Buru Energy Ltd · ASX:BRU
Buru Energy — Shareholder Meeting (November 2013)
23 slides from Buru Energy's shareholder meeting presentation, Nov 12, 2013
Slide 1: 2013 AGM Presentation
Buru Energy Limited ABN 71 130 651 437 Level 2, 88 William Street Perth, Western Australia 6000 Ph: +61 8 9215 1800 For personal use only Fax: +61 8 9215 1899 ASX Announcement www.buruenergy.com ASX: BRU 12 November 2013 2013 AGM Presentation Buru Energy Limited provides the attached Corporate Prese
Slide 2: Delivering Our Potential: WA's Own Powerhouse
For personal use only Delivering Our Potential WA’s Own Powerhouse Dr Keiran Wulff Annual General Meeting Managing Director November 12 2013 www.buruenergy.com
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer For personal use only This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru"). This presentation contains certain statements which may constitute "forward-looking statements". It is believed that the expectations reflected in thes
Slide 4: Overview
Overview 2013 Highlights & Challenges For personal use only Capability Building Program Ungani Development Laurel Wet Gas Exploration Program and Funding Outlook 2
Slide 5: Highlights & Challenges
Highlights & Challenges 2013 - a year of consolidation & capability build • Putting in place key success factors For personal use only • Stakeholder alignment • Funding • Equipment • Capability • Positioning Buru for value delivery and an exciting future: Oil revenue Major gas potential being re
Slide 6: Outstanding acreage position
Outstanding acreage position Focus on highest value areas whilst progressing remainder Long term position with tenure certainty For personal use only • 64,000 sq kms continuous basin wide coverage • Oil – near term cash flow with follow-up • Gas – potential world scale resource of strategic importan
Slide 7: The way forward
The way forward Unlocking value is achieved by aligning key stakeholders Strong and enduring Traditional Owner relationships For personal use only • Proactive Community engagement and transparent activities • Skills development, job creation and contracting • Sustainable business creation • Equitabl
Slide 8: 2013 - Getting ready in the field
2013 - Getting ready in the field Positive community engagement For personal use only Heritage and monitoring Cultural awareness training PL negotiations well advanced Community and schools support Contracting and employment Drilling preparations 2D Seismic & 3D Seismic Aero-gravity
Slide 9: Building capability to deliver
Building capability to deliver Internationally experienced & proven management team MANAGING DIRECTOR For personal use only Executive Director 2013 Hires Dr Keiran Wulff Eric Streitberg (ex Oil Search, Phillips) HEALTH, OPERATIONS COMMUNITY SAFETY & CORPORATE ENVIRONMENT GM Community Chief Scientist
Slide 10: Ungani Phase 1: EPT Project Overview
Ungani Phase 1: EPT Project Overview Transport to Storage & export Shipping to For personal use only Ungani Field Wyndham Tank Farm from Wyndham refinery Discovered 2011 Trucking of crude Crude oil storage Crude shipping 50m+ oil column, 900km to existing tank Wyndham in Cambridge Gulf Wyndham to re
Slide 11: Ungani Structure (2D versus 3D seismic imaging)
Ungani Structure (2D versus 3D seismic imaging) Improved resolution assisting development planning For personal use only 2010 (2D) 2013 (3D) 2D Line 82-146 3D Pre-STM Fastrack inline 1452 Delivered 4th November 9
Slide 12: Ungani Laurel dolomite depth map
Ungani Laurel dolomite depth map Proposed Ungani-1 and Ungani-3 location Ungani-2 wells Depths ~ 2100m below sea level For personal use only Viewed from the North 10
Slide 13: Ungani Phase 2: Full field development
Ungani Phase 2: Full field development Major production increase and export from local port Post FID (after U3 well) Facility Upgrade For personal use only • Permanent high volume export route • All weather operation – pipeline/road/loadout • Staged FID process for optimal development Target 3,000
Slide 14: Ungani oil development
Ungani oil development Clear value realisation and growth path Phase 3 For personal use only 2015+ 15,000 bbl/day Ungani Cluster development (Ungani plus new field discoveries) Ungani Phase 2 2014 5,000 bbl/day Full Field Development Ungani Phase 1 2013/14 1,000 to 2,000 bbl/day Current wells 12
Slide 15: Laurel Gas - A potential strategic resource
Laurel Gas - A potential strategic resource Independent analysis estimates P50 Prospective Resource >47 Tcf net to Buru Potential world class accumulation For personal use only • Extensive overpressure at drillable depths • Sweet gas , low CO2, no H2S, high liquids Preparation for appraisal process
Slide 16: High value Ungani exploration trend
High value Ungani exploration trend Potential for rapid cluster style development growth Ungani oil discovery is a “play opener” For personal use only • Conventional Vuggy dolomite reservoir • Ungani Nth extended play • Structures are readily imaged by geophysics • Ungani Oil Trend covers over 120 k
Slide 17: Ungani trend oil portfolio
Ungani trend oil portfolio High potential for near term Ungani look-a-likes personal use only Ungani Flanks Increasing Geological Confidence (GPOS) Praslin Ungani Greater 2014 3D seismic (Jackaroo) Ungani 3D seismic Jackaroo Appraisal and develop drilling North DST Bickley 3D seismic L Eda Kurajong
Slide 18: Well balanced capital management program
Well balanced capital management program Minimal dilution, activity based & supports quality program only 2013 – 2014 FORECAST NET BURU EXPENDITURE & SOURCES (does not include SPP funds or Ungani revenue) 160.0 - 13’ A$100M+ Capital Program* 25.5 Institutional Project Funding 140.0 35 use placement
Slide 19: Well balanced capital management program
Well balanced capital management program Minimal dilution, activity based & supports quality program only • Ungani Oilfield - A$92M gross, $46M net, for full field development at up to Fully Funded Forward Program* 7,500 bopd use • Laurel Wet Gas - $54M gross, $27M net for stimulation and flow For p
Slide 20: Creating a material & sustainable growth story
Buru Energy: Creating a material & sustainable growth story 2013 2014 2015 For personal use only BUILDING THE PLATFORM FOR MATERIAL CASH FLOW TARGETED OIL EXPANSION, LONG TERM GROWTH MAJOR DERISKING OF GAS & CONFIRMING GAS VIABILITY, CONTINUOUS HIGH VALUE MULTI-RIG APPRAISAL & EXPLORATION DRILLING E
Slide 21: Sustainable growth pathway
Sustainable growth pathway High Value and Balanced Work Program For personal use only • Focus on Ungani development and cash flow • Definitive gas program and pathway to commercialisation • Focus on Ungani trend exploration and • Derisking other areas ahead of longer term campaign style programs Maj
Slide 22: Buru's vision: WA's own powerhouse
Buru’s vision WA’s own powerhouse PHASE 1 Oil Export: 4Q 2013-2025+ For personal use only Oil export facility, >1-2+mmbo/yr export Broome Wyndham Port Hedland PHASE 4 : LNG sales 2020+ New or gas sales to existing LNG plants along Dampier NW Shelf PHASE 2 Powering the North & Midwest: •Target 30 – 2
Slide 23: www.buruenergy.com
For personal use only www.buruenergy.com