Otto Energy Limited · ASX:OEL
Otto Energy — Shareholder Meeting (November 2010)
25 slides from Otto Energy's shareholder meeting presentation, Nov 22, 2010
Slide 1: Otto Exploration Update
me) O17O ENERGY 22 November 2010 Manager of Company Announcements ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 By E-Lodgement OTTO AT A GLANCE OTTO EXPLORATION UPDATE * ASX-listed oil and gas company with Highlights: significant growth potential. e SC55 Offshore Palawan Hawkeye 3D seismic f
Slide 2: Competent person statement
me O7T;O ENERGY The Reserve and Contingent Resource estimates outlined in this announcement have been compiled by Mr Nick Pink. Mr Pink is the Senior Reservoir Engineer of Otto and a full time employee. Mr Pink has more than 12 years of relevant experience and is qualified in accordance with ASX Lis
Slide 3: Service Contract 55 Offshore Palawan
me O71T;O ENERGY SERVICE CONTRACT 55 OFFSHORE PALAWAN Service Contract Summary: ¢ — OEL (through its wholly-owned subsidiary NorAsian Energy Ltd) 85% Interest and Operator e Area 9,880 km2 e¢ Work commitments in current sub-phase completed. Next sub-phase commences August 2011 and includes drilling
Slide 4: Service Contract 69 Offshore Visayas
me O1T;O ENERGY SERVICE CONTRACT 69 OFFSHORE VISAYAS Service Contract Summary: ¢ OEL (through its wholly-owned subsidiary NorAsian Energy Phils Inc) 70% Interest and Operator e Area 7,040 km2 e Sub-phase 2 ends February 2011. Work commitments in this Sub-phase have been met e Sub-phase 3 commences F
Slide 5: Service Contract 51 Offshore and Onshore Visayas
me O71 i .@) ENERGY SERVICE CONTRACT 51 OFFSHORE AND ONSHORE VISAYAS Service Contract Summary: ¢ OEL (through its wholly-owned subsidiary NorAsian Energy Ltd) 80% Interest and Operator e Area 3,320 km2 ¢ Work commitment in the current sub-phase requires drilling of 1 exploration well by July 2011 Cu
Slide 6: For personal use only
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Slide 7: November 2010
For personal use only AGM Presentation 22 November 2010
Slide 8: Disclaimer
Disclaimer For personal use only • This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is not to be distributed to third parties without the consent of Otto Energy Ltd (the “Company”). • This presentation contains forward-look
Slide 9: 2010 Focus on issues
2010 Focus on 4 issues For personal use only Improving Operations and cash-flow in Galoc Starting production in Turkey Maturing Philippines high prospectivity acreage Improving portfolio focus via exit of non-core assets. INTRODUCTION
Slide 10: Portfolio ranking is now in quadrants
Portfolio ranking is now in 4 quadrants use only • ~6 million bbls (gross) produced to date Galoc Oil Field • Current production rate 8,000 bopd SC-55 Philippines • Infill development and exploration planning (Offshore Palawan) (18.8% interest) ongoing SC-14C Asset Quality (Offshore Palawan) For per
Slide 11: Cash-flow has been growing for years
Cash-flow has been growing for 2 years For personal use only Asset 2010 2009 % Galoc • Uptime (12 mth rolling average) 78% 62% 16% • Production (bbl, net) 536,943 428,865 25% • Receipts from GPC (US$) $29.5m $0.0m 100% Exploration • Seismic acq. contribution (US$m) $20.0m $0.0m 100% • Exploration ex
Slide 12: Cash position at a US$33 million high
Cash position at a US$33 million high For personal use only End Q4 2010 End FY End FY Forecast 2010 2009 Cash in Bank (US$m) $33.5m $29.7m $10.5m Debt (US$m) $0.0m $0.0m $0.0m IMPROVED CASHFLOW
Slide 13: Philippines Acreage
