Axp Energy Limited · ASX:AXP
Axp Energy — Shareholder Meeting (November 2022)
21 slides from Axp Energy's shareholder meeting presentation, Nov 30, 2022
Slide 1: Annual General Meeting of Shareholders
ANNUAL GENERAL MEETING OF SHAREHOLDERS 9:30AM – 30 NOVEMBER 2022
Slide 2: Disclaimer
DISCLAIMER This presentation and any materials provided (the ‘Materials’) have been prepared by AXP Energy Limited (ASX:AXP, OTC US: AUNX), (‘AXP’, ‘Company’) and contains general information about AXP’s activities. By accepting the Materials you agree to be bound by the below terms and conditions.
Slide 3: Chairman's Welcome
CHAIRMAN’S WELCOME Sam Jarvis
Slide 4: Agenda
AGENDA 1. Meeting Open & Welcome 2. Chairman’s Welcome 3. CEO’s Presentation 4. Voting & Question Procedure 5. Formal Business (Notice of Meeting) 6. Consideration of Reports 7. Ordinary Business (Resolutions) a. Adoption of Remuneration Report b. Resolutions 2 – 5 8. Any Other Business 9. Poll & Me
Slide 5: CEO's Presentation
AXPENERGY CEO’S PRESENTATION Tim Hart
Slide 6: FY22 Audited Financial Results: Financial Highlights
FY22 AUDITED FINANCIAL RESULTS Financial Highlights FY22 vs FY21 Comparison (U$ ‘000) FY 2022 FY 2021 %∆ • Gross production & net sales up 214% and 227% (respectively, on a per boe basis) due to the Production - gross (mboe) Mboe 807.2 256.8 214% inclusion of a full 12 months of the Appalachian Sale
Slide 7: FY22 Financial Results: Financial Performance
FY22 FINANCIAL RESULTS Financial Performance FY22 vs FY21 NPAT Comparison (U$ ‘000) FY 2022 FY 2021 %∆ Sales revenue 20,752 4,240 389% • Sales revenue up 389% due to the new inclusions Operating costs (13,256) (3,399) -290% noted and favourable energy prices Discount on acquisiton - 6,185 G&A (4,178
Slide 8: FY22 Financial Results: Underlying NPAT
FY22 FINANCIAL RESULTS Underlying NPAT(1) Underlying NPAT Performance Reconciliation of NPAT to Underlying NPAT (U$ ‘000) FY21 vs FY22 Underlying NPAT (U$ ‘000) FY 2022 FY 2021 ∆ NPAT 607 4,065 -85% Impairment losses 147 207 29% Discount on acquisition - (6,185) Gain on disposal of assets (15) - Inc
Slide 9: Updated Reserves and Resources Assessment: Material Increase in Reserves
UPDATED RESERVES AND RESOURCES ASSESSMENT Material Increase in Reserves RESERVES CATEGORY OIL GAS NGL TOTAL • 2P Reserves increased 14% in the 9 months 1 July 2022 MMbbl Bcf MMbbl MMboe since the last reserves audit (1 October 2021) • Comprised of 29.71 billion cubic feet of Prov ed Dev eloped Produ
Slide 10: Updated Reserves and Resources Assessment: Resource Base
UPDATED RESERVES AND RESOURCES ASSESSMENT Resource Base Underpins Significant Future Value CONTINGENT RESOURCE CATEGORY OIL GAS NGL TOTAL 1 July 2022 MMbbl Bcf MMbbl MMboe Low Estimate (1C) Appalachian Basin 0.12 45.49 2.28 9.98 I llinois Basin 0.20 - - 0.20 Denv er-Julesburg Basin 46.50 461.67 - 13
Slide 11: Key Highlights for FY2022
KEY HIGHLIGHTS FOR FY2022 INCREASE RELIABILITY & CAPACITY OF DELIVERY SYSTEMS TRANSPORTATION & DEVELOPMENT • Worked with Midstream partner to implement design changes to transportation system adding booster and relocating compression system; • Continued to develop redundancy into the system by gaini
Slide 12: Short-Term Growth Drivers
SHORT-TERM GROWTH DRIVERS CONTINUED WORK WITH MIDSTREAM PROVIDER WITHIN MAIN PRODUCING AREA • Focus to minimize shrink • Enhance transport development to maximize production from existing wells • Negotiate more favorable terms for additional production development inside this area CONTINUE TO IDENTI
Slide 13: Formal Business (Notice of Meeting)
FORMAL BUSINESS (NOTICE OF MEETING Sam Jarvis
Slide 14: Voting & Question Procedure for Online Attendees
VOTING & QUESTION PROCEDURE FOR ONLINE ATTENDEES Voting Process • When the poll is open, voting will be accessible by selecting the voting icon at the top of the screen. • To vote, select the direction in which you would like to cast your vote and your selected option will change colour. • There is
Slide 15: Formal Business: Consideration of Reports
FORMAL BUSINESS CONSIDERATION OF REPORTS Agenda Item To receive and consider the Financial Report, the Directors’ Report and the Independent Auditor’s Report (the ‘Reports’) of the Company and its controlled entities, for the financial year ended 30 June 2022 (available on the Company’s website). NO
Slide 16: Resolution 1 – To Adopt the Remuneration Report
FORMAL BUSINESS RESOLUTION 1 – TO ADOPT THE REMUNERATION REPORT To Adopt the Remuneration Report To consider and, if thought fit, to pass the following as an ordinary resolution of the Company: “That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, approval is
Slide 17: Resolution 2 – Election of Director
FORMAL BUSINESS RESOLUTION 2 – ELECTION OF DIRECTOR Election of Director – Mr. Stuart Middleton To consider and, if thought fit, to pass the following as an ordinary resolution of the Company: “That, for the purpose of clause 14.4 of the Constitution, ASX Listing Rule 14.4 and for all other purposes
Slide 18: Resolution 3 – Election of Director
FORMAL BUSINESS RESOLUTION 3 – ELECTION OF DIRECTOR Election of Director – Mr. Simon Johnson To consider and, if thought fit, to pass the following as an ordinary resolution of the Company: “That, for the purpose of clause 14.4 of the Constitution, ASX Listing Rule 14.4 and for all other purposes, M
Slide 19: Resolution 4 – Replacement of Constitution
FORMAL BUSINESS RESOLUTION 4 – REPLACEMENT OF CONSITUTION Replacement of Constitution To consider and, if thought fit, to pass the following as an ordinary resolution of the Company: “That, for the purposes of section 136(2) of the Corporations Act and for all other purposes, approval is given for t
Slide 20: Resolution 5 – Approval of 10% Placement Capacity
FORMAL BUSINESS RESOLUTION 5 – APPROVAL OF 10% PLACEMENT CAPACITY Approval of 10% Placement Capacity To consider and, if thought fit, to pass the following as an ordinary resolution of the Company: “That, for the purposes of ASX Listing Rule 7.1A and for all other purposes, approval is given for the
Slide 21: Meeting & Poll Close
AXPENERGY MEETING & POLL CLOSE