Po Valley Energy Limited · ASX:PVE
Po Valley Energy — Investor Presentation (November 2012)
20 slides from Po Valley Energy's investor presentation, November 2012
Slide 1: Company Presentation
Italy based gas producer with operating cashflow and a portfolio of attractive Oil & Gas projects Company Presentation November 2012
Slide 2: Disclaimer
Disclaimer This presentation is for informational purpose only and should not be considered as an invitation or recommendation to purchase securities in Po Valley Energy Limited. This presentation may contain forward looking statements that are subject to risk factors associated with the oil and gas
Slide 3: PVE Snapshot
PVE Snapshot PVE at a Glance Listed on Australian Stock Exchange Since Dec 2004 Shares on Issue 111.1 million Market Cap AUD 17.8 m (as at 30 Sept 12) Net Invested capital to date ~ € 50 million 4 assets drilled 4 commercial gas discoveries 2011 Production 1.02 Bcf or ~2.8 MScf/day Reserves 2.3 MBoe
Slide 4: PVE Portfolio of Assets
PVE Portfolio of Assets of extensive Producing Gas Fields Oil Discoveries / Appraisal Opportunities majority owned assets base Gas Discoveries for Appraisal Development Gas Projects Gas Exploration Prospects PVE Reserves & Resources RESERVES: RESOURCES: 2.3 MBoe 17 25.3 MBoe MBoe 2P (Proved + Probab
Slide 5: Keys To Success
Keys To Success Profitable Game changing High impact Medium-low Gas producer: offshore risk appraisal oil discoveries: stable cashflow exploration and exploration potential with 3-year permit: projects: addition of 10 production track unrisked potential addition mmbbls of oil record and more resourc
Slide 6: Action Plan
Action Plan INCREASE GAS FLOW • Add new production capacity by building off of foundation producers (Sillaro and Castello) and bring two new fields (Bezzecca and Sant’Alberto) online in the next 12-18 months MOVING OFFSHORE • 3D seismic already available on two gas discoveries (Carola and Irma) • Pl
Slide 7: Development Pending
Target Work Program 3Y plan to “unlock value” and shorten “time to market”: Move 2C resources of 40 bcf of gas and 10 mmbbls of oil into 2P reserves Unlock 145.7 bcf of gas from best estimate prospective resources (unrisked) Revenue in NPV(10) in €m up to €m* as at IRR** 2012 2013 2014 2015 Dec11 De
Slide 8: Improving Business Environment
Improving Business Environment “PVE is well positioned to capitalise on evolving energy market dynamics in Italy and southern Europe ″ RECENT ITALIAN ENERGY MARKET IMPROVEMENTS…. In March 2012 Industry Minister, Corrado Passera, announced a new energy strategy for Italy which aims to double domestic
Slide 9: PVE Contacts
PVE CONTACTS: Giovanni Catalano Chief Executive Officer & Managing Director ROME OFFICE Via Ludovisi 16 +39 06 4201 62 75 Rome Italy 00187 TEL +39 06 4201 4968 FAX +39 06 4890 5824 www.povalley.com info@povalley.com REGISTERED OFFICE Level 28, 140 St George's Terrace Perth WA 6000 TEL +61 8 9278 253
Slide 10: Appendix
t(?(_(_(]___ SS @Rovalley Appendix
Slide 11: Italian Gas Market
Italian Gas Market 3rd largest European gas market – population of 60 million Highly import dependent - (90% gas, 85% oil) More than 60 E&P companies present including majors ENI, Shell, Total, Exxon, BG Annual production: Oil ~ 35 mmbbls - Gas ~ 2.8 tcf 118 Onshore and 66 Offshore production conces
Slide 12: Board Of Directors
Board Of Directors Mr Graham joined PVE as a director Mr Kevin Kevin was appointed Non Executive Graham and Chairman in September 2004 Eley Director in June 2012 and was the Bradley and is based in Sydney. He is Chief Executive of HGL Limited for 25 Chairman currently Chairman of Stockland years. He
Slide 13: Management Team
Management Team Sara joined the company in July 2010: she is fluent in Italian, and for the Mrs Sara Edmonson past five years worked both in Italy and internationally for Ernst & Young Chief Financial Officer Transaction Advisory Services. Franco is one of the top experts of the Oil and Gas industry
Slide 14: Producing Gas Fields
Producing Gas Fields CASTELLO Production started December 2009 Produced intermittently in May and June 2010 then production from existing Vitalba1dir well limited to 3,000 scm/day until July 2011 New Vitalba1dirA well was deviated from the current Castello gas plant location and connected to the exi
Slide 15: Development Assets
Development Assets BEZZECCA Located in the Cascina San Pietro permit (near Milan) Bezzecca-1 well drilled and 3 levels tested (total 3.9 MScf/day) Well completed on 3 levels Preliminary Production Concession awarded September 2012 Phased development plan with tie-in to Castello gas plant proposed (6
Slide 16: Appraisal Assets
Appraisal Assets CANOLO AND ZINI (Cadelbosco and Grattasasso permits) Well WellCanolo Canolo -1/-2 1 Targeting the former ENI producing Correggio gas field Past production ~250 bcf @633m Qu/A Full grant of the licences awarded in March 2011 Purchased 111km of 2D seismic data from ENI @1080m PL2/A 2
Slide 17: Oil Discoveries
Oil Discoveries HIGH IMPACT PROJECTS BAGNOLO IN PIANO (Cadelbosco Di Sopra) - RAVIZZA (Grattasasso) BAGNOLO IN PIANO Discoveries drilled between 1970 and “Deep” lower Cretaceous fractured limestone play 1982 3 wells drilled & tested oil (19.7°API, 200bbls/day) Commercial proven oil targets RAVIZZA B
Slide 18: Expansion Offshore: AR94PY
Expansion Offshore: AR94PY HIGH IMPACT PROJECT Northern Adriatic sea: offshore extension of Po Valley Exploration permit awarded in July (previously AR168PY) Major gas production zone in Italy Shallow water depth ~ 30/35m Full 3D seismic coverage already available 4 drilled and tested gas discoverie
Slide 19: Exploration Projects
Exploration Projects GRADIZZA PODERE GALLINA La Prospera exploration Cembalina prospect’s permit interpretation with seismic Target depth 1,000m acquired in 2011 – finalised Drilling approval - pending Target depths 500/2,000m Prospective Resources Fondo Perino prospect – (unrisked) - best estimate*
Slide 20: Po Valley Energy Reserves & Resources
Po Valley Energy Reserves & Resources RESERVES, GAS (bcf) Licence Project 1P 2P 3P Sillaro Sillaro 6.3 7.1 - Castello Castello 1.0 1.8 2.5 CONTINGENT RESOURCES, GAS (bcf) Licence Project 1C 2C 3C San Vincenzo Sant'Alberto 1.8 2.1 2.8 C. San Pietro Bezzecca 0.7 4.1 6.7 Crocetta Fantuzza (*) 1.8 (*) 5
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