Bounty Oil & Gas Nl · ASX:BUY
Bounty Oil & Gas Nl — Shareholder Meeting (November 2015)
23 slides from Bounty Oil & Gas Nl's shareholder meeting presentation, Nov 27, 2015
Slide 1: Annual General Meeting CEO Presentation
Bounty Oil and Gas NL Annual General Meeting For personal use only November 27, 2015 CEO Presentation ASX Code: BUY Philip F Kelso - CEO Gas Plant Songo Songo Island
Slide 2: Disclaimer/Competent Person
Disclaimer/Competent Person This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables For personal
Slide 3: ASX Listing Rules – Chapter 5 Reserves and Resources
ASX Listing Rules – Chapter 5 Reserves and Resources For personal use only ASX LISTING RULES 5.25 – 5.45 • All Bounty Oil & Gas NL (Bounty) petroleum Reserves and Resources assessments follow guidelines set forth by the Society of Petroleum Engineers – Petroleum Resource Management System (SPE-PRMS)
Slide 4: Additional Oil Production Base with Low Risk Upside
Bounty Oil & Gas NL – Additional Oil Production Base with Low Risk Upside Bounty revenue expected to re-bound strongly in 2016 with For personal use only Tanzanian gas sales after group oil revenue for the year down 39% to $1.91 million (2014: $3.14 million) impacted by lower oil Major gas pipeline
Slide 5: Additional Oil Production Base with Low Risk Upside
Bounty Oil & Gas NL – Additional Oil Production Base with Low Risk Upside Bounty expecting to increase its exposure to operated low risk oil For personal use only Australian appraisal and development projects in 2016. Moving to acquire controlling interest in development/appraisal targets:- Bounty h
Slide 6: Growth Projects
Bounty Oil & Gas NL – Growth Projects For personal use only Major Growth Projects:- Australia – Oil: AC/ P 32 Azalea: 500 MMBBL target Permit in good standing until 2017 with farmout efforts continuing as E&P projects under pressure. Tanzania Gas: As production commences in Tanzania Bounty will part
Slide 7: What we are Going to Discuss
What we are Going to Discuss Corporate • Financials For personal use only • Projects Production, Development and Appraisal • Production • Development/Appraisal Rough Range • Existing Pools • Near Field Exploration Growth • AC/P 32 • Nyuni (Tanzania) Deepwater Exploration 7
Slide 8: Corporate and Financials
Corporate and Financials • Revenue for 2015 totalled $1.83 million • Current assets: $2.25 million For personal use only • Balance sheet underpinned by conservatively valued reserves/resources • Many projects in the pipeline ASX Code BUY As at 26 November-15 52 Week Price Range $0.009 to $0.017 Shar
Slide 9: Projects
Projects For personal use only • Production: Oil and Gas sales now $1.5 million pa and will lift to +$4.5 million pa in 2016. Bounty’s • Core Development/Appraisal and Exploration: PL2A (Surat Basin QLD) Eluanbrook appraisal Target, Rough Range (WA) newly identified Threefold upside to known pools,
Slide 10: Production – Naccowlah (BUY 2%)
Production – Naccowlah (BUY 2%) Naccowlah Production BUY Share bopdc 50.00 For personal use only 45.00 40.00 35.00 30.00 25.00 20.00 15.00 10.00 5.00 0.00 Nov-14 Sep-14 Jul-14 Feb-15 Jul-15 Dec-14 Jun-15 Jan-15 Oct-14 Mar-15 May-15 Apr-15 Aug-14 Production – in well optimisation and cost effective m
Slide 11: Tanzania - Production Imminent
Tanzania - Production Imminent For personal use only Old Gas Plant New Gas Plant Kiliwani North • Kiliwani North Tanzania gas production commencing shortly Kiliwani North at a rate of ~25 million cu feet /day (455 barrels of oil equivalent per day) net to Bounty Tanzania – BUY • All facilities
Slide 12: Tanzania Production - Kiliwani North Gas Field
Tanzania Production - Kiliwani North Gas Field Connecting Gas Pipeline to Project For personal use only Field ready to go, pipeline connected and tested. Metering equipment in place for initial production. The field contains ~44 bcf in place of which it is estimated 28 BCF (2.8 BCF net to BUY) is re
