Tap Oil Limited Macquarie Capital Securities Australian Conference 2008 9 May 2008 www.tapoil.com.au This presentation contains some references to forward looking assumptions, representations, estimates budgets and outcomes. These…
The Tap Oil Story Tap Oil is an ASX listed Oil and Gas E&P Company with established production and a pipeline of exciting exploration opportunities in Australasia Key Strengths Established Asset base with: Developed Reserves -…
The Tap Oil Strategy for Growth Res Taps value proposition: Grow asset value per share by discovery and addition of reserves and resources To do this Tap Oil has combined the following key elements: Right people: Board / Leadership…
Tap has a Portfolio of Quality Exploration & Appraisal Opportunities Approximate Value Potential Value Accretive Maitland Substantial Value Add High Transformational Woollybutt South Appraisal WA-351-P Brunei - Belait…
Tap 2008 Drilling Programme Tap will spend A60 million in 2008 pursuing a portfolio of moderate risk, high impact opportunities 2008 Location Tap Equity Q1 Q2 Q3 Q4 (%) Simpson-9 Carnarvon Basin 12.22% Marley-2 Lee-4 HJV…
Tap Oil: Multi-pronged strategy for growth Brunei Block M Oil & Gas Redevelopment & Philippines SC-41 Exploration High impact Oil Exploration Drilling & seismic late 2008 Drilling mid 2008 Company changing event WA Oil Existing…
Tap Producing Assets: Exposure to Record Oil Prices Woollybutt Joint Harriet Joint Venture (Tap 15%) Venture (Tap 12.22%) Northern Lobe Production production potential Oil 7,000 bopd 5,000 bopd Gas 115 TJ/d Southern Lobe Simpson 9…
Western Australia Gas Strategy WA Gas prices increased 3 fold to A7.50/GJ Tap well positioned along value chain Green field Near field Gas Production Gas Gas Appraisal & Marketing Exploration Exploration WA-351-P Marley-2…
Additional Revenue Stream Gas Contracts Estimated Gas Sales Revenue (A,000) 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2006 A 2007 A 2008 F 2009 F 2010 F 2011 F 2012 F 33PJ of gas from John Brooks Joint…
Maitland Gas Field - Appraisal Program (Tap 22.47%) John Brookes Maitland Varanus Island 40km Sales East Gas Spar Pipelines Maitland-3H Well Gas Pipeline Western Test Flaring Oil Pipeline Australia 40km from Varanus…
Marley Prospect: located under existing Harriet Joint Venture Infrastructure (Tap 12.22%) Marley (gas) Campbell Lee 4 gas field Marley 2 Drilling now July 2008 Established HJV Sinbad Bambra infrastructure and strategic East…
Harriet Joint Venture: Marley Prospect (Tap 12.22%) Marley-1 Marley-1 Top Barrow Took gas kick High Impact Gas Game Changer Suspended due Base Cretaceous to cyclone with results due end May 08 Marley-1 suspended in Jan 2006 due…
WA-351-P: Gas Exploration Hot Spot LNG Potential (Tap 25%) WA-404-P 200+m bid WA-351-P contains prolific by Hess/Woodside Triassic gas fairway known for Io/Jansz 20+Tcf potential for large gas Thebe discovery Woodside Pluto…
WA-351-P: Multiple low risk leads identified (Tap 25%) WA-351-P Leads Map Over 20 leads defined on high quality 2D seismic data Each has strong amplitude support for the presence of gas Cumulative unrisked potential 10 Tcf,…
WA-351-P: Example of Seismic Evidence of Gas 2D Seismic Line Near Stack Large horst closure at Top Triassic 9/5/08 80610.1 15
WA-351-P: Example of Seismic Evidence of Gas 2D Seismic Line Far Stack Bright Far Stack indicates presence of gas Large horst closure at Top Triassic Historical success rate around 50% for drilling prospects on 3D…
Bass Basin T/47P: Overlooked Oil Potential (Tap 40%, Operator) Fast track 3D seismic Volume Section Timeslice North Cormorant lead Oil discovered on block at Cormorant-1 (1970) Labatt 3D seismic survey acquired Dec 07…
South East Asia - Building a Circum-Borneo Portfolio Borneo basins have yielded billions of barrels Tap has a multi-national strategy capturing under-explored areas or overlooked resources SC-41 (Tap 50% & operator). Very high…
SC-41: Prospects and Leads Defined on 3D seismic (Tap 50%, operator) Over 20 leads identified on 750km2 3D seismic survey acquired mid 2007 SC-41 Leads identified at many Wahoo stratigraphic levels with structural and…
SC41: Wahoo Prospect Wildebeest-1 2000 Wahoo Prospect Wildebeest-1 drilled on 2D data, recovered oil in poor reservoir. Wahoo prospect…
SC41: Central Inversion Lumba Lumba Prospect Large Structural Mean recoverable volume in 50-100mmstb Closure range Moderate risk Reservoir Fairway Favourable reservoir fairways at many levels Focus area for hydrocarbon…
SC41: Significant Follow-up on Success 1 firm + 1 optional well in 2008 drilling campaign First deepwater wells to be drilled on 3D Seismic Data in Sandakan basin Information acquired during drilling will aid assessment of…
Brunei Block M (Tap 39%, Operator) Taps new strategy in action: high equity, operatorship in proven basins Tap awarded 39% operated role in Block M in October 2007 3,100km2 onshore block located in the prolific Baram Delta…
Brunei Block M: In the land of the giants (Tap 39%, Operator) Brunei geological cross section Offset Producing Fields Fairley 2 Tcf & 200 mmbls Ampa 12 Tcf &1000 mmbls Seria 1.6 Tcf &1100 mmbls Block M Beliat Field Produced oil…
Taps New Ventures Focus New Ventures Focus Taps goal is Quality not quantity South East Asia Proven basins Fluid market for opportunities numerous under review Focus Areas build: Near term drilling to long term ground floor…
Closing: Balanced Portfolio of Near Term High Impact Events May 08: Marley-2 drilling result Potential 250% increase in Tap reserves June 08: Woollybutt South Startup More than double field production July 08: Drilling in…
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