H3 Energy Limited · ASX:H3E
H3 Energy — Whitebark Energy — Investor Presentation (August 2018)
17 slides from H3 Energy's investor presentation, August 2018
Slide 1: Expanding Scale and Opportunities
Expanding Scale and Opportunities CASH GENERATING OIL & GAS OPERATIONS WITH SIGNIFICANT EXPLORATION UPSIDE August 2018
Slide 2: Disclaimer
DISCLAIMER No representation or warranty, expressed or implied, is made by Whitebark Energy Ltd that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, Whitebark Energy, their officers, employees and advisers
Slide 3: Highlights
HIGHLIGHTS • Growing production + significant exploration upside. • Canadian JV Cash flow positive. • 20% working interest in the Point Loma Joint Venture in Canada. • Production increased 125% in the past 12 months. • Expected to double in the next 12 months. • 15% interest in Xanadu prospect in th
Slide 4: Board and Management
BOARD AND MANAGEMENT Charles Morgan David Messina Stephen Keenihan Chairman Managing Director Technical Director Mr Morgan is a resources and technology Mr Messina has over 20 years senior executive Mr Keenihan has more than 40 years strategist who has successfully identified experience successfully
Slide 5: Corporate Overview
CORPORATE OVERVIEW Whitebark Shareholders July 2018 PRE RIGHTS ISSUE Capital Board & Management, 20% • Shares on issue 990m Other, 37% • Options on issue 112.7m Top 20 (ex. price 1.5c – 2021) Shareholders, 43% Cash • Cash as at 30 June 2018 $1.1m Whitebark Energy Share Price • Debt Nil 2.0 40 Millio
Slide 6: Assets
ASSETS PRODUCTION Alberta, Canada (20% JV interest) • Joint Venture with Point Loma Resources Limited (TSXV: PLX), a trusted local partner – PLJV. • Gross production ~ 1100-1200 boe/d, ~365-400 boe/d net to WBE**. • WBE Production has doubled in last 12 months and targeting to double again in the ne
Slide 7: Value Drivers
VALUE DRIVERS CANADA • Existing production is cash flow positive. • Active work program with payback between 9 and 18 months: • Facility upgrades at Paddle River to reduce cost and increase profitability; • Development Well planned at Paddle River in the next 6 months to unlock significant upside; •
Slide 8: Strategy
STRATEGY Well-defined growth strategy: Low Cost Opportunistic Reserves and • Production focus: exploit established infrastructure Purchases Production Growth through rapid production growth and short payback Good Quality Assets at historically low prices Assess drilling vs periods: acquisition cost
Slide 9: Increasing Production & Reserves
INCREASING PRODUCTION & RESERVES* * Refer ASX Release 26 March 2018
Slide 10: Paddle River Oilfield Development Project
PADDLE RIVER OILFIELD DEVELOPMENT PROJECT Paddle River Facility Upgrade Planned 04-33 Horizontal Well 10+ Further Development Locations • PLJV currently incurring approximately $8/bbl of oil in Water • Drill: $1.1m, Complete: $850,000 Tie-in: $150,000 handling and disposal costs at Paddle River. • A
Slide 11: 3D Seismic Program
3D SEISMIC PROGRAM* • 3D Seismic Program completed in March 2018. • Identified over 40 million boe in place (gross) (8.4 mmboe net to WBE): • Ostracod Oil Prospect: 10 mmboe in place • Nordegg Oil Field Extension: 12 mmboe in place • Banff Oil Prospect: 20 mmboe in place • Ostracod Oil Prospect iden
Slide 12: Duvernay Shale Oil Lands
DUVERNAY SHALE OIL LANDS* • WBE currently has 20 – 30% interest in approximately 19,000 acres in Land Position on Emerging Play the West Duvernay Basin as part of the Point Loma JV (PLJV). • Horizontal wells are currently being drilled by other operators within existing Paddle River & Gilby lands. •
Slide 13: Xanadu Oil Discovery
XANADU OIL DISCOVERY* • Xanadu Oil Discovery located within TP15 250km North of Perth. • Well drilled in Sept 2017 and intersected hydrocarbon bearing reservoirs. • Wireline logs confirmed reservoir quality sands over Irwin River Coal Measures with porosities between 15-16% and hydrocarbon saturatio
Slide 14: Warro - 100% Perth Basin WA
WARRO –100% PERTH BASIN WA The largest undeveloped onshore gas field in Australia • Warro is a gas prospect with 4.4 to 11.6* Tcf GIIP. • WBE holds a 100% working interest. • Four wells drilled and 3D seismic acquired under the Alcoa JV. • $95m spent on the project. • Waiting on fracking embargo to
Slide 15: Priorities - Next 12 Months
PRIORITIES - NEXT 12 MONTHS Opportunistic Purchases Acquire 2 -3 more properties within WBE strict acquisition metrics. Low cost reserves and Drill a minimum of 3 wells with payback metrics less than 18 months. production growth Strategic Partnerships Build on existing relationships and secure
Slide 16: References and Competency Statements
REFERENCES AND COMPETENCY STATEMENTS The Company confirms that that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of oil and gas Reserves and Contingent Resource Estimates, that all material assum
Slide 17: Thank you
Thank you David Messina Managing Director E: David.Messina@whitebarkenergy.com
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