Section 1 Corporate Review Robert Hosking, Managing Director Karoon 2 Annual General Meeting
Corporate Overview Karoon is an oil and gas exploration company with assets in Australia, Brazil and Peru. The Company has been listed on the Australian Securities Exchange since 2004 and has a current market cap A220 million. A333…
Karoons Strategic Vision Karoons strategic vision is to transform into a global Exploration and Production company with material production to underpin cash flow and enable cashflow generated exploration. Our Vision Our Strategy…
How will we make it happen 1. Acquire high quality cash generating production asset Karoons Strategic 2. Bring existing assets Continued through development to development of Pathway to production Karoons portfolio…
Karoons Production Acquisition Aspirations Establish wider relationships to expand development and production to nearby discoveries Production asset Make use of availability of economic redeployed with synergies to FPSOs existing…
Disciplined approach to high quality production acquisitions Building a portfolio of assets to sustain long term value and provide cash flow for further growth. Short term cash Cash flow to support Peru Long term cash available…
Focus on prolific proven petroleum systems Karoons portfolio includes assets in some of the worlds most prolific basins. Karoons Neon and Goi (Echidna and Kangaroo) fields are in the Santos Basin which has an average undiscovered oil…
Majors continue to be attracted to Brazil The 2017/18 Brazil Bid Rounds saw significant interest from industry majors. Four pre-salt and two concession bid-rounds in 2017/18 resulting in: 72 block acquisitions by 28 companies BRL…
Why are we so focused on Brazil Our 10 years of knowledge and working experience in Brazil places Karoon at an advantage when navigating regulatory regimes and searching for quality opportunities in the region. 44% (56 billion barrels)…
The changes improving investment opportunities in Brazil Petrobras no longer sole operator for pre-salt New Local Content Policy for new bid rounds New E&P policies Regulatory changes Exploratory phase extension Extension of…
Cost conscious in a transformational time US365 million work program expenditure reduced from Karoons 1 to 5 year exploration commitments Joint Venture cost sharing on operated work programs in 2019 Work Engagement with regulators led…
Global Oil Market Oil consumption growing in coming decades due to rising petrochemicals, trucking and aviation demand, requiring doubling of approvals of conventional oil projects*. 5 Year Weekly Europe Brent Spot Price FOB Dollars per…
Section 2 Technical Review Mark Smith, Executive Director Exploration Karoon 14 Annual General Meeting
Brazil: Santos Basin, Neon & Goi fields Progressing field development planning and nearfield exploration target evaluations. Currently planning for the Development and Production Phase ahead of FID. Awaiting ANP approval of Annexation…
Brazil: Santos Basin, Neon & Goi fields Subsurface summary with high quality 3D seismic. Neon Neon Neon PSDM RTM- Fullstack Amplitude map at Top PalB Water depth: 300 m. Reservoir depth: 1700 m. Contingent Resource (Statistical…
Brazil: Santos Basin, Neon & Goi fields Progressing field development planning and nearfield exploration target evaluations. Risk sharing and funding flexibility with possible deferred capex payment, equipment financing. Aim to…
Brazil: Santos Basin, S-M-1537 Clorita prospect Leveraging a decade of geological knowledge and operational experience in Bid Round 14. The block is located in the Southern Santos Basin, a known oil and gas producing region in a water…
Brazil: Santos and Campos Basins, New Ventures Leveraging basin expertise to target high potential pre-salt plays. Lula pre-salt field Santos basin, Brazil Reserves Mapped pre-salt lead in open acreage, Brazil Lula 7.381 billion…
Peru: Tumbes Basin, Z-38 Farmout success with offshore Peru heating up as a new industry focus. Force majeure lifted from Block Z-38 in July 2018. Karoon 40%* (Operator), Tullow 35%*, Pitkin 25%*. Tullow farminee has a long…
Peru: Tumbes Basin, Block Z-38 Marina Prospect Advanced geophysical studies have identified new targets. Marina-1 Prospect drilling early 2020 with a gross prospective best estimate resource of 256mmbbls (net 102 mmbbls to Karoon)*.…
Australia: Carnarvon Basin, WA-482-P The right address: Australias newest oil province. Permit extended with G&G work program only. Karoon 50%, Quadrant/Santos 50% (Operator). Large 13,539 sq km permit in an emerging oil prone…
Australia: Carnarvon Basin, WA-482-P New high potential plays identified. No anomaly at Levitt-1 consistent with well results at Top Legendre level. Some structures with anomalies and some without (potentially fault breached…
Australia: Carnarvon Basin, WA-482-P New high potential plays identified. Seismic line-1 Seismic line-2 Levitt-1 Muderong Fm shales thicker and drape Muderong Fm shale is thinner and and smear extend over the fault faulted at…
Australia: Browse Basin, WA-314-P Cooler outboard source rocks: wet-gas, condensate and oil-prone. Karoon 100% (Operator). Renewal term G & G studies next two years. Reprocessed seismic data shows potential for Montara Formation…
Australia: Ceduna Sub Basin, EPP46 Industry awaits NOPSEMA approval of drilling Environment Plan. Karoon 100% (Operator), awarded October 2016. Large, 17,649 sq. km permit in an emerging frontier, prospective oil and gas basin.…
Summary Continuing to work on 3 key pillars, with existing portfolio well placed to deliver on key pillars 2 and 3 Bringing existing assets through development to production and Targeted exploration. Key Pillar 1: Focussed on…
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