Metgasco Ltd · ASX:MEL
Metgasco — Shareholder Meeting (November 2023)
13 slides from Metgasco's shareholder meeting presentation, Nov 28, 2023
Slide 1: Vali and Odin gas fields producing into the Undersupplied East Coast Energy Market
Vali and Odin gas fields producing into the Undersupplied East Coast Energy Market For personal use only Odin Field First Gas 14 September CY23 from Odin-1 Vali Field First Gas 21 February CY23 from Vali-1 AGM Presentation 28 November 2023
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 – Vali/Odin generating revenue in CY23
Highlights –Vali/Odin generating revenue 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 ATP2021
Slide 4: Summary of Asset Activities since CY2022 AGM
Summary of Asset Activities since CY2022 AGM Cooper Basin-ATP2021 Cooper Basin- PRL211 Vali Field Odin Field For personal use only • Q1CY22 • Safely and successfully installed pipeline and facilities • Completion of accelerated connection concept engineering • Vali field first gas production Tuesday
Slide 5: 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 – Odin and Vali Field generating solid revenue – circa $933k net sales revenue to end Sept 23. Strong revenue anticipated in Dec quarter For
Slide 6: 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 7: 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 Contracts ODIN - 2C GROSS CONTINGENT RESOURCES* Odin GSA’s wit
Slide 8: PRL211 – Odin Overview
PRL211 – Odin Overview ➢ Odin-1 has exhibited strong gas production performance to date. Production circa 5MMscfd ➢ Odin developed via accelerated connection via 1.4km fibrespar connection to Vali pipeline ➢ Gross 2C Contingent Resources of 39.7PJ* (9.55 PJ* net Metgasco). For personal use only ➢ Od
Slide 9: ATP2021 – Vali Overview
ATP2021 – Vali Overview ATP2021 Ongoing full Vali-1ST1 Appraisal Stimulate Construct & Appraisal Informed field Vali MEL Farm- discovery drilling Complete Commission Production work scale production down operation • First production on For personal use only • Jan 20 • April–June 21 • Apr to Sept 22
Slide 10: Approaching Events – Full Pipeline of News Flow
Approaching Events – Full Pipeline of News Flow ➢ Odin start-up has provided a significant uplift in production and revenue generation. Improving Vali production via Vali-2 water shut-off is imminent. Odin appraisal drilling planning underway. Odin Gas Sale Agreements First Odin GSA with ENGIE/Mitsu
Slide 11: Update on $5 Million debt facility (Loan note deed)
Update on $5 Million debt facility (Loan note deed) ➢ 13 March - secured $5M debt facility via Keybridge Capital (Keybridge) For personal use only and Glennon Small Companies (Glennon) to fund Vali and Odin projects into production ➢ Keybridge is presently failing to meet its financial obligations u
Slide 12: Appendix – Summary Highlights
Appendix – Summary Highlights Maiden Gas Production from Vali Gas Field in 2023 1 ▪ MEL commenced gas supply to Eastern Australia from the Vali field on 21 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 curren
Slide 13: 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