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Equity Raising Presentation – Australis Oil & Gas Limited

Australis Oil & Gas Limited · Feb 15, 2019 · 43 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. Equity Raising Presentation – Australis Oil & Gas Limited – slide 1
    Early results from initial drilling program validate value of large undeveloped oil position Equity Raising Presentation 15 February 2019 ASX: ATS
  2. Equity Raising Presentation – Australis Oil & Gas Limited – slide 2
    Transaction Overview Executive Summary Tuscaloosa Marine Shale (TMS) Portugal Appendix
  3. Equity Raising Presentation – Australis Oil & Gas Limited – slide 3
    Equity Raising Overview & Timetable Australis is considering an equity raising of up to approx. US21.6 million (A30.5 million) through a private placement to existing and new investors Australis is seeking to place new equity to raise…
  4. Equity Raising Presentation – Australis Oil & Gas Limited – slide 4
    Australis Indicative Capital Structure Indicative capital structure assuming US21.6m raised via equity placement Shares Options Ownership % Shares and Options (millions) (millions)(A) Pre options Post Options On Issue: - Directors &…
  5. Equity Raising Presentation – Australis Oil & Gas Limited – slide 5
    Transaction Overview Executive Summary Tuscaloosa Marine Shale (TMS) Portugal Appendix
  6. Equity Raising Presentation – Australis Oil & Gas Limited – slide 6
    Investment Highlights Large undeveloped TMS oil position with proven economics and multiple near term upside catalysts Asset is focused in production delineated core of the TMS Operator of Quality First well in Australis drilling…
  7. Equity Raising Presentation – Australis Oil & Gas Limited – slide 7
    Corporate Overview Existing reserves, production and revenue with an institutionally supported register Founded in 2014 with significant capital contribution by the founders & key management of Aurora Oil & Gas, Capital Structure (Feb…
  8. Equity Raising Presentation – Australis Oil & Gas Limited – slide 8
    Australis TMS Land Position During 2018 Australis has increased and extended the life of its core land position Australis TMS Position Australis TMS Map Land Position Jan 19 Jan 18 HBP (acres) 31,400 27,600 Total Core Area (net acres…
  9. Equity Raising Presentation – Australis Oil & Gas Limited – slide 9
    Initial Drilling Program Objectives & Results Initial well program seeks to demonstrate value proposition by repeating historical well performance at updated cost base. TMS Type Curve Wells Key objectives of TMS Drilling Program:…
  10. Equity Raising Presentation – Australis Oil & Gas Limited – slide 10
    Initial Drilling Program Results Stewart 30H-1 Australis first new well materially outperforming the TMS Type Curve Cumulative Oil Production: Stewart 30H-1 v TMS Type Curve Commenced oil production on 30 December 2018 40,000…
  11. Equity Raising Presentation – Australis Oil & Gas Limited – slide 11
    Initial Drilling Program Status Early February All drilling and completion operations have been executed without any reportable safety or environmental incidents Drilling Operations Summary Running Casing on Stewart 30H-1 Well Status…
  12. Equity Raising Presentation – Australis Oil & Gas Limited – slide 12
    Initial Drilling Program Costs and Schedule Extensive planning delivering on-time and on-budget program The drilling and completion timetable is ahead of schedule and costs are currently under budget - Well D, C & T cost for Stewart…
  13. Equity Raising Presentation – Australis Oil & Gas Limited – slide 13
    Pathway to Value TMS Core acreage has multiple catalysts to realise and increase value Value Catalysts Single Well Economics - Pre-tax NPV10 (US in millions) Type curves conservatively based on 3.4 14.1 Well historical average well…
  14. Equity Raising Presentation – Australis Oil & Gas Limited – slide 14
    Significant Underlying Value Australis continues to add oil inventory on a highly accretive basis Australis business strategy to accumulate Evolution of Oil Reserves and Resources(1) oil in the ground reflected in our substantial…
  15. Equity Raising Presentation – Australis Oil & Gas Limited – slide 15
