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ANNUAL GENERAL MEETING – Awe Limited

Awe Limited · Nov 18, 2010 · 46 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. ANNUAL GENERAL MEETING – Awe Limited – slide 1
    Annual General Meeting 18 November 2010
  2. ANNUAL GENERAL MEETING – Awe Limited – slide 2
    Welcome 2
  3. ANNUAL GENERAL MEETING – Awe Limited – slide 3
    Directors Bruce McKay Bruce Wood Bruce Phillips David McEvoy Andy Hogendijk Ken Williams Nick Jukes Vijoleta Braach- Maksvytis 3
  4. ANNUAL GENERAL MEETING – Awe Limited – slide 4
    Todays formal business Notice of Meeting Accounts and Reports Chairmans report Managing Directors report Questions Remuneration Report Election of Directors Removal of Auditor Appointment of Auditor Other Business Closure 4
  5. ANNUAL GENERAL MEETING – Awe Limited – slide 5
    Formal business Accounts and Reports Chairmans Report 5
  6. ANNUAL GENERAL MEETING – Awe Limited – slide 6
    Chairmans Report Valuable producing assets Respected operations Positive long term cash flow Conventional oil and gas focus Encouraging extension into unconventional Board succession and renewal AWE people/team New Managing…
  7. ANNUAL GENERAL MEETING – Awe Limited – slide 7
    Reserves have grown again 120 57 100 Million barrels oil equivalent 80 6.3 6.1 10.2 134.9 60 3.6 2.2 40 77.9 68.9 71.6 20 0 2P 2010 Writedowns Discovery Bass Gas 2P Adelphi US AWE 2P Contingent 2P + Reserves…
  8. ANNUAL GENERAL MEETING – Awe Limited – slide 8
    Key factors in the results FY2010: Underlying profit components 400 350 300 129 250 AU millions 200 354 113 150 226 100 94 50 0 42 -21 -24 -29 8 25 20 -50 -100 8
  9. ANNUAL GENERAL MEETING – Awe Limited – slide 9
    September Quarter Update Pateke workover completed Adelphi: takeover completed with strong reserves reported Board renewal process completed Yemen drilling continued, with encouragement Shale gas upside now understood AWE net…
  10. ANNUAL GENERAL MEETING – Awe Limited – slide 10
    Formal business Accounts and Reports Chairmans Report 10
  11. ANNUAL GENERAL MEETING – Awe Limited – slide 11
    Formal business Accounts and Reports Managing Directors Report 11
  12. ANNUAL GENERAL MEETING – Awe Limited – slide 12
    Summary FY10 exploration disappointed but base business continues to perform More than supports current share price Balance sheet remains solid 75 million cash and no debt (30th Sept 2010) Oil and gas reserves grew to 71.6…
  13. ANNUAL GENERAL MEETING – Awe Limited – slide 13
    Base business Lang Lang gas plant Umuroa, Taranaki Basin, New Zealand Yolla platform, Bass Basin Cliff Head oil platform, Offshore Perth Basin Pipe lay at Casino, Otway Basin Oil pump at Dongara, Onshore Perth Basin 13
  14. ANNUAL GENERAL MEETING – Awe Limited – slide 14
    Balance sheet remains strong FY2010 cash 600 Cash Investments 500 149 Exploration 206 192 42 Development 400 98 BassGas acquisition millions 47 300 12 Adelphi acquisition (part) 54 3 200 98 344 12 3 11 100 135…
  15. ANNUAL GENERAL MEETING – Awe Limited – slide 15
    Sustainability Continued strong performance by AWE Expansion of reporting performance over past 3 years CDP & NGERs participation in 2010 Commitment to community involvement and youth support in NZ 4 LTIs for 2 years Further…
  16. ANNUAL GENERAL MEETING – Awe Limited – slide 16
    Reserves grew Contingent resources for future development 120 Shale gas 57 Tui 100 is already Million barrels oil equivalent contributing Perth 80 Basin 6.3 6.1 10.2 134.9 Bass Gas 60 3.6 2.2 Otway Basin 40 77.9…
  17. ANNUAL GENERAL MEETING – Awe Limited – slide 17
    Contingent resources TREFOIL LENGO Bass Basin, Victoria East Java Basin, Indonesia 17
  18. ANNUAL GENERAL MEETING – Awe Limited – slide 18
    Adelphi acquisition launched AWE into shale gas Reserves to be booked in 2010/11 from independent reserves certification Results to date very encouraging Aggressive drilling program over next two years Drilling operations at…
  19. ANNUAL GENERAL MEETING – Awe Limited – slide 19
    And now Perth Basin Perth Basin connected by under utilised pipeline to Perth gas market Strong predicted demand growth in WA gas market Key Australian gas market Price will support shale gas development million Predicted WA…
  20. ANNUAL GENERAL MEETING – Awe Limited – slide 20
    And infrastructure is in place To allow rapid commercialisation 20
  21. ANNUAL GENERAL MEETING – Awe Limited – slide 21
