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IPAA OGIS SAN FRANCISCO – Target Energy Limited

Target Energy Limited · Sep 24, 2014 · 22 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. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 1
    TARGET ENERGY LIMITED IPAA OGIS SAN FRANCISCO 24 SEPTEMBER 2014
  2. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 2
    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…
  3. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 3
    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…
  4. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 4
    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 Chairman of ASX listed Northern Star Resources and Hawkesbridge Private…
  5. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 5
    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 leases…
  6. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 6
    CONTENTS TARGETS ASSETS Oil tanks at East Chalkley 7
  7. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 7
    PRODUCING ASSETS IN TEXAS AND LOUISIANA Active in West Texas and the Texas & Louisiana Gulf Coasts Target Energy US Assets Section 28 St Martin Parish, La East Chalkley Cameron Parish, La Merta Wharton Co, Tx Fairway Howard County…
  8. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 8
    WHY THE PERMIAN BASIN GO WHERE THE OIL IS Spraberry / Wolfcamp field in the Permian Basin is the worlds second largest oil field. Worlds Largest Oil Fields (BBOE) 1,2 100 160 90 80 Total Recoverable Resource 70 60…
  9. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 9
    PERMIAN BASIN The Permian Basin is the most prolific and coveted onshore basin in the US. Regional Map of Permian Basin 1 Current daily production: 1.3 million barrels of oil and 4 billion cubic Target Energy Leases feet of gas; more…
  10. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 10
    STACKED PAY, THE KEY DIFFERENTIATOR Stacked pay increases the volume of oil in place and reduces risk. A comparison of resistivity logs in US shale oil plays Stacked pay: Midland Basin resistivity logs illustrate (in red) multiple…
  11. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 11
    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…
  12. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 12
    PERMIAN BASIN FAIRWAY PROJECT Prospectivity in the Permian Basin is evidenced by high levels of drilling activity. Map of Targets Fairway Project in the Midland Basin 2,914 new wells drilled Regional below 6,000 ft in Howard Activity…
  13. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 13
    PERMIAN BASIN FAIRWAY DEVELOPMENT PLAN Multiple potential completions per well.1 Phase 1 Fusselman Phase 2 Wolfberry Cline Upside 3,900 -5,700 Clearfork 3,900 -5,700 Clearfork 3,900 -5,700 Clearfork Upper Spraberry Upper Spraberry…
  14. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 14
    PERMIAN BASIN FAIRWAY ACTIVITY The accelerated pace of drilling is starting to show through increasing production figures. Fairway Project Planned Activity 20141 Fairway Project Gross Quarterly Production FY14 (BOEPD) 300 Wagga Wagga…
  15. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 15
    PERMIAN BASIN FAIRWAY PRODUCTION GROWTH Cash margins are strong at Fairway and production is estimated to rise c.160% by the end of 2014. Lease Operating Expenses, Taxes and Cash Margins (/boe) Estimated Average Daily Net Production1,2…
  16. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 16
    PERMIAN BASIN SHALE PLAYS DRIVING GROWTH Fairway is positioned in centre of two active shale plays. Map of Apaches Permian Basin Interests1 Execution - Pad Drilling Example (courtesy Laredo Petroleum) 2 Targets Fairway Project…
  17. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 17
    OTHER ASSETS - EAST CHALKLEY FIELD Partners plan to increase oil recovery through a waterflood. Schematic of the East Chalkley Field, Cameron Parish Acres Held 714 gross / 250 net Working Interest 35% Operator Magnum Hunter…
  18. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 18
    CONTENTS CORPORATE Wellhead at East Chalkley 19
  19. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 19
    RESERVES & RESOURCES 2014 Reserves assessment has increased Targets 1P reserves by 20%. Oil constitutes 66% of 1P and 2P reserves. Targets Net Reserve & Resource Position1 Growth in 1P Reserves Net Reserves & Barrels of Oil 800…
  20. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 20
    CASH FLOWS Production and cash flows are expected to grow strongly in the second half of CY14. Comments Projected Cashflow Waterfall, June to December 2014 (USm) Operating cash flows: expected to rise materially as new wells 12.0…
  21. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 21
    SUMMARY Target Energy remains active with a 10-well drilling program underway in our Permian Basin Fairway Project a 150% increase over our 2013 activity Expect to have 17 wells in production at Fairway by the end of 2014, which…
  22. IPAA OGIS SAN FRANCISCO – Target Energy Limited – slide 22
    TARGET ENERGY LIMITED USA 1900 ST JAMES PLACE, SUITE 425 HOUSTON, TEXAS 77056 T: +1 713 275 9800 F: +1 713 275 0999 AUSTRALIA 6 RICHARDSON STREET, SUITE 5 WEST PERTH, WA 6005 T: +61 8 9476 9000 F: +61 8 9476 9099 TARGETENERGYUSA.COM 275…

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