Investor Presentation 11 November 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…
Tap Oil Strategy To be a successful E&P company, growing in scale and value by building a diverse asset base and having a well funded, quality growth portfolio in a select number of focus areas Primary geographic focus on Australia/Asia…
Strategy in Action Recent Achievements Acquisition of attractive Thailand interests via 75% of Northern Gulf Petroleum1 Manora oil field (24mmbbls) and Rossukon discovery 31,000km2 exploration acreage Acquisition price of US8.13/bbl…
Taps Assets : Thailand Transforms Portfolio Appraisal / Production / Exploration Development Sales Broad Portfolio Thailand Oil WA Oil & Gas WA Gas Manora oil field Harriet (7+ mmbbl net resources1) Bass Strait Oil Woollybutt…
Active Program with High Materiality Net Indicative Timing Multiple of Tap Unrisked 2010 2011 2012 Project Existing 2P Share Mean Reserves Potential Q4 Q1 Q2 Q3 Q4 Q1 Australia Carnarvon Basin Zola-1 10% 100 Bcf 350% drilling…
Tap: Compelling Value Proposition Current Share Price * Broker consensus Thai acquisition adds Manora and significant risked exploration value 141226.2 1. 7
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…
Capital Structure Top 20 Shareholders as at 8 November 2010 Listed on the ASX since 1996 Name Shares % 231.2 million shares on issue HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED 48,268,626 20.87 NATIONAL NOMINEES LIMITED 17,401,976 7.53…
Activities Snapshot Exploration Australia, North West Shelf Australia, Bass Basin (Operator) Brunei Block M (Operator) Indonesia, Rangkas PSC Ghana Accra Contract (Operator) Thailand G1/48, G3/48, G6/48 Appraisal/Development…
PRODUCING & GAS ASSETS 141226.2 11
Oil and Gas Producing Assets Harriet Joint Venture Tap 12.22% Producing since 1986 Spread of multiple fields and wells with track record of reserves replenishment HJV average production rates for the September quarter Gas 80…
Contracted Third Party Gas Tap Oil 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 Tap Oils reported reserves Tap Oils JBJV sales contracts…
APPRAISAL & DEVELOPMENT ASSETS 141226.2 14
Thailand Assets: Recent acquisition of Appraisal and Exploration Portfolio Tap has acquired a controlling 75% interest in NGP; owner of a 40% working interest in G1/48, G3/48 and G6/48 Ability to revisit holding structure in the…
Manora Oil Field: A Highly Attractive Opportunity Discovered in late 2009 (Manora-1) and successfully appraised in 2010 (Manora-2 & 3) Substantial, independently reviewed, resource of 24 mmbbl (100%) discovered to date Located in…
Manora: Excellent Near Field Potential Manora field located on western flank of Kra basin Relatively new and under explored area Kra Basin Four moderate risk near field prospects identified to date Same basin / oil source Same…
Exploration Follow Up: 10-fold Potential Manora discovery highlights the oil potential within the Tertiary basins of the Gulf of Thailand These basins previously untested and under explored Recently Acquired 17 exploration features…
EXPLORATION DRILLING PROGRAM 141226.2 19
WA-290-P: Zola High Impact Gas Exploration Well (Tap 10%) Zola targeting 1.0-2.0 Tcf1 (Gross UR) Proven Triassic play type, immediately south of Gorgon field Robust structure defined on 3D seismic Farmout to Apache on promoted basis…
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 Potential…
Bass Basin T/47P: Exciting Oil Potential (Tap 75%, Operator) Craigow 28-50 mmbbl gross recoverable oil potential1 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 28-50 mmbbl gross recoverable oil potential Located in shallow water (75m) Shallow target depth (1,500m) improves likelihood of good reservoir…
Brunei Block M (Tap 39%, Operator) Prolific oil and gas province with proven potential from historic oil and gas production at Belait field Initial 2 well program completed Mawar-1 encountered gas and oil Markisa-1 encountered oil…
WA-191-P: Finucane South Oil Prospect (Tap 8.2% in permit) Operator has proposed a well on Finucane South for drilling in 1H 2011 Finucane South is along trend from Fletcher and Tap estimates it could contain 8 to 23 mmbbl1…
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…
Tap Oil: Building for Growth Acquired key assets to complement existing portfolio Manora field targeting FID early 2012 potential to triple Taps reserves Up to 16 wells over next 18 months Exploration and pre-development costs…
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