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ANNUAL GENERAL MEETING – Awe Limited

Awe Limited · Nov 19, 2009 · 56 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
    Thursday 19 November 2009 Annual General Meeting
  2. ANNUAL GENERAL MEETING – Awe Limited – slide 2
    Welcome 2
  3. ANNUAL GENERAL MEETING – Awe Limited – slide 3
    Directors Bruce McKay Bruce Wood Colin Green Andy Hogendijk David McEvoy Ken Williams 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 Special Business Change of company name Remuneration of non-executive…
  5. ANNUAL GENERAL MEETING – Awe Limited – slide 5
    Formal business Accounts and Reports Chairmans Report 5
  6. ANNUAL GENERAL MEETING – Awe Limited – slide 6
    This time last year 2008 AGM WTI Oil (US) 54.44 US/A 65.6c WTI Oil A82.9 AWE Share Price 2.27 ASX 200 Energy Index 11,907 ASX All Ords Index 3,528 6
  7. ANNUAL GENERAL MEETING – Awe Limited – slide 7
    This week 2008 AGM 2009 AGM WTI Oil (US) 54.44 79.12 US/A 65.6c 93.5c WTI Oil A82.9 A84.6 AWE Share Price 2.27 2.81 ASX 200 Energy Index 11,907 16,098 ASX All Ords Index 3,528 4,750 7
  8. ANNUAL GENERAL MEETING – Awe Limited – slide 8
    Since June 2008 June 2008 2008 AGM June 2009 2009 AGM WTI Oil (US) 140.00 54.44 69.89 79.12 US/A 96.4c 65.6c 81.3c 93.5c WTI Oil A145.2 A82.9 A86.0 A84.6 AWE Share Price 4.16 2.27 2.57 2.81 ASX 200 Energy Index 19,926…
  9. ANNUAL GENERAL MEETING – Awe Limited – slide 9
    Continued volatility in oil prices US160/bbl US140/bbl US120/bbl US100/bbl US80/bbl US60/bbl US40/bbl US20/bbl US0/bbl 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Year 9
  10. ANNUAL GENERAL MEETING – Awe Limited – slide 10
    AWE varies with oil prices US160/bbl 5.00 4.50 US140/bbl 4.00 US120/bbl 3.50 US100/bbl share price 3.00 US80/bbl 2.50 oil price 2.00 US60/bbl 1.50 US40/bbl 1.00 US20/bbl 0.50 US0/bbl - 2000 2001 2002 2003…
  11. ANNUAL GENERAL MEETING – Awe Limited – slide 11
    Full year summary June 2008 June 2009 change production (million boe) 9.88 8.75 -11% sales revenue ( million) 821.2 589.6 -28% EBITDAX 738.7 476.0 -36% EBIT 503.6 209.2 -58% NPAT 264.4 88.6 -66% net exceptional items 9.0…
  12. ANNUAL GENERAL MEETING – Awe Limited – slide 12
    Balanced Scorecard Growth Sustainability Base Business 12
  13. ANNUAL GENERAL MEETING – Awe Limited – slide 13
    Sustainability commitment across the company zero injuries across our operated and non-operated sites initial participation in Carbon Disclosure Project ongoing community investment stakeholder engagement being pursued…
  14. ANNUAL GENERAL MEETING – Awe Limited – slide 14
    Sustainability - next steps ongoing focus on safety, environment, team and community improve energy efficiency and Greenhouse Gas Intensity initial submission to Government NGERs process for CO2 emissions staff rewards for…
  15. ANNUAL GENERAL MEETING – Awe Limited – slide 15
    Balanced Scorecard Growth Sustainability Base Business 15
  16. ANNUAL GENERAL MEETING – Awe Limited – slide 16
    Balanced Scorecard KPIs established Growth Alignment of remuneration Sustainability Base Business 16
  17. ANNUAL GENERAL MEETING – Awe Limited – slide 17
    Years of proud service Eddie Smith Colin Green Thank you
  18. ANNUAL GENERAL MEETING – Awe Limited – slide 18
  19. ANNUAL GENERAL MEETING – Awe Limited – slide 19
    Formal business Accounts and reports Managing Directors Report 19
  20. ANNUAL GENERAL MEETING – Awe Limited – slide 20
    Performance and results 20
  21. ANNUAL GENERAL MEETING – Awe Limited – slide 21
    Highlights Delivered: robust core production strong cash flow increased reserves by 30% reserves replacement ratio 279% strengthened balance sheet zero debt maintained 21
  22. ANNUAL GENERAL MEETING – Awe Limited – slide 22
    30% growth in 2P reserves 80 70 60 15.4 Million barrels oil equivalent 50 8.7 9.0 40 68.9 30 53.2 20 10 0 Reserves as of Production Discoveries & ARC merger Reserves as of 30 June 2008 additions 30 June 2009…
  23. ANNUAL GENERAL MEETING – Awe Limited – slide 23
    Delivering on strategy 23
  24. ANNUAL GENERAL MEETING – Awe Limited – slide 24
    Strategy grow shareholder returns through exploration and selective acquisitions Growth 1. deliver base business Sustainability 2. deliver near-field opportunities 3. grow through exploration and Base Business selective…
  25. ANNUAL GENERAL MEETING – Awe Limited – slide 25
    Long term reserves ensure continued strong production 10 8 Millions barrels oil equivalent 6 BassGas 4 2 Offshore Otway Perth Basin Tui 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Year to…
  26. ANNUAL GENERAL MEETING – Awe Limited – slide 26
    Near field opportunities 26
  27. ANNUAL GENERAL MEETING – Awe Limited – slide 27
    Tui expansion four potential targets three extensions to Tui Kahu two Tui wells in 2009/2010 Kahu sidetrack potential development wells 27
  28. ANNUAL GENERAL MEETING – Awe Limited – slide 28
    BassGas increased equities BassGas facilities upgrade in 2010 and 2011 Trefoil appraisal Rockhopper -1 significant resource potential 28
