Karoon Energy Ltd · ASX:KAR
Karoon Energy — Karoon Gas Australia — Shareholder Meeting (August 2008)
23 slides from Karoon Energy's shareholder meeting presentation, Aug 1, 2008
Slide 1: Karoon Gas Australia Ltd Review
For personal use only Karoon Gas Australia LTD August 2008 Review
Slide 2: Disclaimer
Karoon Gas Australia limited Disclaimer For personal use only This presentation contains 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 vari
Slide 3: Karoon Gas snapshot
Karoon Gas Australia limited Karoon Gas snapshot For personal use only • Approximately 132 million shares (146 million with EGM approval) and 8 million options. • Market capitalisation approximately A$460 million @A$3.50 (A$510 million with EGM approval) • Cash in bank A$70 million (A$117 million wi
Slide 4: Investor groups and share price 2004-2008
Karoon Gas Australia limited Karoon investor groups For personal use only Related Parties 13% Public investors 37% 17% Institutions 33% Private investors Karoon share price (2004 - 2008) A$ 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 June 2004 June 2006 June 2008 Time
Slide 5: Karoon's key personnel
Karoon Gas Australia limited Karoon Gas Australia’s key personnel For personal use only Board Technical Robert Hosking Executive Chairman Lino Barro Engineering Manager Founding Director of Karoon Gas with 30 years of 28 years’ experience in reservoir and development commercial experience. Involved
Slide 6: Browse Basin map area
Karoon Gas Australia limited Map area Darwin Browse Basin For personal use only GRACE P50 12tcf WA-314-P & WA-315-P Abalone 1 Karoon 49% KON-TIKI ConocoPhillips 51% P50 7tcf Argus Gas/condensate ARGUS Phrixus 1 field 2tcf ? WA-314-P POSEIDON WA-315-P P50 7tcf Woodside plans to Maginnis 1A Inpex plan
Slide 7: Browse Basin prospects and permits
Karoon Gas Australia limited GRACE P50 12tcf For personal use only Argus Gas/condensate field 2tcf ? WA-314-P & WA-315-P Abalone 1 Karoon 49% KON-TIKI ConocoPhillips 51% P50 7tcf Phrixus 1 ARGUS WA-314-P Woodside plans to spend US$20 billion on POSEIDON LNG development WA-315-P P50 7tcf (Woodside pu
Slide 8: WA Fields Reserves v. Karoon's Exploration Prospects
Karoon Gas Australia limited Darwin Comparisons Map area For personal use only WA Fields Reserves v. Karoon’s Exploration Prospects Perth WOODSIDE’S NORTHWEST SHELF PROJECT Allowing for some exploration failure, there is potential in the Karoon acreage for the discovery of reserves of similar magnit
Slide 9: Farm-out
Karoon Gas Australia limited Farm-out For personal use only Karoon Gas Australia Ltd has entered into agreements to farm out up to a 60% interest in its Browse Basin permits, WA‑314‑P and WA‑315‑P, to the ConocoPhillips. Acquisition of 51% Interest Option to Increase Interest to 60% ConocoPhillips w
Slide 10: Schematic: LNG/condensate/LPG development model
Karoon Gas Australia limited Schematic For personal use only KAROON LNG/CONDENSATE/LPG DEVELOPMENT MODEL ECONOMICS (7 TCF RESERVE CASES) Field development, pipeline and LNG facilities schematic (onshore LNG option) Gas/liquid separation Refrigeration Gas dehydration Storage Gas/liquid fractionation
Slide 11: Combined net cash flow
Karoon Gas Australia limited Combined net cash flow For personal use only KAROON LNG/CONDENSATE/LPG DEVELOPMENT MODEL ECONOMICS Net cash flow for combined offshore liquids removal and onshore LNG – 100% Share 4000 PRRT begins 3000 2000 Exploration & Appraisal Net cash flow (US$million) 1000 0 –1000
Slide 12: Capex profile
Karoon Gas Australia limited Capex profile For personal use only KAROON LNG/CONDENSATE/LPG DEVELOPMENT MODEL ECONOMICS Karoon 40% share – 2007 US dollars 1800 1600 CAPEX (US$million – 2007) Karoon share 1400 1200 1000 800 600 Karoon 20% only for 2 appraisal wells 400 Karoon 20% only 200 0 2007 2008
