Amplitude Energy Limited · ASX:AEL
Amplitude Energy — Cooper Energy — Investor Presentation (October 2023)
16 slides from Amplitude Energy's investor presentation, October 2023
Slide 1: Investor Presentation
Orbost Gas Processing Plant, Victoria Biodiversity Project, Coorong, South Australia October 2023 Investor Presentation
Slide 2: Disclaimer
Disclaimer This document contains summary information about Cooper Energy and its activities as at the date of this document and should not be considered to be comprehensive or to comprise all the information which a shareholder or potential investor in Cooper Energy may require in order to determin
Slide 3: Cooper Energy investment case
Cooper Energy investment case The E&P pure play on the Australian East Coast gas market New gas supply needed in Southeast Australia to support energy transition Integrated infrastructure position with expansion potential Cash generative and strong balance sheet Near-term, actionable develop
Slide 4: The pure play in Australia's largest domestic gas market
The pure play in Australia’s largest domestic gas market Located in known basins with untapped resources and access to structurally short gas market Adelaide Company overview NSW Ticker ASX:COE SA Number of shares outstanding, MM 2,628.7 VIC 30-day VWAP to 30 Sep 2023, A$/share 0.12 30-day average d
Slide 5: Positioned to capture long-term supply gap
Positioned to capture long-term supply gap Market supports long-term growth opportunities at LNG import parity Southern states forecast supply/demand (source: AEMO), PJ/year1 Gippsland, Otway & Bass Basins, WM commercial reserves (PJe)2 500 Developed & committed 3,524 Anticipated 675 Other gas flow
Slide 6: Positioned to support further integration of variable renewables
Positioned to support further integration of variable renewables South Australia is a window into the future role of gas supply in Southeast Australia’s power mix South Australian electricity supply by type (~70% renewables annually), MW1 Exports Imports Battery (Discharging) Wind Solar 3,000 2,000
Slide 7: Significant cash generation potential
Significant cash generation potential Gippsland production is highly geared to the East Coast spot gas price Orbost, operating leverage, A$mm Athena, average processing rate (100% gross), TJ/d 400 150 65 TJ/day AGP processing capacity 150 TJ/d Sole/OGPP annual EBITDAX, A$mm 300 90 60 TJ/day 55 TJ/da
Slide 8: Otway Basin gas hub—visible near-term growth
Otway Basin gas hub—visible near-term growth Six prospects identified with high assessed chance of geological success Otway phase-3 development Development of Annie gas discovery 64.6 PJ 2C (100% basis)1 through Athena Drilling campaign based around Annie + 2 low-risk exploration wells — Close t
Slide 9: Gippsland Basin gas hub
Gippsland Basin gas hub Foundation to develop Cooper Energy’s proven and prospective Gippsland gas portfolio •Manta and Gummy contingent resource 1C 2C 3C estimates (COE 100% interest)1 Gas PJ 95 185 343 Condensate MMbbl 2.5 4.9 9.7 Future development option, COE interest 100% Manta-3 appraisal
Slide 10: Strong balance sheet with significant funding flexibility
Strong balance sheet with significant funding flexibility Cash on balance sheet plus fully committed senior secured bank debt Overview Existing fully committed capital, plus accordion Fully committed A$400 million RBL + A$20 A$mm million working capital facility Additional A$120 million accordio
Slide 11: Focus on delivering business priorities
Focus on delivering business priorities Positioning for the next phase of growth in FY24 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Orbost Orbost performance improvement plan Mid case avg: mid 50’s TJ/d High case avg: high 50’s TJ/d performance BMG BMG wells abandonment abandonment Cost savings Cost savings, i
Slide 12: Cooper Energy—carbon neutral since FY20
Cooper Energy—carbon neutral1 since FY20 Independently verified and certified by Climate Active Committed to maintaining carbon neutral1 status via three pillar approach Efficiency Site/operations focus Reduce gross emissions intensity Carbon neutral1 enabler Differentiated access to capital
Slide 13: Appendix
Appendix
Slide 14: Multiple growth opportunities within portfolio
Multiple growth opportunities within portfolio High graded offshore exploration and appraisal prospects to backfill existing infrastructure Development / Future exploration options1 Near term exploration1 appraisal2 Production3 Manta Deep Higher risk Chimaera East Gummy Deep Wobbegong Elanora Heera
Slide 15: Exploration success rates in the Offshore Otway Basin are world class
Exploration success rates in the Offshore Otway Basin are world class 94% success rate for seismic amplitude supported prospects Waarre Formation seismic amplitude map showing target prospects 29 exploration wells drilled in the Offshore Otway Basin — 16 gas field discoveries to date (success rate
Slide 16: Increasing exposure to higher term and spot gas prices
Increasing exposure to higher term and spot gas prices Group annual contracted gas quantities (Gippsland/Sole1 + Otway/Casino Henry Netherby) TJ/day PJ/annum Existing price (indexed) 2 (approximately) 30 Buyer extension option 3 82 Majority of price Capped price review 4 reviews from 2026 Uncontract