    The identified resource is large.and growing 1 million acres (gross) position IRCM Target Area 3 shale plays identified The Carynginia The Kockatea The Irwin River Coal 13 to 20 tcf gas in place identified in Carynginia Kockatea…
  22. ANNUAL GENERAL MEETING – Awe Limited – slide 22
    AWE has already identified 13 to 20 tcf of gas in place so far Detailed technical work completed so far W E Five cores were cut and evaluated the potential of the Carynginia Shale in Woodada deep well Potential target zone…
  23. ANNUAL GENERAL MEETING – Awe Limited – slide 23
    Shale gas is a new opportunity for Australia AWE leads Australia in shale gas Potential to change company Premium gas market critical Fracture Stimulation Equipment (frac spread) Horizontal wells 23
  24. ANNUAL GENERAL MEETING – Awe Limited – slide 24
    Thank you 24
  25. ANNUAL GENERAL MEETING – Awe Limited – slide 25
    Formal business Accounts and Reports Questions 26
  26. ANNUAL GENERAL MEETING – Awe Limited – slide 26
    Formal business Remuneration Report 27
  27. ANNUAL GENERAL MEETING – Awe Limited – slide 27
    Remuneration report Proxies for 247,292,453 Proxies against 6,279,233 Proxies undirected 3,499,078 Proxies abstained 2,975,302 28
  28. ANNUAL GENERAL MEETING – Awe Limited – slide 28
    Formal business Election of Directors 29
  29. ANNUAL GENERAL MEETING – Awe Limited – slide 29
    Re-election of Andy Hogendijk 30
  30. ANNUAL GENERAL MEETING – Awe Limited – slide 30
    Re-election of Andy Hogendijk Proxies for 251,512,778 Proxies against 2,845,136 Proxies undirected 3,521,306 Proxies abstained 2,166,846 31
  31. ANNUAL GENERAL MEETING – Awe Limited – slide 31
    Election of Nick Jukes 32
  32. ANNUAL GENERAL MEETING – Awe Limited – slide 32
    Election of Nick Jukes Proxies for 253,638,118 Proxies against 670,213 Proxies undirected 3,537,524 Proxies abstained 2,200,211 33
  33. ANNUAL GENERAL MEETING – Awe Limited – slide 33
    Election of Dr Vijoleta Braach-Maksvytis 34
  34. ANNUAL GENERAL MEETING – Awe Limited – slide 34
    Election of Dr Vijoleta Braach-Maksvytis Proxies for 253,551,424 Proxies against 736,185 Proxies undirected 3,543,178 Proxies abstained 2,215,279 35
  35. ANNUAL GENERAL MEETING – Awe Limited – slide 35
    Formal business Removal of Auditor 36
  36. ANNUAL GENERAL MEETING – Awe Limited – slide 36
    Removal of KPMG as the Companys auditor Proxies for 250,868,460 Proxies against 2,418,493 Proxies undirected 3,578,372 Proxies abstained 3,180,741 37
  37. ANNUAL GENERAL MEETING – Awe Limited – slide 37
    Formal business Appointment of Auditor 38
  38. ANNUAL GENERAL MEETING – Awe Limited – slide 38
    Appointment of Ernst and Young as the Companys auditor Proxies for 250,864,849 Proxies against 2,438,817 Proxies undirected 3,566,179 Proxies abstained 3,173,221 39
  39. ANNUAL GENERAL MEETING – Awe Limited – slide 39
    Formal business Other business 40
  40. ANNUAL GENERAL MEETING – Awe Limited – slide 40
    Formal business AWE future strategy and direction 41
  41. ANNUAL GENERAL MEETING – Awe Limited – slide 41
    AWE Forward Strategy In the long term, the conventional oil & gas E&P company is under pressure on several fronts: (a) Profitability Fewer discoveries Smaller fields Increased development costs Offset by increasing oil and gas…
  42. ANNUAL GENERAL MEETING – Awe Limited – slide 42
    AWE Forward Strategy To emerge as an energy company, AWE will pursue a 3-pronged strategy to deliver superior TSR: 1. Grow our conventional upstream activities Oil & gas E&P (eg BassGas, Tui, Casino, Cliff Head, etc) Will continue as…
  43. ANNUAL GENERAL MEETING – Awe Limited – slide 43
    AWE Forward Strategy In the future, AWE will be characterised by: Emergence as an energy company rather than just a conventional oil & gas E&P company Continued strong focus on shareholder returns Emphasis on financial discipline &…
  44. ANNUAL GENERAL MEETING – Awe Limited – slide 44
    AWE Forward Strategy AWE is in a strong position to meet the challenges & exploit the opportunities of the future. Very good financial position. As at September 30, net cash of 75m, no debt, and strong future cash flows (on current…
  45. ANNUAL GENERAL MEETING – Awe Limited – slide 45
    For information Download and view AGM presentation at www.awexplore.com 46
  46. ANNUAL GENERAL MEETING – Awe Limited – slide 46
    AWE thanks you for your attendance today 47

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