Metgasco Ltd · ASX:MEL
Metgasco — Shareholder Meeting (November 2019)
20 slides from Metgasco's shareholder meeting presentation, Nov 28, 2019
Slide 1: Investor Presentation: a focus on high impact, onshore Cooper/Eromanga and Perth basin assets
For personal use only Investor Presentation: a focus on high impact, onshore Cooper/Eromanga and Perth basin assets ASX: MEL 28 NOVEMBER 2019
Slide 2: Agenda
Agenda ‒1 Company snapshot For personal use only ‒2 Achievements over the last 12 months ‒3 Metgasco’s strategy ‒4 Perth Basin - Cervantes ‒5 Cooper/Eromanga Basin ATP2021/PRL 211 ‒6 Cooper/Eromanga Basin ATP2020 ‒7 Byron Energy investment and planned in-specie return to shareholders ‒8 Indicative e
Slide 3: Company snapshot
Company snapshot Metgasco is an active exploration company poised for growth For personal use only Company overview ▪ Experienced team focused on creating shareholder value Substantial shareholders & Board M&A Advisory Pty. Ltd. 19.59% ▪ An exploration focus in the prolific onshore Australian Cooper
Slide 4: Achievements over the past months
Achievements over the past 12 months Significant achievements have been made in the last 12 months in 3 key focus areas For personal use only Perth Basin Cooper Eromanga Basin Byron/Corporate ✓ September 2019: signed Perth Basin ✓ ATP2021 and ATP2020 prospectivity ✓ Drilled the Weiss Adler-1 well in
Slide 5: Metgasco: Strategy / Asset Overview
Metgasco: Strategy / Asset Overview Strategy - Deliver shareholder returns from current and new E&P assets/investments and be the partner of choice For personal use only South Marsh Island 74 Onshore Perth Basin Cooper/Eromanga Basin USA GOM/Byron Energy ▪ Basin entry farm-in to drill ▪ 4 permits -
Slide 6: Perth Basin: L14 - Partnership with RCMA and Vintage
Perth Basin: L14 - Partnership with RCMA and Vintage ▪ On 9 September 2019, Metgasco executed a binding farm-in agreement into the North Perth Basin L14 For personal use only licence area with RCMA for the right to drill and fully fund up to two exploration wells to earn a 60% interest in any hydroc
Slide 7: Perth Basin: L14 - High Rate Oil/Shallow Kingia Dongara
Perth Basin: L14 - High Rate Oil/Shallow Kingia Dongara Drivers for Deal in L14 For personal use only ▪ Under-explored oil prone area ▪ Kingia/High Cliff reservoir potential proved by Waitsia /West Erregulla discoveries ▪ Cervantes prospect shallow ▪ Leveraging knowledge and experience of Metgasco t
Slide 8: W-E Section: Twin Lions - Cervantes - Waitsia
W-E Section: Twin Lions - Cervantes - Waitsia A A’ For personal use only Cervantes Dongara Kingia HCSS ▪ The regional cross section illustrates the tilted fault blocks of the hydrocarbon bearing Perth Basin ▪ Cervantes shares similar structural features with successful discoveries east of the prospe
Slide 9: Perth Basin: L14 - Cervantes prospect
Perth Basin: L14 - Cervantes prospect Potentially one of the largest undrilled oil opportunities in the Perth Basin (Gross P50 For personal use only OOIP 35mmbo), with geological similarities to nearby discoveries Near Top Kingia Depth (mTVDss) Exploration Key Data Cattamarra Coal Country Australia
Slide 10: Perth Basin: L14 planning to drill Cervantes prospect
Perth Basin: L14 planning to drill Cervantes prospect ▪ Metgasco has been seconded as exploration project manager by For personal use only RCMA for the term of drilling. Expected spud Q3 CY2020 ▪ The deviated well design will target 3 different hydrocarbon intervals in Cervantes being the Dongara, K
Slide 11: Cooper Basin ATP2021/PRL - Local fields and prospects
Cooper Basin ATP2021/PRL 211 - Local fields and prospects ATP2021 surrounded by commercial gas and oil fields – Cumulative gas prod of ~600Bcf within 20km of permit boundary. For personal use only Odin Cum. Cum Prod. Prod Field (Bcf) (mmbl) Beckler 32.4 Bow 4 Burke 55.6 Crowsnest 11 Dullingari 307 1
Slide 12: Cooper Basin ATP2021 - Metgasco free carry on Vali-1
Cooper Basin ATP2021 - Metgasco free carry on Vali-1 Metgasco has successfully achieved a free carry on the Vali-1 well via successful farm-outs – Well Spud expected Mid December For personal use only ▪ May 2019 Vintage farm-in terms: Patchawarra VC50 Depth Map ‐ Pays 65% of cost of Vali-1 well to e
Slide 13: ATP2021 Shallow Oil Potential
ATP2021 Shallow Oil Potential A significant number of shallow oil potential leads – Seismic re-processing underway For personal use only Oil Leads ATP2021 ▪ ATP2021 is surrounded by wells with oil shows throughout the Jurassic/Cretaceous stratigraphic section ▪ Exploration in and around the permit h
Slide 14: PRL211 Farm-in - Odin prospect to drill CY2020
PRL211 Farm-in - Odin prospect to drill CY2020 • PRL 211 adjacent to ATP2021 licence - Odin gas prospect straddles both permits For personal use only • ATP2021 JV paying 100% of Odin gas exploration well for 85% licence interest • Metgasco will own net 21.25% of PRL 211 licence via paying 25% net (
Slide 15: ATP2020: Loki lead
ATP2020: Loki lead Overlooked, underexplored area with shallow oil and gas potential close to infrastructure For personal use only Exploration Key Data Near Top Toolachee TWT Structure Map CI:0.005s Country Australia Independent Basin Cooper/Eromanga 4 way dip closure Leads Licence ATP2020 Well Loki
Slide 16: Byron Energy: A strategic investment for growth
Byron Energy: A strategic investment for growth Metgasco’s 3+ year investment relationship with Byron Energy has delivered strong For personal use only returns to our shareholders, despite exploration disappointments in the Gulf of Mexico MEL drilled two wells via June 2016: Staged Today: Byron Inve
Slide 17: 2019/2020 Indicative exploration timeline
2019/2020 Indicative exploration timeline Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 For personal use only Vintage deal Spud Vali mid December Complete/ Test Book reserves and 1st Farm- Drill Vali ATP2021/PRL211 Well? development Cooper Basin out Hand over operatorship. Well prospect planning?
Slide 18: Corporate: Melbana bid and other considerations
Corporate: Melbana bid and other considerations ▪ In July of 2019 Melbana Energy (ASX:MAY) announced a conditional intention to bid for MEL For personal use only ‐ The all-scrip bid, offering 4 MAY shares for every 1 MEL share, has been reviewed in detail by the Metgasco Board and its unanimous reco
Slide 19: Conclusions - Upcoming investment highlights
Conclusions - Upcoming investment highlights Near term operational, corporate and macro news flows will provide a number of share For personal use only price catalysts Spud/Drill Vali-1 prospect Planning progressing to drill Vali prospect on ATP2021 in mid Dec ATP2021 2019. On success complete/test
Slide 20: Disclaimer / Prospective Resource Notes
Disclaimer / Prospective Resource Notes ▪ This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made as to the fa