Bengal Energy Ltd. · TSX:BNG
Bengal Energy — Investor Presentation (April 2021)
32 slides from Bengal Energy's investor presentation, Apr 21, 2021
Slide 1: Bengal Energy Ltd. Corporate Presentation
Bengal Energy Ltd. Corporate Presentation | Calendar Q2 - 2021
Slide 2: Contents
Contents 1 Executive Summary page 3 2 Growth Focus page 5 3 Operations page 9 4 Corporate Synopsis Page 20 5 Appendix page 22 Corporate Presentation | April 2021 2
Slide 3: Executive Summary
Executive Summary 1 3
Slide 4: Executive Summary
Executive Summary Bengal is an Australian focused oil and gas exploration and production company listed on the TSX Shares Outstanding & Share Price Cooper Basin producing, development and exploration 433 MM; C$0.08 (as at 31-Mar-2021) assets receiving world-class commodity prices (oil at a premium t
Slide 5: Growth Focus
Growth Focus 2 5
Slide 6: Near Term Growth Prospects
Near Term Growth Prospects All prospects tied into existing gathering network prepared for immediate commercialization Cuisinier PLs 303 & 1028 PCAs 206 & 207 Wareena (100%, BNG operated) Restarting shut-in historical producer wells from the Permian Toolachee, tied into a pipeline to be ATP 934 Barr
Slide 7: Bengal Near Term Growth Plan
Bengal Near Growth Term Plan ATP 934 and recently acquired PLs will drive near-term development plan through a mix of 100% owned and operated low-risk development and fully-carried exploration drilling supported by Cuisinier high-netback de-risked production adds Low risk 100% W/I development Carrie
Slide 8: Mid to Long-Term Growth Plan
Mid to Long-Term Growth Plan Near term capital program expected to create a stable production and cashflow base and positions BNG to access lower cost capital to finance larger scale development, appraisal and capital programs that will follow on the successful near-term campaign ATP 934 farm-out bl
Slide 9: Operations
Operations 3 9
Slide 10: ATP 934 Barrolka
ATP 934 Barrolka Bengal Energy 100% WI 3.1
Slide 11: ATP & Acquired PL Deal
ATP 934 & ACQUIRED PL DEAL Central to the Permian Wet Gas fairway and neighbouring producing gas fields and gas pipelines with tie-in ready access to Eastern Australian gas market. Acquired 4 complementary PLs Wareena, Ramses, Ghina, Karnak with found Bengal Prospects Whanto: 2.7 BCF(1) gas and easi
Slide 12: ATP 934: Farm-Out Block
ATP 934: Farm- Out Block Financing high impact exploration through farm-out to Santos – basin leader in gas exploration and development Santos approached Bengal to farm-in on the southern portion of ATP 934 based on recent success in neighboring fields Legbar carried exploration: Santos will drill a
Slide 13: Offset Activity & Bengal Prospects
Offset Activity & Bengal Prospects Recent neighboring drilling success suports Legbar exploration + future development of Southern farm-out block and Bengal 100% exploration on Northern block ATP 934 Santos Farm-in Area Ghina PL Legbar #1: JV Partner Bantam 1 identified prospect On production throug
Slide 14: Cuisinier PL 303
Cuisinier PL 303 Santos 54.6% WI (Operator) Bengal Energy 30.4% WI Bridgeport Energy 15% WI 3.2
Slide 15: Cuisinier PL - Overview
Cuisinier PL 303 - Overview Established producing field with significant reserves and production upside from multi-well appraisal and development drilling campaign and waterflood program. • Historical production of >3.8 MMbbls to date Proposed Well Locations • 2P Reserves (net) of 5.5 MMbbls (as at
Slide 16: Cuisinier PL - Chef Exploration Well
Cuisinier PL 303 - Chef Exploration Well Chef exploration well to target multiple formations with objective of unlocking significant development upside in H1 2022 Chef NFE Location - Birkhead Formation Chef • Targeting multiple horizons with drilling expected H1 2022 • Unique target to the Cuisinier
Slide 17: Production, Sales & Reserves
Production, Sales & Reserves A large and established light oil reserve base supporting long-life production. Production & Sales Reserves (net to Bengal as at 31 March 2020) Net Oil Reserves (Mstb) 1P 2P 3P Producing 364 471 574 Developed Non-producing 19 33 44 Undeveloped 1,697 4,990 9,960 Total 2,0
Slide 18: AC/RL 10 Katandra
AC/RL 10 Katandra PTTEP 90% WI (Operator) Bengal Energy 10% WI 3.3
