Delivering on a focused strategy Presented by Brad Lingo, Managing Director 15 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…
Three Growth Platforms Unconventional Wet Gas Oil Short, medium and long-term growth opportunities 3
Investment Proposition Huge unconventional gas resource potential Significant wet gas resources in development Highly successful Western Flank oil exploration Fully funded exploration and development work program underway FY…
Delivering on Promises Oil - 4 Western Flank oil discoveries from 5 explorations wells Wet Gas - Putting into production existing discoveries Unconventional - 130 million shale gas JV with QGC Growth Program funded - 48 million…
Reserves & Resources Growth Significant uplift of 887% in 2P gas and liquids Reserves to 8.5MMboe 2P liquids Reserves increased by Million barrels of oil 363% to 4MMboe 2P Reserves 46% weighted to liquids Current…
Cooper Basin Acreage A Play Focused Approach 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 rocks Multiple unconventional plays Known gas in unconventional targets PEL 91 Early…
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 plus liquids starting Dec quarter 2011 Average liquids content 30-40BOE per mmcf raw gas Peak liquids content up to 180-200BOE…
Oil Business Four discoveries from five exploration wells New 3D & 2D seismic underway Expanded drilling campaign Dec Quarter 2011 Cost per well is low 2.0m for drilling + up to 2m for production facilities (100%) Low operating…
Western Flank Well Economics 14
Technology - The Changing Landscape Driving Success Impact 3D Source: The Department of Primary Industries and Resources SA 15
Work program 16
Investment Proposition Huge unconventional gas resource potential Significant wet gas resources in development Highly successful Western Flank oil exploration Fully funded exploration and development work program underway FY…
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