Conrad Asia Energy Ltd. · ASX:CRD
Conrad Asia Energy — IPO Roadshow (September 2022)
39 slides from Conrad Asia Energy's IPO roadshow presentation, Sep 9, 2022
Slide 1: Pure Play Exposure to Asia's Energy Growth — The Fastest in the World
Pure Play Exposure to Asia’s Energy Growth — The Fastest in the World Deal roadshow presentation September 2022
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This document has been prepared as at 9 September 2022 and is based on information provided by Conrad Asia Energy Ltd (the Company) and includes information on the business and operations of the Company and its related bodies corporate. For the purposes of this Import
Slide 3: Important Notice and Disclaimer (continued)
Important Notice and Disclaimer (continued) THIS PRESENTATION IS NOT A PROSPECTUS. PRODUCT DISCLOSURE STATEMENT OR DISCLOSURE DOCUMENT. This document is not, and does not constitute, a prospectus, product disclosure statement, disclosure document or other offer document under Australian law or any o
Slide 4: Important Notice and Disclaimer (continued)
Important Notice and Disclaimer (continued) To the extent that any of the above paragraphs may be construed as being in contravention of any applicable law, such paragraph shall be read down, severed and the remaining paragraphs shall continue to have full force and effect. The Limited Parties (othe
Slide 5: Investment Highlights
Investment Highlights • The Mako Gas Field is currently one of the largest undeveloped and fully appraised gas field in the West Natuna Basin, Indonesia Portfolio • Approximately 413 billion cubic feet (full-field, gross) discovered recoverable gas in Mako Gas Field (215 billion cubic feet of assets
Slide 6: Company Overview
CONRAD ASIA ENERGY LTD COMPANY OVERVIEW
Slide 7: Conrad Asia Energy
Conrad Asia Energy An offshore Asian focused gas development company Asset Locations Commentary MALAYSIA ✓ Approximately 413 Bcf (full field, gross) of discovered recoverable gas (215 DUYUNG Bcf attributable to Conrad pursuant to its Participating Interest in Duyung) 47% 1 and additional exploration
Slide 8: Delivery of Key Milestones
Delivery of Key Milestones Conrad has demonstrated a strong track record of consistent delivery • Received revised Mako resource audit from • Signed HOA with Singapore gas buyer for the sale of all GaffneyCline • Raised seed capital to develop the Duyung potential gas produced from Mako • Updated Ma
Slide 9: Asset Portfolio
CONRAD ASIA ENERGY LTD ASSET PORTFOLIO
Slide 10: Portfolio of Projects
Portfolio of Projects Duyung PSC (which contains Mako) is the cornerstone asset of Conrad’s portfolio with additional exploration assets providing upside 76.5% Participating Interest • Contains the Mako Gas Field, with 2C Contingent Resources of 215 Bcf net attributable to Conrad1 MALAYSIA • One of
Slide 11: Duyung PSC and Mako Gas Field Overview
Duyung PSC and Mako Gas Field Overview One of the largest undeveloped gas discoveries in the West Natuna Sea with key under-utilised infrastructure in place • Mako Gas Field has been assessed to contain gas comprising 98% methane gas with insignificant impurities and a high permeability reservoir wi
Slide 12: Strategically Positioned
Strategically Positioned Mako is strategically positioned to supply established gas markets Mako is expected to be a meaningful source of gas … into critical and growing Asian demand centres supply… NatunasNatuna Sea- Annualised (incl. Mako) Supply Capability (bbtu/d) Natural Gas Supply West Natuna
Slide 13: Mako Economics — Conrad Net Attributable Share
Mako Economics — Conrad Net Attributable Share Economically robust, underpinned by an economic production life of ~12 years • Assessment based on an independent Competent Person’s Report Operational and financial highlights (net attributable share)1,2 (CPR) on the Mako development, Gaffney, Cline &
Slide 14: Supportive Gas Price Environment
Supportive Gas Price Environment Conrad’s value proposition is supported by strengthening Asian gas prices ✓ Conrad’s initial target gas markets are in Singapore Daily Natural Gas and LNG Prices (Mar-20 to Aug-22) and Indonesia 100 ✓ Conrad expects Singapore to be the major market for 90 JKM (North
Slide 15: Aceh Joint Study Areas
Aceh Joint Study Areas The Aceh Joint Study Areas contain numerous offshore gas discoveries as well as large exploration opportunities • Conrad has completed work on two Joint Study Areas (JSAs) located offshore Location Map of offshore Aceh JSAs northwest Sumatra within the Aceh Province of Indones
Slide 16: Offshore Mangkalihat and Labu Prospect
Offshore Mangkalihat and Labu Prospect Gas prospects and multiple leads with significant resource potential Offshore Mangkalihat • Offshore Mangkalihat PSC1 (100% Participating Interest held by Conrad) is located in the prolific Tarakan Basin, in shallow waters off eastern Kalimantan • Labu prospect
Slide 17: Asian Gas Market
CONRAD ASIA ENERGY LTD ASIAN GAS MARKET
Slide 18: Unique Gas Opportunity
Unique Gas Opportunity Indonesia represents a compelling energy investment opportunity ✓ Asian energy demand growth has been well flagged ✓ Indonesia is the 4th most populous country with strong energy demand ✓ Indonesia has transitioned from energy exporter to importer in the last decade ✓ Gas is b
Slide 19: Asian Demand for Gas / LNG
