Metgasco Ltd · ASX:MEL
Metgasco — RIU Good Oil Conference 2009
22 slides from Metgasco's conference presentation, Sep 2, 2009
Slide 1: Developing gas and power supplies for East Coast markets
For personal use only Developing gas and power supplies for East Coast markets RIU Good Oil Conference 2-3 September 2009 David Johnson, Managing Director
Slide 2: Disclaimer
Disclaimer This presentation is being provided for the sole purpose of providing the recipients with background information about For personal use only Metgasco Ltd (Metgasco). No representation, express or implied, is made as to the fairness, accuracy, completeness or correctness of information con
Slide 3: Corporate overview
For personal use only Corporate overview
Slide 4: Corporate overview
Corporate overview Exploring and developing coal seam gas ASX listing Dec 2004 For personal use only (“CSG”) and conventional oil and gas in Clarence Moreton Basin (Northern NSW) ASX code MEL Multi-TCF scale CSG play with large Share price on 27 Aug 09 $0.435 established reserve base Market Cap
Slide 5: Acreage is close to markets & infrastructure
Acreage is close to markets & infrastructure Large acreage position in the Clarence For personal use only Moreton Basin in Northern NSW of nearly 6,000 km2 (gross) with operatorship Gross area (km2) PEL 16 1 830 PEL 13 2 1,652 PEL 426 2 2,448 Total 5,930 (1) In JV with CS Energy (2) In JV with Mol
Slide 6: Coal Seam Gas
For personal use only Coal Seam Gas
Slide 7: CSG – growing reserves
CSG – growing reserves For personal use only Large growing certified reserves 2P gas reserves of 264 PJ Opportunity for further reserve growth: – 2P reserves booked in 4 out of 11 blocks in PEL 16 – represents 5-10% of total acreage covered to date Reserves have been certified by Mr Tim Hower
Slide 8: Development of NSW CSG industry is following the same growth path as in Qld
Development of NSW CSG industry is following the same growth path as in Qld Current NSW CSG reserves (PJ) Metgasco share of NSW 2P reserves (PJ) 1 For personal use only Company share of NSW 3P reserves (PJ) 1 => 100% lit y 1P Reserves a bi ob Proven pr 50% g 2P Reserves sin ea cr Proven + Probable I
Slide 9: Metgasco is uniquely positioned in Clarence Moreton
Metgasco is uniquely positioned in Clarence Moreton Clarence Moreton is one of the most For personal use only underexplored basins on the East Coast of Australia In NSW, covers approx. 16,000 km² with about 10 conventional oil and gas exploration holes drilled CSG: – Walloon Coal Measures – sa
Slide 10: Successfully trialled horizontal drilling
Successfully trialled horizontal drilling For personal use only Metgasco is currently running a pilot testing program Lead pilot well (Corella-11) producing gas at 200,000 scf/day from a single lateral To date Corella-11 has produced 67m standard cubic feet of gas and 36,500 Flaring at Corella
Slide 11: Transitioning from exploration and appraisal stage towards field development
Transitioning from exploration and appraisal stage towards field development For personal use only 1P reserve certification of 2.7 PJ (proven, undeveloped) from Corella-11 was an important milestone Highlights the underlying value in Metgasco’s CSG acreage – demonstrated by pilot production – hi
Slide 12: Conventional gas
For personal use only Conventional gas
Slide 13: Kingfisher Field discovery
Kingfisher Field discovery Riflebird-E14 (RB14) well discovered a conventional gas field in May 2008 For personal use only Appraisal well – Kingfisher-E1 – will be drilled next month potential for up to 700 metres of additional section from two deeper zones – Gatton sandstone and Ripley Road f
Slide 14: Appraisal drilling starts next month
Appraisal drilling starts next month For personal use only Original gas in place (OGIP) estimated at 82 Bcf (P50) and 831 Bcf (P10) Small volumes of condensate have been obtained from Riflebird-E14 indicating the potential for an oil/liquids leg 14
Slide 15: Kingfisher located on a mid-basin high with several other drilling prospects
Kingfisher located on a mid-basin high with several other drilling prospects For personal use only PEL 16 - Leads and Prospects (OGIP ) Billion cubic feet Previously unknown mid-basin high has been identified by PMean P10 Metgasco Kingfisher 82 831 Large number of leads and Mackellar 63 688 pros
Slide 16: Paths to commercialisation
For personal use only Paths to commercialisation
Slide 17: Lions Way gas pipeline under development
Lions Way gas pipeline under development New high pressure gas pipeline to For personal use only connect Clarence Moreton gas fields in Northern NSW to customers in SE Qld – 145km pipeline starting in Casino (NSW) and finishing in Ipswich (Qld) – Environmental Assessment largely complete and will
Slide 18: Richmond Valley Power Station under development
Richmond Valley Power Station under development For personal use only 30MW gas fired power station located at Casino requiring 2.5PJ of gas pa Field development studies complete Environmental assessment lodged with NSW Dept of Planning on 11 August 2008 – waiting for development consent Powe
Slide 19: Outlook
For personal use only Outlook
Slide 20: Exploration and appraisal activities growing reserves
Exploration and appraisal activities growing reserves Activity Activity Purpose Purpose For personal use only Low cost vertical well with simple completion Recent activity Wyan-E1 (PEL 13) drilled in May 2009. Gas flows of 175,000 scfd Advance drilling of vertical offtake for next Riflebird-E15 (PEL
Slide 21: Development activities building paths to commercialisation
Development activities building paths to commercialisation Activity Purpose For personal use only Activity Development Development approval and FID of 30 MW Richmond Valley power station Complete Environmental Assessment on Lions Way pipeline Progress on Stratheden JV Progress other gas sale
Slide 22: In summary
In summary 2P gas reservesPurpose of 264 PJ (net) For personal use only Activity Growing gas Exploration and appraisal activities focused on growing reserves gas reserves – CSG and conventional Metgasco is well funded with $15m cash at 30 Jun 09 and no debt Development of NSW CSG industry is