Galilee Energy Limited · ASX:GLL
Galilee Energy — Shareholder Meeting (November 2014)
20 slides from Galilee Energy's shareholder meeting presentation, Nov 20, 2014
Slide 1: Delivering on Strategy - Annual General Meeting
Annual General Meeting 20 November 2014 For personal use only Delivering on Strategy Peter Lansom – Managing Director
Slide 2: Galilee – a well funded growth story
Galilee – a well funded growth story For personal use only • Board and management, as major shareholders, are committed to investing in low- cost, high-return projects with either near-term production or scale potential • Detailed technical and commercial review of Galilee Basin Assets • Current des
Slide 3: Company overview
Company overview For personal use only Market overview (19 Nov 2014) Substantial Shareholders No of shares % ASX code GLL Market capitalisation $20.5m Top 20 holders 82,339,341 54.12% Shares on issue 152.1m Directors & Management 9,468,663 6.22% Closing share price $0.135 Average daily trading vol.
Slide 4: Experienced oil and gas team
Experienced oil and gas team For personal use only Board and Management Dr David King Peter Lansom Ray Shorrocks Paul Bilston Non-Executive Chairman Managing Director Non-Executive Director Executive Director PhD, MSc, B.E. Petroleum (Hons) B.E. (Mech), PhD FAusIMM, FAICD. 40+ years experience in na
Slide 5: Corporate direction
Corporate direction For personal use only Clear strategy to grow shareholder value and the capacity to execute Maximise the value of the foundation asset – ATP 529. Demonstrate commercial gas flow and book reserves Three Develop a sustainable foundation by building a solid part production base. Deli
Slide 6: Delivering on strategy
Delivering on strategy For personal use only Galilee is building a diversified global portfolio Building a production base: • Shallow oil in Illinois • Significant interest in a number of high impact onshore gulf coast wells, Texas • Shallow oil and gas in Kansas Building a broader exploration portf
Slide 7: Shallow oil in Illinois
Shallow oil in Illinois For personal use only • Multi-horizon - high return, shallow oil prospects • Shallow targets with DHC < US $200,000 • GLL funds 100% of DHC of first well in any prospect to earn 75% WI in prospect • Illinois Basin • Prolific shallow, intracratonic basin • Already yielded more
Slide 8: Texas: onshore Gulf Coast
Texas: onshore Gulf Coast For personal use only • Participation agreement covering ~65,000 acres in Lavaca County, onshore Texas Gulf Coast • Primarily focused around two existing large 3D seismic datasets • Partnered with highly regarded Calex Resources Inc and Gruy LLC • Extensive history with Lav
Slide 9: Lavaca County – Interest Map
Lavaca County – Interest Map For personal use only 9
Slide 10: Hoffer B – Lavaca County
Hoffer B – Lavaca County For personal use only • High impact exploration play with multiple follow ups • 35% WI before payout (28% after payout) • Equal terms with all other JV partners in drilling costs • Large ~ 900 acre 3D defined “umbrella structure” • Lower Wilcox, • Secondary targets in upper
Slide 11: Dworsky Prospect – Lavaca County
Dworsky Prospect – Lavaca County For personal use only • High impact exploration play with multiple follow ups • 32% WI to casing point (24% after casing point) • Primary targets – Midcox section • Middle Wilcox • 15 – 65 ft thick • Porosities 18-22% • Permeability 20 – 80 md • Discrete point bar an
Slide 12: Spikes East Prospect – Lavaca County
Spikes East Prospect – Lavaca County For personal use only • Spikes East Prospect • 40% WI to payout (32% after payout) • Williams channel • Large 2,000 – 2,500 acre channel complex • Multiple individual sand build ups (50 – 100 acres) • Primary Targets – Midcox section • Similar properties and anal
Slide 13: Southern Kansas
Southern Kansas For personal use only • Progressively earn up to 75% WI in select leases from within existing 110,000 acre lease position • Growing play in Kansas • Multiple reservoir targets in Carboniferous: • Lansing & Kansas City groups, Marmaton, Cherokee, Morrow and Mississippi • Also targets
Slide 14: Southern Kansas
Southern Kansas For personal use only AMI area is surrounded by strong production. Meade and adjacent counties have produced 185 MMBbl of oil and 5.5 Tcf of gas. Fields have production from multiple zones. 14
Slide 15: Chile
Chile For personal use only • Partnered with ENAP – Chile’s state owned oil and gas company • Initial MOU to carry out a study (1.8 Million acres) into coal seam gas potential in Magallanes Basin • Conoco Phillips recently announced they will partner with ENAP to look at unconventional hydrocarbons
Slide 16: The Chilean gas equation
The Chilean gas equation For personal use only • Argentina significantly curtailed gas supplies in 2004 • Chile now imports ~ 80% of its natural gas and has been forced to substitute with more expensive fuel. Chile has already built two pacific coast LNG import terminals, and has announced a third •
Slide 17: Coal seam gas in Magallanes Basin
Coal seam gas in Magallanes Basin For personal use only • Close to existing markets and extensive pipeline and other infrastructure in a well established hydrocarbons province • Eocene-Oligocene Loreto formation with extensive coals from outcrop to more than 1,200 m depth, Secondary targets in the o
Slide 18: Galilee Basin CSG – ATP529P
Galilee Basin CSG – ATP529P For personal use only • Long history with more than $100 M spent • GLL technical review identified most water production to date not sourced from coals • Proposed new completion designed to test ability to draw down coal • Ongoing discussions with operator AGL. Coals Reso
Slide 19: A well funded growth story…
A well funded growth story… For personal use only • ~$24.7m* of cash and fully funded Strong Balance Sheet • Prudent deployment of cash • Reduced office and non technical G&A costs • Galilee board and management are significant investors in the Company fostering alignment to shareholders Proven Boar
Slide 20: Disclaimer
Disclaimer For personal use only • This presentation may contain forward looking statements that are subject to risk factors associated with oil and gas businesses. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables an