Metgasco Ltd · ASX:MEL
Metgasco — Investor Presentation (November 2022)
14 slides from Metgasco's investor presentation, Nov 25, 2022
Slide 1: Delivering a New Gas Source to the Undersupplied East Coast Energy Market
Delivering a New Gas Source to the Undersupplied For personal use only East Coast Energy Market Odin gas discovery 36 Bcf (Gross) Contingent Vali gas field Resources, GSA with AGL for up to 16 PJ, Metgasco share 8.77 Bcf 101 PJ (Gross) 2P reserves, Metgasco share 25.2 PJ Corporate Presentation 25 No
Slide 2: Disclaimer / Reserves and Resource Notes/Glossary
Disclaimer / Reserves and Resource Notes/Glossary ▪ This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made as
Slide 3: Highlights – Two Gas Fields entering production
Highlights – Two Gas Fields entering production 1 Maiden Gas Production from Vali Gas Field by Jan 2023 For personal use only ▪ MEL is commencing gas supply to Eastern Australia from the Vali field in January CY23, generating maiden revenue. ▪ ATP 2021 JV contracted to supply an estimated 9 to 16 PJ
Slide 4: Company Snapshot
Company Snapshot Metgasco’s Cooper Basin success allows line of sight to profitable business by early 2023 For personal use only ▪ A highly experienced team focused on creating shareholder Substantial shareholders & Board value. https://www.metgasco.com.au/company/board- management/ Glennon Capital
Slide 5: Undersupplied East Coast Australian Gas Market
Undersupplied East Coast Australian Gas Market ➢ Growing Domestic Gas Shortfall – In July 2022, the Australian Competition & Consumer Commission (ACCC) released its latest interim update as part of the “Gas Inquiry For personal use only 2017-2025” and it forecasts in the “base case” a potential dome
Slide 6: Upward Price Pressure East Coast Gas Market
Upward Price Pressure East Coast Gas Market ➢ Global LNG supply side issues, coupled with an already tight domestic supply For personal use only demand market, has put upward pressure on East Coast prices. LNG netback prices vs prevailing spot ECGM prices Source: MST Access, ACCC, AEMO STTM. ASX: ME
Slide 7: Significant uncontracted gas reserves and resources
Significant uncontracted gas reserves and resources ➢ Metgasco has uncontracted gas connected to, or close to, existing infrastructure For personal use only Vali VALI - 2P GROSS RESERVES (MEL 25%) ▪ AGL contract provides for sale of estimated 9 AGL: base AGL: upside Uncontracted PJ – 16 PJ from Vali
Slide 8: Project Delivery: Pathway to Production Revenue
Project Delivery: Pathway to Production Revenue ➢ Experienced Management team has delivered 4/4 successful gas wells. For personal use only ➢ Commercialisation of Vali represents the culmination of a long process of value creation by Metgasco, from initial application for ATP2021, technical appraisa
Slide 9: Cooper Basin Position – Production and Upside
Cooper Basin Position – Production and Upside ➢ Cooper Basin: ATP 2021 and PRL 211 – Two Gas Fields and Material Upside ➢ Close to major infrastructure and access to market For personal use only Vali Gas Project and first tie-back (Odin) Cooper Basin - Location of ATP 2021 / PRL 211 Source: Vintage
Slide 10: Vali Gas Field – >100PJ for East Coast Markets
Vali Gas Field – >100PJ for East Coast Markets ➢ 3 wells completed and being Vali Reserves and Resources For personal use only connected to Moomba system to Gross ATP 2021 Vali Gas Field Reserves* 1P 2P 3P commence supply to AGL Sales Gas (Bscf) 43.3 92.0 191.2 Sales Gas (PJ) 47.5 101.0 209.8 ➢ ~85%
Slide 11: ATP2021 - Farm-out to production in less than years
ATP2021 - Farm-out to production in less than 4 years ➢ 2019: Metgasco farms out 75% of ATP 2021 to Cooper Basin specialists ATP2021 / PRL211 Cross Section – 4/4 successful wells For personal use only Vintage/Bridgeport. Allows Metgasco free carry-on Vali-1. ➢ 2020: Vali-1 gas discovery and flow tes
Slide 12: PRL211 - Odin-1 fast tracked for production
PRL211 - Odin-1 fast tracked for production ➢ Odin-1 conventionally flowed Odin-1 connection to Vali infrastructure For personal use only 6.5MMscf/d at 1823 psi FWHP from Epsilon and Toolachee reservoirs. ➢ Uncontracted Gross 2C Contingent Resources of 36.4 Bcf* (8.77 Bcf* net Metgasco) attracting c
Slide 13: Next Months – Full Pipeline of News Flow
Next 12 Months – Full Pipeline of News Flow ➢ First production and cash flow from Vali, accelerated Odin production, gas sales announcements and reviewing multiple exploration and production opportunities. For personal use only Vali Project GSA signed with AGL for Vali gas sales to end-2026. Moomba
Slide 14: An East Coast Gas Producer - Contact us for further information
An East Coast Gas Producer - Contact us for further information For personal use only VALI & ODIN PRODUCTION HUB Ken Aitken | Managing Director Level 2, 30 Richardson Street, West Perth WA 6005 Main: +61 8 6245 0060