Navigating in Uncertain Times A focus on fundamentals: Earnings, cash flow & gearing Growth strategy Long term production and reserves A balanced exploration portfolio Thinking ahead of the pack
Beach Strategy Consistent, targeted growth Long term cash flow production and reserves Value investor Thinking ahead of the pack Early entry, low risk, high return Emerging technologies (eg carbon debate, geothermal) Balanced…
Beach Strategy Consistently Creating Value 2001 Western Flank Cooper Basin PEL 92 (75%) 8 mmbbl discovered, net return to date 100m 2002 East Flank Cooper, Bodalla Block Acquired for 18m, net return to date 100m 2004 Offshore…
Delivery Timetable Consolidation of Cooper Basin ownership Researching new technologies Unconventional gas Carbon sequestration Geothermal power Nil effective debt as of May 2009 50m pa Exploration Program Region Cooper Basin W…
Financial Position Six months to Dec 2008 NPAT up 117% to 127.5m Operating cash flow 31% increase to 68m Cash position of 139 m at Dec 2009 - Sensitivities on Realised AUD Oil Price 120 Net Debt gearing of 4.6% Sales revenue up…
Operations Update Cooper Basin Reserves 63 mboe at Dec 08 (238 PJ & 15 mmbbl) Production Approx 20,000boepd Oil 7,875 bopd Gas 73 TJ / day Forecast 8.5 mmboe pa (Cooper only) Profit Margin Gas 20/boe Oil 50/bbl CAPEX 85…
Operations Update Gippsland Reserves (BPT 30%) Net 5 mmbbl, Dec 08 Production Net 2,500 bopd Gas Resource - 249 PJ Basker-7 planned for early FY2010 Page 10
Operations Update Egypt South East July (20%) Further exploration planned for 2010 North Shadwan (20%) Near shore fields development Burtocal further drilling to assess new potential Page 11
Operations Update Egypt North Shadwan (20%) Nearshore Fields (377 & 385) to be developed during FY2010 Net Reserves 2 mbbl First oil late 2009 CAPEX 8 million (net) Teen-1 to be drilled 2H 2009 Page 12
Operations Update Egypt North Shadwan (20%) 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…
Operations Update Geothermal Paralana-2 well (mid 2009) Determine geothermal energy resource & permeability Paralana-3 (contingent 2010) Determine circulation capacity Next phase Install 7.5 Mw plant Close to entry points in…
Exploration Update Forecast annual exploration expenditure 50 million/year Cooper 25 million Other Australia 10 million International 15 million Page 15
Development Update Reserve Replacement Process Tipton sale reduced 300 reserves by 76 mmboe 250 Partially offset by increased 200 BMG Gas Cooper & Egypt oil MMboe 150 Unconv. Gas reserves 100 Conv. Gas Cooper Basin contingent…
Exploration & Development Update Reserve Replacement Beachs unconventional gas resource dwarfs its existing Cooper Basin reserve Cooper Basin Reserves & Resources Million boe net to Beach 15 55 Oil Reserves 179 Conventional…
Cooper Basin PEL 92 Update PEL 92 8 mmbbl discovered to date 50% exploration success rate Perlubie South-1 latest discovery (June 09) F&D Cost 10/bbl (7 yr average) Production, transport & royalty* costs 25/bbl 6 well program…
Drillsearch Takeover Update Offer is one BPT share for every 27 DLS shares 50% premium to 3 mth VWAP Offer date15 June 2009 Close Date 16 July 2009 Pre-bid agreements create relevant interest over 13.2% Conditions include: 90%…
Drillsearch Takeover Update BPT offers DLS shareholders: Greater potential for Shareholder Returns Beach vs Drillsearch Last 5 Years exploration success 800% 700% Greater financial strength 600% 500% A highly experienced % Movement…
Beach Summary Top 10 energy producer* S&P 200 listed Cash positive with nil effective debt Exposure to increasing oil price Cornerstone legacy assets in the Cooper Basin Track record of delivering…
A TRACK RECORD OF DELIVERING UBS Australian Energy Resources and Utilities Conference 19 June 2009 Reg Nelson Managing Director
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