Metgasco Ltd · ASX:MEL
Metgasco — Shareholder Meeting (December 2021)
15 slides from Metgasco's shareholder meeting presentation, Dec 9, 2021
Slide 1: Cooper Eromanga gas exploration success discovers a string of pearls
Cooper Eromanga gas exploration For personal use only success discovers a “string of pearls” ATP2021 – Three Vali gas discoveries PRL211 – Odin-1 gas L14 – Cervantes Oil discovery Exploration project Potential significant gas production hub emerging to assist east coast gas shortage Metgasco AGM 202
Slide 2: Agenda
Agenda 1 Metgasco Business Transformation For personal use only ‒2 Company snapshot ‒3 Review of Achievements in CY2021 ‒4 Cooper/ Eromanga Basin – ATP2021 & PRL211 ‒5 Perth Basin- Cervantes – L14 ‒6 Conclusions – Upcoming Investment Catalysts & why invest in MEL! ✓ 7 Disclaimer / Reserve and Prospe
Slide 3: Metgasco Business Transformation
Metgasco Business Transformation Since 2016 company transformed by building quality exploration/appraisal For personal use only portfolio in Cooper and Perth Basin. 100% success in 4 Cooper wells building gas hub reserves/resources- anticipate production revenue in mid CY22 Value 5 CY22 -Pivot to 4
Slide 4: Company snapshot
Company snapshot Metgasco’s gas exploration success allows line of sight to profitable business in mid CY22 Company overview For personal use only ▪ ASX listed energy exploration company (ASX code: MEL) Substantial shareholders & Board Glennon Capital Pty Ltd 10.50% ▪ Experienced team focused on cre
Slide 5: Achievement Summary since CY2020 AGM
Achievement Summary since CY2020 AGM Cooper Eromanga Perth Basin Corporate For personal use only ATP2021 /PRL211 L14- Cervantes ✓ April-Vali-2 appraisal well drilled - gas pay ✓ Government environmental regulatory ✓ Following Dec CY2020 AGM approval 20 in Toolachee and Patchawarra approvals signific
Slide 6: ATP2021 - Vali Field Reserves Significantly Upgraded
ATP2021- Vali Field Reserves Significantly Upgraded Three-Fold upgrade of Vali Field Gross 2P Gas Reserves to net 25.2 PJ For personal use only • An independent evaluation of the Vali field reserves was completed based on the results of the Vali-2 and Vali-3 appraisal wells • Independently evaluated
Slide 7: String of Pearls - Building a sizeable gas production hub
String of Pearls-Building a sizeable gas production hub Vali field life approx 30-40 years – 10-15MMscf/day raw gas rate For personal use only By assessing the resource upside ahead of first gas has allowed the value of the ATP2021and PRL211 assets to be optimised, with the following benefits expect
Slide 8: ATP2021 - Vali Field Gas Sales and Processing
ATP2021- Vali Field Gas Sales and Processing Gas Sales For personal use only • Heads of Agreement (HoA) signed with AGL Wholesale Gas Limited (AGL) • HoA targets parties executing a Gas Sales Agreement (GSA) by year end. • GSA gas supply term from mid 2022 until end 2026, estimated at between 9 PJ a
Slide 9: PRL211 Odin Gas Resources Significantly Upgraded
PRL211 Odin Gas Resources Significantly Upgraded • Independently certified Gross 2C Contingent Resources of 36.4 Bscf (8 Bscf net Metgasco) vs pre-drill estimates of 12.6 Bscf (2.8 net) For personal use only • Metgasco(21.25%),Vintage(operator with 42.5%) Bridgeport(21.25%) & Impress Energy(15%) • O
Slide 10: PRL211 Odin-1 Well Test Results
PRL211 Odin-1 Well Test Results • Gas Flow Rate of 6.5 MMscfd at FWHP of 1823 psi on 28/64” choke For personal use only • A production log confirmed that all perforated zones were contributing gas • A total of 26.6 metres over five intervals in the Toolachee Formation were perforated, along with 7.5
Slide 11: Perth Basin - Cervantes - L14
Perth Basin – Cervantes – L14 Potentially one of the largest undrilled oil opportunities in the Perth Basin (Gross P50 OOIP 35mmbls), with geological similarities to nearby discoveries For personal use only A A’ Exploration Key Data Country Australia Basin Perth Basin Licence L14 Western Flank Cerva
Slide 12: Perth Basin - Cervantes Oil prospect located in oil trend
Perth Basin – Cervantes Oil prospect located in oil trend Cervantes in good address for oil • Jingemia-1 intersected a 26m water bearing For personal use only good porosity sand of Kingia/High Cliff Sand(outside of structural closure) reducing the risk of sand presence in Cervantes. • Cervantes stru
Slide 13: Conclusions - Upcoming share price catalysts
Conclusions – Upcoming share price catalysts • Near term operational, corporate and macro news flows will provide a number of share For personal use only price catalysts Vali Gas Sale Agreement Execute a Gas Sales Agreement (GSA) with AGL by the end of CY21, ATP-2021 including a gas pre-payment of $
Slide 14: Conclusions - Why should you invest in Metgasco?
Conclusions -Why should you invest in Metgasco? • Metgasco represents compelling value For personal use only • Since 2016, the company has pivoted to growth while also . returning nearly $20m in cash and shares to its shareholders Metgasco’s board has “walked the walk” in prioritising total sharehol
Slide 15: Disclaimer / Reserves and Resource Notes
Disclaimer / Reserves and 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 f