Company Overview Independent ASX-listed oil and gas company High impact portfolio of projects in Australia, NZ and potentially Cuba Revamped Strategy under new MD focused on risk managed exploration and strict financial discipline…
People, Investment Highlights & Strategy 5
Board & Management New leadership under MD Peter Stickland Board of Directors Greg Short Peter Stickland Stephen Hopley Non-Executive Managing Director Non-Executive Chairman & CEO Director Senior Team Colin Naylor Robert…
Investment Highlights Revitalised business and refocused strategy under new leadership High impact and undervalued exploration asset portfolio Material near term value drivers from Australian & NZ assets Long term potential…
Focused Strategy Fresh leadership, focused on managing costs & delivering value Key Pillars Strict Risk Rapid Leverage Strong core financial managed expansion quality competencies discipline approach to of Cuban existing of…
Immediate Action Taken Reshaped and refocused business under new MD Peter Stickland Key actions Exit Blackwood (NT/P68) as part of portfolio discipline Vary permit commitments to provide greater flexibility Farming down equity…
Australian & NZ Asset Portfolio 10
Portfolio Overview Diverse, high impact portfolio MEO Net Resources 1,355 1,400 AC/P51 WA-488-P WA-454-P NT/P68 Over 1.3 billion barrels of oil equivalent Million Barrels of Oil Equivalent (MMboe) 1,200 prospective resources…
Northern Australia Acreage Discrete upstream projects adjacent to proven hydrocarbons ABADI GREATER SUNRISE BAROSSA EVANS SHOAL Joint Petroleum BLACKWOOD CALDITA Development N T/P 6 8 HERON Area BAYU-UNDAN Tassie Shoal…
WA-488-P (MEO 70%): Beehive Prospect Giant Beehive dual objective oil prospect Shallow water, suitable for lower cost jack-up drilling rig Darwin Farmout to Rex International Holding defines potential path to funding PETREL - 30%…
WA-454-P (MEO 50%): Breakwater Prospect MEO partly carried. Aiming to farm down to cover well cost Farmed out 50% to Origin in 2013 for: Darwin Gulf of Mexico - 5.6m cash PLUS style Salt dome Plays - 80% of Breakwater-1 (A35m…
NT/P68: Blackwood & Heron Gas Accumulations MEO focusing on 100% retained interest in Heron field Heron gas discovery (MEO 100%) EVANS SHOAL Heron-2 (2008) flowed gas at 6 MMscfd Evans Shoal North-1 , BLACKWOOD , Evans Shoal-2 Heron…
Tassie Shoal Projects (MEO 100%) Shallow water, low cost development paths for regional stranded gas Methanol: 2 x 1.75MTA plants, built in two stages (TSMP1 & TMSP2) Tassie Shoal Projects TSMP2 LNG: 3MTA LNG plant (TSLNG) Federal…
Tassie Shoal Projects Commercial framework progressing to support commercialisation Methanol TSMP2 Offtake Letters of Intent signed with three multinational buyers Indicative purchase offers made at US3.15MMBTU to purchase raw gas…
AC/P50 & AC/P51 (MEO 100%): Ramble On Prospect Multiple oil targets in proven petroleum system Suitable for lower cost jack-up drilling rig Ramble On and Jurmaker oil prospects identified in proven petroleum system defined on modern…
New Zealand: Onshore Production & Exploration PEP51153 (MEO 30%) Puka oil accumulation Puka - Produced at 110-115 barrels/day under long term test PEP 51153 before shut-in January 2015 due to mechanical Waihapa problem and low oil…
Cuba 20
Why Cuba MEO has early mover advantage Cuba has excellent oil & gas prospectivity - Currently producing 70,000 boe per day - Varadero field: 5 billion barrels OOIP Limited application of modern exploration techniques Improving…
Early Mover Advantage MEO has unique opportunity in Cuba MEO is the only ASX listed company with Cuban energy exposure MEO has pre-qualified with Cupet (NOC) as an onshore/shallow water operator Strong Cuban…
Cuba Block 9: Positioning and Value Drivers Oil rich area with low upfront commitment Positioning MEO has agreed terms for entry to an onshore exploration PSC in the Republic of Cuba Award of Block 9 PSC (MEO 100%*) is subject to final…
Corporate & Activity Pipeline 24
Funding Overview Healthy cash position geared for growth Modest firm committed exploration program Corporate overheads reduced to Cash balance at end A2.5m/year of March 2015 of A7.2m 25
Mosman Unsolicited Takeover Offer Directors Recommendation to MEO Shareholders: REJECT Why: Mosman has limited cash and its ability to continue as a going concern is uncertain - It has only conducted a small capital raising since…
MEO Activity Pipeline Actively managing program to optimise value 2015 2016 2017 Permit Activity Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 New Zealand (PEP 51153) Joint Farmout Process Potential Shannon-1 drilling Breakwater (WA-454-P)…
Summary and Conclusion Revitalised business and refocused strategy under new leadership High impact and undervalued exploration asset portfolio Pre-qualified in multiple international jurisdictions Unique Cuban Leverage with…
Appendix MEO Group Assets MEO Group Country Location Permit equity Status New Onshore Taranaki PEP 51153 30% Production/appraisal/exploration Zealand Australia Bonaparte Gulf WA-454-P 50% Appraisal/exploration Australia Bonaparte…
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