Commercialising the Prize Morgan Stanley Investor Conference David Maxwell, Managing Director Hector Gordon, Executive Director-E & P 30 April 2013
Re-oriented to Australia particularly Eastern Australia Cooper Energy established 2002 Immediate success with Sellicks oil discovery in Western Flank of Cooper Basin 2003- 2011 Profitable production from Cooper Basin International…
Our strategy and business Presentation to Morgan Stanley Investor Conference Commercialising the Prize 30 April 2013 Leveraging strengths for TSR 4
Australia focus dominates Cooper Basin Western flank oil Gas potential Otway Basin Conventional and unconventional oil and gas plays Gippsland Basin Gas resources Opportunities Reviewing and screening Grow foundation assets plus…
Gas seller and buyer- different focus Seller Buyer Focussed on sustainable value Focussed on key terms - economics - price and indexation - technical issues - average and peak volumes - investment certainty - supply risk -…
Gas commercialisation Eastern Australia Competing forces LNG projects impact electricity demand & pricing coal & other fuels Competition user industries User industries Pipelines a key tariff access availability Upstream cost…
New gas supply many issues and questions Where on the cost curve Breakeven gas cost v volume includes pipeline costs & access Implications of rising prices additional conventional and CSG F A unconventional viability improves…
Gas strategy implementation our approach Leverage strengths capability and experience technical and market cash and cash flow relationships Assess market options Lowest cost supply focus upstream and pipeline cost varies by…
Cooper Basin (COE 19.16 30%) Discovered 5.4 mill bbls (net) to date* Produced 3.6 mill bbls (net) to date* Current oil production rate: 1,500 to 2,000 bopd (net) Very high margins Significant remaining potential 2012/13…
Gippsland Basin a proven basin 19.9% interest in Bass Strait Oil Company (BAS) COE providing technical and commercial support BAS assets include 5 offshore Gippsland Basin permits Moby, Judith and Patricia gas discoveries…
Otway Basin (COE 20 65%) Proven basin for conventional plays Liquids prone Jurassic source rocks Close to infrastructure Close to oil and gas markets COE strong regional position Potential GIP 17-58 TCF COE share 27%…
Casterton Formation unconventional oil and gas Late Jurassic- early Cretaceous rift fill lacustrine/fluvial rift fill sediments shale with some sands, coals and tuffs penetrated in 10 wells deepest penetration 2,500m Key source…
Otway Basin - Sawpit-2 Casterton Formation Core 56 metres of conventional core in Casterton and Sawpit shales Core analysis to determine source rock potential and fracability Total Organic Carbon (TOC) maturity mineralogy…
Technical elements for a successful unconventional play Organic Richness Maturity TOC: 1.5-2 % Thickness/ OHIP Area PRODUCTIVITY Mineralogy 40% Qtz OR Permeability Carbonate Pore Fractures Pressure Sawpit-2…
Exploration program 2013 Location Licence Operator COE Equity Comments / Total Jun Qtr Sept Qtr Dec Qtr 6 well program started March, Caseolus 3D PEL 92 Beach 25% started February. Further drilling likely later in 2013. Cooper…
Summary Demand and supply projections are positive for new gas developments but market fundamentals will still determine who wins and when Unconventional gas has to compete with conventional gas and CSG resources uneconomic at…
Appendices 1. Company snapshot 2. Cooper Basin PEL 92 3. Oil production historical and FY13 forecast 4. Tunisia 5. Indonesia 6. Indonesia - South Sumatra basin Presentation to Morgan Stanley Investor Conference Commercialising the…
Company snapshot COE Share Price Capital structure financial year to date 0.65 Share price 0.40 - 0.69 range,12 months to 30 April 2013 0.60 Shares on issue 329.0 mill 0.55 Market capitalisation 144.8 mill 0.50 44cts on 26 April…
Cooper Basin PEL 92 (COE 25%) Production record production in FY12 new pipeline commenced Dec 2012 production building over 2H FY13 development drilling & facilities upgrades planned for 2013 Significant remaining potential…
Oil production - historical and FY13 forecast FY13 Production by quarter FY13 Production forecast and prior periods (average BOPD) (kbbls, financial year) 2,000 600 1,800 FY13 Full year production 500 1,600 forecast: range: 460…
Tunisia (COE 30 85%) Hammamet West-3 underway (COE 30%) fractured carbonate play very large structure proven oil charge adjacent field produces same reservoir shallow water / near shore competitive fiscal terms COE carried up to…
Indonesia increasing production and reserves South Sumatra Basin prolific hydrocarbon province Range of onshore opportunities to add value exploration & development shallow oil deep gas CSG shale plays Low technical risk…
South Sumatra Basin Sukananti KSO (COE 55%) ex Pertamina fields 50 bopd (gross) currently 200 bopd (gross) work-over and drilling in 2013 potential 1 mill bbls (net to COE) contractor share 15% oil / 20% gas (after tax) Sumbagsel…
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