Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Shareholder Meeting (November 2008)
23 slides from Karoon Energy's shareholder meeting presentation, Nov 27, 2008
Slide 1: Karoon Gas Australia AGM Review November 2008
Karoon Gas For personal use only Australia LTD November 2008 AGM Review
Slide 2: Karoon Gas snapshot
Karoon Gas Australia Limited November 2008 AGM Review Karoon Gas snapshot For personal use only n Approximately 149 million shares and 6 million options. n Market capitalisation approximately A$340 million @A$2.30. n Cash in bank A$140 million. Peru Australia Block 112 ACP8 Offshore Onshore Maranon
Slide 3: Karoon Gas Australia's key personnel
Karoon Gas Australia Limited November 2008 AGM Review Karoon Gas Australia’s key personnel For personal use only Board Technical Robert Hosking Executive Chairman Lino Barro Engineering Manager Founding Director of Karoon Gas with 30 years of 28 years’ experience in reservoir and development commerc
Slide 4: Australian Assets
Karoon Gas Australia Limited November 2008 AGM Review Australian Assets For personal use only TIMOR ,BSPPO1FSNJU"$1 #":66/%"/ INDONESIA %"38*/ ,BSPPO1FSNJU8"1 AUSTRALIA ,BSPPO1FSNJU8"1 -/( 1-"/5 *$)5):4 NORTHERN T E R R I TO RY 50304" ,BSPPO1FSNJU Map Darwin WESTERN Area 8"1 AUSTRALIA AUSTRALIA Pert
Slide 5: Browse Basin
Karoon Gas Australia Limited November 2008 AGM Review Browse Basin For personal use only (3"$& 1UDG Argus Gas/condensate field 2tcf ? (Karoon estimate) 8"18"1 "CBMPOF ,BSPPO ,0/5*,* 1UDG $POPDP1IJMMJQT 1ISJYVT "3(64 -FBE& UDG 8"1 #VGGPO Woodside plans to spend US$20 billion on LNG development 104&*%
Slide 6: Comparisons: WA Fields Reserves v. Karoon's Exploration Prospects
Karoon Gas Australia Limited November 2008 AGM Review Darwin Comparisons For personal use only Map area WA Fields Reserves v. Karoon’s Exploration Prospects. Perth WOODSIDE’S NORTHWEST SHELF PROJECT n Allowing for some exploration success, there is potential in the Karoon acreage for the discovery o
Slide 7: Farm-out
Karoon Gas Australia Limited November 2008 AGM Review Farm-out For personal use only Karoon Gas Australia Ltd has entered into agreements to farm out up to a 60% interest in its Browse Basin permits, WA‑314‑P and WA‑315‑P to ConocoPhillips. Acquisition of 51% Interest Option to Increase Interest to
Slide 8: Schematic: indicative development model
Karoon Gas Australia Limited November 2008 AGM Review Schematic For personal use only Karoon lng/condensate/lpg indicative development model economics (assuming a discovery of 7 tcf). Field development, pipeline and LNG facilities schematic (onshore LNG option). Gas/liquid separation Refrigeration G
Slide 9: Combined net cash flow
Karoon Gas Australia Limited November 2008 AGM Review Combined net cash flow For personal use only Karoon lng/condensate/lpg indicative development model economics. Net cash flow for combined offshore liquids removal and onshore LNG – 100% Share. 4000 PRRT begins 3000 2000 Exploration & Appraisal Ne
Slide 10: Capex profile
10 Karoon Gas Australia Limited November 2008 AGM Review Capex profile For personal use only Karoon lng/condensate/lpg indicative development model economics. Karoon 40% share – 2007 US dollars 1800 1600 CAPEX (US$million – 2007) Karoon share 1400 1200 1000 800 600 Karoon 20% only for 2 appraisal we
Slide 11: Product revenues
11 Karoon Gas Australia Limited November 2008 AGM Review Product revenues For personal use only Karoon lng/condensate/lpg indicative development model economics. Product revenues for combined offshore liquids removal and onshore LNG – 100% Share. 6000 5000 Product Revenues (US$million) 4000 3000 200
Slide 12: Market Update
12 Karoon Gas Australia Limited November 2008 AGM Review Market Update For personal use only LNG SALES AGREEMENTS 2007, Woodside signed a Key Sales Terms Agreements with the Chinese for approximately 2TCF at a price of approximately A$9-10 billion per TCF for delivery over the next 20 years ex. Brow
