Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Investor Presentation (September 2011)
22 slides from Bass Oil's investor presentation, Sep 8, 2011
Slide 1: Investor Presentation – September 2011
For personal use only Investor Presentation – September 2011
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by Bass Strait Oil Company Ltd (“BAS” or the “Company”), with the purpose of providing general information about the Company. It should not be considered as an offer or For personal use only invitation to subscribe for or purchase any securities in the
Slide 3: Bass Strait Oil Company Ltd – Vision
BASS STRAIT OIL COMPANY LTD – VISION For personal use only • Bass Strait Oil Company Ltd (ASX code: BAS) is a specialist, technically-driven, petroleum explorer currently focused exclusively on southeast Australia. • BAS has a 2 pronged strategy: – Tight to unconventional petroleum onshore – Convent
Slide 4: Highlights
HIGHLIGHTS Oil exploration in prospective Southeast Australia permits For personal use only two pronged strategy – tight to unconventional petroleum onshore, conventional to tight petroleum offshore Windermere-3 well results expected November 2011 Windermere oil project in the onshore Otway Basin (P
Slide 5: Capital Raising
CAPITAL RAISING For personal use only Underwritten 1:3 non renounceable rights issue at 2.5 cents per share to raise gross proceeds of A$2.4 million Offer closing Friday, 7th October 2011 Rights issue proceeds, along with existing cash of ~A$2.1 million, to be used for: Windermere-3 drilling A$1.6m
Slide 6: Directors and Management
DIRECTORS AND MANAGEMENT For personal use only John McInnes OAM, Non-Executive Chairman – BComm, FCA; chartered accountant and experienced company director Dr Henry Askin, Non-Executive Director – BSc (Hon) PhD; former Shell Australia Exploration Manager, Chairman Central Petroleum Ltd John Tuohy, N
Slide 7: Corporate Information (post capital raising)
CORPORATE INFORMATION (post capital raising) For personal use only ASX code: BAS 388,040,333 ordinary shares Total shareholders approximately 2,225 Top 20 shareholders hold ~ 40% Cash on hand ~ A$4.5 million Market capitalisation ~ A$11 million
Slide 8: Balanced Portfolio of Opportunities
BALANCED PORTFOLIO OF OPPORTUNITIES For personal use only APPRAISAL EXPLORATION FRONTIER PORTFOLIO – 40% PORTFOLIO – 40% PORTFOLIO – 20% VIC/P47 VIC/P41 T/42P & T/43P -Judith -Kipling -Duroon Sub-basin VIC/P42 -Benchley VIC/P66 -Zane Grey -Oscar -East Gippsland -Omeo VIC/P42 PEP 167 -Tara -Windermer
Slide 9: Bass Strait Oil Company Ltd – Permits
BASS STRAIT OIL COMPANY LTD – PERMITS For personal use only TOTAL ACREAGE ca 14,000 sq km IN THREE PRODUCTIVE BASINS Gippsland Basin VIC/P41 – 45% operator VIC/P42 – 100% operator VIC/P47 – 40% operator VIC/P66 – 60% operator Bass Basin T/42P & T/43P – 100% operator T/L1 – ORR (0.0648%) Otway Basin
Slide 10: Onshore Otway Basin
ONSHORE OTWAY BASIN For personal use only • PEP 167 contains Windermere-1 oil discovery, PEP150 contains Lindon oil discovery (permit pending native title) • Area offers excellent access and infrastructure indicating good economics for oil development • PEP 167 50%/50% JV with Interra Resources • PE
Slide 11: Windermere Oil Project
WINDERMERE OIL PROJECT (Bass: 50%) Windermere-1: drilled in 1987 For personal use only recovered 32 bbls oil on DST but nothing on production likely wellbore damage • Technical review indicates good potential for commercial flow rates • Anticipate drilling Windermere-3 (as twin to W-1) in 4th Quarte
Slide 12: For personal use only
For personal use only • 3D interpretation shows Windermere-1 is structurally separate from Windermere-2 at oil reservoir level and explains oil migration into Windermere-1 and not Windermere-2
Slide 13: Offshore Gippsland Basin
OFFSHORE GIPPSLAND BASIN For personal use only
Slide 14: VIC/P47: Appraisal & Prospects
VIC/P47: APPRAISAL & PROSPECTS (Bass: 40%) •Continuing farmout interest For personal use only •Existing gas discoveries at Judith and Moby with nearby infrastructure •Judith: GCA certified contingent resources 2C – 194 Bcf; 3C – 934 Bcf; prospective recoverable P10 – ~800 Bcf. Judith- 1 drilled late
Slide 15: VIC/P47: Appraisal & Prospects
VIC/P47: APPRAISAL & PROSPECTS For personal use only Judith-1 Zone of gas shows in Judith- Judith-1
Slide 16: VIC/P41: Prospects & Leads
VIC/P41: PROSPECTS & LEADS (Bass: 45%) For personal use only 3D-defined, high-impact prospects with prospective resources Kipling, analogous to Kipper field P50: 320 Bcf + 15 mmbbls P10: 1 Tcf + 50 mmbbls Benchley, analogous to Kipper field P50: 800 Bcf + 40 mmbbls P10: 3 Tcf + 150 mmbbls Oscar 3D O
Slide 17: VIC/P66: Exploration Concepts
VIC/P66: EXPLORATION CONCEPTS (Bass: 60%) For personal use only Northern Platform Lead A Underexplored East Gippsland play Zone of Primary Interest Lead A (P10 prospective resource: ~600 Bcf recoverable) defined on 2D in 10 km west of permit Basement High East Gippsland Rise Recently completed basin
Slide 18: VIC/P42: Prospects & Leads
VIC/P42: PROSPECTS & LEADS (Bass: 100%) For personal use only Zane Grey and Omeo discoveries Renewal area fully covered by 3D seismic Seismic data sets to be reprocessed
Slide 19: Offshore Bass Basin
For personal use only OFFSHORE BASS BASIN
Slide 20: T/42P & T/43P: Prospects and Leads
T/42P & T/43P: PROSPECTS AND LEADS (Bass: 100%) For personal use only T/42P & T/43P - total 6,120 sq km Under explored Durroon Sub basin play New 2D seismic and basin modelling show large prospects plus hydrocarbon ‘kitchens’ Favourably located - infra structure and growth markets, in water depth <
Slide 21: Short Term Forward Program
SHORT TERM FORWARD PROGRAM For personal use only 4Q 1Q 2011 2012 OTWAY BASIN PEP 167 Drill Windermere-3 GIPPSLAND BASIN Vic/P41 Renew Permit Vic/P42 3D Seismic Reprocessing Vic/P47 3D Seismic Reprocessing Vic/P66 2D Seismic Acquisition * BASS BASIN T/42P Renew Permit T/43P Renew Permit * - subject t
Slide 22: Summary
SUMMARY For personal use only Balanced permit position: excellent leverage to high impact discovery potential Coherent focused portfolio across three productive basins Offshore drilling and seismic operations since 2000 New round of industry activity in the region Low-cost, low-risk jurisdiction wit
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