Melbana Energy Limited · ASX:MAY
Melbana Energy — MEO Australia — HiAlpha Mining Investment Conference 2011
20 slides from Melbana Energy's conference presentation, Nov 29, 2011
Slide 1: HiAlpha Mining Investment Conference
HiAlpha Mining TM Investment Conference New York City, 29th November, 2011 Jürgen Hendrich, CEO & MD 1
Slide 2: Corporate profile
Corporate profile $90m cash + 5 gas discoveries + experienced board & management + A$9.7m enterprise value = value + leverage! Company Profile Board of Directors Executive Management MEO Australia Limited (ASX: MEO; OTC: MEOAY) Nick Heath Jürgen Hendrich Non-Executive Chairman Chief Executive Office
Slide 3: What differentiates MEO?
What differentiates MEO? Sound execution of simple business model to package growth opportunities for Majors Build Optionality Enhance balance sheet Build long term relationships Package growth opportunities for majors Compete: speed & technical; attract best available talent Business model: low ent
Slide 4: Thematic – fuelling Asian energy growth
Thematic – fuelling Asian energy growth Australia growing to world’s second largest LNG producer by 2016 80 Prelude FLNG Wheatstone LNG 70 GLNG * QCLNG * Gorgon LNG 60 Pluto LNG Darwin LNG North West Shelf 50 Annual Production [Mtpa] 40 30 20 10 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 20
Slide 5: Portfolio has SE Asian focus
Portfolio has SE Asian focus 5 gas discoveries near LNG infrastructure: testing substantial targets in 2012 Gurame, Kuala Langsa & exploration prospects Seruway South Madura Heron & Gas Blackwood discoveries near LNG Bonaparte infrastructure Carnarvon 5
Slide 6: Expanded high calibre team during 2011
Expanded high calibre team during 2011 extensive international & major oil & gas company experience Executive management, commercial, finance & administration (Melbourne Office) Karen Dennison * Sasha Aistrope Jürgen Hendrich Executive Assistant Executive Assistant Chief Executive Officer (on matern
Slide 7: Growing Jakarta branch office
Growing Jakarta branch office Expanding dedicated core team to manage a very active 2012 campaign Jakarta Office Staff Muslim Basya President Tri Pudjiastuti Finance Manager Asvil Martin Senior Accounting Rani Primalia Admin Asssistant Hidayat Finance Assistant Radian Z. Hartama Government Relation
Slide 8: Petrobras farmed-in to WA-360-P in 2010
Petrobras farmed-in to WA-360-P in 2010 MEO balance sheet strengthened, allowing pursuit of new growth opportunities W AA -- 33 66 11 -- PP W MARTELL Chevron – 8.9 Mtpa LNG (Onslow) FID: September 2011 ANGEL CHANDON PERSEUS COSSACK RANKIN NORTH WANAEA W W AA -- 33 66 00 -- PP GOODWYN Woodside – 4.3
Slide 9: Eni Australia Ltd farm-in to NT/P68 in 2011
Eni Australia Ltd farm-in to NT/P68 in 2011 earning 50% interest by funding 2 fully tested Heron wells + 3D seismic + 1 fully tested Blackwood well 60 Days 36 Months 180 Days Eni MEO holds 25% Eni Drills Eni Drills Eni increases All Activities to FID * Obligations of sanctioned Heron 3 Heron 4 equ
Slide 10: Packaging growth options for industry Majors
Packaging growth options for industry Majors Building long term partnerships , enhances prospects for repeat business 2010: Petrobras farm-out (WA-360-P) 2011: Eni Australia farm-out (NT/P68) Petrobras: 3rd largest listed energy company Eni: Multi-national energy company Target: ~12 Tcf (undiscovere
Slide 11: Transactional evidence reflects demand for gas
Transactional evidence reflects demand for gas 28th October 2011 - 40% interest in 28% CO2 Evans Shoal gas resource sold for US$350m 2009: PT Energi Mega Persada acquire 10% interest in Abadi field ABADI (Gross 10 Tcf) for US$ 100 million US$ 100 million per Tcf SUNRISE 2011: Santos sells 40% intere
Slide 12: Comparison of Evans Shoal vs Heron/Blackwood
Comparison of Evans Shoal vs Heron/Blackwood 40% of Evans Shoal sold for US$350 million – MEO has 50% carried interest in adjoining permit NT/P48 (Evans Shoal) NT/P68 (Heron & Blackwood) Wells on Structure: Two Wells on Structures: Three • Evans Shoal-1 (BHPP 1988) – Gas shows • Heron-1 (Arco 1972)
Slide 13: Heron-3: 60 day duration well from March 2012
Heron-3: 60 day duration well from March 2012 Testing LNG scale resource partially intersected by Heron-2 in early 2008 Heron-2 Heron-1 KEY FACTS NT/P68 - Timor Sea, Australia Blackwood East Blackwood Well Well Strategic Develop Heron & Blackwood gas NT/P68 Objective discoveries Heron MEO W.I. 50% +
Slide 14: Tassie Shoal projects
Tassie Shoal projects Development options for stranded regional gas resources with elegant CO2 solution Methanol Gas Loading Buoy Supply N Pipelines Methanol Cooling Plant Indonesia Water (stage 1) Australia Outlet ACP LNG Storage LNG Plant (3 mtpa) 10 km LNG JPDA Load out 0 500m Location central to
Slide 15: Contiguous acreage, proven fairway, 100% equity
Contiguous acreage, proven fairway, 100% equity Nearby recent success at Cash-2 (PTTEP) flowed 28 mmcf/d gas & 737 b/d condensate KEY FACTS AC/P50, AC/P51, AC/P53 – Timor PTTEP – FLNG Pre-FEED Sea, Australia Cash-2 test results #1: 28 Mmcfd/737 bcpd Strategic Explore for and prove up significant PTT
Slide 16: WA-454-P acquired in 2010 gazettal round
WA-454-P acquired in 2010 gazettal round Close to existing & proposed gas infrastructure: contains Marina-1 discovery KEY FACTS WA-454-P – Timor Sea, Australia Strategic Discover & develop liquids rich gas Objective resources MEO W.I. 100% Operator MEO Water Depth ~ 100 metres GDF Suez – 2.0 Mtpa FL
Slide 17: Seruway PSC – North Sumatra
Seruway PSC – North Sumatra A portfolio with gas discoveries near LNG infrastructure & hungry domestic gas markets KEY FACTS Seruway PSC – Aceh Province, Scoping plan of development Indonesia ExxonMobil – 4 Mtpa LNG Capacity Strategic Appraise commercial gas resources Currently operating <50% capaci
Slide 18: Expanded portfolio 1H-2011: Acquire seismic. Drill 2012
Expanded portfolio 1H-2011: Acquire seismic. Drill 2012 Expanded portfolio at low entry cost. 3D seismic to define prospects for drilling in 2012+ 2011 2012 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 AUSTRALIA Carnarvon Basin WA-360-P 323 km2 363 km2 WA-360-P, WA-361-P Permit 3D Seismic 3D Seismic (MEO 25% WI, 50% WI)
Slide 19: Well positioned for growth
Well positioned for growth Expanded portfolio & team of talented professionals, poised to unlock significant value in 2012 Blackwood East Heron-2 Heron-1 Blackwood Well Well Seruway NT/P68 Heron Purchase Price Line of Cross Section US$5m Lowest Known Gas (LKG) = 4115m SS GCA Mid Case = gas down to 4
Slide 20: Disclaimer
Disclaimer Compliance Disclaimer This presentation includes certain forward-looking statements that have been based on current expectations about future acts, events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause tho
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