Otto Energy Limited · ASX:OEL
Otto Energy — Investor Presentation (March 2010)
21 slides from Otto Energy's investor presentation, Mar 3, 2010
Slide 1: Investor Presentation cover letter to ASX
For personal use only 3 March 2010 Manager of Company Announcements ASX Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 By E‐Lodgement INVESTOR PRESENTATION Please find attached the latest copy of Otto Energy Limited (ASX: OEL) investor presentation. Yours faithfully Emma McCormack Company Secreta
Slide 2: Investor Presentation March 2010
For personal use only Investor Presentation March 2010 Paul Moore CEO
Slide 3: Disclaimer
Disclaimer • This presentation does not constitute an offer to sell securities and is not a solicitation of an For personal use only offer to buy securities. It is not to be distributed to third parties without the consent of Otto Energy Ltd (the “Company”). • This presentation contains forward‐look
Slide 4: Company Overview – Asset Base
Company Overview – Asset Base For personal use only Details • 18.78% indirect interest • First Oil ‐ October 2008 Galoc Oil Field • More than 4.0 million bbls (gross) produced to date Philippines • Current production rate 10,000 to 11,000 bopd • Phase 2 development evaluation being undertaken • 35%
Slide 5: Otto Strategy
Otto Strategy Strategic focus: For personal use only • Production: • Maximise value from Galoc oil project • Deliver commercial production from Edirne gas project • Development: • Explore/appraise in and near field to extend production in Galoc and Edirne projects • Consider possible expansion at Ed
Slide 6: Board and Management
Board and Management For personal use only CHAIRMAN RICK CRABB BJuris (Hons), LLB, MBA DIRECTOR DIRECTOR DIRECTOR DIRECTOR RUFINO BOMASANG JAAP POLL IAN MACLIVER JOHN JETTER BSc (Min. Eng), MBE BSc, MSc and PhD Geology B.Com, CA, F Fin, MAICD B.Com, B.Econ, INSEAD B.Bus, CEO PAUL MOORE BSc (Hons) En
Slide 7: Capital Structure
Capital Structure Capital Structure Shareholders For personal use only Fully paid ordinary shares 1,070.2m Molton Holdings 19.7% Unlisted options1 111.1m Santo Holdings 19.7% Performance shares2 2.5m Directors 5.7% Shareholders ~3,900 Market capitalisation3 $107m Cash (at 31 December 2009) $18m Pric
Slide 8: Reserves, Resources and Exploration
Reserves, Resources and Exploration Developing Reserves And Resources Prospect And Lead Inventory For personal use only Otto Net 2P Reserves plus 2C Resources Licence Working Area Prospects/ (MMboe) Interest (km2) Leads As at 30 June 2009 9.00 Philippines 8.00 SC14C (Galoc) 18.78%1 163 3 7.00 6.00 S
Slide 9: Galoc Oil Field – Production Performance
Galoc Oil Field – Production Performance Interest Gross Daily Oil Production For personal use only • 18.8% indirect interest in Galoc Oil Project • Held through 31.4% shareholding in GPC • Operator ‐ Galoc Production Company (GPC) Production • Current rate 10,000 to 11,000 bopd (gross) • Uptime has
Slide 10: Galoc Phase 2 – Development Evaluation
Galoc Phase 2 ‐ Development Evaluation For personal use only Target Galoc Development Schematic • To increase 2P reserves by ~ 1 to 9mmbbls (gross) and access Galoc contingent resources • Likely 1‐2 new wells ~4,000 to 8,000 bopd Galoc‐3ST1 Galoc‐4 Galoc‐2 Galoc North Exploration Prospect each (gros
Slide 11: Edirne Gas Field – Second Producing Asset
Edirne Gas Field – Second Producing Asset Interest Edirne Permit For personal use only • 35% working interest • Joint Operators Transatlantic and Petraco Technical/Operational • Gas plant facilities largely complete • Connection to Botas pipeline in progress • First gas expected following completion
Slide 12: Edirne Gas Project Phase 2 Drilling Program
Edirne Gas Project Phase 2 Drilling Program For personal use only • Phase 2, seven well appraisal/ exploration drilling commenced • 2 discoveries to date • Gas plant tie – backs will extend plateau production • Possible plant capacity expansion • Yolboyu‐1 spudded 12 February 2010 ‐ deeper higher ri
Slide 13: Philippines Exploration
Philippines Exploration Major Upside Potential Across Multiple Licences For personal use only Philippines Permits Permit Description Otto Working Interest SC55 Deepwater Palawan 85% SC51 East Visayan basin 80% SC69 East Visayan basin 70% SC14C Galoc block 18.8% SC50 Calauit NW Palawan 85% 2‐Mar‐10 1
Slide 14: Philippines Exploration: SC55
Philippines Exploration: SC55 SC55 Prospects And Leads For personal use only Interest • 85% working interest Exploration Program • 600 km2 of 3D seismic acquired Jan 2010, over Hawkeye prospect • BHPB seismic acquisition & farm in option agreement • 1,800 km2 3D seismic program, ongoing (35% acquire
Slide 15: Philippines Exploration: SC51 and SC69
Philippines Exploration: SC51 and SC69 SC51 & 69 Prospects and Leads SC69 For personal use only • 70% working interest SC69 ‐ Reef Complex • Proven petroleum system • Large reef structures SC51 • 3,000 km 2D seismic reprocessed • 2D seismic acquisition in H1 2010 • Numerous leads < 800m water SC69 •
Slide 16: SC51 South: The Argao Prospect
SC51 South: The Argao Prospect....targeting 100 MMbbls For personal use only DHI’s Suggest Gas cap Potential Oil Leg 8 levels that could EACH contain 40 - 300 MMbbls in Gas place Cap E‐W SECTION OVER ARGAO
Slide 17: Year Ahead
Year Ahead For personal use only Production in 2010 Forward Activities • Galoc 0.4 mmbbls (net) • Turkey ~ 1.3 Bcf (0.23 mmboe) (net) Development • Galoc production upgrade • Commit to Galoc Phase 2 Exploration + static resources • Turkey Phase 2 exploration • Philippines farm downs • Philippines se
Slide 18: Philippines - Additional Exploration Details
For personal use only Philippines ‐ Additional Exploration Details 3/2/2010 17
Slide 19: Hawkeye Lead and NW Borneo Trend
Hawkeye Lead and NW Borneo Trend Possible GOC ~2800 mSS ~25 km2 For personal use only Lowest Closing Contour Possible OWC ~2880 mSS ~38 km2 Upside Possible OWC ~3000 mSS ~59 km2 Hawkeye Hawkeye Hawkeye (Otto) SC56 (Exxon‐Mobil) 20‐600 MMbbls 20‐600 MMbbl Dabakan‐1 2009 ?Oil Discovery Potential Resou
Slide 20: Argao Prospect – East Visayan Basin
Argao Prospect – East Visayan Basin For personal use only Vilaba Gas Discovery SC51 North Maya Field Libertad Field Analogue – Tembungo Field 1971 Esso Discovery Argao 40‐350 MMbbls Potential Resource POS 20% Toledo Field Malolos Argao Lumpan/Clemtom Field Malabuyoc/South Cebu SC51 South 80 MMbbls R
Slide 21: SC69 Numerous Plays in the East Visayan Basin
SC69 Numerous Plays in the East Visayan Basin Top Carbonate (Barili) Depth Structure Map For personal use only Vilaba Gas Discovery SC69 Maya Field Lampos Libertad Field Lampos Toledo Field Malolos Lumpan/Clemtom Field Malabuyoc/South Cebu