Metgasco Ltd · ASX:MEL
Metgasco — RIU Good Oil Conference 2019
20 slides from Metgasco's conference presentation, Sep 11, 2019
Slide 1: RIU Good Oil Conference Presentation
For personal use only RIU Good Oil Conference Presentation ASX: MEL SEPTEMBER 2019
Slide 2: Agenda
Agenda For personal use only ‒1 Company snapshot ‒2 Metgasco strategy/asset overview ‒3 Achievements over the last 12 months ‒4 Perth Basin farm-in with RCMA ‒5 Cooper/Eromanga Basin ‒6 Byron Energy ‒7 2019/2020 Indicative timeline ‒8 Conclusions - Upcoming investment highlights ‒9 Disclaimer/Prospe
Slide 3: Company snapshot
Company snapshot Metgasco is an active exploration company poised for growth For personal use only Company overview ▪ Experienced team focused on building value in the business Substantial shareholders & Board Keybridge Capital Limited 20.22% ▪ Exploration focus in onshore Cooper and Perth Basins in
Slide 4: Metgasco: Strategy / Asset Overview
Metgasco: Strategy / Asset Overview Strategy - Deliver shareholder returns from current and new E&P assets/investments and be the non-operator of choice For personal use only South Marsh Island 74 Onshore Perth Basin Cooper/Eromanga Basin USA Gulf of Mexico ▪ Exploration farm-in right for ▪ 3 permit
Slide 5: Achievements over the past months
Achievements over the past 12 months Significant achievements have been made in the last 12 months in 3 focus areas For personal use only Byron Energy GOM JV Cooper Eromanga Basin Corporate ✓ Drilled Weiss Adler-1 well in ✓ ATP2021 and ATP2020 ✓ Highly experienced focused Sep/Oct 2018 - No prospecti
Slide 6: Perth Basin: L14 - High Rate Oil/Shallow Kingia Dongara
Perth Basin: L14 - High Rate Oil/Shallow Kingia Dongara For personal use only ASX: MEL 6
Slide 7: Perth Basin: L14 - RCMA farm-in deal
Perth Basin: L14 - RCMA farm-in deal ▪ Metgasco has secured the right (exercisable by 15th Nov 2019) to drill one exploration prospect For personal use only in the L14 Western Flank in the period to Q3 CY 2020. With this commitment to drill to the High Cliff formation Metgasco earns a 60% equity int
Slide 8: Perth Basin: L14 - Cervantes/Western Brush prospects
Perth Basin: L14 - Cervantes/Western Brush prospects Potentially one of the largest undrilled oil opportunity in the Perth Basin (Gross P50 OOIP For personal use only 36mmbo), with geological similarities to nearby discoveries Near Top Kingia Depth (mTVDss) Exploration Key Data Cattamarra Coal Count
Slide 9: Cervantes/WB: four chances for a large oil discovery!
Cervantes/WB: four chances for a large oil discovery! Proposed Cervantes/Wb 1 ▪ This well design would target two prospects and test 3 For personal use only different hydrocarbon intervals in Cervantes being the Dongara, Kingia and High Cliff formations & potentially the Cattamarra formation in West
Slide 10: Perth Basin: L14 planning to drill Cervantes/WB
Perth Basin: L14 planning to drill Cervantes/WB 1 ▪ Early engagement for environmental approvals due to For personal use only drilling within nature reserve Jingemia Facility ▪ Jade has initiated discussions with other Perth Basin L14 operators on a drill club for a well that can drill to 2900m ▪ Da
Slide 11: Cooper Basin ATP2021 - Local fields and prospects
Cooper Basin ATP2021 - Local fields and prospects ATP2021 surrounded by commercial gas and oil fields – Cumulative gas prod of ~600Bcf within 20km of permit boundary For personal use only Cum. Cum Prod. Prod Field (Bcf) (mmbl) Beckler 32.4 Bow 4 Burke 55.6 Crowsnest 11 Dullingari 307 11.05 Dullingar
Slide 12: Cooper Basin ATP2021 - Metgasco free carry on Vali-1
Cooper Basin ATP2021 - Metgasco free carry on Vali-1 Metgasco has successfully achieved a free carry on the Vali-1 well via successful farm-outs to Vintage (operator and 50%) and Bridgeport (25%) For personal use only ▪ May 2019 Vintage farm-in terms: ‐ Pays 65% of cost of Vali-1 well to earn 50% in
Slide 13: Cooper Basin ATP2021 - Further exploration potential
Cooper Basin ATP2021 - Further exploration potential Odin prospect - 3D defined gas prospect + significant number of shallow oil potential leads For personal use only A A’ ▪ 11mmbls of oil has been produced from the Murta Fm GAS and the Namur SS locally at the Dullingari field ▪ Shallow oil leads to
Slide 14: ATP2020: Loki lead
ATP2020: Loki lead Overlooked, underexplored area with shallow oil and gas potential close to infrastructure For personal use only Exploration Key Data Near Top Toolachee TWT Structure Map CI:0.005s Country Australia Independent Basin Cooper/Eromanga 4 way dip closure Leads Licence ATP2020 Well Loki
Slide 15: ATP2020 Seismic repro - Sharper enhancement!
ATP2020 Seismic repro - Sharper enhancement! ▪ Re-processing of 2D seismic over the Loki Near Top Cadna-Owie TWT Structure Map CI:0.005s ATP2020 Seismic A Reprocessing For personal use only Lead has been completed. ‐ There is a significant improvement in the quality of the newly reprocessed seismic.
Slide 16: Cooper Basin PRL237
Cooper Basin PRL237 ▪ The Dalray updip prospect is located within For personal use only PRL237 and is on the same structural trend as the Padulla Oil Field ‐ Dalray 1 drilled in 2006, had oil shows over 18m of Murta. ‐ Any valid traps in PLR237 are next in line to receive spill-up charge from the Pa
Slide 17: Byron Energy: A strategic investment for growth
Byron Energy: A strategic investment for growth Metgasco’s 3+ year investment relationship with Byron Energy has delivered strong For personal use only returns to our shareholders, despite exploration disappointments in the Gulf of Mexico MEL drilled two wells via June 2016: Staged farm-in and grew
Slide 18: 2019/2020 Indicative exploration timeline
2019/2020 Indicative exploration timeline Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 For personal use only Vintage deal Spud Vali-1 Dec 2020 Flow test?/ Book reserves and 1st Farm- Drill Vali development MEL ATP2021 Stimulate Cooper Basin out Hand over operatorship. Well prospect planning? Appl
Slide 19: Conclusions - Upcoming investment highlights
Conclusions - Upcoming investment highlights Near term operational, corporate and macro news flows will provide a number of share For personal use only price catalysts Cervantes/WB Farm-down MEL has initiated a farm-out process to reduce financial exposure Perth Basin L14 to paying 100% of the Cerva
Slide 20: Disclaimer / Prospective Resource Notes
Disclaimer / Prospective Resource Notes ▪ 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 to the fa