Metgasco Ltd · ASX:MEL
Metgasco — Investor Presentation (November 2021)
13 slides from Metgasco's investor presentation, Nov 24, 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 Metgasco Webinar
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: 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 4: ATP2021 - Vali Field Reserves Significantly Upgraded
ATP2021- Vali Field Reserves Significantly Upgraded Three-Fold upgrade of Vali Field Gross 2P Gas Reserves to net 25.2 PJ For personal use only • ERCE completed an independent evaluation of the Vali field reserves which included the results of the Vali- 2 and Vali-3 wells • Independently evaluated G
Slide 5: String of Pearls - Building a sizeable gas production hub
String of Pearls-Building a sizeable gas production hub Vali development 9 wells(including 4 recompletions Toolachee to Patchawarra)- field life approx 30-40 years – 10-15MMscf/day raw gas rate For personal use only By assessing the resource upside ahead of first gas has allowed the value of the ATP
Slide 6: ATP2021 - Vali Field Gas Sales and Processing
ATP2021- Vali Field Gas Sales and Processing Gas Sales For personal use only • The ATP2021 Joint Venture is currently in discussions with 3rd party gas buyers, with a target of signing a Gas Sales Agreement (GSA) by end CY21 • As part of the GSA an upfront prepayment for a portion of the gas sales i
Slide 7: PRL211 Odin Gas Resources Significantly Upgraded
PRL211 Odin Gas Resources Significantly Upgraded • Independently certified Gross 2C Contingent Resources of 36.4 Bscf (8 Bscf net Metgasco) vs pre-drill estimates of 12.6 Bscf (2.8 net) For personal use only • Metgasco(21.25%),Vintage(operator with 42.5%) Bridgeport(21.25%) & Impress Energy(15%) • O
Slide 8: PRL211 Odin-1 Well Test Results
PRL211 Odin-1 Well Test Results • Gas Flow Rate of 6.5 MMscfd at FWHP of 1823 psi on 28/64” choke For personal use only • A production log confirmed that all perforated zones were contributing gas • A total of 26.6 metres over five intervals in the Toolachee Formation were perforated, along with 7.5
Slide 9: 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 10: Perth Basin - Cervantes - L14
Perth Basin – Cervantes – L14 Potentially one of the largest undrilled oil opportunities in the Perth Basin (Gross P50 OOIP 35mmbls), with geological similarities to nearby discoveries For personal use only A A’ Exploration Key Data Country Australia Basin Perth Basin Licence L14 Western Flank Cerva
Slide 11: 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 Continue negotiations with gas customers targeting a GSA by end Vali Gas Sale Agreement of CY21, including the potential for upfro
Slide 12: 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 13: 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