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AGM – Target Energy Limited

Target Energy Limited · Nov 21, 2014 · 22 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. AGM – Target Energy Limited – slide 1
    TARGET ENERGY LIMITED ANNUAL GENERAL MEETING PERTH 21 NOVEMBER 2014
  2. AGM – Target Energy Limited – slide 2
    COMPANY SNAPSHOT Overview Key Metrics US Permian Basin and Gulf Coast, oil focused ASX Code TEX OTCQX Code (US) TEXQY Offices in Houston, Texas and Perth, Western Australia Shares on issue1 499.7m Producing oil & gas and generating…
  3. AGM – Target Energy Limited – slide 3
    ALIGNED BOARD AND MANAGEMENT BA, MA Economics and Law (Cambridge) Chris Rowe Over 35 years of legal and commercial experience in the oil and gas and resources sector Chairman of ASX listed Northern Star Resources and Hawkesbridge…
  4. AGM – Target Energy Limited – slide 4
    CLEARLY DEFINED STRATEGY Targets strategy has three key elements which focus on proven oil basins, attractive well economics and partnerships. Strategy Aerial View of the Howard Glasscock Field, adjacent to Targets Permian Basin leases…
  5. AGM – Target Energy Limited – slide 5
    CLEARLY DEFINED STRATEGY PLANNED DIVESTMENT Target seeks to take advantage of the strong Permian Basin M&A market to divest Fairway in early 2015. Permian Basin is the largest US oil and gas M&A market, with Recent Permian Basin…
  6. AGM – Target Energy Limited – slide 6
    CONTENTS TARGETS ASSETS Oil tanks at East Chalkley 7
  7. AGM – Target Energy Limited – slide 7
    PRODUCING ASSETS IN TEXAS AND LOUISIANA Active in West Texas and the Texas & Louisiana Gulf Coasts Target Energy US Assets Section 28 St Martin Parish, La East Chalkley Cameron Parish, La Merta Wharton Co, Tx Fairway Howard County…
  8. AGM – Target Energy Limited – slide 8
    WHY THE PERMIAN BASIN GO WHERE THE OIL IS Spraberry / Wolfcamp field in the Permian Basin is the worlds second largest oil field. Worlds Largest Oil Fields (BBOE) 1,2 100 160 90 80 Total Recoverable Resource 70 60…
  9. AGM – Target Energy Limited – slide 9
    PERMIAN BASIN The Permian Basin is the most prolific and coveted onshore basin in the US. Regional Map of Permian Basin 1 Current daily production: 1.3 million barrels of oil and 4 billion cubic Target Energy Leases feet of gas; more…
  10. AGM – Target Energy Limited – slide 10
    STACKED PAY, THE KEY DIFFERENTIATOR Stacked pay increases the volume of oil in place and reduces risk. A comparison of resistivity logs in US shale oil plays Stacked pay: Midland Basin resistivity logs illustrate (in red) multiple…
  11. AGM – Target Energy Limited – slide 11
    PERMIAN BASIN FAIRWAY PROJECT Target retains its focus on the Permian Basin focused company and is committed to expanding its high quality portfolio. Map of Targets Fairway Project in the Midland Basin4 Location Howard & Glasscock…
  12. AGM – Target Energy Limited – slide 12
    PERMIAN BASIN FAIRWAY PROJECT Prospectivity in the Permian Basin is evidenced by high levels of drilling activity. Map of Targets Fairway Project in the Midland Basin 2,914 new wells drilled Regional below 6,000 ft in Howard Activity…
  13. AGM – Target Energy Limited – slide 13
    PERMIAN BASIN FAIRWAY DEVELOPMENT PLAN Multiple potential completions per well.1 Phase 1 Fusselman Phase 2 Wolfberry Cline Upside 3,900 -5,700 Clearfork 3,900 -5,700 Clearfork 3,900 -5,700 Clearfork Upper Spraberry Upper Spraberry…
  14. AGM – Target Energy Limited – slide 14
    PERMIAN BASIN FAIRWAY ACTIVITY The accelerated pace of drilling is starting to show through increasing production figures. Fairway Project Planned Activity 20141 Fairway Project Gross Quarterly Production FY14 (BOEPD) 400 Three wells…
  15. AGM – Target Energy Limited – slide 15
    PERMIAN BASIN FAIRWAY PRODUCTION GROWTH Cash margins are strong at Fairway and production is estimated to rise c.160% by the end of Q1 2015. Average Prices, Taxes, LOEs and Cash Margins (/boe) 3 Estimated Average Daily Net Production1,2…
  16. AGM – Target Energy Limited – slide 16
    PERMIAN BASIN SHALE PLAYS DRIVING GROWTH Fairway is positioned in centre of two active shale plays. Map of Apaches Permian Basin Interests1 Execution - Pad Drilling Example (courtesy Laredo Petroleum) 2 Targets Fairway Project…
  17. AGM – Target Energy Limited – slide 17
    OTHER ASSETS - EAST CHALKLEY FIELD Partners plan to increase oil recovery through a waterflood. Schematic of the East Chalkley Field, Cameron Parish Acres Held 714 gross / 250 net Working Interest 35% Operator Magnum Hunter…
  18. AGM – Target Energy Limited – slide 18
    CONTENTS CORPORATE Wellhead at East Chalkley 19
  19. AGM – Target Energy Limited – slide 19
    RESERVES & RESOURCES 2014 Reserves assessment has increased Targets 1P reserves by 20%. Oil constitutes 66% of 1P and 2P reserves. Targets Net Reserve & Resource Position1 Growth in 1P Reserves Net Reserves & Barrels of Oil 800…
  20. AGM – Target Energy Limited – slide 20
    CASH FLOWS FUNDED FOR DRILLING Target has successfully raised A5m to fund Fairway drilling operations to our planned point of divesture in early 2015. Comments Projected Cashflow Waterfall, October to March 2015 (USm)2 Successful…
  21. AGM – Target Energy Limited – slide 21
    SUMMARY 2014 has been Target Energys most active year to date A major drilling program underway in our Permian Basin Fairway Project will result in 15 producing wells by the end of 2014 The drilling program at Fairway has added…
  22. AGM – Target Energy Limited – slide 22
    TARGET ENERGY LIMITED USA 1900 ST JAMES PLACE, SUITE 425 HOUSTON, TEXAS 77056 T: +1 713 275 9800 F: +1 713 275 0999 AUSTRALIA 6 RICHARDSON STREET, SUITE 5 WEST PERTH, WA 6005 T: +61 8 9476 9000 F: +61 8 9476 9099 TARGETENERGY.COM.AU…

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