AWE Limited Bruce Clement, Managing Director Citi Australian Investment Conference 30 October 2013
About AWE Limited Australian energy company focused on upstream oil and gas and related energy opportunities Portfolio of production, exploration and development assets across Australia, New Zealand, USA and Indonesia Listed on…
Focused on regional growth markets Expansion into Asia has created value and increased available opportunities 4
Experienced Board and Management Non-executive Directors Executive Team Bruce Phillips Chairman Bruce Clement Managing Director 30+ years of O&G technical, financial and Engineer with 30+ years of technical, financial managerial…
Growth on track - hitting all the targets SEPTEMBER QUARTER (v June Qtr) Production 1.54 MMBOE up 18% Sales Revenue 89m up 14% Field EBITDAX 59m up 31% AAL SELL-DOWN US188m for 50% interest Transfer of operatorship to Santos…
Reserves have doubled AWE 2P Reserves and 2C Resources (as at 30 June 2013) 220 206.6 million boe Sugarloaf 200 180 Reserves represent more Anambas and Lengo, Indonesia than 20 years of production Australian Gas 160 Trefoil,…
Focused on HSE and community No LTIs in past 12 months has reduced rolling rate to zero No reportable environmental incidents Continue to engage with local communities where AWE operates open and transparent approach HSE, social…
Delivering our strategy Deliver base Maximise Develop new Grow through business near-field ventures and exploration & opportunities opportunities acquisitions Optimise core asset Deliver opportunit- Leverage skills from Identify and…
Ande Ande Lumut oil project Transformational project for AWE 10
AAL oil project success AWE CRYSTALLISES VALUE IN AAL ASSET Acquired 100% of Northwest Natuna and Anambas PSCs in February 2012 for US139 million Sold 50% interest in Northwest Natuna PSC to Santos for US188m in August 2013…
Production outlook post AAL sale 2C Contingent Resources Ande Ande Lumut production uplift Note: As at 30 June 2013, based on Brent oil price of USD100 per bbl, illustrative model only and not formal company guidance…
Cash flow post AAL sale Cumulative cash flow accelerates after AAL first oil 13
Sugarloaf AMI Production up 15% quarter on quarter; 2,300 boepd net at 30 September 2013 Net 2P Reserves increased to 14.8 mmBOE at 30 June 2013 Net 2C Contingent Resources now 5.0 mmBOE with further upside potential Sugarloaf AMI…
BassGas Jack-up drill rig alongside Yolla platform, August 2004 Workovers of Yolla-3 and Yolla-4 wells successful FID for 2 development wells achieved Drilling planned for 2014, subject to contracting suitable rig Installation of…
Well positioned in east coast gas market AWE well positioned in strengthening Australian east coast gas market AWE holds substantial uncontracted gas reserves: BassGas production after 2017 Casino/Henry production after 2017…
Tui - Development and Exploration Two well drilling program planned to commence in December 2013, subject to weather and rig availability Oi located 12 km northeast of Tui field Prospective Resource of 11 mmbbls of recoverable oil…
Perth Basin Exploration Corybas Extensive acreage - 3,380 Km2 across 10 licences Expect to drill from 2 to 4 wells in Perth Basin in CY 2014 Focus on developing tight gas first: Moving forward at Senecio and Corybas Stage 1…
Unlocking the potential Sale of 50% of AAL creates value and adds flexibility AAL sale validates original strategy, demonstrates AWEs ability to create value Stronger balance sheet to leverage into new opportunities 2P Reserves and 2C…
Thank You Questions
1Q production summary REGION AND ASSET INTEREST 1Q FY14 PREVIOUS PRODUCTION QUARTER 3 months to Sept 2013 3 months to June 2013 Australia BassGas 46.25% 571 394 Casino/Henry 25% 354 292 Cliff Head 57.5% 129 140 Perth Basin*…
Full year performance summary Strong balance sheet and long-term, stable cash flow underpins growth strategy 22
Full year earnings breakdown FY to Jun 2013 FY to Jun 2012 million million Revenue 301.8 299.7 Operating Costs (115.8) (101.8) Amortisation (105.0) (80.5) Exploration costs expensed (9.7) (36.5) Asset impairments/reversals - (138.2)…
Segmental reporting (at 30 June 2013) Total South- Western New United Exploration Eastern Australia Zealand States Activities Australia millions Sales revenue 300.5 82.8 79.6 82.9 55.2 - Production costs and royalties (115.8)…
Cash flow analysis (at 30 June) FY to Jun 2013 FY to Jun 2012 million million Opening cash 42.8 117.2 Net cash flow from operations* 118.2 123.9 Asset acquisitions (NW Natuna) - (135.2) Asset disposals - 108.8 Development spending…
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