AWE Limited Bruce Clement, Managing Director Macquarie Conference, 8 May 2014
About AWE Limited Australian energy company focused on upstream oil and gas and related energy opportunities Strategy focused on Oil, High Value Gas, and Unconventionals Portfolio of production, exploration and development assets…
The AWE Advantage Clear business strategy and goal Balanced portfolio with play diversity Multiple growth opportunities with infrastructure options Market access and attractive pricing Technical and commercial excellence Early…
Share price performance AWE performance vs ASX Energy Index & ASX 200 (FY14 YTD) (Rebased to 100 at 30-Jun-13) 140.0 130.0 120.0 110.0 100.0 90.0 80.0 AWE ASX Energy Index ASX200 AWE is closing the valuation…
Strategic Focus 6
Strategy built on 3 core platforms Strong oil Indonesia prices; Oil favourable New Zealand Australia currency Leveraged to pricing & Australia High Value Gas demand upside; Indonesia oil linked Liquids rich; USA…
Balance of oil and high value gas 8
Portfolio of quality assets Asset % Location Status 2P 2C mmboe mmboe Tui 57.5** Taranaki Basin Production Oi 31.25** Taranaki Basin Exploration Oil 30.1 10.2 Cliff Head 57.5 Perth Basin Production AAL 50 Natuna Sea Development…
Leveraged to rising gas markets CGG Viking 2 acquiring La Substantial uncontracted Bella 3D seismic survey domestic gas position Industry experts forecast the domestic gas price to rise sharply over the next 5-10 years Over 50% of…
Highlights for nine months to 31 March 2014 11
HSE is always a top priority AWE Operated 12 Month Rolling Average Performance 6 AWE LTIF Incidents per Million man hours 5 4 AWE TRCF 3 2 APPEA Total Recordable 1 Injury Rate (2012-13) 0 No Lost Time Injuries…
Strong YTD financial performance Financial performance for the nine month period to 31 March 2014 Production 4.3 MMBOE up 17% on pcp Sales Revenue 268 million up 21% on pcp Field Opex 90 million up 10% on pcp Field EBITDAX 178…
Guidance FY2013-14 Guidance YTD Key Indicator FY2013-14 31/3/2014 Production (MMBOE) 5.0 5.5 4.3 Revenue (m) 290 320 268 Development expenditure (m) 160 180 94 Exploration expenditure (m) 50 26 Production and revenue trending…
Strategic portfolio management Sale of 50% interest in Ande Ande Lumut Oil Project to Santos completed Acquired additional 15% in Tui Oil Fields and 6.25% in Oi exploration well (NZ PMP38158) from Mitsui E&P Australia Acquired a 60%…
Growth Projects 16
New Zealand drilling under way Pateke-4H development well drilled to 4,772m including a 749m horizontal section through high quality reservoir Initial evaluation suggests a resource range consistent with the pre-drill estimate of…
Perth Basin drilling to start mid 2014 Independent unconventional prospective resources estimate for EP413, EP455, L4 and L5: o 11.1 TCF of gas and 31 mmbbls of NGLs gross o 9.2 TCF and 14 mmbbls of NGLs net to AWE Testing at…
Sugarloaf to accelerate drilling Sugarloaf AMI, Texas, USA Results from Eagle Ford wells outperforming modelled type curves Tighter well spacing delivering similar well recovery Strong initial performance from Austin Chalk wells…
Substantial east coast gas potential Otway Basin Acquired 3D seismic over 928 km2 of VIC/P67, including La Bella field AWE decision to participate in La Bella drilling due 2H CY2014 Blackwatch gas field in VIC/RL12 close to existing…
Substantial east coast gas potential Bass Basin Two Yolla wells planned for summer of 2014/15 rig contracted Capex estimate of 213 million gross (net 75 million to AWE at 35%*) Engineering for installation of compressor modules in…
Ande Ande Lumut oil project Sale of 50% interest and transfer of Operatorship to Santos complete Wellhead platform FEED and FPSO contracting progressing FID planned for FY 2014/15 K Sand (101 mmbbl gross) development capex USD 800…
Indonesia appraisal & exploration Lengo gas field (Bulu PSC, 42.5%) Operator preparing development concept and undertaking gas commercialisation studies North Madura PSC (50%, Operator) and Terembu PSC (100%, Operator) Evaluating…
New exploration permits Onshore New Zealand Offshore Western Australia WA-497-P 24
Outlook 25
Delivering production growth Ande Ande Lumut oil Perth Basin project unconventional development gas Pateke tie-in to development boost Tui production BassGas development wells to access significant Sugarloaf reserves…
Looking ahead near term catalysts New Zealand two well drilling campaign currently under way o Pateke-4H development well and Oi-1 exploration well Plan to drill three unconventional gas wells in Perth Basin in CY2014 o Drover-1,…
Summary Highlight: On target to achieve goals and strategic objectives Financial: Strong and disciplined performance Highly liquid balance sheet with significant capacity Solid foundation for growth Operations: Meeting or…
Questions
Appendix YTD FY13-14 Production, Reserves and Resources 30
YTD FY13-14 production summary REGION AND ASSET INTEREST YTD FY13-14 PREVIOUS PRODUCTION CORRESPONDING PERIOD 9 months to 31 Mar 2014 9 months to 31 Mar 2013 Australia (000 BOE) (000 BOE) BassGas 46.25% 1,518 768 Casino/Henry 25%…
AWE 2P Reserves as at 31 December 2013 2P Reserves Project/Area Equity (million boe) BassGas 46.25% 26.9 Otway Basin 25.0% 10.2 24.8 BassGas 26.9 Otway Basin Cliff Head 57.5% 2.4 Cliff Head Onshore PB 33-100% 1.7 Onshore PB Tui…
AWE 2C Resources as at 31 December 2013 2C Resources Project/Area Equity (million boe) Bass Basin 44.75-46.25% 36.0 Otway Basin 25.0% 1.8 Bass Basin Cliff Head 57.5% 0.6 29.1 Otway Basin 36.0 Cliff Head Onshore PB 50%-100% 7.1…
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