Lakes Blue Energy Nl · ASX:LKO
Lakes Blue Energy Nl — Shareholder Meeting (March 2022)
19 slides from Lakes Blue Energy Nl's shareholder meeting presentation, Mar 25, 2022
Slide 1: Chairman's Address and CEO Presentation
Lakes Blue Energy ( ASX : LKO ) For personal use only ASX Announcement 25 March 2022 Annual General Meeting Chairman’s Address and CEO Presentation I think we can all agree that this is an exciting time to be a Lakes Blue Energy NL’s (Lakes, or the Company; ASX:LKO) shareholder. In the last 12 month
Slide 2: Chairman's Address (continued)
success. We will revisit Queensland after pursuit of our more significant Victorian opportunities. The main game for Lakes has always been the development of its Victorian assets. After what has been a tortuous ten-year journey (not including the part where the Company was actually allowed to be act
Slide 3: Lakes Blue Energy Presentation to Annual General Meeting
1 For personal use only Lakes Blue Energy Presentation to Annual General Meeting Roland Sleeman, CEO 25 March 2022
Slide 4: Cautionary Statement
Cautionary Statement For personal use only This presentation has been prepared by Lakes Blue Energy (‘Lakes Blue Energy NL’ or ‘Company’). By accessing this presentation you acknowledge that you have read and understood the following statement. Cautionary Statement The Company is not aware of any ne
Slide 5: Year in Review
Year in Review For personal use only ASX sets out Full-form conditions for ‘Replacement Wellesley-2 well 2020 AGM Corporate changes: resumption of Prospectus’; drilled in (23 March 2021) Sydney base trading of LKO $5.5m raised; Queensland shares + $1.6m committed Nangwarry Victorian Wellesley-2 LKO
Slide 6: Nangwarry Carbon Dioxide Project
Nangwarry Carbon Dioxide Project For personal use only • Petroleum Retention Lease 249 granted. • 50:50 joint venture with Vintage Energy. Lakes is Operator. • Independently certified saleable CO2 resource of 25.9 Bcf (12.9 Bcf net to Lakes). • Negotiating raw gas sales agreement with Supagas. PRL 2
Slide 7: ATP 1183 and Wellesley-2
ATP 1183 and Wellesley-2 For personal use only • Multiple exploration targets within ATP 1183, Queensland, in proximity to existing infrastructure: Emu Apple North 5.3 MMBbl oil Best Riverslea Updip 29.9 MMBbl oil Estimates Major East 10.6 Bcf gas of Prospective Bendee 0.9 MMBbl oil In-place Resourc
Slide 8: Successful 2022 Capital Raising
Successful 2022 Capital Raising For personal use only • February 2022 successful $5.489m capital raise through: Item On Issue o $1.146m advance (pre-Prospectus) placements. Shares 44,597,828,636 o $0.800m commitment to subscribe under Prospectus. Convertible notes 8,705,975,535 o $3.543m fully subsc
Slide 9: Strategy Update
Strategy Update For personal use only 1. Achieve commercial production of gas 2. Leverage returns 3. Diversify into Sustainable Energy Initiatives
Slide 10: Near-term Focus Back on Victoria
Near-term Focus Back on Victoria For personal use only Portland Energy Project Wombat 3 Tcf potential Otway-1 Trifon/ Gangell 22.5 Bcf 719 Bcf 2C prognosis
Slide 11: Wombat Gas Field
Wombat Gas Field For personal use only • Certified Contingent (2C) gas resources: o Wombat field – 329 Bcf. o Trifon/Gangell field – 390 Bcf (223 Bcf net to LKO). • Wombat-5 well. o Conventional, lateral gas well. o Estimated 10 TJ/d potential. o Proposed for mid-2022. o Approvals process underway.
Slide 12: Wombat-5 Gas Well
Wombat-5 Gas Well For personal use only Wombat-5: 1.5 km lateral targeting upper Strzelecki Formation
Slide 13: Otway-1 Gas Well
Otway-1 Gas Well For personal use only • Located within PEP 169 (49% LKO). • Well proposed for 2022. • Approval process underway. • Conventional vertical well, adjacent to Iona Gas Storage. • Targets 3 distinct reservoirs. o Pebble Point Sandstone, 0.37 MM Bbl oil o Waarre ‘C’ Sandstone, 5.3 Bcf o E
Slide 14: Portland Energy Project
Portland Energy Project For personal use only • Project 'Focus Area’ in SW corner of PEP 175 (100% LKO) • 3 Tcf conventional gas resource defined by SRK Consulting. Focus Area • Greenslopes-2 and Portland Energy-1 conventional wells proposed to confirm gas production potential of Eumeralla Formation
Slide 15: Leveraging Upside – PNG
Leveraging Upside – PNG For personal use only • Buna Prospect (PPL 560) has 3.3 Tcf prognosis. • Potential for farmout to Major, versus leveraging returns to advance project with 100% ownership retained.
Slide 16: Leveraging Upside – Arrowie Basin
Leveraging Upside – Arrowie Basin For personal use only • Six 100% owned PEL applications covering 53,000 sq-km. • Hydrocarbon potential confirmed by Santos at Wilkatana. o Oil is from Neoproterozoic source. • Cambrian – Proterozoic mega field potential to be investigated 0 50 100 150 200 250
Slide 17: Diversification – Sustainable Energy Initiatives
Diversification – Sustainable Energy Initiatives For personal use only • Objective: reliable, dispatchable, cost-competitive energy technologies. • For example: Cased Wellbore Compressed Air Storage (CWCAS) o Wells 1,500 metre depth, 300 mm dia. o 50 MPa compressed air. o Estimate $3m / 10 MWh stora
Slide 18: Sources of Resource Estimates
Sources of Resource Estimates For personal use only Nangwarry Independent estimate was prepared by ERC Equipoise Pte Ltd (ERCE) using a probabilistic methodology. Under the June 2018 Society of Engineers Petroleum Resources Management System, (PRMS), volumes of non-hydrocarbon by-products cannot be
Slide 19: Sources of Resource Estimates
Sources of Resource Estimates For personal use only Otway-1 Eumeralla: In-house estimate prepared by Mr Tim O’Brien, MSc in Geology and Geophysics, member of PESA, SPE and AAPG. Waarre and Pebble Point: probabilistic estimate independently prepared by Dr Greg Blackburn, BSc (hons), PhD, Terratek Pet
Lakes Blue Energy NL — Shareholder Meeting (March 2022) on 6ix