Strike Energy Limited · ASX:STX
Strike Energy — Strike Oil — Investor Presentation (June 2009)
19 slides from Strike Energy's investor presentation, Jun 30, 2009
Slide 1: Corporate Presentation
Strike Oil Limited ABN 59 078 012 745 30 June 2009 For personal use only The Company Announcement Officer Australian Stock Exchange Ltd via electronic lodgement OUR STRENGTHS CORPORATE PRESENTATION Producer/explorer Find attached updated corporate presentation including additional with strong cash
Slide 2: High Margin Producer - Multiple Growth Opportunities
For personal use only HIGH MARGIN PRODUCER - MULTIPLE GROWTH OPPORTUNITIES June 2009
Slide 3: Disclaimer
DISCLAIMER For personal use only This presentation does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. Reliance should not be placed on the
Slide 4: The Company
THE COMPANY For personal use only A successful oil and gas explorer and producer with operations focussed on the most productive basins in the USA and Australia
Slide 5: Value proposition
Value proposition THE COMPANY For personal use only CASH AND USA PRODUCTION A$ Million Cash and investments 16 Underwrites STX NPV of USA production (10 – 15% disc.) 47 - 53 market capitalisation Total value (net of debt) 55 - 61 Plus Substantial Option Value... Asset STX Share COAL SEAM GAS Souther
Slide 6: Capital position
Capital position THE COMPANY For personal use only As at 29 June 2009 Shares on issue (ASX: STX) million 328.6 Options on issue million 12.1 Current share price A$ 0.185 Market capitalisation A$ million 61 Cash and listed investments A$ million 15.8 Debt (4 year repayment schedule) US$ million 6.3 E
Slide 7: Gulf Coast – a great place to find oil & gas
Gulf Coast – a great place to find oil & gas USA BUSINESS UNIT For personal use only Vast petroleum infrastructure Ready access to market (discovery to sales – 2 months!) US gas pricing premium
Slide 8: Major onshore Gulf Coast discoveries
Major onshore Gulf Coast discoveries US BUSINESS UNIT For personal use only - PRODUCTION TWO PRODUCING FIELDS: Rayburn and Mesquite (estimated ultimate recovery: 61 Bcfe) CURRENT RESERVES Primarily Middle Wilcox Total proved: 41.3 Bcfe (Dec 08): STX share: 9.1 Bcfe PROSPECTIVE RESOURCE Poten
Slide 9: Gulf Coast – high margin production
Gulf Coast – high margin production USA BUSINESS UNIT For personal use only - PRODUCTION STX share of production - 970 boe/day (8 mmcf gas, 170 bbl condensate/day) $A1.4 million monthly revenue @ US$70/bbl, US$3.50/mcf Operating margins 65 – 70%: profitable at depressed oil and gas prices MIDD
Slide 10: Delivering first class exploration results
Delivering first class exploration results USA BUSINESS UNIT For personal use only - EXPLORATION RECORD TO DATE – RAYBURN & MESQUITE Tested targets with 200 Bcf pre-drill potential Result: 61 Bcfe delivered into 1P reserves (estimated ultimate recovery) PARTNER Cypress E&P, successful operator
Slide 11: A pipeline of large scale new energy supply options
A pipeline of large scale new energy supply AUSTRALIAN options For personal use only BUSINESS UNIT CONVENTIONAL NON-CONVENTIONAL OFFSHORE OIL (GAS) COAL SEAM GAS Baniyas: Southern Cooper: STX 40%, Operator STX 66.7%, Operator Oil case potential: CSG prospective in-situ resource 9 - 47 million boe
Slide 12: Major strategically located Coal Seam Gas potential – Southern Cooper
Major strategically located Coal Seam Gas potential AUSTRALIA For personal use only – SOUTHERN COOPER LARGE SCALE Shallowest extensive Cooper Basin Permian coals Gross 8,000-20,000 PJ’s in place prospective gas resource (5,000 - 13,000 PJ’s to Strike’s interest) PIPELINE TO MARKET IN PLACE - LOW
Slide 13: Extensive thick coals – Southern Cooper
AUSTRALIA Extensive thick coals For personal use only – SOUTHERN COOPER 100 kms Resource definition - 2009/10 Drill three evaluation wells: (1,000 - 1,600 metres) Establish CSG reserves
Slide 14: Key attributes of a Coal Seam Gas project
Key attributes of a Coal Seam Gas project AUSTRALIA For personal use only – SOUTHERN COOPER Numerous coal seams up to 18 metres thick. Composite thickness Thick coal seams up to 80 metres Attributes Laterally extensive 1,800 sq kms (or 450,000 acres) in PEL 96 reasonably coal seams well known Depth
Slide 15: One of the best undrilled oil targets in shallow water Carnarvon Basin
One of the best undrilled oil targets in shallow AUSTRALIA water Carnarvon Basin For personal use only – BANIYAS VALUE 9-47 million barrels of oil equivalent potential Seismic amplitude conforms with structure 150 million barrels produced from adjacent fields NEXT STEPS Secure rights over en
Slide 16: A history of discovery
A history of discovery TRACK RECORD OF For personal use only SUCCESS 1996 – Commenced exploration activities as private E&P company 2003 – Discovery of Casino gas field (Otway Basin): 250 Bcf 2003 – Casino sold and funds returned to shareholders 2004 – Comet Ridge; multi Tcf CSG play – capital retur
Slide 17: Multiple growth opportunities
Multiple growth opportunities THE COMPANY For personal use only Activities – 2009/10 Established production Drilling Potential expansion Potential corporate dealing
Slide 18: Multiple growth opportunities
Multiple growth opportunities BUILDING ON For personal use only SUCCESS Market capitalisation underpinned by USA production and cash on hand Australian Coal Seam Gas, USA conventional gas and other exploration assets provide multiple value add positions Changed business environment provides fo
Slide 19: JORC Compliance Statement – FuturGas Resource
www.strikeoil.com.au For personal use only ASX Code: STX JORC COMPLIANCE STATEMENT – FUTURGAS RESOURCE The FuturGas coal resources presented in this report are located at Kingston South Australia and have been classified and reported in accordance with the JORC code. The JORC resource estimate is co