Australis Oil & Gas Ltd. · ASX:ATS
Australis Oil & Gas — Shareholder Meeting (May 2018)
28 slides from Australis Oil & Gas's shareholder meeting presentation, May 24, 2018
Slide 1: ASX Announcement: Company Presentation Material
For Immediate Release ASX Announcement For personal use only 24 May 2018 Company Presentation Material Please find attached to this document a copy of the presentation to be used by Australis Oil & Gas Limited today at its Annual General Meeting in Perth, Australia. For further information, please c
Slide 2: AGM Presentation
For personal use only Large undeveloped oil position provides the platform for significant value generation AGM Presentation 24 May 2018
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer For personal use only This presentation has been prepared by Australis Oil & Gas Limited ACN 609 262 937 (ASX: ATS) (Australis). Summary of information: This presentation contains general and background information about Australis’ activities current as at the date of
Slide 4: Australis Oil & Gas Overview
For personal use only Australis Oil & Gas Overview Tuscaloosa Marine Shale (TMS) Portugal Summary Appendix
Slide 5: Investment Highlights
Investment Highlights Positioned for significant value accretion For personal use only Largest acreage holder in the ‘core’ of the Tuscaloosa Marine Shale (TMS) Operator of Quality TMS oil production per well similar to the best areas within US shale such as Eagle Ford Assets Robust TMS produc
Slide 6: Corporate Overview – Australis Oil & Gas
Corporate Overview – Australis Oil & Gas Australis has existing reserves, production and revenue, no current debt and a strong institutionally For personal use only dominated register with significant capital contribution from Board & Management Founded in 2014 by the founders & key management of
Slide 7: Tuscaloosa Marine Shale (TMS)
For personal use only Australis Oil & Gas Overview Tuscaloosa Marine Shale (TMS) Portugal Summary Appendix
Slide 8: What is the TMS?
What is the TMS? The TMS is an emerging shale play. The “Core” is comparable with other prolific shale plays in the For personal use only US TMS Location Onshore basin - Louisiana and Mississippi On trend with Eagle Ford Basin in Texas, similar depositional history and age 80 horizontal wells
Slide 9: Australis TMS Well Performance
Australis TMS Well Performance The last 15 wells drilled within Australis’ core acreage demonstrate significantly higher average For personal use only productivity than the average of other TMS wells drilled in Mississippi Individual 24 Month Cumulative Production Per Well – TMS Mississippi4,5 Austr
Slide 10: TMS Core Type Curve
TMS Core Type Curve For personal use only ATS type curve history matched to production from the most recent 15 Mississippi ECA wells4 Total production per well initial 24 months (Mbbls) Production profiles 40,000 Produced volume (bbls) Lawson 25-13HA) 318 Longleaf 29H 2H 316 35,000 Mathis 29-17H 257
Slide 11: Australis TMS Land Position
Australis TMS Land Position Australis holds a dominant land position within the core of the TMS, with significant undeveloped oil For personal use only Australis TMS as at 31 December 2017 Australis TMS Position Reserves1 Net Oil 4 million bbls PDP US$80 million (NPV10) 1P Reserves 29 million bbls 2
Slide 12: Single Well Economics – NPV Sensitivities
Single Well Economics – NPV Sensitivities The TMS Core is highly profitable at current oil prices with incremental growth in value through For personal use only realistic productivity improvements against the 2014/15 average of all wells8 Single Well Economics and Sensitivities – NPV10 ($ in million
Slide 13: Pathway to Value
Pathway to Value TMS Core acreage has significant upside with multiple catalysts to create and increase value For personal use only Value Catalysts Growth Strategy Likely to continue to recover as the global Oil Price supply market rebalances Continued refinement in design based on GOAL practice
Slide 14: Initial Drilling Program
Initial Drilling Program Australis is planning to commence an initial program of 6 to 11 wells to commence in 2H 2018 For personal use only Sites have been identified for a drilling Single Well Drilling & Completion Summary program of 4 to 10 wells within the TMS core Commenced the process of pe
