Annual General Meeting 30 May 2014 Talon Petroleum Limited May 2014
Welcome to Talon Petroleum Limiteds Second Annual General Meeting 30 May 2014 2 May 2014
Chairmans Address Annual General Meeting 30 May 2014 3 May 2014
CEO, President and Managing Directors Presentation Annual General Meeting 30 May 2014 4 May 2014
INVESTMENT HIGHLIGHTS Mature oil fields targeted across Texas in US oil heartland 13,500 acres in proven oil and gas producing trends 1,370 bo/qtr of current production 2.17 mmboe of 3P reserves in place * Current cash balance…
COMPANY OVERVIEW Focus: Proven, Producing Trends Onshore Gulf Coast Texas ASX Code TPD Management: US industry E&P experience spanning 40 Years Production: 1370 bo/qtr Shares on Issue (1) 102.6 million Leased Acres: Approximately…
TALONS STRATEGY Focus on low risk, modest cost oil and gas/liquids projects with multi well repeatability Currently the Company has 6 projects. Technology driven focus to identifying prospects Modern extraction methods have led to…
OPERATIONAL SNAPSHOT Diversified across the heartland of US oil and gas production Existing Producing Projects Roundhouse Cotton Valley Lime Bonner 1H (9600 TVD) horizontal well tight oil carbonate. Mosman Rockingham (MR) Olmos…
ROUNDHOUSE COTTON VALLEY LIME - OIL Future Work Program will be assessed when production performance is known 24 97% WI Large lease block (approximately 10,000 gross acres) Over 6,850 Talon net acres Offsets 5.7 mmboe Cheneyboro…
ROUNDHOUSE RODESSA/WOODBINE - OIL Scalable multiwell potential waiting on test results from Brice Bonner 1 vertical well (1% WI) New test well, Brice Bonner 1, 1% nonoperated adjacent to Talon 97% operated WI acreage Large lease…
ROUNDHOUSE RODESSA/WOODBINE - OIL BRICE BONNER 1 COMPLETING AS OIL WELL (1%) Regional view of Talon Roundhouse acreage offsetting Brice Bonner 1 Rodessa Oil discovery 11 May 2014
ROUNDHOUSE RODESSA/WOODBINE OIL POTENTIAL OFFSET LOCATION TO BRICE BONNER 1 OIL COMPLETION ON 97% WI ACREAGE Talon offset to Brice Bonner could generate 8 PUDs 12 May 2014
MOSMAN ROCKINGHAM (MR) OLMOS - OIL Production & reserves with low risk development potential 1 well planned Q3 2014 Talon operated project, approximately 3,800 net acres (10100% WI) Olmos Tight Sandstone Reservoir Currently one MR…
MR OLMOS OFFSET ANALOGUES Nearby Olmos production supports potential MR Olmos value proposition. Talons MR Olmos acreage has thicker (25ft v 15ft) productive zone than nearby analogues. 14 May 2014
MR OLMOS WELLS POTENTIAL OUTCOME Lower risk development option with producing wells as offset analogues 1st well Spud first horizontal well, Quintanilla 1H, in Q3 2014 with Terrace Energy 33.33% who has recent success in…
SUNSHINE GAS/LIQUIDS Production & reserves with low risk development potential 2 appraisal wells planned Q3 and Q4 2014 Sunshine was previously farmed out with a 10% BIAPO of 1st well + 10% WI on other wells to Talon New Discovery…
ANGOURIE GAS/LIQUIDS Production & reserves with low risk development potential Discovery waiting on production facilities and pipeline Talon 10% WI Scherer 2 well spudded Q2 2014 (10% WI) Leased acreage 237 gross acres Yegua…
DUNSBOROUGH GAS/LIQUIDS MultiWell Potential Large upside (Stacked Pays) 1 well planned Q4 2014 (subject to obtaining additional partners) Talon 15% WI Well to spud Q4 2014 Leased acreage 300 gross acres Talon 45 net acres Cook…
RODESSA - OIL Scalable multiwell potential with leasing planned seeking partners for Q4 drilling Talon operated (8297% WI) Prospects include Catfish Creek, East Banks & Redfish Foothold leases in hand of approximately 2,680 net…
PLAN FORWARD OPERATIONAL OUTLOOK Increase cash flow self generated capital (asset monetization) exposure to growth projects Leverage high WI position to reduce initial project cost exposure 2014/2015 Focus Develop Angourie discovery…
2014/2015 POTENTIAL WORK PROGRAM Angourie Spud April 2014, 10% WI from recent acquisition Roundhouse Rodessa (Brice Bonner) Spud April 2014, 1% WI; 97% WI offset well 40 acres MR Olmos Spud 1st well Q3 2014 (10% WI), 2nd in Q1…
POTENTIAL PROJECT VALUE Current Project Potential Value:* Future prospects will be generated through the large Wandoo seismic database. Program Success will provide: Attractive Valuation (1) Cash A2.1M Mkt Cap A2.1M 9 Rapid…
Resolutions Annual General Meeting 30 May 2014 23 May 2014
AGENDA 1. Financial statements and reports (no resolution required) 2. Remuneration Report (ordinary resolution) 3. Reelection of Mr David Mason as a Director (ordinary resolution) 4. Reelection of Mr Bruce Cowley as a Director…
1. FINANCIAL STATEMENTS AND REPORTS No resolution is required for this item of business 25 May 2014
2. RESOLUTION 1 - REMUNERATION REPORT The motion under consideration is: THAT the Remuneration Report contained in the Companys Annual Report for the financial year ended 31 December 2013 be adopted. Proxy Votes: For Against…
3. RESOLUTION 2 - RE-ELECTION OF MR DAVID MASON AS A DIRECTOR The motion under consideration is: THAT Mr David Mason, a Director retiring by rotation in accordance with the Companys constitution, and being eligible for reelection, is…
4. RESOLUTION 3 RE-ELECTION OF MR BRUCE COWLEY AS A DIRECTOR The motion under consideration is: THAT Mr Bruce Cowley, having been appointed a Director in accordance with clause 56.1 of the Companys constitution, offers himself for…
5. RESOLUTION 4 NON-EXECUTIVE DIRECTORS REMUNERATION The motion under consideration is: THAT for the purpose of ASX Listing Rule 10.17 and clause 60 of the Companys constitution, from the admission to the Company to the official…
6. RESOLUTION 5 RATIFICATION OF PRIOR ISSUE OF SECURITIES The motion under consideration is: THAT in accordance with Listing Rule 7.4, and for all other purposes, the shareholders ratify the issue of 850,000 unlisted incentive options…
7. RESOLUTION 6 INCREASE IN SHARE ISSUE CAPACITY The motion under consideration is a special resolution: THAT pursuant to and in accordance with ASX Listing Rule 7.1A, and for all other purposes, the shareholders approve the issue…
CONCLUSION OF MEETING Thank you for attending. Please join us for refreshments. 32 May 2014
APPENDICES 33 May 2014
RISK FACTORS The activities of Talon are subject to risks which may impact on Talons future performance. The following summary of risk factors represent some of the general and specific risks in relation to an investment in Talons…
GLOSSARY 1P proved (developed plus undeveloped) reserves in accordance with SPEPRMS 2P proved plus probable reserves in accordance with the SPEPRMS 3P proved, probable and possible reserves in accordance with SPEPRMS A Australian…
COMPANY INFORMATION Talon Petroleum Limited Directors: ABN: 88 153 229 086 Jeff Forbes (Chairman) Cliff Foss (Managing Director) Angus Douglas Level 16, 344 Queen Street Bruce Cowley Brisbane QLD Australia 4000 David Mason Postal:…
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