RIU Good Oil Conference 3 SEPTEMBER 2015 Continuing to Deliver in a Challenging Market Walter Simpson Acting Chief Executive Officer
Introduction to Drillsearch Eastern Margin Oil Production Western Flank Oil Production Western Wet Gas Production One of the largest acreage positions in the Cooper Basin 3 DRILLSEARCH RIU GOOD OIL CONFERENCE…
Delivering Success with the Drill Bit Drillsearch Drilling Activity A history of adding value through exploration *Cypress-1 excluded from success rate as operation suspended. 4 **Anakin-1 and Padme-1 excluded from success rate…
FY2015 Strong Performance in a Difficult Climate Record work program delivered Production of 3.0 mmboe Oil reserves increased post production Underlying profit* little changed Decisive measures taken in response to lower oil…
Prioritising our Capital in a Challenging Environment Activity that delivers production, cash flow and reserves Unconventional replacement Longer-dated value opportunities Matching future activity and capex to operating cash…
FY2016 Production Guidance1 Guidance FY2015 (a) FY2016 (f) Production (mmboe) 3.0 2.8 3.22 Investment in FY2015 delivers oil production in FY2016 Production Split Oil Wet Gas FY2016 Facilities and wellhead capacity to maintain…
FY2016 Production Guidance New Fields Coming Online New Field Start Ups 1st Half FY2016 2nd Half FY2016 Western Flank Oil Existing Production from Bauer, Chiton, Hanson, CKS Fairway (Beach Joint Stunsail (online July 2015) Venture)…
FY2016 Capex Guidance1 Our Priorities: Production Cash flow Reserves Replacement Guidance FY2015 (a) FY2016 (f) Capex (m) 142m 80m 110m2 FY2016 Capital Expenditure Split 22 wells planned; with up to 15 exploration wells…
FY2016 Catalysts 1. Western Flank - 4. Maroochydore-1 4. New fields & wells exploration well in coming online the Inland-Cook (Q2) 2. Wet Gas 5. Northern Cooper Connection of Two well wet gas 6. exploration multiple…
Cooper Basin Growth Sustainable Repeatable Business Inland-Cook Growth upside from existing Western Flank Oil assets Exploration Technical Immaturity Northern Wet Gas Western Wet Gas Exploration Key Eastern Western Wet…
Our Proven Approach to Adding Value Across the Chain Evaluate Cooper Our Strengths Proven technical skills a history of success Explore Technically Driven Maintaining an independent technical view Applying innovative technical…
Key Takeaways Decisive response to changing market Underlying profit maintained* Strong balance sheet Continued investment in diversified production growth High quality portfolio drives 50% production growth over five years…