Beetaloo Energy Australia Limited · ASX:BTL
Beetaloo Energy Australia — South East Asia Australia Offshore & Onshore Conference 2024
26 slides from Beetaloo Energy Australia's conference presentation, Sep 18, 2024
Slide 1: Empire Energy – The Beetaloo Basin Pioneer moving into Production
ASX:EEG Empire Energy – The Beetaloo Basin Pioneer moving into Production South East Asia Australia Offshore & Onshore Conference - September 2024
Slide 2: Corporate Snapshot
Corporate Snapshot Capital Structure ASX Share Price Shares on issue1 1,017.2M Share price A$0.23 Market cap A$234.0M Net (debt2) / cash3 ~A$45.3M Enterprise value ~A$188.7M Cash at bank3 ~A$51.6M Top Shareholders Contingent and Prospective Resources Pangaea Resources 13.8% 2C Contingent Resources 1
Slide 3: Empire Energy Investment Case
Empire Energy Investment Case The Beetaloo Basin Focused Gas Development Company • The Beetaloo’s Velkerri Shale is an enormous (>500 TCF) low CO2 shale gas resource located in Northern Australia close to Asian LNG markets and existing export infrastructure • The Beetaloo is a stacked shale play wit
Slide 4: Empire Energy Investment Case (Cont’d)
Empire Energy Investment Case (Cont’d) The Beetaloo Basin Focused Gas Development Company • Empire’s acreage contains >47 TCFe 2U resource and >1.6 TCF 2C resource independently assessed by NSAI with <1% CO2 • Recent appraisal drilling by Empire and other operators has demonstrated commercial viabil
Slide 5: Empire’s Beetaloo Basin Position
Empire’s Beetaloo Basin Position 5 TCF gas pilot ready Carpentaria Project with >20 TCF Western Beetaloo resource delineated • Empire is the largest net acreage holder in the Beetaloo • All acreage is 100% owned and operated by Empire • Acreage benefits from high Net Revenue Interest of ~85%1 vs typ
Slide 6: Positioned Across the Thickest Section of the Stacked Play
Positioned Across the Thickest Section of the Stacked Play Combined Thickness of A, Intra A/B, B and C Velkerri Shales • Empire’s Beetaloo Projects area located across the thickest section of stacked Velkerri Shale reservoirs in the basin • Carpentaria Project has >300 m gross thickness of A, Intra
Slide 7: Empire has High-Quality, Low CO2 Gas
Empire has High-Quality, Low CO2 Gas Empire’s Carpentaria gas composition meets Japanese customer specifications • Gas for the Ichthys LNG is supplied from the Brewster Member and the Carpentaria-2H Gas Composition - Mole % Plover Formations which comprise the Ichthys Gas Field Component Q3 2022 Tes
Slide 8: Empire’s Stacked Play Improves Development Economics
Empire’s Stacked Play Improves Development Economics Four Stacked Reservoirs Stacked Shale Play Development Concept Carpentaria-4 Empire’s four stacked shale Type Section Depth Gas reservoirs are 5x thicker Gamma Ray M (ft) 0 Saturation 100% than the prolific Marcellus Single Reservoir (5000) C Shal
Slide 9: Appraisal Activity has Delivered the Carpentaria Project
Appraisal Activity has Delivered the Carpentaria Project Cost-Effective Approach to Appraisal • Seismic, multi-stage vertical and horizontal flow tests have delineated a large stacked play • Four zones with a net effective area of >460,000 acres (~1,900 km2) • ~A$90m (~US$60m) invested has delivered
Slide 10: The Carpentaria Pilot Project
The Carpentaria Pilot Project Empire is targeting first production from Carpentaria in mid 2025 The Carpentaria Pilot Project aims to: • Produce sales gas from existing Carpentaria-2H and Carpentaria-3H test wells, C-5H and future pilot development wells • Process gas through Empire’s Carpentaria Ga
Slide 11: Carpentaria-5H
Carpentaria-5H C-5H will be the longest horizontal shale well, and the largest frack job executed in Australia • Empire is fully funded for C-5H and will be drilled in H2 2024 • C-5H will be drilled from the same well pad as Carpentaria-2H (“C-2H”) and Carpentaria-3H (“C-3H”) in 5 ½” casing Stylised
Slide 12: A Platform for Increased Productivity
A Platform for Increased Productivity Basin-specific drilling and completion methodologies are being developed to drive increasing flow rates and EUR consistent with the lived experience of the US Shale Revolution Drilled Appraisal Wells Future Pilot / Development Wells • Drilling 3km horizontal wel
Slide 13: Pathway to Full-Field Development of the Carpentaria Project
