Bounty Oil & Gas Nl · ASX:BUY
Bounty Oil & Gas Nl — Shareholder Meeting (November 2019)
16 slides from Bounty Oil & Gas Nl's shareholder meeting presentation, Nov 28, 2019
Slide 1: Bounty Oil and Gas NL Annual General Meeting
Bounty Oil and Gas NL Annual General Meeting November 28, 2019 CEO Presentation ASX Code: BUY Philip Kelso - CEO Drilling Cooper Basin QLD
Slide 2: Disclaimer/Competent Person
Disclaimer/Competent Person This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables which could
Slide 3: ASX Listing Rules – Chapter 5 Reserves and Resources
ASX Listing Rules – Chapter 5 Reserves and Resources ASX LISTING RULES 5.25 – 5.45 • All Bounty Oil & Gas NL (Bounty) petroleum Reserves and Resources assessments follow guidelines set forth by the Society of Petroleum Engineers – Petroleum Resource Management System (SPE-PRMS). Bounty is compliant
Slide 4: 2018/19 Highlights
2018/19 Highlights Corporate • Petroleum Revenue up 130% to $3.66 million (2018 $1.57 million) • Operating profit of $1.12 million before non-cash expenses • Average price received A$106/bbl Production • Gross Production 39,792 barrels • Downlands gas field licence renewed, operations underway to re
Slide 5: BUY Revenue A$ MM
Corporate Bounty Gross Petroleum Revenue against Oil Price Cost reduction and 4.000 120.00 spending on development 3.500 has kept Bounty in front of Brent Crude Spot FOB Europe $US 100.00 3.000 weakening prices. BUY Revenue A$ MM 80.00 2.500 2.000 60.00 1.500 40.00 1.000 20.00 0.500 - 0.00 2010 2011
Slide 6: Production
Production Increasing oil production has generated record revenue 6
Slide 7: Naccowlah – 2018/19 Hugely Successful Drilling Campaign
Naccowlah – 2018/19 Hugely Successful Drilling Campaign • 13 Wells – 79% success • Production tripled at peak • Efforts concentrated in two areas • 2020 Programme up to 11 new wells Well Type Current Status Watkins 2 Appraisal Producing Watkins 3 Appraisal Producing Watkins 4 Appraisal Producing Wat
Slide 8: Cooroo – Jarrar Area Drilling
Cooroo – Jarrar Area Drilling • Extended both Jarrar and Cooroo Fields and opened up both development and appraisal sites for further drilling. • Somewhere in the order of 7 – 12 additional well sites possible depending on results 8 • New Field discovery at Wallis 1
Slide 9: Watson Watkins Area
Watson Watkins Area • Watkins Field is the major success of the 2019 campaign with individual wells coming online at 1000’s of bopd. • At peak production this year Watkins Field was delivering 100 bopd net to Bounty • Watson North drilling was also successful. The target Westbourne Formation reservo
Slide 10: Lessons From Cooper Drilling
Lessons From Cooper Drilling • Recent successes at – Wallis, Watson North and Irtalie East were from structures previously drilled using 2D seismic with uncertain success, but turned out to be significant accumulations when targeted by 3D seismic. • Previously discovered fields such as Watkins, Jarr
Slide 11: Surat Basin - Queensland
Surat Basin - Queensland Downlands - Work Flow appraising one million boe targets 1. Licence Renewed 2. Bring gas back online as a production test 3. Test Downlands 3 in oil leg 4. Appraise oil leg & Spring Grove PL 2 – Alton, ATP 2028 appraising and evaluating combined 860 kbbl targets 1. Return Al
Slide 12: Downlands
Downlands • Downlands was shut in in 2010 as the export pipeline was re-purposed to gas storage • At shut down the field was averaging 250,000 cfg/d and ~ 3bopd of liquids. In all around 50 boepd. • Current operations – compliance audits and re-opening facilities and bringing gas well back on-line •
Slide 13: Downlands Plant
Downlands Plant 13
Slide 14: Alton Area
Alton Area • As well as returning wells to production with Alton Field an estimated 48 kbbl of oil recoverable there are areas of unswept oil and Attic oil which could offer another 168 kbbl • Priority is to get Wells back on line Alton Area Southern Surat • Further work will benefit from 3D seismic
Slide 15: Production and Development 2020/21
Production and Development 2020/21 • Naccowlah - Successful oil development to be continued in 2020 • Downlands - back in production and working on a potential 1 MMbo targets • Alton Field – bring back on line to produce around 48,000 bbls and drill attic oil to appraise another 168,000 bbls. • PL 2
Slide 16: PEP 11
PEP 11 16 • Planning to Drill defined targets over Greater Fish/Baleen
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