Strike Energy Limited · ASX:STX
Strike Energy — Shareholder Meeting (November 2011)
14 slides from Strike Energy's shareholder meeting presentation, Nov 17, 2011
Slide 1: Chairman's Address and AGM Presentation
Strike Energy Limited ABN 59 078 012 745 17 November 2011 For personal use only The Company Announcement Officer OUR STRENGTHS Australian Securities Exchange Ltd via electronic lodgement • Quality Assets • Experienced team CHAIRMAN’S ADDRESS AND • Major Growth Potential AGM PRESENTATION Please find
Slide 2: Chairman's Address
STRIKE ENERGY LIMITED CHAIRMAN’S ADDRESS ANNUAL GENERAL MEETING – 17 NOVEMBER 2011 For personal use only Ladies and Gentlemen, 2011 has been a year of transformation for Strike Energy. Over the past 12 months the Company has successfully executed a strategy which we believe will deliver the rewards
Slide 3: Chairman's Address (continued)
Last week we announced an important extension to our USA business with an entry into the Permian Basin, the USA’s most prolific oil producing region. The Clearfork Shale investment is consistent with our strategy; it meets our criteria. It gives shareholders high-upside exposure, comparable to our E
Slide 4: Annual General Meeting November 2011
For personal use only ANNUAL GENERAL MEETING 17 NOVEMBER 2011
Slide 5: Months in Review: A Year of Transformation
12 MONTHS IN REVIEW For personal use only A YEAR OF TRANSFORMATION Consistent, uninterrupted production and cashflow from the Louise gas/ PRODUCTION condensate field Wilcox Formation exploration below expectations, leading to a review of EXPLORATION strategy Sale of Mesquite & Rayburn fields for USD
Slide 6: New Leadership Team
NEW LEADERSHIP TEAM For personal use only INTRODUCING SOME NEW FACES David Wrench Ben Thomas Managing Director Executive Director & President, Strike USA B.Eng (Hons) B.Sc Co-founder of CH4 Gas Limited Over 40 years in the upstream oil & gas sector Ex-Macquarie, Credit Suisse, Chase Manhattan Ex-Mob
Slide 7: Strike's Strategy: A Focus on High-Impact Liquids-Rich Assets
STRIKE’S STRATEGY For personal use only A FOCUS ON HIGH-IMPACT LIQUIDS-RICH ASSETS HIGH IMPACT Early stage exploration, which if successful, will have a major impact on shareholder value - Unconventional resource plays & select higher risk/ reward conventional targets - High activity/ rapid commerci
Slide 8: Permian Basin "MB Clearfork Project"
PERMIAN BASIN “MB CLEARFORK PROJECT” For personal use only RESERVES/ PRODUCTION + MAJOR UNCONVENTIONAL UPSIDE Permian Basin, the USA’s most established oil region 25% of Permian Basin Joint Venture with Torch Energy Advisors First acquisition – MB Clearfork Project - 500 Mmbbl (net) independently es
Slide 9: Eagle Ford Shale
EAGLE FORD SHALE For personal use only THE USA’S PREMIER OIL & GAS PLAY The most sought after hydrocarbon play in the USA Now 8,050 net acres – 3rd largest exposure for an ASX company Centred on the preferred condensate/ gas fairway Significant value re-rating expected in 2012 - Acreage being de-ris
Slide 10: The Cooper Basin
THE COOPER BASIN For personal use only POSITIONED TO BENEFIT FROM THE COOPER BASIN’S RENAISSANCE Major looming shortfall in Australian east coast gas supply Over 16,000 km2 (net) in the Cooper & Eromanga Basins Unconventional prospective resource over 6 Tcf (net) Confirmed drilling program in Q1/201
Slide 11: St Landry Canyon
ST LANDRY CANYON For personal use only A BIG CONVENTIONAL PLAY ABOUT TO REACH TOTAL DEPTH 3,700 acres (net) on the prospective Wilcox Slope, Louisiana Multiple multi-hundred Bcf deep gas targets First prospect – West Plumb Bob (Strike 10%) - 360 Bcf (P50) to 680 Bcf (P10) resource potential - Approa
Slide 12: Other Assets
OTHER ASSETS For personal use only CONSISTENT PRODUCTION AND POTENTIAL UPSIDE Consistent production from the Wilcox Shelf (Eaglewood Joint Venture) - Louise gas/ condensate field producing without decline at 4 Mmcf and 100 barrels condensate/ day - Multiple 10 – 20 Bcf prospects identified through 3
Slide 13: An Exciting Year Ahead
AN EXCITING YEAR AHEAD For personal use only STRIKE’S MOST ACTIVE YEAR EVER…. BY FAR Immediate ~75% increase in net production following Permian Basin PRODUCTION acquisition, and likely to increase with the infill program Drilling activity at ALL high-impact core assets EXPLORATION - Permian Basin –
Slide 14: Important Notice
IMPORTANT NOTICE For personal use only This presentation does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. Reliance should not be placed