Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Shareholder Meeting (November 2009)
24 slides from Bass Oil's shareholder meeting presentation, Nov 24, 2009
Slide 1: AGM 24 November 2009
For personal use only AGM 24 November 2009
Slide 2: Clear Exploration Focus on Southeast Australia
Clear Exploration Focus Bese STRAT on Southeast Australia (0) @ Strong permit position; hb excellent leverage to high-impact discovery potential. Oil for Australians @ Coherent, focussed portfolio across three productive basins. bs oe cmaa, @ Offshore drilling & seismic operations experience since 2
Slide 3: Directors and Management
DIRECTORS AND MANAGEMENT For personal use only ¾ John McInnes OAM, Chairman – BComm, FCA, chartered accountant and company director ¾ Andrew Adams, Managing Director – BSc, MBA, former Amoco Canada and Santos executive, member of APPEA Exploration Committee ¾ Dr Henry Askin, Director – former Shell
Slide 4: Corporate Status – Capital Raising Completed
CORPORATE STATUS – CAPITAL RAISING COMPLETED For personal use only – 155,450,953 ordinary shares before October 2009 raising – 103,633,970 issued @ 3 cents 30Oct09 via rights issue – 31,945,327 issued @ 3 cents 30Oct09 via placement – 291,030,250 current ordinary shares on issue – Over $4 million ra
Slide 5: Bass Strait Oil Company Ltd – Permit Interests
BASS STRAIT OIL COMPANY LTD – PERMIT INTERESTS 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 Otway Basin PEP167 – 50%
Slide 6: Onshore Otway Basin – BAS Acreage
ONSHORE OTWAY BASIN – BAS ACREAGE For personal use only • $2 million farmout to Interra Resources to cover cost of PEP 167 Windermere 3D seismic plus other costs. • BAS retains 50% and operatorship. • Interra is new to Australia and is experienced in similar plays in its Asian interests • PEP 167 co
Slide 7: Windermere 3D Seismic Location
WINDERMERE 3D SEISMIC LOCATION For personal use only • Late January 2010 scheduled for recording operations in the field • Over 40 sq km of 3D seismic coverage. • Expected cost approximately $1.8 million • Survey area comprises mostly open grazing country with some tree plantations
Slide 8: PEP167: Windermere-1 Oil Appraisal 3D Seismic
PEP167: WINDERMERE-1 OIL APPRAISAL 3D SEISMIC • 3D survey objective to For personal use only define extent of Windermere oil discovery in order to optimise location and design of possible appraisal well • Windermere-1: ¾ drilled in 1987 ¾ recovered 32 bbls oils ¾ likely wellbore damage • Technical r
Slide 9: BAS - Gippsland Basin Acreage
BAS - GIPPSLAND BASIN ACREAGE For personal use only
Slide 10: VIC/P47: Offshore Gippsland Basin
VIC/P47: OFFSHORE GIPPSLAND BASIN For personal use only •Farmout discussions continuing •Renewal offer accepted, grant pending •Existing gas discoveries at Judith and Moby with nearby infrastructure •Longtom gas field (Nexus) now on production is analogue for Judith - both Emperor Sub Group reservoi
Slide 11: Independent Resource Certification
INDEPENDENT RESOURCE CERTIFICATION Gaffney Cline Associates For personal use only GIIP bcf EUR bcf Low Best High Low Best High Judith-1 Contingent 87.8 298.1 1245.6 48.3 193.7 934.2 TDS-1 Prospective 24.3 156.8 479.7 13.3 101.9 359.8 Judith South Prospective 5.7 25.8 172.5 3.2 16.8 129.4 Potential J
Slide 12: Judith South/Judith Block – SW to NE Traverse
JUDITH SOUTH/JUDITH BLOCK – SW to NE TRAVERSE Judith South Judith-1 For personal use only WSW Judith-1 ENE
Slide 13: VIC/P41: Prospects and Leads
VIC/P41: PROSPECTS AND LEADS For personal use only 3D-defined, high-impact prospects Kipling, analogous to Kipper field P50: 124 MMbbls +620 Bcf Benchley, GB and Halibut targets P50: 184 MMbbls + 1.4 Tcf Oscar, analogous to Basker/Manta P50 combined total - 40 MMbbls Oscar 3D (Unrisked, 100% volum
Slide 14: Kipper / Kipling AVO Response
KIPPER / KIPLING AVO RESPONSE For personal use only KIPPER FIELD KIPLING PROSPECT
Slide 15: Deep Water Leads – Eastern Area
DEEP WATER LEADS – EASTERN AREA S N For personal use only Golden Beach feature on Rosedale Fault trend Seismic amplitude anomalies Potentially large structure Lies in ca 600 metres water LEAD A
Slide 16: VIC/P66: Gippsland Basin Extension Play
VIC/P66: GIPPSLAND BASIN EXTENSION PLAY For personal use only Vic/P66 •BAS – 60% & operator •No wells & sparse seismic control •Possible extensions of Vic/P41 plays and leads (e.g. Lead A) •Year 1 of permit, building data base
Slide 17: VIC/P42: Prospects & Leads
VIC/P42: PROSPECTS & LEADS For personal use only Renewal complete - BAS 100% and operator Zane Grey and Omeo discoveries Renewal area fully covered by 3D seismic Seismic data sets to be reprocessed
Slide 18: VIC/P42: Tarra Southeast and Tarra North
VIC/P42: TARRA Southeast and TARRA North For personal use only TARRA PROSPECTS • 3D defined Top Latrobe features Tarra SE • Closures mapped on Downthrown both upthrown and downthrown fault blocks (Tarra SE) • ‘Stacked pay’ potential Seismic Traverse • Dolphin Field analogue Tarra SE Upthrown 0 5km
Slide 19: VIC/P42: Tarra SE & Dolphin Field Analogue
VIC/P42: TARRA SE & DOLPHIN FIELD ANALOGUE For personal use only Top Latrobe Tarra SE Dolphin Field 24 MMbbls Prospect Dolphin Field
Slide 20: Bass Basin Acreage – BAS 100% and operator
BASS BASIN ACREAGE – BAS 100% and operator For personal use only T/42P & T/43P - total 6,120 sq km capturing much of the Durroon Sub basin play Under explored area with one well, limited 2D seismic. New 2D seismic acquired and older vintage data reprocessed in 2008. Favourably located - infr
Slide 21: Bass Basin Acreage – Regional Setting
BASS BASIN ACREAGE – REGIONAL SETTING For personal use only Major NW/SE structure evident on depth to basement map Bark, Anderson & Boobyalla Troughs untested Durroon SB source “kitchens” Presence of reservoirs and access to hydrocarbon charge probable based on studies
Slide 22: Bass Basin Acreage – Summary of Recent Results
BASS BASIN ACREAGE – BAS 100% and operator Summary of recent results: For personal use only • petroleum ‘kitchen’ areas have the potential to have generated large volumes of oil and gas • an inventory of large prospects defined on high quality data with a number of play types • short and direct migr
Slide 23: Clear Exploration Focus on Southeast Australia
Clear Exploration Focus Bese STRAT on Southeast Australia (0) @ Strong permit position; hb excellent leverage to high-impact discovery potential. Oil for Australians @ Coherent, focussed portfolio across three productive basins. bs oe cmaa, @ Offshore drilling & seismic operations experience since 2
Slide 24: Disclaimer
DISCLAIMER For personal use only 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 invitation to subscribe for or purchase any securities in the
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