Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Q1 FY19 Earnings Presentation
15 slides from Amplitude Energy's earnings presentation, Oct 15, 2018
Slide 1: First quarter update conference call
Sole-3 Flow-back 6 July 2018 Sole-3 flow-back 6 July 2018 Seven Sole-4 Oceans tree subsea Pipelay Vessel at Crib Point, September 2018 deployment First quarter update conference call 15 October 2018
Slide 2: Conference call details
Conference call details 2:30 pm AEDT Monday 15 October. Recording available at www.cooperenergy.com.au from 10:00 am Tuesday 16 October. Conference ID 7181305 Australia Toll-free 1800 123 296 Australia Toll: +61 2 8038 5221 (can be used if dialing from international location) International toll free
Slide 3: Important Notice – Disclaimer
Important Notice – Disclaimer This investor presentation (“Presentation”) is issued by Cooper Energy Limited ABN 93 096 170 295 (“Cooper Energy” or “COE”). Summary information: This Presentation contains summary information about Cooper Energy and its activities as at the date of this Presentation a
Slide 4: Q1 FY18 Main features
Q1 FY18 Main features Increased revenue and production, new gas contracts, Sole within schedule and budget • Sales revenue up 7% on June quarter and up 51% on pcp • Strong cash flow from higher gas volumes, prices and oil margins • Production up 6% on June quarter and down 14% on pcp • New gas contr
Slide 5: Q1 Financial
Q1 Financial Production, sales revenue up; Sole achieves critical milestone $ million unless specified otherwise Change on prior qtr Change on Sept qtr 18 Prior qtr Jun18 PCP qtr Sept 17 % pcp % Sales Sales revenue 21.8 20.4 14.4 7% 51% Average realised oil price AUD/bbl 113.65 102.57 63.25 11% 80%
Slide 6: Q1 FY18 production
Q1 FY18 production Uplift from Casino Henry workover Gas production Gas production by field Crude oil & condensate production PJ by quarter PJ by quarter ‘000 bbl by quarter 76.64 2.11 71.81 1.88 66.93 64.08 62.52 1.75 0.25 1.67 Minerva 1.50 0.28 1.63 Casino Henry 1.40 Sep-17 Dec-18 Mar-18 Jun-18 Se
Slide 7: Sole Gas Project
Sole Gas Project 74% complete end-September Drilling & well completion • Drilling workstream completed, Sole-3 & Sole-4 awaiting connection to the subsea pipeline • Sole-4 flowback completed successfully on 5 August • Lab analysis of gas confirmed H2S 1,000 ppm, well within plant design, in line wit
Slide 8: Sole Gas Project: current operations
Sole Gas Project: current operations 22 km of pipelay completed by Subsea7. Welded pipe stalks awaiting spooling at Crib Point Seven Oceans spooling pipe at Crib Point prior to lay of first section 8
Slide 9: Exploration and development
Exploration and development Advancing exploration and development plans and engaging rig contractors to determine availability and timing. Henry-2 sidetrack 1 • To produce 24 PJ undeveloped reserves (net to Cooper Energy) • Targeting initial production uplift of ~20 TJ/day gross • Front end engineer
Slide 10: Exploration: Otway Basin offshore
Exploration: Otway Basin offshore Proven gas province with infrastructure in place and close to markets A A’ A A’ • Several prospects on trend with producing fields high graded as potential candidates for 2020 drilling campaign • Easily defined 3-way structural traps • Completed 3D seismic inversion
Slide 11: Gas marketing
Gas marketing CY19 gas contracting completed at current market prices after competitive tender. 119 PJ of uncontracted 2P reserves still available to market 2P gas reserve supply profile Uncontracted contracted & uncontracted PJ pa Contracted FY19 fully contracted: GSA’s with Origin & O-I 12 11 11 1
Slide 12: Update summary
Update summary 1. Strong September quarter, revenue growth and cash flow New gas contracts, increased gas volumes and higher oil prices. 2. Sole past critical milestones, under budget with start up in ~ 9 months Wells completed, proven with performance and composition better than plant design Offsho
Slide 13: First quarter update conference call
Sole-3 Flow-back 6 July 2018 Sole-3 flow-back 6 July 2018 Sole-4 subsea Seven Oceanstree deployment Pipelay Vessel at Crib Point, September 2018 First quarter update conference call 15 October 2018
Slide 14: Appendices
thd wr) OOPER NERGY Mm Appendices
Slide 15: Profile of contracted and uncontracted gas by project
Profile of contracted and uncontracted gas by project Existing reserves and resources offer growth over 6 years before exploration upside Gas sales profile by project Manta uncontracted contracted & uncontracted Manta contracted PJ pa Sole uncontracted Sole contracted Otway uncontracted Manta Otway