Pathway to Full-Field Development of the Carpentaria Project Year 2024 2025 2026 2028+ • Drill, fracture stimulate • Construct Carpentaria • Drill, fracture stimulate • ‘Factory’ drilling and connect Pilot Project midstream and connect a further Carpentaria-5H (3,000m facilities and gas ~3 wells (3,
Slide 14: Empire is a Responsible Operator with ESG at the Core of its Strategy
Empire is a Responsible Operator with ESG at the Core of its Strategy Empire’s Beetaloo gas contains sub 1% CO2 in the reservoir Environment • Carpentaria CO2 reservoir levels are extremely low compared to other new supply options • Empire will offset all Scope 1 emissions with minimal impact on rev
Slide 15: Government Supporting the Beetaloo
Government Supporting the Beetaloo NT Government has primary responsibility for regulation of the Beetaloo Basin Federal Labor Government is supportive of Beetaloo development NT Government supports the Development of the Onshore Gas Industry The Hon Lia Finocchiaro (Chief Minister of the Northern T
Slide 16: Australia, Asia and the World Need New Gas Supply
Australia, Asia and the World Need New Gas Supply Empire’s strategy is to supply domestic and international gas markets Phase 1: Northern Australian Gas Phase 2/3: Australian East Coast Phase 2/3: Global LNG Market Market Gas Market • Blacktip Gas Field: GSA to 2034 • Australian east coast domestic
Slide 17: 10 Year Binding Gas Sales Agreement with NT Government
10 Year Binding Gas Sales Agreement with NT Government Foundation gas sales agreement with investment grade customer underwrites pilot economics • Buyer: Northern Territory Government (Aa3, stable) • Volume / Term: • up to 25 TJ/d for 10 years (~75PJ total, net to Empire) • an additional 10 TJ/d+ fo
Slide 18: The Beetaloo is Strategically Located Near Asian Markets
The Beetaloo is Strategically Located Near Asian Markets Australian domestic gas and Asian LNG indices trade at multiples of US Henry Hub prices LNG Tanker Sailing Days to Tokyo Bay1 • Exposure to Pacific Basin gas prices • >US$10 / MMBtu premium to Henry Hub • Japan/Korea Marker (Platts) LNG price
Slide 19: The Empire Value Proposition
The Empire Value Proposition Phase 1 Phase 2 Phase 3 Carpentaria Pilot Project Domestic Gas Project Full-Field Development - LNG • Up to 25 TJ/d (24 mmcf/d) • ~200TJ/d (~190 mmcf/d) to • ~1 BCF per day to supply LNG supply Australian east coast export markets • Targeting first revenue in 2025 • Carp
Slide 20: Near-term Growth Catalysts
Near-term Growth Catalysts Empire is fully funded for the drilling and fracture stimulation of C-5H Key Near-term Catalysts 1. Carry out C-5H drilling, stimulation and well testing 2. Obtain Regulatory and Indigenous Approvals for sale of test gas under Beneficial Use of Test Gas law 3. Secure finan
Slide 21: ASX:EEG
ASX:EEG Alex Underwood Managing Director https://empireenergygroup.net/ info@empiregp.net 20 +612 9251 1846
Slide 22: Appendix 1: A Globally Significant Resource Position
Appendix 1: A Globally Significant Resource Position Contingent Contingent Resources Prospective Prospective Resources(Liquids) Resources (Gas) (Liquids) Resources (Gas) High High Low Estimate Best Estimate Low Estimate Best Estimate Low Estimate Best Estimate High Low Estimate Best Estimate High Es
Slide 23: Appendix 2: Empire’s Board of Directors
Appendix 2: Empire’s Board of Directors Peter Cleary Alex Underwood Karen Green Louis Rozman Prof. John Warburton Chairman Managing Director Non-Executive Director Non-Executive Director Non-Executive Director • Distinguished 29-year career • Associate Director Energy • Over 30 years’ experience in
Slide 24: Appendix 3: Large Western Beetaloo Resource
Appendix 3: Large Western Beetaloo Resource Comprehensive well and seismic datasets in the Western Beetaloo Project have defined a large extensive resource strategically located on existing infrastructure Resource has been delineated • Delineated ~2.6 million net effective acres • 100+ TCF OGIP Disc
Slide 25: Appendix 4: Conversion Table
Appendix 4: Conversion Table Exchange Rate US$ : A$ 0.65 Energy MCF : GJ 1.06 MMCF : TJ 1.06 BCF : PJ 1.06 GJ : TJ 1,000 GJ : PJ 1,000,000 Distance Feet : Metres 3.28 24
Slide 26: Disclaimer
Disclaimer This presentation has been prepared by Empire Energy Group Limited (“Empire” or the “Company”). The information in this presentation is information of a general nature and is subject to change without notice. The information in this presentation does not purport to be complete, nor does i
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