Karoon Energy Ltd · ASX:KAR
Karoon Energy — Macquarie Securities Conference 2022
17 slides from Karoon Energy's conference presentation, May 4, 2022
Slide 1: Presentation for Macquarie Securities Conference 2022
4 May 2022 For personal use only Company Announcements Office ASX Limited Dear Sir / Madam Presentation for Macquarie Securities Conference 2022 Attached is a presentation to be made by the CEO and Managing Director later today. This announcement was authorised by the CEO and Managing Director. Your
Slide 2: Karoon Energy Ltd Macquarie Securities Conference 2022
For personal use only Karoon Energy Ltd Macquarie Securities Conference 2022 May 2022
Slide 3: Disclaimer / Definitions
Disclaimer / Definitions For personal use only Disclaimer This presentation has been prepared by Karoon Energy Ltd. The information contained in this presentation is for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products.
Slide 4: Overview of Karoon Energy
Overview of Karoon Energy Focus on oil in Santos Basin, Brazil Oil producer with exposure to exciting Brazilian oil industry For personal use only ▪ One of the few ASX listed companies with pure oil exposure ▪ Brazil focused, 100% owner/operator of a high-quality producing asset ew or ethlehem a let
Slide 5: Karoon interests in the Santos Basin, Brazil
Karoon interests in the Santos Basin, Brazil Production and For personal use only Development Neon Blocks Exploration SANTOS Blocks Goia BASIN Fields & Discoveries Baúna, Piracaba and Patola Prospects Clorita Itajai 50km
Slide 6: Karoon's key strategic objectives
Karoon’s key strategic objectives Deliver safe and reliable operations and sanctioned projects to create foundation for growth Delivering our transformation Baúna FPSO, Cidade de Itajaí For personal use only Key objectives • Safely execute Baúna base business • Deliver sanctioned development project
Slide 7: Continued strong operational performance
Continued strong operational performance High facilities availability and good reservoir performance For personal use only ▪ Operational uptime of nearly 100% to date in FY22, with few unplanned shutdowns. Reflects work undertaken during CY2021 to establish reliable platform ▪ Scheduled maintenance
Slide 8: Focus on delivery of sanctioned Baúna and Patola projects
Focus on delivery of sanctioned Baúna and Patola projects Targeting material production increase and opex/bbl reduction Indicative production profile (MMbbl)* Indicative unit operating cost outlook (US$/bbl)* For personal use only 8 - 10 28 - 30 25 12 - 18 4.4 – 4.6 3.14 FY21A FY22 FY23 FY21A FY22 F
Slide 9: Optimising Neon development concept
Optimising Neon development concept Control well/s scheduled to be drilled in early CY2023 Field Contingent Resources1 For personal use only Neon • Recent technical and engineering studies 1C 2C 3C on subsurface and development concepts (MMbbl) (MMbbl) (MMbbl) indicate potential for commercial Goiá
Slide 10: Non-binding bid submitted for 50% of Atlanta
Non-binding bid submitted for 50% of Atlanta Disciplined process to identify and pursue value-accretive growth opportunities For personal use only ▪ Have submitted confidential, conditional, non‐binding and incomplete offer to Enauta Energia S.A. and signed Exclusivity Agreement to undertake due dil
Slide 11: Strong bidding in recent licence rounds in Karoon's heartland
For personal use only Strong bidding in recent licence rounds in Karoon’s heartland Goia Neon SANTOS BASIN Bauna, Piracaba and Patola SM-1599 SM-1601 Shell (70%) op Shell (70%) op Clorita Ecopetrol (30%) Ecopetrol (30%) Bid – 9.2M USD Bid – 7.8M USD SM-1713 Shell (70%) op SM-1711 Ecopetrol (30%) Tot
Slide 12: 3Q FY2022 results benefit from strong oil prices
3Q FY2022 results benefit from strong oil prices Robust balance sheet ▪ Production YTD of 3.6 MMbbl For personal use only 1H22 3Q22 2022 YTD Production (MMbbl) 2.5 1.1 3.6 ▪ Seven cargoes sold, realising average price of US$78.74/bbl. Sales Volume (MMbbl) 2.6 1.0 3.6 March cargo realised ~US$55 mill
Slide 13: Priority uses of capital
Priority uses of capital For personal use only Deliver safe and reliable operations ▪ Deliver production from ongoing operations ▪ Investment in long term maintenance to maximise life of facilities Build and maintain strong, flexible ▪ Meet debt obligations and covenants Order of Priority balance sh
Slide 14: FY2022 guidance
FY2022 guidance1 High end of unit opex reduced, business development includes Atlanta due diligence ▪ Baúna production in 4Q FY22 will be impacted by For personal use only Low High commencement of intervention program Production (MMbbl) 4.4 4.6 ▪ Production costs largely fixed, expected to result in
Slide 15: Carbon Management Action Plan to achieve emissions targets
Carbon Management Action Plan to achieve emissions targets Targeting carbon neutral for Baúna/Patola from FY2021, Net Zero by 20351 For personal use only Priority 1 Priority 2 Priority 3 Avoid and Reduce Assess direct Purchase additional offsets if needed First priority is to avoid or reduce and ind
Slide 16: Summary: Karoon well positioned to deliver shareholder value
Summary: Karoon well positioned to deliver shareholder value Safe, reliable oil producer with clear sustainable growth path For personal use only • Pure oil producer, benefiting from current strength in oil prices • Building reputation as safe and reliable operator • Successfully reduced decline cur
Slide 17: For personal use only
For personal use only