Metgasco Ltd · ASX:MEL
Metgasco — Good Oil and Gas Energy Conference 2023
15 slides from Metgasco's conference presentation, Sep 6, 2023
Slide 1: Delivering 'Two' New Gas Sources to the Undersupplied East Coast Energy Market
Delivering ‘Two’ New Gas Sources to the Undersupplied East Coast Energy Market For personal use only Vali gas field Odin gas field GSA with AGL for up to 16 PJ, GSA with ENGIE/Mitsui JV 101 PJ (Gross) 2P reserves, 39.7 PJ (Gross) Contingent Resources, Metgasco share 25.2 PJ Metgasco share 9.55PJ Goo
Slide 2: Disclaimer / Reserves and Resource Notes / Glossary
Disclaimer / Reserves and Resource Notes / Glossary ▪ This presentation is being provided for the sole purpose of providing the recipients with background information about Metgasco Ltd (Metgasco) which is current only at the date of this presentation. No representation, express or implied, is made
Slide 3: Highlights – Two Gas Fields entering production in CY23
Highlights –Two Gas Fields entering production in CY23 ➢ Metgasco is an ASX listed (ASX:MEL) small cap oil and gas exploration and production company supplying gas to Eastern Australia domestic customers from the Cooper Basin For personal use only ➢ Metgasco has a 25% non-operated interest in the AT
Slide 4: Metgasco Business Transformation
Metgasco Business Transformation ➢ Since 2016 the company transformed by building an exploration/appraisal portfolio in onshore Cooper/Perth Basin and offshore GOM ➢ 100% exploration success in 4 Cooper wells building gas hub reserves/resources For personal use only ➢ First Vali gas production reven
Slide 5: Company Snapshot – East Coast Gas Producer
Company Snapshot – East Coast Gas Producer ➢ Metgasco’s Cooper Basin success building business revenue in 2023 ▪ A highly experienced team focused on creating shareholder value. Substantial shareholders & Board* https://www.metgasco.com.au/company/board-management/ Glennon Capital Pty Ltd 10.58% For
Slide 6: Cooper Basin Expansion – Hub and Spoke Strategy
Cooper Basin Expansion – Hub and Spoke Strategy ➢ Hub and Spoke strategy to build production revenue and shareholder value ➢ Cooper Basin: ATP 2021 and PRL 211 – Two gas fields producing by end September CY23 ➢ Allows low tie-in cost of any new gas discovery, increasing exploration well commercial F
Slide 7: ATP2021 - Farm-out to production in less than years
ATP2021 - Farm-out to production in less than 4 years ➢ Experienced Management team has delivered 4/4 successful Cooper Basin gas wells ➢ Commercialisation of Vali represents the culmination of a long process of value creation by Metgasco, from initial application for ATP2021, technical appraisal, f
Slide 8: PRL211 Farm-in deal catalyst to drilling Odin-1
PRL211 Farm-in deal catalyst to drilling Odin-1 ➢ Strathmount-1 tested gas in the Patchawarra Formation and Tirrawarra sandstone at RTSTM. ➢ Circa 50% of Odin structure was situated in PRL211 leading the ATP2021 JV to farm in, successfully drill and test Odin-1, then purchased a further gross 15% to
Slide 9: Undersupplied East Coast Australian Gas Market
Undersupplied East Coast Australian Gas Market ➢ Domestic Gas Shortfall – In July 2023, the Australian Competition & Consumer Commission (ACCC) released its latest interim update as part of the “Gas Inquiry 2017-2030”1. Post a drop in gas usage by electricity generators, the ACCC now predicts that t
Slide 10: Odin GSA/Significant uncontracted gas reserves at Vali
Odin GSA/Significant uncontracted gas reserves at Vali ➢ ENGIE foundation customer for Odin Gas and AGL for Vali gas ➢ Metgasco has uncontracted gas connected to, or close to, existing infrastructure For personal use only Odin Gas Supply Contract ODIN - 2C GROSS CONTINGENT RESOURCES* Odin GSA with E
Slide 11: Vali Gas Field – >100PJ for East Coast Markets
Vali Gas Field – >100PJ for East Coast Markets Overview Vali Reserves and Resources ➢ Total 2P gross reserves 101 PJ* ( MEL share 25.2PJ) Gross ATP 2021 Vali Gas Field Reserves* ➢ 3 wells completed and connected to Moomba 1P 2P 3P For personal use only system, commenced supply to AGL via Vali-1 Feb
Slide 12: PRL211 - GSA and Odin-1 fast tracked for production
PRL211 - GSA and Odin-1 fast tracked for production ➢ Odin-1 conventionally flowed 6.5MMscf/d at Odin-1 connection to Vali infrastructure 1823 psi FWHP from Epsilon and Toolachee reservoirs. For personal use only ➢ Gross 2C Contingent Resources of 39.7PJ* (9.55 PJ* net Metgasco). GSA with ENGIE/Mits
Slide 13: Approaching Events – Full Pipeline of News Flow
Approaching Events – Full Pipeline of News Flow ➢ Odin start-up to drive uplift in production and revenue generation. Reviewing multiple Hub exploration and production opportunities. Vali Project GSA signed with AGL for Vali gas sales to end-2026. Moomba CY22 For personal use only Gas / Tie-in Agree
Slide 14: Appendix – Summary Highlights
Appendix – Summary Highlights 1 Maiden Gas Production from Vali Gas Field in 2023 ▪ MEL commenced gas supply to Eastern Australia from the Vali field in February CY23, generating maiden revenue. ▪ ATP 2021 JV contracted to supply an estimated 9 to 16 PJ in period to end-2026, just 9-16% of current V
Slide 15: An East Coast Gas Producer - Contact us for further information
An East Coast Gas Producer - Contact us for further information For personal use only VALI & ODIN PRODUCTION HUB Ken Aitken | Managing Director Level 2, 30 Richardson Street, West Perth WA 6005 Main: +61 8 6245 0060