AWE Limited Macquarie Australian Conference May 2012
Agenda Introduction Assets Reserves and Resources Highlights from March quarter Progress on key assets Commercialisation of Resources Summary Slide 3
Australian based, Asia and US focused AWE well placed to grow in key energy markets Slide 4
AWE has approximately 174 million BOE of reserves plus resources (2P + 2C) 21 million barrels of 2P liquid reserves An additional 43 million barrels net contingent resources from AAL acquisition Total 87 million barrels of liquid…
Highlights from March quarterly YTD production of 3.8 million BOE demonstrating strength of base business YTD sales of 244 million, with YTD EBITDAX of 156 million, benefiting from higher oil prices Sale of 11.25% interest in Bass Basin…
Overview of quarterly results AWE Production by Project AWE Quarterly Revenue 2.5 120 Casino Cliff Head Tui Area Onshore PB USA BassGas 100 2.0 91 86 87 78 80 72 72 million BOE 1.5 A million 60 1.0 40 0.5…
BassGas MLE Progress AWE holds 46.25% of BassGas after sale of an 11.25% interest to Toyota Tsusho Offshore installation commenced in December, 2011 623 tonne accommodation and controls module installed in April, 2012 Progress…
Tui and Cliff Head Profitable oil projects Tui oil project (AWE 42.5%) Tui oil project continues strong production performance, averaging 5,700 bopd in March quarter Joint venture reviewing options for in-fill and near-field…
Accelerated development drilling at Sugarloaf AWE holds 10% (pre-royalty) share of Sugarloaf AMI, prime Eagle Ford acreage Operator plans 65 wells in Sugarloaf AMI in 2012, as part of major regional drilling campaign 25 wells on…
Onshore Perth Basin (AWE 33-100%) Conventional gas Extensive existing gas reserves and further opportunities Beharra Springs/Redback area; targeted drilling of Trapdoor-1 in late 2012 Tight gas Corybas-1 successful flow tests…
AWEs Shale Gas opportunities Perth Basin Exploration Project (WA) Large acreage under lease, with three prospective Shale units (Kockatea, Carynginia and Irwin River) 13-20 Trillion cubic feet of gas reported (in place) within…
Shale gas fracture stimulations 13 AWE shale targets below 2,500 metres Fresh water aquifers present at shallow depths Multiple cemented steel casings to provide barriers to shallow aquifers Fracture stimulations comprised mainly…
Shale gas development options 14 Deep Horizontal wells, up to 1.5km long. A number of wells drilled from each pad. Pads located kilometres apart. Slide 14
Atlas-1 exploration to commence shortly AWE set to start drilling at Atlas-1 (AWE 40%) in May, 2012 Atlas prospect offsets Lengo gas discovery which recovered gas on test in 2008 (12.8 mmcfgd) Success case sees potential joint gas…
AWE resource base is a key focus for AWE AAL deal and Key commercialisation is Focus expected to unlock considerable value by 2013 Focus on Trefoil gas/liquids field in light of stronger east coast gas prices and strong liquids yield…
AAL development progressing (AWE 100%) Upside potential of AAL project under assessment AWE review of subsurface geology and geophysics will assist in defining optimal reservoir development reduced number of wells longer reach…
Ande Ande Lumut update (AWE 100%) Subsurface Characteristics Estimated 76 million barrels recoverable oil (26% recovery factor) Oil column: up to 36 metres Water depth 73 metres Oil characteristics 14.2O API gravity; and…
AWE Growth Options and Strategy Strong core business performance for 2011-12 - 4.7 million BOE target (including 6+ months shut-in for BassGas) - 270 - 300 million revenue guidance Conventional oil and gas growth - AAL…
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