Slide 15: Austin Chalk Trend
Austin Chalk Trend Following recent EOG well results active trend to South West targeting Austin Chalk For personal use only Austin Chalk Trend EOG drilled the Eagles Ranch 14H-1 well during Q3 2017 Public data indicates a liquids rich production Well performance on par with Australis TMS type
Slide 16: Portugal
For personal use only Australis Oil & Gas Overview Tuscaloosa Marine Shale (TMS) Portugal Summary Appendix
Slide 17: Portugal Concessions Overview
Portugal Concessions Overview Australis owns two concessions onshore Portugal with significant development potential For personal use only Asset Highlights Asset Location Significant Gas Large in-place discovered and tested gas Resource accumulation with 2C resources of 458 Bcf2 Limited explorat
Slide 18: Summary
For personal use only Australis Oil & Gas Overview Tuscaloosa Marine Shale (TMS) Portugal Summary Appendix
Slide 19: Summary
Summary Successful implementation of corporate strategy positions Australis for significant value accretion For personal use only The recent improvement in oil price has transitioned the company to the next stage of our corporate strategy, with a focus to value demonstration Large strategic cont
Slide 20: Appendix
For personal use only Australis Oil & Gas Overview Tuscaloosa Marine Shale (TMS) Portugal Summary Appendix
Slide 21: Directors & Management
Directors & Management Demonstrated track record in oil & gas For personal use only Jon Stewart – Non-Executive Chairman Graham Dowland – CFO & Finance Director >25 years in the upstream oil and gas industry >25 years experience in the oil and gas industry Founder and former Chairman and CEO o
Slide 22: TMS Core Type Curve
TMS Core Type Curve Summary of monthly oil production data for the most recent 15 Encana operated modern offset For personal use only Mississippi wells Lewis 7- Pintard Lyons 35H Pintard Longleaf Longleaf Mathis Mathis Lawson Ash 13H Sabine Sabine McIntosh Reese Well Name Ash 13H 2 Average Cumulativ
Slide 23: Single Well TMS Core Type Curve
Single Well TMS Core Type Curve ATS type curve history matched to production from the most recent 15 Mississippi ECA wells For personal use only TMS Core TC – Assumptions TMS Core Type Curve v TMS Production 250,000 Oil EUR – 610 Mbbls Gas EUR – 159 MMscf 200,000 NGL EUR – 20 Mbbls Oil Product
Slide 24: TMS Base Case Economics – Key Assumptions
TMS Base Case Economics – Key Assumptions The production and opex assumptions are based on history and the capex costs are current third For personal use only party service providers’ estimates Base Case Assumptions* Production Forecast EUR (30 Years) 30,000 700,000 Gas 0.16 Bcf 25,000 600,000 Oil/C
Slide 25: Reserves and Resources Update
Reserves and Resources Update Maiden undeveloped reserve assessment1 For personal use only As an ASX participant Australis reports to the Net Oil Reserve Categories SPE PRMS. This requires that undeveloped (MMbbls) reserves are assessed within a 5 year development timeframe. Proved Developed Produ
Slide 26: Financing the Initial Drilling Program
Financing the Initial Drilling Program Possible terms relating to the debt financing alternatives For personal use only Based on ongoing discussions, Australis expects that the terms of potential debt financing alternatives under assessment, including any Norwegian bond, RBL and Term loan, might i
Slide 27: Footnotes
Footnotes For personal use only 1. All estimates and risk factors taken from Ryder Scott, report prepared as at 31 December 2017 and generated for the Australis concessions to SPE standards. See ASX announcement released on 30 January 2018 titled “Reserves and Resources Update Year End 2017”. The an
Slide 28: Glossary
Glossary Unit Measure Unit Measure For personal use only B Prefix - Billions bbl Barrel of oil MM or mm Prefix - Millions boe Barrel of oil equivalent (1bbl = 6 mscf) M or m Prefix - Thousands scf Standard cubic foot of gas /d Suffix - per day Bcf Billion standard cubic foot of gas Abbreviation Desc