OTTO ENERGY BUILDING A BALANCED UPSTREAM PORTFOLIO ASIA OIL WEEK ASIAN INDEPENDENTS FORUM PRESENTED BY MR ALEX PARKS, PARKS CEO 25 FEB 09
OTTO ENERGYS GROWTH STRATEGY To be an internationallyrespected, significant oil & gas company STRATEGIC FOCUS Build & maintain a balanced portfolio of assets across exploration / production life cycle onshore/offshore O Operate…
CAPITAL STRUCTURE & CASH POSITION SHARES UNLISTED OPTIONS Shareholding Composition ISSUED 492 673 863 492,673,863 45 45,500,000 500 000 Top 20 MARKET CAP A49 million 10cps [as at 20 February 2009] p [ y ] own 64.50 % US5.7…
BOARD OF DIRECTORS RUFINO JAAP POLL RICK CRABB IAN MACLIVER JOHN JETTER BOMASANG DIRECTOR CHAIRMAN DIRECTOR DIRECTOR (NON - EXECUTIVE) (NON - EXECUTIVE) (NON - EXECUTIVE) (NON EXECUTIVE) DIRECTOR PHD PHILOSOPHY AND B JURIS…
THE VALUE OF A BALANCED PORTFOLIO A successful oil and gas company has a balance of assets of oil and gas / onshore and offshore / exploration and development. Ottos portfolio allows focus on onshore assets during 2009. Low cost…
OTTO HAS BUILT A BALANCED PORTFOLIO
ASSET PORTFOLIO NON OPERATED, ONSHORE OPERATED, OFFSHORE Turkey, Italy, Argentina Philippines
THE PHILIPPINES
GLOBALLY COMPETITIVE FISCAL REGIME The fiscal regime applicable to the Filipino Th fi l i li bl t th Fili i upstream oil industry is one of the best in Asia Foreign participation of up to 100% is allowed Foreign participation of up to…
INTENSIVE PROMOTION OF OIL & GASEXPLORATION MORE THAN 30 SERVICE CONTRACTS AWARDED IN JUST OVER 5 YEARS Waters surrounding the Philippines have been long ignored by oil investors Previous development activity focused primarily on…
SIGNIFICANT PLAYERS MOVING INTO THE NEIGHBOURHOOD 2004 Government initiative to reinvigorate exploration and domestic oil and gas production in the Philippines production in the Philippines Attractive fiscal regime put in…
OTTO HOLDS A DOMINANT POSITION 2006 Otto acquired 100% of NorAsian (& Operatorship) 2006 /07 Extensive seismic campaign across all blocks 2007 Acquisition of indirect interest in the Galoc Oil Field via shareholding in Galoc…
SC14C - GALOC OIL FIELD OTTO 18.28% INDIRECT INTEREST Otto has 31.38% of Galoc Production Company, which holds 58.29% of SC14C and is Operator. Gives Gives Otto an 18.28% indirect interest in the field. Otto an 18 28% indirect…
SERVICE CONTRACT 55 OTTO FARMING DOWN FROM 85% TO 25% DEEP WATER BLOCK Water depth 300 2000 metres Area 9,000km2 Never previously licensed as a Service Contract Massive Reef and Turbidite potential p OTTO ACQUIRED 2D SEISMIC IN…
SC55 FARM OUT TO BHP BILLITON In December 2008, Otto and BHP Billiton entered into a conditional , Heads of Agreement which set out the key commercial terms for the farmin by BHPB to SC55. Otto retains 25% working interest Otto will…
PROLIFIC 1,000 KM OIL & GAS TREND SC 55 Deep Water Licence Shell/Conoco Phillips oil discovery
ARGAO PROSPECT SC51 SOUTH BLOCK DHIs suggest small gas cap on oil 8 levels of 40 300 MMbbls in place each Potential P i l Oil Leg E W Section over Argao and Cabilao EW Section over Argao and Cabilao Gas Cap AVOS…
Argao-1 Argao Closure Greater Argao Anak Argao Top Barili B
ARGAO G O & BAHAY (CONTINGENT) (CO G ) EXPLORATION WELLS A Argao - Proposed P dWWellll Path P th B h Bahay - Proposed P dWWellll P Path th 180 Seafloor 340 Maingit 540 Intra Maingit 800 Top Toledo 1529 Intra…
SC69 NEW ACREAGE OTTO 70% % AND OPERATOR Awarded in May 2008 Area forms part of the Visayan Basin with proven oil & gas p g Located between SC51 North and South blocks Large block over 7,000 km2 4,500km of existing 2D seismic;…
SC50 CALAUIT OIL FIELD Fracture Swarms within closure On hold until costs decrease/oil price increases and/or farmin partner is secured to make development feasible
FRACTURE ORIENTATION DELINEATED BY 3D SEISMIC RECORDED IN 2007 Dip-Azimuth Dip Azimuth Depth p Closure Projected paths of pilot and horizontal wells Seismic Seismic and F lt Faults
NON OPERATED ASSETS ARGENTINA EUROPE
NON OPERATED ASSETS Otto holds 35% WI Farming in for 50% WI Farming in for 32.48% WI Highly prospective acreage with six Hi hl i ih i Operated by Ascent Resources Plc O db A R Pl Located on East side of prolific L d E id f lifi…
PROJECT CONVEYER BELT
INDICATIVE WORK PROGRAM Drilling 1 development well in Turkey January 2009 Complete BHPB SC55 deal March2009 Sign Turkey Gas Sales Agreement April 2009 Drilling of 100 Bcf target (Gazzata1 well) in Italy Q2 2009 Drilling of up to…
OTTO HAS GOOD FUNDAMENTALS Strong management and experienced, motivated staff g g p , Revenue from Galoc production & low cost Turkey development to provide cash flow starting late 2009 development to provide cash flow starting late…