Ptr Minerals Limited · ASX:PTR
Ptr Minerals — Petratherm — Shareholder Meeting (November 2007)
31 slides from Ptr Minerals's shareholder meeting presentation, Nov 29, 2007
Slide 1: Annual General Meeting 2007
petratherm For personal use only Annual General Meeting 2007 Petratherm Business and Projects Overview Presented by: Terry Kallis, Managing Director Petratherm Limited Hilton Hotel Adelaide, 29 November 2007 Explorer and Developer of Geothermal Energy
Slide 2: Presentation Outline
Presentation Outline • Key Messages For personal use only • Corporate Overview • Climate Change and Renewable Energy • EGS & Geothermal Energy Project Economics • Petratherm’s Market Differentiation - Exploration and HEWI Models • Australian Projects – Paralana JV Project • International Projects -
Slide 3: Key Messages
Key Messages • Petratherm’s key strength lies in its approach to “exploration for For personal use only heat” and its commercial assessment of projects - “location, location, location”. • The approach has resulted in a portfolio of quality projects in Australia and Overseas – first mover in Spain fo
Slide 4: Corporate Overview
Corporate Overview • Established in 2003 and listed on the ASX in July 2004 For personal use only • Major shareholder is Minotaur Exploration – 34% • Around 2600 shareholders • Shares on Issue - 57,850,000 – Current Price of $ 0.89 • Market Capitalization of $ 51.5 million • $7.5 M in cash as at end
Slide 5: Board & Management
petratherm Board & Management For personal use only Derek Carter Simon O’loughlin Prof. Richard Hillis Chairman Director Dr Lloyd Taylor Director Director Richard Bonython Terry Kallis Donald Stephens Peter Reid Director Managing Director Company Secretary Operations Manager
Slide 6: Corporate Overview
Corporate Overview • Portfolio of Quality Projects – four in Australia, five in For personal use only Spain, China under examination – portfolio under expansion – expect 7 to 8 projects in Spain • Projects include Engineered Geothermal Systems (EGS) and Conventional Projects – products include elect
Slide 7: Petratherm - 2006/2007 Key Achievements
Petratherm - 2006/2007 Key Achievements • Discovery of world-class heat resource at Paralana, South Australia. For personal use only • MOU with Heathgate Resources to provide their Beverley Uranium Mine with electricity to meet their growing needs. • Federal Government approval and exclusive Agreeme
Slide 8: Climate Change and Renewable Energy
Climate Change and Renewable Energy For personal use only • Stern report – “Economics of Climate Change” • Al Gore’s documentary - “An Inconvenient Truth” • Renewed emphasis – Globally and Nationally • Australia – Major policy shift in the past year • IPCC Synthesis Report - very strong messages • N
Slide 9: Renewable Energy Policy & Geothermal
Renewable Energy Policy & Geothermal • Federal Labor Government Clean Energy Plan to ratify For personal use only Kyoto, Emissions Trading by 2010, 20% Renewable Energy target by 2020, $500 M Renewable Energy Fund ($50 M drilling initiative fund - 5 projects, demonstration project funding) & $150 M
Slide 10: Engineered or Enhanced Geothermal Systems
For personal use only Engineered or Enhanced Geothermal Systems
Slide 11: Geothermal Energy Cost Comparison
Geothermal Energy Cost Comparison 1600 Brown Coal PF 420MW (CF85%) For personal use only Electricity Supply Industry Planning Council Brown Coal PF 420MW (CF85%) + GS 1400 • 6.8% Australia’s base-load from hot rocks Black Coal PF 420MW (CF85%) by 2030 Black Coal PF 420MW (CF85%) + GS 1200 • “signifi
Slide 12: Geothermal Energy Project Economics
Geothermal Energy Project Economics • Temperature (differential, quality and type of resource) For personal use only • Drilling Costs (depth, size, geological formation, availability) • Energy Flow Rates (volume, pressure, energy transfer) • Plant Capital Costs and related efficiencies • Connection
Slide 13: Petratherm's Exploration Model
Petratherm ’s Exploration Model Petratherm’s “Shallow Hot Rocks close to Market" For personal use only “Hot Rocks” are EGS , i.e. Engineered Geothermal Systems Prime Cost Drivers • Temperature Differential • Drilling Depth • Flow Rate • Network Connection • Generation Plant Petratherm is seeking to
Slide 14: Heat Exchanger Within Insulator (HEWI) Model
