Metgasco Ltd · ASX:MEL
Metgasco — Australian Gas Markets Conference 2009
19 slides from Metgasco's conference presentation, Aug 24, 2009
Slide 1: Developing Gas and Power Supplies for East Coast Markets
For personal use only Developing Gas and Power Supplies for East Coast Markets Australian Gas Markets Conference 24 August 2009
Slide 2: Corporate overview
Corporate overview For personal use only Exploring and developing coal seam gas (“CSG”) and conventional oil and gas Focussed on Clarence Moreton Basin in New South Wales Multi-TCF scale CSG play with large established reserve base Conventional exploration upside with liquids potential Strong Board
Slide 3: Summary financials
Summary financials For personal use only ASX Listing Dec 2004 ASX Code MEL Share Price on 14 August $0.44 Market Cap $81 m Shares on Issue 186 m Options on Issue 6m Cash $15 m Debt nil 3
Slide 4: Assets are close to markets & infrastructure
Assets are close to markets & infrastructure For personal use only Large acreage position in northern NSW of 6,000 km2 (gross) with operatorship Metgasco’s acreage position Gross Area (km2) PEL 16 1 830 km2 PEL 132 1,652 km2 PEL 4262 2,448 km2 Total 5,930 km2 1. In JV with CS Energy; 2. In JV with M
Slide 5: Large certified reserve position
Large certified reserve position For personal use only Certified Reserves in PEL 16 net to MEL 1,419 1600 Opportunity for further reserve growth: 1400 1200 2P reserves booked in 4 out of 11 1000 blocks in PEL 16 800 represents 5-10% of total acreage covered to date 600 264 400 2 200 0 1P 2P 3P Reser
Slide 6: Leading position in Clarence Moreton basin
Leading position in Clarence Moreton basin For personal use only One of the most underexplored basins on the east coast of Australia. In New South Wales, covers approximately 16,000 km² with about 10 conventional oil and gas exploration holes drilled CSG: Walloon Coal Measures – same coals as QLD Ip
Slide 7: Coal seam gas – technical characteristics
Coal seam gas – technical characteristics For personal use only High rank, high gas content, medium volatile bituminous coals Gas saturated Low water production Permeability 1 – 10 millidarcies Depth to coal (m): 200 – 1,000 Net coal (m): 14 – 44 metres Focus on the Richmond coal seam: 6 – 9 m thick
Slide 8: Coal seam gas – successful trial of horizontal drilling
Coal seam gas – successful trial of horizontal drilling For personal use only Metgasco is currently running a pilot testing program Lead pilot well (Corella-11) producing gas at 200,000 scf/day from a single lateral To date Corella-11 has produced 67 million standard cubic feet of gas and 36,500 bbl
Slide 9: Successful trial has led to first proven CSG reserves
Successful trial has led to first proven CSG reserves 1P reserve certification of 2.7 PJ (proven, undeveloped) from Corella-11 represents For personal use only an important milestone and highlights the underlying value in Metgasco’s CSG acreage Demonstrated by pilot production History matching to re
Slide 10: Development of NSW CSG industry is following the same growth path as in QLD
Development of NSW CSG industry is following the same growth path as in QLD For personal use only Current NSW CSG reserves (PJ) Company share of NSW 2P reserves (PJ) 1 3,975 34 264 4000 3500 257 MEL 3000 ESG STO 2500 AGL 2000 211 1,157 CSE 1500 391 1000 35.3 500 0 Company share of NSW 3P reserves (P
Slide 11: Conventional Gas Discovery - Kingfisher Field
Conventional Gas Discovery - Kingfisher Field For personal use only Conventional gas field discovered by MEL in May 2008 by the drilling of the Riflebird- E14 (RB14) well. RB14 was drilled to a total depth of 1,269 metres and penetrated a 49 metre gross gas bearing interval in the Heifer Creek Sands
Slide 12: Kingfisher – appraisal drilling starts next month
Kingfisher – appraisal drilling starts next month For personal use only Riflebird-E14 drilled to 1,246 m Kingfisher –E1 targeting full section 2,500 m Original gas in place (OGIP) estimated at 82 Bcf (P50) and 831 Bcf (P10). Small volumes of condensate have been obtained from Riflebird-E14 indicatin
Slide 13: Kingfisher located on a mid-basin high with other drilling prospects
Kingfisher located on a mid-basin high with other drilling prospects For personal use only PEL 16 - Leads and Prospects (OGIP ) Billion cubic feet Previously unknown mid-basin high PMean P10 has been identified by Metgasco Kingfisher 82 831 Large number of leads and prospects Mackellar 63 688 identi
Slide 14: Commercialisation strategy
Commercialisation strategy For personal use only Lions Way Gas Pipeline under development – A new high pressure gas pipeline to connect Clarence Moreton gas fields to customers in QLD Lions Way Pipeline Lions Way pipeline – 145km pipeline starting in Casino (NSW) and finishing in Ipswich (QLD) Envir
Slide 15: Richmond Valley Power Station
Richmond Valley Power Station For personal use only 30MW gas fired power station located at Casino requiring ~2.5Pj/A Field development studies complete Environmental assessment lodged with NSW Dept of Planning on 11 August 2008. Currently waiting for development consent Power Station land requireme
Slide 16: Exploration and appraisal activities
Exploration and appraisal activities For personal use only Activity Purpose Low cost vertical well with simple completion drilled in Recent Wyan-E1 (PEL 13) May 2009. Gas flows of 175,000 scfd. Activity Advance drilling of vertical offtake for next generation Riflebird-E15 (PEL 16) pilot multilatera
Slide 17: Infrastructure development activities
Infrastructure development activities For personal use only Activity Purpose Development Development approval and FID of 30 MW Richmond Valley power station Complete Environmental Assessment on Lions Way pipeline Progress on Stratheden Joint Venture Progress other gas sale agreements 17
Slide 18: Experienced Board & Management
Experienced Board & Management For personal use only Board Management Dr Peter Power – Chairman Mick O’Brien – Chief Operating Officer Former Managing Director of Ampolex. Past Chairman Over 30 years experience in energy sector of APPEA. engineering. Former head of Coal Seam Gas group David Johnson
Slide 19: Disclaimer
Disclaimer For personal use only This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco). No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information con