May 2009 Energy resources and oil & gas, in particular are the most basic necessity for economic activity
A focus on fundamentals: Earnings, cash flow & gearing Growth strategy Long term production and reserves A balanced exploration portfolio Thinking ahead of the pack
LPG Gas Gas Liquids Processing Shale Pipelines & and other Export gas resources Facilities Conventional Natural Gas Geothermal Power Beach A Diversified Energy Provider Greenhouse Crude Oil Gas Sequestration
West Flank East Flank Offshore Surat Basin Cooper Cooper Cooper Gippsland (Tipton Basin JV (Bodalla (PEL 92) (BMG fields) West CSG) (Delhi) Block) 2001 2002 2004 2006 2006 Farmin cost of 35 Acquired for 530 Found 8 mmb to Initial…
1. Cooper oil & gas Record production of both oil & gas Currently 27,200 boe per day A ROBUST PRODUCTION BASE CONSISTING OF (40% oil & 60% gas) net to BPT Very large contingent gas resource of 262 mmboe MORE THAN 1200 WELLS PRODUCING…
Production Record half year 5 MMBoe 10 Million barrels of oil equivalent March Quarter production: 9 27,000 barrels of oil 8 equivalent per day (average) 7 10,342 barrels of oil per day 6 (average) 5 85 million cubic feet of…
REVENUE SPLIT IN 1H FY09 COMMENTS Sales revenue up 34% to334 million in 1H FY09: Sales up 48%, excluding third party purchases Oil provides 60% of petroleum revenue: Oil production up 30% and AUD realised oil price up 6% to…
For 1H FY09: NPAT up 117% to 127.5 million Operating cash flow 31% increase to 68 million Cash position of 139 million at 31 December 2009 - Net Debt gearing of 4.6% Subsequent events: Sale of Tipton West Continued dividend…
Oil prices are lower Remember when we thought that US20 per barrel was good or if it would ever reach US30 per barrel
Average Oil Price Received Oil & Gas Revenue 120 600 100 500 80 A/bbl million 400 60 300 40 200 20 100 0 0 FY05 FY06 FY07 FY08 FY09(f) FY05 FY06 FY07 FY08 FY09(f)
An important asset with new long term life potential
Beachs Cooper Basin Reserves 238 PJ & 15 MMbbl (63 Mmboe at 31 Dec 08) March Quarter production: Oil 7,875 bopd Gas 73 TJ / day 20,000 boepd Forecast Annual Production (FY09) 5.9 MMboe of Gas & Gas Liquids 2.6 MMbbl of oil (…
HIGH PROFIT OIL CALLAWONGA-PARSONS AREA 8 mmb discovered to date 50% Exploration Success Rate F&D Cost 10/bbl (7 yr average) Production Costs 25/bbl 6 well program commencing May
A large unconventional gas Three main sources in addition to further conventional resource to meet increasing gas gas in areas adjacent to Moomba: demand while reducing carbon Shale gas emissions overall Tight gas Deep coal gas An…
North Shadwan Concession Beach 20% Operator BP Southeast July Concession Beach 20% Operator Santos/Dana South July -1 P&A Further drilling planned FY10
Nearshore Fields (377 & 385) to be developed Fy10 Net Reserves 2mmb First Oil late 2009 CAPEX 10 million (net) Teen-1 to be drilled 2H 2009
Burtocal discovered 2007 Burtocal-2 resulted in oil column intersection, but further drilling required to prove commerciality/development plan Further drilling in 3rd/4th quarter to assess adjacent fault blocks Potential 5 mmb (net…
Surat Basin Coal Seam Gas Tipton West Coal Seam Gas 2P Reserves 467 PJ 3P Reserves 1,115 PJ Sale to Arrow Energy announced Cash 260 million AOE Shares 70 million Deferred Payments 70 Total up to 400 million Completion…
Beach 30% March quarter production averaged 2,465 bopd (net) Remaining Oil Reserve 18 MMbbl (5 MMbbl net to Beach) Gas Resource - 249 PJ 1 well planned for FY10
Geothermal Exploration Paralana Project Beach 21% Paralana-2 well to be drilled mid 2009 to demonstrate geothermal energy resource and assess permeability Paralana-3 (contingent) in 2010 to assess circulation capacity If…
Exploration Objective: a balanced portfolio 60:30:10 (low: moderate:high risk) Exploration in the vicinity of proven production generally regarded as constituting low to moderate risk Higher risk categories are typically in frontier…
Targeted Risk Balance 60% low risk 40% medium risk 10% high risk Forecast average annual expenditure 50 million/year Cooper 25 million Other Australia 10 million International 15 million
Cooper 50 wells (50% oil / 50% gas) Offshore Australia 2 wells (Bass & Browse) Egypt 7 wells (4 expn / 3 devlt) Geothermal 2 wells Key Exploration Drilling PEL 92 (6 wells) May September Spikey Beach-1 September () North…
Reserves Reserves Growth 150 100 Surat Gas MMboe Reserves (at 31 December ) 20 MMbbl of Oil Cooper Gas 50 222 PJ of Conventional Gas Oil 462 PJ of CSG 7 MMboe of Gas Liquids 0 FY06 FY08 FY09 FY07 H1…
Reserves Outlook 160 Tipton sale will 140 reduce reserve base by 76 mmboe 120 MMboe 100 Partially offset by CSG 80 Gas increased Cooper & Egypt oil reserves 60 Oil 40 But .. 20 0 FY06 FY07 FY08 FY09 (f)
Reserves Outlook 278 MMboe in contingent gas 300 resources 250 Cooper Gas Resource far BMG Gas exceeds the Tipton CSG 200 Unconv. Gas volume 150 Conv. Gas Tipton 76 Mmboe Cooper 83 Mmboe CSG (conv.) & 179 (unconv.) 100 Gas Oil…
Loading...
