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AWE ARC MERGER – Awe Limited

Awe Limited · Apr 24, 2008 · 28 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. AWE ARC MERGER – Awe Limited – slide 1
    AWE-ARC Merger April 2008
  2. AWE ARC MERGER – Awe Limited – slide 2
    AWE-ARC Merger: Transaction Highlights The Boards of ARC Energy Limited (ARC) (ASX:ARQ) and Australian Worldwide Exploration (AWE) (ASX:AWE) have agreed to merge and create Australias leading mid-tier oil and gas company with: a…
  3. AWE ARC MERGER – Awe Limited – slide 3
    Section 1 Transaction Overview
  4. AWE ARC MERGER – Awe Limited – slide 4
    Transaction Overview AWE to acquire ARC via a scheme of arrangement Proposal Canning Basin exploration portfolio to be demerged to ARC shareholders as Buru Energy 1.59/share of value to ARC shareholders, comprising: 0.30 AWE…
  5. AWE ARC MERGER – Awe Limited – slide 5
    Transaction Structure Step 1: Buru demerger Step 2: AWE acquisition of ARC Buru to be demerged to existing shareholders AWE to acquire ARC through scheme of 50% ordinary resolution required to approve arrangement. Scheme requires ARC…
  6. AWE ARC MERGER – Awe Limited – slide 6
    Benefits for ARC Shareholders Attractive Value Offer value of 1.59 based on AWEs 5-Day VWAP Proposition 38% premium to ARCs undisturbed 1-Mth VWAP High quality diversified portfolio of assets with increased leverage to Perth Basin…
  7. AWE ARC MERGER – Awe Limited – slide 7
    Offer Value AWEs offer provides compelling value for ARC shareholders The implied value of the AWE Offer for ARC and the Buru spin-off proposal of 1.59/share represents a substantial premium 27.8% premium to undisturbed price of…
  8. AWE ARC MERGER – Awe Limited – slide 8
    Maximum Cash Alternative ARC shareholders will be provided with the flexibility to achieve value certainty through a Maximum Cash Alternative Under the Maximum Cash Alternative, shareholders can elect to increase their individual…
  9. AWE ARC MERGER – Awe Limited – slide 9
    Transaction Timeline Announcement 24 April 2008 Scheme booklets lodged with ASIC Mid June First court hearing Late June Scheme documents sent to ARC Energy shareholders End of June ARC shareholders meetings Late July Second court…
  10. AWE ARC MERGER – Awe Limited – slide 10
    Section 2 Combined Entity
  11. AWE ARC MERGER – Awe Limited – slide 11
    Transaction Rationale A Compelling and Logical Merger Increases participation in two of AWEs four core areas which provides shareholders with greater High Quality and exposure to Cliff Head and BassGas Diversified Diversification of…
  12. AWE ARC MERGER – Awe Limited – slide 12
    Broad, Low-Risk Portfolio of Assets Investor Presentation 12 April 2008
  13. AWE ARC MERGER – Awe Limited – slide 13
    Increased Exposure to Key Assets: BassGas BASSGAS MELBOURNE Pakenham AWE ARC Total Moe Interest (%) 30.0 12.5 42.5 Longford Black Lang Lang 2P Reserves Rock Long 23.8 8.8 32.6 Island Point (mmboe) Pro-Forma 2.1mmboe FY08…
  14. AWE ARC MERGER – Awe Limited – slide 14
    Increased Exposure to Key Assets: Cliff Head / Offshore Perth Basin CLIFF HEAD / WA 286P / TP/15 AWE ARC Total Interest (%) 27.5 30.0 57.5 TP 2P Reserves 3.4 3.6 7.0 / 15 (mmboe) Pro-Forma 1.7mmboe FY08 Production…
  15. AWE ARC MERGER – Awe Limited – slide 15