Slide 13: Product revenues
Karoon Gas Australia limited Product revenues For personal use only KAROON LNG/CONDENSATE/LPG DEVELOPMENT MODEL ECONOMICS Product revenues for combined offshore liquids removal and onshore LNG – 100% Share 6000 5000 Product Revenues (US$million) 4000 3000 2000 1000 0 2007 2008 2009 2010 2011 2012 20
Slide 14: The journey – taking the steps
Karoon Gas Australia limited The journey – taking the steps For personal use only • 2015? – First liquids and LNG to market, project NPV US$5 billion (Basis 7TCF) • Possible LNG project sanction • 2009 – Exploration then appraisal drilling • 2008 – Contracted Sedco 703 rig to drill 3 wells approx fo
Slide 15: AC/P8
Karoon Gas Australia limited AC/P8 For personal use only Abadi Location: Close to the Laminaria/ timor Sunrise/Sunset Corallina production facility with Troubadour Evans Shoal Barossa production tie in potential. Kelp Caldita AC/P8 Corallina KudaJahalTasi Chuditch Potential: Main prospect ‘Jania’ wi
Slide 16: AC/P8 Jania Prospect
Karoon Gas Australia limited AC/P8 Jania Prospect For personal use only Top Laminaria Formation Depth Structure Front = Full_final_migd•vt Jania Top Jamieson Top Echuca Shoals 2km Jania Jania Laminaria and Plover Formation reservoir sealed by Frigate, Flamingo and Top Frigate Echuca Shoals Formation
Slide 17: South American Assets
Karoon Gas Australia limited South American Assets For personal use only • Karoon is securing high quality assets in South America in basins that by world standards are relatively under explored and have had limited exposure to the latest industry exploration technology. • Increasing political stabi
Slide 18: Brasil Santos Basin
Karoon Gas Australia limited Brasil Santos Basin For personal use only Location: On trend with Caravella / sao paulo Merluza fields. Potential: 3 main leads with 100 to OGX listed in Brazil with a market cap of US$20billion raising US$3 200mmbl oil and/or multi TCF of gas billion. OGX has 21 blocks
Slide 19: Santos acreage: Santonian play
Karoon Gas Australia limited Karoon Santos acreage For personal use only Santonian Play Summary. The salt related structural style in Santonian Reservoirs the Santos Basin creates large scale structures in Karoon’s acreage where high quality Santonian reservoirs are interpreted to be present. The oi
Slide 20: Santos acreage: Eocene play
Karoon Gas Australia limited Karoon Santos acreage For personal use only Eocene Play Summary. 1-SPS-56 Eocene discovery Preliminary analyses; Oil’s specific gravity is 36 ºAPI (light). Lined well production test at 2080m Eocene proved high flows with potential amplitude anomalies production, per wel
Slide 21: Peru Tumbes Basin Z38
Karoon Gas Australia limited Peru Tumbes Basin Z38 For personal use only Location: Offshore Peru close to producing fields and discoveries. Shell farmin to BPZ block Z1 Potential: 2 main leads with 100 to $300million work program Armistad mach 200mmbl oil or multi Tcf gas prospective resources poten
Slide 22: Peru Tumbes Basin Z38 seismic line
Karoon Gas Australia limited Peru Tumbes Basin Z38 For personal use only Seismic line example. Clear gas DHI’s with flatspot and structural fit with amplitude ratio updip to downdip of around 5 to 10 times. 22
Slide 23: Conclusions
Karoon Gas Australia limited Conclusions For personal use only Australia • Karoon has grown rapidly in the last four years, evolving into a company with a a world class acreage position in the Browse Basin with a world class LNG operator in ConocoPhillips, already established with LNG production fac
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