MEO Investor Presentation: Recommendation to REJECT Mosman Takeover March 2015 1 MEO Australia Limited
MEO Corporate snapshot New CEO appointed December 2014 1,400 Board of Directors MEO Net Resources* Greg Short (Non-Exec Chairman) 1,200 1,355 Peter Stickland (MD & CEO) Million Barrels of Oil Equivalent (MMboe) AC/P51…
Mosman Unsolicited Takeover Offer Directors Recommendation to MEO Shareholders: REJECT Why: Mosman has limited cash and its ability to continue as a going concern is uncertain As at the date of the Replacement Bidders Statement,…
MEO Strategic Objectives and Enablers Fresh leadership, focused on managing costs & delivering value We recommend rejecting the Mosman Strategic Objectives takeover offer in order to ensure that MEO 1. Create shareholder value through…
MEO Investment Highlights Diverse, high impact portfolio with active Business Development program High Impact Exploration Portfolio Over 1.3 billion barrels of oil equivalent prospective resources (unrisked)* WA-454-P (Breakwater)…
MEO Indicative Activity Schedule Actively managing program to optimize value 2015 2016 2017 Permit Activity Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 New Zealand (PEP 51153) Joint Farmout Process Potential Shannon-1 drilling Breakwater…
Northern Australia acreage 4 discrete upstream projects adjacent to proven hydrocarbons ABADI GREATER SUNRISE BAROSSA EVANS SHOAL Joint BLACKWOOD CALDITA Petroleum N T / P 6 8 HERON Development Area BAYU-UNDAN Tassie Shoal…
WA-454-P: Breakwater prospect MEO 50% partly carried. Aiming to farm down to cover well cost Farmed out 50% to Origin in 2013 for: Gulf of Mexico style Darwin 5.6m cash PLUS Salt dome Plays 80% of Breakwater-1 (A35m well cost cap)…
WA-488-P (MEO 100%, farming down to 70%) Contains giant Beehive dual objective oil prospect Darwin Suitable for lower cost jack-up drilling rig Farmout* to international explorer defines PETREL potential path to funding FRIGATE 30%…
AC/P50 & AC/P51 (MEO 100%) Multiple oil targets in proven petroleum system BAYU-UNDAN Suitable for lower cost jack-up drilling rig Ramble On and Jurmaker oil prospects Producing or depleted oil identified in proven petroleum system…
NT/P68: Blackwood & Heron gas accumulations MEO focusing on 100% retained interest in Heron field Heron gas discovery (MEO 100%) EVANS Heron-2 (2008) flowed gas at 6 SHOAL Evans Shoal North-1 MMscfd BLACKWOOD Evans Shoal-2…
Tassie Shoal Projects Shallow water, low cost development paths for regional stranded gas Methanol: 2 of 1.75MTA plants, built in two stages (TSMP1 & TMSP2) LNG: 3MTA LNG plant (TSLNG) Tassie Shoal Projects TSMP2 Federal & State…
Tassie Shoal Projects Commercial framework progressing to support commercialisation Methanol TSMP2 Offtake Letters of Intent signed with three multinational buyers Indicative purchase offers made at US3.15MMBTU to TSMP1 purchase raw…
New Zealand: Production & Exploration PEP51153 (MEO 30%) Puka oil accumulation Produced at 110-115 barrels/day under long Puka term test before shut-in January 2015 due to PEP 51153 Waihapa mechanical problem and low oil price…
Cuba: Block 9 PSC Oil rich area with low cost, initial 18 month commitment MEO has agreed terms for entry to an onshore exploration PSC in the Republic of Cuba Bacuranao Boca de Jaruco Canasi- Yumuri- P. EscondidoSeboruco Varadero…
Summary and Way Forward New leadership & diverse paths to growth High Impact Exploration Portfolio 1.3 billion barrels of oil equivalent (best estimate) Prospective Resources (un-risked)* 38 MMboe 2C contingent resources Potentially…
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