Star Energy Group Plc · LSE:STAR
Star Energy — Dart Energy — Investor Presentation (August 2011)
22 slides from Star Energy's investor presentation, August 2011
Slide 1: The First Global Coal Bed Methane Company – Investor update
The First Global Coal Bed Methane Company Investor update Australia, August 2011 ASX: DTE:AX www.dartenergy.com.au
Slide 2: Dart Energy – the leading global coal bed methane company
Dart Energy – the leading global coal bed methane company • Interest in 36 licences in 8 countries • Majority operating interest in 13 licences, 50% operating interest in a further 18 • 77.2 Tcf Gross GIP; 32.9 Tcf gross prospective resource; independently certified • Extensive work program underway
Slide 3: Focus on near-term monetisation and margin capture
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 - $12.00 Value chain parity pricing 9 pricing upside Value chain Supply constraint (eg CNG) pricing upside Impo
Slide 4: Dart's focus on rapid monetisation at "pace" projects
Clear path Dart’s focus on rapid monetisation at “pace” projects ….. to income growth Country Appraisal First Gas Dart Energy’s portfolio includes “pace” projects offering a clear path to near-term Period Sales production and revenues / cash-flows Reserves declarations and GSAs in place at Liulin an
Slide 5: Recent catalysts point to the value in Dart's global portfolio
Third party Recent catalysts point to the value in Dart’s global portfolio ….. value validation 1 DTE Value (US$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 [Dar
Slide 6: NSW Update
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Slide 7: Emerging gap between gas supply and demand growth in NSW
Inevitable An emerging gap between gas supply and demand growth in NSW….. energy dilemma in NSW 400 “Steady demand growth and depletion of historical 350 conventional production is 300 leading to a shortage [in Gas Volume (PJ/a) Eastern Australia] evident 250 Further imports after 2014, with CSG and
Slide 8: Market dynamics will drive increased prices
Attractive Market dynamics will drive increased prices ….. price dynamics Oil vs Gas Price Disparity New Build Power Generation Cost Comparison (including capital costs) 35 350 312 US$/MWh 300 243 30 250 211 200 136 150 95 97 112 114 25 86 89 100 63 50 20 0 A$/GJ 15 10 5 Source: US Energy Informatio
Slide 9: Dart's licences in NSW
A strategic Dart’s licences in NSW NSW asset base Large Resource Category BCF Net OGIP 32.4 Prospective 12.3 3C 1.9 2C 0.6 Markets and infrastructure Population – Newcastle, Sydney Pipelines – Newcastle/Sydney, Central Ranges, Queensland Hunter Pipeline (proposed) Power stations – Dart developed or
Slide 10: Dart's activities in NSW are conducted in a responsible, sustainable manner
Community Dart’s activities in NSW are conducted in a responsible, sustainable manner engagement Dart Energy Position Statements CBM Facts • Engagement : Committed to being • Gas is cleaner and greener than transparent in our operations and to share coal as a source of energy information openly. • C
Slide 11: Newcastle: Pilot drilling by year end, rapid maturation potential
NSW Newcastle: Pilot drilling by year end, rapid maturation potential operational priorities PEL458 Priority drivers 1.3 Tcf of GIP, 100% owned 2C Resources of 542 BCF with additional rapid maturation potential Near term commercialisation options Pilot Location Proximity to infrastructure and market
Slide 12: Upper Hunter Valley: Pilot drilling in early 2012, large strategic resource
NSW Upper Hunter Valley: Pilot drilling in early 2012, large strategic resource operational priorities PEL456 Priority drivers 30.2 Tcf of GIP, (Current Dart share 85%; Santos 15% - farming in to up to 50%) 3C Resources of 939 BCF already identified with significant further maturation opportunities
Slide 13: Western Hunter Valley: Exploration drilling next 3 months, path to market
NSW Western Hunter Valley: Exploration drilling next 3 months, path to market operational priorities PEL460 Priority drivers 1.1 Tcf of GIP, (Dart share 100%) Southern boundary proximate to pipelines such that path to market may be faster then the rest of the basin Operational status Two exploration
Slide 14: International Update
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Slide 15: China Work Program
China Work Program 2011 – 2012 work program Liulin China Exploration: Geological and reservoir modeling being program conducted. summary Pilot: 2011 work program includes 3 vertical and 5 multilateral well. Program is on track and 3 rigs are currently operating in the field. Development: Final desig
Slide 16: South Asia Work Program
2011 – 2012 South Asia Work Program work program Indonesia South Asia Exploration: Second of three wells being drilled at program Tanjung Enim; Further seven planned across all three summary Indonesian permits Pilot: Four pilot wells drilled at Sangatta West with good early production results; Addit
Slide 17: Europe Work Program
Europe Work Program 2011 – 2012 work program Europe PEDL133 Exploration: Two additional core wells scheduled to program begin Q4 2011 summary Pilot: New pilot production well to be drilled in September Development: Field development planning and engineering work underway to allow the connection of P
Slide 18: Takeaways
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Slide 19: Portfolio-wide exploration, appraisal and early development program
Portfolio-wide exploration, appraisal and early development program….. 2011 – 2012 work program Region Key items Exploration Appraisal Development Total well underway & Access & Pilots Australia • Portfolio exploration drill-out 12 wells • PEL 458 pilot • Commercialisation options 8.7 11.6 - 20.3 •
Slide 20: Takeaways
Takeaways Dart Energy is well placed to become a significant CBM / unconventional gas business Significant resource base - 48 TCF GIP; 20 TCF prospective (all net); ongoing process of resource maturation Well capitalised – US$150m of available cash; other funding sources Experience and skills – in-c
Slide 21: 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 22: 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