Metgasco Ltd · ASX:MEL
Metgasco — RIU Good Oil Conference 2021
17 slides from Metgasco's conference presentation, Sep 8, 2021
Slide 1: Cooper Eromanga gas exploration success discovers a string of pearls
Cooper Eromanga gas exploration For personal use only success discovers a “string of pearls” ATP2021 – Three Vali gas discoveries PRL211 – Odin-1 gas L14 – Cervantes Oil discovery Exploration project Potential significant gas production hub emerging to assist east coast gas shortage RIU Good Oil Con
Slide 2: Metgasco Business Transformation
Metgasco Business Transformation Since 2016 company transformed by building quality exploration/appraisal For personal use only portfolio in Cooper and Perth Basin. 100% success in 4 Cooper wells building gas hub reserves/resources- anticipate production revenue in mid CY22 Value 5 CY22 -Pivot to 4
Slide 3: Agenda
Agenda 1 Metgasco Business Tranformation For personal use only ‒2 Company snapshot ‒3 Metgasco Strategy/Asset overview ‒4 Cooper/ Eromanga Basin – ATP2021 & PRL211 ‒5 Perth Basin- Cervantes – L14 ‒6 High Gas Demand in East Coast + Oil Price recovery ‒7 Indicative exploration/appraisal timeline ‒8 Fa
Slide 4: Company snapshot
Company snapshot Metgasco’s gas exploration success allows line of sight to profitable business in mid CY22 Company overview For personal use only Substantial shareholders & Board ▪ ASX listed energy exploration company (ASX code: MEL) Glennon Capital Pty Ltd 10.50% ▪ Experienced team focused on cre
Slide 5: Quality Onshore Australia Exploration Asset Portfolio
Quality Onshore Australia Exploration Asset Portfolio • East Coast Gas - Cooper/Eromanga Basin – Vali gas discovery, stimulated and tested. ERCE For personal use only certification of net 8.3PJ** gas reserves. Reserve upgrade likely following CY21 drilling. • West Coast Oil - Perth Basin - Cervantes
Slide 6: Metgasco: Strategy / Asset Overview
Metgasco: Strategy / Asset Overview Strategy - Deliver shareholder returns from current and new E&P assets/investments and be the partner of choice For personal use only Cooper/Eromanga Basin Cooper/Eromanga Basin Onshore Perth Basin ▪ Basin entry farm-in to drill QLD SA Cervantes exploration prospe
Slide 7: ATP2021- Vali Hub Reserves ….how big is the upside?
ATP2021- Vali Hub Reserves ….how big is the upside? Vali-2and Vali-3 delivered greater net gas pay than Vali-1 ST1 and are cased for future For personal use only production. Independent reserve increase anticipated in Q3 CY21 ▪ Vali-2 drilled to appraise Patchawarra gas discovery and assess potentia
Slide 8: String of Pearls-Building a sizeable gas production hub
String of Pearls-Building a sizeable gas production hub Potential nine well Vali development - field life approx 20 years - 12mmscf/day average rate For personal use only By assessing the resource upside ahead of first gas has allowed the value of the ATP2021and PRL211 assets to be optimised, with t
Slide 9: Cooper Basin PRL211- Strategic Odin Farm-in
Cooper Basin PRL211- Strategic Odin Farm-in • Odin-1 cased for production with 172.5 m of net gas pay primarily in Toolachee, Epsilon and Patchawarra formations. • Metgasco (21.25%), Vintage(operator with For personal use only 42.5%) Bridgeport(21.25%) free carry of Impress Energy(15%) for Odin-1 dr
Slide 10: Perth Basin – Cervantes Oil prospect located in oil trend
Perth Basin – Cervantes Oil prospect located in oil trend For personal use only Kingia/High Cliff • Jingemia-1 intersected a 26m water bearing good porosity sand of Kingia/High Cliff Sand(outside of structural closure) reducing the risk of sand presence in Cervantes. • Cervantes structure significan
Slide 11: Perth Basin – Cervantes – L14
Perth Basin – Cervantes – L14 Potentially one of the largest undrilled oil opportunities in the Perth Basin (Gross P50 OOIP 35mmbo), with geological similarities to nearby discoveries For personal use only A A’ Exploration Key Data Country Australia Basin Perth Basin Licence L14 Western Flank Cervan
Slide 12: High Gas demand in East Coast + Oil Price at 3yr High
High Gas demand in East Coast + Oil Price at 3yr High ➢ East Coast - New gas discoveries required to meet forecast demand For personal use only ➢ Perth Basin Oil discovery a company game changer as oil prices at 3yr high • Federal Govt has identified gas companies and the Projected eastern and south
Slide 13: 2021/2022 Indicative Key Activity Timeline
2021/2022 Indicative Key Activity Timeline Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 For personal use only Cooper Eromanga Basin Procure/Construct / Install Pipeline/flowlines to Gas Wells ATP2021-Vali Vali completion First Gas Production Drilled Drilled Reserve Upgrade stimulation, testing Va
Slide 14: Cooper Eromanga Basin ATP-2020
Cooper Eromanga Basin ATP-2020 • Farm-out process underway -interested parties contact us at booth For personal use only Loki ASX: MEL *Volumetrics are net to 100% owned licence ATP2020 – For further details see ASX:MEL Release 31 March 2021: ATP 2020 Cooper/Eromanga Prospective Resources and resour
Slide 15: Conclusions – Upcoming share price catalysts
Conclusions – Upcoming share price catalysts • Near term operational, corporate and macro news flows will provide a number of share For personal use only price catalysts Independent Reserve CY2021 well results on Vali-2 /Vali-3 and Odin-1 being reviewed by Assessment Increase independent reserve aud
Slide 16: Conclusions - Why should you invest in Metgasco?
Conclusions -Why should you invest in Metgasco? • Metgasco represents compelling value For personal use only • Since 2016, the company has pivoted to growth while also . returning nearly $20m in cash and shares to its shareholders Metgasco’s board has “walked the walk” in prioritising total sharehol
Slide 17: Disclaimer / Reserves and Resource Notes
Disclaimer / Reserves and Resource Notes ▪ This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made as to the f