COMPANY SNAPSHOT Overview Key Metrics US Permian Basin and Gulf Coast, oil focused ASX Code TEX OTCQX Code (US) TEXQY Offices in Houston, Texas and Perth, Western Australia Shares on issue1 453.7m Producing oil & gas and generating…
FINANCIALS Consolidated Statement of Financial Position at 31 December 2013 and 30 June 2013 (A) 31 December 2013 30 June 2013 (Audited) CURRENT ASSETS Cash 1,070,093 1,537,700 Other assets 604,935 2,026,843 TOTAL CURRENT ASSETS…
ALIGNED BOARD AND MANAGEMENT BA, MA Economics and Law (Cambridge) Chris Rowe Over 35 years of legal and commercial experience in the oil and gas and resources sector 13.0m shares Chairman of ASX listed Northern Star Resources and…
CLEARLY DEFINED STRATEGY Targets strategy has three key elements which focus on proven oil basins, attractive well economics and partnerships. Strategy Aerial View of the Howard Glasscock Field, adjacent to Targets Permian Basin…
CONTENTS I. PERMIAN BASIN OVERVIEW I. PERMIAN BASIN OVERVIEW I. PERMIAN BASIN OVERVIEW II. TARGETS ASSETS III. VALUATION & CORPORATE Felderhoff rig drilling the Darwin 1 well August 2012 7
PERMIAN BASIN The Permian Basin is the largest hydrocarbon basin in the US, covering 52 counties and over 75,000 square miles. Location of Permian Basin Regional Map of Permian Basin 1 Target Energy Leases Howard County & Glasscock…
PERMIAN BASIN The Permian Basin is the most coveted hydrocarbon basin in the US because of its low risk, oilrich, stacked reservoir zones. Operational Overview Major Reservoir Target Zones in the Permian Basin (Midland Basin)1…
CONTENTS II. TARGETS ASSETS Pumpjack on Darwin Lease I. PERMIAN BASIN OVERVIEW II. TARGETS ASSETS III. VALUATION & CORPORATE Oil tanks at East Chalkley 10
PERMIAN BASIN FAIRWAY PROJECT Target retains its focus on the Permian Basin focused company and is committed to expanding its high quality portfolio. Map of Targets Fairway Project in the Midland Basin4 Location Howard & Glasscock…
PERMIAN BASIN FAIRWAY ACTIVITY Increasing drilling activity. Fairway Project Activity 2013 Fairway Project Gross Monthly Production Jan 13 Mar 14 (BOEPD) Darwin 1 online 700 Feb 2013 Darwin 2 online March 2013 Sydney 1 online 600…
PERMIAN BASIN FAIRWAY PRODUCTION GROWTH FY14 production and revenues are estimated to grow 2 3 times from FY13. Actual FY13 Average Daily Net Production after royalties Estimated FY14 Average Daily Net Production1,2,3 200 600 Over…
PERMIAN BASIN SHALE PLAYS DRIVING GROWTH Fairway is positioned in centre of two active shale plays. Activity and Success Targets Fairway Project relative to Apaches Permian Basin Interests1 Permian Basin has multiple (expanding),…
PERMIAN BASIN SHALE PLAYS DRIVING GROWTH Fairway Project Region Pad Drilling Example (courtesy Laredo Petroleum1 ) Notes: 1. Reserves estimate shown is derived by Laredo and is indicative of results that may be achieved from a 64 well…
SOUTH LOUISIANA PRODUCTION EAST CHALKLEY FIELD A new development well has been drilled on the East Chalkley field in Cameron Parish. The partners further plan to increase oil recovery through a waterflood. Schematic of the East…
OTHER PRODUCING ASSETS GULF COAST Targets wells in the Section 28 project have multiple bypassed pay zones which could be produced for minimal additional capital investment. Section 28, St Martin Parish, Louisiana Map of Targets Gulf…
CONTENTS III. VALUATION & CORPORATE I. PERMIAN BASIN OVERVIEW II. TARGETS ASSETS III. VALUATION & CORPORATE Wellhead at East Chalkley 19
RESERVES & RESOURCES Reserves assessment at Fairway has increased Targets 2P reserves by 887%. Oil constitutes 79% of 2P reserves. Targets Net Reserve & Resource Position1 Growth in 2P Reserves Net Reserves & Barrels of Oil 1,400…
CASH FLOWS WELL CAPITALISED The convertible notes issuance will see Target well capitalised to execute its 2014 drilling program. Comments 2014 Projected Cashflow Waterfall (USm) Operating cash flows: expected to rise materially as…
NEWS FLOW & POTENTIAL VALUATION MILESTONES Oil development wells should provide increased production, cash flows, potential reserves and strong news flow. 2014 Fairway Project News Flow Activity February March April May June July…
SUMMARY Production growth in the Permian Basin is expected to surpass all other US onshore basins Target Energy is one of very few Australian listed companies that has an established and growing foothold in this prolific basin.…
TARGET ENERGY LIMITED AUSTRALIA 6 RICHARDSON STREET, SUITE 5 WEST PERTH, WA 6005 T: +61 8 9476 9000 F: +61 8 9476 9099 USA 1900 ST JAMES PLACE, SUITE 425 HOUSTON, TEXAS 77056 T: +1 713 275 9800 F: +1 713 275 0999 TARGETENERGY.COM.AU 275…
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