Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Euroz Hartleys Institutional Conference 2021
21 slides from Amplitude Energy's conference presentation, Mar 10, 2021
Slide 1: Developing gas for southern Australia
For personal use only Developing gas for southern Australia Euroz Hartleys Institutional Conference 10 March 2021
Slide 2: Strategically located gas portfolio; southern gas shortfalls; projects align
For personal use only 1. Strategically located gas portfolio 2. Southern gas shortfalls 3. Gas projects align with forecast shortfalls Cover: Cooper Energy’s Athena Gas Plant Otway coastline, Pt Fairy, Victoria
Slide 3: A material gas portfolio ideally located for southern markets
A material gas portfolio ideally located for southern markets… For personal use only Strategically positioned close to infrastructure and customers 2P gas reserves: 296 PJ1 58 Cooper Basin • Oil and condensate production • 1.6 MMboe 2P reserves1 • Callawonga-13 horizontal well in PEL 92 spudded 4-Ma
Slide 4: Gas supply shortages are forecast to grow
…as gas supply shortages are forecast to grow… For personal use only By 2024, southern gas production expected to lag demand by 113 PJ (~5x annual Sole production) Forecast southern1 gas demand and production Surplus / (shortfall) in southern production relative to demand PJ PJ 500 40 A material gas
Slide 5: Reliance on gas from Queensland continues to increase
…and reliance on gas from Queensland continues to increase For personal use only Pipeline capacity an imminent constraint on winter gas supply from Queensland TJ/day South West Queensland Pipeline Flows (QSN Link)1 404TJ/day pipeline 400 capacity constraint during winter Queensland gas 300 flow sout
Slide 6: Cooper Energy gas projects align with supply shortage outlook
Cooper Energy gas projects align with supply shortage outlook For personal use only Targeting drilling for OP3D and Manta late CY2022 / early CY2023 Value Chain: Explore Develop Construct Operate Project: Phase: ASSESS SELECT DEVELOP EXECUTE OPERATE Upcoming catalysts FEED FID • Production ramp-up S
Slide 7: Sole production stabilising with improving OGPP performance
Sole production stabilising with improving OGPP performance For personal use only APA and Cooper Energy focused on reaching planned production rate of 68 TJ/day TJ/day 70 Targeted OGPP production rate (68 TJ/day) • All customer nominations met since start of GSAs on 1 December 2020 and 1 January 202
Slide 8: Athena Gas Plant Project
Athena Gas Plant Project For personal use only Increasing margins, free cash flow generation, gas processing capacity and flexibility The opportunity Execute Phase underway • Low-cost processing hub for Casino • Commenced October 2020 Henry and new discoveries • Targeting first gas in Q1 FY22 • Owne
Slide 9: Otway Phase Development Project (OP3D)
Otway Phase 3 Development Project (OP3D) For personal use only Developing Henry-3 and Annie-2 via the Athena Gas Plant OP3D indicative development concept • Potential drilling of Henry-3 and Annie-2 in the second half of CY2022, subject to FID and joint venture approval • Currently in Select phase;
Slide 10: Manta
Manta For personal use only Manta-3 appraisal well a follow-on Gippsland development to Sole Manta indicative development concept Manta Contingent Resource1 estimate 1C 2C 3C Gas PJ 78 121 190 Condensate MMbbl 2.2 3.4 5.4 • Development concept utilises existing infrastructure at Sole and Patricia Ba
Slide 11: Opportunities in place for growing gas reserves
Opportunities in place for growing gas reserves For personal use only Clear pathway for new discoveries and converting contingent and prospective resources into reserves1 ➢ A broadening pipeline of exploration, appraisal and development opportunities Exploration ➢ Project timings align with forecast
Slide 12: Net zero carbon emissions for FY20
Net zero carbon emissions for FY20 For personal use only Pursuing partnerships and emission reductions for long-term net zero carbon objectives • In partnership with Greening Australia and BioDiverse Coorong Biodiversity Project Carbon and their Coorong Biodiversity Project • Environmental plantings
Slide 13: Wrap up
Wrap up For personal use only Step-change in gas production underway with southern supply shortages forecast to grow ✓ Challenged gas market fundamentals with increasing supply deficits forecast – southern markets particularly challenged ✓ Cooper Energy uniquely positioned for supply of gas to south
Slide 14: Appendix
For personal use only Appendix Otway coastline, Pt Fairy, Victoria
Slide 15: H1 FY21 results: Demonstrated progress during a challenging period
H1 FY21 results: Demonstrated progress during a challenging period For personal use only Transition Agreement with APA underpins step-change growth in 2021 Production (MMboe) • OGPP reconfiguration enabled commencement of Sole GSAs Transition +82% Agreement signed • APA and Cooper Energy focussed on
Slide 16: H1 FY21 headline financial metrics
H1 FY21 headline financial metrics For personal use only Transition Agreement costs reflected in H1 FY21 results $ million unless indicated H1 FY20 H1 FY21 Change • Gas revenue up 53% to $43.6 million from increased Sole production Production (MMboe) 0.66 1.20 ▲ 82% • Oil and condensate revenue down
Slide 17: FY21 production and sales volume guidance
FY21 production and sales volume guidance For personal use only Improving OGPP performance and Sole GSAs underpin step-change in production and sales volumes FY21 production guidance: 2.7 – 2.9 MMboe FY21 sales volumes guidance: 2.9 – 3.1 MMboe 2.9 – 3.1 MMboe 2.7 – 2.9 MMboe +75 - 85% +90 - 100% H2
Slide 18: FY21 capital expenditure guidance
FY21 capital expenditure guidance For personal use only Progressing development and exploration growth projects FY21 capital expenditure: $45 – 50 million (Prior guidance: $50 – 58 million1) Cooper Basin By category H1 FY20 FY212 • Horizontal oil development well in the Exploration 1.8 Up to 5 Calla
Slide 19: Debt facility
Debt facility For personal use only Deleveraging to commence in Q3 FY21; targeting facility adjustments by end FY21 $ million 250 • Reserves-based lending facility 200 • $250 million limit plus $15 million working capital facility 150 • First principal repayment due in March 2021 ($4.5 million) 100
Slide 20: Abbreviations
Abbreviations For personal use only $ Australian dollars PPL Petroleum Production Licence APA APA Group (ASX: APA) PRL Petroleum Retention Lease bbl Barrels scf Standard cubic feet of gas Bcf Billion cubic feet of gas TJ Terajoules bopd Barrels of oil per day YTD Year to date Cooper Energy Cooper En
Slide 21: Disclaimer
Disclaimer For personal use only This presentation may contain forward looking statements, including statements of current intention, statements of opinion and expectations regarding Cooper Energy’s present and future operations, possible future events and future financial prospects. Such statements
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