Metgasco Ltd · ASX:MEL
Metgasco — Shareholder Meeting (November 2018)
20 slides from Metgasco's shareholder meeting presentation, Nov 28, 2018
Slide 1: Annual General Meeting
Annual General Meeting 28 NOVEMBER 2018
Slide 2: Agenda
Agenda ‒1 Chairman and CEO’s Presentation ‒2 Disclaimer ‒3 Notice of Meeting ‒4 Meeting and Voting Procedure ‒5 Consideration of Reports ‒6 Resolutions ‒7 Poll Close ‒8 Close of Meeting ASX: MEL 2
Slide 3: Chairman and CEO's Presentation
Chairman and CEO’s Presentation ASX: MEL 3
Slide 4: Company Snapshot
Company Snapshot Metgasco is now an emerging exploration and development company Company overview Substantial shareholders & Board Keybridge Capital Limited 20.12% ▪ Experienced team focused on building value in the business M&A Advisory Pty. Ltd. 19.59% ▪ MEL is fully funded for planned 2019 drilli
Slide 5: Metgasco Business Transformation
Metgasco Business Transformation Since 2016 the company has transformed, via financial and new asset deals, to deliver a total shareholder return of >25%* Two high impact wells planned in the next 12 months 4 2018: Cooper 5 2019 and Return Basin sub- beyond: Drill 3 surface SM74: Pivot to 2017: Coop
Slide 6: Strategy and Vision
Strategy and Vision The Metgasco team is focused on continuing to deliver significant shareholder returns from current and new Exploration and Production assets ▪ Our Vision: - Generate significant long term shareholder returns - Strong and proven Capital Management focus, sustainable growth - A foc
Slide 7: Byron Energy Financial Investment Summary
Byron Energy Financial Investment Summary Strong returns and a 30% interest in the highly prospective SM74 well drilling in Q1 2019. Well designed for early production potential on success Metgasco commenced its relationship by structuring an $8m development finance facility secured over Byron’s SM-
Slide 8: Shallow GOM: Bivouac Peak - Byron Energy Farm In
Shallow GOM: Bivouac Peak - Byron Energy Farm In As announced on 11 October, Weiss Adler et al-1 well was deemed uncommercial after log evaluation. The well was efficiently drilled under-budget by operator Byron and was plugged and abandoned Exploration Key Data Country USA La Posada/La Cantera Basi
Slide 9: Shallow GOM: SM74 – Byron Energy Farm In
Shallow GOM: SM74 – Byron Energy Farm In Metgasco farmed in for a WI of 30% of Byron Energy operated SM74 block Drilling rig contracted and first exploration well planned for February 2019 Exploration Key Data Country USA Basin GOM Licence SM74 Well SM74 D-14 Farm in for 30% for funding 40% of Licen
Slide 10: ATP 2021
ATP 2021 ATP 2021 surrounded by commercial gas and oil fields – Cumulative gas prod of ~600Bcf within 20km of permit boundary ATP 2021 Vali Cum. Cum Odin Prospect Prod. Prod Prospect Field (Bcf) (mmbl) Beckler 32.4 Bow 4 Burke 55.6 Crowsnest 11 Dullingari 307 11.05 Altar Dullingari North 81 Lead Eps
Slide 11: ATP 2021 Vali Prospect Depth Maps: E-W Seismic Line
ATP 2021 Vali Prospect Depth Maps: E-W Seismic Line ➢ Vali is a robust anticline with dual primary targets of the Toolachee and Patchawarra Formations ➢ The structure has been mapped on recently acquired 2016 3D Seismic ➢ The prospect is adjacent to the principal hydrocarbon source kitchen, the Napp
Slide 12: ATP 2021 Odin Prospect Depth Maps: NW-SE
ATP 2021 Odin Prospect Depth Maps: NW-SE A A’ ➢ Odin is a robust anticline with dual gas targets at the Toolachee and Patchawarra Formations. ➢ The structure has been mapped on recently acquired 2016 3D Seismic ➢ The Toolachee Formation has independent closure with an estimated depth to target of ~2
Slide 13: ATP 2021 Strathmount-1 and Kinta-1 Reservoir Evaluation
ATP 2021 Strathmount-1 and Kinta-1 Reservoir Evaluation ➢ Strathmount -1 Well not adequately evaluated due to wellbore issues, massive washouts leading to failed tests • 21m of interpreted gas in Permian sands • Sub-standard water based drilling mud resulted in an enlarged hole • Enlarged hole led t
Slide 14: ATP 2021 Prospective Resources - Raw Gas
ATP 2021 Prospective Resources - Raw Gas Vali Prospect* Low (P90) Best (P50) High (P10) Net OGIP (Raw) Bcf 6.6 26.3 101.2 Net Recoverable Gas (Raw) Bcf 4.8 19.0 72.9 Odin Prospect* Low (P90) Best (P50) High (P10) Net OGIP (Raw) Bcf 3.8 12.0 37.8 Net Recoverable Gas (Raw) Bcf 2.7 8.7 27.2 * The Prosp
Slide 15: Cooper Basin ATP 2020: Local Fields and Discoveries
Cooper Basin ATP 2020: Local Fields and Discoveries Oil and gas fields/discoveries/shows to west, north and east - pipeline across block Tamarama 1: Cocos 1: Basin centred gas discovery Flowed Gas on test Recovered gas on test. Mt Howitt: Whanto Gas Field Cum Gas: ~1.4 Bcf Cum.Gas:~ 0.7 Bcf Online:
Slide 16: ATP 2020: Loki Lead
ATP 2020: Loki Lead Multiple exploration targets with oil and gas potential - Close to existing infrastructure Exploration Key Data Country Australia Basin Cooper/Eromanga Independent 4 way dip Licence ATP 2020 closure P90 Well Loki Lead Licence Entry QLD Government Gazettal P50 Licence Owners Metga
Slide 17: ATP 2020 Seismic Reprocessing and Planned Acquisition
ATP 2020 Seismic Reprocessing and Planned Acquisition ➢ Re-processing of 2D seismic over the Loki Lead is currently underway. ➢ Acquisition of 2D seismic is planned for 2Q 2019. ASX: MEL 17
Slide 18: Cooper Basin 2018/2019 Indicative Timeline
2018/2019 Indicative Timeline Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 MEL ATP 2021 Cooper Basin Oil & Gas Interpret 3D seismic Farm-out Land access & Drill & evaluate If discovery, process Gvt approvals develop & produce Identify prospect Well planning Land MEL ATP 2020 Cooper Basin Review l
Slide 19: Conclusions - Upcoming Investment Highlights
Conclusions - Upcoming Investment Highlights Near term operational, corporate and macro news flows will provide a number of share price catalysts CORPORATE Two more quarterly $1m Byron loan re-payments SM74 exploration well 30% MEL owned – plan to start drilling in Q1 CY 2019. Rapid tie-in USA GOM E
Slide 20: Disclaimer / Prospective Resource Notes
Disclaimer / Prospective Resource Notes ▪ This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made as to the fa