Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Shareholder Meeting (November 2010)
43 slides from Amplitude Energy's shareholder meeting presentation, Nov 4, 2010
Slide 1: Annual General Meeting November 2010
For personal use only Annual General Meeting November 2010 Michael Scott, Managing Director. © Cooper Energy Limited
Slide 2: Company Overview
For personal use only 2 Company Overview
Slide 3: Company Snapshot
Company Snapshot For personal use only Locations Headquarters - Perth, Australia Operations – Jakarta, Indonesia Operations – Tunis, Tunisia Exploration/Appraisal Assets Australia Indonesia Tunisia Europe/Mediterranean Romania Poland Development/Production Assets Australia (9 oil fields) Indonesia (
Slide 4: Board of Directors
Board of Directors For personal use only Chairman Mr Shervington is a Special Counsel in Minter Ellison's Perth corporate advisory group. He has over 35 years specialist commercial and corporate law experience. He was a member of the Laurie Shervington legal sub-committee of the Corporations and Mar
Slide 5: Company Secretary
Company Secretary COMPANY SECRETARY Mr Ian E. Gregory was appointed to the position of Company Secretary in December 2005. Mr For personal use only Gregory has acted as Company Secretary for the past 28 years for various listed and unlisted Ian Gregory companies and currently consults on secretarial
Slide 6: Senior Head Office Management
Senior Head Office Management Chief Financial Officer Mr Baillie has over 33 years experience in auditing, corporate banking, general management, For personal use only stock broking and accounting. His background includes working at Deloitte Haskins & Sells as John Baillie an auditor, Robe River Iro
Slide 7: Senior International Management
Senior International Management General Manager - Indonesia Mr Nemalceff has over 15 years of experience in the oil and gas industry in the areas of For personal use only Finance, Commercial, Operations and Management. His career includes operating in Pedro Nemalceff Ecuador, USA, Argentina, Bolivia
Slide 8: Substantial Portfolio Growth Since Listing
Substantial Portfolio Growth Since Listing For personal use only A: Cash backing increased. A Cash A$92.5 million P l d - MUA3 (455) Poland B: Substantial international Poland - MUA3 (435) portfolio added with near-term Poland - MUA3 (434) production potential. Poland - MUA2 (415) P l d - MUA2 (414)
Slide 9: Consistent Reserves Growth
Consistent Reserves Growth For personal use only Cooper Energy Recoverable Oil 2.5 2.0 BO) ble Oil (MMB 1.5 Recoverab 1.0 05 0.5 0.0 30 June 2006 30 June 2007 30 June 2008 30 June 2009 30 June 2010 Possible 0.00 0.00 0.00 0.00 0.00 Probable 0.00 0.00 0.00 0.00 0.30 PUD 0.00 0.00 0.00 0.00 0.20 PDP 0
Slide 10: Good Financial Results
Good Financial Results For personal use only Units FY09 FY10 FY09 to FY10 change FINANCIAL C 1 year performance f Oil sales revenue A$ millions 41.6 40.0 -4% Cash A$ millions 93.4 92.5 -1% Working capital A$ millions 96.5 95.4 -1% EBITDAX A$ millions 25.7 21.2 -17% EBITDA A$ millions 52 5.2
Slide 11: Dividend Policy
Dividend Policy For personal use only • Dividend Policy is clearly articulated on our website. • We are a small E&P stock that will only consider a dividend when we have sufficient longevity of production revenue to support our funding needs and dividends dividends. • Cash levels are earmarked for e
Slide 12: Peer Comparison
Peer Comparison For personal use only (1) Total 2P Enterprise Share Mk't cap ASX Reserves EV / boe Cash Debt Net Debt Value Price Number (undiluted) CODE (MMboe) (A$/boe) (A$MM) (A$MM) (A$MM) (A$MM) (A$) of Shares (A$MM) NXS# 122.0 6.3 32 311 279 769 0.48 1020 490 HZN 12.0 35.1 27 19 -8 421 0.38 113
Slide 13: Corporate Information
Corporate Information Market Snapshot Liquidity Metric For personal use only # shares # shares • Trading symbol: ASX:COE traded - traded - Liquidity - 1 Liquidity - 3 • Fullyy diluted shares 292 million 1 month 3 months month months • Options and warrants 19 million 7.4 40.1 2.5% 13.7% $ trades - 1
Slide 14: Operational Portfolio
For personal use only Operational Portfolio 14
Slide 15: Australia
For personal use only 15 Australia
Slide 16: Australia – The Cooper Basin Great Lakes
Australia – The Cooper Basin Great Lakes For personal use only Christies Production Island. Operators are doing a great job sustaining production under very adverse conditions. 16
Slide 17: Australia – Cooper Basin Production
Australia – Cooper Basin Production (COE 25-30%) Proved Developed (PDP) Reserves: 1.5 MMbbl For personal use only (Best estimate, Cooper Energy share). Ni oilil fifields. Nine ld Production base case budget of 320,000 barrels (Best estimate, Cooper Energy share) for FY2011 - assumes no exploration o
Slide 18: Australia – PEL92 Drilling Plan
Australia – PEL92 Drilling Plan Continuous back to back drilling – start as soon as flooding subsides For personal use only NOTIONAL (yet to be agreed with JV) Phase I (10 wells) Phase 2 (9+ wells) Development Exploration Development Exploration Wells (4) Wells (6) Wells (2+) Wells (7) “Low risk” Te
Slide 19: Australia – PEL92 Exploration Phase
Australia – PEL92 Exploration Phase 1 (COE 25%) For personal use only 6 exploration wells targeting 10.3 million barrels of P50 prospective resources (2.6 million barrels Cooper Energy share) 4 development wells expected to grow Proved Developed Producing Reserves portfolio. 1Q2011 start – subject t