    Transaction Overview Executive Summary Tuscaloosa Marine Shale (TMS) Portugal Appendix
  16. Equity Raising Presentation – Australis Oil & Gas Limited – slide 16
    What is the TMS The TMS is an emerging shale play: its core is comparable with other prolific unconventional plays in the US TMS Location Onshore basin - Louisiana and Mississippi. On trend with Eagle Ford Basin in Texas, similar…
  17. Equity Raising Presentation – Australis Oil & Gas Limited – slide 17
    Australis TMS Well Performance The 15 wells drilled in 2014/15 within Australis core acreage demonstrate significantly higher average productivity than the average of other TMS wells drilled in Mississippi Individual 24 Month…
  18. Equity Raising Presentation – Australis Oil & Gas Limited – slide 18
    TMS Core Type Curve ATS type curve is history matched to production from the most recent 15 Mississippi ATS wells Total oil production per well initial, 24 months (mbbls) Production profiles (see appendix for full data set and…
  19. Equity Raising Presentation – Australis Oil & Gas Limited – slide 19
    TMS Oil Productivity Compared to Permian The average production from Australis TMS wells drilled in 2014 are significantly higher than Permian wells drilled in the same year. Industry improvements since 2014 have yet to be applied to…
  20. Equity Raising Presentation – Australis Oil & Gas Limited – slide 20
    Capital Cost Profile of Early TMS Wells TMS well costs trending downwards over time in line with other plays The first well drilled and completed by Australis (Stewart 30H-1) cost US1,503 /ft which is the lowest cost per foot well…
  21. Equity Raising Presentation – Australis Oil & Gas Limited – slide 21
    Well Cost Overview The major US shale plays have seen significant cost declines, and initial costs from Australis current well program indicate this will be replicated in the TMS Comparable Plays Well Cost Trends10 TMS Drilling costs…
  22. Equity Raising Presentation – Australis Oil & Gas Limited – slide 22
    Austin Chalk Trend Following recent EOG well results, there is significant activity in the South West targeting Austin Chalk Austin Chalk Trend EOG drilled the Eagles Ranch 14H-1 well during Q3 2017 Public data indicates liquids…
  23. Equity Raising Presentation – Australis Oil & Gas Limited – slide 23
    Transaction Overview Executive Summary Tuscaloosa Marine Shale (TMS) Portugal Appendix
  24. Equity Raising Presentation – Australis Oil & Gas Limited – slide 24
    Portugal Concessions Overview Australis owns two concessions onshore Portugal with significant development potential Asset Highlights Asset Location Significant Gas Large in-place discovered and tested gas Resource accumulation with 2C…
  25. Equity Raising Presentation – Australis Oil & Gas Limited – slide 25
    Portugal Prospectivity & Volumetrics Appraisal of a gas discovery with multiple nearby prospects and leads with a significant resource base Proposed Work Program Batalha Gas Discovery Batalha Concession Prospects Drill and test the…
  26. Equity Raising Presentation – Australis Oil & Gas Limited – slide 26
    Portugal Concessions Status Australis is working with Portuguese Authorities to achieve the necessary regulatory approvals to commence exploration and appraisal activity Work Program to Date Australis has completed a number of detailed…
  27. Equity Raising Presentation – Australis Oil & Gas Limited – slide 27
    Transaction Overview Executive Summary Tuscaloosa Marine Shale (TMS) Portugal Appendix
  28. Equity Raising Presentation – Australis Oil & Gas Limited – slide 28
    Directors & Management Demonstrated track record in oil & gas John Stewart Ian Lusted Darren Wasylucha Non-Executive Chairman Managing Director & CEO Chief Corporate Officer 25 years in the upstream oil and gas industry 25years in…
  29. Equity Raising Presentation – Australis Oil & Gas Limited – slide 29
    TMS Core Type Curve Summary of monthly oil production data for the most recent 15 Encana drilled, ATS operated modern offset Mississippi wells Lewis 7- Pintard Lyons Pintard Longleaf Longleaf Mathis Mathis Lawson Ash 13H Sabine Sabine…
  30. Equity Raising Presentation – Australis Oil & Gas Limited – slide 30
