Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — Investor Presentation (July 2009)
15 slides from Melbana Energy's investor presentation, July 2009
Slide 1: Investor Update July 2009 – Disclaimer
Disclaimer This presentation includes certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those acts, events and ci
Slide 2: Corporate snapshot
Corporate snapshot Modest market cap, high liquidity, cash on hand MEO Australia Limited Ticker symbols ASX MEO US ADR program OTC MEOAY Issued Capital Million 417.3 (Treasury stock) Million 10.1 Options (unlisted) Million 13.4 Closing price 22 July $0.355 Market Cap. A$ $148 m Cash Reserves 30 June
Slide 3: Board
Board Extensive industry and capital market experience Nick Heath >30yrs with ExxonMobil Non-Executive Chairman Past APPEA President Appointed May 2008 Engineer Jürgen Hendrich Greg Short Stephen Hopley Michael Sweeney MD & CEO Non-executive director Non-executive director Non-executive director Geo
Slide 4: Management and Technical Team
Management and Technical Team Focused on technical and commercial excellence Jürgen Hendrich Chief Executive Officer 12yrs @ Esso Australia Ltd Geologist (ExxonMobil subsidiary) Investment Banking GSJBW, Tolhurst (now PSL) Colin Naylor Robert Gard Dave Maughan Ken Hendrick CFO/Company Secy Commercia
Slide 5: Balanced, diversified energy portfolio
Balanced, diversified energy portfolio Clear commercialisation path for all gas discovered Segment Asset Summary Strategy Summary Carnarvon Exploration Permits (WA-359-P, WA-360-P, WA-361-P) Exploration [Artemis 3D • Australia’s premier LNG province • Value add via quality technical work view graphi
Slide 6: WA-360-P: on trend with recent discoveries
WA-360-P: on trend with recent discoveries Strategically located near existing & proposed LNG infrastructure Pluto Under Construction 1 x 4.3 Mtpa Potential Expansion 1 x 4.3 Mtpa Wheatstone WA-359-P Proposed 8 Mtpa WA-361-P Martell 1 WA-360-P Zeus 1 Artemis Wheatstone Jansz/Io NWS Project Pluto Iag
Slide 7: Trap
Trap Structures not apparent in Two-Way-Time, depth conversion extremely complex Velocity data from new 3D seismic provides best solution • Time structure distorted compared to depth West Zeus by extreme velocity variation Lead • Malus-1 well located on time high of fault (Legendre) block, but off d
Slide 8: DHI Observations
DHI* Observations Amplitudes show conformance with structure Guilford-1 Wheatstone-5 Eastbrook-1 Malus-1 Absent on Fault seal crest of fault Malmsey-1 block Subcrop/ onlap beneath JO/MU Structurally conformable termination * DHI = Direct Hydrocarbon Indications
Slide 9: Composite line across Wheatstone-Artemis
Composite line across Wheatstone-Artemis Highlighting similarity of DHI observations (Datumed on Muderong Shale) Wheatstone Field Artemis Prospect
Slide 10: Farm-out activity
Farm-out activity Strong interest from major & national petroleum companies to farm-in Majors/National Progression of interest Total Companies Companies Reviewed summary 26 70 Signed confidentiality Agreement 17 (65%) 26 (37%) Visited data room 12 (70%) 17 (65%) Data room closes 14th August – Expect
Slide 11: Remote Bonaparte Basin gas fields
Remote Bonaparte Basin gas fields ~25 Tcf is stranded due to location &/or gas quality issues CO2 & distance challenged Evans Shoal Abadi (Santos, Shell, Petronas, Osaka Gas) Indonesia ~6+TCF 25% CO2 4 bbl/mmscf Australia Barossa/Caldita Greater Barossa (ConocoPhillips/Santos) Sunrise Evans Shoal ~3
Slide 12: Tassie Shoal – a natural hub site
Tassie Shoal – a natural hub site Solution to location & gas quality issues Tassie Shoal Methanol Loading Buoy Gas Supply • Relatively mild met-ocean conditions N Pipelines • ~25 Tcf of undeveloped gas within 150km PLEM • Eliminates long pipelines to shore Cooling Methanol Plant Water • CO2 sequeste
Slide 13: LNG plant – small footprint
LNG plant – small footprint Compact plant reduces construction and installation costs Tassie Shoal 3.0 mtpa LNG plant footprint represented at One of the 261 modules for the 4.3 mtpa same scale as Darwin 3.5 mtpa LNG Plant Pluto LNG plant • LNG Plant to be fabricated and pre-commissioned at South Ea
Slide 14: Appraisal of NT/P68 discoveries
Appraisal of NT/P68 discoveries Planning farm-out and 2010 appraisal drilling Relative Wetness (Increasing) Heron gas wetness Heron-2 3750 10 30 50 70 90 110 130 150 Intersected >200m gross gas column in Plover sands 3800 Multi-Tcf, wet gas potential (possible LNG feed) 3850 Zone interpreted to have
Slide 15: Value proposition
Value proposition Compelling value gap with near term catalyst Share Value Price (A$m) Remarks Issue Capital - 417m ordinary $0.355 $148m Close at July 22nd Less cash on hand $0.04 $17m $17.2m at June 30th Market value of MEO projects $0.315 $131m Net of cash Potential value of MEO projects WA-360-P