Contents Transaction Overview & benefits 1 Company overview 3 Portfolio of Producing Assets 6 Exploration Portfolio 8 Overview of Egyptian acquisitions 11 Beach appraisal and exploration program 16 Capital raising & timetable 17 Outlook…
1 Transaction overview Equity Raising approx Use of Proceeds: A190m s.708 placement Approximately A135 million for acquisition plus Share Purchase Plan: of and forward exploration/development 133.6 million shares representing current…
2 Key benefits of transaction Exposure to a suite of near term oil production and high impact exploration opportunities in highly prospective Egyptian basins. Assets with potential for 8mmb 2P reserves in FY09. Exploration programme…
3 Company overview Growing oil and gas production and exploration company. Ranked 5th in Australia based on reserves. Net reserves of approx 90mmboe (27% oil). Substantial additional resource base of 170mmboe. Exploration…
4 Proven investment discipline Acquisitions and organic growth have provided production growth and increased cash flow: Bodalla acquisition provided initial platform for growth. Prudent and profitable investment in BMG underpinned by…
5 Reserve/production ratio of 9. Delhi acquisition in 2007 added Strong Reserve significant reserves and production. Substantial additional resource and Production base base 170mmboe. Reserves by Asset Production by Commodity…
6 1 2 Portfolio of Producing Assets 3 1. Cooper / Eromanga 3. Gippsland Oil Record Production. Producing 10,000 bopd. Progressively oilier. Basker-6ST online 3rd Quarter. New FPSO under consideration. 2. Surat CSG…
7 Growth from Australian projects Cooper/Eromanga Surat Coal Seam Gas Gippsland Oil Oil & Gas Est FY08 Prodn 0.4mmboe Est FY08 Prodn 0.8mmb Est FY08 Prodn 8.1mmboe Reserves 20mmboe Reserves 10mmb Reserves 60mmboe Significant acreage…
8 Carnarvon Cooper Eromanga Global exploration portfolio Bass & Otway Canterbury Basin Onshore Australia low risk. Offshore Australia & International medium Albania /high risk. Increasing international activity: Spain Egypt…
10 International projects Egypt Albania Near term Exploration & Development Medium term exploration play Acquisition of 3 onshore and Deep water, high impact exploration play. offshore interests. 25% non-operated interest. Mix of…
11 Suite of New Egyptian Projects
12 Three Egyptian acquisitions North Shadwan offshore Gulf of Suez: 20% from Tri-Ocean Energy. Purchase price US 110 million. Subject to government and JV pre-emptive rights. Nearby facilities & infrastructure. Three undeveloped…
13 Three Egyptian acquisitions North Shadwan offshore Gulf of Suez: 20% from Tri-Ocean Energy. Purchase price US 110 million. Subject to government and JV pre-emptive rights. Nearby facilities & infrastructure. Three undeveloped…
14 Three Egyptian acquisitions South East July Block offshore Gulf of Suez: 20% from Santos, via farmin to July South-1 well. Subject to government pre-emptive right. Nearby facilities & infrastructure. July South-1 being…
15 Three Egyptian acquisitions South East July Block offshore Gulf of Suez: 20% from Santos, via farmin to July South-1 well. Subject to government pre-emptive right. Nearby facilities & infrastructure. July South-1 being…
16 Appraisal and exploration programme 2008 2009 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Cooper/Eromanga Ongoing exploration and development Gippsland Oil Basker-7 Manta 3 Exp. well Surat CSG Ongoing exploration and development Spikey Bass…
17 Details of Capital Raising Placement: S.708 placement using full 15% capacity. 133.6 million shares at A1.43 per share to raise approximately A190 million. Share Purchase Plan (SPP): Up to A5,000 to existing holders on record…
18 Expected use of funds Share Placement expected to raise circa A190 million. South East July, Approximately A135 million for Nth Qarun & other acquisition of North Shadwan acquisitions and further Exploration and Development…
19 Alternative use of funds If JV pre-emptive rights are Other exploration exercised on North Shadwan, & development BPT may apply the funds in the following way: Approximately A55 million for A35m the acquisition of S.E. July,…
20 Timetable Trading Halt Monday 2 June 2008 Road Show Singapore Monday 2 June 2008 Hong Kong Tuesday 3 June 2008 London Wednesday 4 June 2008 Thursday 5 June 2008 Sydney Monday 2 June 2008 Tuesday 3 June 2008 Wednesday 4 June…
21 Outlook for FY09 Produce 810mmboe. Reserves by Asset Cooper Eromanga: 170 drill 100 wells. 160 Exploration 150 140 Surat CSG: ongoing 130 development and 120 110 Contingent Resources exploration drilling. 100 90 Egypt 80…
Loading...
