Investor Roadshow Presentation SEPTEMBER 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…
Investment Highlights Focused on growing reserves, production and cash flow Solid production base with a strong balance sheet Experienced management team Focused strategy across three businesses: Oil - Near-Term Growth Engine and…
Projects Only ASX 200 Company Offering Pure Cooper Basin Exposure 6 DRILLSEARCH SEPTEMBER 2014 ROADSHOW
Plan: Five-Year Roadmap FY2009 FY2014 FY2019 Production 0.2 mmboe 3.4 mmboe Targeted to double 85% oil and 95% oil and Highly leveraged to oil, gas Revenue source 15% gas 5% Gas and NGLs and NGLs Capex scaled to rate of…
Risk Projects Central Cooper Unconventional Northern Cooper Gas & Liquids Western Flank exploration Northern Wet Gas* Inland Cook Western Wet Gas Key Eastern Oil Margin Western Flank development Wet Gas…
Self-sustaining business model Unconventional Optimise spend to deliver value drivers Wet Gas Grow reserves and production commercialise new and existing discoveries Oil Maintain and grow production while replacing…
Bauer facility OIL BUSINESS 10 DRILLSEARCH SEPTEMBER 2014 ROADSHOW
Oil: Western Flank Production Production 12,485 bopd gross production in Q4 FY2014 14 wells in production, including 11 in Bauer 10,000 bopd pipeline with remainder trucked Fluid handling facilities upgrade to 50,000 bpd awaiting…
Oil: Western Flank Exploration PEL 91 Six exploration wells in total in FY2015 (5 oil and 1 gas) Balgowan-1 discovery announced in August* Burners-1 Multiple pay targets in the McKinlay/Namur, Mid-Namur and the Birkhead 500km…
Oil: Inland-Cook and Eastern Margin Inland-Cook Hurron is the biggest oil prospect in the portfolio based on vintage 2D seismic Beach farm-in - two wells and funding seismic to earn 45% 3D seismic acquisition completed Eastern…
Oil: Northern Cooper Horizontal well trajectories across Flax Short-Term Objectives Drilling at Banyan-1 and Juniper-3 in Q1 FY2015 Stimulation and recompletion of Flax-1 Restart expected at initial rate of 200-400 bopd of…
Middleton facility WET GAS BUSINESS 15 DRILLSEARCH SEPTEMBER 2014 ROADSHOW
Gas Market Opportunity East Australian gas demand seen almost tripling by 2025, driven by new LNG export projects East Coast Demand Opportunity expected to be available to new Cooper Basin Supply (PJ)* Minimum required Sustainable…
Wet Gas: Western Cooper Beach JV Production: 0.47 mmboe of production in FY2014 Economics improved by liquids- rich Canunda field Drilling: Four wells planned in PEL 106: 3 exploration 1 appraisal well Broader program…
Wet Gas: Western Cooper Santos JV Seismic: 329km2 Jacenza 3D survey acquisition completed Forward strategy waiting on results of Nulla Flowline ILI Drilling: Eight wells planned: 6 in PEL 513 2 in PEL 632 Development:…
Ambassador Oil & Gas Transaction Drillsearch has acquired controlling interest of 84% as at 28 August 2014 Active work program in PEL 101 to demonstrate prospectivity of broader region, including Ambassadors 47.5%-owned PEL 570…
Wet Gas: Northern Cooper PEL 101 Three untested discoveries Five wells planned in FY2015 Low risk wet gas potential Close to pipelines Vanessa Gas Discovery Around 4km from existing pipeline Extended production testing…
Weatherford 826 rig UNCONVENTIONAL 21 DRILLSEARCH SEPTEMBER 2014 ROADSHOW
Unconventional: Value Milestones Four key steps to establishing a commercially viable Unconventional project: Profitability Do selling price, Producability project costs and At what volume production Prevalence and rate can…
Unconventional: Joint Venture with QGC Most extensive 3D seismic survey carried out onshore Australia Two wells drilled to target depth Charal-1 and Anakin-1 Hydraulic stimulation planned to commence in September Central…
