Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Good Oil Conference 2005
26 slides from Amplitude Energy's conference presentation, September 2005
Slide 1: Good Oil Conference 2005: Join the second phase of growth
GOOD OIL CONFERENCE 2005 Join the second phase of growth… Michael Scott, Chief Executive Officer, Cooper Energy Limited, 2005
Slide 2: Presentation Outline
Presentation Outline COMPANY OVERVIEW • Structure, financials, challenges, strengths, areas of interest OPERATIONAL OVERVIEW • Details on opportunities in areas of interest SUMMARY 2
Slide 3: Company Overview
COMPANY OVERVIEW 3
Slide 4: Corporate Overview and Summary
Corporate Overview and Summary • Listed in March 2002 on the Australian Stock eXchange (COE) • 137 million shares on issue • 9.45 million options • Market cap of A$40-50 million ± • A$22 million cash reserves at 30.06.05 with no debt • Three producing fields and one field under development • P50 dis
Slide 5: Full Year Result
Full Year Result • Production 368,086 barrels of oil +209% • Oil Sales A$25 million +334% • Cash reserves A$22 million +116% • Full year profit before tax A$13 million +A$18M • Full year profit after tax A$11 million +A$16M • Accumulated profit A$5 million +A$11M Note: Profit is un-audited estimate
Slide 6: Historical Company Performance
Historical Company Performance Cooper Energy Annual Production Cooper Energy Oil Sales 400000 30 350000 25 Production (Barrels) 300000 Sales (A$ Million) 20 250000 200000 15 150000 10 100000 5 50000 0 0 2002-2003 2003-2004 2004-2005 2002-2003 2003-2004 2004-2005 Financial Year Financial Year Cooper
Slide 7: The Internal and External Challenges
The Internal and External Challenges • Oil supply and demand picture → oil price ª To hedge or not to hedge ª Increased competition and aggressive national oil companies ª Acreage is king – but oil price doesn’t create leads and prospects ª Trucks, drilling rigs and seismic crews/vessels → people ª
Slide 8: Our Key Strengths and Capabilities
Our Key Strengths and Capabilities • Clear and established vision, mission, focus and objectives • People with high technical, commercial and relationship skills • People who have experience in our areas of interest • Reserves, production, cash, debt free • Company size – low cost, quick and effecti
Slide 9: High Level Growth Overview
High Level Growth Overview • Growth Overview Cooper - Build quality acreage portfolio (open Basin South acreage, farm-ins and acquisitions) East Cambodia - Mature existing exploration portfolio Asia Block B (drill prospects and create farm-outs) - Optimise value of discovered assets Indonesia - Be r
Slide 10: Operational Overview
OPERATIONAL OVERVIEW 10
Slide 11: Areas of Interest and Portfolio
Areas of Interest and Portfolio South East Asia North Africa 11 Company Overview Operational Overview Summary
Slide 12: Cooper Basin - Exploration
Cooper Basin - Exploration Permits Well Permit Timing Reserves (1) Share Boomer-1(1) PEL92 2Q06 1.2 MMbbl 25% Lead 4(2) PEL92 2Q06 1.0 MMbbl 25% 8 7 Lead 13(3) PEL92 2Q06 1.2 MMbbl 25% Tawriffic(4) PEL93 2006 1.6 MMbbl 30% 5 6 Fairbridge-1(5) PEL100 TBA 3.3 MMbbl 28.33% Uribes-1(5) PEL100 TBA 2.4 MM
Slide 13: Cooper Basin Exploration – Fairbridge-1 (28.33%)
Cooper Basin Exploration – Fairbridge-1 (28.33%) • Multiple target horizons • Adjacent and on spill path from Keleary and Telopea oil fields • Targeting 1Q06 for drilling, dependent upon drilling schedules Undiscovered Reserves (100% JV) Structure P90 P50 P10 Mean (MMbbl) (MMbbl) (MMbbl) (MMbbl) Fai
Slide 14: Cooper Basin - Development
Cooper Basin - Development Worrior EPT • Worrior (30%): upgrading facilities and reviewing infill well. • Christies (25%): upgrading facilities and reviewing infill wells. • Sellicks (25%): Reviewing Sellicks-2. • Arwon (11.2%): commence production 4Q05 – most likely via Worrior. Christies Facilitie
Slide 15: Cooper Basin – Reserves and Production (COE Share)
Cooper Basin – Reserves and Production (COE Share) Arwon Sellicks Oil Field (PPL204, 25%) 1% Discovery July 2002 Sellicks 4% Single production well 25 barrels of oil per day Christies 24% Christies Oil Field (PPL205, 25%) Discovery June 2003 Three production wells 300 barrels of oil per day Worrior
Slide 16: Morocco Med Est Exploration (20%)
Morocco Med Est Exploration (20%) • Awaiting ratification from Moroccan Government • Low cost entry for 20% (US$175k) • Plan to acquire 546 km of 2D seismic • Option to increase to 30% or exit • Reasonable target sizes already attracting farm-in interests 500000M E 550000M E 36 10 00 N 4000000M N AP
Slide 17: Tunisia Bargou Exploration (100%)
Tunisia Bargou Exploration (100%) 17 Company Overview Operational Overview Summary
Slide 18: Tunisia Bargou Work Program
Tunisia Bargou Work Program Year Activity Total Cost COE Cost Seismic Permit (2+1 years) Work Program G&G $0.260 MM 5,000 km repro $0.375 MM $0.935MM 200 km 2D acquisition $0.300 MM Total first period $0.935MM $0.935MM Exploration Permit (discretionary – 2 years) Work Program G&G $0.4 MM $8.4 MM 200
Slide 19: Cambodia Block B Exploration (10%)
Cambodia Block B Exploration (10%) 19 Company Overview Operational Overview Summary
Slide 20: Cambodia Block B Work Program
Cambodia Block B Work Program Year Activity Total Cost COE Cost First Period (3 years) Part 1 Review data and acquire $1MM contract 200km2 of 3D seismic $1.5MM likely $0.15MM Part 2 Drill exploratory well to $1.9MM contract 2,500 metres or $4MM likely $0.4MM basement Total first period $5.5MM $0.55M
Slide 21: Indonesia South Madura Exploration (45%)
Indonesia South Madura Exploration (45%) 21 Company Overview Operational Overview Summary
Slide 22: Indonesia South Madura Prospects and Costs
Indonesia South Madura Prospects and Costs Campalong-1 shallow well Cooper Energy Cost Share: discovered a 4m gas sand Acquisition Cost US$1.5M in the Ngrayong sandstone (Vendor consideration, (accumulation ±1,400 metres) back costs, PSC contractual obligations) Kujung carbonate prospects: Work Prog
Slide 23: Summary
SUMMARY 23
Slide 24: Our Value Proposition
Our Value Proposition Cash reserves A$22 million NPV (1 million barrels) A$30 million Convert 9.95 million options A$2 million Floor value A$54 million Cooper Basin risked exploration A$2 million Tunisia risked exploration A$5 million Conservative value estimates based on: Notional prospect size(s)
Slide 25: Summary
Summary • Outstanding success since listing in 2002 Cash, production, reserves, Cooper Basin targets, international opportunities, management and technical skill set, production and cash fully funding operational activities • Short term outlook (factual) - Exploration drilling in Cooper Basin - Deve
Slide 26: www.cooperenergy.com.au
< Cooper Energy www.cooperenergy.com.au