Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — Shareholder Meeting (October 2011)
16 slides from Melbana Energy's shareholder meeting presentation, Oct 27, 2011
Slide 1: Report to shareholders
Report to shareholders AGM 27th October, 2011 1
Slide 2: In 2010 the focus was on Artemis-1 / WA-360-P
In 2010 the focus was on Artemis-1 / WA-360-P this interest allowed us to strengthen our balance sheet and pursue new growth options W WAA -- 33 66 11 -- PP MARTELL Chevron – 8.9 Mtpa LNG (Onslow) FID: September 2011 ANGEL CHANDON PERSEUS COSSACK RANKIN NORTH WANAEA W W AA -- 33 66 00 -- PP GOODWYN
Slide 3: During 2011 we broadened our portfolio
During 2011 we broadened our portfolio we added 6 new permits – which included 3 existing gas discoveries Seruway Purchase Price US$5m Purchase Price South Madura US$0.5m Purchase Price US$0.27m Gazettal + Gazettal Low cost Bonaparte Portfolio Carnarvon adds 3
Slide 4: and expanded into SE Asia
and expanded into SE Asia Now hold 9 permits including 2 in SE Asia, Operator of 7, 100% interest in 5 30th June 2010 Melbourne Office Bonaparte – NT/P68 (MEO 100%) People: 10 Full Time Equivalents Blackwood and Heron Discoveries Cash Reserves: $36.0 million requiring appraisal Tassie Shoal Projects
Slide 5: We acquired a business with a Jakarta office
We acquired a business with a Jakarta office staffed by a dedicated core team to manage our Indonesian business Jakarta Office Staff Muslim Basya President Tri Pudjiastuti Finance Manager Asvil Martin Senior Accounting Rani Primalia Admin Asssistant Hidayat Finance Assistant Radian Z. Hartama Govern
Slide 6: and expanded our in-house capabilities
and expanded our in-house capabilities to discover & unlock the inherent potential within the expanded portfolio Executive management, commercial, finance & administration (Melbourne Office) Karen Dennison * Sasha Aistrope Jürgen Hendrich Executive Assistant Chief Executive Officer Executive Assista
Slide 7: We prudently managed our capital reserves
We prudently managed our capital reserves raising capital at times of high demand & instigating a share buyback in late September 0.80 MEO Cash Reserves [per Share] 0.70 MEO Share Price • Capital raised at times of high demand • Cash underpins current share price 0.60 Share Placement to Institutiona
Slide 8: and concluded a farm-in with Eni Australia Ltd
and concluded a farm-in with Eni Australia Ltd up to 2 fully tested Heron wells and 1 fully tested Blackwood well + 3D seismic for 50% interest 60 36 Months 180 Days Days Eni MEO holds 25% Eni Drills Eni Drills Eni increases All Activities to FID * Obligations of sanctioned Heron 3 Heron 4 equity
Slide 9: Heron-3 will test ~5 Tcf potential in March 2012
Heron-3 will test ~5 Tcf potential in March 2012 in the Heron South fault block - potential LNG scale resource Heron-2 Heron-1 KEY FACTS NT/P68 - Timor Sea, Australia Blackwood East Blackwood Well Well Strategic Develop Heron & Blackwood gas NT/P68 Objective discoveries Heron MEO W.I. 50% + Line of
Slide 10: Discussions on Tassie Shoal Gas Hub continued….
Discussions on Tassie Shoal Gas Hub continued…. This ready made solution to the prevailing commercial challenges stands ready to deliver Financial Economic Government & Investment Resource Project Resource Size + Deliverability + Development Concept +Environmental Approvals + Stakeholder Approvals =
Slide 11: We acquired WA-454-P in the 2010 gazettal round
We acquired WA-454-P in the 2010 gazettal round With a liquids rich gas discovery + 2 attractive robust prospects – near infrastructure KEY FACTS WA-454-P – Timor Sea, Australia Strategic Discover & develop liquids rich gas Objective resources MEO W.I. 100% Operator MEO Water Depth ~ 100 metres GDF
Slide 12: 3 New AC blocks: 2 purchased, 1 via gazettal
3 New AC blocks: 2 purchased, 1 via gazettal a contiguous acreage position in proven gas & oil fairway near recent success at Cash-2 KEY FACTS AC/P50, AC/P51, AC/P53 – Timor PTTEP – FLNG Pre-FEED Sea, Australia Cash-2 test results #1: 28 Mmcfd/737 bcpd Strategic Explore for and prove up significant
Slide 13: Purchased 100% of Seruway PSC – North Sumatra
Purchased 100% of Seruway PSC – North Sumatra A ready made portfolio with gas discoveries near growing gas markets & infrastructure KEY FACTS Seruway PSC – Aceh Province, Indonesia Gurame & Gurame Deep 3 Wells Tested Gas: Bago-A2, ONS-A3X, ONS-A5X Strategic Appraise commercial gas resources Objectiv
Slide 14: Providing significant drilling in 2012
Providing significant drilling in 2012 Disciplined approach yields low entry cost, high value added & 3rd party funding for drilling 2011 2012 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 AUSTRALIA Carnarvon Basin WA-360-P 3D Seismic WA-360-P, WA-361-P Permit in (MEO 25% WI, 50% WI) Renewal WA-361-P Application Timor Se
Slide 15: MEO is well positioned for growth
MEO is well positioned for growth Expanded portfolio & team of talented professionals, poised to unlock significant value in 2012 Blackwood East Heron-2 Heron-1 Blackwood Well Well Seruway NT/P68 Heron Purchase Price Line of Cross Section US$5m Lowest Known Gas (LKG) = 4115m SS GCA Mid Case = gas do
Slide 16: Disclaimer
Disclaimer Compliance 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 tho