Tap Oil Limited Investor Presentation Good Oil Conference 3 September 2008 www.tapoil.com.au This presentation contains some references to forward looking assumptions, representations, estimates budgets and outcomes. These are…
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 Taps value proposition: Grow asset value per share by discovery and addition of reserves and resources Key Drivers Established assets producing long term cash flows, funding exploration Proven basins…
Tap Oil: Multi-pronged strategy for growth Brunei Block M Oil & gas redevelopment & Philippines SC 41 exploration Reviewing Lumba Lumba Drilling & seismic 2008/9 result, substantial prospects remain WA Oil Existing production…
Tap Oil Existing Business: Restoring Strong Cashflow Contracted Third Party Gas John Brookes JV now back on line and delivering gas Harriet JV (Tap 12.2229%) Woollybutt JV (Tap 15.00%) Recent oil exploration success…
Woollybutt Oil Field - Oil Production Expanding (Tap 15%) Woollybutt was developed and commenced production in May 2003 on the basis of 25 MMbbls reserves and a 5 year reserve life (from 2 wells). Produced to date 29 MMbbls…
Harriet Joint Venture - Oil and Gas Producing Assets (Tap 12.22%) Production currently shut in due to pipeline incident on 3rd June Effective emergency response, no casualties Taps contracted gas from John Brooks has resumed…
Harriet Joint Venture Area: Infrastructure Enhanced Development & Exploration Opportunities Kultarr potential Established HJV infrastructure development and strategic position rapid field development Lee-4 gas development well…
Tap Contracted Third Party Gas In 2005 Tap secured 33PJ of gas Tap Third Party Gas Revenues from the John Brookes JV (JBJV) at 2005 gas prices New Domgas contract prices have increased substantially in the last two years…
LNG: Fuel for the 21st Century 17 countries importing 163MT in 2007, with a further 10 countries proposing LNG import terminals World consumption forecast to double or triple by 2020 Australia is ideally placed to benefit from…
WA-351-P: Gas Exploration Hot Spot LNG Potential (Tap 25%, BHP 55% Operator) WA-351-P contains prolific Triassic gas Thebe (BHP) 2-3Tcf fairway with known potential for large gas accumulations Possible Floating LNG plant Over…
WA-351-P: Example of Seismic Evidence of Gas 2D Seismic Line Near Stack Large horst closure at Top Triassic 03/09/08 86909.5 13
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…
WA-290-P: Zola High Impact Gas Exploration Well (Tap 20%) Moderate risk: Proven Triassic play type Immediately south of Zola Gorgon field prospect 1 Tcf potential Undergoing final prospect assessment Likely drilling…
WA-191-P: Fletcher Oil Field Appraisal (Tap 8.2%) Follow up to Fletcher-1 and 2 oil Fletcher-3 location discovery in 2007 Fletcher-1 & 2 Remapped based on Fletcher-1 & 2 results Targeting 10-15 mmstb Drilling 2H 2008…
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…
Brunei Block M (Tap 39%, Operator) Taps 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 Tap…
Brunei Block M: Belait Appraisal (Tap 39%, Operator) Offset Producing Fields Fairley 2 Tcf & 200 mmbls Ampa 12 Tcf &1000 mmbls Seria 1.6 Tcf &1100 mmbls Belait Field Block M 10km Contingent Resource range up to 50mmboe SERIA…
SC 41: Reviewing Lumba Lumba result (Tap 50%, Operator) Disappointing Lumba Lumba dry hole Still seeking to unlock the basins potential Number of remaining play types with large potential SC56 Exxon Operator Drilling 1+ wells…
Tap Exploration/Appraisal Portfolio: Key Activities Region Permit Prospect/ Activity Size Value (Equity%) Lead/Well Potential Carnarvon WA-334-P Dibbler-1 Drill in Q3 2008 50Bcf moderate Basin 20% WA-191-P Fletcher-3 Fletcher-3 in…
Tap Oil Summary Key Strengths Established Asset base Strong financial position Focused on delivering growth Maintenance and development of core production assets High impact, low-moderate risk exploration Uniquely leveraged…
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