Australis Oil & Gas Ltd. · ASX:ATS
Australis Oil & Gas — Shareholder Meeting (May 2024)
25 slides from Australis Oil & Gas's shareholder meeting presentation, May 14, 2024
Slide 1: Chairman's Address and Company Presentation Material 2024 AGM
ASX Announcement 14 May 2024 For Immediate Release Chairman’s Address and Company Presentation Material 2024 Annual General Meeting Please find attached to this document a copy of the Chairman’s address and the presentation that will be provided by Australis Oil & Gas Limited today at its Annual Gen
Slide 2: Chairman's Address – 2024 Annual General Meeting
Chairman’s Address – 2024 Annual General Meeting Welcome to the 2024 AGM of Australis Oil & Gas. Thank you to those in attendance today whether in person or online. Last year I referenced the timeframe for delivery of the returns we seek for investors as being longer than expected. Unfortunately, I
Slide 3: 2024 AGM Presentation
For personal use only ASX: ATS 2024 AGM Presentation 14 May 2024
Slide 4: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation has been prepared by Australis Oil & Gas Limited ACN 609 262 937 (ASX: ATS) (Australis). Summary of information: This presentation contains general and background information about Australis’ activities current as at the date of the presentation and
Slide 5: 2023 ESG and Financial results
2023 ESG and Financial For personal use only results NOT FOR DISTRIBUTION OR RELEASE IN THE US 3
Slide 6: ESG summary - 2023
ESG summary - 2023 Australis reported another year of safe operations and reduced emissions Employee Safety Performance Strong safety culture for field operators resulted in 2023 2022 another exemplary performance with no safety For personal use only Near Miss 1 0 incidents over 4,194 workdays. Fi
Slide 7: Fiscal summary 2023
Fiscal summary 2023 Solid 2023 fiscal performance continues to support strategic objectives Financial results Units 2023 Strong fiscal results during 2023 For personal use only Sales Volume Bbls 277,000 Net Debt at $4.2 million at 31 December Average Realised PriceA US$/bbl 78 2023 Average Achie
Slide 8: 2023 Operating Costs
2023 Operating Costs Our focus has been on operated costs Australis as a small operator, active in an area that remote to the major oil field service centers. Access to services and longer lead times can add to cost price pressure. For personal use only − Overall Opex has been maintained through 2
Slide 9: Driving down workover frequency
Driving down workover frequency Driving down well workover frequency – key to extending field life and minimise operating costs Workover costs are a significant portion of Australis operating budget. Workover frequency has been a key focus for the operations team over past 7 years to extend For
Slide 10: TMS Asset Description
TMS Asset Description For personal use only NOT FOR DISTRIBUTION OR RELEASE IN THE US 8
Slide 11: The Tuscaloosa Marine Shale History & entry case
The Tuscaloosa Marine Shale History & entry case Australis believes that the TMS is one of the last discovered, delineated but undeveloped quality unconventional oil play remaining in the Lower 48. Large depositional area in Louisiana and Mississippi Historically well known as a source rock with
Slide 12: Australis TMS Asset
Australis TMS Asset The TMS has all of the key attributes necessary for an attractive full field development A delineated but undeveloped quality oil play is very scarce onshore in the USA For personal use only Existing established unconventional oil plays are increasingly mature – quality futur
Slide 13: Strategic Position with Scale in TMS Core – Q1 2024
Strategic Position with Scale in TMS Core – Q1 2024 Australis controls the core area and is largest lease holder in the play Large contiguous land position in the TMS Core with ~58,700 net acres (none on federal lands) providing strategic control and operational benefits. TMS Asset Profile Mississ
Slide 14: Industry Dynamics
Industry Dynamics For personal use only NOT FOR DISTRIBUTION OR RELEASE IN THE US 12
Slide 15: Recent Trends in US Onshore E&P
Recent Trends in US Onshore E&P After a period of Capital Discipline and consolidation, when will US Operators look outside of their existing assets? Capital Discipline & Shareholder return – the industry has successfully adopted this change in business strategy For personal use only Operators c
Slide 16: Capital Discipline – Reinvestment Rate vs F&D cost
Capital Discipline – Reinvestment Rate vs F&D cost Public companies focus solely on shareholder returns. Reinvestment rates are lower Production maintenance at minimum cost. For personal use only Maximise existing inventory and asset base (infill drilling , Tier 2 locations, utilize DUCs and EOR
Slide 17: Well Performance is declining
Well Performance is declining Average Well productivity is declining in the largest oil basin – The Permian (Delaware & Midland) For personal use only 2014 TMS well performance Analysis from Novilabs shows productivity change in the two top counties of the Delaware Basin (Lea & Eddy) and the Midla
Slide 18: Consolidation Occurring in Established Basins
Consolidation Occurring in Established Basins A very significant period of consolidation in the established onshore plays with over US$100bn in the Permian alone Date Acquiror Target Basin US$Billion Oct 2023 ExxonMobil Pioneer Natural Resources Permian $64.5 Feb 2024 Diamondback Energy Endeavor Ene
Slide 19: Consolidation Occurring in Established Basins
Consolidation Occurring in Established Basins Example - Diamondback’s $26 Billion acquisition of Endeavor Resources For personal use only 2014 TMS Avg: 21,400 bbl/1,000 ft With most of the consolidation being completed in mature oil basins like the Permian, Operators that need to add premium drillin
Slide 20: Industry exploration and re-appraisal activity
Industry exploration and re-appraisal activity There have been recent indications of some public companies either appraising the fringes of existing plays or reassessing areas that have been passed over historically Examples of publicly disclosed activities include − EOG and others announcing thei
Slide 21: Update on Business Development
Update on Business For personal use only Development 19
Slide 22: Australis strategy
Australis strategy The business strategy for Australis has been consistent since IPO 2016 - 2019 2020 - present For personal use only Repackage asset and secure a Secure a material position in a Seek to monetise value for partner to fund further field quality US unconventional oil shareholders throu
Slide 23: Summary
Summary Although it has taken patience as time frames have extended, Australis is in a unique position to create value 2023 Results For personal use only Production Fiscal Netback $7.5mm EBITDA $1.0mm 277,000bbls 0 Lost Time 1 Minor 0.067 mt EHS Incidents Reportable Spills CO2e/boe Asset • ~59,000 n
Slide 24: Footnotes
Footnotes 1. All estimates and risk factors taken from Ryder Scott, report prepared as at 31 December 2023 and generated for the Australis concessions to SPE standards. See ASX announcement released on 31 January 2024 titled “Activities Report and Tear End Reserves Update”. Australis is not aware of
Slide 25: Glossary
Glossary Unit Measure Unit Measure B Prefix - Billions bbl Barrel of oil MM or mm Prefix - Millions boe Barrel of oil equivalent (1bbl = 6 mscf) M or m Prefix - Thousands scf Standard cubic foot of gas /d Suffix - per day Bcf Billion standard cubic foot of gas Abbreviation Description Abbreviation D