Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Shareholder Meeting (November 2018)
20 slides from Vintage Energy's shareholder meeting presentation, Nov 27, 2018
Slide 1: Vintage Energy Ltd AGM Presentation
For personal use only Vintage Energy Ltd AGM Presentation 27 November 2018 Reg Nelson | Chairman Neil Gibbins | Managing Director For Information: info@vintageenergy.com.au www.vintageenergy.com.au
Slide 2: Disclaimer
Disclaimer For personal use only This presentation has been prepared by Vintage Energy Limited (Vintage or the “Company”), with the purpose of providing general information about the Company. This presentation contains certain statements which may constitute “forward- looking statements”. Such state
Slide 3: Contents
Contents For personal use only Reg Nelson - Chairman 1. Overview 2. Achievements to date 3. Investment thematic 4. Our asset strategy Neil Gibbins – Managing Director 5. Value creation focus 6. Assets 1. Galilee Basin 2. Otway Basin 3. Bonaparte Basin 7. Strategy for sustainable growth 8. FY19 timel
Slide 4: Reg Nelson – Chairman
Reg Nelson – Chairman For personal use only 4
Slide 5: Vintage Energy - Overview
1. Vintage Energy - Overview For personal use only Vision • To be a well respected, financially strong, growth-focused energy company Strategy • Take advantage of energy market dynamics • Acquire, explore and develop gas focused assets principally within Australia • Maintain a lean corporate structu
Slide 6: Achievements to date
2. Achievements to date For personal use only Galilee Otway Bonaparte Successful Basin Basin Basin IPO • Albany-1 drilled • Low cost entry • Low cost entry • Oversubscribed and flowed gas • PACE grant • 100% equity $30 million IPO at 230 Mscfd awarded to drill position @ 20 cps • 2C contingent Nangw
Slide 7: Investment thematic
3. Investment thematic For personal use only Supply crisis in East Coast gas market − Ramp-up of gas supply to export LNG markets − Adverse state govt policies on exploration Fracture stimulation and exploration moratoria − Accelerated decline in traditional gas sources Underinvestment during
Slide 8: Our asset strategy
4. Our asset strategy For personal use only We are focused on: Commercial 1. Taking advantage of the Eastern Australian gas crisis; and Market 2. Looking for potential onshore supply oil production We will focus on assets that: Offer expeditious Gas quality commercialisation on attractive terms;
Slide 9: Neil Gibbins – Managing Director
Neil Gibbins – Managing Director For personal use only 9
Slide 10: Value creation focus
5. Value creation focus For personal use only • Permits close to industrial, • Onshore permits with gas commercial and retail exposure and oil potential markets • Albany-1 success with gas • Assist in bridging gas flowing to surface shortage gap Gas focus East coast and oil gas market potential Lean
Slide 11: Assets
6. Assets For personal use only Portfolio build well underway, with a number of opportunities under consideration 11
Slide 12: Assets
6. Assets For personal use only Galilee Basin Otway Basin Bonaparte Basin - Farming-in for 30% PEL 155 - 100% equity - Albany-1 drilled - 50% equity - Proven petroleum system - Flowed gas at 230 Mscfd - Nangwarry-1 to be drilled - Multiple play types - Albany-2, Albany-1/ST1 PEP 171 - Hydrocarbon sh
Slide 13: Galilee Basin – ATPs 743, 744, 1015 (Deeps)
6.1 Galilee Basin – ATPs 743, 744, 1015 (“Deeps”) For personal use only Vintage 15% (earning up to 30%), Comet Ridge 85% and operator Vintage to fund 50% of $10 million program to earn additional 15% Stage 2 seismic program − 2D seismic survey expanded to 300-420 km (previously 275 km) − Expec
Slide 14: Galilee Basin – Market opportunities
6.1 Galilee Basin – Market opportunities For personal use only Adjacent to proposed mines and coal seam gas projects Power to nearby Accessible to Gladstone and hubs mines powering local industry and cities Jemena feasibility assessment considering extending the NGP to the Appraise in quick ti
Slide 15: Otway Basin – PEL and PEP
6.2 Otway Basin – PEL 155 and PEP 171 For personal use only PEL 155 (SA) Vintage 50%, Otway Energy 50% and operator $4.95 million SA Govt PACE Gas Grant received Nangwarry-1 expected to be drilled in FY19 − Adjacent to Haselgrove discovery Nangwarry-1 Prospective Resource* − 57 Bcf (Gross) b
Slide 16: Bonaparte Basin – EP
6.3 Bonaparte Basin – EP 126 For personal use only Vintage 100%; low cost entry Sales and purchase agreement with Beach − Transfer conditional upon NT Govt approval Large 6,700 km2 permit in an underexplored frontier region Onshore Bonaparte wells have flowed gas Multiple play types Poss
Slide 17: Strategy for sustainable growth
7. Strategy for sustainable growth For personal use only 1. 2. 3. 4. 5. Operational, Asset Corporate Balanced Portfolio commercial acquisitions opportunities portfolio optimisation focus and farm-ins 1. In-house operational and commercial expertise with a highly successful track record 2. Evaluation
Slide 18: FY19 timeline
8. FY19 timeline For personal use only 2018 2019 Q1 Q2 Q3 Q4 Albany-1 Airborne Albany-1 geophysical flow test survey Successful IPO Galilee 2D seismic Albany-2, Nangwarry-1 Albany-1/ST1 Forward work plan and costs1 Item Units FY19 FY20 Total Completed Wells no. 2 4 7 JV approved 3D Seismic km2 120 1
Slide 19: Summary
9. Summary For personal use only The time is right to take advantage of energy market dynamics Quality acreage position acquired expeditiously − Drill ready prospects with a clear pathway to development if successful Continue to acquire, explore and develop gas focused assets, with oil potenti
Slide 20: For information
For information For personal use only info@vintageenergy.com.au www.vintageenergy.com.au 20