Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Investor Presentation (December 2010)
30 slides from Karoon Energy's investor presentation, December 2010
Slide 1: Karoon Review December 2010
KAROON REVIEW December 2010 Z et ex 4 a re yee : : ' iii ; os | \ " = oe isd ie = = re ae ae : _ Gas Australia Ltd
Slide 2: Karoon Gas snapshot
2 KAROON REVIEW DECEMBER 2010 Karoon Gas snapshot n Approximately 217 million shares and 8.4 million options n Poseidon-1 gas discovery Contingent Resource estimate (P90- n Market capitalisation approximately A$1.65 billion @A$7.70 3TCF, P50-7TCF, P10-15TCF) n Cash in bank @30th June A$320 million w
Slide 3: Karoon Gas Australia's key personnel
3 KAROON REVIEW DECEMBER 2010 Karoon Gas Australia’s key personnel BOARD TECHNICAL ROBERT HOSKING Executive Chairman LINO BARRO Engineering Manager Founding Director and shareholder of Karoon Gas with 30 years of 28 years’ experience in reservoir and development commercial experience. Involved in th
Slide 4: South American personnel
4 KAROON REVIEW DECEMBER 2010 South American personnel EDWARD MUNKS Director of KEI and COO of KGA TIMOTHY HOSKING General Manager for South America Over 28 years experience working for Brambles, Nexus Energy, Over 10 years experience. Instrumental in the acquisition and Anzoil, Arrow Group, Barrick
Slide 5: Australian Assets
5 KAROON REVIEW DECEMBER 2010 Australian Assets TIMOR Karoon Permit AC/P8 BAYU-UNDAN DARWIN Karoon Permit WA-314-P AUSTRALIA Karoon Permit WA-315-P ConocoPhillips LNG Plant Kronos-1 Poseidon-1 gas discovery appraisal Poseidon-2 appraisal well well ICHTHYS NORTHERN T E R R I TO RY TOROSA Karoon Permi
Slide 6: Browse Basin
6 KAROON REVIEW DECEMBER 2010 Browse Basin WA-314-P Argus Gas/condensate Karoon 90% ConocoPhillips 10% field 2tcf ? (Karoon estimate) Abalone 1 WA-315-P and WA-398-P Emily Rose Karoon 40% ConocoPhillips 60% Phrixus 1 WA-314-P ARGUS Elvie Grace Nora Jessie Buffon-1 Kontiki-1 Poseidon field Sarah Gret
Slide 7: Browse Basin – Poseidon Field
7 KAROON REVIEW DECEMBER 2010 Browse Basin – Poseidon Field Poseidon-1 Kronos-1 Future Plans n Well data from the three wells drilled on the greater Poseidon structure will be analysed over the coming months, together with the new Poseidon 3D seismic data which is currently being processed. n Furthe
Slide 8: Browse Basin – Indicative Time line
8 KAROON REVIEW DECEMBER 2010 Browse Basin – Indicative Time line Karoon activity 2009 2010 2011 2012 2013 Indicative time line (@Nov 2010) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Past Future BROWSE BASIN (Aust) Drilling (firm) Poseidon-1 (gas discovery) Kontiki -1 (Dry) Poseidon-2 (ap
Slide 9: Indicative project concept
9 KAROON REVIEW DECEMBER 2010 Indicative project concept Karoon LNG/condensate indicative development model economics (assuming a discovery of 7 TCF and based on independent third party design concepts). FIELD DEVELOPMENT, PIPELINE AND LNG FACILITIES SCHEMATIC (ONSHORE LNG OPTION). Gas/liquid separa
Slide 10: Combined net cash flow
10 KAROON REVIEW DECEMBER 2010 Combined net cash flow Karoon LNG/condensate indicative development model economics. NET CASH FLOW FOR COMBINED OFFSHORE LIQUIDS REMOVAL AND ONSHORE LNG – 100% SHARE. 4000 PRRT begins 3000 2000 Field appraisal & feasibility studies Net cash flow (US$million) 1000 0 –10
Slide 11: Karoon indicative development model economics
11 KAROON REVIEW DECEMBER 2010 Karoon indicative development model economics Product revenues Capex profile PRODUCT REVENUES FOR COMBINED OFFSHORE – 2009 US DOLLARS LIQUIDS REMOVAL AND ONSHORE LNG – 100% SHARE. 4500 Product Revenues (US$million) CAPEX (US$million – 2009) Karoon share 7000 6000 4000
Slide 12: AC/P8
12 KAROON REVIEW DECEMBER 2010 AC/P8 Location: Close to the Laminaria/Corallina production facility with production tie in potential. JPDA 06-105 Potential: Main prospect ‘Jania’ with up to 20mmbl potential prospective resource. Claudia-1 Vidalia-1 5 additional leads with similar size potential. Kud
Slide 13: Brazil Santos Basin
13 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin OGX Natal discovery (June 2010) oil in Santonian sandstone reservoirs with Location: Santos Basin shallow water 300- 180m goss pay with a net pay of 75m. The liquid hydrocarbons encountered are of high quality, with an API of approximately 41°. Petr
Slide 14: Brazil Santos Basin - Marujá-1 location
14 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin -Marujá-1 location Piracucá Sao Pa Piracucá Field 230km Light oil and gas disoveries within Karoon Operated Blocks Tertiary aged reservoirs whih have ulo 100% equity S-M-1037 Light oil and gas discocered in e iro Cretaceous – Santonian/ n Campanian
Slide 15: Brazil Santos Basin
15 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin SAO PAULO B’ Piracucá Field Niterói Atlanta Light oil and gas discovered in Cretaceous – Tambaú PJS-559 Natal Belmonte BS-4 Santonian/Campanian aged reservoirs with Uruguá BS-500 Pole Mexilhão Area Pirapitanga PJS-551 resource estimates of 550 mmboe
Slide 16: Brazil Santos Basin – Karoon acreage play types
