Otto Energy Limited · ASX:OEL
Otto Energy — Investor Presentation (October 2012)
20 slides from Otto Energy's investor presentation, Oct 16, 2012
Slide 1: ASX Announcement – Investor Presentation
16 October 2012 For personal use only Manager of Company Announcements ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 By E-Lodgement OTTO AT A GLANCE • ASX-listed oil and gas company with ASX ANNOUNCEMENT – INVESTOR PRESENTATION significant growth potential. Please find attached a presentatio
Slide 2: Gregor McNab, Chief Executive Officer, October 2012
For personal use only ASX : OEL Gregor McNab, Chief Executive Officer October 2012
Slide 3: 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-looking
Slide 4: Otto Overview
Otto Overview For personal use only • Listed on ASX since 2004 • Market capitalisation ~A$102 million at A$0.09 per share • Growing an integrated business across exploration, development and production phases • Geographic focus on South East Asia and onshore East Africa - Established integrated posi
Slide 5: Capital Structure & Shareholders
Capital Structure & Shareholders For personal use only Capital Structure Fully paid ordinary shares 1.13b Unlisted options1 28.25m Performance Rights 27.00m Market capitalisation2 102m Cash (at June 2012) US$28.3m Debt (at June 2012) Nil Shareholders Molton Holdings 21.3% Santo Holdings 21.3% Acorn
Slide 6: Board & Management
Board & Management For personal use only Board of Directors Management Chairman – Rick Crabb BJuris (Hons), LLB, MBA Chief Executive Officer – Gregor McNab BSc (Hons) Chairman of Paladin Energy, Golden Rim & Ashburton Oil & gas experience gained over 29 years, based in Minerals. Europe, Asia, North
Slide 7: Activity Pipeline
Activity Pipeline For personal use only APPRAISAL/ NEW BUSINESS EXPLORATION PRODUCTION DEVELOPMENT PECR4: Palawan Exploration: Galoc Oil Field Phase II: Galoc Oil Field: Submissions made for Area SC14C – Galoc: 2 wells in 2013 for ~8 MMbbl Production to date 9 MMbbl 7 & Area 15 - Galoc North
Slide 8: Established Integrated Position in the Philippines
Established Integrated Position in the Philippines For personal use only Malampaya Gas Complex Duhat 2.7 Tcf Lampos SC14C - Galoc Complex 33% WI 163 km 2 SC 69 79% WI 5280 km2 SC 51 North 80% WI 1660 km 2 Uno Cinco Hawkeye SC 55 33.18% WI 9880 km2 Otto Energy Acreage 3D Seismic Coverage Kebabangan &
Slide 9: Production – Galoc Phase I
Production – Galoc Phase I For personal use only • Otto holds material working interest: 33% and field operator • Reliable production: 5,500 BOPD, >95% uptime, 9.5 MMbbl produced to date (gross) • Marketable product: 35o API oil, low sulphur crude easily placed into regional market, consistently ach
Slide 10: Production & Reserves
Production & Reserves For personal use only Planned Shutdown • Progressive reserve additions since January 2011 - January 2011: Improved operating performance and reservoir performance - January 2012: Increased OEL interest from 19% to 33% via Vitol transaction - July 2012: Galoc Phase II final inve
Slide 11: Development – Galoc Phase II
Development – Galoc Phase II • Scope For personal use only - Drill and complete two 2,000m horizontal section subsea wells - Tie-back to existing FPSO (“Rubicon Intrepid”) - Install second production riser and control umbilical • Production - Will deliver ~8 MMbbl of additional reserves - Current to
Slide 12: Galoc: Exploration Potential
Galoc: Exploration Potential • Significant Work completed to build understanding of subsurface issues For personal use only - High resolution 3D seismic data acquired January 2012 - Detailed geological and reservoir modelling commenced 4Q 2011 - High confidence in northern Galoc area exploration pot
Slide 13: SC55: Carbonate Gas Prospect & Lead Portfolio
SC55: Carbonate Gas Prospect & Lead Portfolio SC 55 • Total unrisked potential Mean Recoverable Resources For personal use only (Nido level carbonates only): Carbonate Prospect • Gas: 19 Tcf Clastic Prospect • Condensate: 670 MMbbls • Cinco Prospect (analogous to Malampaya field): Carbonate Lead • G
Slide 14: SC51: Planning for Duhat-2 Well
SC51: Planning for Duhat-2 Well For personal use only • Otto working interest 80% and operator • Duhat-1 well drilled to limited depth in 2011: demonstrated hydrocarbons • Currently executing 100km 2D seismic survey Duhat-1 to confirm well location 14.5 km2 370m closure • Plan to drill Duhat-2 well
Slide 15: SC51: 2012 Seismic De-Risking Duhat Prospect
SC51: 2012 Seismic De-Risking Duhat Prospect For personal use only Duhat Prospect Target Interval Immediate Immediate Follow Up Follow Up 12 kilometres • New 2D seismic survey confirming Duhat structure and identifies immediate follow up potential: - Large simple anticlines – effective trap for hydr
Slide 16: SC69: Maturing to drillable status
SC69: Maturing to drillable status For personal use only OEL WI 79% Lampos Lampos South Duhat-1 Location Off-shore Visayan Basin Water Depth 730 Metres 670 Metres Objective Depth 1,230 Metres 1,300 Metres Closure Area 14.5 km2 14.5 km2 SC69 Closure Height 330m 500m STOIIP (Mean)1 191 MMbbls 312 MMbb
Slide 17: Onshore East Africa: Discoveries since 2000
Onshore East Africa: Discoveries since 2000 For personal use only 2000-2005 Lake Albert 2Bbbls oil discovered 2012 Ngamia-1 100m net oil 2012 Mbawa-1 50m net gas Feb 2012 Otto Acquires 50% interest in 34,000 sq km onshore Tanzania 2011-12 c.17TCF gas discovered 2010-12 70 TCF gas discovered (Prosper
Slide 18: East Africa: Tanzania
East Africa: Tanzania Joint Venture Partners: PANGANI PSA For personal use only Name % • ~17,000 square kilometres Otto Energy (Tanzania) Pty Ltd 50.00% • A potential arm of a triple point junction on Swala Oil and Gas (Tanzania) Limited 50.00% the eastern branch of the East African Rift System • Wo
Slide 19: Activity Pipeline
Activity Pipeline For personal use only APPRAISAL/ NEW BUSINESS EXPLORATION PRODUCTION DEVELOPMENT PECR4: Palawan Exploration: Galoc Oil Field Phase II: Galoc Oil Field: Submissions made for Area SC14C – Galoc: 2 wells in 2013 for ~8 MMbbl Production to date 9 MMbbl 7 & Area 15 - Galoc North
Slide 20: Thank You
For personal use only THANK YOU Otto Energy Ltd 32 Delhi Street West Perth Western Australia 6005 Telephone: +61 8 6467 8800 Facsimile: +61 8 6467 8801 info@ottoenergy.com 19