AUSTRALIAN WORLDWIDE EXPLORATION Macquarie Australian Conference May 2009 www.awexplore.com February 2009
what is AWE doing in GFC
doing what AWE has always done 9 delivering holding 9 exploring for the growth course 9 seeking opportunities
holding the course delivery from core assets - now 5 with onshore Perth basin exploring for growth seeking opportunities focus on superior shareholder returns
financial results strong - half year to Dec-08 Production 4.64m BOE - 3% Sales revenue 392 m + 21% EBITDAX (field) 332 m + 18% Pretax profit 183 m + 7% Net profit 96 m + 15% Net profit (adj) 134 m + 59% EPS 19.2 cps + 2% DPS…
first half cash flow and no debt
5 production assets delivering as expected
to provide long term cash flow 12 10 Production (million BOE) 8 6 4 2 0 2008 2009 2010 2011 2012 2013 BassGas Casino Cliff Head Tui Onshore PB from reserves of (2P) 69 million barrels oil equivalent
holding the course
growth through exploration large exploration program started 200 million over 15 to 18 months risked potential to replace existing 2P reserves up to 15 wells 5 countries 6 basins
AWE is focused in 3 regions gas & oil oil exploration oil & gas
Taranaki basin - AWEs heartland 6000 km 2D seismic acquired in 5 permits At least 4 wells planned - Tui area near field exploration wells; Tui NE, SW, Kahu - Hoki-1 North Cape play follow up prospects at Tikati, Vesta - Bahamas…
Tui near field prospects Tui NE and SE potential reserves 10 million barrels each, sealed by interpreted tidal channel Kahu Tui SW
Bass basin Trefoil-2 appraisal and Rockhopper-1 exploration well to be drilled from July 2009 potential tie back to Yolla Gentoo-1 Rockhopper-1 Aroo-1 Trefoil-1 Trefoil-2
Otway basin Henry and Netherby development delayed possible Pecten East-2
Perth basin Mt Horner 4 wells started in April Elegans - Hovea -13 oil development Yardarino - Apium North-South, Redback gas exploration Apium North - Elegans gas prospect workover in progress Jingemia Hovea Cliff Head…
Indonesia growing acreage strategic position oil and biogenic gas plays pinnacle reef oil play with numerous reefs biogenic gas potential 1 well in 2009
Vietnam Petro Vietnam pre-emption now clear farmed into Block 06/94 in Nam Con Son Basin in March 2009. Tuong Vi-1 to be drilled in modest water depths in June 09 to test large fault block in proven play. target reserves of 40…
Yemen 1 exploration well scheduled late 2009. fractured basement play in Block7
exploration Assets 2009 Feb M ar Apr M ay Jun Jul Aug Sep Oct Nov Dec Bass Basin 2 wells Trefoil/Rockhopper Perth Basin 4 wells T aranaki Basin Hoki plus 3 wells Indonesia 1 well Yemen 1 well Vietnam Tuong Vi-1 The…
the outlook
summary strong cash position strong cash generation no debt 15 well exploration program taking advantage of financial environment holding the course
holding the course doing 9 delivering what AWE 9 exploring for growth has always 9 seeking done opportunities
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