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ANNUAL GENERAL MEETING – Awe Limited

Awe Limited · Nov 24, 2011 · 44 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 24 November 2011
  2. ANNUAL GENERAL MEETING – Awe Limited – slide 2
    2 Welcome
  3. ANNUAL GENERAL MEETING – Awe Limited – slide 3
    Directors 3 Bruce Phillips, Bruce Clement, David McEvoy Chairman Managing Director Andy Hogendijk Ken Williams Nick Jukes Vijoleta Braach- Maksvytis
  4. ANNUAL GENERAL MEETING – Awe Limited – slide 4
    Todays formal business 4 Notice of Meeting Accounts and Reports Chairmans report Managing Directors report Questions Remuneration Report Election of Directors Grant of Cash Share Rights to Bruce Clement Changes to…
  5. ANNUAL GENERAL MEETING – Awe Limited – slide 5
    Formal business 5 Accounts and Reports Chairmans Report
  6. ANNUAL GENERAL MEETING – Awe Limited – slide 6
    Formal business 6 Chairmans address
  7. ANNUAL GENERAL MEETING – Awe Limited – slide 7
    Formal business 7 Accounts and Reports Managing Directors Report
  8. ANNUAL GENERAL MEETING – Awe Limited – slide 8
    Managing Directors Report 8 Financial Results Reserves and Resources BassGas MLE Shale Gas Initiative 2011/12 Plans
  9. ANNUAL GENERAL MEETING – Awe Limited – slide 9
    AWE share price performance 9 %
  10. ANNUAL GENERAL MEETING – Awe Limited – slide 10
    Financial results year ending 30 June 2011 10 Base business is strong Production 6.1 mmboe Sales revenue 305 million Operating cash flow (1) 161 million Reported loss after tax 117.6 million Impacted by: Asset impairments 75.7…
  11. ANNUAL GENERAL MEETING – Awe Limited – slide 11
    AWE Limited position at 30 June 2011 11 Excellent Reserves and Resources Base 2P Reserves 66.1 mmboe Contingent Resources 77.8 mmboe Strong Balance Sheet Cash 117 million Debt Nil Undrawn debt facility 150 million
  12. ANNUAL GENERAL MEETING – Awe Limited – slide 12
    AWEs long term reserves base 12 2P Reserves (million boe) Project Equity (as at June 2011) Tui Bass Gas 57.5% 36.3 Onshore PB Cliff Head Otway Basin 25.0% 10.6 Cliff Head 57.5% 4.0 Otway Basin BassGas Onshore PB 33%-100%…
  13. ANNUAL GENERAL MEETING – Awe Limited – slide 13
    AWEs Contingent Resources rose by 37% 13 in 2010-11 Contingent Resources Project Equity (million boe) Tui Bass Basin 47.5% - 57.5% 40.0 Indonesia Otway Basin 25.0% 4.8 Bass Cliff Head 57.5% 1.2 Onshore Basin Onshore PB 33%-100% 8.2…
  14. ANNUAL GENERAL MEETING – Awe Limited – slide 14
    AWE strategy is to grow shareholder 14 returns as an energy company 1. Deliver sustainable base business Focus on core assets and optimize performance 2. Maximise value from near-field opportunities Focus on development of…
  15. ANNUAL GENERAL MEETING – Awe Limited – slide 15
    Key projects in 2012 15 BassGas Mid Life Enhancement Project Shale Gas Initiative Exploration plans
  16. ANNUAL GENERAL MEETING – Awe Limited – slide 16
    BassGas Mid Life Enhancement Project 16 Upgrade offshore facilities for life of field production Increase production capacity by 30% Fully exploit gas reserves and resources Potential to test upside oil resources
  17. ANNUAL GENERAL MEETING – Awe Limited – slide 17
    BassGas MLE 17 Phase 1 Offshore facilities Accommodation and gas compression Preparations for additional wells Phase 2 Development drilling At least 2 gas development wells drilled summer 2012/13 JV has selected option for jack…
  18. ANNUAL GENERAL MEETING – Awe Limited – slide 18
    MLE: schematic of Yolla platform 18 showing new modules Gas compression module Accommodation module
  19. ANNUAL GENERAL MEETING – Awe Limited – slide 19
    MLE: Accommodation module in New Plymouth 19
  20. ANNUAL GENERAL MEETING – Awe Limited – slide 20
    AWE shale gas initiative 20 Sugarloaf development project Reserves increases Production increase during 2011 Value increase from acquisition Perth Basin exploration and appraisal Preparations complete for 3 wells to test…
  21. ANNUAL GENERAL MEETING – Awe Limited – slide 21
    Sugarloaf project delivering results 21 Outstanding production performance AWE Production from Sugarloaf AMI 100% Wells delivering 250+ bbls of 20,000 Production liquids per mmcf 18,000 Growth Liquids 16,000 Gas (BOE)…
