Presentation to the Macquarie Securities Conference May 2014 Building Australias leading independent oil and gas company
Vision and Approach Our goal is to build Australias leading independent oil and gas company through: Delivering sustained growth in shareholder value; Being a partner and employer of choice, well regarded by our communities and…
Key Messages Focused on growing reserves, production and cash flow Profitable, with self-funded work programs through FY2016 Balanced portfolio with multiple growth opportunities Management team with a track record of…
Past, Present and Future FY2009 FY2014 FY2019 Mid-tier oil and gas Leading independent oil Descriptor Oil and gas explorer company and gas company Production 180,167 boe 3.0 to 3.3 mmboe More than double 85% oil and 93% oil and…
Three Key Business Streams OIL SHORT TERM ENGINE WET GAS MEDIUM TERM UNCONVENTIONAL UPSIDE AND CASH FLOW GENERATOR DRIVER OPPORTUNITY Australias third-largest onshore Eastern Australian gas demand Proving up commercially oil…
Drillsearch: A material Cooper Basin player DRILLSEARCH CORPORATE PRESENTATION MAY 2014 6
Oil: Western Flank Continues to Outperform PEL 91 Drillsearch 60%, Beach 40% 12 discoveries with three fields in production including Bauer, the largest oil field on the Western Flank Average production of around 13,000 barrels a…
Oil: Opportunities to Sustain Western Flank Production Bauer central facility expansion planned for completion in the June quarter Additional wells to be brought online imminently: Bauer-12 and -13 and Bauer North-1 Kalladeina,…
Oil: Eastern Margin and Inland Cook Eastern Margin Drillsearch 40%, Santos 60% Mature oil production (1,200 bopd gross) with exploitation upside (2.5 million barrels of 2C Contingent Resource) 10-well appraisal and development…
Wet Gas: Western Wet Gas Western Wet Gas Fairway PELs 106, 107, 513 and 632 PELs 632 and 513 Drillsearch 40%, Santos 60% 2P reserves 73 bcf (gross) over eight discoveries Santos funding 120 million across both permits multiple…
Wet Gas: Northern and South West Queensland Wet Gas Northern Wet Gas Five Permits - Drillsearch Interests 75-100% Kickstarting development of the Northern Wet Gas assets (formerly Acer Energy assets) Workover program at Flax targets…
Unconventional: Potential Lures the Majors Key Australian Unconventional Farm-Ins Amount 152m Amount 210m Acres 4.1m Acres 8.0m EV / Acre 37.3 EV / Acre 26.3 Amount 156m Date Nov-2012 Date Jun-2012 Acres 7.7m EV / Acre 20.3 /…
Unconventional: Program Accelerated Farm-in renegotiated and program extended and expanded Charal-1 well drilled to target depth Hydraulic stimulation and testing of the wells to begin in the September quarter Program designed to…
Summary Focused on growing reserves, production and cash flow Record production of 3.0 to 3.3 mmboe expected in FY2014; recent PEL 91 drilling successes to be factored in at the 30 June 2014 Reserves Update Profitable, with…
Appendices
Reserves and Resources as at 31 December 2013 As a result of the arithmetic aggregation of the field totals, the aggregate 1P estimate may be conservative and the aggregate 3P estimate optimistic, as the arithmetic method does not…
Corporate Profile Financial Share Price Performance (Since 1 July 2013) ASX Ticker ASX: DLS 160% DLS.ASX XEJ.ASX S&P/ASX Index ASX 200 150% Market Cap (Am) 683 140% Shares on Issue (m) 432 130% Share Price (6 May 2014) (A/sh)…
Net Profit Reconciliation 190,000 200,337 56,180 140,000 18,219 7,039 Valuation 6,498 112,401 17,899 Income Tax 90,000 4,925 FX 32,494 21,549 40,000 PRRT 35,534 (3,370) (10,000) HY13 Revenue Direct Op DD&A…
Gross Margin: BOE Analysis 140.00 Oil Gross Margin (/boe) Gross Margin per boe for both oil and 120.00 gas has increased 100.00 Avg Price: 116.00 Avg Price: 126.31 Margin: 81.02 Gross margin increased by 9/bbl as a A…
Capital Expenditure Original Capex Capex Guidance FY2014 Guidance (March 2014) M M Exploration Oil 22 27 25 29 Wet Gas 8 10 45 Unconventional 11 14 30 34 Total Exploration 42 51 60 68 Development Oil 33 41 38 43 Wet Gas 15 18…
Active drilling in all businesses 2013 2014 2015 Permit DLS % Operator Total Sept Dec Mar Jun Sept Dec Mar Jun Q Q Q Q Q Q Q Q OIL Western Flank 60-43 BPT/SXY Wells for this period to be finalised with JV 14 Eastern Margin 40…
Project Areas: Oil Business Western Flank Oil Fairway PEL 91 PEL 182 Eastern Margin Oil Fairway ATP 299P ATP 783P DLS Interest 60% 43% DLS Interest 40% 100% Operator Beach (40%) Senex (57%) Operator Santos (60%) Drillsearch Discoveries…
Project Areas: Wet Gas Business Western Wet Gas PEL 106 (B) PEL 632 (106A) PEL 107 PEL 513 DLS Interest 50% 40% 60% 40% Operator Beach (50%) Santos (60%) Beach (40%) Santos (40%) Discoveries 8 8 -1 - Fields in Production 3 1 shut in -…
Project Areas: Unconventional Business Central Unconventional ATP 940P ATP 932P DLS Interest 40% operator 100% operator QGC (BG Group) 60% N/A Discoveries - - Fields in Production - - - 3D Seismic coverage 45% of 1,1347km 2…
Strong Management Team and Board Brad Lingo Ian Bucknell David Evans Peter Fox Duncan Lockhart Dudley White Managing Director Chief Financial Acting Chief Chief Commercial Acting Chief GM Corporate Brad has more than Officer…
Committed to HSE and Good Corporate Citizenship HSE no lost time injuries Prioritize importance of corporate social responsibility Corporate governance upheld to highest standards Thargomindah Primary School P&C fund…
HEAD OFFICE LEVEL 16 55 CLARENCE STREET SYDNEY NSW 2000 PH: +61 2 9249 9600 FX: + 61 2 9249 9630 E: ADMINDRILLSEARCH.COM.AU W: WWW.DRILLSEARCH.COM.AU Please contact for further information DUDLEY WHITE GM CORPORATE COMMUNICATIONS
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