Pilot Energy Limited · ASX:PGY
Pilot Energy — Shareholder Meeting (February 2017)
14 slides from Pilot Energy's shareholder meeting presentation, Feb 28, 2017
Slide 1: Presentation to Annual General Meeting
For personal use only Presentation to Annual General Meeting Iain Smith, Managing Director 28 February 2017
Slide 2: Disclaimer
Disclaimer For personal use only This presentation may contain certain statements and projections provided by or on behalf of Pilot Energy Ltd (PGY) with respect to the anticipated future undertakings. These forward-looking statements reflect various assumptions by or on behalf of PGY. Accordingly,
Slide 3: Since the 2016 AGM…
Since the 2016 AGM… ü Established a leading prospective resource position among peer companies; combined For personal use only potential of up to 4,415 Million Barrels of Oil Equivalent (MMBOE) ü Secured position as largest net acreage holder in Perth Basin ü Maintained manageable work commitments ü
Slide 4: Strategy
Strategy § Build a leading junior E&P company, by developing a diverse portfolio of high quality For personal use only upstream petroleum assets § Counter-cyclical investment strategy, developing project portfolio at low cost ahead of continued industry turnaround § Add value through low cost studie
Slide 5: Project Portfolio
Project Portfolio WA-507-P For personal use only § Huge potential deepwater play § Very significant prospective WA-503-P oil & gas resources § Three large prospects on § Increasing industry interest established oil trend in oil play § Low cost 3D seismic survey § No drilling commitment until planned
Slide 6: WA-481-P: Offshore North Perth Basin
WA-481-P: Offshore North Perth Basin Geraldton Dunsborough oil 114°30' E Acquired mid 2016 115°00' E § For personal use only discovery 6 MMBbls Dongara § Operator and 60% working interest gas field Waitsia 450 Bcf gas field § Very large permit in shallow water Frankland gas 34429°00' Bcf S discovery
Slide 7: EP416 & EP480: Southern Perth Basin
EP416 & EP480: Southern Perth Basin For personal use only § Operator and 60% interest 116°00' E Mandurah § Conventional onshore gas play W.A. § Play confirmed by existing seismic and Pinjarra-1 Map Location wells § Leschenault prospect has potential for up 50 00 5 0 0 50 00 to 1.6 TCF gas 4 4 5 0 Da
Slide 8: EP437: Northern Perth Basin
EP437: Northern Perth Basin § 13% interest (Operator Key For personal use only 114°30' E 115°00' E Petroleum) § On trend with multiple significant oil W.A. Geraldton & gas discoveries Map Location § Multiple prospects identified § Wye Knot oil prospect to be drilled Wye Knot in 2017 Mt Hill 29°00' S
Slide 9: WA-507-P: Northern Carnarvon Basin
WA-507-P: Northern Carnarvon Basin § Operator and 80% interest For personal use only § Large block within prolific Northern Carnarvon Basin gas province Statoil: WA-506-P § Primary term seismic license commitment fulfilled § No significant commitments until “Drill or Drop” decision by November 2019
Slide 10: WA-503-P: Inboard North West Shelf
WA-503-P: Inboard North West Shelf § Operator and 80% interest For personal use only § Located in shallow water on Legendre oil trend § Three prospects identified on existing 3D seismic data § Prospective resources independently confirmed by GCA § Individual prospect prospective resources up to 73 M
Slide 11: Prospective Resources
Prospective Resources For personal use only Permit Oil/Gas Low Case Best Case High Case MMBOE MMBOE MMBOE WA-507-P Oil/Gas 604 1,581 3,600 WA-481-P Oil (Gas) 138 248 436 WA-503-P Oil 16 46 107 EP416/480 Gas 45 121 266 EP437 (Wye Oil 0.2 1.4 6.1 Knot) Total 803 1,997 4,415 Notes: 1. All quoted prospe
Slide 12: Independent Expert's Valuation
Independent Expert’s Valuation For personal use only BDO Corporate Valuation Low Value Preferred High Value Cents per Value Cents per share Cents per share share Value of Pilot Energy following completion of 0.38 0.62 0.88 the Transaction (cornerstone investment) on a minority basis RISC Asset Valua
Slide 13: In Summary
In Summary § Leading prospective resources position among peers For personal use only § Managing risk through portfolio diversity and low work commitments § Experienced team with solid track record and significant personal investment in company § Delivering against a clear, counter-cyclical growth s
Slide 14: For personal use only
For personal use only www.pilotenergy.com.au 13