The Cooper Basin Basins s leading mid-tier mid tier Oil & Gas explorer p Delivering Transformational Growth Investor Presentation October 2010
Drillsearch A compelling p g investment For investors Drillsearch represents ... Material Cooper Basin footprint Control of our own destiny Existing oil producer Extensive low risk, high profit growth pipeline Significant…
Company p y Snapshot p Strong g Growth Pipeline p Chiton oil discovery Share Price FY 2010 20 October 2010 21 Oct 2010 Production Revenues 2P/2C Oil Reserves 6.3 cents A9.60m 12.7 MMboe +107% Market Cap Cash & Receivables…
Our Board Jim McKerlie Brad Lingo Managing Choo Beng Kai Fiona Robertson Ross Wecker Chairman Director Non-Executive Director Non-Executive Director Non-Executive Director Extensive experience as More than 25 years of Oil E…
Our management g Brad Lingo Managing Director With more than 25 years of oil and gas experience, Brad has been involved in all phases of the oil and gas business and project development, merger and acquisitions, financing and…
Our p past year y Delivering g on promises p Implemented strategic plan Enhanced asset portfolio Built on internal capabilities Exploration success B Booked k d significant i ifi t uplift lift in i Reserves and…
Cooper p Basin Reserves and Resources upgrade pg 107% increase in 2P/2C Reserves and Contingent Resources to 12.7MMboe over FYE 2009 93% increase in 2P/2C liquid hydrocarbons to 5.1MMboe over FYE 2009 Western Cooper Gas &…
The y year ahead high g impact p events 20062011 Drillsearch 2P/2C Reserves & INP Merger 5-well 5 ll New N Oil Resources 40M Drilling Program 40.0 35.0 30.0 25.0 20.9 MMBOE 20.0 15.0 0.4 Risked Unrisked…
Why y the Cooper p Basin Reasons to invest Under-explored High Hi h exploration l ti success rates t Low cost / High profit Short cycle time to first cash flow Ready access to key services services, contractors…
How the Cooper p Basin stacks up p Deep / Re 1000 Well cost - low Well cost - medium Well cost - high g emote / O Browse Deep Water 100 Field size (MMboe) Timor Sea Offshore / Onsho Bass Gippsland 10…
Our four businesses How we do it The Business Pipeline Core Assets The Business Make-up High profit oil New Oil Western Flank Oil Fairway Development p of significant g undeveloped p oil Non-operated long-term oil…
Our four businesses in the Cooper p Basin Unconventional Value Wet Gas New Oil Mature Oil Short term Medium term Long term 12
Transactional g growth Innamincka ((INP)) merger g Proposal INP to merge with DLS via a scheme of arrangement Offer Terms 2.5 25D Drillsearch ill h shares h ffor each h IInnamincka i k share h Other Unanimously…
Innamincka Merger g The Post Merger g Footprint p 14
The Combined Groups p Oil Focus 15
Innamincka Merger g Timetable 8 September 2010 Announcement 20 October 2010 Scheme booklet lodged with ASIC First Court Hearing Date to approve scheme 8 November 2010 documentation and convene Scheme Meeting Scheme documentation…
Our key y messages g People, p , Projects j & Plan Focused on Unique acreage position high value, high profit oil Organic O ga c Growth Go t across the portfolio High profit New Oil Wet Gas & Liquids Development Emerging…
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Delivering results new discoveries & Reserves & Resources growth Re-invigorated Company growth 107% Yr-on-Yr 2P/2C Reserve growth 188% Yr-on-Yr 2C Liquids Reserve growth Strong focus on high profit oil Focus on core Cooper Basin…
Delivering g results Combined DLS/INP Reserve & Resources Gas Oil 21
Our new oil business Major position in Western Flank Oil Fairway PEL 91 DLS (60%) / Beach (40%-operator) 22 MMBbls (DLS Net) Total Mean Unrisked Prospective Resource Chiton 1 oil discovery in production Chiton-1 Facilities to handle…
Western Flank Oil Fairway y 5 well exploration p p program g 5 well exploration program targeting both Namur and Birkhead Channel oil targets 2010 PEL 91 Drilling Program Prospect/Play Unrisked Recoverable Resource Prospect…
New Oil attractive economics Return on investment for Cooper Basin exploration is very high Cost per well is low - 1.8-2.0m for drilling + up to 2m for production facilities (100%) Low operating cost - 24Bbl including transport…
Our wet g gas business DLS PEL 106 (100%) except Beach Farm-in Area (50%) 10 gas/condensate discoveries 4 discoveries declared commercial Gross 2P/2C Reserves of 18 MMboe booked DLS net 11.52 MMboe / 4 MMboe liquids High liquids…
Canunda Exciting g New Liquids q Discovery y D li Delivering i 2C R Reserves off 6 6.8 8 MMb MMboe Major liquids discovery (62 API) 2C Liquids Reserves alone = 1 MMBbls DLS share = 500,000 Bbls liquids Currently under…
Wet Gas Significant g liquids q drive economics Wet Gas business is driven by high light oil/condensate/LPG content of discoveries Typical discovery contains 30-40 boe light oil, condensate, LPG per mmscf of raw gas Cost per well is…
Wet Gas value stream liquids q cash flows Discovery contains 30-40 Bbls (boe) of Notional Wet Gas Well Daily Cash y condensate & LPG per mmscf raw gas Flow 100,000 16.2M* Wet Gas wells produce 5-12 mmscf/day on 90,000 3 wells…
Our mature oil business Tintaburra Block DLS Core Oil Production 7.1 MMBbls 2P Reserves (100% - 30 June 2010) Primary production asset 11 producing fields No drilling planned through 2011 Profitability improving Mature Oil…
Our unconventional business Western Cooper Unconventional Deepp Coal Seam Gas BPT Encounter-1 well Large positions in 2 resource plays Tight gas, deep CSG, shale gas & significant tight oil potential Western Cooper Deep…
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