Strike Energy Limited · ASX:STX
Strike Energy — Shareholder Meeting (November 2010)
20 slides from Strike Energy's shareholder meeting presentation, Nov 17, 2010
Slide 1: Chairman's Address and AGM Presentation
Strike Energy Limited ABN 59 078 012 745 17 November 2010 OUR STRENGTHS The Company Announcement Officer Australian Securities Exchange Ltd • High margin producer via electronic lodgement • Multiple large scale growth options CHAIRMAN’S ADDRESS AND AGM PRESENTATION • Experienced team Please find att
Slide 2: AGM Chairman's Address - 2009-2010 Year
STRIKE ENERGY LTD AGM CHAIRMAN’S ADDRESS - 2009-2010 Year Firstly Ladies and Gentlemen as this is my first AGM as Chairman I would like to thank and acknowledge my predecessor Jeff Schnieder, who chaired Strike for six years from its listing, for his valuable contribution and the part he played in b
Slide 3: Chairman's Address (continued)
The opportunity for substantial growth based on the successful evaluation of these coal measures remains. The execution of an effective drilling programme over the coming year to realize this potential stands as one of the Company’s highest priorities. Taking stock of our position as shareholders, w
Slide 4: Annual General Meeting November 2010
Annual General Meeting 17 NOVEMBER 2010
Slide 5: Disclaimer
DISCLAIMER This presentation does not constitute an offer, invitation or recommendation to subscribe for, or purchase any security and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. Reliance should not be placed on the information or opinio
Slide 6: Achievements – 2009/2010
ACHIEVEMENTS – 2009/2010 US BUSINESS • Continued profitable gas/condensate Production Performance $14.4 million revenue ($7.6 EBITDAX) • Gas/condensate reserves increase 77% • Louise gas/condensate discovery producing at 5 MMcfe/day • Significant new prospects generated AUSTRALIAN BUSINESS • Sec
Slide 7: Current Drilling Activity - Deerslayer
CURRENT DRILLING ACTIVITY - DEERSLAYER DEERSLAYER PROSPECT (30% STX Working Interest) 200 Bcf Prospect Largest target of recent US program Current Position Steindorf 1, wireline logging at TD 14,800 feet Encouraging gas shows Completion decision awaiting wireline logging STRIKE’S LATEST DISC
Slide 8: US Business
US BUSINESS • 3 Producing Fields: Rayburn, Mesquite, Louise (gross 2,520 Boepd) • Strike Reserves: 15.3 Bcfe (2P) (result of 50% Wilcox exploration success) • Numerous growth opportunities identified • Appointed Ben Thomas, 40 years experience as US manager Pursue new exploration opportunities O
Slide 9: Profitable US Business
PROFITABLE US BUSINESS REVENUE AND EBITDAX Reserve growth from: • existing fields and discoveries • new discoveries PROVED AND PROBABLE RESERVES • new opportunities (Bcfe) to support future revenue growth INCREASING RESERVES – INCREASING CASH FLOWS
Slide 10: US Forward Program
US FORWARD PROGRAM • US activities to accelerate in next 6 months • Deerslayer Prospect, Steindorf 1 well possible completion for testing/production • Reserves update December Quarter 2010 • Ongoing exploration evaluation of 600 Bcfe prospective resource • Five exploration wells targeted in 2011 Maj
Slide 11: Australian Business
AUSTRALIAN BUSINESS COOPER BASIN • Coal Seam Gas (CSG) and conventional oil position CARNARVON BASIN • Conventional oil and gas position FuturGas PROJECT • Large scale coal gasification project EXPOSURE TO LARGE SCALE RESOURCE PLAYS
Slide 12: Cooper Basin
COOPER BASIN • Large acreage position Southern Cooper: CSG and conventional targets • Vast CSG resource potential • Strategic location at East Coast gas distribution hub • Open access pipeline – low infrastructure costs STRATEGIC LOCATION
Slide 13: Cooper Basin PEL 96
COOPER BASIN PEL 96 • Net coal target up to 75m thick • Prospective resource 3,700-9,300 PJ (3.7 to 9.3 Tcf) • Forge 1, drilling cut short for operational reasons • Target only part tested • Gas confirmed in 21 metres of Permian Coal Seams drilled • Thermogenic and Biogenic gas sources indicated F
Slide 14: 2011 Program – Cooper Basin
2011 PROGRAM – COOPER BASIN PERMIAN COAL TARGETS (1,200 -1,600m) • PEL 96 and PEL 95 Potential for 5 wells TERTIARY/CRETACEOUS COAL TARGETS (200 – 500m) • Southern Cooper region PEL 95 Potential for 20 holes PEL 96 UP TO FIVE WELLS TARGETED
Slide 15: Carnarvon Basin
CARNARVON BASIN • Large shallow water acreage position • Targeting oil and WA domestic gas markets • Baniyas oil and gas prospect (Operator 61.5% interest) • Rivoli Gas Field (Operator 44.5% interest) Contingent Resource 10-15 Bcf (P50 – P10) SECURING ADDITIONAL INTERESTS FOR GROWTH
Slide 16: Baniyas
BANIYAS • Strike, Operator with 61.5% interest • Prospective resource Million Boe P10 45 P50 19.1 P90 7.5 • Finalise agreement on block 6309 • Target drill in mid 2011 MATERIAL OIL PROSPECT
Slide 17: FuturGas
FuturGas • 578 Million tonnes JORC compliant lignite resource located close to infrastructure • Gasification trials completed, confirmed high quality “Syngas” • Product options: CTL, urea, ammonia, methanol, power • Project at feasibility study stage • Funding and near term value realisation options
Slide 18: Summary
SUMMARY NEAR TERM FOCUS (3-6 months) • US Business Acceleration (5 wells) • Evaluate new opportunities MEDIUM TERM FOCUS (6-12 MONTHS) • Australia Business Advancement (5 wells) • Developing new opportunities CONTINUE TO BUILD THE ASSET BASE AND VALUE ADD
Slide 19: JORC Compliance Statement – FuturGas Resource
www.strikeenergy.com.au JORC COMPLIANCE STATEMENT – FUTURGAS RESOURCE The FuturGas coal resources presented in this report are located at Kingston South Australia and have been classified and reported in accordance with the JORC code. The JORC resource estimate is comprised of 523.5 million tonnes o
Slide 20: ASX: STX
ASX: STX Strinee of Energy ¢