Tap Oil Limited Investor Presentation Asia Upstream Conference 26 February 2009 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 upstream Oil and Gas Company with a strong balance sheet, established production and quality exploration opportunities with a focus on Australia and South East Asia Key Strengths Established Asset…
Tap Oil: Capital Structure Top 20 Shareholders as at 31/12/08 Name Shares % Listed on the ASX since 1996 ANZ Nominees Limited * 23,226,499 14.84 National Nominees Limited * 20,923,721 13.37 156,486 million shares on issue Citicorp…
Tap Oil: Strong Value Proposition 0.79 per share value from just cash and value of locked in 3rd party gas contracts Taps diversified production portfolio, producing oil, gas and condensate and quality exploration…
Tap Oil Cash Flow: Multiple assets, multiple product streams Cash Flow Streams on a barrel of oil equivalent basis Woollybutt JV Oil 18% Harriet JV Liquids 27% Harriet JV Gas 21% 3rd Party Gas Contracts 34% 60% of…
Tap Contracted Third Party Gas Tap Third Party Gas Revenues Tap secured 33PJ of gas in 2005 from the John Brookes JV (JBJV) Taps JBJV sales contracts commenced in September 2007 at domestic market rates substantially higher than…
Woollybutt Oil Field Stable Oil Production (Tap 15%) Production commenced in May 2003 with recovery initially estimated to be 25 MMbbls over 5 years (from 2 wells) 29 MMbbls produced by January 2009 and total ultimate recovery…
Harriet Joint Venture - Oil and Gas Producing Assets (Tap 12.22%) Production resumed following June 2008 Varanus Island incident : Taps 3rd party gas from John Brookes resumed in Aug 2008 Oil production recommenced Oct 2008, with…
Harriet Joint Venture Area: Infrastructure Enhanced Development & Exploration Opportunities Kultarr potential gas development Linda North-1 gas Established HJV infrastructure appraisal/ development well and strategic position…
Poised for Growth Tap has: to achieve solid Growth Solid cash reserves and no debt Production assets generating positive balanced cash flow Building cash to: Weather the storm with no external funding required Deliver high…
Tap Oil: Exploration Assets Summary Brunei Block M Oil & gas redevelopment & exploration Drilling & seismic 2009 Philippines SC 41 Refined targets incorporating Lumba Lumba results Offset drilling by Exxon in 2009 Discretionary…
WA-191-P: Fletcher Remapping (Tap 8.2% in permit) Taps equity interest in Fletcher-3 & 4 Potential Potentialadditional further was 10.9333% appraisal locations appraisal locations Fletcher-3 successfully intersected high quality…
Potential LNG Projects on North West Shelf Wheatstone Thebe (BHP 100%) 4.5Tcf Woodside Pluto I 2-3Tcf Development 5 Io/Jansz 20+Tcf development wells in progress, completing Q3 2009 NWSV Existing Development (30+ Tcf)…
WA-351-P: LNG Potential (Tap 25%, BHP 55% Operator) Thebe (BHP) Triassic gas fairway found in WA-351-P 2-3Tcf has demonstrated many large discoveries Possible Floating in adjacent permits LNG plant Scarborough Over 20 leads defined…
WA-351-P: Example of Seismic Evidence of Gas 2D Seismic Line Near Stack Large horst closure at Top Triassic 25/02/09 98516.2 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…
WA-290-P: Zola High Impact Gas Exploration Well (Tap 20%) Moderate risk: Proven Triassic play type Immediately south of Gorgon field High potential: 1 Tcf recoverable gas Undergoing final prospect Zola prospect assessment…
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 Sabah Delta of barrels 1.5 BB Oil Sandakan Delta 3 TCF Gas 0.1 BB Oil 0.5 TCF Gas Tap has a multi-national strategy Rajang Delta No…
Brunei Block M (Tap 39%, Operator) Tap awarded 39% and operator role of Block M in October 2007 3,011km2 onshore block located in the prolific Baram Delta Tap plans aggressive 3-pronged appraisal and block-wide exploration…
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…
Tap Oil Summary Key Strengths Multiple assets producing a balance of oil and gas Strong financial position; A53 million cash, no debt Focused on delivering value and growth Maintenance and enhancement of core production…
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