Buru Energy Ltd · ASX:BRU
Buru Energy — Investor Presentation (July 2017)
29 slides from Buru Energy's investor presentation, Jul 19, 2017
Slide 1: ASX Release: Corporate Presentation
ASX Release 19 July 2017 ABN 71 130 651 437 Level 2, 88 William Street For personal use only Perth, Western Australia 6000 Ph: +61 8 9215 1800 Fax: +61 8 9215 1899 www.buruenergy.com Corporate Presentation Buru Energy Limited provides the attached updated Corporate Presentation. Visit www.buruenergy
Slide 2: Corporate Presentation 19 July 2017
Corporate Presentation For personal use only 19 July 2017
Slide 3: Corporate Snap Shot
Corporate Snap Shot Capital Structure Share Register For personal use only Formed 2008 Ticker ASX:BRU Index S&P/ASX All Ords Shares on Issue ~340 million Share Price ~$0.17 Market Cap ~$58 million Cash on Hand ~$13.5 million (15 July 17) Board and Management 24 Month Price History Eric Streitberg Ex
Slide 4: Buru unleashed – driving the development of the Canning Basin
Buru unleashed – driving the development of the Canning Basin ✓ 100% ownership of oil production and exploration permits provides flexibility following acreage swap transaction with Mitsubishi For personal use only ✓ Immediate low risk development opportunity at Ungani Oilfield to significantly incr
Slide 5: Ungani Oilfield – Cornerstone Asset
Ungani Oilfield – Cornerstone Asset ▪ Ungani Oilfield in early stages of production with 2 producing wells on natural flow at ~1,250 bopd with pathway to 3,000 bopd For personal use only ▪ Independent review by GCA * confirms resources after ~600,000 barrels produced on free flow as follows: Ungani
Slide 6: Ungani Overall Development Program Phases
Ungani Overall Development Program Phases For personal use only Current Project Phase Phase 3 Phase 4 Hold production Production Rate Increase production to plateau at 3,000 bopd 3,000 bopd Phase 2 Current Production Increase production Target 1,250 bopd to 1,500 bopd PROJECT PHASE Drill Ungani 5 In
Slide 7: Exploration Prospect Portfolio
Exploration Prospect Portfolio Extensive high prospectivity portfolio For personal use only ▪ Proven oil play system over 150 kms in 100% acreage ▪ Range of prospect sizes up to world class potential ▪ Range of play types from proven Ungani Dolomite and Reeves discovery (UFW) to new high potential c
Slide 8: Gas and Unconventional Oil Resources
Gas and Unconventional Oil Resources Gas Resources (conventional and unconventional) For personal use only ▪ Buru has 100% of the Laurel Formation tight wet gas resources in Central, Northern and Western provinces ▪ Western Gas Province includes the Yulleroo Gasfield that has appraisal drilling, fra
Slide 9: Forward Strategy – Buru unleashed
Forward Strategy – Buru unleashed ▪ 2017/18 Ungani Accelerated Development Program with For personal use only potential to increase production to 3,000 bopd and provide 50% uplift in resource base ▪ Successful Ungani resource upgrade supports the development of Broome export facilities to significan
Slide 10: The Details
The Details For personal use only Ungani Forward Plan Activity Phases 1. Install artificial lift in producing wells (U1/U2) 2. Ungani 3 sidetrack - production restoration and resource confirmation 3. Drill Ungani 4 – independently confirmed low risk development well 4. Install artificial lift in Ung
Slide 11: Ungani Accelerated Development Program
Ungani Accelerated Development Program Phase 2 and 3 Objective: Increase oil production to 3,000 bopd and confirm volumes sufficient to commit to alternative export route For personal use only Activity Timing Expectation Install artificial lift system in existing September 2017 (subject to rig Maint
Slide 12: Ungani Accelerated Development Program – Phase details
Ungani Accelerated Development Program – Phase 2 details Production upgrade (Phase 2) For personal use only ▪ Install artificial lift system ‒ Standard oilfield practice as wells come off plateau production ‒ Two existing production wells (Ungani 1 and Ungani 2) have produced total of +600,000 bbls
Slide 13: Ungani Accelerated Development Program – Ungani 3
Ungani Accelerated Development Program – Phase 3 (Ungani 3) Ungani 3 For personal use only ▪ Initial Ungani 3 results very anomalous with thinner shale seal and apparent poor reservoir but oil column similar to Ungani main field ▪ Well produces oil at low rates ▪ Detailed review of 3D seismic and we
Slide 14: Ungani Accelerated Development Program – Ungani
Ungani Accelerated Development Program – Ungani 4 For personal use only 13
