Triangle Energy (global) Limited · ASX:TEG
Triangle Energy (global) — Investor Presentation (November 2018)
19 slides from Triangle Energy (global)'s investor presentation, Nov 6, 2018
Slide 1: Increasing Reserves and Creating Value in the Perth Basin
6 November 2018 Increasing Reserves and Creating Value in the Perth Basin
Slide 2: Triangle Energy (Global) Ltd (ASX:TEG)
TRIANGLE ENERGY (GLOBAL) LTD (ASX:TEG) Triangle is an oil producer with a growing exploration portfolio in the highly prospective, under explored Perth Basin ▪ Australian based focus for future growth in oil and gas sector ▪ Majority interest (78.75%) in Cliff Head Oil Field with strong, predictable
Slide 3: Operations Update
PERTH BASIN OPERATIONS Operations Update ▪ Business performance in Q3 affected by unplanned production downtime resulting in an average Q3 production rate of 397 bopd ▪ CH12 work over successful. CH07 workover ongoing ▪ Strong business performance expected for Q4 – average production forecast at 778
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT Capital Structure and Key Metrics Board ASX Code TEG Edward Farrell Non Executive Chairman Shares on issue1 218,115,544 Robert Towner Managing Director Unlisted options on issue 6.000M exc @ $0.06, exp 29 Mar 2019 11.155M exc @ $0.15, exp 19 Jan 2020 Darren Bromley Executive Direc
Slide 5: Cliff Head Oil Field
CLIFF HEAD OIL FIELD Building a strong presence in the Perth Basin ▪ Triangle 78.75% interest and Operator; Royal Energy Pty Ltd 21.25% ▪ Production with cash flow ( CY 19 av. forecast ~778 bopd) ▪ Operator of the only onshore & offshore Infrastructure (cost $327 million) - essential for any other e
Slide 6: Cliff Head - Near Field Exploration
CLIFF HEAD - NEAR FIELD EXPLORATION ❑ Identified a number of near field exploration prospect within the CH licence area: NFE West, South, SE and CH5 ❑ Potential to fast track the development (tie-back to ASP facilities) upon successful discovery Oil in Prospec Area Place t (MMbls) A1(a) A1(a) NFE We
Slide 7: Prospective OIIP Volumes in Near Field Prospects
PROSPECTIVE OIIP VOLUMES IN NEAR FIELD PROSPECTS Cautionary Statement The disclosure of prospective oil initially-in-place in this announcement is solely based on the Company's prospective resource estimate detailed below. It is not based on any estimate of petroleum reserves or contingent resources
Slide 8: Cliff Head Oil Field Financial Metrics
CLIFF HEAD OIL FIELD FINANCIAL METRICS CY19 ASSUMPTIONS Focus on expenditure reduction ✓ 95% uptime ✓ 5 days shutdown per year and production reliability ✓ Routine Operating Cost (incl PRRT) = $18.5 MM / yr. ▪ Oil price US$69/bbl. AUD/USD exchange rate 0.73 ▪ Cliff Head 2019 production forecast to a
Slide 9: Cliff Head Long Term Production Forecast - No Further Infield Activity
CLIFF HEAD LONG TERM PRODUCTION FORECAST NO FURTHER INFIELD ACTIVITY (100% BASIS) No Further Infield Activity (100% Basis) ▪ TEG Operator from July 2017 2,500 ASSUMPTIONS ▪ Q3 production av. 397 bopd 2,000 ✓ 95% uptime ✓ 5 days shutdown per year o CH12 Downhole Failure Barrels of Oil Per day o CH6 f
Slide 10: Cliff Head In Field Development Program
CLIFF HEAD IN FIELD DEVELOPMENT PROGRAM (ONGOING REVIEW) Additional reserves could be recovered from the Cliff Head Reservoir Management 2018 2019 2020 Reservoir dynamic modelling to be completed in Q4 Q1 Q2 Q3 Q4 Q1 Q2 January 2019 Activity Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Ja
Slide 11: Cliff Head Long Term Production Forecast - Infield Programs Completed
CLIFF HEAD LONG TERM PRODUCTION FORECAST ASSUMES INFIELD PROGRAMS COMPLETED (100% BASIS) 2,500 2,000 Barrels of Oil Per day 1,500 Infield development plan targeting additional 1,000 reserves from the Cliff Head reservoir 525 500 0 Actual BOPD NFA Forecast Development Forecast 11
Slide 12: TP-15 Xanadu Discovery
TP-15 XANADU DISCOVERY The story so far……a strong upside position ▪ Triangle will be a 45% joint venture partner in TP/15 ▪ Xanadu-1 was drilled as a deviated well, from an onshore surface location to an offshore target. The well was spudded on 4 September 2017 and reached a total depth of 2035m, wh
Slide 13: TP-15 Equity Acquisition from Whitebark Energy
TP-15 EQUITY ACQUISITION FROM WHITEBARK ENERGY Terms(AU$) ▪ Upfront consideration of $3mill, made up of $2mill in cash and $1mill in Triangle shares satisfied by the issue of 11,191,052 shares. ▪ $1mill Appraisal Outcome Consideration: Following an independent competent person’s report demonstrating
Slide 14: Production Licence L7: Mount Horner
PRODUCTION LICENCE L7: MOUNT HORNER 50% Farmout Executed ▪ The Joint Venture will commence an Early Work Programme which will include the workover of two of the existing wells at the Mount Horner Oil Field, whereby Triangle and Key are each to contribute 50% of all associated costs ▪ In parallel wit
Slide 15: Mt Horner Infield and Wider Exploration Opportunity
PRODUCTION LICENCE L7 MOUNT HORNER INFIELD AND WIDER EXPLORATION OPPORTUNITY Permian and Triassic level deeper oil prospectivity represents an underexplored oil play in the northern margin of the Perth Basin Both “attic oil” and residual oil to be access by well workovers and infill/step wells F san
Slide 16: State Gas Limited
STATE GAS LIMITED (ASX:GAS) 35.47% equity interest worth $14.3 million (ASX:GAS @ $0.30 per share) ▪ Triangle holds largest stake in State Gas Ltd - Production Licence (PL 231) ▪ Queensland conventional gas appraisal asset with multiple hydrocarbon bearing horizons in the Bowen Basin, Qld ▪ The Reid
Slide 17: Investment Proposition
INVESTMENT PROPOSITION Significantly Undervalued Compared to Peers The only offshore and onshore infrastructure operating in the ✓ Majority 78.75% interest and Operator of Cliff Head Perth Basin ✓ Strong production rates and cash flow generation ✓ Offshore and onshore infrastructure with capacity to
Slide 18: Triangle Energy (Global) Limited
Triangle Energy (Global) Limited (ASX:TEG) Ground Floor, 100 Havelock St West Perth Western Australia 6005 E: [email protected] T: +61 8 9219 7111 W: www.triangleenergy.com.au
Slide 19: Disclaimer and Forward Looking Statements
DISCLAIMER AND FORWARD LOOKING STATEMENTS ▪ This Presentation is provided on the basis that Triangle Energy (Global) Limited (“Triangle” or the “Company”) nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any repre
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