CAPITAL RAISING Investor Presentation Drillsearch Energy Delivering on a Focused Strategy 19 November 2012 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE U.S. OR TO U.S. PERSONS
2 Executive summary ENTITLEMENT OFFER Drillsearch Energy Limited (Drillsearch) is raising A50 million through a fully underwritten 1 for 10 accelerated non-renounceable entitlement offer (Entitlement Offer) Net proceeds from the…
3 Entitlement OfferOverview ENTITLEMENT OFFER Fully underwritten 1 for 10 accelerated non-renounceable entitlement offer (Entitlement Offer) to raise A50 million via the issue of approximately 38.6 million ordinary shares (New…
4 Entitlement OfferSources and Uses ENTITLEMENT OFFER Net proceeds from the Entitlement Offer will be used to fund the balance of the acquisition of Acer as well as Drillsearchs planned work program for the Acer Wet Gas and…
5 Acquisition of Acer EnergyOverview ENTITLEMENT OFFER On 4 October 2012 Drillsearch announced an all cash offer for Acer (the Takeover) the offer price is A0.285 per Acer share the Takeover has been unanimously recommended by…
6 Acquisition of Acer EnergyBenefits and Rationale ENTITLEMENT OFFER The combined group will hold the largest discovered, uncommitted conventional gas resource in the Cooper Basin outside of the Cooper Basin Joint Venture…
7 DrillsearchSnapshot ENTITLEMENT OFFER Cooper Basin focused explorer and producer Key Data with leading acreage position in the basin Share Price (16 Nov 2012) (A/sh) 1.49 Demonstrated exploration success across Oil, Shares on…
8 Entitlement OfferTimetable ENTITLEMENT OFFER Event Date1 Trading halt 19 November 2012 Institutional Entitlement Offer 19 November 2012 Announcement of outcome under the Institutional Entitlement Offer 20 November 2012…
9 Our strategy NEAR TERM ENTITLEMENT OFFER Rapidly develop new oil discoveries and accelerate 3D seismic-based exploration in prospect-rich Western Flank and emerging Inland-Cook Oil Fairways Expand development and…
10 Enhanced Growth Platform ENTITLEMENT OFFER NEAR TERM Western Flank OilPEL 91 Western CorridorPEL 182 Inland-Cook Oil Patchawarra PEL 100 PatchawarraPEL 101 Wet Gas MID TERM Ginko, Crocus Western Cooper Wet Gas Pilots…
11 Increased Cooper Basin Footprint ENTITLEMENT OFFER UNCONVENTIONAL WET GAS Short, medium and long-term growth opportunities
12 Robust Combined Reserve and Resource Base ENTITLEMENT OFFER Reserves & Resources Growth (FY 2013) 2P reserves upgrade Appraisal drilling and testing of PEL 91 15.0 13.9 12.5 oil discoveries 10.0 7.5 New discoveries from…
13 Significant Production Growth ENTITLEMENT OFFER Production Outlook for FY 2013 Production Previous FY 2013 production guidance of 1.23 mmboe increased by a range of 6% to 27% 1.80 235 to 301% (1.31 mmboe to 1.57 mmboe) 6 to…
14 Cooper BasinPlay Fairways by Business Unit ENTITLEMENT OFFER UNCONVENTIONAL WET GAS OIL Short, medium and long-term growth opportunities
16 Oil BusinessWestern Flank Oil Fairway ENTITLEMENT OFFER Western FlankFY 2013 Work Program Targeting 3,000 BOPD (DLS net) oil production by CYE 2012 Bauer Central Oil Production Facilities completed/commissioned with 20,000 bbls…
Oil BusinessInland Cook Oil Fairway & PEL 103 17 Flax Development ENTITLEMENT OFFER Inland-Cook Oil FairwayFY 2013 Work Program ATPs 539P and 549P 600km2 Kaden 3D seismic survey acquisition Complete 3D seismic processing and…
18 Wet Gas Business ENTITLEMENT OFFER Key Data YTD Production: Raw Gas 10mmcf /d (net) Sales gas 7.4 TJ/d (net) Sales: Liquids 550 bbls/d (net) Reserves (2P): 7.5 mmboe Contingent 9.3 mmboe Resources (2C): Unrisked Prospective…
19 Wet Gas BusinessNon-operated PEL 106B & PEL 107 ENTITLEMENT OFFER PEL 106B and PEL 107FY 2013 Work Program Connect Canunda gas field into Wet Gas Pilot Project Plant Extend existing GSA and upgrade Wet Gas Pilot Project with…
20 Wet Gas BusinessPEL 103 ENTITLEMENT OFFER PEL 103CY 2013 and CY 2014 Work Program 3D seismic of 100 km2 covering the Yarrow-Linden and Tallow Cypress areas Drill up to 3 exploration wells in the Linden and Tallow-Cypress areas…
21 Wet Gas BusinessPEL 101 ENTITLEMENT OFFER PEL 101FY 2013, 14 and 15 Work Program 3D seismic of 150 km2 Drill up to 2 exploration wells in the Kapok and Hemlock areas Complete & recomplete existing wells, stimulation and…
22 Unconventional Business ENTITLEMENT OFFER Key Data Production: Nil Reserves (2P): Nil Contingent Under evaluation Resources (2C): Unrisked Deep CSG = 817 TCF Prospective Shale Gas = Under evaluation Resources (Best):…
23 Unconventional BusinessCentral Cooper Shale ENTITLEMENT OFFER Agreed Joint Venture Work Program ATP 940P Stage 11,000km 2D seismic reprocessing, conduct 1,100km2 Winnie 3D seismic survey and complete regional shale core…
24 Risks relating to Drillsearch Operations ENTITLEMENT OFFER Introduction An investment in Drillsearch has risks attached to it and neither Drillsearch or its Directors, management and any related entities, nor any party…
25 Risks relating to Drillsearch Operations (cont'd) ENTITLEMENT OFFER Climatic impacts Any adverse or extreme climatic conditions could affect Drillsearch's operations through delaying exploration, development and production…
26 Risks relating to Drillsearch Operations (cont'd) ENTITLEMENT OFFER Reserve and Contingent Resource estimates Reserve and Contingent Resource estimates are expressions of judgement based on knowledge, experience and industry…
28 Risks relating to Drillsearch Operations (cont'd) ENTITLEMENT OFFER Joint Ventures Drillsearch will have, and may become a party to joint venture or joint operating agreements for the blocks in which it holds interests. Under…
31 International Offer Restrictions (cont'd) ENTITLEMENT OFFER Malaysia This document may not be distributed or made available in Malaysia other than to existing shareholders of the Company participating in the entitlement offer.…
32 International Offer Restrictions (cont'd) ENTITLEMENT OFFER Switzerland The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange (SIX) or on any other stock exchange or regulated…
35 Appendix 1Net Reserves and Contingent Resources ENTITLEMENT OFFER Drillsearch Net Reserves & Contingent Resources as at 30 September 20121,4 Reserves 1P 2P 3P Western Flank Oil 3.1 5.8 9.0 Western Cooper Wet Gas 2.4 7.5 21.0…
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