Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — ASX Small-Mid Caps, Hong Kong 2008
19 slides from Melbana Energy's conference presentation, Oct 16, 2008
Slide 1: Presentation Disclaimer
Presentation Disclaimer This presentation contains includes certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause tho
Slide 2: Corporate Snapshot
Corporate Snapshot ASX Code MEO Founded Year 1994 IPO Year 1998 Issued Capital million 417.3 Last price (14-Oct) A$ $0.18 Market Cap A$m $75 Cash (30-Sep-08) A$m $34 Options (unlisted) Million 11.4 Top 20 shareholders % 44.2% Chairman Warwick Bisley Retiring > AGM (Nov'08) Chairman-elect Nick Heath
Slide 3: Quality projects in established GTL provinces
Quality projects in established GTL provinces Bonaparte Basin Carnarvon Basin NT/P68 (90%-100%) Tassie Shoal (50%-90%) WA-360-P (60-70%) WA-359-P (60-70%) WA-361-P (35%) 12,070 km2 Approved GTL Projects Drill/drop 1-Jan-09 Drill/drop 1-Jan-09 Heron North (90%) Environmental Approvals Zeus Prospect W
Slide 4: RDI Farmin – A Transformational Deal
RDI Farmin – A Transformational Deal • Strategic alliance with Resource Development International (RDI) – Encompasses all projects – Partially contingent upon IPO (proceeding notwithstanding tough market) • Who is RDI: – Sponsored by Mineralogy (Prof Clive Palmer’s private company) – Strong links to
Slide 5: Interests in highly prospective NWS Permits
Interests in highly prospective NWS Permits WA-359, 360 & 361-P • Premium location – domestic market – Existing/planned LNG • Zeus-1 (WA-361-P) – Nov’08 – >10 Tcf GIP potential – Drill/drop option • 1-Jan-09 (359/360) FLNG – “the game changer” MEO Australia energy for the future MEO Australia Limite
Slide 6: Zeus play based on Perseus gas field
Zeus play based on Perseus gas field in adjacent fault block WA 361 P Gandara-1 WA 259 P Tigger-1 Lacerta-1 Zeus Prospect WA 360 P Egret-2 Athena-1 Capella-1 Persephone-1 North Rankin-4 Perseus-1 Eastbrook-1 Persephone Perseus Malus-1 Lynx-1 Top Brigadier Formation TWT MEO Australia energy for the f
Slide 7: Zeus – 10+ Tcf GIP
Zeus – 10+ Tcf GIP similar seismic attributes to Perseus gas field Zeus Perseus (WA-361-P) (NWS GP) MEO Australia energy for the future MEO Australia Limited
Slide 8: Context - LNG Projects need high quality gas
Context - LNG Projects need high quality gas + Category Tcf % Commercial impediments Developed Dirty (high in CO2) NWS Gas Project (Liquids rich) 33 23% Dry (low in NGL's) Bayu-Undan (Liquids rich) 3 2% Total Developed 36 25% Distant (from I/S) Developing Deep water Pluto/Xena (Leverages WPL) 5 3% D
Slide 9: Bonaparte Basin – CO2 challenged gas
Bonaparte Basin – CO2 challenged gas MEO’s solution • Convert hi CO2 gas to methanol • Blend for optimal development • Tassie Shoal – a central hub – Undisputed Australian waters – Proximal to gas discoveries 150km radius – Minimises pipeline distances – Developing own gas (NT/P68) – Welcome 3rd par
Slide 10: Tassie Shoal - the future hub
Tassie Shoal - the future hub Approved GTL Projects • Non-disputed Australian waters • 50 year environmental approvals secured (EPBC Act) • Potential fast-track to market MEO Australia energy for the future MEO Australia Limited
Slide 11: Methanol – a CO2 sink
Methanol – a CO2 sink Carbon Sequestration by the Steam Methane Reforming (SMR) Methanol Process • Gas Reforming: 3 x [CH4 + H2O => CO + 3H2] + [CO2 + H2 => CO + H2O] ie 3CH4 + CO2 + 2H2O => 4CO + 8H2 • Methanol Synthesis: 4CO + 8H2 => 4CH3OH • 1 mol CO2 with 3 mols CH4 is ideal for synthesis to met
Slide 12: Tassie Shoal GTL Projects
Tassie Shoal GTL Projects An integrated solution for CO2 challenged gas Tassie Shoal 680 Tj/d 10% CO2 472 Tj/d Raw gas Field CO2 LNG 0% CO2 LNG Plant Processing Separation Pipeline 3.0 Mt/y 34 Tj/d Fuel (LNG) 10% CO2 173 Tj/d LPG & Methanol Condensate 26% CO2 Plant Methanol 1.75 Mt/y Requires ~4.7 T
Slide 13: MEO’s gas discoveries on regional trend
MEO’s gas discoveries on regional trend NT/P68: Gas discoveries 2008: Heron-2 (Gas discovery) - Elang/Plover, Heron Nth Structure Blackwood-1 (Gas discovery) - Plover, Blackwood structure 1972: Heron-1 - Darwin, Epenarra structure - Elang, Heron Sth structure MEO Australia energy for the future MEO
Slide 14: Methanol Substructure and storage in conventional CGS substructure
Methanol Substructure and storage in conventional CGS substructure Technical specifications Capacity: 5,000 tpd, 1.75 Mtpa DPT/JM SMR process Can convert high CO2 gas (20%-35%) CGS dimensions: ~200,000 t - Base: 170m x 93m x 35m - At top:180m x 100m (wave deflection) Installed in 14m water depth Con
Slide 15: Proven substructure solution 40+ CGS’s installed to date
Proven substructure solution 40+ CGS’s installed to date ExxonMobil Adriatic LNG Re-gas terminal: Similar footprint to TSMP 50% taller due to water depth MEO Australia energy for the future MEO Australia Limited
Slide 16: LNG plant – industry standard ACE platform
LNG plant – industry standard ACE platform Technical specifications 3 Mtpa (EPBC approved) - APCI DMR process - Indirect seawater cooling Ace platform (self installing) - 100x50x8m, 15m water depth Topsides 15,000 t 1x 170,000 m3 storage tank (on CGS) Capex ~US$1.6bn (~US$550m/Mtpa) Hang Tuah platfo
Slide 17: Further refinements
Further refinements TORP Hi-Load System for remote LNG loading • Torp HiLoad loadout system • Replaces jetty & tugs (3) • Similar Capital Expenditure • Substantial Opex savings MEO Australia energy for the future MEO Australia Limited
Slide 18: Summary
Summary • New board & executive management team • Strategic alliance with RDI* – Clear funding strategy notwithstanding difficult market conditions • Zeus-1 (WA-361-P, 35% equity) November 2008 – Multi-Tcf potential + plethora of development options = leverage! – Election to drill on adjoining acrea
Slide 19: Thank you
Thank you MEO Australia Limited Level 17, 500 Collins Street Melbourne 3000 Australia T: +61 3 9614 0430 F: +61 3 9614 0660 C: +61 4 0811 1393 E: jurgen.hendrich@meoaustralia.com.au W: www.meoaustralia.com.au MEO Australia energy for the future MEO Australia Limited