Snapshot AWE Limited is an Australian listed oil and gas company Successful track record since listing in 1997 Market Capitalisation of US1.3 billion Focus on rocks and fluids Exploration is key growth engine Production…
History Strategy unchanged through the recent crisis Invest across cycle Strong balance sheet, US266 m cash and US135 m undrawn debt Head office in Sydney, with operational and scouting offices in Perth, New Plymouth (NZ)…
Background 4.50 4.00 AWE share price since IPO 3.50 3.00 2.50 2.00 1. 5 0 1. 0 0 0.50 0.00 J ul - 9 7 J ul - 9 8 J ul - 9 9 J ul - 0 0 J ul - 0 1 J ul - 0 2 J ul - 0 3 J ul - 0 4 J ul - 0 5 J ul - 0 6 J…
2010 interim results 6 months to Dec 2008 Dec 2009 Change Production (million BOE) 4.64 3.32 -28% Sales revenue (A million) 392.1 189.6 -52% EBITDAX 331.7 129.1 -61% Pre tax profit 183.1 42.0 -77% NPAT 96.1 17.3 -82% Net…
Key factors in the results 6 Fall in oil prices: A115 (2008), A82 (2009) Fixed costs Reduced oil production Tax and royalty provisions 6
Strong balance sheet and cash to fund exploration and acquisitions 7
Developed reserves support long term cash flow Strong cash flow past 2020 8
Near-field opportunities support production base 9
Tui Fields AWE discovery FPSO development in 15 months Original 2P reserves 50 2010 million barrels drilling 26 million barrels produced in 30 months 10
BassGas AWE 57.5% 11
Otway Long term developed gas production AWE 25% Exploration potential 12
Perth Basin 13
Delivering on Strategy 14
Vision Exploration is the key growth engine Deliver base business Near-field opportunities to deliver reserves replacement Exploration and selective acquisition for growth 15
Exploration 16
Exploration Multiple opportunities for success this year and for future Current program is potentially transformational Any single success could be significant Up to A175 million program in FY2010 Drilling 4 countries and 5…
Initial exploration success in the Bass Basin and increased equity from 42.5% to 57.5% in key development 18
Taranaki Basin NZ AWE holds commanding position North Cape oil play Hoki-1 drilling March 250 million barrel resource potential four follow up prospects Moki oil play Tuatara-1 subject to approvals, including environmental 100…
North Cape oil play Hoki-1 will test this new play Multiple follow up prospects AWE already holds the follow up potential 20
Indonesia: East Java acreage position emerging Pinnacle Reef oil play Offsetting Kodeco development Liyun-1 drilling in June quarter 75 million barrel target Follow up exploration targets Includes AWE as operator Joint Study…
Kujung pinnacle and coalesced reef trend in Bulu and Terumbu blocks Kujung pinnacle reefs Kujung coalesced reefs 22
Yemen Fractured basement play Drilling now. Shows reported Testing shortly Resource potential 25 million barrels 23
and AWE is pursuing shale gas in the Perth basin AWE acreage contains three shale plays Kockatea Carynginia Irwin River Coal Measures Target shales up to 300m thick Strong WA gas market, LNG netback pricing Extensive acreage,…
Summary Strong base business performance Outstanding cash and balance sheet Increased equity in Bass Basin Exploration program has given some early success Big potential remaining in program Shale gas initiative launched…
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