Lakes Blue Energy Nl · ASX:LKO
Lakes Blue Energy Nl — Lakes Oil NL — Investor Presentation (July 2019)
28 slides from Lakes Blue Energy Nl's investor presentation, Jul 15, 2019
Slide 1: Lakes Oil NL Investor Information July 2019
For personal use only Lakes Oil NL Investor Information July 2019 Chris Tonkin, Chairman Roland Sleeman, Chief Executive Officer
Slide 2: At a Glance
At a Glance For personal use only ASX Code LKO Major Assets Shares on Issue 33,354,412,661 Victoria 608 MMBOE Share Price ≈0.1 cent South Australia 10 MMBOE Market Australia’s Cap. oldest A$33m Queensland 14 MMBOE operating Shareholders Geological ≈12,000and PNG 500 MMBOE petroleum geopolitical expl
Slide 3: Board of Directors and Management
Board of Directors and Management For personal use only Chris Ian Nick Kyle Richard Tonkin Plimer Mather Wightman Ash Chairman Non-Executive Directors Roland Tim Sleeman O’Brien CEO COO
Slide 4: Diversified Portfolio
Diversified Portfolio For personal use only
Slide 5: Exploration Opportunity Immediate - 2019
For personal use only Exploration Opportunity Immediate - 2019
Slide 6: PEL 155, South Australia (Otway Basin)
PEL 155, South Australia (Otway Basin) For personal use only • Proven Hydrocarbon Province • Immediate focus is Nangwarry Prospect ➢ 57 Bcf potential recoverable gas* • Drilling rig contracted ➢ Spudding 4th quarter 2019 • Joint venture with Vintage Energy ➢ Lakes Oil is Operator • Government Grant
Slide 7: Nangwarry Prospect
For personal use only Nangwarry Prospect
Slide 8: Nangwarry – Broader Otway Significance
Nangwarry – Broader Otway Significance For personal use only Nangwarry-1 Well (approx. location) Portland Energy Project (proposed wells) Otway-1 Well (proposed) Astral-1 petroleum system, published by Geoscience Victoria, with areas of peak hydrocarbon generation shaded green.
Slide 9: Key Exploration Opportunities to year timeframe
For personal use only Key Exploration Opportunities 1 to 2 year timeframe
Slide 10: Victoria
Victoria For personal use only • Victorian Onshore Exploration moratorium ends mid 2020 • Lakes Oil is the major onshore Victorian exploration company • Prospects awaiting drilling
Slide 11: Wombat Gas Field – Gippsland Basin
Wombat Gas Field – Gippsland Basin For personal use only • Significant gas resource already demonstrated. • Wombat-5 well is ready for drilling. ➢ Lateral well targeting conventional potential of Strzelecki Formation. ➢ 10 TJ/day gas flow rate independently predicted* ➢ Government approval sought pr
Slide 12: Gippsland Basin Cross-Section
Gippsland Basin Cross-Section For personal use only
Slide 13: Proposed Wombat-5 Well
Proposed Wombat-5 Well For personal use only
Slide 14: Otway-1 Gas Well – Otway Basin
Otway-1 Gas Well – Otway Basin Conventional well ready to be drilled For personal use only • • Well targets Waarre Sandstone and Eumeralla Formation • Waarre Sandstone is basis for adjacent, historic gas production • Eumeralla Formation is known to contain and has flowed gas • Drilling approval was
Slide 15: Portland Energy Project – Otway Basin
Portland Energy Project – Otway Basin For personal use only • Massive potential – scale comparable to the Bass Strait. • All historic wells intersecting Eumeralla Formation showed gas. • Focus area identified for conventional pursuit. • Sites selected for 2 proof of concept wells.
Slide 16: Otway Basin Cross-Section
Otway Basin Cross-Section For personal use only
Slide 17: Victorian Potential
Victorian Potential* For personal use only Independently Estimated Potential Prospect Annual Total Wombat (PRL 2) 329 Bcf (2C) 20 Bcf Trifon-Gangell (PRL 2) 390 Bcf (2C) PEP 175 Focus Area ~150 Bcf >11 Tcf (P50) Otway-1 (PEP 169) 3-5 Bcf TBD TBD PRL 2 potential alone is 5 to 10% of Victorian gas dem
Slide 18: ATP1183, Queensland
ATP1183, Queensland 100% ownership For personal use only • • Proven hydrocarbon province • Multiple prospects identified* ➢ Wellesley Dome - 41 Bcf. ➢ Emu Apple North - 3.4 MMBbl. WELLESLEY DOME ➢ Bendee Prospect – 1 MMBbl. ATP ➢ Major East Lead - 13.8 Bcf. • Exploration success can be quickly monet
Slide 19: ATP1183, Queensland
ATP1183, Queensland For personal use only Permian coal and shale is source of oil and gas that is trapped in the Showgrounds reservoir, under the Snake Creek Mudstone (blue), and also in the shallower Evergreen sands
Slide 20: Wellesley Dome, ATP1183, Queensland
Wellesley Dome, ATP1183, Queensland For personal use only • Fault-bound 3-way dip closure, 4.4 km2 • 41 Bcf Prospective Gas* • South of existing productive field - easily monetised • Drilled by BHP in 1979 - good gas and porosity but not tested. • 1,650 metre well proposed at location southwest of o
Slide 21: Offshore Involvement Papua New Guinea
For personal use only Offshore Involvement Papua New Guinea
Slide 22: Papua New Guinea
Papua New Guinea For personal use only • Multiple Permits and Applications covering proven hydrocarbon producing areas • Immediate focus is PPL 560 ➢ Contains multi-Tcf Buna prospect ➢ Imminent resolution of dispute regarding tenure ➢ Farm-out discussions underway
Slide 23: Papua New Guinea – PPL
Papua New Guinea – PPL 560 For personal use only • AVO flat spots on seismic are reliable hydrocarbon indicators • Multi Tcf Potential: P50 recoverable resource of 3.3 Tcf • Free-carry farm-out under discussion
Slide 24: Reference Information: Eastern Australian Gas Market
For personal use only Reference Information Eastern Australian Gas Market
Slide 25: East Coast Australia Gas Supply and Demand
East Coast Australia Gas Supply and Demand For personal use only Source: Gas Statement of Opportunities, Australian Energy Market Operator, 2019
Slide 26: East Coast Australia Gas Pricing
East Coast Australia Gas Pricing For personal use only Outlook is for sustained high gas prices Source: Gas Statement of Opportunities, Australian Energy Market Operator, 2019
Slide 27: Sources of Information
*Sources of Information All estimates have been prepared in accordance with the Petroleum Resources Management System (‘PRMS’) established by the For personal use only Society of Petroleum Engineers (‘SPE’), 2007, and Guidelines for Application of the PRMS (SPE, 2011). All estimates are reported in
Slide 28: Disclaimer
Disclaimer For personal use only This document is not a recommendation, offer or invitation by any person to any person to sell or apply for securities in the Company and does not constitute financial product advice. The document is not a prospectus under Australian law or under any other law. It is