Galilee Energy Limited · ASX:GLL
Galilee Energy — Shareholder Meeting (November 2020)
16 slides from Galilee Energy's shareholder meeting presentation, Nov 24, 2020
Slide 1: Annual General Meeting 2020
Annual General Meeting 2020 Managing Director’s Presentation 24 November 2020 ASX: GLL
Slide 2: Galilee at a glance
Galilee at a glance Directors Corporate Information Share Price Ray Shorrocks 1.00 Non-Executive 0.80 Chairman 0.60 Peter Lansom Share Price A$0.62 0.40 Managing Director 0.20 No of Shares 295M 0.00 2020 Dr. David King Non-Executive Director Market Cap A$183M Project Portfolio Stephen Kelemen Cash A
Slide 3: A year of achievements
A year of achievements • Very active year with nine wells drilled during 2020. Continuation of our 100% safety and environmental record with minimal disruption to operations as a result of COVID-19 due to pro-active early response. • Significant new reservoir learnings gained at the Glenaras Gas Pro
Slide 4: Key Investment Themes
Key Investment Themes Major Gas Well Market Demand Significant Low Cost Resource Capitalised For Gas Upside Development Material Galilee is well Market Galilee has an Staged Contingent funded to structurally extensive development Gas Resource convert short and portfolio of at Glenaras in the Galilee
Slide 5: Australian East Coast Dynamics
Australian East Coast Dynamics Structurally short gas market - tightening supply • East coast gas market was requiring new gas developments transformed with the advent of the three LNG projects in Queensland • Convergence between domestic gas prices and LNG export prices. • Production from existing
Slide 6: Glenaras Gas Project - The Asset
Glenaras Gas Project - The Asset • Over $100 million spent to date. • Clearly defined resource – twenty exploration wells, 700km of seismic & three multi well pilots. • Existing assets - large $6M water storage facility (450 ML) & production gathering & flare. • Expenditure has advanced the Project
Slide 7: Glenaras Gas Project – The Asset
Glenaras Gas Project – The Asset • Flat, open grazing country with large scale holdings of 50,000+ acres. • Expected low field development costs: - Gas composition is sales spec with no processing required. - Low salinity water - minimal treatment cost. • Strong stakeholder relationships: - Less tha
Slide 8: Glenaras Gas Project – CSG Properties
Glenaras Gas Project – CSG Properties Depth Successful CSG projects require three 900m – 1000m key parameters R1 Net Coal Coal 19m Permeability 1 Resource concentration (thickness, gas content) Gas Content Barrier Water bearing units 5.3m3/t 2 Productivity (thickness, permeability) Permeability R2 R
Slide 9: Glenaras Gas Project – Enhanced Pilot
Glenaras Gas Project High productivity and pressure drawdown – a strong indicator – Enhanced Pilot for robust field economics • Pilot continuing to produce strongly, achieving a significant pressure sink in the Pilot area – c 85% toward critical desorption. • Glenaras 17A well provided breakthrough
Slide 10: Pilot enhancement programme
Pilot enhancement New perimeter vertical well locations programme • Five new vertical wells have been drilled around the existing pilot and completed over the full Betts Creek section. • These new wells, plus Glenaras 17A, will provide perimeter shielding and accelerate pressure depletion to achieve
Slide 11: Future Exploration Potential
Exploration Future Appraisal & reservoir characterisation Exploration Potential • Important to appreciate the scale of the permit area Muttaburra 2 Mount • ~4,000km2 in area and… Myth 1 Acacia • …over 80 km N-S and 70km E-W. North Vera Park / (50+ PJ) Mount Myth • The majority of the permit area has
Slide 12: Bowen Basin – Springsure Gas Project
Bowen Basin – Springsure Gas Project • 1,425km2 of highly prospective exploration acreage - Denison Trough region: • Multiple coal seam gas and stacked conventional gas targets; • Primary CSG target is on-trend with analogous Reids Dome Project, which is currently testing at ~500Mcfd. • Excellent lo
Slide 13: Surat Basin – Kumbarilla Gas Project
Surat Basin – Kumbarilla Gas Project • 384km2 of high-value exploration acreage targeting both coal seam gas and conventional oil and gas. • Close proximity to top tier production assets. • Existing pipeline tie-ins less than 10km. • The nearby Ironbark CSG field - purchased by APLNG in 2019 for $23
Slide 14: Summary
Summary Focus on high growth Experienced Structurally short east coast gas management team gas market Glenaras Project producing Board bolstered recently. High East coast gas market tightening, strongly and remains the key quality people in place at Board gas prices rising again and focus. Identifie
Slide 15: Disclaimer
Disclaimer 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 and changes in underlying
Slide 16: galilee-energy.com.au
REGISTERED OFFICE Level 6, 167 Eagle Street, Brisbane QLD 4000 GPO Box 1944 Brisbane QLD 4001 Phone: +61 7 3177 9970 Email: admin@galilee-energy.com.au galilee-energy.com.au 16