Bounty Oil & Gas Nl · ASX:BUY
Bounty Oil & Gas Nl — Shareholder Meeting (November 2011)
25 slides from Bounty Oil & Gas Nl's shareholder meeting presentation, Nov 28, 2011
Slide 1: Bounty Oil & Gas NL AGM 28th November 2011
Bounty Oil & For personal use only Gas NL AGM 28th November, 2011 Presentation by: Philip F Kelso - CEO
Slide 2: Disclaimer
DISCLAIMER For personal use only This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables which c
Slide 3: Company Snapshot
Company Snapshot Head Office For personal use only Production Australia Cooper-Eromanga Basins Utopia - 40% Surat Basin Downlands - 24.748% Oil Appraisal Australia Surat Basin Bellbird Oil Field - 33.33% Surat Basin Spring Grove - 24.748% Carnarvon Basin Rough Range - 10% Gas Development Tanzania Ki
Slide 4: Share and Reserve Summary
Share and Reserve Summary (to be updated) For personal use only Share Summary As at 25 November 2011 52 Week Price Range $0.02 to $0.12 Shares Quoted 772,150,982 Options 36,000,000 Fully Diluted 808,150,982 ASX Closing Price $0.02 Market Capitalisation $15.4 million Petroleum Reserve Summary Austral
Slide 5: Achievements 2010/11
Achievements 2010/11 For personal use only • Participated in 6 wells in 2010/11, of which three were successful oil producers, Nyuni 2 was suspended and two were dry holes. 5 2010/11 Progress
Slide 6: Production
Production For personal use only 90.00 Bounty Daily Production by Field 80.00 Naccowlah bopd 70.00 Utopia bopd 60.00 50.00 Boepd 40.00 30.00 20.00 10.00 0.00 Oct-09 Oct-10 Apr-11 Apr-09 Apr-10 Jan-09 Jan-10 Jan-11 Jul-09 Jul-10 Jul-11 • Bounty’s production has been steadily increasing since 2009, of
Slide 7: Production Forecast 2012
Production Forecast 2012 For personal use only 180 Bounty Production Prediction 160 New Projects 140 Kiliwani North 120 Naccowlah 100 Boped Utopia 80 60 40 20 0 Dec-11 Dec-12 Jun-11 Oct-11 Nov-11 Jun-12 Oct-12 Nov-12 Mar-12 Mar-11 Apr-12 Feb-11 Apr-11 Sep-11 Feb-12 Sep-12 Jan-11 May-11 May-12 Aug-11
Slide 8: 2012 Activities and Goals
For personal use only 2012 Activities and Goals 8
Slide 9: Core Oil Business - 2011/12
Core Oil Business - 2011/12 For personal use only • Bounty planning to drill at least 5 development and exploration wells into core oil assets, and • Possibly up to 6 additional wells subject to joint venture approvals • Aiming for at least 50 bopd additional initial production from development, and
Slide 10: High Impact Growth Activities 2011/12
High Impact Growth Activities 2011/12 For personal use only BUY 15% targeting 180 MMbo AC/P 32 Tanzania Nyuni EP 359, ATP 789 412 & 435 Naccowlah BUY 5% targeting 1.3 TCF Gas Utopia PEL 218 Surat Production Exploration High Impact Exploration PEP 11 Offshore Well BUY 15% targeting 4 TCF Gas • Bounty
Slide 11: Project Report Oil Business
Project Report Oil Business For personal use only Oil Business strategy on track to provide further growth: – Seismic studies point to likely drill test of 174 - 180 million bbl oil target at Wisteria West in AC/P 32 Timor Sea – 3D seismic surveys indicate possible 6-8 million bbls at Utopia, Queens
Slide 12: Cooper Eromanga Oil Development
Cooper Eromanga Oil Development For personal use only ATP 789P - 100% SA QLD • Cooper/Eromanga assets now 0 50 100 producing 60 bopd n Kilo m e tre s si B a • 2012 Development, r ope optimisation and NFE o PEL 218 - 23.28% C programme designed to add at least another 25 bopd • 2P reserves 2.0 MMbo U
Slide 13: Utopia Development Drilling
Utopia Development Drilling – BUY 40% For personal use only Endeavour • Bounty participated in two Kooyong development wells Utopia 10 and Cranstoun 11H, both had an experimental Minni Ritchi component to see determine the best way to develop the field. Toolerah Creek 1 Gimboola • Utopia 10 was frac
Slide 14: Utopia 3D Seismic Increases Pool Size
