Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Noosa Mining & Exploration Conference 2019
23 slides from Amplitude Energy's conference presentation, Jul 18, 2019
Slide 1: Presentation to Noosa Mining & Exploration Conference
Presentation to Noosa Mining & Exploration Conference For personal use only 18 July 2019 David Maxwell Managing Director
Slide 2: Important Notice – Disclaimer and other information
Important Notice – Disclaimer and other information The information in this presentation: For personal use only • Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy Limited or to retain or sell any shares that are currently held. • Does not take into account the i
Slide 3: Cooper Energy finds, develops and commercialises oil and gas
Cooper Energy finds, develops and commercialises oil and gas. For personal use only We do this with care and strive to provide attractive returns for our shareholders and good commercial outcomes for our customers.
Slide 4: Key results since Noosa Mining & Energy Conference 2018
Key results since Noosa Mining & Energy Conference 2018 Share price up 14%. Progress of Sole Gas Project has Cooper Energy on the cusp of transformational growth in FY20 For personal use only Revenue: up 12% Production: down 26% Market capitalisation: up 16% Share price up 14% million boe last repor
Slide 5: What have we done since last year?
What have we done since last year? Share market Finance redetermination For personal use only ASX 200 admission Sole Gas Project: offshore Senior bank facilities reset New gas contracts Offshore construction completed Umbilical replacement Otway gas exploration • Origin Energy (CY20) Orbost Gas Plan
Slide 6: Strategy origins
Strategy origins Value-creation opportunity identified in 2012 For personal use only The anticipated increase in gas demand …led to identification of a business opportunity to brought by LNG production….. supply of gas to south-east Australia… Forecast gap between available supply and forecast deman
Slide 7: Gas market outlook
Gas market outlook Gap between local production and supply creating favourable market for south-east Australian gas For personal use only AEMO forecast of south-east Australian gas production, demand and supply PJ 500 • South-east Australia is reliant on Queensland gas to meet Forecast Demand shortf
Slide 8: Gas asset portfolio
Gas asset portfolio Assets acquired for competitiveness in delivered gas price to south-east Australia For personal use only Otway Hub: gas production, development & exploration • Casino Henry gas production (Operator, 50% interest) • Minerva gas production (10%) • VIC/P44 exploration acreage (Opera
Slide 9: Gas supply contract profile and customer base
Gas supply contract profile and customer base 2P reserves with a growth profile. Uncontracted gas that ranks in the most competitive delivered to south-east Australia For personal use only Gas sales profile contracted & uncontracted PJ pa Uncontracted Existing customers Contracted 4 9 8 8 7 8 8 2 12
Slide 10: Sole gas project
Sole gas project Onshore and offshore workstreams – commencement of onshore commissioning activities in September quarter For personal use only Onshore project: APA Group Offshore project: Cooper Energy $355 million offshore project: • construction completed • $250 million upgrade to Orbost Gas Plan
Slide 11: Sole gas project safety performance
Sole gas project safety performance Offshore construction completed with zero lost time injuries For personal use only • Project performance 1 June 2017 to 30 June 2019 • 561,362 hours worked • Project activities ranging from onshore weld and pipe, horizontal drill shore crossing, drill complete and
Slide 12: Otway Basin gas hub
Otway Basin gas hub Cost competitive gas, plant and pipeline infrastructure in place with exploration potential For personal use only Casino Henry: production Minerva Gas Plant • Currently owned by Minerva Joint Venture (Cooper • Casino, Henry & Netherby gas fields Energy 10%) • 50:50 JV with Mitsui
Slide 13: Offshore Otway Basin exploration
Offshore Otway Basin exploration Proven gas province with pipeline and processing plant in close proximity For personal use only Diamond Offshore Ocean Monarch Expected to arrive on location late July to drill Annie-1, followed by Elanora-1 Minerva Gas Plant Currently owned by Minerva Joint Venture.
Slide 14: Otway Basin: Penola Trough onshore
Otway Basin: Penola Trough onshore Dombey-1 to be drilled to evaluate Pretty Hill Formation and Sawpit Sandstone potential For personal use only South Australia • Spud expected late August 2019 to testing similar stratigraphic section as Haselgrove gas field in adjoining PPL 62 which confirmed conve
Slide 15: Gippsland Basin gas hub
Gippsland Basin gas hub Cost competitive resource, existing plant and Sole production planned for FY20 For personal use only Sole: production • Production expected to commence FY20 (Sept Qtr: APA) VIC/P72: exploration • 24 PJ per annum • Production upside with de-bottlenecking • Adjacent to producin
Slide 16: Operations: Cooper Basin
Operations: Cooper Basin Drilling to ramp up in low cost high margin oil acreage For personal use only • Low production cost, high cash margin, oil production from PEL 92 joint venture (Cooper Energy 25%, Beach Energy, Operator 75%) • Drilling to ramp up in FY20 with step out appraisal program simil
Slide 17: Projects pipeline
Projects pipeline 5 year development program that can lift gas production more than 10 times FY19 levels – excluding exploration For personal use only FY19 FY20 FY21 FY22 FY23 FY24 Sole construct Sole:1 production 68TJ/d (~24 PJ per annum) Minerva Gas Plant:2 acquire, integrate and operate Henry:3 d
Slide 18: Wrap-up: Stepping off into growth
Wrap-up Stepping off into growth For personal use only Indicative Cooper Energy oil and gas FY18-19: Building production FY 20 – 21: Growing & reinvesting million boe 6 Sole Gas Project o Sole to come on-line Gas contracts 5 o Gas production to increase 5 times to >30 PJ pa Capability and regu
Slide 19: Appendices
For personal use only Appendices
Slide 20: Cooper Energy Snapshot
Cooper Energy Snapshot Key statistics* For personal use only Proved & Probable Reserves 54.1 MMboe Contingent Resources (2C) 34.9 MMboe Market capitalisation $835 million Net (debt)/cash $(52.4) million Issued shares (million) 1,621.6 Cooper Basin Oil production & exploration Register composition Pr
Slide 21: Profile of contracted and uncontracted gas by project
Profile of contracted and uncontracted gas by project Existing reserves and resources offer growth before exploration upside For personal use only Gas sales profile by project contracted & uncontracted PJ pa Manta uncontracted Manta 25 (subject to appraisal well and FID) 24 18 Manta contracted 18 1
Slide 22: Senior management
Senior management Managing Director General Manager, Development Company Secretary & Legal General Manager, Commercial & For personal use only David Maxwell Duncan Clegg Counsel Business Development Alison Evans Eddy Glavas David Maxwell has over 30 years’ experience Duncan Clegg has over 35 years’
Slide 23: Event outlook
Event outlook FY20 and FY21 exploration and development program presents numerous value catalysts For personal use only FY20 FY21 Gippsland • Sole start-up • Manta-3 drilling • Orbost Gas Plant de-bottlenecking production upside • VIC/P72: drill 1 gas exploration well • 90 day performance test Otway
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