October 2012 Investor roadshow - March 2012 October 2012 Beach Energy Limited Slide 1
Strategic, operational and financial overview October 2012 Slide 3
Company overview ASX 100 company Market Cap 1.7 billion* Financial FY12 NPAT of 164 million Cash at 30 September 2012 of 352 million Nil debt, 2017 convertible note of 150 million Undrawn 150 million multi-option finance…
2P reserves, 2C contingent resources and production 2P reserves 93 MMboe1 Actual and forecast production 9.0 MMboe 8.5 MMboe 7.5 MMboe 6.6 MMboe Gas* 2C resources 466 MMboe1 Gas* 4.8-5.0 MMboe (28-29 PJe) Gas* 4.8 MMboe 4.5…
Key FY13 operational activities October 2012 Slide 6
FY13 Capital expenditure guidance Forecast FY13 FY13 FY13 reserves Forecast Forecast Forecast Seismic additions Capex (M) Wells 2D km 3D km2 MMboe DEVELOPMENT Cooper Basin non-SACB JV 50 60 15 20 Cooper Basin SACB/SWQ JV 100…
The Eastern Australian gas market opportunity October 2012 Slide 8
Strategically located acreage Beach is well placed to supply gas to the market for generations to come October 2012 Slide 9
Eastern Australian gas markets are growing Projected east coast total demand The clean energy future is likely to incorporate a larger role for natural gas Gas demand for domestic market and LNG projects expected to grow to 3,000…
Cooper Basin a potential supply option for LNG 80% of east coast 2P reserves are Gladstone based LNG projects owned by parties developing LNG projects or with LNG aspirations Industry commentators suggesting gas prices trending…
An unconventional and logical thought process October 2012 Slide 12
PEL 218 and ATP 855P Commanding acreage position with multiple targets to be addressed October 2012 Slide 13
Unconventional gas program to date PEL 218 1,600 km2 Beach 100% (Permian) Four vertical wells drilled Gas flow from first two wells up to 2 MMscfd per well Fracture stimulation of Moonta-1 and Streaky-1 imminent ATP 855P 1,670 km2…
Things you can find in your own backyard A relatively under-explored part of the Cooper Basin with enormous potential October 2012 Slide 15
Shale and basin centred gas play Gas saturation expected through the Permian zone of the Nappamerri Trough October 2012 Slide 16
Beach operated program highlights to date Holdfast-1 and Encounter-1 gas flows up to 2.1 MMscfd, post fracture stimulation Seven stage fracture stimulation for Holdfast-1 and six stage for Encounter-1 Logs from Moonta-1 and…
FY13 unconventional drilling program October 2012 Slide 18
Dominant Western Flank acreage position October 2012 Slide 19
Western Flank Cooper Basin 2013 net production target of 9,000 to 10,000 bopd from the Western Flank October 2012 Slide 20
Western Flank oil Western Flank oil is a core contributor to Beach due to: Sales in Brent High net back per barrel of A80* (including opex, royalties and transportation costs) Strong equity positions Quick drill and tie-in periods…
PEL 91 Beach 40% (operator), Drillsearch 60% Bauer potential recoverable oil of 10+ MMbbls Production of 1,000 bopd (gross) from Bauer-1, targeting 10,000 bopd (gross) in Q2 2013 Hanson facility expected to be on-line Q1 2013 Chiton…
PEL 92 Beach 75% (operator), Cooper Energy 25% Current gross production of 4,500 bopd Gross production expected back at 6,000 bopd upon completion of Lycium-Moomba trunkline Butlers-2, -3, -4, Parsons-5, Germein-1 and Elliston-1…
PRL 15, PEL 104, PPL 240 and PEL 111 Beach 40%, Senex Energy 60% (operator) Current gross production of 5,000 bopd from Growler and 350 bopd from Snatcher Oil discovery at Mustang-1, 800 bopd (gross) flowed from a controlled initial…
PEL 106B and PEL 107 PEL 106B Beach 50% (operator), Drillsearch 50% First production in FY12 from the Middleton / Brownlow production licence Initial gross flow rates of 25 MMscfd (15 TJd sales gas and 325 bbld LPG and condensate)…
International October 2012 Slide 26
International overview Attractive royalty based fiscal North Shadwan regime and farm-in terms Est Cobalcescu offshore block Near shore oil field NS 377 producing 1,000 km2, block-wide 3D seismic NS 385-1 development well spudded…
Tanzania Lake Tanganyika South Block A significant acreage position in the prospective East African Rift October 2012 Slide 28
2D seismic survey Natural oil seeps in the Lake Tanganyika south block (7,200 km2) indicate a working petroleum system Potential for large discoveries ( 200 MMbbl) Airborne gravity and hi-resolution aeromag data acquired in 2010…
Lake Tanganyika South Block potential play types Potential targets from recently acquired 2D seismic, red = gas, green = oil Direct hydrocarbon indicators consistent with an active petroleum system October 2012 Slide 30
Egypt A balanced portfolio of assets with growing oil production October 2012 Slide 31
North Shadwan concession Beach 20%, BP 50% (operator), Tri Ocean 30% NS 377 and NS 385 Near shore field NS 377 producing 700 bopd (gross) via pipeline to Ras Ghara facility NS 385-1 development well spudded Total oil production…
Abu Sennan concession Beach 22%, Kuwait Energy 50% (operator), Dover Investments 28% Four exploration wells successful, with combined total gross flow rate of 12,000 boepd (gross) New three well exploration program approved:…
Mesaha concession Beach 15%, Melrose 40% (operator), Hellenic 30%, Kuwait Energy 15% The largest concession area in Egypt at 42,700 km2 Possible rift basin similar to Gulf of Suez Potential for very large oil fields (100…
Romania Est Cobalcesu block Post Beach farm-in: Beach 30%, Melrose 40% (operator), Petromar 30% Est Cobalcescu block is 1,000 km2, with 3D seismic over block being processed Water depth < 100 metres Potential for both oil and gas…
Appendices 1. General 2. Other operations October 2012 Slide 36
The Cooper Basin October 2012 Slide 37
Advantages of Beachs Cooper Basin acreage Co-operative not competitive land use with pastoral owners and stakeholders Semi-desert country Relatively flat topography Well established gas infrastructure Three cemented casing strings…
Next steps unconventional program Drill vertical delineation wells to appraise shale and basin centred gas accumulation Design and drill horizontal wells Expand drilling program with up to six horizontal wells around Holdfast-1 and…
Other operations October 2012 Slide 40
Other unconventional opportunities Otway Basin Conventional plays proven gas, Significant acreage positions in other (Beach 35-67%) condensate and oil prospective basins Moderate to high TOCs Further potential for gas and liquids Gas…
Bonaparte Basin Beach earning up to 90% of onshore and up to 55% of offshore areas Underexplored to date due to lack of quality modern seismic Conventional and deep unconventional targets Highly prospective as a result of:…
Otway and Gippsland basins Otway gas and liquids Beach 35-67% Conventional plays proven gas, condensate and oil discoveries Casterton main source rock, Map with troughs shown and with most attractive permits outlines…
Contact Information Head office 25 Conyngham Street Glenside SA 5065 Tel: +61 8 8338 2833 Fax: +61 8 8338 2336 Website: www.beachenergy.com.au Chris Jamieson General Manager Investor Relations Tel: +61 8 8338 2833 Mob: +61 8 (0)487 173…
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