Slide 13: Appraisal - PL 2B Eluanbrook
Appraisal - PL 2B Eluanbrook For personal use only Bounty has exercised its right of first refusal to acquire Santos’ interest in PL 2A and (but not the Alton Oilfield) BUY has been seeking to gain a controlling interest in this area for 4 years in order to drill an appraisal well up dip from Eluanb
Slide 14: Rough Range WA
Rough Range WA • Recent work by BUY has indicated the possibility of significant For personal use only BUY currently upside to a proven oil pool in PL L16 in which BUY already has a 10% Interest 10% - Considering • The same study has also identified an untested prospect in which BUY has a 10% intere
Slide 15: Rough Range and 1A Australia's first Oil Discovery
Rough Range 1 and 1A Australia's first Oil Discovery For personal use only Oil in RR #1 1953 15 Rough Range 1A Christmas Tree - 1955
Slide 16: Rough Range 1B – mid 2000's
Rough Range 1B – mid 2000’s For personal use only • On site is the bulk of the production facilities to produce some of the Established other pools in the project area. 16 Infrastructure • The Rough Range Field suspended production at the end of 2007 , having produced 78,753 bbls of 38o API waxy cru
Slide 17: Rough Range Opportunities
Rough Range Opportunities For personal use only • Roberts Hill 1 well is cased to the bottom, and the pool has recoverable oil in the region of 16-24,000 bbls • Parrot Hill pool appears on re-examination to be much larger than previously thought, the uncertainty is due to poor seismic imaging over t
Slide 18: AC/P 32 Azalea Prospect Overview - Timor Sea Regional Setting
AC/P 32 (BUY 100%) Azalea Prospect Overview - Timor Sea Regional Setting For personal use only AC/P 32 is located in the Vulcan Graben, Ashmore and Cartier Territory Surrounded by oil fields and numerous wells with good shows and Azalea volumes match province field size distribution Puffin, Skua, Sw
Slide 19: AC/P Timor Sea - Azalea Prospect Overview
AC/P 32 Timor Sea - Azalea Prospect Overview Bounty has successfully delineated and de-risked the Azalea Prospect For personal use only , ready for farmout Azalea contains potential 500 million barrels of oil (MMbo) in place in the Puffin Sand reservoir up dip from proven oil in the well Birch 1 Bou
Slide 20: Azalea Prospect Overview - Path to Development
AC/P 32 Azalea Prospect Overview - Path to Development Successful 100 plus million bbl oil discovery and For personal use only appraisal via a two well farmout strategy of say 49% will provide a major multiplier to Bounty’s current share price Excellent development infrastructure in Timor Sea region
Slide 21: Tanzania - Regional Setting
Tanzania - Regional Setting Deep water offshore Tanzania and Mozambique has seen over 170 TCF of gas discoveries in deep water For personal use only channel/fan systems related to the Rufiji and Ruvuma Deltas Major players such as Exxon Mobil, Statoil, BG, Anadarko and ENI all have major discoveries
Slide 22: Nyuni Deep Water Exploration (BUY 5%)
Nyuni Deep WaterExploration (BUY 5%) For personal use only Early Cretaceous channels are clearly visible on legacy seismic with anomalous amplitudes and possible flat spots directly up dip from the Chewa and Preza gas fields. Anomalous amplitudes are also observed in the overlying Eocene age rocks T
Slide 23: Bounty 2016 Summary
Bounty 2016 Summary Maintaining oil revenue but adding material For personal use only revenues through new gas production in Tanzania and maintaining them by appraisal/development work in Surat Basin and potentially Rough Range Pursuing 100 – 200 MMbo recoverable oil play at Azalea Prospect (AC/P 32
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