Snapshot 2 New tax regime not material Only 3.5% of reserves affected Onshore royalties approx 1 million per year Strong cash flow and balance sheet Resources to support production over 10 years Growth from exploration
Resources to support production base 4 Resource base for future development Development funding capacity Long term cash flow generation
Growth 5 Exploration is the key growth engine Multiple opportunities for success this year and for future Current program could be transformational 4 successes in 6 wells so far Any single success could be significant Up to…
Taranaki Basin NZ AWE holds commanding 6 position North Cape oil play Kahu Hoki-1 unsuccessful Large exploration Follow up prospects prospect adjacent to Tui being studied Moki oil play Tuatara-1 approved AWE 75% 100 million…
Kahu 7 Cross section of the Kahu channel
Tuatara comparison with Maari 8 Tuatara Maari 1.5 km 1.5 km Base Pliocene Base Pliocene Moki Moki oil sands 80 million bbl
Yemen (19.25%) 9 Al Meashar-1 oil discovery Fractured basement play Oil flow encouraging Potential 25 million barrels Follow up: Jebel Al Milh-1 drilling
Al Meashar: near to large development 10 OMV development Habban oil field
Indonesia: East Java acreage position emerging 11 Pinnacle Reef oil play Offsetting successful Kodeco development Liyun-1 drilling in June quarter 75 million barrel target Follow up exploration targets AWE operator in 2 blocks…
Kujung pinnacle and coalesced reef trend in Bulu 12 and Terumbu blocks Kujung pinnacle reefs Liyun-1
Venturing into unconventional 13 a fine-grained rock (mixture of clay and minerals such as quartz) a source rock an organically rich rock which, if heated sufficiently, will generate oil and gas a seal for conventional traps has…
Shale gas has changed the global gas paradigm 14 80 70 Gas Production (bcf/day) Shale gas has caused a 60 Shale fundamental shift in US Gas 50 pricing 40 Tight Sands 30 2007 - Gas assumed to be Conventional 20 set at oil…
Conventional gas potential of the North Perth Basin 15 AWE acreage contains three shale gas targets Kockatea core taken in Redback 2 Carynginia cores taken in Woodada Deep 1 in three intervals middle 60 metre interval being…
Summary 16 Tax changes are not material for AWE Strong cash flow and balance sheet Resources to support production over 10 years Exploration program has big potential remaining Shale gas initiative launched
Perth Basin (33% - 100%) 18
Appendix
Tui 20 AWE discovery FPSO development in 15 months Original 2P reserves 50 million barrels 27.5 million barrels produced in 1000 days Appraisal / exploration drilling started Tui SW approaching target
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