Melbana Energy Limited · ASX:MAY
Melbana Energy — Shareholder Meeting (November 2008)
22 slides from Melbana Energy's shareholder meeting presentation, Nov 13, 2008
Slide 1: Annual General Meeting of Shareholders
Presentation Disclaimer This presentation contains includes certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause tho
Slide 2: Agenda
Agenda 1 Introduction Warwick Bisley – Retiring Chairman 2 Items of business Item 1 3 Progress report on activities Jürgen Hendrich – MD & CEO 4 Items of business Items 2 - 5 5 Close of meeting Refreshments MEO Australia energy for the future MEO Australia Limited
Slide 3: Order of business, item 1
Order of business, item 1 Item 1. Financial Report “To receive and consider the Annual Financial Report for the year ended 30 June 2008 and the reports of the Directors and Auditor thereon.” MEO Australia energy for the future MEO Australia Limited
Slide 4: Review – a year in transition
Review – a year in transition New board of directors • Orderly succession planning • Well credentialed, diversity of disciplines Increased management depth • Broadened depth commensurate with enhanced activity & ambitions Enhanced project depth and potential • Declared 2x gas discoveries in Bonapart
Slide 5: New board
New board Position Name Appointed History Chairman Nick Heath 12th May ‟08 Chemical Engineer, >30 yrs (- Elect) ExxonMobil, Former chairman APPEA Non-Exec Greg Short 14th July ‟08 Geologist, 33 yrs with ExxonMobil. Director Extensive international experience Managing Jürgen Hendrich 25th July ‟08 Pe
Slide 6: Expanded management capability
Expanded management capability Position Name Appointed History CEO Jürgen Hendrich 16th June ‟08 Petroleum Geologist (12 yrs, ExxonMobil) & Investment Banking (12 yrs) CFO Colin Naylor 5th Feb „07 FCPA >30yrs. Woodside (11 yrs), BHP /Co. Secretary (5yrs), RioTinto (7yrs). Exploration Dave Maughan 5t
Slide 7: Targeting gas with real commercial options
Targeting gas with real commercial options Bonaparte Basin Carnarvon Basin Tassie Shoal (50%-90%) NT/P68 (90%-100%) WA-360-P (60-70%) WA-359-P (60-70%) WA-361-P (35%) Approved GTL Projects 12,070 km2 Drill/drop 1-Jan-09 Drill/drop 1-Jan-09 Environmental Approvals Heron North (90%) Zeus Prospect West
Slide 8: Bonaparte Basin – gas quality issues
Bonaparte Basin – gas quality issues Commercial impediments • Gas quality: Dry, Dirty (CO2) • Location: Distant, Deep, Disputed • JV issues: Dysfunctional • Single project vs regional Hub MEO’s solution • Tassie Shoal - the future hub – CO2 converted to methanol – Proximal to gas discoveries – Avoid
Slide 9: Tassie Shoal – an ideal Hub
Tassie Shoal – an ideal Hub GTL Projects – with Approvals! • Integrated solution for CO2 • Substantial CAPEX savings • Environmental approvals secured (EPBC Act) until 2052 • Tassie Shoal Methanol Project – 2 x 1.75 Mtpa • Timor Sea LNG Project – 3 Mtpa • Fast-track to market • Un-disputed Australia
Slide 10: Tassie Shoal LNG – a viable alternative
Tassie Shoal LNG – a viable alternative Estimated costs * Land-based Tassie Shoal LNG Potential (US$M) LNG (approved) Savings Plant Costs 1,549 1,070 479 Pipeline 943 288 655 LNG Tank 300 308 (8) Loadout/Jetty 200 236 (36) Project/Owners Costs (8.5%) 252 161 91 Total Project Cost 3,244 2,063 1,181 •
Slide 11: Carnarvon Basin – highly prospective
