : 2P reserves booked in 4 out of 11 blocks in PEL 16 represents 5-10% of total acreage covered to date rese
Slide 7: Australian Gas Market Fundamentals
For personal use only Australian Gas Market Fundamentals
Slide 8: The role of natural gas
The role of natural gas For personal use only Natural Gas will play a key role in meeting our energy needs for the future NEMMCO has forecast that new generation capacity is required in NSW and QLD Increasing use of intermittent renewables in energy mix creates demand for gas fired generation
Slide 9: CSG is a growing energy resource in Australia
CSG is a growing energy resource in Australia For personal use only Estimated 2P Reserve Position CSG production in 1996: < 1PJ /year CSG production by 2008: > 127 PJ /year Between 1997 to 2008 CSG 2P reserves have grown from 95 PJ to 12,174 PJ Total CSG resources on the east coast are estim
Slide 10: NSW and QLD market issues
NSW and QLD market issues For personal use only The Queensland market has experienced rapid growth followed by consolidation amongst its CSG operators Scale of potential resource in New South Wales is believed to be similar to Queensland CSG industry in New South Wales is emerging rapidly. Ind
Slide 11: CSG is a strategically valuable asset
CSG is a strategically valuable asset For personal use only Recent transactions highlight the value of Australian CSG assets Avg. 2P Avg. 3P Source: Brokers Report, Deloittes Independent Experts Report for Sunshine Gas and Metgasco analysis Page 11
Slide 12: Metgasco compared to its ASX listed peers
Metgasco compared to its ASX listed peers For personal use only 2P & 3P Reserves Enterprise Value/Reserves ($/GJ) Source: Metgasco, and Broker report Page 12
Slide 13: Metgasco Market Position
For personal use only Metgasco Market Position
Slide 14: A short walk in the Clarence Moreton basin
A short walk in the Clarence Moreton basin For personal use only One of the most underexplored basins on the east coast of Australia. Southern extension of the Surat basin In New South Wales, covers approximately 16,000 km² with about 10 conventional oil and gas exploration holes drilled CSG P
Slide 15: Coal seam gas: Pilot production testing
Coal seam gas Pilot production testing For personal use only Metgasco is currently running a pilot testing Flaring at Pilot Well Corella-11 program Lead pilot well (Corella-11) produced at 200,000 scf/day 1P Reserves – now achieved Demonstrated by pilot production History matching to reser
Slide 16: Coal seam gas: Proven gas reserves established
Coal seam gas Proven gas reserves established For personal use only 1P reserve certification of 2.7 Petajoules (proven, undeveloped) in PEL 16 represents important milestone and highlights the underlying value in Metgasco’s CSG acreage Commercial significance : demonstrates Metgasco has identi
Slide 17: Conventional gas – exploration upside
Conventional gas – exploration upside For personal use only PEL 16 - Leads and Prospects (OGIP estimates) Conventional exploration commencing in PMean PJ P10 PJ second half of 2009 Kingfisher (contingent resource) 41 77 Large number of leads and prospects Kingfisher (OGIP est.) 90 914 identified
Slide 18: Conventional exploration: First appraisal well
Conventional exploration First appraisal well For personal use only 13 80 5 0 0 ,0 0 0 M T R 5 0 5 ,0 0 0 M T R 5 1 0 ,0 0 0 M T R 5 1 5 ,0 0 0 M T R Kingfisher discovery – announced September 30 12 13 148 143 0 2008: 1630 0 0 128 15 80 1 23 0 Located on the Mackellar high trend 0 13 3 0 123 0 6
Slide 19: Commercialisation strategy
Commercialisation strategy For personal use only Supply Base Lions Way Gas Pipeline – Pipeline to connect gas field to customers in QLD under development: Lions Way Pipeline Lions Way pipeline – 145km pipeline starting in Casino (NSW) and finishing in Ipswich (QLD) Development of pipeline will
Slide 20: Metgasco Looking Forward
For personal use only Metgasco Looking Forward
Slide 21: Next months
Next 12 months Further drilling and infrastructure development For personal use only Activity Purpose Exploration Stratigraphic well to test coal development on and Appraisal Wyan-E1 (PEL 13) western margin of basin Advance drilling of vertical offtake for Pilot Riflebird-E15 (PEL 16) Horizontal Pro
Slide 22: Board & Management
Board & Management For personal use only Board Management Dr Peter Power – Chairman Kevin Dixon – General Manager Gas Marketing Former Managing Director of Ampolex. Past Chairman of Former Head of Strategy for Australian Pipelines Trust, 30 APPEA. years experience with ExxonMobil. David Johnson – Ma
Slide 23: Disclaimer
Disclaimer For personal use only This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco). No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information con