Bounty Oil & Gas Nl · ASX:BUY
Bounty Oil & Gas Nl — Excellence in Oil and Gas 2014
19 slides from Bounty Oil & Gas Nl's conference presentation, Mar 12, 2014
Slide 1: Bounty Oil and Gas NL – Excellence in Oil and Gas
Bounty Oil and Gas NL For personal use only Presentation to: Excellence in Oil and Gas March 11 – 12, 2014 ASX Code: BUY Philip F Kelso - CEO Cooper Basin - Drilling Utopia 14
Slide 2: Major Growth Projects with Production Base
Bounty Oil & Gas NL – Major Growth Projects with Production Base For personal use only • 2013 Calendar year oil revenue lifted to $2.6 million. • A further increase to $ 5 million will start in first quarter 2015 with commercialisation of Kiliwani North gas, Tanzania. • Oil Business strategy on trac
Slide 3: Project Action - Kiliwani North Project Tanzania
Project Action - Kiliwani North Project Tanzania 36”pipe for the East Tanzania Pipeline now under construction For personal use only 24”lateral under construction to Songo Songo Island for Kiliwani North tie in 3
Slide 4: Bounty Main Project Review
Bounty Main Project Review What are we going to review? For personal use only • Location of Projects • Issued Equity – Capital Summary • Advanced Projects with Major Upside – the way Forward 2014 – 2015 • AC/P 32 Timor Sea – Azalea Prospect • Tanzania: • Kiliwani North Gas Development • Nyuni Explor
Slide 5: Projects
Projects For personal use only • Oil and Gas Revenues $2.6 million pa increasing in 2015. • Core Exploration especially in Cooper and Surat Basin western oil fairway is pursuing low risk near field targets • High Impact exploration targeting company maker projects in Australia and Africa 5
Slide 6: Issued Equity and Capital Summary
Issued Equity and Capital Summary For personal use only ASX Code BUY As at 11-Mar-14 52 Week Price Range $0.019 to $0.011 Shares Quoted 938,400,982 Unlisted Options @ $0.032 20,000,000 ASX Closing Price $0.014 Market Capitalisation $13.1 million Net Assets $33 million 6
Slide 7: Advanced Projects with Major Upside 2014/2015
Advanced Projects with Major Upside-2014/2015 In 2014/15 Bounty will be focussing on two significant projects For personal use only AC/P 32 Timor Sea – BUY 100% • Azalea Prospect – 511 million barrels of oil in place (MMboip) with between 100 and 200 MMbo recoverable. • Bounty commitment to drill 20
Slide 8: AC/P Timor Sea - Azalea Prospect Main Points
AC/P 32 Timor Sea - Azalea Prospect Main Points For personal use only • Bounty has successfully delineated and de-risked the Azalea Prospect in AC/P 32 Timor Sea, ready for farmout • Azalea contains 511 million barrels of oil (MMbo) in place in the Puffin Sand reservoir up dip from proven oil in the
Slide 9: AC/P Azalea Prospect - Path to Development
AC/P 32 Azalea Prospect - Path to Development • Successful 500 plus million bbl oil discovery and appraisal via a two well For personal use only farmout strategy of say 49% will provide a major multiplier to Bounty’s current 1.4 cent price • Using a rule of thumb NPV of $ 20/bbl of recoverable oil,
Slide 10: AC/P Azalea Prospect Timor Sea Regional
AC/P 32 Azalea Prospect Timor Sea Regional • East Swan 1 and 2 had hydrocarbon shows in the Puffin and Plover Formations For personal use only • These were not commercial because the reservoir was breached by late stage faulting • Bounty has concentrated on defining structural/stratigraphic traps wh
Slide 11: AC/P Azalea Prospect Plan View
AC/P 32 Azalea Prospect Plan View • The high impedance (high porosity) sands (golden hues) at Azalea are much more widespread than similar sands For personal use only around Birch 1 • The lateral seals are shown where the colours change to grey then blue indicating shaling out of the sands and white
Slide 12: AC/P Azalea Prospect Seismic Section
AC/P 32 Azalea Prospect Seismic Section W E • Accoustic Impedance (left), essentially reflecting porosity in any given sand, shows that the sands at For personal use only Azalea are very similar to known high porosity sands (24%) in the Puffin Formation at Birch 1 • The up dip shale out which forms
Slide 13: AC/P Azalea Prospect Hydrocarbon Indicators
AC/P 32 Azalea Prospect Hydrocarbon Indicators • Many oil fields in the Timor Sea are associated with For personal use only shallow diagenetic zones (HRDZ) and gas accumulations related to leakage of gas along late stage faults • There is a well developed zone immediately up dip of Azalea associated
Slide 14: Nyuni – Kiliwani North Projects East Tanzania - Regional
Nyuni – Kiliwani North Projects East Tanzania - Regional • Deep water offshore Tanzania and For personal use only Mozambique has seen over 170 TCF of gas discoveries in deep water channel/fan systems related to the Rufuji and Ruvuma Deltas • Major players such as Exxon Mobil, Statoil, BG, Anadarko a
Slide 15: Kiliwani North Gas Development
Kilwani North Gas Development • Kiliwani North Lateral Pipeline. Subsea pipe laying of 24”inch line to Songo Songo Island 10% complete at For personal use only February 2014. • Footings and foundations for gas compression plant underway at end of February, 2014 (see below) • First production early 2
Slide 16: Nyuni Exploration Project
Nyuni Exploration Project For personal use only • Bounty will be producing gas for the domestic Tanzania market in 2015 from it’s Kiliwani North reserves at a net rate of 2 million cubic feet a day (364 boepd) net to Bounty for at least 7 years. • As a result Bounty is participating in a deepwater 3
Slide 17: Nyuni Project - Deep Water Targets
Nyuni Project - Deep Water Targets For personal use only • Although the seismic coverage is limited to the tails of lines in the adjacent block, the Early Cretaceous channels are clearly visible with anomalous amplitudes and possible flat spots directly up dip from the Chewa and Preza gas fields, in
Slide 18: Bounty Reserves and Resources
Bounty Reserves and Resources For personal use only Discovered MMboe Proved Producing P90 P50 P10 Utopia 0.226 0.582 1.210 Nacccowlah 0.046 0.150 0.286 Total Proved Producing 0.272 0.732 1.496 Proved Non-Producing Kiliwani North 0.820 0.820 Downlands 0.020 0.360 0.360 Reserve Categories Year on Year
Slide 19: Disclaimer/Competent Person
Disclaimer/Competent Person For personal use only This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of