Metgasco Ltd · ASX:MEL
Metgasco — RUI Good Oil Conference 2011
16 slides from Metgasco's conference presentation, Sep 7, 2011
Slide 1: RUI Good Oil Conference
For personal use only RUI Good Oil Conference 7 September 2011
Slide 2: Disclaimer
Disclaimer This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco For personal use only Ltd (Metgasco). No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information con
Slide 3: Overview
Overview Metgasco is an ASX Listed, onshore conventional and unconventional gas company, For personal use only with significant 100% owned acreage in Clarence Moreton Basin (NSW) Large uncommitted coal seam gas reserves – established in 10% of the Company’s acreage 1P Gas reserves of 2.7 PJ
Slide 4: Corporate Overview
Corporate Overview Capital Structure Purpose For personal use only ASX code MEL Share price (at 25 August 2011) $0.33 Market Capitalisation (million) $110.5 Shares on Issue (million) 334.8 Options on Issue (million) 8 Cash (at 30 June 2011) $23* Debt Nil * Includes recent capital raising Board and M
Slide 5: Recent Capital Raising
Recent Capital Raising Metgasco has recently raised over $21 million through: For personal use only a non-underwritten Placement ($6 million – finalised in June 2011); and a Share Purchase Plan ($15 million – finalised in August 2011) Existing funds and proceeds from this capital raising wil
Slide 6: Acreage
Acreage World scale acreage position in Clarence Moreton Basin (CMB) For personal use only 3 tenements (PEL 16, 13 & 426) 1,126,059 acres 100% owned Large gas resource potential CSG OGIP – 24 TCF Conventional – 2 TCF Drilling program has demonstrated CMB is gas charged over distance
Slide 7: Large and growing coal seam gas reserves
Large and growing coal seam gas reserves Australian Coal Seam Gas Reserves (Petajoules) For personal use only Company 3P 2P 100% ownership of gas QGC (BG) 14,261 7,245 reserves Origin 7,268 5,122 Large uncontracted reserve Conoco Phillips 6,265 5,004 Arrow Santos 5,171 3,348 position in the CSG
Slide 8: Metgasco current enterprise value by 3P is $0.04
Metgasco current enterprise value by 3P is $0.04 3.50 3.03 For personal use only 3.00 Transaction Multiple (A$/GJ) 2.50 2.00 1.88 1.65 1.50 1.00 1.00 0.77 0.74 0.77 0.74 0.67 0.69 0.57 0.56 0.51 0.51 0.50 0.40 Average $0.51 0.30 0.15 0.00 BG Petronas Shell QGC Conoco BG AGL AGL BG AOE ORG STO Shell
Slide 9: CSG Trial Production - Richmond seam
CSG Trial Production - Richmond seam For personal use only Corella P11 – single lateral on production test for over two years Corella P18 – sidetrack single lateral (improved drilling and completion techniques) – currently dewatering Harrier P01 – dual lateral recently finished drilling – prod
Slide 10: Kingfisher gas field
Kingfisher gas field Kingfisher E01 For personal use only First major conventional gas discovery in NSW (November 2009) Large section of gas charged sands identified: First major conventional gas discovery in NSW (November 2009) 138 meters of gas charged sands in Ripley Road and Gatton forma
Slide 11: Largest conventional prospect to be drilled mid 2012
Largest conventional prospect to be drilled mid 2012 For personal use only Greater Mackellar Structure Pmean OGIP 1,312 Bcf 11
Slide 12: The growing importance of gas to NSW
The growing importance of to NSW Future NSW Gas Supply For personal use only The NSW Government believes that gas is forecast to supply 30% of the States power needs over the next 25 years Existing NSW Gas Supply 94% of gas supply to NSW is imported from other states. Australian gas market
Slide 13: Big companies demonstrating confidence in CSG
Big companies demonstrating confidence in CSG Energy majors are hungry for positions in large scale unconventional gas resource For personal use only plays Shell/ Petrochina – Acquisition of Arrow Energy A$3.5 Billion BG – Acquisition of QGC A$5.2 Billion ConocoPhillips – Acquisition of Orig
Slide 14: Numerous commercialisation options available
Numerous commercialisation options available Domestic gas For personal use only Domestic gas fired electricity Gas to LNG export (Worley Parsons study) Other industrial gas uses 14
Slide 15: Multiple development pathways – gas, power, LNG
Multiple development pathways – gas, power, LNG For personal use only 700 1x 3.5 Mtpa NSW Electricity LNG Plant Market with 600 Carbon price or direct action Distance to Market (Km) 500 policy Power 400 Brisbane 300 Gas Load Mini200 LNG Nth NSW 100 Electricity ad NRPS RVPS 0 Export LNG 0 100 200 300
Slide 16: Looking forward
Looking forward Heightened demand for gas For personal use only Domestic customers currently seeking to lock in large gas volumes Gladstone LNG projects require additional gas to meet export commitments Potential for stand-alone LNG project Metgasco is the last remaining independent compan