Key Petroleum Limited · ASX:KEY
Key Petroleum — Shareholder Meeting (November 2012)
22 slides from Key Petroleum's shareholder meeting presentation, Nov 30, 2012
Slide 1: Key Petroleum Limited Annual General Meeting
Key Petroleum Limited Annual General Meeting 30 November 2012
Slide 2: Disclaimer
Disclaimer Key Petroleum Limited The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of Key Petroleum Ltd and consult with their own legal, tax, bus
Slide 3: Strategic Direction
Strategic Direction Key Petroleum Limited Primary re-focus to Australian exploration and development opportunities The Company has now exited from all minority small impact international interests New board in place with track record of success as at July 2012 to execute new strategic directio
Slide 4: Goals Achieved 2012
Goals Achieved 2012 Key Petroleum Limited • Divested all non-core assets (Tanzania, Suriname and United Kingdom) • Exited Italy • New board in place from August 2012 that have executed the August Key strategic direction for remainder of 2012 • Reduced overheads by moving to small office with only tw
Slide 5: Current Board
Current Board Key Petroleum Limited • Mr Kane Marshall – Petroleum Engineer BSc (Geology), BCom (Corp. Finance) & MPetEng Appointed Managing Director in April 2012 with over 10 years experience in exploration, production and development internationally and in Australia • Mr Ian Paton – Geophysicist
Slide 6: Exploration Interests
Exploration Interests Key Petroleum Limited • Canning Basin - Conventional and Unconventional: EP 448 - 70.00% EP 438 - 76.00% EP 104 - 16.44% R1 - 16.44% Production License L15 (West Kora Oil Field) - 49.00% • North Perth Basin Conventional Oil: EP 437 - 50.00% After completion of fa
Slide 7: Canning Basin Interests
Canning Basin Interests Key Petroleum Limited
Slide 8: Canning Basin Interests (cont.)
Canning Basin Interests (cont.) Key Petroleum Limited • Interests in four million gross acres encompassing conventional and unconventional targets • Liquids focused exploration • Key operates one block (EP 448) and currently operates Cyrene-1 on behalf of the EP 438 Joint Venture • Cyrene-1: Post
Slide 9: Exploration Programme
Key Petroleum Limited Exploration Key Petroleum Limited Programme Cyrene-1 commitment well targeting both conventional and unconventional plays over a 4 way dip anticlinal structure
Slide 10: Exploration Programme: Cyrene-1, Onshore Canning Basin
Key Petroleum Limited Exploration Key Petroleum Limited Programme CYRENE -1, ONSHORE CANNING BASIN, WA • Cyrene-1 farmed out to Buru Energy to earn 75% (Mitsubishi and Buru) in EP 438 by spending $3 million including a well • Key Petroleum (70%) and Indigo Oil Pty Ltd (20%) are carried through the $
Slide 11: Cyrene-1 Geographic Location
Cyrene-1 Geographic Location Key Petroleum Limited LOCATION 100km South of Broome, 1.5km from Great Northern Highway The Cyrene structure consists of a four way dip closed anticline with estimated potential recoverable oil 5MBO Is adjacent to the Hedonia-1 well drilled by Gulf in the early 1980s, wh
Slide 12: Cyrene-1 Wellsite Layout
Cyrene-1 Wellsite Layout Key Petroleum Limited Store Tools Fuel Tank Tank Tank Tank 1 2 3 F Sump l a 20m x 15m r e L i n e DCA Rig 7 Layout
Slide 13: Cyrene-1 Wellsite Activities
Cyrene-1 Wellsite Activities Key Petroleum Limited WELLSITE ACTIVITIES • 30 man drilling camp and tubulars mobilised to site • Last of DCA Rig 7 and equipment on route to site • Site works completed including fencing around lease to protect from cattle on local station • Custom built drilling pad in
Slide 14: Cyrene-1 Wellsite Activities (cont.)
Cyrene-1 Wellsite Activities (cont.) Key Petroleum Limited A large part of the 30-man Drilling Camp was mobilised from Exmouth in November
Slide 15: Cyrene-1 Wellsite Activities (cont.)
Cyrene-1 Wellsite Activities (cont.) Key Petroleum Limited Graded roads into the well location and truck lay down areas (top left), the edge of drilling pad (top middle), drilling pad after fencing fencing (top right), bunding and installation of water well pump (far left) and the sump (left) have a
Slide 16: Cyrene-1 Personnel
Cyrene-1 Personnel Key Petroleum Limited Key Petroleum Wellsite Geologist Mike Harrison (right) at Point Torment in the 1990s (Canning Basin, EP 104) and Drilling Manager Hugh Edwards (below and left) at West Kora (L15) in the 1980s
Slide 17: Canning Basin Conventional & Unconventional Upside Potential
Canning Basin Conventional & Key Petroleum Limited Unconventional Upside Potential • Athos 2D seismic survey has identified other conventional and unconventional structures in the EP 437 Buru Energy operated permit. • Core of Goldwyer shale will assist in understanding of unconventional potential of
Slide 18: Canning Basin Conventional & Unconventional Upside Potential (cont.)
Canning Basin Conventional & Key Petroleum Limited Unconventional Upside Potential (cont.) • Currently seeking farmin partner to drill a well in 2013/14 Canning Basin dry season • Several other conventional structural and stratigraphic leads identified on trend with Ambrose (Walsh, Croft, Garner and
Slide 19: North Perth Basin Conventional & Unconventional Potential
North Perth Basin Conventional & Key Petroleum Limited Unconventional Potential • Key Petroleum has a 50% interest in EP 437 • The Key technical team has identified two distinct play types: Unconventional carbonaceous shale gas potential of the Cattamarra Coal Formation Conventional Triassic oil
Slide 20: North Perth Basin Conventional & Unconventional Potential (cont.)
North Perth Basin Conventional & Key Petroleum Limited Unconventional Potential (cont.) • EP 437 Commitment Waugh-1 is planned to test both unconventional and conventional play types: Dedicated flow test of Cattamara shale intervals Open hole drill stem test planned if good oil shows are found i
Slide 21: North Perth Basin Conventional & Unconventional Potential (cont.)
North Perth Basin Conventional & Key Petroleum Limited Unconventional Potential (cont.)
Slide 22: Corporate Position
Corporate Position Key Petroleum Limited • Key Petroleum listed in 2007 • Market Capitalisation as at 30 1 Year Daily Share Price Movement November 2012 is ~ $13.5 million • Cash ~ $4.4 million • Capital Structure 450,509,417 shares Appointment of new Board • 1610 shareholders with the Top 20 contro