Delivering growth from cornerstone projects Bruce Clement, Managing Director Citi Investment Conference, Sydney 15 October 2014
Agenda Overview Growth Strategy Cornerstone Projects Outlook 3
About AWE Limited Australian energy company focused on upstream oil and gas and related energy opportunities Strategy focused on Oil, High Value Gas, and Unconventionals Portfolio of production, exploration and development assets…
Performance overview FY2013-14 Total Production 5.6 million BOE, up 13% Sales Revenue 328.2 million, up 9% Field EBITDAX 208.8 million, up 13% Statutory NPAT * 62.5 million, up 213% Net Cash 42 million Undrawn facilities 300…
AWE delivers foundations for growth Strong operating performance and financial results achieved in FY2013-14 Proactive management of portfolio of quality production, development and exploration assets Technical and commercial…
HSE focus achieving positive results AWE Operated 12 Month Rolling Average Performance Indicators 10.0 AWE Lost Time Injuries per million man hours 9.0 Injury Frequency 8.0 7.0 6.0 AWE Total Recordable Case 5.0 Frequency…
More than 16 years of 2P production* Note: Excludes 2C Resources for Senecio gas field upgrade and newly discovered Waitsia gas field, announced in September 2014 * Based on FY2013-4 total annual production of 5.6 million…
Growth Strategy
Growing presence in high value markets 10
Strategy built on three core platforms 11
Delivering growth from cornerstone projects AAL oil project development Perth Basin gas development Pateke tie-in to boost Tui production BassGas development wells to Sugarloaf access accelerated significant drilling and…
Forecast production outlook Achieve target of 10 mmboe by 2018 Note: As at 30 June 2014, based on Brent Oil price of US100 per bbl, illustrative model only and not formal company guidance. Production Variance refers to…
Cornerstone Projects
More growth potential at Sugarloaf Sugarloaf AMI, Texas, USA Production from Sugarloaf up 31% in FY2013-14 2P + 2C increased by 82% following independent review As at 30 June, total of 128 wells in production - may drill up to 45 new…
BassGas MLE development Achieved FID for 2 development wells in summer of 2014-15 Jack up rig, West Telesto, contracted Capex estimate of 213 million gross (net 75 million to AWE at 35%*) Opportunity to accelerate remaining stages…
Good progress in Indonesia Ande Ande Lumut Oil Project Wellhead platform FEED nearing completion Revised FPSO tender process to commence in 2H CY2014 FID planned for mid-2015, targeting first oil in late 2017 JV considering G-Sand…
Exciting new gas discovery in Perth Basin Waitsia field potentially the largest conventional onshore gas discovery in WA since 1960s 18
Early conventional development opportunity Senecio-3 confirmed viability of Senecio field development of Dongara/Wagina reservoir Substantial new conventional gas discovery in deeper Kingia/High Cliff Sandstone - Waitsia gas field…
Senecio and Waitsia initial volumes Table 1. Initial gross 2C Contingent Resources estimates for the Senecio and Waitsia Fields Field Reservoir Interval Original Gas in Place (Bcf) Recoverable (Bcf) P90 P50 P10 P90 P50 P10 Senecio…
Senecio-3 well stratigraphy 21
A new cornerstone growth asset for AWE Perth Basin has existing production, infrastructure and markets Multiple plays conventional and tight gas sandstones, oil and gas shales o New Waitsia discovery is a potential conventional gas…
Outlook
Looking ahead in the Perth Basin Q3 2014 Q4 2014 Q1 2015 Q2 2015 Drover-1 Core and data analysis Hydraulic stimulation (1 week) Senecio-3 Drill Flow test Analysis Irwin-1 Preparations Drilling Senecio/Waitsia Preparations…
Looking ahead near term catalysts Exciting developments in the onshore Perth Basin o Conventional flow test of Senecio field and Waitsia discovery; considering additional appraisal drilling in 2015 o Irwin-1 well planned for FY2014/15…
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