Blue Energy Limited · ASX:BLU
Blue Energy — Shareholder Meeting (November 2022)
20 slides from Blue Energy's shareholder meeting presentation, Nov 15, 2022
Slide 1: 2022 Annual General Meeting
For personal use only 2022 ANNUAL GENERAL MEETING 15 November 2022
Slide 2: Disclaimer
For personal use only LEGALS Disclaimer Not an offer or invitation This presentation is not a prospectus, disclosure document or other offering document under Australian law or under any other law. Restrictions This presentation has been prepared for publication in Australia and may not be released
Slide 3: Corporate Overview
CORPORATE OVERVIEW Metrics Share Price For personal use only Cash (30/09/22) $19.7 million Debt Nil Shares on Issue 1,850,795,534 Market Cap (14/11/22) ~$101 million Board Reserves and Resources Executive Chairman: John Ellice-Flint 1P/1C 2P/2C 3P/3C Managing Director: John Phillips Reserves (PJ) 0
Slide 4: Key New Gas Supply Basins
For personal use only 3 KEY NEW GAS SUPPLY BASINS Bowen Basin Beetaloo Basin Galilee Basin 4
Slide 5: Corporate Reserves and Resources
For personal use only CORPORATE RESERVES AND RESOURCES 1P Permit Block Date Method Certifier 1C (PJ) 2P (PJ) 2C (PJ) 3P (PJ) 3C (PJ) (PJ) ATP854P Whole Permit 22/01/2022 SPE/PRMS NSAI 0 90 0 194 0 398 ATP813P Whole Permit 29/10/2014 SPE/PRMS NSAI 0 0 0 61 0 830 ATP814P Sapphire 14/07/2022 SPE/PRMS N
Slide 6: North Bowen Gas – Long Term, Reliable Supply
For personal use only NORTH BOWEN GAS – LONG TERM, RELIABLE SUPPLY PL 1045 gas to Townsville • North Bowen has ~15,000 PJ gas resource – NSAI • 30 years of east coast domestic gas demand • Blue has ~3,000 PJ of the gas resource – NSAI • 8 years of east coast domestic gas demand • Federal and State G
Slide 7: Blue is actively appraising the North Bowen
For personal use only Blue is actively appraising the North Bowen 7
Slide 8: Sapphire Well Location & Topography
SAPPHIRE WELL LOCATION & TOPOGRAPHY (LOOKING SOUTH TOWARD ISAAC PLAINS MINE) For personal use only Lateral surface locations Vertical well locations 8
Slide 9: Pilot Design and Well Locations
For personal use only PILOT DESIGN AND WELL LOCATIONS The Pilot configuration is a modified chevron intercept design • Approx 75m separation between the two vertical wells. • Two sets of lateral wells intercepting two vertical wells. • Gas will be produced out of the laterals, with water out of the
Slide 10: Seismic Control for Laterals
SEISMIC CONTROL FOR LATERALS LATERAL WELLS VERTIC AL WELLS For personal use only
Slide 11: Blue's Sapphire Pilot Drilling
For personal use only BLUE’S SAPPHIRE PILOT DRILLING Sapphire 5 and 6 pilots will target the Permian Coal measures: • Rangal Coal Measures • Fort Cooper Coal Measures • Moranbah Coal Measures Sapphire Block Pilot wells located on seismic line BE08-05 close Moranbah Gas Project to the intersection wi
Slide 12: 2022 Highlights
2022 HIGHLIGHTS Primary Focus: technical drilling program to firm up the North Bowen Basin asset– ATP 814P (100% Blue) For personal use only • Drill multiple Pilot wells in Sapphire • Production test the Pilot wells • Establish flow rates • Build reserve base to underpin Origin, Energy Australia and
Slide 13: Sapphire Pilot Pre-Drill Target Seams
For personal use only SAPPHIRE PILOT PRE-DRILL TARGET SEAMS Pre-drill Targets: L4 - Lower Rangal (Vermont Seams) • Depth - 320m • 21m thick Rangal (~5m net) • Gas Con (~2.1-9.2m3/t DAF) Yarabee Tuff L3 - Fort Cooper (Middle Main Seam) • Depth - 540m Fort Cooper (~5m net) • 11m thick • Gas Con (~4.2-
Slide 14: Geo-Steering the Laterals
GEO-STEERING THE LATERALS Sapphire 5 L1 geo-steered well path to intercept point with Sapphire 5V For personal use only Lateral wells drilled by Sperry using real time gamma imaging tool to hit a 7” target 1.4 kilometres away. 14
Slide 15: Developing the North Bowen Basin
Developing the North Bowen Basin For personal use only • 500 PJ of new Blue gas supply agreements Energy Australia, Origin Energy and QPM – will underpin new nation building gas pipeline infrastructure • Blue’s gas supports a 20” open access pipeline but capable of taking the full Bowen Basin volume
Slide 16: ATP – Near Existing Gas Infrastructure
ATP 854 – NEAR EXISTING GAS INFRASTRUCTURE For personal use only 16
Slide 17: ATP 854 - 100% Blue – Another Gas Option for Blue
ATP 854 - 100% BLUE – ANOTHER GAS OPTION FOR BLUE For personal use only NSAI Gas Resource upgrade • January 2022 - 300% upgrade in Contingent Resource by NSAI ✓ Resource upgrade will allow acceleration of resource appraisal • ATP854 now becomes a material gas resource – 398 PJ Contingent Resource ✓
Slide 18: ATP – Possible Well Location & Design Concept
For personal use only ATP 854 –POSSIBLE WELL LOCATION & DESIGN CONCEPT PERMIAN COAL TARGET 18
Slide 19: Blue's Monetisation Path
BLUE’S MONETISATION PATH For personal use only Gas offtake agreements for Bowen Basin will underpin the southern pipeline route construction Blue’s current gas supply agreements • Origin Energy and Blue ✓ Heads of Agreements for 300 PJ of gas over 10 years at Wallumbilla • Energy Australia and Blue
Slide 20: For personal use only
For personal use only