Star Energy Group Plc · LSE:STAR
Star Energy — Dart Energy — Investor Presentation (October 2011)
20 slides from Star Energy's investor presentation, October 2011
Slide 1: The First Global Coal Bed Methane Company Investor Update
The First Global Coal Bed Methane Company Investor Update Europe & Asia, October 2011 ASX: DTE:AX www.dartenergy.com.au Drilling of exploration well DJD-04E, Dajing Project, XAR, China
Slide 2: Investment Highlights
Investment Highlights Dart Energy is well placed to become a significant CBM / unconventional gas business Significant resource base - 34 active licences in 7 countries; 50 TCF GIP; 20 TCF prospective (CBM only; all net); substantial shale gas resource potential; ongoing process of resource maturati
Slide 3: Strategic Review
Strategic Review Dart Energy announced on 25 August 2011 that it is pursuing a substantial restructure, including an intention to pursue a proposed listing of its international portfolio of CBM assets on the Singapore Stock Exchange (‘SGX’) This follows recent, unsolicited expressions of interest in
Slide 4: Dart Energy – a leading global coal bed methane company
Business Dart Energy – a leading global coal bed methane company overview Stirling Warsaw Beijing • Interest in 34 licences in 7 countries(1) • 50%+ operating interest in most licences Delhi • 48 Tcf net GIP; 20 Tcf net prospective resource • Extensive work program underway across portfolio; 100+ we
Slide 5: International CBM markets represents a different business model
Business International CBM markets represents a different business model .…. model AUSTRALIA INTERNATIONAL Market • Large volumes of CBM resource • Large volumes of CBM resource Features • Typically remote locations • Typically located proximate to markets • Limited infrastructure for CBM • Extensiv
Slide 6: Focus on near-term monetisation and margin capture based on fundamentals
Value growth Focus on near-term monetisation and margin capture based on .…. fundamentals Nuclear 12 Ups i de to PEDL 133 11 LNG export GSA $11/ MCF Upside pri ci ng 10 to gas import $8.00 - $12.00 Value chain parity pricing 9 pricing upside Value chain Supply constraint (eg CNG) pricing upside Impo
Slide 7: Dart Energy's focus on rapid monetisation at "pace" projects
Clear path Dart Energy’s focus on rapid monetisation at “pace” projects ….. to growth Dart Energy’s portfolio includes several projects with a clear path to near-term production and revenues Initial reserves and GSAs in place at Liulin and PEDL Expecting reserves and GSAs at Sangatta West; Electrost
Slide 8: Recent catalysts point to the value in Dart Energy's global portfolio
Value Recent catalysts …. validation 1 DTE Value (US$m) Catalyst: Santos bid for ESG in NSW 200 400 600 800 1,000 1,200 1,400 1,600 Transaction “This [Santos-ESG] deal highlights the Comparables value potential in DTE’s NSW projects. If [Dart] can prove up its [Australian] AUSTRALIAN ASSETS INTERNAT
Slide 9: Significant achievements since listing on ASX yet share price has fallen
Restructure to Significant achievements since listing on ASX ….. unlock value 150% Dart S&P ASX 200 Apollo take-over Composite 100% $100m capital Completion of UK Reserves Restructuring Apollo take-over NSW Update unconditional acquisition raising capital raising certification announcement 125% 100%
Slide 10: Multiple value triggers
Multiple value triggers Near-term milestones Corporate Restructuring and separate listing of international assets on SGX Resources and reserves estimate update across the portfolio (ongoing) Australia Pilot drilling starting in late 2011 / early 2012 for PEL 458 (Newcastle) and PEL 460 (Western Hunt
Slide 11: Operational Update
First Global Coal Bed Methane Company Investor Update Europe & Asia, October 2011 Operational Update ASX: DTE:AX www.dartenergy.com.au
Slide 12: Portfolio-wide exploration, appraisal and early development work program
Portfolio-wide exploration, appraisal and early development program….. 2011 – 2012 work program Region Key items Exploration Appraisal Development Total well underway & Access & Pilots Europe • PEDL 133 work-over, pilot, development for early 7 wells gas sales • USCB pilot and development studies •
Slide 13: UK / Europe Work Program
UK / Europe Work Program 2011 – 2012 work program PEDL133 Exploration: 1 well being drilled; two additional core UK / Europe wells scheduled to begin Q4 2011 program Pilot: Drilling of Airth 12, a four seam multilateral well, summary began in September Pilot-to-Power: planning underway for installat
Slide 14: China Work Program – Dajing
China Work Program 2011 – 2012 work program Dajing Exploration: Final approvals for drilling contracts China received mid August program Drilling commenced in the first week of September and - Dajing currently four rigs are operational on the permit Drilling of 14 wells is required in the next 12 ca
Slide 15: China Work Program – Liulin
China Work Program 2011 – 2012 work program Liulin China Exploration: Geological and reservoir modeling being program conducted - Liulin Pilot: 2011 work program includes 4 vertical and up to 5 multilateral well. Program is on track and 4 rigs are currently in the field Development: Final design and
Slide 16: South Asia Work Program
2011 – 2012 South Asia Work Program work program Indonesia South Asia Exploration: Second core well is being drilled in Tanjung program Enim; Further seven planned across all three Indonesian summary permits Pilot: Four pilot wells drilled at Sangatta West with good early production results. Additio
Slide 17: Australia Work Program
Australia Work Program 2011 – 2012 work program Australia PEL 458 (Newcastle) Exploration: 4 core wells drilled to confirm potential program Pilot: 2 well (SIS) pilot to expected to commence end 2011 summary Others: Environmental studies being completed; access agreements in place with strong and st
Slide 18: Important Disclaimer
Important Disclaimer Notices This presentation (Presentation) has been prepared by Dart Energy Limited (ABN 21 122 588 505) (Dart). This Presentation is not a prospectus or a product disclosure statement under the Corporations Act and has not been, nor is it required to be, lodged with the Australia
Slide 19: Additional materials – Dart portfolio summary as at 30/9/2011
DART ASIA Location Dart Interest Operator Area Gross OGIP Gross Resources (100%) (Tcf) Gross Reserves (100%) (Bcf) Additional (km )2 (Tcf) Prospective 3C 2C 3P 2P Sangatta West PSC East Kalimantan, Indonesia 24% Dart & Ephindo 1,301 0.6 0.3 materials – Tanjung Enim PSC South Sumatra, Indonesia 45% D
Slide 20: Contact Information
Contact Dart Energy Limited Information Singapore (Head Office) 152 Beach Road, #19-01/04 The Gateway East Singapore 189721 Tel: +65 6508 9840 Fax: +65 6294 6904 Australia (Registered Office) Level 11, Waterfront Place, 1 Eagle Street GPO Box 3120 Brisbane QLD 4001 Tel: +61 7 3149 2100 Fax: +61 7 31