Slide 19: AC/RL 10 Katandra
AC/RL 10 Katandra Bengal holds a 10% working interest in AC/RL 10 located offshore in the Vulcan Sub Basin of the Timor Sea. Recent discoveries along trend at Dorado, Roc, Phoenix & Orchid and the soon to be drilled Buffalo attic oil project have created renewed interest. AC/RL 10 Katandra Unrisked
Slide 20: Corporate Synopsis
Corporate Synopsis 4 20
Slide 21: Why Bengal? Reasons to Own Bengal Energy Today
Why Bengal? Bengal offers a unique combination of high potential impact exploration in a stable jurisdiction, along with production and a cash flow stream that has room to grow. Reasons to Own Bengal Energy Today Strategy Right Hydrocarbon Jurisdiction Production, development and Expand Develop expl
Slide 22: Appendix
Appendix 22
Slide 23: Experience in Australia
Experience in Australia 15+ years' experience exploring for and producing hydrocarbon assets in Australia • Acquisition of 4 PLs Transformational Canadian listed TSX offsetting ATP 934 (with organic growth company [BNG] formerly Avery Resources Inc. found gas & oil) and gas campaign Gazettal acquisi
Slide 24: Management
Management A leadership team with substantial oil and gas experience. Chayan Chakrabarty, PhD Jerrad Blanchard, CA, CPA Kai Eberspaecher MEng MBA Richard Edgar, B. Sc., P. Geol. (Petroleum Engineering), MBA CEng FIChemE FAPM President, CEO & Director Chief Financial Officer Australia Country Manager
Slide 25: Board of Directors
Board of Directors A leadership team with substantial oil and gas experience. Chayan Chakrabarty, PhD, MBA Ian Towers, P.Eng Peter Gaffney, P.Eng, P.Geol James Howe, CA President, CEO & Director Chairman of the Board Director Director Mr. Chakrabarty has been involved in the oil Professional enginee
Slide 26: Permit Listing
Permit Listing Barrolka - ATP 934 & PL 114 Wareena, PL 157 Ghina, PL 188 Ramses, PL 411 Karnak Cuisinier PLs 303 & 1028 (100% WI and Operator) PCAs 206 & 207 • Large, undrilled acreage holding in prolific Western Queensland Permian Wet Gas fairway. (100 bbls/mm liquids) with 4 prospects mapped on AT
Slide 27: ATP 934 Post Relinquishment Map
ATP 934 Post Relinquishment Map Strategic regulatory relinquishment was 50% of ATP 934 = 181,771 acres effective Feb. 28, 2021 Strategy applied to agree the relinquishment and accept the remaining high graded position of 179,499 acres with a six (6) year permit extension to Feb 28, 2027 including ou
Slide 28: Net Asset Value (NAV)
Net Asset Value (NAV) Based on March 31, 2020 reserves report prepared by GLJ March 31, 2021 reserve report expected to be released in June 2021 • Total Company Proved & Probable $CDN Before Tax $AU Before Tax 10% NPV ($m) 10% NPV ($m) Working Interest reserves only, no value Proved Reserves $ 36,23
Slide 29: Work Commitments
Work Commitments The Queensland Government regulatory authority granted the Company ATP 934 under a revised work program on March 1, 2015. The Company acquired an additional 21.43% working interest and received ministerial approval for the acquisition on August 11, 2015. In Q4 fiscal 2018, the Compa
Slide 30: Glossary
Glossary Item Description Item Description API American Petroleum Institute OOIP Original oil in place ATP Authority to Prospect PCA Potential Commercial Area AU$ Australian Dollars PLs Petroleum Lease BCF Billions of standard cubic feet of gas PSTM / PSDM pre stack time migration / pre stack depth
Slide 31: Forward-looking statements, cautionary statements and oil & gas advisories
Forward-looking statements, cautionary statements and oil & gas advisories • Certain information regarding Bengal Energy Ltd (“Bengal” or the “Company”) set forth in this document contains forward-looking statements or financial outlooks (collectively, "forward-looking statements") under applicable
Slide 32: Forward-looking statements, cautionary statements and oil & gas advisories (continued)
Forward-looking statements, cautionary statements and oil & gas advisories (continued) • Analogous Information: Certain noted drilling, completion, production, reserve and resource data provided in this document may constitute “analogous information” under applicable securities legislation, such as