Utopia 3D Seismic Increases Pool Size For personal use only • Preliminary results from the interpretation of the 3D seismic have indicated vastly increased pool sizes and a concomitant increase in reserves • The details of the geometry of the field are still being worked on as the known limits of th
Slide 15: Naccowlah Block Oil Development
Naccowlah Block Oil Development – BUY 2% For personal use only • Bounty’s Naccowlah acquisition has performed well since it became effective and is scheduled to improve in 2012 • Naccowlah produces 35 bopd and has 2P reserves of 150,000 bbls net to Bounty • New developments and optimisation planned
Slide 16: Surat Basin Oil Exploration and Development - Queensland
Surat Basin Oil Exploration and Development - Queensland • Bounty building a portfolio of oil For personal use only Gas Field properties in the low cost Surat Oil Field Gas P rospect / Lead Oil P rospect / Lead Basin in Queensland with targets PL 11 9 B oxvale P rospect / Lead P roduct ion Licence G
Slide 17: Rough Range – Onshore Carnarvon Basin, WA
Rough Range – Onshore Carnarvon Basin, WA For personal use only Rivoli EP 359 • Partners have arranged to farm out EP 435 and 359 EP 435 for shale gas exploration in the Dingo Claystone. Rough Range PL L16 • Bee Eater 1 in EP 359 is still scheduled to be Bee Eater drilled, possibly as part of the fa
Slide 18: AC/P – Vulcan Graben
AC/P 32 – Vulcan Graben - BUY 15% For personal use only Challis Swan Cassini • Wisteria 1, drilled in 2008, now appears to have narrowly missed the up dip Puffin pinchout of the Puffin Sands (Azalea Prospect), possibly by as little as 200 metres. Hibiscus Birch 1 Azalea • Work in 2011 has focussed o
Slide 19: Project Report Gas Condensate Business
Project Report Gas Condensate Business For personal use only Tanzania – Nyuni Block • Development licence for Kiliwani North gas field granted and commercialisation underway • Nyuni 2 targeting 800 BCF to 1 TCF gas suspended due to technical problems after encountering significant gas above target z
Slide 20: Tanzania – BUY 5%
Tanzania – BUY 5% • Kiliwani North Contingent Resources 40 Bcf gas 3.5 km. For personal use only from Songo Songo Gas Plant • New PSA over increased area • Nyuni 2 drilled June to October 2011 did not reach Bewara East Okuza Bewara West target Formation and both main bore and sidetrack Nyuni 1 and 2
Slide 21: Deepwater Tanzania – Bounty Well Placed
Deepwater Tanzania – Bounty Well Placed For personal use only ta Del Zeta 1 (Drilling) fiji Ru Chewa • Recent exploration success by Anadarko (Barquentine, Pweza Windjammer, Lagosta) and the recent 20+ Tcf hit by Songo Songo Kiliwani North ENI at Mambo South offshore Mozambique, along with the BG/Op
Slide 22: PEP – BUY 15%
PEP 11 – BUY 15% For personal use only • New Seaclem 1 unfortunately did not hit gas as had been anticipated, but the major structure in the Permian remains untested • There is a proven gas system and the large structures such as South Fish offer potential for 4 Tcf of gas, very close to the Greater
Slide 23: Downlands – BUY 100%
Downlands – BUY 100% • Bounty has purchased the For personal use only remaining interests in the Downlands Gas Field which it now controls 100%, as part of its strategic production development programme in the Surat basin. • The field is currently shut in due to the pipeline being used for gas stora
Slide 24: Downlands
Downlands For personal use only • Section illustrating the tick channel fill in the productive section • Bounty intends to follow up this sequence with 3D seismic and further drilling • Available resources could be as much as 1 MMbo 24
Slide 25: Bounty Oil Ready for Growth
Bounty Oil Ready for Growth For personal use only • In 2010/2011 Bounty invested $4.84 million in exploration and development directed principally at oil focussed projects in the Cooper and Surat Basins. • In 2012 we will move to a project phase: – On Tanzania gas commercialisation – On 100% and hig
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