2 KAROON REVIEW DECEMBER 2010 Karoon Gas snapshot n Approximately 217 million shares and 8.4 million options n Poseidon-1 gas discovery Contingent Resource estimate (P90- n Market capitalisation approximately A1.65 billion A7.70…
3 KAROON REVIEW DECEMBER 2010 Karoon Gas Australias key personnel BOARD TECHNICAL ROBERT HOSKING Executive Chairman LINO BARRO Engineering Manager Founding Director and shareholder of Karoon Gas with 30 years of 28 years…
4 KAROON REVIEW DECEMBER 2010 South American personnel EDWARD MUNKS Director of KEI and COO of KGA TIMOTHY HOSKING General Manager for South America Over 28 years experience working for Brambles, Nexus Energy, Over 10 years…
5 KAROON REVIEW DECEMBER 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 Kronos-1 Poseidon-1 gas discovery…
6 KAROON REVIEW DECEMBER 2010 Browse Basin WA-314-P Argus Gas/condensate Karoon 90% ConocoPhillips 10% field 2tcf (Karoon estimate) Abalone 1 WA-315-P and WA-398-P Emily Rose Karoon 40% ConocoPhillips 60% Phrixus 1 WA-314-P…
7 KAROON REVIEW DECEMBER 2010 Browse Basin Poseidon Field Poseidon-1 Kronos-1 Future Plans n Well data from the three wells drilled on the greater Poseidon structure will be analysed over the coming months, together with the…
8 KAROON REVIEW DECEMBER 2010 Browse Basin Indicative Time line Karoon activity 2009 2010 2011 2012 2013 Indicative time line (Nov 2010) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Past Future BROWSE BASIN (Aust)…
9 KAROON REVIEW DECEMBER 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 DEVELOPMENT,…
10 KAROON REVIEW DECEMBER 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 PRRT begins 3000…
11 KAROON REVIEW DECEMBER 2010 Karoon indicative development model economics Product revenues Capex profile PRODUCT REVENUES FOR COMBINED OFFSHORE 2009 US DOLLARS LIQUIDS REMOVAL AND ONSHORE LNG 100% SHARE. 4500 Product…
12 KAROON REVIEW DECEMBER 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 prospective resource.…
13 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin OGX Natal discovery (June 2010) oil in Santonian sandstone reservoirs with Location: Santos Basin shallow water 300- 180m goss pay with a net pay of 75m. The liquid hydrocarbons…
14 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin -Maruj-1 location Piracuc Sao Pa Piracuc Field 230km Light oil and gas disoveries within Karoon Operated Blocks Tertiary aged reservoirs whih have ulo 100%…
15 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin SAO PAULO B Piracuc Field Niteri Atlanta Light oil and gas discovered in Cretaceous Tamba PJS-559 Natal Belmonte BS-4 Santonian/Campanian aged reservoirs with Urugu…
16 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin Karoon acreage play types Depth Seabed Recent- Miocene Shallow detached Salt Eocene- Paleocene Sub-Salt Plays Post-Salt Maa Plays Cam strichtian pania - n Post-…
17 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin Seismic modelling Pico do Morro da Piracuc Jaragua East Igreja East Field 21km 13km Low Probability of hydrocarbons Seismic Inversion High probabilities High of…
18 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin Prospect analog Tiro Oil Field Pico do Jaragua East Stratigraphic thinning Stratigraphic thinning S & pinch-out of S & pinch-out of A reservoir onto flank of A reservoir onto…
19 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin Prospect example Pico do Jaragua East Santonian Santonian Anomaly cycle 1 Santonian Anomaly cycle 1 Prospect example- amplitude Amplitude Map (Far stack response) Hydrocarbon…
20 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin - Maruja oil field discovery TIRO FIELD MARUJA PROSPECT DISCOVERY OF LIGHT OIL TO THE SOUTH OF SANTOS BASIN (Petrobras announcement) Rio de Janeiro, November 16th, 2010 -…
21 KAROON REVIEW DECEMBER 2010 Brazil Santos Basin Indicative Timeline Karoon activity 2009 2010 2011 2012 2013 Indicative time line (Nov 2010) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Past Future SANTOS BASIN…
22 KAROON REVIEW DECEMBER 2010 Indicative Santos Basin project concept Karoon oil and gas indicative development model economics (assuming a discovery of 250 million barrels and based on independent third party design concepts).…
23 KAROON REVIEW DECEMBER 2010 Net cash flow Karoon oil and gas production indicative development model economics. 100% SHARE. 2000 1500 1000 Net cash flow (USmillion) Field exploration 500 and appraisal 0…
24 KAROON REVIEW DECEMBER 2010 Karoon indicative development model economics Product revenues Capex profile OIL AND GAS REVENUES- 100% SHARE 2010 US DOLLARS Oil and Gas Revenues (USmillion) 3500 1600 3000 1400 CAPEX…
25 KAROON REVIEW DECEMBER 2010 Peru Tumbes Basin Block Z38 Colombia Location: Offshore Peru close to Ecuador producing fields and discoveries. Potential: 4 main prospects with net Brazil unrisked prospective resources…
26 KAROON REVIEW DECEMBER 2010 Peru Tumbes Basin Prospects and Leads Block Z38 D Prospect Total recoverable resource 116 mmbl with a geologic risk (Pg) = 14% (D&M, Oct 2010 2D seismic based) Baleen Lead Total recoverable…
27 KAROON REVIEW DECEMBER 2010 Peru Tumbes Basin Prospects and Leads 3D perspective of top reservoir. Red and yellow show seismic amplitude anomaly across the top of Baleen Lead the lead. Good concordance of amplitude to…
28 KAROON REVIEW Buena Vista DECEMBER 2010 Carmen Nor Este Bartra Peru Maranon Basin Block 144 Jibarito Situche SitucheCentral Central Nueva Esperanza Pavayacu Capriona Sungachi-9-2x San Juan Block 8 Corrientes…