Beach Petroleum Limited The Good Oil Conference 5 September 2007
1 Corporate Overview 2 Key Revenue Earning Projects 3 Strategy for Growth 4 Outlook
Large & Growing Energy Company Beach Petroleum during FY07: A top Australian energy company ASX200 Market capitalisation of over 1 billion Major investment in Cooper Basin & infrastructure supplies over 20% of Cooper Basin gas…
Gas LPG Processing Coal Seam Gas Liquids Gas Pipelines & Natural Gas Export Facilities Beach A Diversified Energy Provider Developing Crude Oil Geothermal Power
Large Infrastructure Holdings Feasibility study for CO2 Geosequestration: cryogenic Large Scale gas processing Potential plant Moomba Plant Ballera Gas Gas & Liquids Processing & Processing Distribution Distribution…
Historical Growth: 2002 - 2006 Gross Revenue Increased Production 200 million p.a. Concept Year on year 150 100 50 0 FY02 FY04 FY06 Production mmboe p.a. EBIT 1.5 million p.a. 60 1 40 Concept 20 0.5 0 FY02 FY04…
Production Surge: 2006 - 2007 Oil and gas sales up 275% to 472.2 million Gross Revenue Production Gain on sale of BMG - 71 million 500 400 million p.a. Surge 2006-07 Net gain on currency hedges - 11.5 million 300 200…
Main Strengths High Strong, Revenue Revenue Highquality quality Strong, proven from Australian provenvalue value from33key key Australian eastern adding producing easterncoast coast adding management producing portfolio…
Diversified Reserves Distribution 62% 500 KM Oil 31% Liquids Gas Proved and 7% Probable Reserves of 90 million boe GLADSTONE Proved & Probable Reserves at 1 July 2006 JACKSON BRISBANE MOOMBA BALLERA TAMWORTH Large…
Reserves & Upside Potential 180 160 140 2P reserves (mmboe) Reserves potential upside 120 BMG Gas/Condensate 100 Cooper Oil Program 80 FY08 Tipton West CSG 60 Present 2P 40 20 0 Beach has upside exposure over 3 to…
Beach Petroleum Limited Key Projects: Cooper Oil, Gas & Gas Liquids Queensland Coal Seam Gas BMG (offshore Gippsland) Gippsland) Oil & Gas
Cooper-Eromanga Basin Kenmore & Bodalla South the precursor to the Cooper Oil Program Bodalla Block Beach 100% Naccowlah Block Christies/Sellicks Cooper Basin Beach 38.5% Beach 75% Joint Ventures Beach 21% Oil to…
Cooper Basin Revenue Drivers Gas and Long term gas contracts Gas Liquids Strong & Stable revenues: Robust Beach economics Operated Production of 1 mmbbl p.a. Delhi reserves Oil acquired for 8.65/boe Potential for…
Highly Profitable Cooper Oil High Netback Oil Production Production for the first half year of FY07 was 1.63 mmbbl (approx. 60% Average free cash of Beach-operated) AUD53.73/bbl at oil price of AUD86.45/bbl Chart shows…
Cooper Basin FY07 Highlights Callawonga Oil Field Bodalla South Field extension Discovered July 06 Two new wells drilled on 3D Reserves 1 mmb (net to Beach) seismic 3D seismic suggests significant Northern portion of field…
Cooper Oil Project (COP) Intensive exploration, Building high value appraisal & development reserves additions Targeting up Potential to Near & within Average to 15 mmbbl add NPV of existing Beach net to Beach up to oilfields…
COP Program for 2007-08 Naccowlah Block (BPT 38.5%) 41 wells 155 wells BPT 24% Potential to add 3-5 mmb 3000 bopd Other SA & Qld 105 wells (BPT 20%)
Queensland Coal Seam Gas 174 Tipton West (Dalby Block): BPT 40% Proved & Probable reserves of 174 PJ Possible (3P) resource of 2300 PJ 2300 2P Developed & Contracted 3P Potential Close to markets & pipelines abutting main…
Tipton West Coal Seam Gas Phase 1 Development 82 wells: Development Drilling Completed Gas Sales Commenced in February Target Rate 30 TJ/day Contract for 10 PJ/yr for 15 years Possible resource in Dalby Block of 2300 PJ Strong…
Tipton West Coal Seam Gas Important expansion development over FY08 Three pilot projects planned Objective to increase reserves by 8% more than 200 PJ (14 mmboe 9% net to Beach) Undeveloped/ uncontracted 83% 2P…