Philippines Acreage For personal use only Philippines Archipelago Acreage under service contract Otto Energy Acreage Prospects & Leads Visayan Basin 10,360 km2 Palawan Basin 11,200 km2 MATURING EXPLORATION
Slide 14: Maturing Philippines Exploration
Maturing Philippines Exploration For personal use only Asset Activity 2010 Acquired Processed Interpretation /Prospect Maturation SC55 New 2,400sqkm 3D Q1 2010 Q2-4 2010 ongoing SC69 New 760km 2D Q1 2010 Q2-3 2010 completed MATURING EXPLORATION
Slide 15: Palawan Acreage
Palawan Acreage Palawan Archipelago For personal use only Acreage Under License Calauit SC50 Otto Energy Acreage Prospects & Leads Regional Hydrocarbon Trend SC14C Hydrocarbon Discoveries Galoc Malampaya Sampaguita SC55 AboAbo Extension 3D Hawkeye 3D NW Borneo Trend (Kikeh Field, Kamunsu Field) MATU
Slide 16: SC55 Prospective Resources: Palawan Acreage
SC55 Prospective Resources: Palawan Acreage For personal use only Palawan Archipelago Hawkeye 3D Identified Prospects Acreage Under License Otto Energy Acreage Prospects & Leads (More to come as 3D is interpreted) M14 A2 A3 Extension 3D A6 P6 P10a A5 Hawkeye N1 Hawkeye 3D TOTAL Mean (Unrisked) Oil-i
Slide 17: SC55 Update: Maturing to drilling stage
SC55 Update: Maturing to drilling stage For personal use only Hawkeye Prospect Location Offshore, SW Palawan 50 km2 Hawkeye Prospect Area of Closure Areal Closure: 50km2 Up to 500m column height STOIIP 87-484-1539 MMbbls GIIP 0.2-1.2-2.5 Tcf Hawkeye Flat Spot (DHI) Present GPOS 27% (oil) Second Flat
Slide 18: Visayan Acreage
Visayan Acreage Visayan Archipelago For personal use only Acreage Under License Otto Energy Acreage Prospects & Leads SC51 NORTH SC69 SC51 SOUTH MATURING EXPLORATION
Slide 19: Prospective Resources: Visayan Acreage
Prospective Resources: Visayan Acreage Visayan Archipelago For personal use only Acreage Under License Duhat 2D Identified Prospects Otto Energy Acreage Prospects & Leads Lampos Lampos South Bahay TOTAL Mean (Unrisked) Oil-in-Place: Argao 900 Million Barrels MATURING EXPLORATION
Slide 20: SC69 Update: Moving to next Phase with 3D
SC69 Update: Moving to next Phase with 3D For personal use only Lampos Lampos South Lampos 14.2 km2 300m closure Location Off-shore Visayan Basin Closure Area 14.2 km2 9.8 km2 Lampos South Closure Height 300m 330m 9.8 km2 330m closure STOIIP* 15-121-468 MMbbls 7-57-245 MMbbls GIIP* 22-162-612 Bcf 10
Slide 21: SC51 Update: Duhat-1 Drilling Q1 2011
SC51 Update: Duhat-1 Drilling Q1 2011 SW NE For personal use only San Isidro Anticline Follow-Up Structure #1 Duhat-1 will be the first valid structural test conducted on the island of Leyte, an area of well- known and documented oil seeps. Barili Fm. Tagnocot Fm (Primary Target) Taog Shales Duhat-1
Slide 22: 2010 Planned exits from non core assets
2010 Planned exits from non core assets For personal use only Have exited Argentina and Italy Turkey SC 50 Calauit PORTFOLIO FOCUS
Slide 23: New Business: What's next
New Business: What „s next For personal use only Portfolio high-grading complete around year end New opportunity capture anticipated in 2011 What How Exploration Gazettals/Farm-ins Development Screening undeveloped fields Production Galoc Phase 2 Near Field Exploration New Opportunities Area of Focu
Slide 24: 2011 Outlook
2011 Outlook For personal use only What When Drill Duhat-1, onshore Leyte Q1 2011 Get Hawkeye Drill ready (SC-55) Q1-2 2011 Galoc Phase 2 (SC-14c) Q3 2011 Lampos 3D (SC 69) Q1-2 2011 New asset/opportunity entry 2011 OUTLOOK
Slide 25: Thank You
For personal use only Thank You