Carnarvon Basin – highly prospective Base Map: Top Triassic Depth WA-359-P WA-361-P Zeus-1 WA-360-P Persephone o Eris Hebe Prospect Lead Scale Gas Field 20 km Oil Field MEO Australia energy for the future MEO Australia Limited
Slide 12: Zeus: multi-Tcf potential, nearby analogue
Zeus: multi-Tcf potential, nearby analogue Zeus Perseus (WA-361-P) (NWS GP) Zeus-1 (35%) - Potential GIP >10 TCF - MEO paying 20%* - Rig expected late Nov - Drilling December * To US$31.25m cap MEO Australia energy for the future MEO Australia Limited
Slide 13: Artemis Lead - amplitude extraction
Artemis Lead - amplitude extraction Legendre sandstone Base Map: Top Triassic TWT MEO Australia energy for the future MEO Australia Limited
Slide 14: Summary
Summary • People – New board and enhanced management team • Projects – Greater portfolio depth, rigorous technical evaluation • Discoveries – Bonaparte Basin gas discoveries require further appraisal • Tassie Shoal – Hub Concept – An economic „game changer‟ – Enhances economics for ALL players in re
Slide 15: Order of business, items 2 & 3
Order of business, items: 2 & 3 Item 2. Remuneration Report (non-binding, advisory vote) To consider and, if thought fit, pass the following non-binding resolution as an ordinary resolution: “That the Remuneration Report for the year ended 30 June 2008 be adopted.” Item 3. To re-elect and elect Dire
Slide 16: Order of business, items 4 & 5
Order of business, items: 4 & 5 Item 4. Grant of Options to Directors To consider and, if thought fit, pass the following resolutions as ordinary resolutions: a) Grant of Options to Mr Michael J F Sweeney “That the Company approve for all purposes, including ASX Listing Rule 10.14, the grant of 1,00
Slide 17: Contact details
Contact details MEO Australia Limited Level 17, 500 Collins Street Melbourne 3000 Australia T: +61 3 9614 0430 F: +61 3 9614 0660 E: admin@meoaustralia.com.au W: www.meoaustralia.com.au MEO Australia energy for the future MEO Australia Limited
Slide 18: Additional information
Additional information MEO Australia energy for the future MEO Australia Limited
Slide 19: Methanol – a CO2 sink
Methanol – a CO2 sink Carbon Sequestration by the Steam Methane Reforming (SMR) Methanol Process • Gas Reforming: 3 x [CH4 + H2O => CO + 3H2] + [CO2 + H2 => CO + H2O] ie 3CH4 + CO2 + 2H2O => 4CO + 8H2 • Methanol Synthesis: 4CO + 8H2 => 4CH3OH • 1 mol CO2 with 3 mols CH4 is ideal for synthesis to met
Slide 20: Tassie Shoal GTL Projects
Tassie Shoal GTL Projects An integrated solution for CO2 challenged gas Tassie Shoal 680 Tj/d 10% CO2 472 Tj/d Raw gas Field CO2 LNG 0% CO2 LNG Plant Processing Separation Pipeline 3.0 Mt/y 34 Tj/d Fuel (LNG) 10% CO2 173 Tj/d LPG & Methanol Condensate 26% CO2 Plant Methanol 1.75 Mt/y Requires ~4.7 T
Slide 21: Conventional CGS substructure
Conventional CGS substructure Technical specifications Capacity: 5,000 tpd, 1.75 Mtpa DPT/JM SMR process Can convert high CO2 gas (20%-35%) CGS dimensions: 35m tall, 200,000 t - Base: 170m x 93m - At top:180m x 100m (wave deflection) Installed in 14m water depth Concrete deck for process plant Topsi
Slide 22: LNG plant – standard technology
LNG plant –standard technology Technical specifications 3 Mtpa (EPBC approved) -APCI DMR process -Indirect seawater cooling Ace platform (ARUP Energy) -100x50x8m -15m water depth Topsides 15,000 t Single 170,000 m3 storage tank Torp HiLoad loadout system - Avoids tugs & jetty Hang Tuah platform, Ind