Strategic Plan October 2014 Strategic Plan Approved by the Board Mission Statement To become an industry leading Oil & Gas Company. Our Vision going forward is To create an oil and gas asset portfolio focused on extracting…
Setting the context Source: EIA Strategic Plan Approved Source: Forecast Weekly Cushing, OK WTI Spot Price (Dollars per Barrel) Consensus 90 Economics Inc. 80 70 60 50 40 30 2015 2016 2017 2018 2019 3
The Past 7 Months Successfully negotiated a 25% repayment of Convertible Notes and an extension of the Redemption Put Date from April 2015 to April 2016 Completion of a Receivable Factoring Facility Agreement with a third party…
BUSINESS OVERVIEW
Operational Improvements Optimisation of the organisational structure and reporting lines Reduction in Full Time Equivalent employee numbers by 56%, with total savings of AUD 24.7M Operational efficiencies Reduction in Gulf Coast…
Oil & Gas
Oil and Gas Total cost per barrel of oil produced (including LOE, Conventional Oil & Gas reserve base(1)(2)(3) workovers, taxes and G&A) is below USD 29 per barrel Umiat P3 14.5% Wyoming P1 Hedging: WTI swaps covering 800 BOPD at a…
Last 6 Months Trends LOE and WO Cost Trending - Gulf Coast 7.0 -28% -30% Cumulative 6.0 reduction on Q1 FY15 49.7% 5.0 Total Cost (US M) 4.0 3.0 2.0 1.0 - Q1 FY15 Q2 FY15 Q3 FY15 Total LOE Costs Total WO…
How do we sustain our results Restructuring of the organisation set foundations Implementation of scorecards & quarterly targets Implementation of an Operational Management System (OMS) sustainability Strategic Planning sessions…
Oil and Gas Projects overview Project Stage Status Next steps Gulf Coast Production Total 1P Reserves(1) 9.9 mmboe Increase oil prospect inventory KT Percent Oil: 96% analysis on current asset base PV-10: USD 417m Optimise existing…
Shale Oil & Gas
Arckaringa Basin 2015 drilling program 5,052m of exploratory drilling completed: Pata1 - hydrocarbon shows were recorded providing evidence of an oil bearing formation Eba1 - extensive suite of geological information has been…
Shale Oil & Gas - Comparison to U.S. Shale oil & gas plays Technical data compares favorably to prolific US unconventional liquids plays Shale Property Eagle Ford Bakken Arckaringa Basin (Organic-rich Shale) Age Mesozoic Paleozoic…
Underground Coal Gasification
UCG Shift the focus from exploration & engineering to a commercial focus and partnering with entities who have well defined resources, removing exploration risk and reducing time for future commercial project development New…
Heavy Oil Recovery
Heavy Oil Recovery Moving Injection Gravity Drainage Low cost early stage development work - Key Differentiators of Invention adaption of proprietary UCG downhole tools and techniques for the extraction of heavy Functional Achieved…
Summary High quality, global asset portfolio in all stages of development, from 1 exploration through to production. Conventional oil & gas assets with significant reserve base and low cost 2 production. A leader in UCG…
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