Basker-Manta-Gummy (BPT 40%) Significant increase in reserve estimates following development drilling: Oil 2P reserves nearly double original estimate Gas-condensate resource nearly quadrupled Sold a 10% interest (June 07) to…
BMG Reserve/Resource Estimates Oil Reserves 13 39 77 Gas Resource 20 63 137 Condensate Resource 66 19 47 P90/P50/P10 estimates* Total 39 121 261 Reserves/Resources 0 50 100 150 200 250 300 Million barrels of oil…
BMG: Increase in Reserves 2006 Development Drilling increased size of Basker Field Increases to Oil Reserves & Gas Resource Wells drilled to date tend More Moredrilling drilling to be nearer the crest of required…
BMG: Current Status Current Status Production Commenced December 2006. Higher than expected Gas-to-Oil ratio probably due to wells located higher on what now seems to be a much larger structure. Cumulative Production (100%)…
BMG: Further Oil Development Up to 3 further Basker Wells addressing 15mmb of undeveloped 2P reserves Drilling .. Basker-6 in late 2007 (remainder mid 2008) Basker-6 expected to be online early 2008 Export and sales of gas…
Beach Petroleum Limited High Impact Exploration Projects
High Reward Exploration Offshore Bass Basin (BPT 50-80%) Spikey Beach-1 and Peejay-1 scheduled for 2008 Offshore Taranaki Basin (BPT 20%) Kopuwai-1 scheduled for 2007 Offshore Otway Basin (BPT 50%) Drilling in Vic/ P46…
Bass Basin - Oil Similar hydrocarbon system to Gippsland Basin (BMG Project). Proven Hydrocarbon System. Location near basin edge Possible (P10) oil prone. reserves of 33 mmb Possible (P10) 50 km offshore. reserves of…
Taranaki Basin (NZ) PEP 38482 Kopuwai Possible (P10) recoverable 155 mmb AWE oil development 30mmb Location 60km offshore 137m water depth Southern Taranaki Basin OMV oil Maui has proven source kitchen development…
PEP 38482- Kopuwai Prospect Area = 44km2 Relief = 70m Depth to target = 3830m. Pr. Kopuwai-1 Location near Tui oil prone. TD = 4200m to intersect Basement. Potential P10 reserves = 155 mmb. Prospect Risk = 16% Drill with…
Offshore Otway Basin Gas VIC/P46 Beach 50% Target size: approx. 1200 PJ gas Fermat Prospect
Large Gas Liquids Potential NZ Beach 20% Lightly explored Working petroleum system /good reservoir sands demonstrated by sub- commercial gas/condensate discovery (Galleon-1) and good shows in Cutter-1 Barque Significant…
Beach Petroleum Limited Growth Opportunities & Outlook
Strategies Build gas portfolio around eastern seaboard pipeline network Realise value for Coal Seam Gas assets with LNG 800 PJ Possible Reserves Potential (pure CSG companies are reflecting on average 0.54 per GJ applied to BPT…
Spot Gas at Unprecedented Prices Spot gas prices in 2007 winter: Average 25/GJ in eastern Australia Peak sales at 400/GJ Ex-Moomba prices 35/GJ Contributing factors: Delays in new supplies Colder than average winter Storage…
Geothermal Exploration Beach farming in to earn 21% interest in 4 geothermal exploration licences in SA Contribute up to 10 million to drill 1 -2 wells to demonstrate hot rock energy resource Can contribute a further 20…
Large Scale CO2 Storage Long term carbon storage hub in depleted gas reservoirs in Cooper Basin: Large scale ( 20 million tpa) large capacity (400 million tonnes) Secure storage solution for eastern seaboard CO2 emissions…
Outlook for FY08 Production 10 mmboe 35% Oil Development: Basker Oil Development Manta-Gummy Gas Appraisal/Development Tipton West CSG Expansion Callowonga Oil Appraisal Drilling & Flowline Exploration: Total of 200 wells in…
Over 200 wells COOPER COOPER/ EROMANGA 1414 Beach / EROMANGA BASIN BASIN BeachOperated OperatedWells Wells programmed 8787 SA 1818QLD 11Stuart Stuart Cooper Operated OperatedWell Oil SA Cooper Oil Cooper Oil Program…
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