Slide 13: AC/P8
13 Karoon Gas Australia Limited November 2008 AGM Review AC/P8 For personal use only Location: Close to the Laminaria/ $MBVEJB/8 Corallina production facility with +1%" production tie in potential. $MBVEJB Potential: Main prospect ‘Jania’ with 7JEBMJB ,VEB5BTJ'JFME up to 20mmbl potential prospective
Slide 14: Brasil Santos Basin
14 Karoon Gas Australia Limited November 2008 AGM Review Brasil Santos Basin For personal use only Location: On trend with Caravella / Merluza fields. 4"01"6-0 OGX listed in Brazil with a market cap of "UMBOUB US$20billion raising Potential: 3 main leads with 100 to 5BNCBV 1+4 US$3 billion. OGX has
Slide 15: Brasil Santos Basin
15 Karoon Gas Australia Limited November 2008 AGM Review Brasil Santos Basin For personal use only 4. 4. 4. 4. 1FUSPCSBT /PSTF /PSTF ,BSPPO Karoon acreage leads at Eocene/Oligocene &OFSHZ &OFSHZ 4. 4. 4. 4. 4. and Cretaceous levels. /PSTF &OFSHZ ,BSPPO ,BSPPO 0/($ 3FPTJL:1' Prospective Resource rang
Slide 16: Karoon Santos acreage: Santonian Play Summary
16 Karoon Gas Australia Limited November 2008 AGM Review Karoon Santos acreage For personal use only Santonian Play Summary. n The salt related structural style in the Santos Basin creates large scale structures in Karoon’s acreage where high quality Santonian Santonian reservoirs are interpreted to
Slide 17: Karoon Santos acreage: Eocene Play Summary
17 Karoon Gas Australia Limited November 2008 AGM Review Karoon Santos acreage For personal use only 1-BRSA-607A 1-BRSA-658 Eocene Play Summary. new discovery new discovery n 1-SPS-56 Eocene discovery n Preliminary analyses; Oil’s specific gravity is 36 ºAPI (light). n Lined well production test at
Slide 18: Peru Tumbes Basin Z38
18 Karoon Gas Australia Limited November 2008 AGM Review Peru Tumbes Basin Z38 For personal use only Location: Offshore Peru close to BPZ 12,000 bopd test in new pool discovery in producing fields and discoveries. Corvina Field Shell farmin to BPZ block Z1 $300million work program Mach Potential: 2
Slide 19: Peru Tumbes Basin Z38: Seismic line example
19 Karoon Gas Australia Limited November 2008 AGM Review Peru Tumbes Basin Z38 For personal use only Seismic line example. n Clear gas DHI’s with flatspot and structural fit with amplitude ratio updip to downdip of around 5 to 10 times.
Slide 20: Conclusions
20 Karoon Gas Australia Limited November 2008 AGM Review Conclusions For personal use only Australia South America n Karoon has grown rapidly in the last four years, evolving Karoon’s South American focus area work has resulted in into a company with a a world class acreage position Karoon acquiring
Slide 21: DeGolyer & MacNaughton Assessment
21 Karoon Gas Australia Limited November 2008 AGM Review DeGolyer & MacNaughton Assessment For personal use only Karoon recently engaged the services of international by application of future development projects. Prospective consulting company DeGolyer and McNaughton to provide resources have both
Slide 22: Disclaimer
22 Karoon Gas Australia Limited November 2008 AGM Review Disclaimer For personal use only This presentation has been prepared by Karoon Gas or returns contained in this presentation nor is any obligation Australia Limited for professional and sophisticated assumed to update such information. Such fo
Slide 23: Index of terms
23 Karoon Gas Australia Limited November 2008 AGM Review Index of terms For personal use only TCF: trillion standard cubic feet (1,000,000,000,000 cubic feet) Mmbls: Millions of barrels (1,000,000 barrels) Boe: Barrel of oil equivalent. A term used to combine oil and gas volumes on an energy equival
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