Bass Oil Ltd · ASX:BAS

Bass Oil — Bass Strait Oil Company — Investor Presentation (February 2012)

19 slides from Bass Oil's investor presentation, Feb 8, 2012

  1. Slide 1: Company Briefing

    For personal use only Company Briefing Steve Mackie, CEO FEBRUARY 2012 1

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation has been prepared by Bass Strait Oil Company Ltd (“BAS” or the “Company”), with the purpose of For personal use only providing general information about the Company. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the

  3. Slide 3: Corporate Information

    CORPORATE INFORMATION • ASX code: BAS For personal use only • 388,039,613 ordinary shares • 12,000,000 unlisted options exercisable at 4 cents each with expiry on 14/10/14 • Total shareholders approximately 2,262 • Top 20 shareholders hold: 34% • Top 50 shareholders hold: 51% • Albers Group: 15% • A

  4. Slide 4: Directors and Management

    DIRECTORS AND MANAGEMENT • John McInnes, OAM, BComm, FCA, CHAIRMAN For personal use only • Chartered accountant, company director and Director of Mutual Trust. He has previously been Deputy Chairman of Pacific Hydro Ltd and Chairman of Futuris Ltd. • Andrew Whittle, BSc (Hons), DIRECTOR • Former Exx

  5. Slide 5: Bass Strait Oil – Vision

    BASS STRAIT OIL – VISION • Bass Strait Oil Company Ltd (ASX code: BAS) is a specialist, For personal use only technically-driven, petroleum explorer currently focused exclusively on southeast Australia. • BAS has a two-pronged strategy: • Conventional to unconventional petroleum onshore • Convention

  6. Slide 6: Investment Highlights

    INVESTMENT HIGHLIGHTS • Large acreage holding with both onshore and offshore permits For personal use only • Permits strategically located over three productive basins • Permits located in low-cost, low risk jurisdictions with existing infrastructure • Control of destiny via Operatorship in all curr

  7. Slide 7: Balanced Portfolio of Opportunities

    BALANCED PORTFOLIO OF OPPORTUNITIES APPRAISAL EXPLORATION FRONTIER For personal use only PORTFOLIO – 40% PORTFOLIO – 40% PORTFOLIO – 20% • VIC/P47 • VIC/P41 • T/42P and T/43P • Judith • Kipling • Duroon Sub-basin • VIC/P42 • Benchley • VIC/P66 • Oscar • East Gippsland • Zane Grey • Omeo • VIC/P42 •

  8. Slide 8: Permits

    PERMITS TOTAL ACREAGE For personal use only ~14,000 sq km, in three productive basins Otway Basin • PEP167 – 50% operator • PEP150 – 15%, permit yet to be granted Gippsland Basin • VIC/P47 – 40% operator • VIC/P41 – 45% operator • VIC/P66 – 60% operator • VIC/P42 – 100% operator Bass Basin • T/42P &

  9. Slide 9: Onshore Otway Basin

    ONSHORE OTWAY BASIN PEP 167 For personal use only • currently discussing 5-year renewal within Joint Venture • focus on Casterton shale gas play and Waarre conventional gas play PEP 150 • waiting on resolution of Native Title prior to permit award – principles signed expect award mid- 2012 PEP 150 a

  10. Slide 10: Offshore Gippsland Basin

    OFFSHORE GIPPSLAND BASIN For personal use only Gippsland Basin permits 10

  11. Slide 11: VIC/P47: Fields and Prospects (Bass: 40%)

    VIC/P47: FIELDS AND PROSPECTS (BASS: 40%) • Continuing farmout interest • Patricia Baleen (Santos) is For personal use only analogue for Moby • Existing gas discoveries at Judith and Moby with • first gas in 2003 nearby infrastructure • $120 million development • 70 BCF sales gas • Judith: GCA certi

  12. Slide 12: Judith Field

    JUDITH FIELD For personal use only Judith-1 Zone of gas shows in Judith-1 Recent simultaneous seismic seismic inversion inversion demonstrates these demonstrates anomalies are these the same anomalies aregas as the Judith the same as the Judit anomalyJudith 12

  13. Slide 13: VIC/P41: Prospects and Leads (Bass: 45%)

    VIC/P41: PROSPECTS AND LEADS (BASS: 45%) • 3D-defined, high-impact prospects For personal use only with prospective resources • Kipling, analogous to Kipper field • P50: 320 BCF + 15 mmbbls • P10: 1 TCF + 50 mmbbls • Benchley, analogous to Kipper field • P50: 800 BCF + 40 mmbbls • P10: 3 TCF + 150 m

  14. Slide 14: VIC/P66: Exploration Concepts (Bass: 60%)

    VIC/P66: EXPLORATION CONCEPTS (BASS: 60%) • Underexplored For personal use only East Gippsland play • Lead A (P10 prospective resource: ~600 BCF recoverable) defined on 2D in west of permit • 3D seismic to be acquired over Lead A end 2012 / early 2013 14

  15. Slide 15: VIC/P42: Prospects and Leads (Bass: 100%)

    VIC/P42: PROSPECTS AND LEADS (BASS: 100%) • Zane Grey and Omeo For personal use only discoveries • Renewal area fully covered by 3D seismic • Seismic data sets to be reprocessed with simultaneous seismic inversion Q3/4 2012 15

  16. Slide 16: Offshore Bass Basin

    OFFSHORE BASS BASIN For personal use only 16

  17. Slide 17: T/42P & T/43P: Prospects and Leads (Bass: 100%)

    T/42P & T/43P: PROSPECTS AND LEADS (BASS: 100%) • T/42P & T/43P – total For personal use only 6,120 sq km • Under-explored Durroon Sub basin play • New 2D seismic and basin modelling show large prospects plus hydrocarbon ‘kitchens’ • Favourably located - infra structure and growth markets, in water

  18. Slide 18: Short Term Forward Program

    SHORT TERM FORWARD PROGRAM For personal use only 1Q 2012 2Q 2012 3Q 2012 4Q 2012 OTWAY BASIN PEP 167 Renew Permit PEP 150 Permit Award GIPPSLAND BASIN Vic/P41 Prepare to acquire 3D Vic/P42 Seismic Reprocessing Vic/P47 Gas Marketing Study Vic/P66 Prepare to acquire 3D BASS BASIN T/42P Renew Permit T/

  19. Slide 19: Summary

    SUMMARY • Balanced permit position: excellent leverage to high impact For personal use only discovery potential • Coherent focused portfolio across three productive basins • Offshore drilling and seismic operations since 2000 • New round of industry activity in the region • Access to eastern Castert

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