16 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin – Karoon acreage play types Depth Seabed Recent- Miocene Shallow detached Salt Eocene- Paleocene Sub-Salt Plays Post-Salt Maa Plays Cam strichtian pania - n Post- Salt Plays Sub-Salt San Plays ton ian Tur onia Aptian n Salt Ce Albia nom n- ani Aptia
Slide 17: Brazil Santos Basin – Seismic modelling
17 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin – Seismic modelling Pico do Morro da Piracucá Jaragua East Igreja East Field 21km 13km Low Probability of hydrocarbons Seismic Inversion High probabilities High of hydrocarbons n Extensive and comprehensive geological and geophysical studies. n A se
Slide 18: Brazil Santos Basin – Prospect analog
18 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin – Prospect analog Tiro Oil Field Pico do Jaragua East Stratigraphic thinning Stratigraphic thinning S & “pinch-out” of S & “pinch-out” of A reservoir onto flank of A reservoir onto flank of salt diapir. salt diapir. L L T T D D I I A A P P I I R R A
Slide 19: Brazil Santos Basin – Prospect example
19 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin – Prospect example Pico do Jaragua East Santonian Santonian Anomaly cycle 1 Santonian Anomaly cycle 1 Prospect example- amplitude Amplitude Map (Far stack response) Hydrocarbon Probability Map anomalies Note maximum closure @ 3,500m Note maximum clo
Slide 20: Brazil Santos Basin - Maruja oil field discovery
20 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin - Maruja oil field discovery TIRO FIELD MARUJA PROSPECT DISCOVERY OF LIGHT OIL TO THE SOUTH OF SANTOS BASIN (Petrobras announcement) Rio de Janeiro, November 16th, 2010 - Petróleo Brasileiro SA - Petrobras announces that it has confirmed the presenc
Slide 21: Brazil Santos Basin – Indicative Timeline
21 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin – Indicative Timeline Karoon activity 2009 2010 2011 2012 2013 Indicative time line (@Nov 2010) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Past Future SANTOS BASIN (Brazil) Interpretation 2 & 3D seismic purchase Heritage 3D Seismic re-pro
Slide 22: Indicative Santos Basin project concept
22 KAROON REVIEW DECEMBER 2010 Indicative Santos Basin project concept Karoon oil and gas indicative development model economics (assuming a discovery of 250 million barrels and based on independent third party design concepts). FIELD DEVELOPMENT, PIPELINE AND GAS PLANT FACILITIES SCHEMATIC (80,000
Slide 23: Net cash flow
23 KAROON REVIEW DECEMBER 2010 Net cash flow Karoon oil and gas production indicative development model economics. 100% SHARE. 2000 1500 1000 Net cash flow (US$million) Field exploration 500 and appraisal 0 –500 –1000 –1500 Development –2000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 202
Slide 24: Karoon indicative development model economics
24 KAROON REVIEW DECEMBER 2010 Karoon indicative development model economics Product revenues Capex profile OIL AND GAS REVENUES- 100% SHARE –2010 US DOLLARS Oil and Gas Revenues (US$million) 3500 1600 3000 1400 CAPEX (US$million- 2010) 2500 1200 2000 1500 1000 1000 800 500 600 0 09 10 11 12 13 14 1
Slide 25: Peru Tumbes Basin Block Z38
25 KAROON REVIEW DECEMBER 2010 Peru Tumbes Basin Block Z38 Colombia Location: Offshore Peru close to Ecuador producing fields and discoveries. Potential: 4 main prospects with net Brazil unrisked prospective resources totalling Peru 691mmbl. Additional leads recognised but yet to be 171Bcf MACHALA K
Slide 26: Peru Tumbes Basin – Prospects and Leads
26 KAROON REVIEW DECEMBER 2010 Peru Tumbes Basin – Prospects and Leads Block Z38 D Prospect Total recoverable resource 116 mmbl with a geologic risk (Pg) = 14% (D&M, Oct 2010 2D seismic based) Baleen Lead Total recoverable resource 116 mmbl A South Lead Total recoverable resource 50-100 mmbl A Prosp
Slide 27: Peru Tumbes Basin – Prospects and Leads
27 KAROON REVIEW DECEMBER 2010 Peru Tumbes Basin – Prospects and Leads 3D perspective of top reservoir. Red and yellow show seismic amplitude anomaly across the top of Baleen Lead the lead. Good concordance of amplitude to structure. Seismic gather showing Supportive AVO anomaly. increasing amplitud
Slide 28: Peru Maranon Basin Block 144
28 KAROON REVIEW Buena Vista DECEMBER 2010 Carmen Nor Este Bartra Peru Maranon Basin Block 144 Jibarito Situche SitucheCentral Central Nueva Esperanza Pavayacu Capriona Sungachi-9-2x San Juan Block 8 Corrientes 144 A prospect Prospect located beneath an Yanayacu undercapacity oil export pipeline and
Slide 29: Activity Summary
29 KAROON REVIEW DECEMBER 2010 Activity Summary KAROON ACTIVITY 2009 2010 2011 2012 2013 Indicative time line (@Nov 2010) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 BROWSE BASIN (Aust) Past Future Drilling (firm) Poseidon-1 (gas discovery) Kontiki -1 (Dry) Poseidon-2 (appraisal) Kronos-1
Slide 30: Disclaimer
30 KAROON REVIEW DECEMBER 2010 Disclaimer This presentation has been prepared by Karoon Gas Australia investment is appropriate in light of your particular investment Limited for professional and sophisticated investors. The needs, objectives and financial circumstances. Past performance information
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