H3 Energy Limited · ASX:H3E
H3 Energy — Whitebark Energy — Investor Presentation (July 2019)
12 slides from H3 Energy's investor presentation, July 2019
Slide 1: Growth through disciplined execution
Growth through disciplined execution Investor Presentation July 2019 Slide 1
Slide 2: Investment Highlights
INVESTMENT HIGHLIGHTS 1 Targeting +1,000bbls/day net production from Wizard Lake 2 Strong news flow - Rex-1 now producing, Rex-2 & 3 to follow by year end 3 Low cost operations drive robust margins 4 Working interest in Wizard Lake increasing to 50% after two well farm-in 5 Alberta – a low-risk, tie
Slide 3: WBE: ASX's Expanding Oil and Gas Producer
WBE : ASX’S EXPANDING OIL AND GAS PRODUCER Vision: To build a mid-tier oil & gas producer through drilling and acquisition. Alberta, Canada Wizard Lake Oil Discovery - Jan 2019 • Rex-1 now producing at ~200-250 bopd**** (gross) • 18 additional drilling locations in the oil field** Western Australia
Slide 4: Whitebark – The Numbers
WHITEBARK – THE NUMBERS Assets Generating Value Value Opportunity 37,000 450-500 boe/d 2019 Exit Rate Target: ~A$6m >$4m*** Net Cash Current production ~800 boe/d Enterprise Value Net acres 45% liquids 70% liquids (no debt) (EV)**** 2,355,000 boe* 3 Rex-1: Producing Rex-2: Jul 19 EV/2P Canada Averag
Slide 5: Disciplined Strategy Execution
DISCIPLINED STRATEGY EXECUTION Well-defined growth strategy Focus: Wizard Lake Development Alberta, Canada Phase 1: Completed* Reserves and Opportunistic Production • Rex-1 successfully drilled Purchases Growth • Flowing 300-400 bopd prior to end of cleanup testing Good Quality Assets at Drilling vs
Slide 6: Alberta, Canada – A Premier Address – 3rd in World Reserves
ALBERTA, CANADA – A PREMIER ADDRESS – 3RD IN WORLD RESERVES • 100 rigs operating (3,500 wells/yr) + 1,250,000hp frac pumps • Supportive government and community • Attractive regulatory and fiscal regime • Highly experienced workforce • Low cost operating environment: • Drilling costs low, speedy app
Slide 7: Wizard Lake Overview
WIZARD LAKE OVERVIEW • Net 2P Reserves 225,000* bbls oil ascribed to four wells • Additional wells expected to increase Reserves • Targeting Cretaceous Rex Sand • Data from Rex-1 demonstrates good reservoir qualities • Passed over by previous producers in 1950-60’s targeting deeper Reef pools • Hist
Slide 8: Phase 2: Funded and Underway
PHASE 2: FUNDED AND UNDERWAY* Production Facilities and Pipeline: Rex-1 in production • First oil from Rex-1 on June 5th • Currently producing 200-250 bbls/day (gross)** • Oil delivered at 99.5% purity • Production Facilities constructed and operational on schedule • multi‐well pad • associated proc
Slide 9: Phase 2: 2019 Minimum Two Well Drilling Program
PHASE 2: 2019 MINIMUM TWO WELL DRILLING PROGRAM* Rex-2 and Rex-3 offer step change to WBE’s production profile • Rex-2 target spud in July: Funding in place for development activities at 100% if required: • Targeting 300-400bopd • $2.0m cash reserves • On existing surface location • $2.0m additional
Slide 10: Investment Summary – Participate in a 2019 Growth Story
INVESTMENT SUMMARY – PARTICIPATE IN A 2019 GROWTH STORY Activity – Firm Funded Program • Rex-1 successfully producing at 200-250 bbls/day* • Working Interest in field increased to 50% following two well farm-in** • Rex-2 imminent • Rex-3 spud Q4 2019 Outcome • Target 800-1200 boe per day Current Ent
Slide 11: Disclaimer
DISCLAIMER No representation or warranty, expressed or implied, is made by Whitebark Energy Ltd that the material contained in this presentation will be achieved or prove to be correct. Except for statutory liability which cannot be excluded, Whitebark Energy, their officers, employees and advisers
Slide 12: Thank you
Thank you David Messina Managing Director E: [email protected] Slide 12