Buru Energy Ltd · ASX:BRU
Buru Energy — Investor Presentation (August 2015)
16 slides from Buru Energy's investor presentation, August 2015
Slide 1: Delivering Western Australia's Energy Future
Delivering Western Australia’s Energy Future Corporate Presentation August 2015 www.buruenergy.com
Slide 2: Summary
Summary Who are we What do we do The assets 2015 Program Value drivers 2
Slide 3: Buru Energy - Who are we
Buru Energy - Who are we Listed Australian company (ASX: BRU) Canning Superbasin sole focus Unique whole of basin position (~45,000 sq kms net) Highly prospective and underexplored basin Generally 50% equity and operator. Major partners Mitsubishi & Quadrant Multiple play types with high
Slide 4: Corporate Overview
Corporate Overview 6 month share price Company Formed 2008 Ticker ASX:BRU Index S&P/ASX300 Shares on issue 340 million Share price ~$0.34 Market Cap ~$114 million Cash on hand ~$41.9 million (at 30 June) 45,620 sq km Net Acreage 11.2 million acres Key Partners Mitsubishi, Quadrant Board Eric Streitb
Slide 5: Focused on high value opportunities!
Focused on high value opportunities! 2007 - Unique basin wide position established (one off opportunity) 2010 - Farmed out to Mitsubishi (~$150mm deal) 2010-2013 - Identified and quantified potential world class tight gas opportunity 2011/2102 - Discovered , appraised and stared production from Unga
Slide 6: 2015 Focus
2015 Focus Unique window of opportunity for Buru Energy Focus on core areas that have the highest prospectivity and lowest risk, Well funded, unique low cost operating window Extensive prospect portfolio Value delivery Current climate ideal for realigning the business back to basics Step b
Slide 7: Ungani Oilfield
Ungani Oilfield Commercial production commenced – cash flow being generated Excellent reservoir performance - confirmed by Extended Production Test and current initial flows Production during EPT ~470,000 bbls gross (Buru 50%) Commercial startup process completed Traditional owner agreements: comp
Slide 8: Oil: Conventional Prospects
Oil: Conventional Prospects Extensive high prospectivity portfolio Ungani Trend Conventional vuggy dolomite reservoir discovered in 2011 Structures are readily imaged by geophysics Trend covers over +120 kms by 40 kms (+1 million acres) First exploration drilling underway since Ungani North
Slide 9: Laurel Tight Gas regional resource
Laurel Tight Gas regional resource Resource +100 TCF in the BCGS and +1Bn bbls oil (gross) - with 47 TCF gas net to Buru (**independent estimates of prospective resources) Tight Gas Pilot Exploration (Fracc) Program Regulatory Approvals WA Environment Minister upheld EPA decision that: Buru’s “s
Slide 10: Conventional Gas (2016 program)
Conventional Gas (2016 program) New Geological Concepts Enhance Prospectivity Work over the last two years has defined much higher conventional gas potential than previously recognised Ungani style prospects in the gas window particularly attractive Possible oil as well as gas given the high o
Slide 11: Gas Market Dynamics
Gas Market Dynamics Local markets Excellent potential for initial gas sales into the Kimberley Market includes power generation (15- 20TJ/day), mineral processing (15-20TJ/day), small scale gas to liquids (10TJ/day) and domestic and transport (5-10 TJ/day) Local potential of 60 TJ/ day with to
Slide 12: 2015 Program – Indicative Timeline
2015 Program – Indicative Timeline Q2/2015 Q3/2015 Q4/2015 4Q2012 UNGANI Facilities upgrade and Approvals Production U3 test UN test Atlas DRILLING Rig 2 Praslin 1 Victory 1 Senagi 1 Emanuel DDH1 Rig 31 Olympic Ophir Geophysics SEISMIC YM 3D RAPHAEL HT AIRBORNE GRAVITY AGG Note: Note that drill
Slide 13: Funding
Funding Current Situation Cash end of June quarter ~$41.9M, budgeting for ~$26M at year end Ungani development Relatively low cost - main cost is wells Broome Export facility - off balance sheet funding Cash flow positive at current oil prices Mitsubishi Funding agreement reset ($27.5M) with
Slide 14: Buru Energy value drivers
Buru Energy value drivers Pivotal moment for the Buru Energy oil business Funding in place Traditional Owner agreements secured Ungani commenced commercial production Costs driven down 5 to 7 well oil exploration program commenced May 2015 Significantly increased conventional gas potential Tight gas
Slide 15: The sun rises on the Canning Basin
The sun rises on the Canning Basin 15
Slide 16: Important Notice and Disclaimer
Important Notice and Disclaimer Disclaimer This document has been prepared by Buru Energy Limited ABN 71 130 651 437 (“Buru Energy"). This presentation contains certain statements which may constitute "forward-looking statements". It is believed that the expectations reflected in these statements ar