Good Oil Conference Presentation For personal use only September 2015 Building a NEW Empire in the Perth Basin Ken Aitken, CEO 2nd September 2015 n tho se h o ur s that ed excepts o n th o d erso n L ee p r efers s
Strategy For personal use only Sustainable long term value creation urs in t he working n tho se h o rust ha t ed ex cept s o nho d rso e nL e ep r e frse s 3 EMPIRE OIL & GAS NL
Empire A Perth Basin focused producer For personal use only 100% of the profitable Red Gully production hub in production licenses L18/19 and associated infrastructure, Closest hydrocarbon producer to Perth Excellent access and…
Achievements over the last 12 months For personal use only Red Gully (RG) Production Exploration Corporate/Finance Reserves 2 years without a Lost Time Perth Basin tenements now Built highly experienced Perth Incident (LTI) at RG…
Red Gully Financial Performance For personal use only FY 14/15 average gross Gas production = 7.9TJ/day FY 14/15 average gross Condensate production = 342.4 Barrels/day Revenue from sale of gas used to offset Alcoa prepayments…
Red Gully Hub - Gas/Condensate + LPG For personal use only Potential to Gas Transported Via Condensate to BP increase production Red Gully DBP pipeline to Kwinana capacity and add Alcoa LPG stripping Production Condensate…
Red Gully July 2015 Reserves Upgrade For personal use only RISC independent reserve study released in July 2015 after 12 months of steady B Sand production 1P gas reserve up 64% to 12.29PJ at 1 July 2015 2P gas reserves up 30% to…
Exploration Strategy Strategy to establish 2nd Production Hub For personal use only Sharpened focus on the North Perth Basin Seeking quality farm-in partners for transformational drilling program in 2016/2017 Farmed down South…
Red Gully - Near Field Exploration Potential For personal use only Four high quality exploration prospects 3D seismic coverage Gingin Close proximity to existing facilities Low cost development potential Red Gully North…
Red Gully North-1 Low risk exploration For personal use only Gingin-1 1965 wet gas discovery Combined flow 16 mmcf/d plus condensate Combined total Flow Old well-drilled 50 Years ago 16.6 mmcf/d Old technology Heavy mud used DST…
Red Gully North- 1 Updip test of known gas discovery For personal use only Gingin Field Contingent 1C 2C 3C Resources Sales Gas (PJ) 4.0 7.9 13.7 Condensate (Mbbl) 50 90 160 (Note Probabilistic methods have been used) Gingin…
Red Gully North-1 - Drilling Plans For personal use only People and Contracts Experienced Perth Basin drilling team established Drilling contract signed Q1 2015 with WA based drilling contractor Enerdrill. Rig 3(pictured) to drill…
Red Gully Production Hub Potential use only Red Gully Production Hub Potential 16 Jun17: Potential Plant Gingin East 14 upgrade to 15TJ/d and GG GG East Exploration Success*: Red Gully North East tie-in in 2C - 5.5 PJ case of…
Building the prospect inventory Black Swan Airborne Geophysical Survey For personal use only completed 30 May 15 - ahead of schedule - on budget - without incident Largest survey of its type in the Perth Basin Acquired 12,776…
Lockyer Deep Prospect For personal use only Targets 25-134, mid/best case 58 BCF Medium risk high impact well Targeting the Kingia/High Cliff play confirmed by AWEs Waitsia discovery Immediate follow-up potential at North…
Raven Oil Exploration Prospect For personal use only Targeting Jurassic sands down- dip of known oil (Cataby-1) Will test a large fault block adjacent to Jurassic source kitchen Medium risk high impact well Targeting 12 million…
2015/2016 Indicative Timeline RED GULLYonly Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Gas & Condensate Production use Reserves Review Reserves Review Tranche 2 Starts RGN-1 Gas Marketing** RGN-1 Tie In** Gas…
Empire value drivers For personal use only Two pronged growth strategy in the Perth Basin 1) Prove up additional reserves close to the Red Gully plant to expand or extend the high value production hub. 2) Create another high value…
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