Otto Energy Limited · ASX:OEL
Otto Energy — Shareholder Meeting (May 2007)
30 slides from Otto Energy's shareholder meeting presentation, May 8, 2007
Slide 1: Results of General Meeting
7 May 2007 Manager of Company Announcements Australian Stock Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 By E-Lodgement Results of General Meeting In accordance with Listing Rule 3.13.2, it is confirmed that the following resalutions put to fhe General Meeting of Otto Energy Limited h
Slide 2: Annexure 1: Disclosure of Proxy Votes
ANNEXURE 1 OTTO ENERGY LIMITED GENERAL MEETING - 7 May 2007 Disclosure of Proxy Votes In accordance with section 251AA of the Corporations Act 2001, the following information is provided to ASX Limited in relation to resolutions passed by members of Otto Energy Limited at its General Meeting held on
Slide 3: Corporate & Project Update
ion © ad = ® 7) a * O.. =) ® & 2] = & ke © < lp) CORPORATE & PROJECT UPDATE
Slide 4: Disclaimer
DISCLAIMER This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy oor It is not to be distributed to third parties without the consent of Otto Energy Ltd. (the “Company’). This presentation contains forward-looking statements that are not based
Slide 5: Introduction
Introduction ® Otto listed in Dec 2004 and has acquired a strong, balanced portfolio of assets in Turkey, Philippines & Argentina. @ The management team has been strengthened to oversee the activities for the year with CEO, CFO, and COO all recruited in the last few months. # The share register is t
Slide 6: Corporate
CORPORATE BOARD Rick Crabb - Chairman (non Exec) Jaap Poll - Executive Director lan Macliver ~ Director (non Exec) Rufino Bomasang — Director (non Exec) EXECUTIVES Alex Parks ~ CEO Craig Martin -COO Bruce Etsholz - CFO Emma McCormack — Company Secretary ASX listing Dec 04 (Code: OEL) Website www.ott
Slide 7: Summary
SUMMARY Otto has built a balanced E&P portfolio in proven oil & gas basins 35% Win highty prospective area. Two well gas discoveries, over A$10m contributed by Incremental in carry & cash farm out deais. Further seismic and exploration drilling in 2007 aiming for gas production in late 2007 $C50 - a
Slide 8: Capital Structure
CAPITAL STRUCTURE Shares Options Performance Shares (gas prod. in Turkey) Issued 172,903,994* 2,000,000** 2,500,000 Market Cap $52m @29cps Cash (15 Aprilo7) $8m Note: + $7.3 from Turkey farm out deal 2M shares on re-entry of Calauit and 10 M shares + 20 M options (30c, 31/12/07) on Calauit producing
Slide 9: Structure
STRUCTURE a ee i LE Te Le 20-35% ERY
Slide 10: 2007 Objectives
2007 Objectives « Turkey : ~ Test commercial gas in Edirne — generate cash flow, farm out for carry / cash to cover program | ~ Farm out Catalca and/or Ortakoy @W # Argentina - Acquire licence and drill Santa Rosa billion bbl target onshore Argentina for < US$ 1 million/well ~ Secure follow up proje
Slide 11: Turkey Project Overview
Turkey PROJECT OVERVIE'\ SEA OF MARMARA AEGEAN SEA Satellite Photo — Western Turkey & Thrace Basin
Slide 12: Turkey Summary
Turkey Summary Thrace Basin of Turkey ~ top tier gas price ~ US$ 8.00 ~ 10.00 / mcf ~ Shallow, low risk, & low cost exploration ~ 5% government royalty, 20% corporate tax rate Otto has 3 discoveries, development planning in progress and aims to achieve cash-flow from gas production by end 2007/early
Slide 13: Thrace Basin - Edirne Licence
Turkey THRACE BASIN - EDIRNE LICENCE Bati Umur-1 gasdiscovery - |, 1980’s Umur« . targeting de€per play. _ PROGRAM _ Prospect /Area with sparse existing 2D 3D seismic in mid 2007 2D Seismic in mid 2007 Drill Yagci-1 end 2007 Test Umur-1 End 2007 Drill 3D defined prospects early 2008 ERY
Slide 14: Commercialization of Edirne Discoveries
va Commercialization of Edirne Discoveries * 100% Otto Share at 35% Reserves Bati Umur & Koyustu 2 bef 0.7 bef Prospective Resources “Law risk” Exploration Targets to be drilled in 2007 2 bef + 0.7 bef + Estimated Development Cost US$ 5 Million US$ 2.2 million with carry of Turkish partners (recover
Slide 15: The Philippines Project Overview
THE PHILIPPINES PROJECT OVERVIE a = a oo | Lee » : of /) . y y D Q , 7 | 0 scot! ae — j A y . eUL0 Gea 7 | _ y a Gy NorAsian — Otto Licence Map of Philippines ees ee
Slide 16: The Philippines Summary
THE PHILIPPINES SUMMARY Why offshore Philippines ? proven hydrocarbon provinces with nearby energy markets a well respected management team in Manila low sovereign risk to oil industry renewed interest by foreign companies (new applications and farmins) Otto now has operational control over 3.75 mil