Slide 20: Australia – PEL92 Exploration Phase
Australia – PEL92 Exploration Phase 2 (COE 25%) For personal use only 7 exploration wells targeting 3.2 million barrels of P50 prospective resources (0.8 (0 8 million barrels Cooper Energy share) 2+ development wells expected to grow Proved Developed Producing Reserves portfolio. Back to back with P
Slide 21: Indonesia
For personal use only 21 Indonesia
Slide 22: Indonesia – Sukananti Production Area
Indonesia – Sukananti Production Area (COE 55%, Operator) For personal use only Block also has Proved Undeveloped (PUD) Reserves: 0.2 MMbbl exploration and appraisal upside. (Best estimate, Cooper Energy share) 3D seismic will define drilling COE Cost: US$4 million over 4 years locations. Well depth
Slide 23: Tunisia
For personal use only 23 Tunisia
Slide 24: Tunisia – Bargou, Menzel Horr Prospect
Tunisia – Bargou, Menzel Horr Prospect (COE 85%) Prospective Resources: 20 MMbbl For personal use only (P50, Cooper Energy share) COE Cost: A$5 million COS COS: 30% Well depth: 2,400 metres Target reservoir: Multiple carbonate formations Approvals Status: 95% complete Pl Planning i St Status: t 95%
Slide 25: Tunisia - Bargou Permit, Hammamet West
Tunisia - Bargou Permit, Hammamet West (COE 85%) Contingent Resources (P50, 100% JV): For personal use only Birsa (Sandstone) 10 MMbbl Abiod ((Carbonate)) 57 MMbbl Proven oil: • Hammamet West-1 (1967): 7 m of oil on rock in Birsa. • Hammamet West-2 (1990): 192 m of oil in Abiod and flowed 20 bopd. •
Slide 26: Hammamet Exploration Permit
Hammamet Exploration Permit (COE 35%) For personal use only Fuchsia-1 drilled in 2010 - COE earned its 35% Fuchsia-1 discovered 16 metres of condensate rich gas on water Joint Venture: Storm Ventures International (35%, Operator), RAK Petroleum (30%) JV planning to shoot 3D seismic in 3Q2011 to matu
Slide 27: Poland
For personal use only 27 Poland
Slide 28: Poland - Joint Venture With RWE Dea
Poland - Joint Venture With RWE Dea RWE Dea Concessions in South Poland • 40% share in Joint Venture with RWE For personal use only • 3 Mining Usufructs (MUA’s) / 6 Blocks • €7.1 million entry cost (~A$10MM) 414 MUA‐2 415 • Proven petroleum system 433 Pola • Pola Oil Field Option 434 Di Discovery –
Slide 29: Romania
For personal use only 29 Romania
Slide 30: Romania – Corporate Holding in Zeta Petroleum
Romania – Corporate Holding in Zeta Petroleum • Zeta is a private UK company For personal use only • Zeta is Romania focused with excellent R Romaniani relationships l ti hi Bobocu • Under-funded but good people and assets • Win-win alliance Bucharest – COE assists Zeta with funding to meet aspirati
Slide 31: Near-Term Schedule
For personal use only Near Term Schedule Near-Term 31
Slide 32: 2010-2011 International Activity Program
2010-2011 International Activity Program COE share COE share For personal use only Exploration COE Net Net Capex 2010 2011 Recoverable Share Oil A$ Q3 Q4 Q1 Q2 Q3 Q4 Australia PEL92 6 exploration wells 25% 2.6 MMBBL 2.7 (1) (1) PEL92 7 exploration wells 25% 0 8 MMBBL 0.8 32 3.2 2 PEL100 250 km 3D se
Slide 33: Summary
For personal use only 33 Summary
Slide 34: Positioned for Growth
Positioned for Growth For personal use only • Past Built reserves and p production portfolio p to support pp expansion p expenditures p Built exploration portfolio to seek company growth through the drill bit • Now STRONG FOUNDATION Cash, reserves, resources, production Seeking to drill several high
Slide 35: Pre-AGM Questions
For personal use only Pre AGM Questions Pre-AGM 35
Slide 36: Shareholders Pre-AGM Questions
Shareholders Pre-AGM Questions For personal use only Addressed in slide #10. Cooper Energy is a When will you be paying speculative growth stock, no dividend or Dividend a dividend? capital it l repaymentt is i currently tl planned. l d The share price of an oil and gas company is Share Price When w
Slide 37: Any other questions before moving to the AGM Items of Business?
For personal use only Any other questions before moving i tto the th AGM It Items off Business? 37
Slide 38: www.cooperenergy.com.au
For personal use only www cooperenergy com au www.cooperenergy.com.au “Infinite potential, solid results”
Slide 39: Disclaimer
Disclaimer The information in this presentation: For personal use only • Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy Limited or to retain or sell any shares that are currently held. • Does not take into account the individual investment objectives or the fi
Slide 40: AGM Items of Business
For personal use only AGM Items of Business 40
Slide 41: AGM Items of Business
AGM Items of Business For personal use only 1. Re-election of Mr Chris The Board recommends that Mr Porter is P t Porter. retained as a Non Non-Executive Executive Director. Director 2. Adoption of Remuneration The Board recommends that Shareholders Report. endorse the remuneration report. RiskMetri
Slide 42: AGM Items of Business – Proxies Received
AGM Items of Business – Proxies Received For personal use only For Against Abstain Open 1. Re-election of Mr Chris 97,943,300 354,571 170,182 1,399,128 Porter. 2. Adoption of Remuneration 93 081 974 93,081,974 5 244 367 5,244,367 155 712 155,712 1 385 128 1,385,128 Report. The Board sincerely thanks
Slide 43: AGM Closed
For personal use only 43 AGM Closed