Slide 15: Ungani Accelerated Development Program – Ungani 4
Ungani Accelerated Development Program – Ungani 4 For personal use only ▪ Structurally updip (in time and depth) and 500m to the south of Ungani 1 ▪ Interpreted “attic” location will recover undrained oil as well as oil from main field closure ▪ 3D seismic mapping of field with depth conversion prov
Slide 16: Exploration Portfolio – Cautionary Statement
For personal use only Exploration Portfolio The following cautionary statement applies to all statements of prospective resources set out in this section and in the presentation generally. The referenced prospective resources are unrisked and calculated using probabilistic methods. Cautionary statem
Slide 17: Resource Setting
Resource Setting Oil ▪ High quality conventional reservoirs For personal use only ▪ Two principal petroleum systems ▪ Well defined prospects with systematic exploration program underway ▪ Prospects range from conventional sandstone reservoirs to large dolomite reservoir prospects Gas ▪ Basinwide tig
Slide 18: Prospect Summary – Rafael (EP428)
Prospect Summary – Rafael (EP428) Very large well defined Ungani Dolomite prospect ▪ Located 50km to the east of Ungani ▪ Well defined by modern good quality 2D seismic data (1km grid) For personal use only ▪ Many similarities to Ungani but much larger and deeper ▪ Laurel oil charge proven along the
Slide 19: Prospect Summary – Kilto (EP436)
Prospect Summary – Kilto (EP436) Well Defined Structural Ungani Dolomite prospect ▪ Located 50km west of Ungani, and 50km from Broome For personal use only ▪ Defined on Kurrajong 3D Seismic (also 2D seismic data) ▪ Close to oil source kitchen ▪ Large follow-up trend to the West) Reservoir Along Tren
Slide 20: Prospect Summary – Yakka Munga (EP428)
Prospect Summary – Yakka Munga (EP428) ▪ Major regional structure 11km by 4km, up to 1000m of vertical relief ▪ Top at 2300m (only 200m deeper than Ungani) For personal use only ▪ Large ancillary closure (YM Crest) in overlying Reeves and Anderson section with similar potential ▪ Ungani Dolomite tar
Slide 21: Hotdog Prospect (L8)
Hotdog Prospect (L8) New play type in Basin - Hydrothermal Dolomite (HTD) ▪ Adjacent to Sundown, Boundary, and Lloyd oil fields For personal use only ▪ Well defined on Bunda 3D ▪ HTDs are associated with major hydrocarbon production in North America. ▪ Enhanced secondary porosity in the form of vugs
Slide 22: Prospect Summary – Butler (EP129)
Prospect Summary – Butler (EP129) Laurel Conventional reservoir play ▪ Best seismic data quality on northern margin with distinct facies interpretation and depositional limit of sand to northeast defined by shelf For personal use only break ▪ Close to oil source kitchen (oil fields and shows in well
Slide 23: Oil Prospectivity – Broome Platform Goldwyer
Oil Prospectivity – Broome Platform Goldwyer Goldwyer prospectivity ▪ Broome Platform has extensive shale/reservoir pairs with For personal use only excellent oil source rocks ▪ Recent drilling by Finder Exploration at Theia 1 has defined a “sweet spot” in the Goldwyer Formation with many similariti
Slide 24: Laurel Formation Tight Gas - Yulleroo
Laurel Formation Tight Gas - Yulleroo Major gas and liquids accumulation on the western side of basin close to Broome and customers For personal use only ▪ Four wells define the accumulation - all intersecting thick gas saturated sections with gas below closure mapped on 3D Yulleroo 2 clean-up flow
Slide 25: Corporate
For personal use only Corporate
Slide 26: Community and Government Engagement
Community and Government Engagement Philosophy and practice for both conventional and unconventional activity For personal use only ▪ Education programs based on facts ▪ Support of independent expert advice for communities ▪ Extensive baseline studies & mapping ▪ Continuous, comprehensive and transp
Slide 27: Funding and Forward Program
Funding and Forward Program ▪ Cash: ~A$13.5 mm as at 15 July 2017 after most recent Alcoa For personal use only repayment ▪ Debt: Restructuring of outstanding unsecured Alcoa debt frees up balance sheet and aligns repayments with expected cash flows (refer ASX release of 6 July 2017) ▪ Cash flow: Ta
Slide 28: Disclaimer
Disclaimer This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru Energy"). This presentation contains certain statements which may For personal use only constitute "forward-looking statements". It is believed that the expectations reflected in these statements are reasonab
Slide 29: For personal use only
For personal use only 28