SCHEME MEETING PRESENTATION BY CHAIRMAN JIM MCKERLIE 27 JANUARY 2016
WELCOME The Drillsearch Board would like to welcome you to the Scheme Meeting Jim McKerlie Philip Bainbridge Teik Seng Cheah Chairman Non-Executive Director Non-Executive Director Fiona Robertson Ross Wecker Non-Executive…
BACKGROUND TO THE SCHEME All-scrip merger with Beach Energy via a scheme of arrangement Structure Drillsearch shareholders will receive 1.25 Beach shares for each Drillsearch share held Combined Drillsearch shareholders to own…
MERGER BENEFITS Creating the leading ASX-listed oil and gas mid-cap Synergies from two complementary businesses Strategies aligned around a Cooper focus, East Coast Gas and nearby Australia Existing shared values and a track record…
COOPER BASIN AT THE CORE FOR BOTH COMPANIES Combined interests in permits covering 69,000 km2 6 DRILLSEARCH SCHEME MEETING JANUARY 2016
RECENT MARKET DEVELOPMENTS As foreshadowed in the Scheme Booklet, volatility in global oil markets continues Impact of oil price persistently below US40/bbl for the past two months: Australian exploration and production companies…
TWO COMPANIES ALIGNED ON STRATEGY Underpinned by similar values and approach, and a history of successful partnership Cooper Basin core provides platform to consider the emerging opportunity set created by the weakness in…
INDICATIVE TIMETABLE Event Date Drillsearch shareholder meeting to vote on the scheme 11.00am, 27 January 20161 Second Court Date 18 February 2016 Scheme Effective Date 18 February 2016 Record Date 7.00pm, 25 February 2016…
QUESTIONS Questions regarding the proposed Merger 10 DRILLSEARCH SCHEME MEETING JANUARY 2016
FORMAL BUSINESS 11 DRILLSEARCH SCHEME MEETING JANUARY 2016
NOTICE OF SCHEME MEETING Notice of Scheme Meeting Dated 16 December 2015 12 DRILLSEARCH SCHEME MEETING JANUARY 2016
SCHEME RESOLUTION To consider and, if thought fit, to pass the following resolution in accordance with section 411(4)(a)(ii) of the Corporations Act 2001 (Cth): That, pursuant to and in accordance with section 411 of the…
VOTING THRESHOLDS For the resolution to be passed, voting must meet two thresholds: more than 50% in number of Drillsearch Shareholders (other than Excluded Shareholders) who are present and voting at this scheme meeting, either…
PROXY VOTING Drillsearch has received 259,671,725 valid proxy votes representing 926 holders and 58.86% of our issued share capital eligible to vote on the resolution Number of Number of Holders Votes For 761 254,697,339 Against…
VOTING BY POLL On a poll, every member who is present in person or by proxy, attorney or representative has one vote for each share held. Each voting shareholder or proxyholder who registered today received a yellow voting card.…
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