Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Investor Presentation (May 2009)
25 slides from Karoon Energy's investor presentation, May 27, 2009
Slide 1: Karoon Gas Update May 2009
Karoon Gas For personal use only update MaY 2009
Slide 2: Karoon Gas snapshot
2 Karoon Gas Australia Limited MaY 2009 Review Karoon Gas snapshot For personal use only n Approximately 149 million shares and 6 million options. n Market capitalisation approximately A$920 million @A$6.20. n Cash in bank A$90 million. n Karoon Inclusion in S&P/ASX 200 Index n Browse Basin drilling
Slide 3: Karoon Gas Australia's key personnel
3 Karoon Gas Australia Limited MaY 2009 Review Karoon Gas Australia’s key personnel For personal use only Board Technical Robert Hosking Executive Chairman Lino Barro Engineering Manager Founding Director of Karoon Gas with 30 years of 28 years’ experience in reservoir and development commercial exp
Slide 4: Australian Assets
4 Karoon Gas Australia Limited MaY 2009 Review Australian Assets For personal use only TIMOR Karoon Permit AC/P8 BAYU-UNDAN INDONESIA DARWIN Karoon Permit WA-314-P AUSTRALIA Karoon Permit WA-315-P LNG PLANT Poseidon-1 gas discovery ICHTHYS NORTHERN T E R R I TO RY TOROSA Karoon Permit Map Darwin WES
Slide 5: Browse Basin
5 Karoon Gas Australia Limited MaY 2009 Review Browse Basin For personal use only BHP Billiton GRACE P50 5.7tcf Argus Gas/condensate WA-314-P & WA-315-P field 2tcf ? (Karoon estimate) Abalone 1 Karoon 49% KONTIKI P50 7tcf ConocoPhillips 51% Phrixus 1 ARGUS Lead-E P50 5 tcf WA-314-P Buffon-1 Poseidon
Slide 6: Browse Basin - Poseidon-1 Gas Discovery
6 Karoon Gas Australia Limited MaY 2009 Review Browse Basin - Poseidon-1 Gas Discovery For personal use only Poseidon-1 well location and seismic section n The well has penetrated a 317m gross gas bearing Plover Formation. over the interval 4795 to 5112 mRT with three gross gas bearing sands totalin
Slide 7: Comparisons
7 Karoon Gas Australia Limited MaY 2009 Review Darwin Comparisons For personal use only Map area WA Fields Reserves v. Karoon’s Exploration and Appraisal Opportunities. Perth WOODSIDE’S NORTHWEST SHELF PROJECT n Allowing for some exploration success, there is potential in the Karoon acreage for the
Slide 8: Browse Basin acreage position
8 Karoon Gas Australia Limited MaY 2009 Review Browse Basin acreage position For personal use only WA‑314‑P and WA‑315‑P Karoon Gas Australia Ltd has entered into agreements to farm out up to a 60% interest in its Browse Basin permits to ConocoPhillips. Acquisition of 51% Interest Option to Increase
Slide 9: Indicative project concept
9 Karoon Gas Australia Limited MaY 2009 Review Indicative project concept For personal use only Karoon lng/condensate/lpg indicative development model economics (assuming a discovery of 7 tcf and based on independent third party design concepts). Field development, pipeline and LNG facilities schema
Slide 10: Combined net cash flow
10 Karoon Gas Australia Limited MaY 2009 Review Combined net cash flow For personal use only Karoon lng/condensate/lpg indicative development model economics. Net cash flow for combined offshore liquids removal and onshore LNG – 100% Share. 4000 PRRT begins 3000 2000 Exploration & Appraisal Net cash
Slide 11: Capex profile
11 Karoon Gas Australia Limited MaY 2009 Review Capex profile For personal use only Karoon lng/condensate/lpg indicative development model economics. Karoon 40% share – 2007 US dollars 1800 1600 CAPEX (US$million – 2007) Karoon share 1400 1200 1000 800 600 Karoon 20% only for 2 appraisal wells 400 K
Slide 12: Product revenues
12 Karoon Gas Australia Limited MaY 2009 Review Product revenues For personal use only Karoon lng/condensate/lpg indicative development model economics. Product revenues for combined offshore liquids removal and onshore LNG – 100% Share. 6000 5000 Product Revenues (US$million) 4000 3000 2000 1000 0
Slide 13: Market Update
13 Karoon Gas Australia Limited MaY 2009 Review Market Update For personal use only LNG SALES AGREEMENTS 2007, Woodside signed a Key Sales Terms Agreements with the Chinese for approximately 2TCF at a price of approximately A$9-10 billion per TCF for delivery over the next 20 years ex. Browse Basin.
