Triangle Energy (global) Limited · ASX:TEG
Triangle Energy (global) — RIU Good Oil Conference 2017
20 slides from Triangle Energy (global)'s conference presentation, Sep 13, 2017
Slide 1: Consolidating and expanding on opportunities in the Perth Basin
Consolidating and expanding on opportunities in the Perth Basin RIU Good Oil Conference Darren Bromley Executive Director/CFO/Company Secretary 13 September 2017
Slide 2: Disclaimer and Forward Looking Statements
DISCLAIMER AND FORWARD LOOKING STATEMENTS ▪ This Presentation is provided on the basis that Triangle Energy (Global) Limited (“Triangle” or the “Company”) nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any repre
Slide 3: Clearly Defined Growth Strategy
CLEARLY DEFINED GROWTH STRATEGY Triangle has positioned itself to become a lead player in the resurgence of interest in the Perth Basin ▪ Strong, predictable cash flows laying a solid foundation for growth strategy ▪ Operator and majority interest (78.75%) in the crude oil producing Cliff Head Oil F
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT Capital Structure and Key Metrics Operating Metrics ASX Code TEG 1,204 bopd (YTD average) Daily Production (78.75% TEG 950 bopd) Shares on issue1 167.1 million Unlisted options on Net Reserves5 2P Reserves - 2.7 MMstb 6 million issue exc @ 0.06, exp 29 March 2019 Share price1 $0.1
Slide 5: Cliff Head Oil Field
CLIFF HEAD OIL FIELD Predictable, strong production rates and cash flow generation Location • ~290kms north of Perth • WA-31-L Offshore Perth Basin, Western Australia • 10km offshore in 15-20m of water Facilities • Unmanned offshore platform connected by 14km pipelines to the Arrowsmith onshore faci
Slide 6: Cliff Head - Arrowsmith Facility
CLIFF HEAD - ARROWSMITH FACILITY The only operational oil processing facility in the highly prospective and underexplored Perth Basin Route to market • Cliff Head crude is pumped to the Arrowsmith facility which has processing capacity for up to 15,000 bopd • Produced water is treated and re-injecte
Slide 7: Cliff Head – Exploration Upside & Growth
CLIFF HEAD – EXPLORATION UPSIDE & GROWTH EOR and near-field resources could materially enhance the value of Cliff Head Enhanced Oil Recovery (EOR) • EOR holds potential for greater flow rates, field recoveries for relatively modest capital expenditure Mentelle prospect • 1 successful exploration wel
Slide 8: Xanadu-1 - Drilling Commenced
XANADU-1 - DRILLING COMMENCED W E Location • TP/15 Offshore Perth Basin Western Australia (14kms SSE of Cliff Head Oil Field and Arrowsmith Processing Facilities) Joint Venture • Triangle 40% to earn 30% (Drilling) Drilling Interest • Norwest Energy NL 0% to earn 25% (Operator) • 3C Group 40% to ear
Slide 9: Xanadu-1 JV – Structural Comparison
XANADU-1 JV – STRUCTURAL COMPARISON * Refer NWE announcement 29 October 2014 9
Slide 10: Xanadu-1 / Arrowsmith Proximity
XANADU-1 / ARROWSMITH PROXIMITY Arrowsmith Production Facility Cliff Head Oil Field Xanadu 1 10
Slide 11: Reids Dome PL 231 - Unlocking Asset Value
REIDS DOME PL 231 - UNLOCKING ASSET VALUE QLD Conventional Gas appraisal asset with multiple hydrocarbon bearing horizons Location • PL 231, Denison Trough, Bowen Basin, south-east Queensland • Conventional gas project discovered in the 1950s Interest • 21.3% interest in PL 231 via a post IPO intere
Slide 12: Reids Dome PL 231 - State Gas Ltd IPO
REIDS DOME PL 231 - STATE GAS LTD IPO* Investment Environment • Supply constraints in the east coast gas market. Ideal time for Triangle to unlock value of PL 231 State Gas Ltd IPO • IPO to subscribe for 26,250,000 shares at $0.20 per share to raise $5.25M • Post successful IPO, State Gas will be va
Slide 13: Reids Dome PL 231 - State Gas IPO
REIDS DOME PL 231 - State Gas IPO* Primary Target • Shallow, conventional gas in Cattle Creek Formation, marine sandstone source rock (shallow as 130M) Major Secondary Target • The underlying Reids Dome beds are anticipated to be at least 2,770 metres thick and have not been fully penetrated in the
Slide 14: Key Catalysts
KEY CATALYSTS Re-rating of Triangle’s Equity Valuation via multiple company-specific, sector and macro catalysts • Operating Costs - ongoing cost reductions – July 2016 USD 44/bbl currently running at USD 29.5/bbl • Resources - targeting in-field and near-field resources • Enhance Oil Recovery (EOR)
Slide 15: Strategic Partnerships
STRATEGIC PARTNERSHIPS Leverage strong relationships with partners to expand portfolio in areas of interest Strategic alliance with Tamarind Management provides world- class industry capability and depth strategically, commercially and technically Joint Venture partnership with Norwest Energy NL pro
Slide 16: Experienced Board
EXPERIENCED BOARD Edward Farrell Non-Executive Chairman ▪ Over 25 years’ experience in international financial markets, including broking and corporate finance ▪ Founder of a consultancy services business ▪ Held directorships with multiple public and private companies ▪ Fellow of the National Instit
Slide 17: Summary
SUMMARY ✓ Majority 78.75% interest and Operator of the Cliff Head Oil Field ✓ The Cliff Head Platform (CHP) is the only offshore facility and the Arrowsmith Stabilisation Plant (ASP) is the only onshore crude oil facility operating in the Perth Basin ✓ ASP has the capacity to service third party cru
Slide 18: Triangle Energy Limited (ASX:TEG) contact details
Triangle Energy Limited (ASX:TEG) Unit 7 589 Stirling Highway Cottesloe WA 6911 Australia E: info@triangleenergy.com.au T: +61 8 9286 8300 | F: +61 8 9385 5184 | W: www.triangleenergy.com.au
Slide 19: Appendices
APPENDICES TriangleEnergy
Slide 20: Defined Terms
DEFINED TERMS ▪ “$” means Australian dollars, unless otherwise stated ▪ “B” or “b” prefix means billion ▪ “bbl/s” means barrel/s ▪ “bopd” or “boepd” means barrels of oil per day and barrels of oil equivalent per day, respectively ▪ “boe” means barrels of oil equivalent. Triangle reports boe using a
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