Metgasco Ltd · ASX:MEL
Metgasco — Corporate Update (October 2021)
12 slides from Metgasco's corporate update, Oct 4, 2021
Slide 1: Metgasco – Live Investor Update
ASX / MEDIA RELEASE ASX Code: MEL 04 October 2021 Metgasco – Live Investor Update Metgasco is pleased to advise that Managing Director, Ken Aitken will be hosting a live investor webinar on Thursday 7 October 2021 at 12pm (AWST) / 3 pm (AEDT). Ken will be joined by the company Chairman and CFO. Ken
Slide 2: Cooper Eromanga gas exploration success discovers a string of pearls
Cooper Eromanga gas exploration success discovers a “string of pearls” ATP2021 – Three Vali gas discoveries PRL211 – Odin-1 gas L14 – Cervantes Oil discovery Exploration project Potential significant gas production hub emerging to assist east coast gas shortage Metgasco Webinar ASX: MEL October 2021
Slide 3: Metgasco Business Transformation
Metgasco Business Transformation Since 2016 company transformed by building quality exploration/appraisal portfolio in Cooper and Perth Basin. 100% success in 4 Cooper wells building gas hub reserves/resources- anticipate production revenue in mid CY22 Value 5 CY22 -Pivot to 4 gas (and oil?) Vali-1
Slide 4: Company snapshot
Company snapshot Metgasco’s gas exploration success allows line of sight to profitable business in mid CY22 Company overview Substantial shareholders & Board ▪ ASX listed energy exploration company (ASX code: MEL) Glennon Capital Pty Ltd 10.50% ▪ Experienced team focused on creating shareholder valu
Slide 5: ATP2021 - Vali Hub Reserves: how big is the upside?
ATP2021- Vali Hub Reserves ….how big is the upside? Vali-2and Vali-3 delivered greater net gas pay than Vali-1 ST1 and are cased for future production. Independent reserve increase anticipated in Q3 CY21 ▪ Vali-2 drilled to appraise Patchawarra gas discovery and assess potential for gas in a Toolach
Slide 6: String of Pearls - Building a sizeable gas production hub
String of Pearls-Building a sizeable gas production hub Potential nine well Vali development - field life approx 20 years - 12mmscf/day average rate By assessing the resource upside ahead of first gas has allowed the value of the ATP2021and PRL211 assets to be optimised, with the following benefits
Slide 7: PRL211 Odin Gas Resources Significantly Upgraded
PRL211 Odin Gas Resources Significantly Upgraded • Independently certified Gross 2C Contingent Resources of 36.4 Bcf (8 Bcf net Metgasco) vs pre-drill estimates of 12.6 Bcf (2.8 net) • Metgasco(21.25%),Vintage(operator with 42.5%) Bridgeport(21.25%) & Impress Energy(15%) • 190% increase in pre-drill
Slide 8: Perth Basin – Cervantes Oil prospect located in oil trend
Perth Basin – Cervantes Oil prospect located in oil trend Kingia/High Cliff • Jingemia-1 intersected a 26m water bearing good porosity sand of Kingia/High Cliff Sand(outside of structural closure) reducing the risk of sand presence in Cervantes. • Cervantes structure significantly shallower than Jin
Slide 9: Perth Basin – Cervantes – L14
Perth Basin – Cervantes – L14 Potentially one of the largest undrilled oil opportunities in the Perth Basin (Gross P50 OOIP 35mmbo), with geological similarities to nearby discoveries A A’ Exploration Key Data Country Australia Basin Perth Basin Licence L14 Western Flank Cervantes Prospect Targets C
Slide 10: Conclusions – Upcoming share price catalysts
Conclusions – Upcoming share price catalysts • Near term operational, corporate and macro news flows will provide a number of share price catalysts Vali Reserve Assessment CY21 well results on Vali-2 /Vali-3 are being reviewed by Increase independent reserve auditor ERCE to assess upside gas reserve
Slide 11: Conclusions - Why should you invest in Metgasco?
Conclusions -Why should you invest in Metgasco? • Metgasco represents compelling value • Since 2016, the company has pivoted to growth while also . returning nearly $20m in cash and shares to its shareholders Metgasco’s board has “walked the walk” in prioritising total shareholder returns - and will
Slide 12: 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