Bengal Energy Ltd. · TSX:BNG
Bengal Energy — Shareholder Meeting (September 2021)
23 slides from Bengal Energy's shareholder meeting presentation, Sep 28, 2021
Slide 1: Oil & Gas Producer And Explorer In Australia's Cooper Basin
: BNG Oil & Gas Producer And Explorer In Australia’s Cooper Basin Bengal Energy Ltd. AGM Please visit the following link to view our September 28, 2021 AGM Presentation https://bengalenergy.ca/investors/presentations-events Questions, comments and concerns should be directed to: investor.relations@b
Slide 2: Disclaimer
DISCLAIMER Certain information regarding Bengal Energy Ltd (“Bengal” or the “Company”) set forth in this document contains forward-looking statements or financial outlooks (collectively, "forward-looking statements") under applicable securities law. The use of any of the words “plan”, “expect”, “pro
Slide 3: Disclaimer: Oil and Gas Metrics and Abbreviations
DISCLAIMER Certain Oil and Gas Metrics and Abbreviations This document contains certain oil and gas metrics, such as finding and development costs, log pay, operating netbacks and field netbacks, which do not have standardized meanings or standard methods of calculation and therefore such measures m
Slide 4: Disclaimer (Cont'd)
DISCLAIMER (CONT’D) Third Party Information: Certain other information contained in this presentation has been prepared by third-party sources, which information has not been independently audited or verified by the Company. No representation or warranty, express or implied, is made by the Company a
Slide 5: Gaining Exposure To High Impact Producing And Exploration Projects In Australia's Cooper Basin
TOP-TIER JURISDICTION GAINING EXPOSURE TO HIGH IMPACT Production, development and exploration assets in Australia’s Cooper Basin, a world-class hydrocarbon jurisdiction – favourable royalty and tax jurisdiction. PRODUCING AND EXPLORATION OIL AND GAS Proximity to Asia provides significant advantage t
Slide 6: Positioned For Near-Term Growth
POSITIONED FOR NEAR-TERM GROWTH 2021 Prospects Ready To Produce – All Tied Into Existing Gathering Network Commodity Prices: Brent Oil > US$70/bbl; East Coast Gas A$8-11/mcf Legbar ATP 934 Farm-out / Legbar (40% Santos operated) Santos drilling 100% to earn 60%; BNG pays 40% of tie-in costs on succe
Slide 7: Corporate Snapshot
Financial Information 21 September 2021 Deployment of Capital CORPORATE C$4 Million Nil Debt Cash And Financial Assets All Free Cash Flow Goes To SNAPSHOT Funding Growth Exploration 46% Development 54% SHAREHOLDERS SHARE INFORMATION On the 26th of February, Bengal Share Price 0.09 Energy closed C$16
Slide 8: Highly Dedicated And Experienced Management Team
HIGHLY DEDICATED AND EXPERIENCED MANAGEMENT TEAM CHAYAN CHAKRABARTY, PhD, MBA JERRAD BLANCHARD, CA, CPA RICHARD EDGAR, BSc P. GEO KAI EBERSPAECHER, Meng MBA PRESIDENT, CEO & DIRECTOR CHIEF FINANCIAL OFFICER EXECUTIVE VICE PRESIDENT CHIEF OPERATING OFFICER 25 years' experience in the oil and gas 15 y
Slide 9: History Of Selecting A Mix Of Cash Generative And Exploration Assets
HISTORY OF SELECTING A MIX OF CASH GENERATIVE AND EXPLORATION ASSETS • Acquisition of PLs Transformational First success – Hutton Continual JV with Santos offsetting ATP 934 organic growth oil discovery at development of leading to Cuisinier (with found gas & campaign supported Toparoa, with Stuart
Slide 10: Promoting Sustainable Development
PROMOTING SUSTAINABLE DEVELOPMENT Bengal’s Work Programs Meet All of Queensland and Australia’s Health, Safety, Community and Environmental Standards and are Aligned With Global Sustainability Standards. HEALTH & ENVIRONMENTAL SOCIAL PEOPLE SAFETY STEWARDSHIP RESPONSIBILITY FOCUS Health and Safety a
Slide 11: Strong Oil And Gas Demand Outlook
