Vintage Energy Ltd. · ASX:VEN
Vintage Energy — Shareholder Meeting (November 2020)
16 slides from Vintage Energy's shareholder meeting presentation, Nov 17, 2020
Slide 1: Annual General Meeting 2020
17 NOVEMBER 2020 Annual General Meeting 2020
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Vintage Energy Limited (“Vintage” or the “Company”), with the purpose of providing general information about the Company. This presentation contains certain statements which may constitute “forward-looking statements”. Such statements are only predic
Slide 3: Reg Nelson – Chairman
Reg Nelson – Chairman Welcome, quorum and opening of meeting
Slide 4: Delivering success
Delivering success Vintage has delivered success in a short timeframe in a mature industry QUALITY AND PROVEN TEAM HIGHLY PROSPECIVE PERMITS Technical team with a proven Geographically located in key track record of exploration prospective petroleum onshore success in the Cooper Basin basins, close
Slide 5: Line of sight to cash flow within two years of listing
Line of sight to cash flow within two years of listing Delivering in a short time frame, with plenty of value adding activities in the near term FY19 FY20 FY21 BEGINNING BUILDING DELIVERING NEXT STEPS • Focus on • Entry into two new • Success with Vali-1 • Vali gas field exploration and basins ST1 a
Slide 6: Projected eastern and south-eastern gas production vs demand
Projected eastern and south-eastern gas production vs demand New gas discoveries required to ease dependence on the development of ‘undeveloped 2P Reserves’ and ‘anticipated developments’ to meet forecast demand • Federal Govt has identified gas companies and the Forecast east coast gas supply vs 20
Slide 7: Market cap vs Broker valuations
Market cap vs Broker valuations Both MST Access and Taylor Collison analysts value Vintage well above current market cap 140.0 • Both MST Access and Taylor Collison have valuation 125.1 estimates 200%-250%+ above the current market 120.0 capitalisation 112.0 • MST Access risked valuation (published
Slide 8: Neil Gibbins - Managing Director
Neil Gibbins - Managing Director Operational overview
Slide 9: Fracture stimulation of Vali-1 ST1
Fracture stimulation of Vali-1 ST1 Aerial view of Vali-1 ST1 fracture stimulation
Slide 10: Quality portfolio of permits
Quality portfolio of permits Geographically diverse and gas focused portfolio; cash flow anticipated in H1 2021 • Growing, multi-permit, • Multiple oil and gas Bonaparte footprint play types in Basin • ATP 2021: Commercial frontier region Cooper / gas field proven at Vali Eromanga • PRL 211: Odin pr
Slide 11: Building a sizeable footprint in the Cooper Basin
Building a sizeable footprint in the Cooper Basin Selective permit acquisition with familiar geology delivering success • Two farm-ins and successful gazettal • Total acreage position of 862.8 km2 ATP 2021 • Farm-in for 50% and operatorship (July 2019) • Vali prospect identified, drilled, fracture s
Slide 12: Safely completing the first operated well expeditiously
Safely completing the first operated well expeditiously Vali-1 ST1 underpins broader Cooper Basin expansion strategy 2C COMMENCE CONTINGENT DRILLING RESOURCE Spud of first Vintage Certified 2C Contingent operated well Resource of 18.9 Bcf (Net) JUL 2019 DEC 2019 JAN 2020 MAR 2020 AUG 2020 ATP 2021 F
Slide 13: Otway Basin
Otway Basin Nangwarry-1 CO2 discovery potentially capable of commercial production over 30+ years PEL 155 • Nangwarry CO2 discovery to potentially be producing in H1 20211 • Testing of the well planned for November/December 2020 • 30 to 50 years of production possible • Reliable source of food grade
Slide 14: Perth Basin – Oil potential
Perth Basin – Oil potential Adjacent to Jingemia oil field with over 4.6 MMbbl produced to date • L14 is a 39.8 km2 production licence granted over the Jingemia oilfield and surrounds • Cervantes Joint Venture1 relates to the Cervantes prospect only • Cervantes structure located in a gap between the
Slide 15: Other permits
Other permits Galilee Basin – ATPs 743, 744, 1015 (“Deeps”) • Underexplored and areally extensive permits of more than 9,000 km2 • Albany Field is a large robust anticlinal structure over 61 km2 • Targeting Lake Galilee Sandstone, with potential follow up wells • Potential for additional structures
Slide 16: Glossary
Glossary $ Australian dollars GJ Gigajoule (1 GJ is equivalent to 1x109 joules) 1C Contingent resource low estimate1 JV Joint Venture 2C Contingent resource medium estimate1 km2 square kilometres 3C Contingent resource high estimate1 km kilometre 2D Two dimensional LNG Liquefied Natural Gas 3D Three