Delivering on a focused strategy Presented by Brad Lingo, Managing Director 6 September 2011
Drillsearch Snapshot 9 Cooper Basin focus Key Data 9 Significant net acreage position covering Share Price 0.49 23,000km2 Shares on Issue 305M Market Cap 150M 9 Majority working interest and operatorship of permits (80%+) Cash…
Investment Proposition Huge unconventional gas reserve potential Significant wet gas resources in development Highly successful Western Flank oil exploration with significant oil reserves in development Active, fully funded work…
Drillsearch Delivers on Promises Delivered FOUR oil discoveries from five explorations wells in Western Flank Oil Fairway Strong cash position funding growth - 48 million capital raising Increased 2P gas and liquids Reserves by…
Significant and ongoing Reserves & Resources Growth A significant uplift of 887% in 2P gas and liquids Reserves to 8.5MMboe Further increases anticipated from Million barrels of oil recent PEL91 oil discoveries Next Reserves…
Three Growth Platforms Unconventional Wet Gas Oil Short, medium and long-term growth opportunities 6
Cooper Basin Acreage 7
Our approach to Cooper Basin Unconventional Drillsearchs approach is based on 5 key principles: Activity & investment targeted to EAD Life Cycle Focus on activity to establish the 3 Ps for the resource The 3 Ls Look, Listen & Learn…
Cooper Basin Unconventional Well-understood basin Western Cooper Central Cooper Unconventional Unconventional Known mature source rock Multiple unconventional plays Known gas in unconventional targets PEL 91 Early exploration,…
Unconventional Business Focus on Significant Shale Gas Drillsearch and QGC formed 130M shale gas JV DLS/QGC hold 2,000 km2 (500,000 acres) in the shale gas fairway Rich, thermally mature wet and dry shale gas plays EIA*…
Shale Gas Exploration Program Stage 1* Stage 2 Stage 3 FDD 2011 Jun 2013 Aug 2014 June 2016 25m 33m 72m Seismic Exploration drilling Production pilot testing 1,000km 2D seismic reprocessing Two vertical exploration Four appraisal…
Wet Gas Business Finalising off-take agreements Target production rate of 15-25mmcf/d (gross) raw gas including liquids starting December quarter 2011 Average liquids content 30-40BOE per mmcf raw gas Peak liquids content up to…
Oil Business Four discoveries from five exploration wells, seismic underway, additional drilling campaign planned Cost per well is low 2.0m for drilling + up to 2m for production facilities (100%) Low operating cost 24/bbl…
Western Flank Well Economics 14
Technology - The Changing Landscape Driving Success 3D seismic time slice in Patchawarra Ant-tracked slice in Patchawarra 15
Technology - The Changing Landscape Driving Success Structure post 3D Structure post 3D interpretation interpretation 16
Technology - The Changing Landscape Driving Success Impact 3D 17
Work program 18
Investment Proposition Huge unconventional gas reserve potential Significant wet gas resources in development Highly successful Western Flank oil exploration with significant oil reserves in development Active, fully funded work…
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