STRONG OIL AND GAS DEMAND OUTLOOK Natural Gas Projections For Large Primary Energy Consumption Outlook Industrial Users Remains Strong 300 12 quadrillion British thermal units 250 10 200 8 AUD$2020/GJ 150 6 100 4 50 2 0 0 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 oil & other liquids (incl. b
Slide 12: Australia Well-Placed To Take Advantage Of Rising Energy Trends
AUSTRALIA WELL-PLACED TO TAKE ADVANTAGE OF RISING ENERGY TRENDS Snapshot Of Australian Oil And Gas Industry LNG Exporters By Market Share (2021F) UAE, 2% Papua New Brunei, 2% Egypt, 1% Guinea, 2% Oman, 3% Trinidad, 4% Qatar, 22% Russia, 4% Algeria, 5% Indonesia, 6% Australia, 21% Nigeria, 7% Malaysi
Slide 13: Cash Flows Increase Dramatically As Oil Prices Rise
CASH FLOWS INCREASE DRAMATICALLY AS OIL PRICES RISE Zero Debt Means That All Free Cash Flow Can Be Expansive Reserve Base Signifies Directed to Funding Growth Strong Growth Potential 4000 Company Interest Oil Sensitivity Of Cash Flow To Oil Prices Reserves (Mstb) 1P 2P 3500 Free Cash Flow (CAD$’000s
Slide 14: Flying Under The Radar
FLYING UNDER THE RADAR Peer Comparison Based Only on 2P Reserves Implied Market Capitalisation of Bengal is Low EV / 2P Mmboe as at July 16, 2021 When Compared to Other Australian Listed Oil and Gas Explorers 25 Market Cap EV/2C Listed explorer (AUD Basin 20.8x 20.7x Resources millions) 20 Strike En
Slide 15: Cuisinier – Producing Asset
CUISINIER – PRODUCING ASSET Cashflow Used To Unlock Company Value • To date, the Cuisinier field has produced 3.5 Proposed Well Locations MMbbls with 2P oil in place of 95 MMbbls. • 52 degree API oil with oil price at premium to Brent. • Currently producing 211 BOPD. • A pilot reservoir pressure mai
Slide 16: Near-Term Drilling Program
NEAR-TERM DRILLING PROGRAM Numerous Recent Drilling Successes At Neighbouring • Santos to drill the Sites Supports Legbar Exploration first natural gas exploration well (Legbar #1). • Future development of Southern farm- out block. • Bengal 100% exploration on the Northern block. *Test rates source:
Slide 17: Next-Phase Drilling: Barrolka (ATP 934)
NEXT-PHASE DRILLING Transformative Asset: Barrolka (ATP 934) • Operator with 100% working interest in Barrolka. • Acquired 4 PLs surrounding ATP 934 with an area of 267 km² (65, 977 acres) and a 26 km pipeline. • Large, undrilled 711 km² permit with active drilling, in the area presenting strong ups
Slide 18: ATP 732 – Tookoonooka
ATP 732 – TOOKOONOOKA Caracal well Wyandra Zone & Permian Gas Potential • Operator with 100% interest – 208,000 acres. • The 100% W.I. Caracal well is cased as a Wyandra Zone Oil Well. • Planned fracture stimulation in H1 2022 to develop this 53o API oil discovery. • Analogous to Wyandra Producing f
Slide 19: Additional Properties Provide Significant Upside
ADDITIONAL PROPERTIES PROVIDE SIGNIFICANT UPSIDE Offshore asset, North of Perth – Bengal AC/RL-10 Note cumulative oil production from Finder AC/P61 Jabiru and Challis on trend with Katandra oil feature on Bengal’s AC/RL-10 Permit Produced 112 MMbbls ENI AC/P21 Produced 59 MMbbls © 2021 Bengal Energy
Slide 20: Appendix
Appendix
Slide 21: Cooper Basin, Queensland Australia
COOPER BASIN, QUEENSLAND AUSTRALIA Legbar © 2021 Bengal Energy. All Rights Reserved. 21
Slide 22: Glossary
GLOSSARY Item Description Item Description API American Petroleum Institute OOIP Original oil in place ATP Authority to Prospect PCA Potential Commercial Area AUD$ Australian Dollars PLs Petroleum Lease BBLs Barrels PSTM / PSDM pre stack time migration / pre stack depth migration BCF Billions of sta
Slide 23: Extracting Value From The Cooper Basin
FOR MORE INFORMATION: Suite 1110, 715 5th Ave S.W. Calgary, AB, Canada, T2P 2X6 EXTRACTING VALUE FROM THE COOPER BASIN E: investor.relations@bengalenergy.ca T: +1-403-205-2526 TSX : BNG w w w . b e n g a l e n e r g y. c a