Investor Presentation 30 August 2010 www.tapoil.com.au This presentation contains some references to forward looking assumptions, representations, estimates, budgets, and outcomes. These are uncertain by the nature of the…
The Tap Oil Story Tap Oil is an upstream Oil and Gas Company with substantial opportunities for growth through exploration backed up by a strong balance sheet and established production. Recent Milestones 40% increase in half year…
First Half 2010 Financial Highlights 1st Half 2010 2nd Half 2009 Production (boe) 515,000 434,000 20% increase in production Total Revenue A33.4 Million A23.4 Million 40% increase in revenue 80% increase in recurring Recurring…
Exploration Drilling Program Exploration Area Near Term Indicative Drilling Activity & Timing Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 '11 HJV 1 to 4 wells (12.2%) Zola-1 Bambra-10 Targeting incremental reserves Australia, WA-290-P (10%) HJV…
Impact of Exploration Success Tap Share of Multiple of Unrisked Existing Tap Permit Well/ Prospect Risk Resource Potential 2P Reserves WA-290-P Zola Low-moderate 20-200 Bcf 70 700% Brunei Belait Total Low-moderate 3-25 mmbbl - Mawar…
Capital Structure Top 20 Shareholders as at 29 July 2010 Listed on the ASX since 1996 Name Shares % HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 33,071,827 21.13 156.5 million shares on issue HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED-GSCO…
Tap Board & Management Strength Tap Oil operates with a strong independent board & experienced management team focused on building a growing, sustainable oil company Neale Taylor Doug Bailey Peter Lane Michael Sandy Chairman (Non…
Activities Snapshot Exploration Australia, North West Shelf Australia, Bass Basin (Operator) Brunei Block M (Operator) Indonesia, Rangkas PSC Ghana Accra Contract (Operator) Ghana Production S.E. Asia North West Shelf,…
EXPLORATION DRILLING PROGRAM 134246.1 10
WA-290-P: Zola High Impact Gas Exploration Well (Tap 10%) Zola targeting 0.2-2.0 Tcf (recoverable) Proven Triassic play type, immediately south of Gorgon field Robust structure defined on 3D seismic Farmout to Apache on promoted…
Brunei Block M (Tap 39%, Operator) Prolific oil and gas province Belait field 8 to 64 mmboe (gross recoverable) Initial drilling program commenced in August 2010 Low to Moderate risk (Defined on new 3D seismic) Plus significant…
Brunei Block M Near Term Drilling at Belait (Tap 39%, Operator) BELAIT Two well drilling program started in August 2010 ANTICLINE Mawar-1 first, testing up to 9 million barrel recoverable oil compartment 500m subsea Markisa-1 to…
Brunei Block M Mawar-1 Well Site (Tap 39%, Operator) Mawar-1 preparing to spud 134246.1 14
Bass Basin T/47P: Exciting Oil Potential (Tap 75%, Operator) Craigow 3-42 million barrel recoverable oil potential Simple structure defined on modern 3D seismic Along trend from oil recovery at Cormorant-1 Total potential 100+…
T/47P: Craigow-1 Exciting Oil Potential (Tap 75%, Operator) Cormorant-1 Craigow 3-42 million barrel recoverable oil potential Located in shallow water (75m) Shallow target depth (1,500m) improves likelihood of good reservoir…
WA-191-P: Fletcher Remapping (Tap 8.2% in permit) Fletcher recoverable volumes 5-10 mmbbl (Tap estimate) Taps equity interest in Fletcher-3 & 4 is 10.9333% Finucane South along trend (8 to 23 mmbbl potential) (Tap estimate)…
MEDIUM TERM EXPLORATION 134246.1 18
WA-351-P Low risk gas exploration for LNG (Tap 25%) Success-case permit potential of 2-3 Tcf (gross) in a proven province 10+ leads defined on 3D seismic Chance of success boosted to over 50% for a number of targets Permit renewed…
Ghana Offshore Accra Contract Area (Tap 36%, Operator) Prospectivity analogous to recent discoveries in emerging new West African oil province Two leads identified to date, in conventional water depths, with 100 mmbbl potential…
Ghana, Offshore Accra: Example Lead (Tap 36%, Operator) Initial wells will likely target leads in the Albian play 100mmstb recoverable oil Shallow water depth Moderate target depth Defined on existing 3D seismic Proven play type,…
Indonesia: Rangkas PSC (Tap 24%) Early entry exploration block with potential to control new play Evidence of oil play from seeps and previous exploration Gas discoveries can also be commercialised Last wells drilled in 1991 New…
New Ventures & Exploration Project Development Timeline A quality drilling program depends on having the right acreage Tap seeks to add 1-2 high quality Secure Acreage blocks to its portfolio each year Uncertainty Degree…
PRODUCING & GAS ASSETS 134246.1 24
Harriet Joint Venture - Oil and Gas Producing Assets (Tap 12.22%) Producing since 1986 Spread of multiple fields and wells with track record of reserves replenishment HJV average production rates for June quarter Gas 85 mmscf/d Oil…
Woollybutt Oil Field (Tap 15%) Production averaged 7,200 barrels/day Woollybutt in June quarter WESTERN Field commenced in May 2003 with AUSTRALIA recovery initially estimated to be 25 mmbbl over 5 years (from 2 wells) Woollybutt…
Contracted Third Party Gas Tap secured 31 Bcf of gas in 2005 from the John Brookes JV (JBJV) at 2005 prices Contracted Third Party Gas volumes do not form part of Taps reportable reserves Taps JBJV sales contracts commenced in…
Tap Oils Strategy in Action Robust Performance and Near Term Drilling Strong operating quarter with production up 49% and 55% increase in revenue 66 million of cash and no debt at 30 June 2010 Major fully funded drilling program…
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