Bounty Oil & Gas Nl · ASX:BUY
Bounty Oil & Gas Nl — Shareholder Meeting (November 2018)
19 slides from Bounty Oil & Gas Nl's shareholder meeting presentation, Nov 27, 2018
Slide 1: Bounty Oil and Gas NL Annual General Meeting
Bounty Oil and Gas NL Annual General Meeting November 27, 2018 CEO Presentation ASX Code: BUY Philip Kelso - CEO Drilling Jarrar 5, Naccowlah
Slide 2: Disclaimer/Competent Person
Disclaimer/Competent Person This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables which could
Slide 3: ASX Listing Rules – Chapter 5 Reserves and Resources
ASX Listing Rules – Chapter 5 Reserves and Resources ASX LISTING RULES 5.25 – 5.45 • All Bounty Oil & Gas NL (Bounty) petroleum Reserves and Resources assessments follow guidelines set forth by the Society of Petroleum Engineers – Petroleum Resource Management System (SPE-PRMS). Bounty is compliant
Slide 4: 2017/18 Highlights
2017/18 Highlights Corporate • Petroleum Revenue $1.57 million (2017 $2.39 million) • 2019 Oil revenue anticipated to reach $2.6 million as new Naccowlah Wells come online • New pipelines to carry additional Naccowlah Oil to Jackson and Port Bonython • Cash and current assets at 30 June 2018 - $2.48
Slide 5: Bounty 2018 Oil Production
Bounty 2018 Oil Production Bounty Daily Production bopd 140.00 120.00 Naccowlah bopd 100.00 80.00 Boepd 60.00 40.00 20.00 0.00 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 5
Slide 6: Bounty Projects
Bounty Projects Way Forward: Leveraging current production revenue into low risk development on 100% 6 controlled lands
Slide 7: What we are going to discuss
What we are going to discuss Production and Development Naccowlah (2%) – Late 2018 – 2019 program totalling 13 wells, 83% success so far Downlands (100%) – Native Title claim cleared, renewal being finalised, field was producing ~45 boepd at 2010 shut in PL 2- Alton (100%) – 200,000 bbls of possible
Slide 8: Naccowlah Block - Jarrar 5 Discovery November 2018
Naccowlah Block - Jarrar 5 Discovery November 2018 8
Slide 9: Naccowlah – SW Qld. Development/Appraisal and NFE Drilling
Naccowlah – SW Qld. Development/Appraisal and NFE Drilling • Rising oil prices have driven new development and near field exploration drilling at Naccowlah . A total of 14 wells to be drilled in 2018/19. • Development/Appraisal wells Irtalie E 6, Watkins 2 & 3, Jarrar 4 & 5,Cooroo NW2 were all succe
Slide 10: Bounty Surat Basin QLD - Strategy
Bounty Surat Basin QLD - Strategy Southern Surat Basin QLD - a focus area for oil/condensate and gas. Bounty operator and has full control to contain costs and ensure profitability Start small scale with proven reserves and work upward Alton in PL2 ideal candidate, instant production available, sign
Slide 11: Downlands PL441 – Lease renewal imminent - Shut in Gasfield
Downlands PL441 – Lease renewal imminent - Shut in Gasfield PL441 Native Title Claim cleared, lease renewal imminent Field shut-in in December 2010 as production pipeline was repurposed. Downlands 2 was flowing 310,000 scfg/d at closure with no noticeable decline. Intermittent production of small vo
Slide 12: Downlands PL441 - Oil Leg
Downlands PL441 - Oil Leg • Proposed to re-open Downlands 3 as part of a programme to re-develop the oil leg at Downlands 12which previous workers had estimated could contain as much as 300,000 bbls P50 recoverable oil.
Slide 13: Bounty Southern Surat Basin Permits PL2 ATP2028P
Bounty Southern Surat Basin Permits PL2 ATP2028P 13
Slide 14: PL2 Alton Oilfield - Recommence Production
PL2 Alton Oilfield - Recommence Production • Alton 1 and 3 have oil above what is possibly the current OWC in the A, B and D sands, ready for immediate production • The western part of the field has small areas of possible un swept oil in the A and B sands and attic oil in the D sand • In excess of
Slide 15: PL2 Alton Oilfield D Sand Attic Appraisal Target
PL2 Alton Oilfield D Sand Attic Appraisal Target • D sand is the best reservoir in the field and forms a channel striking NS along the eastern side of the structure • North of Alton 1, 3 and 8 is a well developed attic in the D Sand which could contain 160,000 bbls recoverable oil • This will be pur
Slide 16: PL2B Eluanbrook Updip Appraisal
PL2B Eluanbrook Updip Appraisal • Eluanbrook 1 intersected only poor reservoir above the OWC, but perforated across the OWC; on production the good porosity and high permeability sands produced, watering the well out. • New 2D seismic has closely defined an updip low risk location - Propose to drill
Slide 17: Bounty Development Appraisal Target Summary
Bounty Development Appraisal Target Summary 2P, 2C or P50 Resources mbbls Project Proven Contingent Prospective Notes Alton 48* 168 Contingent on Drilling Eluanbrook Updip 186 Contingent on Reservoir Mardi Boxvale 210 Exploration Prospect Downlands Oil 340 Contingent on Engineering Spring Grove 346
Slide 18: AC/P 32 Timor Sea - Azalea Prospect Overview - Main Points
AC/P 32 Timor Sea - Azalea Prospect Overview - Main Points Bounty has successfully delineated and de-risked the Azalea Prospect , ready for farmout Azalea contains potential 500 million barrels of oil (MMbo) in place in the Puffin Sand reservoir up dip from proven oil in the well Birch 1 Bounty cons
Slide 19: Summary
Summary 2019 Gross Oil revenue to be leveraged into 6-8 Naccowlah Wells and Surat Basin low risk development and appraisal opportunities, targeting ~1,000,000 bbl Contingent Resources Pursuing 100 – 200 Mmbo recoverable oil play at Azalea Prospect (AC/P 32) 19
Bounty Oil & Gas NL — Shareholder Meeting (November 2018) on 6ix