Heat Exchanger Within Insulator (HEWI) Model EGS - engineered For personal use only geothermal system i.e. underground heat exchanger • Higher Permeability • Chemically Stable • No Potential Radon build up • Lower Risk = Cheaper Power! petratherm
Slide 15: Petratherm's SA Projects
For personal use only Petratherm’s SA Projects
Slide 16: Paralana Work Program
For personal use only Phase 3 drilling Paralana Work Program 109oC petratherm Temperature measurements indicate 200 degrees C at 3.6km
Slide 17: Paralana Geothermal Energy JV Project
Paralana Geothermal Energy JV Project Paralana Key Features For personal use only – Excellent thermal resource at shallow depths with stable geological formation - expect good drilling conditions – Close proximity to the “off-grid” Beverley Uranium Mine – $30 M JV with Beach Petroleum and $5 M Feder
Slide 18: Paralana Commercialization Plan
Paralana Commercialization Plan For personal use only petratherm
Slide 19: Paralana Seismic Survey
Paralana Seismic Survey For personal use only
Slide 20: Seismic & MT Survey Lines
Seismic & MT Survey Lines For personal use only Paralana Hot Springs
Slide 21: Paralana Geothermal Energy JV Project - Recent & Next Steps
Paralana Geothermal Energy JV Project Recent & Next Steps For personal use only – Deep well design/drilling rig selection completed – Letter of Intent signed with Ensign International Energy Services – Subject to confirmation of well design parameters and commercial arrangements – Optimal solution w
Slide 22: Petratherm Espana
Petratherm Espana • Geology is conducive to EGS For personal use only •Expanding Project Portfolio • Strong Corporate Interest • High Electricity Prices • Leading Policy Development • Conventional geothermal and direct use options • Lower Cost and Risk! petratherm
Slide 23: Petratherm Spanish Projects
Petratherm Spanish Projects For personal use only Barcelona Almazan Madrid Tenerife Islands Gran Canaria
Slide 24: China – APP Program
China – APP Program • Asia Pacific Partnership Approved Project (APP) with the For personal use only support of the Chinese and Australian Governments • Over 240 recorded geothermal sites • Conventional Geothermal Potential ~1400 MW • Enormous EGS (Hot Dry Rock) Potential • Hot Water and Electricity
Slide 25: Exclusive Cooperative Agreement in China
Exclusive Cooperative Agreement to identify high prospect geothermal energy projects in China with four Chinese Government Institutions For personal use only • Chinese Geothermal Energy Society • Geological Survey of China • Chinese Academy of Sciences • China Institute of Geo-Environment Monitoring
Slide 26: Challenges for EGS Projects
Challenges for EGS Projects • Securing a quality site – the three locations – optimizing economics in a competitive market. For personal use only • Confirming the quality of the potential resource – temperature differential, stress regime / permeability. • Deep drilling of wells – well design, drill
Slide 27: Increasing Shareholder Value
Increasing Shareholder Value • Cost Reduction For personal use only – HEWI Model - shallower wells reducing drilling costs – Competitive sourcing of plant and equipment – “no ties” to a plant manufacturer – “ fit for purpose” – conventional, lower cost plant • Risk Reduction – Initial project select
Slide 28: Petratherm - 2007/2008 Achievements & Progress
Petratherm - 2007/2008 Achievements & Progress • Two new Spanish Projects announced Almazan Basin - Conventional Geothermal in Gran Canaria, Canary Islands For personal use only • Consolidated first mover advantage in Spain with 5 projects –up to 8 planned – creating significant interest in Spain (e
Slide 29: Petratherm - Share Price History
Petratherm - Share Price History For personal use only 160 New Conventional Almazan Geothermal Project project in 140 for Tenerife Paralana Seismic Survey Spain Completed & Exclusive secured Spanish media coy Agreement w ith Chinese becomes 1% stakeholder Govt. 120 Federal Govt. $5M REDI Grant $6M P
Slide 30: Summary of Key Messages
Summary of Key Messages • Petratherm’s key strength lies in its approach to “exploration for For personal use only heat” and its commercial assessment of projects - “location, location, location”. • The approach has resulted in a portfolio of quality projects in Australia and Overseas – first mover
Slide 31: Thank You
For personal use only Thank You petratherm ASX Code: PTR www.petratherm.com.au Phone: (08) 8274 5000