Beach Energy Limited Cooper Basin Shale Gas IIR 2010 Shale Gas Briefing Brisbane, 30 March 2010 Gordon Moseby General Manager Production and Planning 1
Todays presentation Cooper Basin shale gas: Technical attributes Resource potential Whats happened in the US Why Beach is positioned for success 3
Beach Energy Limited (ASX : BPT): A compelling value proposition 2P reserves of 66 MMboe Strong base Sustainable long-term oil and gas production business FY 2010 production guidance of 8.0 MMboe 118 million cash and zero debt*…
The base business: Cooper Basin production, development & exploration Cooper Basin is a key supplier of onshore oil and gas to eastern Australian markets: Diversified asset, product and market mix Beach participates in…
Expanding the base business: Positioning for long-term Australian gas supply Beach is seeking to grow its base gas business in eastern Australian markets from the Cooper Basin Good long-term growth opportunities for eastern…
Cooper Basin: Significant shale gas potential Early identification of Cooper Basin shale gas potential Captured prospective acreage with high equity participation Huge resource potential: Comparable to combined NSW and…
Nappamerri Trough: Potential gas in place greater than 200 Tcf Extensive and thick shale packages Similar properties to the best US shale plays Nappamerri Trough total area 10,000 km2 Potential gas in place 20 100 Bcf/km2…
Why the Nappamerri Trough Geological properties Thick shale sequence 150m thick over 10,000 km2 Organically rich 5% Total Organic Carbon (TOC) Gas prone Proven Thermally mature Proven Overpressure Proven Tight gas sands Potential…
Nappamerri Trough: Thick Early Permian shale sequence Resistivity Sonic 50-70m Roseneath Shale 90-140m Epsilon Formation 70-80m Murteree Shale Patchawarra 10
Roseneath - Epsilon - Murteree (REM) package: Extensive and thick deposition Thickest section is PEL 218: REM Isopach located in the centre of the trough where Beach has high equity interests Well control on flanks and highs of…
Nappamerri Trough: Geographical context vs US basins Cooper Basin Nappamerri Trough 12
Nappamerri Trough shales compare favorably with US shale gas plays Parameter Barnett (TX) Fayetteville Marcellus- Haynesville, Cooper Basin (AR) Appalachian LA Nappamerri (NE USA) Trough Depth (ft) 5400 - 9600 1200 - 7500 1500 -…
The initial test: Holdfast-1 exploration well Well spud planned for July 2010 Vertical exploration well Gas in place (GIP) measurement a key objective: Extensive coring Evaluate gas content of shale Determine porosity and free…
Cooper Basin shale gas: Indicative shale gas development timeline Pilot BOOK FIRST GAS Holdfast-1 production Pilot SALES Design pilot BOOK GAS GAS vertical well development production RESOURCE RESERVE exploration well Q2 well…
Multiple long-term shale gas market options Good prospects to increase Existing Cooper Basin supply over time customers extension contracts New domestic gas supply Existing opportunities include: customers Export LNG…
When will Cooper Basin shale gas value recognition occur Some recent US shale gas transactions Deal Location Date Acres Value Mitsui - Anadarko Marcellus Feb 10 100,000 US1.4b Total - Chesapeake Barnett Jan 10 270,000 US2.25b…
Positioned to become a leading Australian shale gas producer Australian shale gas is an emerging game changing opportunity - and Beach is at the forefront of its development Nappamerri Trough is highly prospective with enormous…
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