    Single Well TMS Core Type Curve ATS type curve is history matched to production from the most recent 15 Mississippi wells (drilled by ECA, operated by ATS) TMS Core TC Assumptions TMS Core Type Curve v TMS Production 250,000 Oil EUR…
  31. Equity Raising Presentation – Australis Oil & Gas Limited – slide 31
    TMS Value Potential 410 future net well locations with strong economics Single Well Economics and Sensitivities Pre-tax NPV10 (US in millions) 11 million/well 10 million/well 9 million/well 14.1 13.2 12.2 4.0 4.0 10.7 4.0 9.7…
  32. Equity Raising Presentation – Australis Oil & Gas Limited – slide 32
    Single Well Economics IRR Sensitivities 410 future wells with attractive return profile Single Well Economics and Sensitivities Pre-tax IRR D, C & T 11 MM/well D, C & T 10 MM/well D, C & T 9 MM/well 113% 89% 79% 71% 62% 73%…
  33. Equity Raising Presentation – Australis Oil & Gas Limited – slide 33
    TMS Base Case Economics Key Assumptions The production and opex assumptions are based on history and the capex costs are current third party service providers estimates Base Case Assumptions* Production Forecast EUR (30 Years) 30,000…
  34. Equity Raising Presentation – Australis Oil & Gas Limited – slide 34
    Reserves and Resource Update Australis continues to grow reserves and resources As an ASX participant Australis reports to the TMS Reserves & Resource Estimates1 SPE PRMS which requires any undeveloped Net Oil reserves, that are to be…
  35. Equity Raising Presentation – Australis Oil & Gas Limited – slide 35
    Financial & Operational Summary Field Cashflow financing overhead and land capex program in 2018 Key Financial Metrics - 2018 Sales Volumes (WI before royalties) 506,000 bbls Realised Price US68.80 Sales Revenue US35 million Field…
  36. Equity Raising Presentation – Australis Oil & Gas Limited – slide 36
    TMS Crude Oil Price The premium pricing of LLS to other onshore US crude benchmarks is becoming increasingly more attractive Crude Oil Spot Price, Daily Settlement, US/bbl Because of the proximity of Australis wells to the St. James…
  37. Equity Raising Presentation – Australis Oil & Gas Limited – slide 37
    Option Terms Summary Cash payable on Grant dates Exercise Price (A) Vesting Expiry Number exercise (A) Directors, Executives & Management 13 Nov 2015 0.25 Vested 31 Dec 2020 19,500,000 4,875,000 13 Nov 2015 0.30 (Series A) Vested…
  38. Equity Raising Presentation – Australis Oil & Gas Limited – slide 38
    Footnotes 1. All estimates and risk factors taken from Ryder Scott, report prepared as at 31 December 2018 and generated for the Australis concessions to SPE standards. See ASX announcement released on 6 February 2019 titled Reserves…
  39. Equity Raising Presentation – Australis Oil & Gas Limited – slide 39
    Glossary Unit Measure Unit Measure B Prefix - Billions bbl Barrel of oil MM or mm Prefix - Millions boe Barrel of oil equivalent (1bbl = 6 mscf) M or m Prefix - Thousands scf Standard cubic foot of gas /d Suffix - per day Bcf Billion…
  40. Equity Raising Presentation – Australis Oil & Gas Limited – slide 40
    Risk Factors Investing in the placement involves inherent risks. Prospective investors should carefully consider, among other things, the risk factors set out below before making an investment decision. The list of risk factors is not…
  41. Equity Raising Presentation – Australis Oil & Gas Limited – slide 41
    International Offer Restrictions This document does not constitute an offer of new ordinary shares (New Shares) of Statutory rights of action for damages and rescission Australis in any jurisdiction in which it would be unlawful. In…
  42. Equity Raising Presentation – Australis Oil & Gas Limited – slide 42
    International Offer Restrictions United Kingdom Certain Canadian income tax considerations: Prospective purchasers of the New Shares Neither this document nor any other document relating to the offer has been delivered should consult…
  43. Equity Raising Presentation – Australis Oil & Gas Limited – slide 43
    International Offer Restrictions Hong Kong Singapore WARNING: This document has not been, and will not be, registered as a prospectus This document and any other materials relating to the New Shares have not been, and under the Companies…

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