Tap Oil Limited IInvestor t Presentation P t ti March 2015 ASX C Code d TAP This presentation contains some references to forward looking assumptions, representations, estimates, budgets, and outcomes. These are uncertain by…
Corporate Profile An independent oil and gas company, company with a Market Snap Shot (ASX: TAP) regional focus in Australasia and headquartered As at 20 March 2015: in Perth, Western Australia Share Price A0.27 Tap has a 30%…
Tap Returns to Producer Status Commencement of Manora returns Tap to Producer Status Focus has been on the delivery of the Manora Oil Development Returned to ASX mid-tier producer status with first oil from Manora on 11 November 2014…
Tap Share Price vs vs. Peers Junior E&P companies with production have been impacted by the falling oil price and investor disinterest in the sector. Notably three of the four best performing stocks (Nido, Cue and Otto) have been…
Peer Group Analysis Peers producing (sorted by quarterly volume): Peers with no production: 1400000 Mkt Cap (A '000) As at 20 March 2015 1200000 Norwest Energy 6,630 1000000 Metgasco 8,880 MEO Australia 9,010 800000 Neon Energy…
Financial Overview Borrowing Base Debt Facility with BNP Paribas and Siam Commercial Bank Decision to debt fund Manora Oil Development to reduce potential dilution of shareholders and to therefore enhance returns to equity holders…
Financial Overview Manora Cost Estimates In February 2014, the Operator advised of a potential cost overrun of US28 million (gross) Tap is T i in i discussions di i with ith the th Operator O t as to t what h t the th costs…
Strategic Review Strategic Review Commenced Maximise shareholder value from the existing portfolio as the Company believes the value of the assets is materially greater than the value implied by the market capitalisation of the…
Board Spill Resolutions proposed by substantial shareholder - Mr Chatchai Yenbamroong Section 203D Notice Tap received notice from Mr Yenbamroong on 27 February 2015 of his intention to call an Extraordinary General Meeting to…
Tap Response to Board Spill Resolutions T Response Tap R Mr Yenbamroong is proposing to appoint 80% of the Tap Board when he has 19.98% voting power Potential conflicts due to contractual agreements entered into with Tap when Tap…
Forecast Manora Acquisition Payments 2015 Estimates Estimated Timing for Payment(s) in Payment Assumptions/Notes 2015 Repayment of NGP Carry: The repayment of US10 million by NGP to Approx. US1.03 Approx US1 03 million has been…
2P Reserves Deferred Payment NGPH, an entity controlled by Mr Yenbamroong, has demanded Tap pay US14.6 million for the 2P reserves payment, despite the Manora 2P reserves estimate for 31 December 2014 not yet being finalised by the…
Activity Pipeline The table below lays out the indicative forward Drilling and Development Activity Schedule for the next 15 months: Near-Term Catalysts Project Tap Share 2015 2016 Manora Oil Development Q1 Q2 Q3 Q4 Q1 Q2 Two well…
Achievements 2011 2012 2013 2014 2015 Exit from Brunei Sale of interest in Ghana first extension First Manora proceeds Tallaganda-1 volumetrics Finucane Fletcher JV period decision WA-351-P Renegotiation of Debt financing for…
C l i Conclusion Strategic Review Commenced Tap considers the Board spill by Mr Yenbamroong is an opportunistic attempt to gain control of the Company without making a formal offer and paying a control premium to all Tap shareholders…
Appendix www.tapoil.com.au t il ASX C Code d TAP This presentation contains some references to forward looking assumptions, representations, estimates, budgets, and outcomes. These are uncertain by the nature of the business and…
Portfolio Overview - Diversity and Balance Appraisal/ A i l/ Production P d ti Exploration Development & Revenue Thailand Australia WA Gas (G1/48 & G3/48) o a and Zola a d Bianchi a c Gas Discoveries sco e es Third Party Gas…
Manora Oil Development Located in Northern Gulf of Thailand Production commenced on 11 November 2014 with two wells Peak production of 15,000 bopd (gross) has now been achieved Reserves will be reviewed at the completion of…
Manora Drilling Program Status (as at 18 March 2015) Well Objective Status Completed (on production) MNA-01 Producer (single) Completed (on production) MNA-02 Producer (single) Producer MNA-03 Completed (on production)…
Carnarvon Basin: WA-290-P & WA-49-R Zola-1 and Bianchi-1 Gas Discoveries Located on trend and immediately south of the giant Gorgon gas field Three gas discoveries have been made on block - Zola Bianchi and Antiope Zola, Zola…
Carnarvon Basin: WA-351-P Tallaganda 1 Gas Discovery Tallaganda-1 Tallaganda-1 was the first Triassic well in WA-351-P and was drilled early in 2012 The structure on which the Tallaganda g discovery was made straddles WA-351-P…
Carnarvon Basin: WA-320-P & WA-155-P (Part II) WA-320-P & WA-155-P ((Part II)) Gas Prospect p Located south of the Zola-1 discovery in a similar geological setting Preliminary planning for an exploration well in WA 320 P has…
Barrow & Dampier Sub-Basins: WA-515-P & WA-516-P WA-515-P Located on the Rankin Platform in water depths ranging from less than 100 metres to 400 metres Area of 485 km2 (6 graticular blocks) Permit lies between the Wheatstone g gas…
Thailand: Exploration Near-Term Exploration Activity Oil discovery at Malida-1 with 9.5 9 5 metres of net oil pay interpreted Subject to further successful drilling to aggregate additional resource volumes, there is potential to…
Myanmar: Block M M-07 07 Award of Shallow Water Exploration Block Located in the gas and condensate prone Moattama basin, offshore Myanmar The 13,000km2 Block is 160km east of the 6.5Tcf Yadana g gas field and 110km north east of…
Manora Oil Development Platform construction Transporting of jacket Installed jacket Platform Topsides construction nearing completion Towing of topside Manora Oil Platform with drilling rig, and FSO in Floating storage and…
Capital Structure (as at 20 March 2015) Substantial Shareholders Name Shares % Northern Gulf Petroleum Holdings Limited & 48,580,575 19.97 Mr Chatchai Yenbamroong M&G Investment Mgt 23,983,178 9.86 DFA Group 14,131,323 5.81 Troy Hayden*…
Tap Board of Directors Douglas Bailey B.Bus (Acc), CPA, ACIS Non-Executive Director and Chairman (Director since Troy Hayden November 2009)) B.Econ, M. Fin Chairman of the Nominations Committee, Member of M Managing i Director/CEO,…
Contact Details Principal Registered Office Level 1, 47 Colin St, West Perth, WA 6005 T: +61 8 9485 1000 E: infotapoil.com.au ASX C Code d TAP This presentation contains some references to forward looking assumptions,…
Loading...
