Conrad Asia Energy Ltd. · ASX:CRD
Conrad Asia Energy — Investor Presentation (February 2024)
29 slides from Conrad Asia Energy's investor presentation, Feb 2, 2024
Slide 1: Gas Exploration & Development Company in World's Fastest Growing Energy Region
For personal use only Not For Release To USA Wire Services or Distribution In The United States Gas Exploration & Development Company in World’s Fastest Growing Energy Region ASX: CRD 2 February 2024
Slide 2: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation is dated 31 January 2024 and has been prepared by Conrad Asia Energy Ltd (the "Company" or "Conrad") in Given the risks and uncertainties that may cause the Company actual future results, performance or achievements to be relation a proposed placemen
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer Forward looking statements should be read in conjunction with, and are qualified by reference to, risk factors as set out in Section 5 of (and other information in) the Prospectus dated 9 September 2022 and the "Key Risks" section of this presentation. Conrad’s forwar
Slide 4: December Quarter Update
December Quarter Update Considerable progress in maturing the Mako project and evaluating exploration potential of Aceh Development progress Funding progress ü Front end engineering design (“FEED”) studies for the Mako development project have concluded ü Duyung farm down process is progressing with
Slide 5: Investment Highlights
Investment Highlights Conrad is a Singapore energy company - shares are publicly listed on the ASX through Chess Depositary Interests (CDIs) • Pure play exposure to Asia offshore gas and to the world’s fastest growing energy market Offshore Asian Gas Resources • Total 2C Contingent Resource of 578 b
Slide 6: Delivery of Key Milestones
Delivery of Key Milestones Conrad has demonstrated a strong track record of consistent delivery KEY HIGHLIGHTS SINCE IPO: NEAR TERM CATALYSTS: o Awarded Revised Plan of Development at Mako1 o Conclude Mako Procurement Process (1Q 2024) For personal use only o Key Terms for Mako gas sales signed with
Slide 7: Attractive Portfolio of Projects
Attractive Portfolio of Projects Duyung PSC (which contains Mako) is the cornerstone asset of Conrad’s portfolio with additional exploration assets providing upside 1. Near Term Production Duyung PSC, 76.5% Participating Interest – Mako Gas Field • Contains the Mako Gas Field, with 2C Contingent Res
Slide 8: Duyung PSC and Mako Gas Field Overview
Duyung PSC and Mako Gas Field Overview The largest undeveloped gas discovery in the West Natuna Sea with key under-utilised infrastructure in place • The Mako Gas Field principally lies within the Duyung PSC in the Natuna Sea which is recognised a major hydrocarbon basin For personal use only • The
Slide 9: Mako Project Costs Being Optimised
Mako Project Costs Being Optimised Ø FEED Completed. Project Scope largely unchanged from GCA CPR1 o Planned six Phase 1 development wells targeted to deliver 120 mmscfd (100%) for a plateau period of seven years (with production decline thereafter)2 Current Project Scope o Well / facility locations
Slide 10: Mako is Strategically Positioned
Mako is Strategically Positioned Mako is located close to existing transportation infrastructure Mako adjoins major gas export infrastructure (WNTS) with currently only Access to WNTS – technical and commercial work on track ~60% (and steadily declining) utilisation rate • Conrad is currently comple
Slide 11: Gas Sales Export & Potential Domestic
Gas Sales Export & Potential Domestic Export Gas Sales Agreement Now Highly Mature … … to supply growing Asian demand centres • Conrad has signed a non-binding Term Sheet with Sembcorp Gas Pte Ltd. (a Singapore based major gas and generating utility) which outlines the core terms and West Natuna Tra
Slide 12: Aceh PSCs – New PSCs
Aceh PSCs – New PSCs The Aceh PSCs contain numerous offshore gas discoveries as well as large exploration opportunities Location Map of Offshore Aceh PSCs • Conrad was awarded two new PSCs in January 20231, located offshore northwest Sumatra within the Aceh Province of Indonesia For personal use onl
Slide 13: Aceh PSCs – Discovered Resources
Aceh PSCs – Discovered Resources The Aceh PSCs contain numerous offshore gas discoveries • The shallow water discoveries, located close to shore, were made in the 1970’s and are sited in geological formations known as “pinnacle reefs” ONWA / OSWA Discoveries • The gas flowed to surface from all of t
Slide 14: Aceh PSCs – Prospective Resources
Aceh PSCs – Prospective Resources The Aceh PSCs contain numerous offshore gas discoveries as well as large exploration opportunities Play Concept Diagram Middle Miocene Carbonate Play with examples of Direct Hydrocarbon Indication and Gas Breaching For personal use only Seismic Section and Play Type