Slide 14: AC/P8
14 Karoon Gas Australia Limited MaY 2009 Review AC/P8 For personal use only Location: Close to the Laminaria/ Corallina production facility with production tie in potential. Claudia NW JPDA 06-105 Claudia-1 Vidalia-1 Potential: Main prospect ‘Jania’ with up to 20mmbl potential prospective Kuda Tasi
Slide 15: Brasil Santos Basin
15 Karoon Gas Australia Limited MaY 2009 Review Brasil Santos Basin For personal use only Location: On trend with Caravella / SAO PAULO Merluza fields. OGX listed in Brazil Repsol new gas with a market cap of condensate discovery Atlanta Panoramix. Late Tambaú PJS-559 US$20billion raising US$3 billi
Slide 16: Brasil Santos Basin
16 Karoon Gas Australia Limited MaY 2009 Review Brasil Santos Basin For personal use only Petrobras BM-S-7 New Petrobras discovery Piracucá. S-M-1035 S-M-1036 S-M-1037 Norse Norse Karoon Cretaceous aged reservoirs Energy Energy Piracucá confirmed to contain 550 MMboe in S-M-1100 S-M-1101 S-M-1102 pl
Slide 17: Karoon Santos acreage
17 Karoon Gas Australia Limited MaY 2009 Review Karoon Santos acreage For personal use only Santonian Play Summary. n The salt related structural style in the Santos Basin creates large scale structures in Karoon’s acreage where high quality Santonian reservoirs Santonian are interpreted to be prese
Slide 18: Karoon Santos acreage
18 Karoon Gas Australia Limited MaY 2009 Review Karoon Santos acreage For personal use only 1-BRSA-607A 1-BRSA-658 Eocene Play Summary. new discovery new discovery n 1-SPS-56 Eocene discovery n Preliminary analyses; Oil’s specific gravity is 36 ºAPI (light). n Lined well production test at 2080m pro
Slide 19: Peru Tumbes Basin Z38
19 Karoon Gas Australia Limited MaY 2009 Review Peru Tumbes Basin Z38 For personal use only Location: Offshore Peru close to BPZ 12,000 bopd test in producing fields and discoveries. new pool discovery in Corvina Field Mach Potential: 2 main leads with 100 Armistad to 200mmbl oil or multi Tcf gas pr
Slide 20: Peru Tumbes Basin Z38
20 Karoon Gas Australia Limited MaY 2009 Review Peru Tumbes Basin Z38 For personal use only Seismic line example. n Clear gas DHI’s with amplitude ratio updip to down dip around 5 to 10 times.
Slide 21: Peru Maranon Basin
21 Karoon Gas Australia Limited MaY 2009 Review Peru Maranon Basin For personal use only Location: Onshore Peru close to existing infrastructure and producing fields. Potential: Leads with 50 to 250mmbls Situche Central prospective resource potential. Additional leads potential recognised but yet to
Slide 22: Conclusions
22 Karoon Gas Australia Limited MaY 2009 Review Conclusions For personal use only Australia South America n Karoon has grown rapidly in the last four years, evolving Karoon’s South American focus area work has resulted in into a company with a a world class acreage position Karoon acquiring good pro
Slide 23: DeGolyer & MacNaughton Assessment
23 Karoon Gas Australia Limited MaY 2009 Review DeGolyer & MacNaughton Assessment For personal use only Karoon (August 2008) engaged the services of international The PRMS reporting system provides uniform guidelines consulting company DeGolyer and McNaughton to provide for the evaluation and report
Slide 24: Disclaimer
24 Karoon Gas Australia Limited MaY 2009 Review Disclaimer For personal use only This presentation has been prepared by Karoon Gas Before making an investment decision, you should consider, Australia Limited for professional and sophisticated with or without the assistance of a financial adviser, wh
Slide 25: Index of terms
25 Karoon Gas Australia Limited MaY 2009 Review Index of terms For personal use only TCF: trillion standard cubic feet (1,000,000,000,000 cubic feet) Mmbls: Millions of barrels (1,000,000 barrels) Bbls: Barrels BOE: A means of expressing gas volumes in barrels of oil equivalent. (1BOE equals approx.
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