Maverick Minerals Australia Ltd · ASX:M96
Maverick Minerals Australia — Exoma Energy — Corporate Update (April 2008)
19 slides from Maverick Minerals Australia's corporate update, April 2008
Slide 1: April Corporate Update
April Corporate Update “Exoma Energy is an emerging onshore oil and gas producer, focused on i increasing i production d i and d revenues ffrom the h targetedd development d l off iits existing acreage and additional land positions.” ASX Code: EXE
Slide 2: Disclaimer
Disclaimer This presentation is not a Prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection
Slide 3: Exoma Energy emerging onshore oil and gas producer
“E “Exoma E Energy is i an emerging i onshore h oilil and d gas producer, d focused on increasing production and revenues from the targeted development of its existing acreage and additional land positions. positions ” ASX Code: EXE April 2008 3
Slide 4: Snapshot
Snapshot • Exoma is cashflow positive (pre exploration expenditure) • ABPIP likely to increase revenues from operated wells by 20%‐25% • Drilling success from Kelln 94‐2 • Exoma has a production‐focused growth strategy • Enhances production from existing assets; achieving financial and operational e
Slide 5: Corporate Snapshot and Capital Structure
Capital Structure Corporate Snapshot Shares on Issue 73,976,250 Non Executive Directors ‐ Mr John Hopkins (Chairman) Options on Issue 200,000 ‐ Mr Steven Noske (Technical Director) Price Range (Since IPO) 17¢ ‐ 10¢ Executive Directors and Management ‐ Mr David Rowbottam (MD) Shareholders ~ 700 ‐ Mr
Slide 6: Non Renounceable Entitlement Options Issue
Non Renounceable Entitlement Options Issue Record Date 11 April 2008 Prospectus Despatch Date 15 April 2008 Closing Date 12 May 2008 Entitlement 1 option for each share held at COB on Record Date Issue Price $0 01 cents $0.01 Exercise Price $0.20 cents Expiry Date 31 March 2011 ASX Listed ASX Code:
Slide 7: Why the United States?
Why the United States? Biggest energy market in the world: only weeks after discovery before connection to an Anadarko distribution system; y rigs g and personnel available. Exoma has an extensive, ongoing network of business relationships p in the region g which brings a steady flow of investment o
Slide 8: Clear strategic objectives
Clear strategic objectives Stage one: Net revenues of US$2.3 million pa – May 2008 Acquire production and establish cash flow from the Anadarko Basin Conduct Strategic g Review of assets Net revenues of US$1.6 million pa in March 2008 ABPIP and Kelln 94‐2 Drill High Promise‐1 & Glory Rd‐1 Stage two:
Slide 9: Proposed 2008 Drilling Program
Proposed 2008 Drilling Program Well March April May June July August September October November December Development Wells Kelln 94‐2, Anadarko Vertical Basin (18.75% WI) Step out well Section 9, Horizontal Anadarko Basin (25% well WI) Section 16, Anadarko Horizontal well Basin (25% WI) Section 2, H
Slide 10: Completed Milestones
Completed Milestones Pre‐IPO Post‐IPO Sign Anadarko Basin PSA Complete l payment for f Conduct d review off Implement review acquisition and farmin Anadarko basin outcomes as ABPIP agreements production assets Secure AU$1.2 million in Seed Capital for Anadarko Basin deposits and working capital Remo
Slide 11: Focus for the remainder of 2008
Focus for the remainder of 2008 • Development Drilling • Step out well (Kelln 94‐2, currently in completion phase) • Horizontal well drilling programme (3 wells in 2008, 100% carry on 1st well) • Oil focus • Exploration Drilling • Minimum of 3 well programme (additional 2 wells contingent). g • Corp
Slide 12: Production Enhancement: ABPIP
Production Enhancement: ABPIP (Anadarko Basin Production Improvement Programme) This programme is designed at increasing production levels from its operated Anadarko Basin wells through incremental efficiency drives and production enhancements. Exoma estimates this will increase the Company Company’
Slide 13: Development Programme
Development Programme Production focused: maximise early revenues Vertical wells: these longg production p life wells aim to convert leasehold acreage g to “held byy p production” and test Formations in each section for horizontal development potential. Less financial risk: there is a greater chance
Slide 14: Horizontal Drilling Development Programme
Horizontal Drilling Development Programme Horizontal wells: achieve a higher initial production rate which gives substantial early revenue and drains the reservoirs more effectively. Well Spacing: Increased I d wellll density; Oklahoma will allow multiple horizontal wells in each section; partners a
Slide 15: Exploration: High Promise
Exploration: High Promise Timing: March Hydrocarbon targets: Targeting 20 foot payzone with minimum 960 MBO potential; additional potential 40 foot of payzone at separate target levels with additional identified potential of 1,920 MBO. Combined potential of over 2.8 million barrels of oil (MMBO. The
Slide 16: Exploration: Glory Road (Cook Mountain and Viking-1)
Exploration: Glory Road (Cook Mountain and Viking‐1 ) • Two well programme • Both wells targeting multiple pay zones • Both prospects are 3D seismically defined • WI 33% (NRI 18%) • Cook Mountain • Spudding April 2008 • Target estimates of 12.7 BCF and 634 MBOE • Maximum depth of 13,000 feet • Indep
Slide 17: Exploration: Goliath, South Texas
Exploration: Goliath, South Texas Timing: 4th quarter 2008 Hydrocarbon targets: The Goliath Prospect is a very large Lower Wilcox Age sand gas target with an independently estimated unrisked resource ranging g g from an estimated P90 figure g of 34.7 BCF to a P10 of 130 BCF. It is a high g side clos
Slide 18: Minimising shareholder risks
Minimising shareholder risks Exoma has identified three main areas of risk to the Company, and has mitigated these risks by employing the strategies outlined below: Geological Risk Technical Risk ("Don't go looking for oil where Financial Risk it hasn't been found before") •All partners advocate the
Slide 19: Summary
Summary • Exoma is cashflow positive (pre exploration expenditure) • Exoma has a production‐focused growth strategy • Exoma has an experienced management team, contractors and alliance partners • On target to achieve stage one revenue objective of US$2.3 million pa in May 2008 • On target g to achie