  29. ANNUAL GENERAL MEETING – Awe Limited – slide 29
    Casino expansion development of Henry and Netherby gas fields underway ability to tie back additional discoveries in future first gas first half 2010 29
  30. ANNUAL GENERAL MEETING – Awe Limited – slide 30
    Near-field opportunities support production base 10 8 Millions barrels oil equivalent near-field opportunities 6 4 base production 2 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Year to June…
  31. ANNUAL GENERAL MEETING – Awe Limited – slide 31
    Exploration 31
  32. ANNUAL GENERAL MEETING – Awe Limited – slide 32
    New Zealand potential commanding position in Taranaki three new plays in Taranaki and Canterbury basins two new permits added AWEs heartland 32
  33. ANNUAL GENERAL MEETING – Awe Limited – slide 33
    Taranaki Basin AWE holds commanding position North Cape oil play initial test Hoki - 1 250 million barrel resource potential four follow up prospects Moki oil play test with Tuatara - 1 in current program 100 million barrel…
  34. ANNUAL GENERAL MEETING – Awe Limited – slide 34
    North Cape oil play Hoki - 1 will test this new play Hestia multiple follow up prospects Vesta Hoki Tamure Tikati Tui Fields AWE already holds the follow up potential 34
  35. ANNUAL GENERAL MEETING – Awe Limited – slide 35
    Indonesia: three years acreage consolidation coming to fruition Pinnacle Reef oil play offsetting Kodeco development Liyun-1 drilling in 2010 gas potential Lengo gas discovery 2008 growing acreage 35
  36. ANNUAL GENERAL MEETING – Awe Limited – slide 36
    Yemen fractured basement play in Block 7 oil success in permits to west and south Al Measher-1 preparing to drill resource potential 25 million barrels 36
  37. ANNUAL GENERAL MEETING – Awe Limited – slide 37
    Exploration offers major upside 14 multiple opportunities for success this year and for 12 future 10 explora tion Millions barrels oil equivalent potential current program is 8 potentially near fie ld transformational 6…
  38. ANNUAL GENERAL MEETING – Awe Limited – slide 38
    FY2010 drilling program - quality prospects Well Name Basin Target AWE share Timing* Australia Trefoil-2 Bass Gas 47.5% 4Q 09 Rockhopper-1 Bass Gas 47.5% 4Q 09 New Zealand Hoki-1 Taranaki Oil 50.0% 1Q 10 Tui NE-1 Taranaki Oil…
  39. ANNUAL GENERAL MEETING – Awe Limited – slide 39
    The outlook committed to delivery strong balance sheet exciting exploration program near field exploration 39
  40. ANNUAL GENERAL MEETING – Awe Limited – slide 40
    Thank you 41
  41. ANNUAL GENERAL MEETING – Awe Limited – slide 41
    Formal business Accounts and reports Questions 42
  42. ANNUAL GENERAL MEETING – Awe Limited – slide 42
    Formal business Remuneration report 43
  43. ANNUAL GENERAL MEETING – Awe Limited – slide 43
    Remuneration report Proxies for 239,655,826 Proxies against 3,379,378 Proxies undirected 3,309,002 Proxies abstained 2,504,549 44
  44. ANNUAL GENERAL MEETING – Awe Limited – slide 44
    Formal business Election of directors 45
  45. ANNUAL GENERAL MEETING – Awe Limited – slide 45
    Re-election of David McEvoy Proxies for 243,856,042 Proxies against 876,806 Proxies undirected 2,969,833 Proxies abstained 1,148,074 46
  46. ANNUAL GENERAL MEETING – Awe Limited – slide 46
    Re-election of Ken Williams Proxies for 244,025,007 Proxies against 595,463 Proxies undirected 2,969,833 Proxies abstained 1,260,452 47
  47. ANNUAL GENERAL MEETING – Awe Limited – slide 47
    Election of Bruce Phillips Proxies for 241,796,985 Proxies against 929,580 Proxies undirected 2,987,248 Proxies abstained 3,136,942 48
  48. ANNUAL GENERAL MEETING – Awe Limited – slide 48
    Formal business Special business Change of company name 49
  49. ANNUAL GENERAL MEETING – Awe Limited – slide 49
    Change of company name Proxies for 243,839,321 Proxies against 1,461,756 Proxies undirected 2,973,717 Proxies abstained 563,961 50
  50. ANNUAL GENERAL MEETING – Awe Limited – slide 50
    Formal business Special business Remuneration of non-executive directors 51
  51. ANNUAL GENERAL MEETING – Awe Limited – slide 51
    Remuneration of non-executive directors Proxies for 237,746,068 Proxies against 4,808,680 Proxies undirected 2,877,316 Proxies abstained 2,214,592 52
  52. ANNUAL GENERAL MEETING – Awe Limited – slide 52
    Formal business Special business Issue of cash share rights to Bruce Wood 53
  53. ANNUAL GENERAL MEETING – Awe Limited – slide 53
    Issue of cash share rights to Bruce Wood Proxies for 224,258,348 Proxies against 19,693,940 Proxies undirected 3,315,916 Proxies abstained 1,405,666 54
  54. ANNUAL GENERAL MEETING – Awe Limited – slide 54
    Formal business Other business 55
  55. ANNUAL GENERAL MEETING – Awe Limited – slide 55
    For information Download and view AGM presentation at www.awexplore.com 56
  56. ANNUAL GENERAL MEETING – Awe Limited – slide 56
    AWE thanks you for your attendance today 57

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