Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Investor Presentation (March 2009)
24 slides from Karoon Energy's investor presentation, March 2009
Slide 1: Karoon Gas Australia Ltd March 2009 Review
KAROON GAS AUSTRALIA LTD MARCH 2009 REVIEW
Slide 2: Karoon Gas snapshot
2 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Karoon Gas snapshot n Approximately 149 million shares and 6 million options. n Market capitalisation approximately A$340 million @A$2.30. n Cash in bank A$140 million. n Karoon Inclusion in S&P\ASX 200 Index n Browse Basin drilling program commenced
Slide 3: Karoon Gas Australia's key personnel
3 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Karoon Gas Australia’s key personnel Board Technical ROBERT HOSKING Executive Chairman LINO BARRO Engineering Manager Founding Director of Karoon Gas with 30 years of 28 years’ experience in reservoir and development commercial experience. Involved in
Slide 4: Australian Assets
4 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Australian Assets TIMOR Karoon Permit AC/P8 BAYU-UNDAN INDONESIA DARWIN Karoon Permit WA-314-P AUSTRALIA Karoon Permit WA-315-P LNG PLANT ICHTHYS NORTHERN T E R R I TO RY TOROSA Karoon Permit Map Darwin WESTERN Area WA-398-P AUSTRALIA AUSTRALIA Perth
Slide 5: Browse Basin
5 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Browse Basin GRACE P50 5.7tcf Argus Gas/condensate WA-314-P & WA-315-P field 2tcf ? (Karoon estimate) Abalone 1 Karoon 49% KON-TIKI P50 7tcf ConocoPhillips 51% Phrixus 1 ARGUS Lead-E P50 5 tcf WA-314-P Buffon-1 Woodside plans to spend Poseidon-1 well
Slide 6: Browse Basin Drilling Program
6 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Browse Basin Drilling Program Poseidon-1 well location and seismic section Poseidon-1 spudded: 26th January 2009 Target: Jurassic sandstones at approx 4400mss Prospective resource: 7TCF (P50) Planned Total Depth: 4800mss
Slide 7: Comparisons
7 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Darwin Comparisons Map area WA Fields Reserves v. Karoon’s Exploration Prospects. Perth WOODSIDE’S NORTHWEST SHELF PROJECT n Allowing for some exploration success, there is potential in the Karoon acreage for the discovery of reserves of similar magni
Slide 8: Farm-out
8 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Farm-out Karoon Gas Australia Ltd has entered into agreements to farm out up to a 60% interest in its Browse Basin permits, WA‑314‑P and WA‑315‑P to ConocoPhillips. Acquisition of 51% Interest Option to Increase Interest to 60% ConocoPhillips will acq
Slide 9: Schematic
9 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Schematic Karoon LNG/condensate/LPG indicative development model economics (assuming a discovery of 7 TCF). Field development, pipeline and LNG facilities schematic (onshore LNG option). Gas/liquid separation Refrigeration Gas dehydration Storage Gas/
Slide 10: Net cash flow (US$million)
10 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Combined net cash flow Karoon LNG/condensate/LPG indicative development model economics. Net cash flow for combined offshore liquids removal and onshore LNG – 100% Share. 4000 PRRT begins 3000 2000 Exploration & Appraisal Net cash flow (US$million) 1
Slide 11: CAPEX (US$million – 2007) Karoon share
11 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Capex profile Karoon LNG/condensate/LPG indicative development model economics. Karoon 40% share – 2007 US dollars 1800 1600 CAPEX (US$million – 2007) Karoon share 1400 1200 1000 800 600 Karoon 20% only for 2 appraisal wells 400 Karoon 20% only 200 0
Slide 12: Product Revenues (US$million)
12 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Product revenues Karoon LNG/condensate/LPG indicative development model economics. Product revenues for combined offshore liquids removal and onshore LNG – 100% Share. 6000 5000 Product Revenues (US$million) 4000 3000 2000 1000 0 2007 2008 2009 2010
Slide 13: Market Update
13 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Market Update LNG SALES AGREEMENTS 2007, Woodside signed a Key Sales Terms Agreements with the Chinese for approximately 2TCF at a price of approximately A$9-10 billion per TCF for delivery over the next 20 years ex. Browse Basin. LNG SPOT SALES AGRE
Slide 14: AC/P8
14 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW AC/P8 Location: Close to the Laminaria/ Claudia NW Corallina production facility with JPDA 06-105 production tie in potential. Claudia-1 Potential: Main prospect ‘Jania’ with Vidalia-1 Kuda Tasi Field up to 20mmbl potential prospective Pandorina-1 Sp
Slide 15: Brasil Santos Basin
15 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Brasil Santos Basin SAO PAULO Location: On trend with Caravella / Merluza fields. OGX listed in Brazil with a market cap of Tambau Atlanta US$20billion raising Belmonte PJS-559 Potential: 3 main leads with 100 to US$3 billion. OGX has 21 blocks in fo
Slide 16: Brasil Santos Basin
16 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Brasil Santos Basin S-M-1031 S-M-1035 S-M-1036 S-M-1037 6BRSA 661 SPS New Petrobras gas discovery Norse Norse Karoon Energy Energy Petrobras in block BM-S-7 Pay found in sandstone reservoirs at a depth S-M-1100 S-M-1101 S-M-1102 S-M-1103 S-M-1105 of
Slide 17: Karoon Santos acreage
17 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Karoon Santos acreage Santonian Play Summary. n The salt related structural style in the Santos Basin creates large scale structures in Karoon’s acreage where high quality Santonian Santonian reservoirs are interpreted to be present. Reservoirs n The
Slide 18: Karoon Santos acreage
18 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Karoon Santos acreage 1-BRSA-607A 1-BRSA-658 Eocene Play Summary. new discovery new discovery n 1-SPS-56 Eocene discovery n Preliminary analyses; Oil’s specific gravity is 36 ºAPI (light). n Lined well production test at 2080m proved high flows with
Slide 19: Peru Tumbes Basin Z38
19 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Peru Tumbes Basin Z38 Location: Offshore Peru close to BPZ 12,000 bopd test in new pool discovery in producing fields and discoveries. Corvina Field Shell farmin to BPZ block Z1 $300million work program Mach Potential: 2 main leads with 100 Armistad
Slide 20: Peru Tumbes Basin Z38
20 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Peru Tumbes Basin Z38 Seismic line example. n Clear gas DHI’s with flatspot and structural fit with amplitude ratio updip to downdip of around 5 to 10 times.
Slide 21: Conclusions
21 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Conclusions Australia South America n Karoon has grown rapidly in the last four years, evolving Karoon’s South American focus area work has resulted in into a company with a a world class acreage position Karoon acquiring good prospective acreage in:
Slide 22: DeGolyer & MacNaughton Assessment
22 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW DeGolyer & MacNaughton Assessment Karoon recently engaged the services of international by application of future development projects. Prospective consulting company DeGolyer and McNaughton to provide resources have both an associated risk of discove
Slide 23: Disclaimer
23 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Disclaimer This presentation has been prepared by Karoon Gas or returns contained in this presentation nor is any obligation Australia Limited for professional and sophisticated assumed to update such information. Such forecasts, investors. The infor
Slide 24: Index of terms
24 KAROON GAS AUSTRALIA LIMITED MARCH 2009 REVIEW Index of terms TCF: trillion standard cubic feet (1,000,000,000,000 cubic feet) Mmbls: Millions of barrels (1,000,000 barrels) Boe: Barrel of oil equivalent. A term used to combine oil and gas volumes on an energy equivalent basis. (1boe equals appro
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