Lakes Blue Energy Nl · ASX:LKO
Lakes Blue Energy Nl — Shareholder Meeting (November 2022)
19 slides from Lakes Blue Energy Nl's shareholder meeting presentation, Nov 25, 2022
Slide 1: Presentation to Annual General Meeting
1 For personal use only Lakes Blue Energy Presentation to Annual General Meeting Roland Sleeman, CEO 25 November 2022
Slide 2: Cautionary Statement
Cautionary Statement For personal use only This presentation has been prepared by Lakes Blue Energy NL (‘Lakes Blue Energy’, ‘LKO’ or ‘Company’). By accessing this presentation you acknowledge that you have read and understood the following statement. Cautionary Statement The Company is not aware of
Slide 3: 2021/22: Year in Review
2021/22: Year in Review For personal use only Victorian Wellesley-2 well Enterprise North Work under way to exploration ban 2021 AGM drilled in Prospect identified resume exploration lifted (25 March 2022) Queensland in Otway Basin, Vic. in Victoria 1 July 2021 PNG: Technical PNG rock and fluid LKO
Slide 4: Enterprise North Prospect Identified
Enterprise North Prospect Identified For personal use only • Prospect identified through reinterpretation of merged 3D seismic, calibrated to known offshore fields. • Advantageous onshore location within PEL 169 (49% Lakes; 51% Armour Energy), close to existing infrastructure. • Very large, low-risk
Slide 5: Enterprise North – Comparatives
Enterprise North – Comparatives For personal use only • On trend with, and with seismic amplitude similar to, the Enterprise and Minerva gas fields • Interpreted gas-charged sands cause bright amplitude anomaly on seismic. A A’ B B’ C C’ Enterprise North Enterprise Minerva
Slide 6: PNG: PPL - Buna Prospect
PNG: PPL 560 - Buna Prospect For personal use only • Buna Prospect (PPL 560), offshore shallow water, has 3.3 Tcf prognosis. • Seismic flat spots indicate gas liquid contact.
Slide 7: PNG: PPL – Technical Collaboration Agreement
PNG: PPL 560 – Technical Collaboration Agreement For personal use only • Technical Collaboration Agreement (‘TCA’) in place with French Major, TotalEnergies. • TCA involves: Phase A – rock and fluid sampling by Lakes (already completed), geological and geophysical studies by TotalEnergies. Phase
Slide 8: PNG: PPL – Rock and Fluid Sampling
PNG: PPL 560 – Rock and Fluid Sampling For personal use only • Rock and fluid sampling program successfully completed in October 2022. • 46 rock outcrop samples, 9 sediment samples, 6 gas samples and 6 liquid samples collected. Gas sample collection Field-test of gas bubbling from reservoir Oil samp
Slide 9: 2023 Outlook
2023 Outlook For personal use only Aim to Commercialise Victorian Gas Resource Working to Secure Approvals for Multiple Exploration Wells across Victorian Permit Areas Exploring funding options, including Farmouts Exploration Drilling Activity to Resume as Soon as Approvals are Secured and Equipment
Slide 10: Victoria Exploration Focus
Victoria Exploration Focus For personal use only Otway-1 22.5 Bcf prognosis Portland Energy Project Wombat 3 Tcf potential Enterprise North Trifon/ Gangell 209 Bcf OGIP 719 Bcf 2C prognoisis
Slide 11: Enterprise North-1 Gas Well
Enterprise North-1 Gas Well For personal use only • Located within PEP 169 (49% LKO). • Deviated well design, from private property to target location. Enterprise North-1 Indicative location • Access and Approvals processes underway. • Well drilling cost estimate ~$4m (LKO share $2m) highly dependen
Slide 12: Wombat Gas Field
Wombat Gas Field For personal use only • Certified Contingent (2C) gas resources: o Wombat field – 329 Bcf. o Trifon/Gangell field – 390 Bcf (223 Bcf net to LKO). • Wombat-5 well. o Conventional, lateral gas well. o Estimated 10 TJ/d potential. o Approvals process underway. • Development concept: o
Slide 13: Wombat-5 Gas Well
Wombat-5 Gas Well For personal use only Wombat-5: 1.5 km lateral targeting upper Strzelecki Formation
Slide 14: Otway-1 Gas Well
Otway-1 Gas Well For personal use only • Located within PEP 169 (49% LKO). • Potentially drilled in campaign with Enterprise North-1 well. • Approval process underway. • Conventional vertical well, adjacent to Iona Gas Storage. • Targets 3 distinct reservoirs. o Pebble Point Sandstone, 0.37 MM Bbl o
Slide 15: Portland Energy Project
Portland Energy Project For personal use only • Project 'Focus Area’ in SW corner of PEP 175 (100% LKO) • 3 Tcf conventional gas resource defined by SRK Consulting. Focus Area • Greenslopes-2 and Portland Energy-1 conventional wells proposed to confirm gas production potential of Eumeralla Formation
Slide 16: South Australia – Arrowie Basin
South Australia – Arrowie Basin For personal use only • Six 100% owned PEL applications covering 53,000 sq-km. • Hydrocarbon potential confirmed by Santos at Wilkatana. • Objective to have PELs granted and to investigate Cambrian – Proterozoic mega field potential. 0 50 100 150 200 250
Slide 17: The Lakes Blue Energy Opportunity
43 The Lakes Blue Energy Opportunity For personal use only • Significant Onshore Conventional Victorian Gas Opportunities being Pursued • All Opportunities Can be Brought to Market Quickly • Eastern Australian Gas Market is Suffering Supply Shortfalls and Very High Prices • Onshore Conventional is M
Slide 18: Sources of Resource Estimates
Sources of Resource Estimates For personal use only Enterprise North Resource estimates have been prepared by Mr John Mackintosh, Reservoir Engineering Advisor, DGR Global Limited. Mr Mackintosh has over 25 years of diverse oil and gas industry experience and has significant reservoir engineering, p
Slide 19: Sources of Resource Estimates
Sources of Resource Estimates For personal use only Buna Prospect, PPL 560, PNG Source of estimate: “Undiscovered Hydrocarbon Resources, Petroleum Prospecting Licence (PPL) Blocks 257 and 258, Papua New Guinea”, 31 August 2010, Fekete Associates Inc. Arrowie Basin In-house volumetric estimate prepar
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