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HALF YEAR RESULTS 2010 – Awe Limited

Awe Limited · Feb 22, 2010 · 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. HALF YEAR RESULTS 2010 – Awe Limited – slide 1
    Half Year Results 2010 22nd February 2010
  2. HALF YEAR RESULTS 2010 – Awe Limited – slide 2
    2009 full year results 6 months to Dec 2008 Dec 2009 Change Production (million BOE) 4.64 3.32 -28% Sales revenue ( million) 392.1 189.6 -52% EBITDAX 331.7 129.1 -61% Pre tax profit 183.1 42.0 -77% NPAT 96.1 17.3 -82% Net…
  3. HALF YEAR RESULTS 2010 – Awe Limited – slide 3
    Key factors in the results 6 Fall in oil prices: A115 (2008), A82 (2009) Fixed costs Reduced oil production Tax and royalty provisions
  4. HALF YEAR RESULTS 2010 – Awe Limited – slide 4
    Strong balance sheet and cash to fund exploration and acquisitions
  5. HALF YEAR RESULTS 2010 – Awe Limited – slide 5
    Highlights Delivered: Strong cash flow BassGas MLE FID Additional BassGas Equity Strong balance sheet 3 year finance facility Oil and gas discovery at Rockhopper Successful Trefoil gas appraisal Redback South gas discovery…
  6. HALF YEAR RESULTS 2010 – Awe Limited – slide 6
    Sustainability No lost time injuries in AWE operations One lost time injury in non operated investment Strong environmental performance Reputation solid Within our communities With governments
  7. HALF YEAR RESULTS 2010 – Awe Limited – slide 7
    Delivering on Strategy
  8. HALF YEAR RESULTS 2010 – Awe Limited – slide 8
    Strategy Grow shareholder returns through exploration and swift responses to opportunities 1. Deliver base business 2. Deliver near-field opportunities 3. Grow through exploration and selective acquisition
  9. HALF YEAR RESULTS 2010 – Awe Limited – slide 9
    Long term reserves ensure continued strong production Strong cash flow past 2020
  10. HALF YEAR RESULTS 2010 – Awe Limited – slide 10
    Near-field opportunities support production base
  11. HALF YEAR RESULTS 2010 – Awe Limited – slide 11
    Near field opportunities
  12. HALF YEAR RESULTS 2010 – Awe Limited – slide 12
    Growing in the Bass Basin
  13. HALF YEAR RESULTS 2010 – Awe Limited – slide 13
    Oil and gas discovery at Rockhopper
  14. HALF YEAR RESULTS 2010 – Awe Limited – slide 14
    Tui expansion Firm wells Tui-SW Kahu-1 March drilling following Hoki-1
  15. HALF YEAR RESULTS 2010 – Awe Limited – slide 15
    Casino expansion Developments of Henry and Netherby gas fields proceeding First gas March Ability to tie back additional discoveries in future
  16. HALF YEAR RESULTS 2010 – Awe Limited – slide 16
    Exploration
  17. HALF YEAR RESULTS 2010 – Awe Limited – slide 17
    Exploration Multiple opportunities for success this year and for future Current program is potentially transformational Any single success could be significant
  18. HALF YEAR RESULTS 2010 – Awe Limited – slide 18
    Taranaki Basin AWE holds commanding position North Cape oil play Hoki 1 drilling March 250 million barrel resource potential four follow up prospects Moki oil play Tuatara - 1 subject to approvals, including environmental 100…
  19. HALF YEAR RESULTS 2010 – Awe Limited – slide 19
    North Cape oil play Hoki - 1 will test this new play Multiple follow up prospects AWE already holds the follow up potential
  20. HALF YEAR RESULTS 2010 – Awe Limited – slide 20
    Indonesia: acreage consolidation coming to fruition Pinnacle Reef oil play Offsetting Kodeco development Liyun-1 drilling in June quarter 75 million barrel target Follow up exploration targets Includes AWE as operator gas…
  21. HALF YEAR RESULTS 2010 – Awe Limited – slide 21
    Kujung pinnacle and coalesced reef trend in Bulu and Terumbu blocks Kujung pinnacle reefs Kujung coalesced reefs
  22. HALF YEAR RESULTS 2010 – Awe Limited – slide 22
    Yemen Fractured basement play Drilling now. Result shortly Resource potential 25 million barrels
  23. HALF YEAR RESULTS 2010 – Awe Limited – slide 23
    and AWE is pursuing shale gas in the Perth basin AWE acreage contains three shale plays Kockatea Carynginia Irwin River Coal Measures Thick shales, large potential Robust WA gas market Woodada Deep Coring in March (AWE 100%)…
  24. HALF YEAR RESULTS 2010 – Awe Limited – slide 24
    FY2010 exploration, subject to change Well Name Basin Title Target AWE share Timing Australia Redback South-1 Perth L11 Gas 33.0% Gas discovery Trefoil-2 Bass T/18P Gas 47.5% Gas discovery Rockhopper-1 Bass T/18P Gas 47.5% Oil & Gas…
  25. HALF YEAR RESULTS 2010 – Awe Limited – slide 25
    Summary Strong base business performance Outstanding cash and balance sheet Increased equity in Bass Basin Exploration program has given some early success Big potential remaining in program Shale gas initiative launched
  26. HALF YEAR RESULTS 2010 – Awe Limited – slide 26
    what is shale a very fine-grained rock a source rock a seal for conventional traps has extremely low permeability up to 8-10% porosity Shale Shale Sandstone (conventional reservoir)
  27. HALF YEAR RESULTS 2010 – Awe Limited – slide 27
    what is shale gas shales that are thermally mature can contain dry gas gas is contained in pore spaces and also by adsorption (gas adheres to rock) very low permeability means gas is immobile without extensive fracture…
  28. HALF YEAR RESULTS 2010 – Awe Limited – slide 28
    US history Mid 2009 Shale Production (mmscfd) 1980s: shale appraisal commenced 1990s to 2000s: new technologies early 2000s: higher gas prices 2000s: Barnett commercial production production today = 9 BCF/d (out of 55 BCF/d…

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