Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — RIU Good Oil Conference 2010
11 slides from Melbana Energy's conference presentation, Sep 8, 2010
Slide 1: Disclaimer / RIU Good Oil Conference
Disclaimer This presentation 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 those acts, events and ci
Slide 2: Monetising big gas requires export markets
Monetising big gas requires export markets Two commodity choices – LNG (preferred) or Methanol (high CO2) Asian Net Gas Imports (LNG) World Methanol Consumption 140 50 China 120 40 100 China 30 80 Other 60 20 South Korea 40 Rest of World Japan 10 20 Mtpa Mtpa Source: BP Statistical Review 2009 Sourc
Slide 3: Team with large company experience
Team with large company experience Technical rigour underpins commercial decisions Nick Heath Non-Executive Chairman Colin Naylor • Appointed May 2008 CFO/Company Secretary • Engineer • 30 years at Woodside, BHP, Rio • >30 years with ExxonMobil • Past APPEA President Jürgen Hendrich MD & CEO Robert
Slide 4: MEO's acreage strategically located
MEO’s acreage strategically located Near existing LNG projects hungry for additional gas resources Age of Main Gas Reservoir (Trap) Jurassic (Structural-Stratigraphic) Cretaceous (Structural) NWS Project (30 Tcf) Upper Triassic (Structural) East Artemis Existing Prospect 16.3 Mtpa (5 trains) Upper T
Slide 5: 12 Tcf Artemis prospect revealed on MEO 3D
12 Tcf Artemis prospect revealed on MEO 3D Analogous to Perseus field - DHI* termination = Gas Water Contact? East Artemis Prospect: WA-360-P (MEO 25%+) Perseus Field – NWS JV (nearby analogue) Base Calypso Amplitude Interpreted gas-water Depth Map Extract contact Published outline of field Interpre
Slide 6: Rigorous geophysical analysis
Rigorous geophysical analysis used to identify & quantify probability* of gas sands occurring Acoustic Impedance 80% Gas Sand probability envelope Poisson’s Ratio Simultaneous inversion was undertaken to produce three datasets (Acoustic Impedance, Poisson’s Ratio and Gas Probability*) that were used
Slide 7: Tassie Shoal – a regional solution
Tassie Shoal – a regional solution for high CO2 gas, remote resources & high development costs Timor-Leste Methanol Gas Loading Buoy Supply N PLEM Pipelines 2500m Methanol Abadi Cooling Plant (5,000 Water tpd stage 1) Indonesia Outlet Greater Australia Barossa ACP LNG Storage Sunrise Evans Shoal LNG
Slide 8: MEO gas discoveries require appraisal
MEO gas discoveries require appraisal Farm-out pending finalisation of resource certification NT/P68 (MEO 100%) Renewal Outline Magellan buys 40% of Evans Shoal (28% CO2) for up to A$200m NT/P68 Blackwood 3D Top Elang/Plover Reservoir Contour Interval: 20 m Epenarra 3D over Heron North/South 8
Slide 9: 3D used to predict reservoir sweet spots
3D used to predict reservoir sweet spots Porosity preservation linked to early gas charge in initial structures Heron-2 porosity = 6% Improved porosity coincides with low AI suggested by seismic Improved porosity suggested by seismic 9
Slide 10: Active portfolio management
Active portfolio management Identify potential, realise value, seek attractive new ventures 2H2009 2010 1H2011 WA-360-P (25%, Carnarvon) • Complete data room process • Select preferred farminee negotiate execute • Farmout agreements FIRB Permit Tfr • Regulatory approvals Artemis-1 (WA-360-P) • Raise
Slide 11: Summary
Summary Planets are aligning for substantial potential value to be tested • Balanced board, experienced management team • Material gas projects near existing infrastructure • 25% equity in ~12 Tcf Artemis prospect – Nov 2010 • ~A$70m cash (post regulatory approvals) • 100% equity in Timor Sea gas di