Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Shareholder Meeting (November 2006)
29 slides from Pancontinental Energy Nl's shareholder meeting presentation, Nov 30, 2006
Slide 1: Andrew
Andrew Matthew Ba on Manager Strictly Private and Confidential
Slide 2: Disclaimer & Confidentiality Notice
Disclaimer & Confidentiality Notice The information contained in this Presentation or subsequently provided to the Recipient of this Presentation whether orally or in writing by or on.behalf of Pancontinental Oil & Gas NL (“PCL”) or their respective employees, agents or consufianis (“Information”) i
Slide 3: Corporate Highlights (1)
Corporate Highlights (1) INTERNATIONAL » Farm-out to Origin in I approved by Governme! seismic operations ¢ nya Blocks L8 & L9 and US$4million of tart mid December » Signed Farm-in agree th Gippsland Offshore Petroleu Ltd for expenditure of US$1.9million in Kenya,Block L6; seismic scheduled to start
Slide 4: Corporate Highlights (2)
e Highlights (2) NW SHELF co » EP424: Baniyas Pros trap presence with 2 amplitude anomal CANNING BASIN ' EP104: Stokes Bay-1 gas appraisal well "approved and planned for April 2007 t mapping confirms iated seismic « Oil test of Valentine. rospect. also planned in same drilling program
Slide 5: Corporate Summary
Slide 6: Management Structure
Management Structure:- Perth Based Board of Directors David Kennedy (Chairman) a Svalbe (CEO) Peter Munachen (Finance) Rushworth (New Ventures) Tan Cornelius (Non-executi Operation Chief Executive Officer: / New Ventures Director : B (London Based) Exploration Manager : Matthew Battrick
Slide 7: Corporate Strategy
Slide 8: offshore fi
offshore fi ne
Slide 9: WL
WL
Slide 10: Value Comparison: Enterprise Values vs Peers
“nterprise “ All active in Africa 2 All have frontier acreage & all have carried interests « Baraka has only 2 Countries « PCL & Global have 4 Countries Value Comparison: EV's as @ 23rd May 2006 Pancontinental BarakaPetroleum Global Petroleum
Slide 11: Share price potential
Price 2 A$0.60c in 2008? » HDR =10 x increase in share price over 4 years due to Mauritania : Frontier play ~ 20 equity « PCL has 4 asset options to deliver this outcome == ago, 2006 But, success in any one country is worth A$1 — 2 per share
Slide 12: Afrex-PCL Merger and share price history
Afrex-PCL Merger idervalued Anadarko Woodside Enter Malta Woodside Exit L6,8,9 Origin Ente Enter Kenya Kenya 1are price Month & Year
Slide 13: Huge Potential in Existing Prospect Portfolio
Huge Potential in Existing Prospect Portfolio Millions of Barrels Un-risked Speculative Potential (Pmean Gross Oil Reserves) 9 1 13 15 17 99 24 230 25 «27 Pancontinental's international Prospects & Leads Inventory lia
Slide 14: Drilling Toward Exploration Success
Drilling Toward Ex Success (Current £ \ssets) Project 2006 2007 ae o 2008 2009 EP- 424 Seismic Acquisition (¢ EP-104, R1 Malta Kenya Morocco
Slide 15: Role of Operator
role of Operator i « Shooting seismic with Origin + Falcon Gravity » Empire Oil secure farm Stokes Bay-1 = Arc buy in and appointed as Operator « Strike shoot detailed seismic over Baniyas prospect
Slide 16: Technical Highlights: Kenya
Slide 17: Build & Farm-out Complete - Now Ready for Growth
“Build & Farm Ready for “Growt Origin operating seism in Blocks L8 & L9 » Earning 50% for US$4mr seismic » Earn extra 25% for drilling 1 well per block operate Block L6 Earning 60% for US$1.9mm seismic and Falcon airborne gravity -out” Complete - Now ‘Bocehe Lends
Slide 18: M'bawa Lead: Comparison between PCL & Woodside
MBAWA LEAD Comparison between «» 2 =" Ww PCL & Woodside ~ Prospectivity ms » PCL & Origin (Block L » M’bawa: ~ 1,500 MMB recoverable 500 3000 « Woodside (Block | & 2 wells to be drilled » Pomboo & Sokwe South, — ~300 MMBO recoverable
Slide 19: Activity in December 2006
in December 2006 « Seismic worth US$4 mi across L8 & L9 * Gippsland joining L6 million geophysical « Woodside to dri in L5 & L7, Noven « All this activity c ose to th growing energy i¥ the Asian Sub-continent
Slide 20: Technical Highlights: Malta
Slide 21: Malta - Low risk play
Malta - Low risk play adjacent to producti gy tenets sid Yassin J © @3oee so Witvsiy MEDITERRANEAN Many fields in the same rocks with Livesa~ $B Halk Lacie GD Lompedasa’* 100’s of millions t billions of barrels tas vs e @ eo Le reserves each jMigen om : a rb. a s ae aon is sy ig Ff * oe is Ceuii F q
Slide 22: Malta on Growth Path: Entering Seismic & Drill Phase
Malta on “Growth” Path: Entering Seismic & Drill Phase » Anadarko to shoot 2D seismic and drill 1 well to earn 65% (P. 28%) = 2"4 well will earn L @ 20%) L ‘ cL ' 2 Prospects 2 © CHIANTI PROSPECT DIP SEISMIC LINE LOCATION MAP » 8 Leads | » Chianti P50 = 453 MMBO e Limoncello P50 = 968 MMBO _ « Allin
Slide 23: Malta upside after border issues are settled
after border issues with Tunisia and Libya are settled « Tunisia very close t e” resolution « Dialogue with Lib » Anadarko market cap. 40% « Anadarko recently ecured a drilling unit on long term contract ntum larger than Woodside = Allows rapid execution of drilling option once seismic complete All
Slide 24: Technical Highlights: Australia
Slide 25: Baniyas (EP-424)
Bantyas (EP-424) exploration close to PCL equity in EP424 = 25% = Strike Oil is Operator Oil production infrastr 10kms north-west Baniyas Prospect spec. potential (gross) P50 = 30 MMBO Chevron operate western half of Baniyas Prospect PCL @ 10-12% after likely unitization Prospect QO ON Fiaid. @ cast
Slide 26: Stokes Bay-1 (EP 104): Build & Farm-out completed
Stokes Bay-1 (EP 104): “Build & Farm-out” completed - ready for MOeganth” Growth « ARC Energy to commence multi-well drilling campaign in April/May 2007 Stokes Bay-1 to appraise Point Torment gas & condensate discovery. Valentine-1 to test deeper oil prospect “se “PCL increase equity ~ from 8% to 10
Slide 27: Drilling in mid 2007
drilling in mid 2007 « ® Strike Oil to dis exploration well » Early cash flo exploration drilling is successful. rR « Stokes Bay-1 & Vale ine- 2-4 in Canning Basin, on back of. ARC. purchase of Kimberley Oil — due to start April 2007, after wet season
Slide 28: New Ventures Strategy
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