Unconventional: Learnings from Charal and Anakin Operational Weatherford 826 rig Delivers certainty and efficiencies High Pressure, High Temperature (HPHT) upgrade safe operations demonstrated; pathway to increased efficiency…
Wellhead OUTLOOK 25 DRILLSEARCH SEPTEMBER 2014 ROADSHOW
FY2014 Production: Actual and Guidance FY2014 Actual Production Record production of 3.4 mmboe Oil 2.9 mmboe Wet Gas 0.5 mmboe Exceeded guidance of 3.0 to 3.3 mmboe FY2015 Forecast Production Guidance 3.0 to 3.4 mmboe Western…
FY2015 Guidance: Capital Spend Activities FY2015 Capital Expenditure Guidance Record year of activity planned in FY2015 Capital expenditure of 130m to 170m Capital Spend Activities Approximately 75% directed to conventional…
Record Activity Planned in FY2015 FY2015 Permit Operator Total Sept Dec Mar Jun Sept Q Q Q Q Q OIL Western Flank - PELs 91 & 182 BPT/SXY 21 Seismic acquisition and processing 500km2 Solidus 3D acquisition and processing…
Track Record of Outperformance Drillsearch TSR Ranking Table TSR % for the Performance Period of 20 June 2011 to 20 June 2014 300 250 200 150 100 50 0 PRL DLS SXY BPT COE ROC AWE STO…
Key Takeaways Maintain robust production performance Guidance of 3.0 to 3.4 mmboe for FY2015 Record activity planned More than 40 wells in FY2015 Capex guidance of 130m - 170m Weighted towards Oil and Wet Gas Five-year target…
Appendices
Corporate Profile Financial Share Price Performance (Since 1 July 2013) ASX Ticker DLS 160% DLS.ASX 150% S&P/ASX Index ASX 200 XEJ.ASX 140% Market Cap (Am) 663 130% Shares on Issue (m) 456 120% 110% Share Price (22 August…
FY2014 Financial* and Operating Headlines Unit FY14 FY13 % Change Production mmboe 3.4 1.1 209% Revenue m 387.0 102.2 279% EBITDAX - Reported m 231.9 35.1 561% - Underlying m 254.9 50.6 404% NPAT - Reported m 71.5 45.1 59% -…
FY2014 Financial Ratios and Metrics FY FY 2014 2013 Average realised oil price A/bbl 125.5 116.0 Average realised wet gas basket A/boe 45.2 37.7 Average realised price A/boe 114.4 94.9 Oil Field Net Back A/bbl 79.0 71.6 Gas…
FY2014 Cash Flow, Cash Balance & Liquidity Strengthened balance sheet with strong cash position 36 DRILLSEARCH SEPTEMBER 2014 ROADSHOW
Oil: FY2014 Production Performance PEL 91 and Eastern Margin provide robust near-term production base 37 DRILLSEARCH SEPTEMBER 2014 ROADSHOW
Wet Gas: FY2014 Production Performance Sales Gas (boe) gross LPG (boe) gross Condensate (boe) gross 120,000 Production impacted by Canunda 100,000 Moomba plant shut-ins and production Canunda offline increased 80,000…
Reserves and Resources as at 30 June 2014 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 account…
People Committed to prudent growth Growth in Team 100 Technically-led organisation Building our operational and organisational capability Committed to diversity Cohesive management team Team composition as of July 2014…
People: Strong Management Team and Board Jim McKerlie Brad Lingo Philip Bainbridge Teik Seng (TS) Cheah Fiona Robertson Ross Wecker Chairman Managing Director Non-Executive Non-Executive Non-Executive Non-Executive Jim has…
Non-IFRS Financial Information Reconciliation of Net Profit to Underlying Profit Underlying net profit after tax and EBITDAX* are both non-IFRS financial measures reported by Drillsearch to provide greater understanding of the…
Table of Tenements Ownership interest Name of joint venture Operator 2014 2013 % % Oil ATP 299P & PL's - Tintaburra (Eromanga)1 Santos Limited 40% 11% ATP 539P (Eromanga) Great Artesian Oil & Gas Ltd2 100% 100% ATP 549P - Cypress…
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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