  22. ANNUAL GENERAL MEETING – Awe Limited – slide 22
    Perth Basin exciting tight gas 22 and shale gas opportunity Significant shale gas resource identified across AWE acreage, 13 to 20 TCF gas in place in Carynginia shale Located adjacent to existing infrastructure: gas plants and…
  23. ANNUAL GENERAL MEETING – Awe Limited – slide 23
    Plans for testing Carynginia shale at 23 Woodada Deep AWE is focused on environmental management AWE has engaged openly with local communities and landowners and has published its environment management plan Target Carynginia shale…
  24. ANNUAL GENERAL MEETING – Awe Limited – slide 24
    Potential shale gas development plan 24 Multiple wells drilled from each location minimises impact on environment
  25. ANNUAL GENERAL MEETING – Awe Limited – slide 25
    Exploration plans for 2012 25 Atlas-1 exploration well, offshore Indonesia In conjunction with Lengo discovery, targeting up to 1 tcf of sales gas Potential to establish a significant gas business Onshore Perth Basin…
  26. ANNUAL GENERAL MEETING – Awe Limited – slide 26
    Sound operating performance, 26 Quarter ending 30 September 2011 Meeting production and revenue targets 1.6 mmboe 86 million Sugarloaf Onshore PB Cliff Head Tui Casino BassGas Production Revenue
  27. ANNUAL GENERAL MEETING – Awe Limited – slide 27
    AWE is delivering strong operating results 27 and is well positioned for future growth Strong, sustainable base business 66 million BOE 2P Reserves 78 million BOE 2C Contingent Resources Valuable Core Business 161 million operating…
  28. ANNUAL GENERAL MEETING – Awe Limited – slide 28
    Thank you 28
  29. ANNUAL GENERAL MEETING – Awe Limited – slide 29
    Formal business 30 Accounts and Reports Questions
  30. ANNUAL GENERAL MEETING – Awe Limited – slide 30
    Formal business 31 Remuneration Report
  31. ANNUAL GENERAL MEETING – Awe Limited – slide 31
    Remuneration report 32 Resolution 1, adopt remuneration report Proxies for 252,325,120 Proxies against 4,742,893 Proxies undirected 4,533,938 Proxies abstained 4,805,828
  32. ANNUAL GENERAL MEETING – Awe Limited – slide 32
    Formal business 33 Election of Directors
  33. ANNUAL GENERAL MEETING – Awe Limited – slide 33
    Re-election of Mr David I McEvoy 34
  34. ANNUAL GENERAL MEETING – Awe Limited – slide 34
    Re-election of Mr David I McEvoy 35 Resolution 2A, re-elect Mr D I McEvoy Proxies for 256,159,004 Proxies against 2,999,939 Proxies undirected 3,052,838 Proxies abstained 4,225,998
  35. ANNUAL GENERAL MEETING – Awe Limited – slide 35
    Election of Mr Kenneth G Williams 36
  36. ANNUAL GENERAL MEETING – Awe Limited – slide 36
    Election of Mr Kenneth G Williams 37 Resolution 2B, re-elect Mr K G Williams Proxies for 253,933,146 Proxies against 3,069,069 Proxies undirected 5,197,570 Proxies abstained 4,237,994
  37. ANNUAL GENERAL MEETING – Awe Limited – slide 37
    Formal business 38 Grant of Cash Share Rights to Mr Bruce Clement
  38. ANNUAL GENERAL MEETING – Awe Limited – slide 38
    Grant of Cash Share Rights to Mr Bruce Clement 39 Resolution 3A, grant Mr B Clement 2013 Grant of 920,245 Cash Share Rights vesting 30 June 2013: Proxies for 251,056,524 Proxies against 6,448,590 Proxies undirected…
  39. ANNUAL GENERAL MEETING – Awe Limited – slide 39
    Grant of Cash Share Rights to Mr Bruce Clement 40 Resolution 3B, grant Mr B Clement 2014 Grant of 916,031 Cash Share Rights vesting 30 June 2014: Proxies for 251,034,399 Proxies against 6,458,325 Proxies undirected…
  40. ANNUAL GENERAL MEETING – Awe Limited – slide 40
    Formal business 41 Changes to Constitution (including Proportional Takeover Provisions)
  41. ANNUAL GENERAL MEETING – Awe Limited – slide 41
    Changes to Constitution 42 (including Proportional Takeover Provisions) Resolution 4, changes to constitution Proxies for 112,981,547 Proxies against 145,631,440 Proxies undirected 3,202,742 Proxies abstained 4,614,050
  42. ANNUAL GENERAL MEETING – Awe Limited – slide 42
    Formal business 43 Other business
  43. ANNUAL GENERAL MEETING – Awe Limited – slide 43
    For information 44 Download and view AGM presentation at www.awexplore.com
  44. ANNUAL GENERAL MEETING – Awe Limited – slide 44
    AWE thanks you for your attendance today 45

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