Slide 15: Aceh PSCs – Prospective Resources
Aceh PSCs – Prospective Resources The Aceh PSCs contain Prospective Resources of 11 Tcf net to Conrad ONWA PSC – Prospective Resources Prospective Resources (Bcf) Chance of Legend Water Depth Lead Play / Trap Low (P90) Gross (100%) Best (P50) High (P10) Net Attributable (to Conrad) Low (P90) Best (P
Slide 16: Capital raising overview
Capital raising overview Placement to raise approximately A$13m and Security Purchase Plan to raise up to A$2m • Placement to raise approximately A$13m through the issue of ~13.7m New CDIs, representing ~8.5% of Conrad’s currently issued capital • The Company retains the right to accept oversubscrip
Slide 17: Sources and Uses of Funds
Sources and Uses of Funds Funds raised will be used to support Aceh exploration studies and seismic data, general project costs and working capital For personal use only Sources A$m • The Company is undertaking an equity raise of approximately $13m to fund exploration at Aceh, advance Mako ahead of
Slide 18: Indicative Timetable
Indicative Timetable Event Date Trading halt, Quarterly Activities Report released Wednesday, 31 January 2024 For personal use only Placement bookbuild conducted Thursday, 1 February 2024 Record date for SPP 7:00pm (AEDT) on Thursday, 1 February 2024 Trading halt lifted, announce completion of Place
Slide 19: Key Takeaways
Key Takeaways Exposure to a portfolio of South-east Asian gas development, appraisal and exploration assets Conrad believes that the quickest and best way to reduce global emissions is to accelerate the energy transition. Conrad also believes that gas will play an important role in progressing this
Slide 20: Appendix
For personal use only Appendix 20
Slide 21: Conrad Share Price Movement
Conrad Share Price Movement Chess Depositary Interests (CDIs) – Impact of Post-Escrow Sell Down Conrad share price performance since listing benchmarked against the ASX300, ASX Small Ords and ASX300 Energy indices, and Brent Oil1 Relative share price performance (since listing, 27 October 2022) CONF
Slide 22: Indonesia – An Asian Economic Powerhouse
economy. Monetary tightening and slowing global trade will weigh on fixed capital formation, but housing construction activity is expected to increase, notably in the new capital city Nusantara. Two years of monetary tightening have pushed down inflation, which is projected to be around 2.5% in 2024
Slide 23: Unique Gas Opportunity
Unique Gas Opportunity Indonesia offers a compelling gas investment opportunity with Asia demand growth for gas strongest over the next 10+ years ü “Global GDP per capita is expected to rise by roughly 85% by 2050. The global population is expected to rise by 2 billion, a 25% increase. The utility o
Slide 24: Board and Management
Board and Management Highly experienced Board & Management team with strong technical, operational and financial backgrounds Board Management For personal use only Peter Botten Miltos Xynogalas David Johnson Miltos Xynogalas David Johnson Non-Executive Chairman Founder, Managing Director & CEO Execu
Slide 25: Key Risks
Key Risks This section sets out the key risks attaching to an investment in New CDIs, which may affect the future operating and financial performance of Conrad and the value of Conrad CDIs. The risks set out below do not constitute an exhaustive list of all risks involved with an investment in Conra
Slide 26: Key Risks Continued
Key Risks Continued EXPLORATION RISK PRODUCTION RISK Oil and gas exploration is by its nature, speculative, and each Prospect and Lead carries a degree of risk associated with the successful The Company’s existing portfolio of assets are not in production. There is a risk that the Company’s assets m
Slide 27: Key Risks Continued
Key Risks Continued SPECIFIC RISKS IN RELATION TO THE COMPANY’S ASSETS OFFER RISKS PERFORMANCE UNDER THE POD REVISION DILUTION RISK All companies are required to undertake activities, within certain timeframes, stipulated in plans of development. The Company will be Existing CDI holders who do not p
Slide 28: Foreign Offer Restrictions
Foreign Offer Restrictions INTERNATIONAL OFFER RESTRICTIONS SINGAPORE This document does not constitute an offer of New CDIs in any jurisdiction in which it would be unlawful. In particular, this document may not This document and any other materials relating to the New CDIs have not been, and will
Slide 29: For personal use only
Peter Botten Chairman Conrad Energy Asia For personal use only [email protected] Mario Traviati Non-Executive Director Conrad Energy Asia [email protected] +65 6517 9700 Miltos Xynogalas Managing Director Conrad Energy Asia [email protected] +62 811 904 658 Diego Fettweis Chief Commercial
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