Investor presentation Asian roadshow Delivering on a Focused Strategy NOVEMBER 2011
Investment Proposition 2 Growing OIL production from highly successful Western Flank exploration program expected in March quarter 2012 Near term cash flow from high margin, low risk exploration & development Significant WET GAS…
Drillsearch Snapshot 3 Key Data Cooper Basin focus Share Price (7 November 2011) 0.645 Only Cooper Basin independent with Shares on Issue 305M conventional & unconventional oil and gas Market Cap 197M exposure Cash (30 September…
Drillsearch Shareholding Structure 4 Pre Capital Raising Post Capital Raising
Cooper Basin - Three Growth Platforms 5 UNCONVENTIONAL WET GAS OIL Short, medium and long-term growth opportunities
Delivering on Promises 6 RESERVE GROWTH Significant increase to 2P Reserves OIL - Five Western Flank oil discoveries from six exploration wells and three successful appraisal wells with production expected in March quarter 2012…
Reserve Growth 7 Financial Year 2011 delivered: 887% uplift in 2P Reserves to Drillsearch Reserve Growth 8.5 mmboe 28.0 26.0 27.0 46% weighted to liquids 24.0 22.0 2P liquids Reserves increased 363% 20.0 22.6 to 4 mmboe…
Oil Business Potential Being Realised 8 Background Cost per well is low 2m for drilling + up to 2m for production facilities (100%) Low operating cost 24/bbl including transport Oil sales linked to Brent oil price High success…
Western Flank Indicative Well Economics 9 Mid Case: Namur Generic Well 800 80 700 70 Cumulative CF Millions A Production(bbl/day) 600 60 500 50 400 40 300 30 200 20 100 10 0 0 1 3 5 7 9 11 13 15 17 19 21 23 25…
Wet Gas Imminent Production 10 Background 10 existing wet gas discoveries (DLS share 50-100%) Cost per well is low 2.5m for drilling + up to 2.5m for production facilities (100%) Significant condensate and LPG production averaging…
Cooper Basin Unconventional 11 Well-understood basin Western Cooper Unconventional Known mature source rocks Multiple unconventional plays Known gas in unconventional targets PEL 91 Early exploration, coring and PEL 106…
Cooper Basin Landholder Impact 12 Very few landholders within Drillsearch permit areas No prime arable land Land generally desert - used for cattle grazing ATP 940P shale gas project area stakeholders include one land owner and…
Unconventional Business Huge Shale Gas Potential 13 Drillsearch and QGC formed 130M shale gas Joint Venture The Joint Venture hold 2,000km2 (494,209 acres) in the shale gas fairway Rich, thermally mature wet and dry shale gas…
Shale Gas Exploration Program 14 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…
Capital Requirements 15
Investment Proposition 16 Growing OIL production from highly successful Western Flank exploration program expected in March quarter 2012 Near term cash flow from high margin, low risk exploration & development Significant WET GAS…
Appendix 18
PEL 91 Western Flank Oil Fairway Drilling Program Underway 19 PEL 91 Snellings-1 drilling activity, June 2011 PEL 91 Bauer-3 rig move to Bauer-2, October 2011
PEL 106B Wet Gas Project in Progress 20 PEL 106B Middleton-1 Well Head PEL 106B Moonanga tie-in, October 2011 PEL 106B Moonanga Gas Field, October 2011
PEL 106B Wet Gas Project in Progress 21 Fiberspar Spoolable Pipeline System
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