Slide 1: Company Presentation
For personal use only Company Presentation Heading Subheading ASX : GAS
Slide 2: General Disclaimer
General Disclaimer For personal use only This document has been prepared by State Gas Limited (“the Company” or “State Gas”) to provide prospective investors in State Gas Limited with an update on the Company and its operations. This document is based on information and material collated, prepared b
Slide 3: GAS: Highlights
GAS: Highlights For personal use only ADVANCED Granted Petroleum Lease (PL 231), with Pipeline Survey Licence PROJECT Application (PSL 2028) SHALLOW CONVENTIONAL conventional gas in Central Queensland, first discovered in the 1950s GAS PROJECT GAS FLOWS 15 historical wells drilled since 1950s SHALLO
Slide 4: Discovered in 1955
Discovered in 1955 For personal use only Gas discovered in 1955 at a depth of 137 meters when drilling for oil, flowing gas at 0.55 mmcf/d – AOE-1 well 4
Slide 5: Last Drilled in 2006
Last Drilled in 2006 For personal use only View video of gas flowing at Primero-1 in June 2017 and other infrastructure at PL 231: https://www.youtube.com/watch?v=G 9BtoU#action=share Primero-1 Well, drilled in 2006, with a flow rate of 2.8 mmcfd reported from this well 5
Slide 6: Eastern Gas Market Update
Eastern Gas Market Update For personal use only East coast gas market dynamics are going through a fundamental shift •The market is resigning itself to the fact that recent actions to restrict LNG exports and divert gas into the domestic market will not have a significant impact on bringing down eas
Slide 7: Cattle Creek Project Overview
Cattle Creek For personal use only Project Overview • Conventional gas 50km South West of Rolleston • 181sq km covering a classic north-south dome structure • 50km from Queensland Gas Pipeline network • Low drilling and extraction costs (shallow conventional gas) 7
Slide 8: Infrastructure
Infrastructure For personal use only • Queensland Gas Pipeline network • Pipeline Survey Licence Application (PSL 2028) lodged in August 2017 • Gas processing at Rolleston and Arcadia Pipeline Survey Licence area 8
Slide 9: Primary and Secondary Targets
Primary and Secondary For personal use only Targets • Primary focus (current): Cattle Creek Formation • Shallow target from 135m in the sandstone Cattle Creek Formation • Low drilling and production costs – shallow conventional gas • Independent Expert view (refer IPO Prospectus, September 2017): “P
Slide 10: Work Program
Work Program For personal use only • Preliminary work (2017 – early 2018) • Flow testing historical wells, reprocessing existing seismic data • Discussions with potential customers and majors needing additional gas • Two new step-out wells (early 2018) • Drilling and testing of two step-out wells fr
Slide 11: Board and Management
Board and Management For personal use only Tony Bellas Chairman •Chairman of ERM Power, NOVONIX Limited, Corporate Travel Management, Shine, former CEO of Ergon Energy and CS Energy) Ian Paton Non-executive Technical Director •Petroleum geophysicist and engineer, instrumental in many oil and gas dis
Slide 12: GAS: Capital Structure
GAS: Capital Structure For personal use only Shareholder Escrow Restriction^ On Admission (m shares) Triangle Energy Escrow to October 2019 47.8 35.5% Directors# Escrow to October 2019 31.1 23.1% Other seed investors Escrow to June 2018 29.7 22.0% IPO investors Nil 26.2 19.4% TOTAL 100% 134.8 100% #
Slide 13: Contacts
Contacts For personal use only “We see gas prices in the $8-10/GJ (ex-field) range for the foreseeable future.” UBS, 19 October 2017, “The next wave of east coast gas supply” Greg Baynton Tony Bellas Executive Director Chairman State Gas Limited State Gas Limited GPO Box 525 GPO Box 525 Brisbane QLD