Bass Oil Ltd · ASX:BAS
Bass Oil — Bass Strait Oil Company — Shareholder Meeting (November 2010)
21 slides from Bass Oil's shareholder meeting presentation, Nov 3, 2010
Slide 1: Annual General Meeting - November 2010
For personal use only Annual General Meeting - November 2010
Slide 2: FY 2010 Review
FY 2010 REVIEW For personal use only Corporate achievements for the 2010 financial year include: • Successful underwritten rights issue and placement. $4,067,379 raised and 135,579,297 new ordinary shares issued. • Farmout funding for Windermere 3D seismic. International company making its first inv
Slide 3: Corporate Information
CORPORATE INFORMATION For personal use only – 291,030,250 ordinary shares – Total shareholders approximately 2,300 – Top 50 shareholders hold 60% – Albers Group interests 24% – 1.5 million unlisted employee options – Cash on hand approximately $3.4 million – Market capitalisation approximately $8 mi
Slide 4: Directors and Management
DIRECTORS AND MANAGEMENT For personal use only ¾ John McInnes OAM, Chairman – BComm, FCA, chartered accountant and company director ¾ Andrew Adams, Managing Director – BSc, MBA, former Amoco Canada and Santos executive, member of APPEA Exploration Committee ¾ Dr Henry Askin, Director – former Shell
Slide 5: Clear Exploration Focus on Southeast Australia
Clear Exploration Focus BASS STRAIT on Southeast Australia (0) @ Strong permit position; bh excellent leverage to high-impact discovery potential. Oil for Australians @ Coherent, focussed portfolio across three productive basins. Tn a tua, @ Offshore drilling & seismic operations experience since 20
Slide 6: Bass Strait Oil Company Ltd – Permit Interests
BASS STRAIT OIL COMPANY LTD – PERMIT INTERESTS For personal use only TOTAL ACREAGE ca 14,000 km2 IN THREE PRODUCTIVE BASINS Gippsland Basin VIC/P41 – 45% operator VIC/P42 – 100% operator VIC/P47 – 40% operator VIC/P66 – 60% operator Bass Basin T/42P & T/43P – 100% operator Otway Basin PEP167 – 50% o
Slide 7: Balanced Portfolio of Opportunities
BALANCED PORTFOLIO OF OPPORTUNITIES For personal use only APPRAISAL EXPLORATION FRONTIER 9 PORTFOLIO – 40% 9 PORTFOLIO – 40% 9 PORTFOLIO – 20% 9 RISK: < 45% 9 RISK: 15% - 45% 9 RISK: > 15% 9 REWARD: < 500 Bcf 9 REWARD: 0.5 – 5.0 Tcf 9 REWARD: > 5.0 Tcf < 5 MMbbls 5 – 150 MMbbls > 150 MMbbls ¾ VIC/P4
Slide 8: Otway Basin Acreage
OTWAY BASIN ACREAGE For personal use only • PEP 167 contains Windermere-1 oil discovery, PEP150 contains Lindon oil discovery (permit pending native title) • Area offers excellent access and infrastructure indicating good economics for oil development • $2 million farmout to Interra Resources for PE
Slide 9: PEP – Windermere Oil Project
PEP 167 – WINDERMERE OIL PROJECT • Permit Term: For personal use only 02/07/07 – 01/07/12 • Interpretation and mapping nearing completion • Windermere-1: ¾drilled in 1987 ¾recovered 32 bbls oils ¾likely wellbore damage • Technical review indicates good potential for commercial flow rates • 41 km2 of
Slide 10: Windermere Seismic Interpretation
WINDERMERE SEISMIC INTERPRTATION For personal use only • Preliminary interpretation shows good horizon and fault definition • Anticipate final mapping will be completed in 4th quarter
Slide 11: Windermere Mapping – Heathfield Reservoir
WINDERMERE MAPPING – Heathfield Reservoir • Preliminary For personal use only mapping at Windermere-1 shows closure at oil reservoir level • Anticipate final mapping will be completed in 4th quarter • Possible drilling next year pending seismic results
Slide 12: Windermere Economics
WINDERMERE ECONOMICS Anticipate robust economics based on: For personal use only ¾ Relatively shallow reservoir (approx 1800m) ¾ Sealed highway to Geelong refinery ¾ All-weather road access and gentle terrain ¾ Local infrastructure and support
Slide 13: Bass Basin Acreage
BASS BASIN ACREAGE For personal use only T/42P & T/43P - total 6,120 sq km Under explored Durroon Sub-basin play New 2D seismic and basin modelling show large prospects plus hydrocarbon ‘kitchens’ Favourably located - infra structure and growth markets, in water depth < 100m
Slide 14: T/42P and T/43P – Prospects and Leads
T/42P and T/43P – PROSPECTS AND LEADS • Permit Term: For personal use only 24/02/06 – 23/02/12 • Seeking farminee to drill commitment well before Feb 2012 • Petroleum System defined • Prospect and Lead inventory completed • 9 prospects totalling unrisked recoverable 4.5 Bbbls or 9.5 Tcf (P50)
Slide 15: Gippsland Basin Acreage
GIPPSLAND BASIN ACREAGE For personal use only
Slide 16: VIC/P42: Prospects and Leads
VIC/P42: PROSPECTS AND LEADS For personal use only Permit Term: 18/09/09 – 17/09/14 Seismic data sets to be reprocessed Renewal complete - BAS 100% and operator Zane Grey and Omeo discoveries Renewal area fully covered by 3D seismic
Slide 17: VIC/P47: Discoveries and Prospects
VIC/P47: DISCOVERIES AND PROSPECTS •Permit Term: 16/11/09 – 15/11/14 For personal use only •Continuing farmout interest •Existing gas discoveries at Judith and Moby with nearby infrastructure •Longtom gas field (Nexus) now on production is analogue for Judith - both Emperor Sub Group reservoirs •Pat
Slide 18: VIC/P41: Prospects and Leads
VIC/P41: PROSPECTS AND LEADS For personal use only Permit Term: 20/09/06 – 19/09/11 Seismic inversion and basin modelling projects underway 3D-defined, high-impact prospects Kipling, analogous to Kipper field P50: 124 MMbbls +620 Bcf Oscar 3D Benchley, GB and Halibut targets P50: 184 MMbbls +
Slide 19: VIC/P66: Play Concepts
VIC/P66: PLAY CONCEPTS For personal use only Permit Term: 02/12/06 – 01/12/14 Seismic inversion and Northern Platform basin modelling projects underway Northern Terrace Central Deep
Slide 20: Clear Exploration Focus on Southeast Australia
Clear Exploration Focus BASS STRAIT on Southeast Australia (0) @ Strong permit position; bh excellent leverage to high-impact discovery potential. Oil for Australians @ Coherent, focussed portfolio across three productive basins. Tn a tua, @ Offshore drilling & seismic operations experience since 20
Slide 21: Disclaimer
DISCLAIMER For personal use only This presentation has been prepared by Bass Strait Oil Company Ltd (“BAS” or the “Company”), with the purpose of providing general information about the Company. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the
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