Beach Energy Limited · ASX:BPT
Beach Energy — ABN AMRO Morgans Institutional Investor (September 2009)
21 slides from Beach Energy's conference presentation, Sep 22, 2009
Slide 1: ABN AMRO Morgans Institutional Investor
For personal use only ‘ } ABN AMR@ Morgans Institutional Investor Hector Gordon Chief Executive Officer September 2009 vy) re)
Slide 2: Disclaimer
Disclaimer For personal use only This presentation contains forward looking statements that are subject to risk factors associated with oil, gas, geothermal and related businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety
Slide 3: Company Overview – Key Facts
Company Overview – Key Facts For personal use only Track record of delivery Solid base from which to grow • ASX200 E&P company • 2P reserves of 66 MMboe • A top ranked ASX200 E&P • Contingent resource base of company based on oil and gas 293 MMboe production • Substantial and diverse • Proven manage
Slide 4: Company Strategy
Company Strategy For personal use only • Consistent, targeted growth: – Long-term cash flow, production and reserves – Value driven investments • Thinking ahead of the pack: – Early entry, low risk, high return – Participation in emerging technologies and opportunities • Balanced exploration program
Slide 5: Reserves & Resources
Reserves & Resources For personal use only 2P Reserves: 2P Reserves & Contingent 66 MMboe Resources: 359 MMboe Cooper / Eromanga Gippsland Egypt Gas Gas Liquids Oil 2P Reserves A solid and enviable base from which to grow 5
Slide 6: Recent Highlights
Recent Highlights For personal use only • 2009 record NPAT $260 million and production of 9.6 MMboe • Continued exploration success in Cooper Basin, especially Western Flank: – Eg: Butlers, Perlubie, Perlubie South and Chiton discoveries • Burnside -1 discovery in Browse Basin announced August 2009:
Slide 7: Cooper Basin – Top Shelf Acreage Position
Cooper Basin – Top Shelf Acreage Position For personal use only • Solid oil and gas production • Ongoing exploration success • Substantial long-term growth potential • An emerging ‘unconventional’ gas play 7
Slide 8: Cooper Basin – Nappamerri Trough: PEL 218
Cooper Basin – Nappamerri Trough: PEL 218 For personal use only • Long term potential • PEL 218 Farm-in: – Beach has acquired a 90% interest from Adelaide Energy – Beach has been issued 8 million shares in Adelaide Energy at $0.12 / share – Beach to become the operator • Highly prospective acreage •
Slide 9: Cooper Basin Gas – Future Gas Business
Cooper Basin Gas – Future Gas Business For personal use only • Three main sources in addition to further conventional gas in the areas adjacent to Moomba: – Shale gas – Tight gas – Deep coal gas • An indication of the future: – Shale gas in North America has followed the lead of coal seam gas – ‘Unc
Slide 10: Exploration Strategy
Exploration Strategy For personal use only • Objective is a balanced portfolio: – 60% low risk : 30% moderate risk : 10% high risk – Timeframe and cost for maturation – Equity participation • Low to moderate risk candidates are generally in the vicinity of proven production: – Eg: Cooper Basin & Egy
Slide 11: Global Portfolio
Global Portfolio For personal use only 1 Spain 2 Albania 3 Egypt 1 2 4 Tanzania Carnarvon & 3 5 Browse Basins 6 Arrowie Basin 7 Cooper Eromanga Basin 4 8 Otway & Bass Basins 10 5 9 Gippsland Basin 6 7 10 Papua New Guinea 9 8 11 11 New Zealand 11
Slide 12: Exploration Opportunities
Exploration Opportunities For personal use only Drill-Ready / Near-Drill-Ready Prospects: • Approx. 100 MMboe August 2009 of drill-ready and 60 near-drill-ready Mean un-risked volumes MMboe (Beach share) prospects available 50 in the next few years 40 • Figure excludes: 30 – Leads and immature oppor
Slide 13: International Ventures – Strategy & Objectives
International Ventures – Strategy & Objectives For personal use only • Deliver new core production areas to Beach’s portfolio within a reasonable timeframe • Balance of mature to emerging hydrocarbon provinces: – Focus on regions linked by geology or markets • Portfolio to consist of opportunities w
Slide 14: Egypt: Gulf of Suez – Investment Rationale
Egypt: Gulf of Suez – Investment Rationale For personal use only • A very ‘oily’ (and gas prone) region with new emerging plays and exploration upside • Reasonable fiscal regime • High deal flow and multiple entry opportunities: – 3 license rounds per year – Farm-ins, assets sales • Extensive infras
Slide 15: Egypt: Gulf of Suez – Long & Short Term Potential
Egypt: Gulf of Suez – Long & Short Term Potential For personal use only • Beach 20% • Experienced operators in BP and Dana Petroleum • Three existing oil discoveries • Highly prospective region • Ongoing assessment of other opportunities 15
Slide 16: Egypt: Gulf of Suez – North Shadwan Concession
Egypt: Gulf of Suez – North Shadwan Concession For personal use only • 2P reserves 2.2 MMbbl (Beach share) • Three existing oil discoveries: – NS 394 (‘Burtocal’) – NS 377 and 385 (‘Nearshore fields’) • First oil expected early CY10 • Expected initial production rates of approx. 5,000 bopd (gross) 1
Slide 17: Egypt: Gulf of Suez – North Shadwan Concession
Egypt: Gulf of Suez – North Shadwan Concession For personal use only • Burtocal field: – Discovered 2007 – Potential recoverable oil approx. 5 MMbbl (Beach share) • Further appraisal required before commerciality can be declared: – Well to be drilled before end CY2009 17
Slide 18: Tanzania: Lake Tanganyika – Long Term Potential
Tanzania: Lake Tanganyika – Long Term Potential For personal use only • Beach 100%* • Finalisation of Petroleum Sharing Agreement (PSA) in FY10 • Under-explored, emerging hydrocarbon province with high potential • Significant industry success in nearby analogous area (Uganda) • Potential for large (
Slide 19: FY10 Outlook
FY10 Outlook For personal use only • Production guidance of approx. 9.0 MMboe • First oil from Egyptian ‘Nearshore fields’ in North Shadwan block • Key wells: – Egypt : Teen-1 exploration well and Burtocal appraisal well • A few other things for investors to watch: – PRL-1 appraisal planning in PNG
Slide 20: What Could The Future Hold?
What Could The Future Hold? For personal use only • Base business – developing existing reserves • Convert contingent resources to reserves • Ongoing (and material) exploration success • Acquisitions and divestments • New energy business opportunities Production Time Beach’s existing portfolio has t
Slide 21: For personal use only
For personal use only 21
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