    AWE Cornerstone Assets: Tui Project Taranaki Basin TUI PROJECT PEP 38401 PEP 381202 AWE AWE Operator AWE ARC Total Operator Paua Interest (%) 42.5 0.0 42.5 Taranaki Basin 2P Reserves PEP 38482 17.7 0.0 17.7 Hoki AWE…
  16. AWE ARC MERGER – Awe Limited – slide 16
    AWE Cornerstone Assets: Casino/Henry Otway Basin CASINO/HENRY To A de la id AWE ARC Total e Warnambool SE AG Interest (%) 25.0 0.0 25.0 AS Pi Halladale pe lin 2P Reserves e 16.1 0.0 16.1 North Paaratte Gas…
  17. AWE ARC MERGER – Awe Limited – slide 17
    Diversification of Asset Base: Onshore Perth Basin Bunbury Dampier Pipeline ONSHORE PERTH BASIN Bran d Hig TP/15 L7 AWE ARC Total hwa 0.0 50-100 50-100 y Mt Horner Interest (%) L2 2P Reserves Dongara…
  18. AWE ARC MERGER – Awe Limited – slide 18
    Consolidation of Diversified Reserve Base Enhanced 2P Reserves Profile (mmboe) 6% 21% 4.9 46% AWE 54% 16.1 9% 3.6 61.0 mmboe + 41% 3.4 ARC 8.8 78.3 47% ARC 53% 23.8 AWE 17.3 mmboe 23% total reserves =…
  19. AWE ARC MERGER – Awe Limited – slide 19
    Strong Near-term Production From All Assets 12.0 AWE Reserves ARC Reserves Future Joint Opportunities 2P Reserves by Field 10.0 Onshore Perth Basin (6%) 4.9mmboe Tui (23%) Annual Production (mmboe) 17.7mmboe 8.0…
  20. AWE ARC MERGER – Awe Limited – slide 20
    will enhance the Financial Strength of the Merged Company Strong near-term cashflow generation will allow the combined entity to continue to pursue exploration and strategic acquisitions Pro-forma CY2007 production of 9.0mmboe…
  21. AWE ARC MERGER – Awe Limited – slide 21
    Developing Scale and Greater Investor Significance Leading Mid-cap Oil & Gas Player in Australia ASX 100 Re-rating Potential 6.0 5.7 ASX 100 2.2bn 5.0 Minor re-rating of 7% required for inclusion in Market Capitalisation…
  22. AWE ARC MERGER – Awe Limited – slide 22
    Strong Pipeline of Growth Investor Presentation 22 April 2008
  23. AWE ARC MERGER – Awe Limited – slide 23
    Buru: The red Pindan sands of the Kimberley, A special place. Section 3 Buru Energy
  24. AWE ARC MERGER – Awe Limited – slide 24
    Buru Energy Limited Buru will give shareholders exposure to an exciting new company with a unique exploration portfolio Buru will hold all of ARC Energys interests in the Canning Basin, an acreage position twice the size of…
  25. AWE ARC MERGER – Awe Limited – slide 25
    Buru Energy Limited: Asset overview Buru will hold all of ARCs Canning Basin assets including the gas sales agreement with Alcoa Buru will have initial production from the Blina Field. A planned workover program in FY08/09 will lift…
  26. AWE ARC MERGER – Awe Limited – slide 26
    Buru Energy Limited: Ownership & Capital Structure AWE ARC Shareholders Shareholders 1% Mineralogy 4.5% 15% 85% Trojan Investments 4.4% Symphony 4.1% Ordinary Shares & Listed Options Dimensional 2.8% ING Investments 2.5% Eric…
  27. AWE ARC MERGER – Awe Limited – slide 27
    Buru Energy Limited: Business Plan Elephant Hunter J seeking big targets delivering high leverage to shareholders Dominant Basin-wide acreage position with operatorship and control of the exploration program Unique exploration…
  28. AWE ARC MERGER – Awe Limited – slide 28
    Buru Energy Limited: Key Appointments Current ARC Managing Director Over 35 years experience in petroleum geology and geophysics, petroleum Chairman exploration and production company management Will hold 2% of Buru Eric Streitberg…

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