Asian Demand for Gas / LNG Over next 10 years and beyond, Asia is expected to deliver the strongest growth in demand for gas and LNG Demand for gas supply will grow across the Asia Pacific region, from core gas demand growth markets of China, South and South-east Asia, but also through uncontracted
Slide 20: Leadership & Outlook
CONRAD ASIA ENERGY LTD LEADERSHIP & OUTLOOK
Slide 21: Board and Management
Board and Management Highly experienced Board with strong technical, operational and financial backgrounds Peter Botten Miltos Xynogalas David Johnson Non-Executive Chairman Founder, Managing Director & CEO Executive Director & COO Current positions include: Chairman of AGL Energy Ltd, Geoscientist
Slide 22: Near-Term Priorities
Near-Term Priorities Bringing Mako to FID is Conrad’s highest near-term priority 1 Completion of the revised Mako Plan of Development1 Q4 CY2022 2 Conclude Mako Gas Sales Agreement(s)2 Q4 CY2022 Two Joint Study Areas gazetted as Production Sharing Contracts for which Conrad hold the right to match i
Slide 23: Key Takeaways
Key Takeaways Exposure to a portfolio of South-east Asian gas development, appraisal and exploration assets Conrad believe that the quickest and best way to reduce global emissions is to accelerate the energy transition. Conrad also believe that gas will play an important role in progressing this cl
Slide 24: The Offer
CONRAD ASIA ENERGY LTD THE OFFER
Slide 25: Key Offer Statistics
Key Offer Statistics Before accepting Assuming all oversubscriptions Key Offer Statistics oversubscriptions are accepted (A$45m raise) (A$55m raise) Securities offered under the Offer type CDIs Ratio of CDIs per Share x/x 1 Share for 1 CDI Current Shares on issue #m 128.6 Offer Price per CDI A$/sh 1
Slide 26: Sources and Uses of Funds
Sources and Uses of Funds Assuming all Before accepting Sources of Funds % oversubscriptions are % oversubscriptions accepted Gross Proceeds from the issue of New CDIs by Conrad1 A$m 45.0 100% 55.0 100% Total Sources of Funds A$m 45.0 100% 55.0 100% Assuming all Before accepting Uses of Funds % over
Slide 27: Key Offer Dates
Key Offer Dates Important Dates1 Lodgement of the Prospectus with ASIC and ASX Friday, 9 September 2022 Broker Firm Offer, Priority Offer, the Institutional Offer and General Offer opens Monday, 19 September 2022 General Offer closes Friday, 7 October 2022 Broker Firm Offer, Priority Offer and Insti
Slide 28: Capital Structure and Escrow Arrangements (assuming $45m raise)
Capital Structure and Escrow Arrangements (assuming $45m raise) Details of the ownership of Securities immediately prior to Completion of the Offer and immediately following Completion of the Offer are set out below: After Prospectus Date but prior to Prospectus Date Immediately prior to Completion
Slide 29: Appendix
CONRAD ASIA ENERGY LTD APPENDIX
Slide 30: Corporate Structure
Corporate Structure Conrad was incorporated as a Singapore company limited by shares in December 2010 Conrad is a company incorporated under the laws of Singapore, with operational headquarters in Jakarta, Indonesia. Conrad's corporate structure is shown below: Conrad Asia Energy Ltd (Singapore) UEN
Slide 31: Key Risks
CONRAD ASIA ENERGY LTD KEY RISKS
Slide 32: Key Risks
Key Risks Oil and gas exploration and production are high risk enterprises and only occasionally provide high rewards. Potential investors should consider an investment in Conrad as highly speculative. There are a number of risks associated with an investment in Conrad that may affect its financial
Slide 33: Key Risks (continued)
Key Risks (continued) The Company will need to obtain certain approvals, consents or agreements from third parties to conduct its activities or implement the POD Revision. This may include, without limitation, obtaining approval from MEMR of the POD Revision, agreement with the operator of WNTS for
Slide 34: Key Risks (continued)
Key Risks (continued) Understanding of subsurface conditions is based on the interpretation of the best data available but due to the inherent uncertainty of such data and its interpretation, there is a risk that the Company may reach incorrect conclusions in respect of resource and reserve estimate
Slide 35: Key Risks (continued)
Key Risks (continued) As noted in Section 2.5(a)(vi), the Company is currently working with SKK Migas on finalising the POD Revision for submission to MEMR to reflect increased resource estimates and production rates (which have been independently assessed by GaffneyCline) and that the originally en
Slide 36: Foreign Selling Restrictions
FOREIGN SELLING RESTRICTIONS
Slide 37: Foreign Selling Restrictions
Foreign Selling Restrictions This Prospectus does not constitute an offer or invitation to apply for CDIs in any jurisdiction in which, or to any person to whom, it would not be lawful to make such an offer or invitation or issue under this Prospectus. In particular, this Prospectus may not be distr
Slide 38: Foreign Selling Restrictions (continued)
Foreign Selling Restrictions (continued) Hong Kong WARNING: This Prospectus has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong, nor has it been authorised by the Securities and Futures Commission in
Slide 39: Foreign Selling Restrictions (continued)
Foreign Selling Restrictions (continued) Switzerland The CDIs may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange or on any other stock exchange or regulated trading facility in Switzerland. Neither this Prospectus nor any other offering or marketing material