Slide 17: SC50 - Calauit Oil Field
THE PHILIPPINES 9C50 - CALAUIT OIL FIELD Dy pane Calauit SC50, Showing Regional Oil & Gas Fairway Planned 2007 3D seismic to delineate Calauit and optimise drilling Green Area = Calauit & Calauit South Pink Area = Possible field extent Blue Dotted = Further small leads ERY
Slide 18: SC50 - Calauit Oil Field
THE PHILIPPINES $C50 - CALAUIT OIL FIELD # Calauit STOIIP ~ 40 million bbis @ Reserves ~ 6.6 million bbis : eee 7 RPS Field Layout. # Otto working interest = 65% (Otto paying 35% of first US$20 million, Farminee Vital paying 65%) @ EPT due to commence Q3 2008 fo . At an initial rate of ~12,000 bopd
Slide 19: Otto's MPSS Charter
THE PHILIPPINES Otto’s MPSS 3 Year Charter MPSS Vessel under construction to Otto’s specifications in Yantai-Raffles Shipyard, China. Otto has 3 year bareboat lease and spec’s of 15,000 bopd to 45,000 bipd & anchor capability in 300m water. Fixed day rate of US$130,000 declining with Calauit product
Slide 20: SC51 East Visayan Basin
THE PHILIPPINES to Commercialise East Visayan Basin SC51 - Licence Location Map Vigavaa Gaesain ooo [PROSPECT COMPOSITE SEIGINC SECTION through Wilsbs Gas Discovery 8 adjacen rele SC51, Leyte Block — E-W Seismic Section of Offshore Villaba Gas Discovery & Adjacent Reef Prospects ERY
Slide 21: SC51 Southern Block Argao Prospect
THE PHILIPPINES 9C51 Southern Block with 100 | ARGAQ PROSPECT i oe "| Potentially 37 Potentially 30 fis Mlbtys to 270 mmbbis ‘ Recoverable Recoverable a : = z 2 SEISMIC SECTION SC 51 $C51, Cebu Block E-W Seismic Section showing Argao & Cabilao Prospects - Prospect Map with hydrocarbon indicators (“a
Slide 22: Argao well proposal
THE PRILIPPINE Argao well proposal complete Drilling planning under way for drilling in 2008 Otto working interest = 70% Farm in partner being sought to allow acceleration of drilling Planned 2007 3D seismic to mature main prospects & leads
Slide 23: SC55 Giant Discovery Potential
THE PHILIPPINES SC55 Giant Discovery Potential e 178 BOUTH CHINA fea = pemeegiie » D RIZAL LEADS | SULU SEA rospect all Gos & corlersale ee ae condesal Seen Te i $C55, Ultra Deep Water Blocks multiple play-types & leads identified - additional 2D planned for mid 2007 Giant Marantao Reef Prospect (5
Slide 24: SC55 Ultra Deep Water License
if Severity tee | [Mraniao Prospect SC.55 Ultra Deep Water License Murphy's itt: Deep Wolter “Discoveries [Offshore Malaysia Shell/Conoco. - Phillips di SC 55 lies in the s giant Malampaya, oil discoveries made by Murphy and Shell / Conoco to the south. Oil Seeps, Gas Chimneys and Bright Spots in $C
Slide 25: SC51 and SC55 Potential
THE PHILIPPINES $C51 and SC55 —- POTENTIAL Operator TransAsia’s Prospective Resources mmbo resource estimates (Otto share 70% SC 51 & 75% SC55) Low Mean High Sc 51 Argao Prospect 123 (86.1mmbo) 270 Bahay Lead 25 (17.5 mmbo) 50 Cabilao lead 84 (58.8 mmbo) Total SC 51 232 (162.4 mmbo) SC 55 Marantao P
Slide 26: Argentina Project Overview
ARGENTINA PROJECT OVERVIEW : PRODUCING O/L. BASINS OF ARGENTINA Ges OTTO acquires 32.48% in 1 billion barrel STOMP potential Santa Rosa dome gyy Tre ERY
Slide 27: Argentina Summary
Argentina SUMMARY Why Cuyana Basin onshore Argentina ? proven hydrocarbon province — (1.2 billion bbls produced since 1930) East Basin, was neglected and never expiored. an excellent deal for those who could be patient (5 year application period) ability to drill a huge, billion bbls in place target
Slide 28: Argentina Oil Fields
ARGENTINA “Ol. FIELDS ‘1 bilion boo: produced L : a non 200 rnillion b.o. potentiat Sania Rosa Dome + ;000m E-W profile showing oil fields in western part of basin, source beds in basin center and likely migration paths eastwards towards the Santa Rosa dome ERY
Slide 29: 2007 Objectives
2007 Objectives « Turkey : ~ Test commercial gas in Edirne — generate cash flow, farm out for carry / cash to cover program | ~ Farm out Catalca and/or Ortakoy @W # Argentina - Acquire licence and drill Santa Rosa billion bbl target onshore Argentina for < US$ 1 million/well ~ Secure follow up proje
Slide 30: 2007 & 2008 Activity Summary
2007 & 2008 Activity Summary Otto Energy Activity Schedule 2007 Expioration 2D / 3D Seismic Edirne Licence Activities +20 Catalca & Ortakoy Drill 1-5 welis More Seismic / Drilling Development zee Feasibility Study Procurement & Construction Tie-In New Discoveries Activities Production Activities Dri