Metgasco Ltd · ASX:MEL

Metgasco — Shareholder Meeting (November 2006)

14 slides from Metgasco's shareholder meeting presentation, Nov 15, 2006

  1. Slide 1: 2006 Annual General Meeting - Managing Director's Review

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  2. Slide 2: Agenda

    AGENDA METGASCO’S BUSINESS OPPORTUNITY 2006 YEAR IN REVIEW OBJECTIVES FOR 2007 QUESTION AND ANSWER SESSION METGASCOua

  3. Slide 3: The Opportunity

    S » Hydrocarbon potential of the Clarence “THE OPPORTUNITY Moreton Basin in northern NSW » Underexplored Jurassic - Cretaceous Basin » Coal Seam Gas of the Walloon Coal Measures > Conventional oil and gas potential — >» South east Queensland and north east New South Wales are Australia’s fastest gro

  4. Slide 4: 2006 Year in Review

    ii. iii. iv. 2006 YEAR IN REVIEW Reserves & Production Richmond Valley Power Station Additional Market Opportunities Exploration Management & Stakeholder Outcomes METGASCOua

  5. Slide 5: Reserves & Production

    2006 YEAR IN REVIEW | Reserves & Production | | > Independent Review of drilling methods and results at South Casino > High gas content lower - permeability environment suitable for lateral drilling > Commenced lateral drilling program in January > Immediate results with up to 100,000 scf/d in MSC-0

  6. Slide 6: Reserves & Production

    2006 YEAR IN REVIEW Reserves & Production > March 2006 PEL 16 Gas Reserve Certification » Probable (2P) 21Bef (22 Pj) » Possible (3P) 1,080 Bef (1,123 Pj) > Largest Certified Gas Reserves in NSW > On 3P Basis, sufficient to supply NSW for > 8 years > 2P covering 4% of PEL 16, 3P covering 50% of PEL

  7. Slide 7: Richmond Valley Power Station ("RVPS")

    2006 YEAR IN REVIEW | Richmond Valley Power Station (“RVPS”) Gas fired power station to be built near Casino NSW Completed FEED in October 2006 * * - - Optimal Configuration 30Mw, up from 12Mw “Major Projects Status” awarded in September 2006 EIS commenced Current negotiations with infrastructure pa

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  9. Slide 9: Additional Market Opportunities

    2006 YEAR IN REVIEW | Additional Market Opportunities > Regional Power Market > By 2010 it is estimated that about 650Mw of installed generation capacity will be required to service northern NSW (ACIL Tasman) » MEL working assumption on current demand load growth northern NSW- Gold Coast 50Mw/Annum

  10. Slide 10: Additional Market Opportunities map

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  11. Slide 11: Exploration

    2006 YEAR IN REVIEW | EXPLORATION > PEL 13 Farm in with Molopo Limited, right to earn up to 75% WI > 408,500 acres south and west of PEL 16 > Drilled initial MMMC-01 well in July 2006 > Located ~15km south west of South Casino trial field > Identified total 22m of coal seams > 1.5m thick > Sampling

  12. Slide 12: Management and Stakeholder Outcomes

    2006 YEAR IN REVIEW | Management and Stakeholder Outcomes New Safety Management Plan, regular toolbox meetings Commenced development of Environmental Management Plan Commenced EIS for RVPS > Heritage, cultural studies > Noise, visual impact studies > Flora and fauna studies > Ground hydrology studie

  13. Slide 13: 2007 Objectives

    2007 OBJECTIVES | > Continue CSG Well productivity optimisation » Develop 2P Reserves > 100Bcf >» Conventional » Complete seismic over leads identified > Drill at least one conventional well > Richmond Valley Power Station » DA approvals, Community consultations » Financial close March Qtr 07 >» Con

  14. Slide 14: Question and Answer Session

    _@ ~~ QUESTION AND ANSWER SESSION | )

Metgasco — Shareholder Meeting (November 2006) on 6ix