2 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Karoon Gas snapshot n Approximately 177 million shares and 8.4 million options n Market capitalisation approximately A1.0 billion A6.00 n Cash in bank A174 million n Company in…
3 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Karoon Gas Australias key personnel Board Technical ROBERT HOSKING Executive Chairman LINO BARRO Engineering Manager Founding Director of Karoon Gas with 30 years of 28 years…
4 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Australian Assets TIMOR Karoon Permit AC/P8 BAYU-UNDAN DARWIN Karoon Permit WA-314-P AUSTRALIA Karoon Permit WA-315-P ConocoPhillips LNG Plant Poseidon-1 gas discovery…
5 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Browse Basin GRACE P50 5.7tcf BHP Billiton Argus Gas/condensate WA-314-P & WA-315-P field 2tcf (Karoon estimate) Abalone 1 Karoon 49% ConocoPhillips 51% Phrixus 1 ARGUS…
6 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Browse Basin - Poseidon-1 Gas Discovery Poseidon-1 well location and seismic section n The well has penetrated a 317m gross gas bearing Plover Formation. over the interval 4795 to…
7 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Browse Basin Poseidon-2 results Kronos-1 Poseidon-1 Poseidon-2 (Proposed) Kronos-1 POSEIDON-1 Production well zone (Proposed) Mont A ara Fm . POSEIDON-2 Gas bea WA-315-P ring…
8 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Browse Basin Poseidon-2 well results Plover Formation nM et the objective of establishing continuity of the gross sand intervals and intervening shales over a large part of the field…
9 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Browse Basin - Kronos-1 Kronos-1 nT he next well to be drilled is Kronos-1 Kronos-1 (Proposed) Poseido nK ronos-1 is located on the south-western high of the Kronos-1…
10 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Browse Basin Indicative Time line Karoon activity 2008 2009 2010 2011 2012 Indicative time line (Oct 09) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 BROWSE BASIN…
11 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Indicative project concept Karoon LNG/condensate indicative development model economics (assuming a discovery of 7 TCF and based on independent third party design concepts). Field…
12 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Combined net cash flow Karoon LNG/condensate indicative development model economics. Net cash flow for combined offshore liquids removal and onshore LNG 100% Share. 4000 Resource…
13 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Karoon indicative development model economics. Product revenues Capex profile Product revenues for combined offshore liquids removal 2009 US dollars and onshore LNG 100% Share.…
14 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 AC/P8 Location: Close to the Laminaria/Corallina production facility with production tie in potential. JPDA 06-105 Potential: Main prospect Jania with up to 20mmbl potential…
15 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Brasil Santos Basin Location: Santos Basin shallow water SAO PAULO 300-400m, on trend with Caravela, OGX listed in 2008 in Repsol new gas Piracuca, Newton and Merluza fields. Brazil…
16 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Brasil Santos Basin - Recent activity Repsol new gas condensate discovery Panoramix(2009). Late Cretaceous aged Note: OGX, a Brazil listed company with a market cap of reservoirs…
17 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Brasil Santos Basin - Prospects Mean Rec Oil Prospect Reservoir (mmbls) Karoon wide azimuth Pico do Jaragua East Santonian 260 3D now acquired. Piracuca Field Morro da Igreja…
18 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Brasil Santos Basin - Prospect example Pico do Jaragua East Santonian Santonian Anomaly cycle 1 Santonian Anomaly cycle 1 Prospect example- amplitude Amplitude Map (Far stack…
19 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Brasil Santos Basin - Indicative Timeline Karoon activity 2008 2009 2010 2011 2012 Indicative time line (Oct 09) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 SANTOS…
20 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Peru Tumbes Basin Block Z38 Location: Offshore Peru close to BPZ 10,200 bopd test in producing fields and discoveries. new pool discovery in Karoon 3D seismic survey 15002 km…
21 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Tumbes Basin BlockZ38 The Geowave Endeavour 3D seismic vessel currently operating for Karoon in Peru.
22 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Peru Tumbes Basin Block Z38 Seismic line example. n Clear gas DHIs with amplitude ratio updip to down dip around 5 to 10 times.
23 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Peru Maranon Basin Block 144 Location: Onshore Peru close to existing infrastructure and producing Buena Vista fields. Carmen Nor Este Bartra Potential: Leads with 50 to…
24 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Activity Summary Karoon activity 2008 2009 2010 2011 2012 Indicative time line (Oct 09) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 BROWSE BASIN (Aust) Drilling…
25 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 DeGolyer & MacNaughton Assessment Thursday, 10 December 2009 DeGolyer & MacNaughton Karoon Low Best High Mean Risked Gas Resource Mean (ASX Code: KAR) Estimate 30 September 2009…
27 KAROON GAS AUSTRALIA LIMITED FEBRUARY 2010 Index of terms TCF: trillion standard cubic feet (1,000,000,000,000 cubic feet) Mmbls: Millions of barrels (1,000,000 barrels) Bbls: Barrels BOE: A means of expressing gas volumes in…