Empire Energy — SEAAOC Presentation October 2021
20 slides from Empire Energy's conference presentation, October 2021
Slide 1: Empire Energy – Sights on Early Production in the Beetaloo
ASX:EEG Empire Energy – Sights on Early Production in the Beetaloo SEAAOC Presentation October 2021
Slide 2: Corporate Snapshot
Corporate Snapshot Capital Structure ASX Share Price Shares on issue1 599.5m Share price $0.365 Market cap $218.8m Net (debt2) / cash ~$21.8m Enterprise value ~$197.0m Cash at bank ~$30.0m Pro-forma Top Shareholders Pangaea Resources (NT) Pty Limited3 20.0% Elphinstone Holdings Pty Limited 8.9% 100%
Slide 3: Empire's Board of Directors
Empire’s Board of Directors Paul Espie AO Alex Underwood Peter Cleary Louis Rozman Prof. John Warburton Paul Fudge Jacqui Clarke Chairman & Non- Managing Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Alternate Director Executive Director • Assoc
Slide 4: Slide 4
Slide 5: Global gas prices rising strongly
Global gas prices rising strongly Australian East Coast Domestic (A$/GJ) International (US$/MMBtu) 4
Slide 6: Gas running strong - Asian LNG demand increasing dramatically
Gas running strong - Asian LNG demand increasing dramatically Forecast Asian LNG Imports – BP World Energy Outlook 2020 Business as Usual Rapid Transition Energy Transition Case Scenario Energy Transition Scenario 700 659 600 588 558 500 500 • Growing LNG demand in ‘hard to abate sectors’ such as he
Slide 7: Australia's looming gas shortage – Beetaloo poised to fill the gap
Australia’s looming gas shortage – Beetaloo poised to fill the gap • The Beetaloo Sub-basin is well positioned to meet this challenge with the scale of resource and existing Shortfall 2040 infrastructure 1,500 PJ pa • Empire’s Beetaloo gas has notably low CO2 (0.5% to 1%) and high calorific content
Slide 8: Second Carpentaria-1 EPT lifts Velkerri flow rate
Second Carpentaria-1 EPT lifts Velkerri flow rate
Slide 9: The Beetaloo is Australia's largest Undeveloped Gas Resource
The Beetaloo is Australia’s largest Undeveloped Gas Resource • Total potential prospective resources in the Velkerri B Beetaloo Basin shale unit of between 50 Tcf and 100 Tcf based on Government estimates of 500 Tcf gas-in-place (assuming +500 TCF recovery factors of between 10% and 20%) GIIP 6.0 Bo
Slide 10: MOU Executed With APA Group
MOU Executed With APA Group • APA Group (ASX: APA) and Empire have today executed an MOU to explore opportunities for the development of Beetaloo mid- stream infrastructure including gas and liquids gathering, processing and pipelines • APA is a leading Australian energy infrastructure business conn
Slide 11: A Larger Empire through a major acquisition
A Larger Empire through a major acquisition In area: P(50) P(50) millions of Gas Prospective acres: in TCf Resource in PJe + Pangaea / 14.6 14.4 14,661 EMG assets 14.3 27.7 32,209 28.9 42.1 46,870 • Pangaea and EMG invested ~$110 million in exploration and appraisal between 2012 and 2015 • Stuart Hi
Slide 12: A 191% lift in gas, 2,830% lift in liquids Prospective Resources
A 191% lift in gas, 2,830% lift in liquids Prospective Resources + Pangaea / EMG Pre Acquisition assets (100%) = Post Acquisition Unrisked Prospective Unrisked Prospective Unrisked Prospective Unrisked Prospective Unrisked Prospective Unrisked Prospective Resources (Liquids) Resources (Gas) Resource
Slide 13: A 384% increase in 2C gas + 2C liquids Contingent Resources
A 384% increase in 2C gas + 2C liquids Contingent Resources + Pangaea / EMG Pre Acquisition assets (100%) = Post Acquisition Contingent Resources Contingent Contingent Contingent Contingent Contingent (Liquids) Resources (Gas) Resources (Liquids) Resources (Gas) Resources (Liquids) Resources (Gas) L
Slide 14: Second Carpentaria-1 EPT lifts Velkerri flow rate
Second Carpentaria-1 EPT lifts Velkerri flow rate
Slide 15: Appraisal work accelerating across the Basin
2021Appraisal work accelerating across the Basin Planned government funded Australia’s road upgrades Deepest Water Wharf Berthing Facilities Planned government funded road upgrades 14
Slide 16: Continuously productive shales, these five wells span 309km
Continuously productive shales, these five wells span 309km West East 48 km 112 km 87 km 62 km NATURAL NATURAL NATURAL NATURAL NATURAL Datum on C Shale MiddleVelkerri C Shale Formation 100 m B Shale Intra A-B Shale The organic-rich shales of the middle Velkerri Formation show remarkable lithological
Slide 17: Second Carpentaria-1 EPT lifts Velkerri flow rate
Second Carpentaria-1 EPT lifts Velkerri flow rate Carpentaria-1 800 m Zonal June – July 2021 October 2021 Contributions 17 day 10 day Average Average 1000 m 0.25 mmcf / day 0.364 mmcf / day C Shale 25-30% Rate* 1200 m COVID Shut-in 45% Increase B-Shale 33-38% at Restart 1400 m Intra A / B 20-25% A-S
Slide 18: 2020 – 2021 Exploration & Appraisal Campaign Successes
2020 – 2021 Exploration & Appraisal Campaign Successes • October 2020 Carpentaria-1 drilled to TD 1,915m intersected a column of liquids rich gas in the Velkerri nearly 1 km thick (998m) • Substantial proportions of heavier-end, higher-value liquid hydrocarbons intersected - enhancing the economics
Slide 19: ASX:EEG
ASX:EEG Alex Underwood Managing Director info@empiregp.net https://empireenergygroup.net/ +612 9251 1846 18
Slide 20: Disclaimer
Disclaimer This presentation has been prepared by Empire Energy Group Limited (“Empire” or the “Company”). The information in this presentation is information of a general nature and is subject to change without notice. The information in this presentation does not purport to be complete, nor does i
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