Slide 1: Production pathway to deliver new gas source to undersupplied east coast energy market
Production pathway to deliver new gas source to undersupplied east coast energy market Odin gas discovery 36 Bcf (Gross) Vali gas field Contingent Resources, GSA with AGL for up to 16PJ, Metgasco share 8.77 Bcf 101PJ (Gross) 2P reserves, Capital Raising Presentation Metgasco share 25.2PJ 11 October
Slide 2: Agenda
Agenda 1 Reasons to Invest in Metgasco ‒2 Pathway to Production Revenue ‒3 Business Strategy – Multi Fuels Low Emissions Producer ‒4 Metgasco Uncontracted Gas Position & Undersupplied Energy market ‒5 Capital Raising Overview and Timeline ‒6 Cooper/ Eromanga Basin Summary– ATP2021 & PRL211 ‒7 Patrio
Slide 3: Metgasco: Four Key Reasons to Invest
Metgasco : Four Key Reasons to Invest ▪ Metgasco is starting gas supply to Eastern Australia from the Vali field in December CY22 , generating maiden revenue ▪ Late stage of Vali project execution provides confidence of first gas delivery ▪ Metgasco has uncontracted gas connected to, or close to, ex
Slide 4: Pathway to Production Revenue on Vali and Odin
Pathway to Production Revenue on Vali and Odin Commercialisation of Vali represents the culmination of a long process of value creation by Metgasco, from initial application for ATP2021, technical appraisal, farm-out and, with our partners, a highly successful exploration drilling program. Stimulati
Slide 5: Strategy - CY23 Multi-fuel low emissions gas producer
Strategy- CY23 Multi- fuel low emissions gas producer Cooper/Eromanga Basin • 30+ year Cooper Gas Production Hub – to self fund ongoing basin E&P , assist the potential growth of a renewable hydrogen business and deliver sustained shareholder dividends Production revenue to assist future new BD oppo
Slide 6: Delivering a sustainable carbon net zero future
Delivering a sustainable carbon net zero future Metgasco’s goal is to diversify into a leading low emissions multi-fuel producer . The Patriot deal delivers this opportunity in the near term for a modest phased investment ➢ Metgasco Limited (MEL) has agreed to a staged acquisition of Patriot Hydroge
Slide 7: Significant uncontracted gas reserves and resources
Significant uncontracted gas reserves and resources Vali VALI - 2P GROSS RESERVES(MEL 25%) AGL: base AGL: upside Uncontracted ▪ AGL contract provides for sale of estimated 9 PJ – 16 PJ from Vali to end-2026 9 PJ ▪ Total contract quantity only represents 9% to 7 PJ 16% of current 2P reserves of 101PJ
Slide 8: Undersupplied East Coast Australia Gas Market
Undersupplied East Coast Australia Gas Market ▪ ACCC analysis suggests a significant shortfall in supply from ▪ Global LNG prices affecting domestic gas prices developed 2P reserves from 2023 onwards ▪ Winter 2022 spot prices have risen sharply in recent months1 ▪ Metgasco can deliver value by lever
Slide 9: Capital Raising
Capital Raising • Share Placement of circa $2.7 million at an issue price $0.02 • Issue price: ➢ representing a discount of 20.0% on the closing price of Metgasco on 6 October 2022 ➢ representing a discount of 23.3% on the 30-day VWAP of Metgasco to 6 October 2022 • Placement will be issued in 2 tra
Slide 10: Use of Funds
Use of Funds Long lead items and project planning on Odin field $0.45M Renewable energy projects $0.75M Completion of activities on Vali Gas project $1.50M Total $2.70M ASX: MEL 10
Slide 11: Share Placement Timeline
Share Placement Timeline* Announcement of Share Placement Tuesday 11 October 2022 Lodgement of appendix 3B Tuesday 11 October 2022 Placement settlement - Tranche 1 Tuesday 18 October 2022 Placement allotment - Tranche 1 Wednesday 19 October 2022 Shareholder meeting to approve (Tranche 2) November 20
Slide 12: Share Capital Structure
Share Capital Structure Current ordinary shares on issue 930,002,677 Shares issued via placement 135,125,402 Total ordinary shares on issue post capital raising 1,065,128,079 Entitlement Offer Options (3.1 cents, expiry 31 December 2022) 58,442,091 Underwriter Options (3.1 cents, expiry 31 December
Slide 13: ATP2021 Vali Farm-out to production in less than 4 years
ATP2021 Vali Farm-out to production in less than 4 years Vali Field independently assessed -Gross 2P Gas Reserves of 101PJ 2019: Metgasco farms out 75% of ATP 2021 to ▪ Cooper Basin specialists Vintage/ Bridgeport ▪ Farm-out allows Metgasco free carry on Vali-1 2020: Vali-1 gas discovery and flow te
Slide 14: PRL211 Odin-1 gas discovery ready for production
PRL211 Odin-1 gas discovery ready for production • Uncontracted Gross 2C Contingent Resources of 36.4 Bcf* (8.77 Bcf* net Metgasco) attracting customer enquiries into East Coast markets • Metgasco(25%),Vintage(operator with 50%), Bridgeport(25%) • Odin-1 discovery confirmed gas pay in the Toolachee,
Slide 15: Odin Gas Field Commercialisation via Vali Facilities
Odin Gas Field Commercialisation via Vali Facilities • Odin JV commitment to expediting Odin gas to market asap • Lowest cost option -Circa 500m tie-in to Vali pipeline ▪ The PRL 211 joint venture has prioritised expedited production from Odin ▪ Targeting commencement of gas sales from Odin in FY24
Slide 16: Patriot Hydrogen - Transaction Summary
Patriot Hydrogen -Transaction Summary Metgasco’s goal is to diversify into a leading multi-fuel producer, including hydrogen, to transition to a lower emission future. Phased acquisition of Patriot Hydrogen - Key Terms The binding term sheet has been designed to allow a phased acquisition of Patriot
Slide 17: Conclusions - Upcoming investment highlights
Conclusions - Upcoming investment highlights First production and cash flow from Vali, accelerating Odin production and progressing the Patriot Hydrogen project will provide a number of share price catalysts. Vali Pipeline Installation Targeting completion of pipeline installation and commissioning
Slide 18: 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