H3 Energy Limited · ASX:H3E
H3 Energy — Whitebark Energy — Investor Presentation (July 2017)
19 slides from H3 Energy's investor presentation, Jul 6, 2017
Slide 1: Corporate Update – ASX:WBE
Corporate Update – ASX:WBE ASX’s Newest Oil & Gas Producer
Slide 2: 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 3: WBE: ASX's Newest Oil and Gas Producer
WBE : ASX’S NEWEST OIL AND GAS PRODUCER Whitebark Energy Limited : (ASX : WBE) • Low cost production with identified upside in Canada1; Acquired a 20% working interest in Point Loma Resources’ (TSX : PLX) production and exploration assets in Alberta, Canada. Current production rate of 900boepd (
Slide 4: Alberta, Canada – A Premier Address
ALBERTA, CANADA – A PREMIER ADDRESS • World class province - 3.3 million bopd and 11Bcf/d. • 200 rigs operating (3,500 wells/yr) + 1,250,000hp frac pumps. • Proven, prolific hydrocarbon basin. • Supportive government and community. • Attractive regulatory and fiscal regime. • Underutilised extensive
Slide 5: Canadian Production Strategy
CANADIAN PRODUCTION STRATEGY Acquiring production assets characterised by: Attractive acquisition price (circa; $20k/flowing boe/d, 3x operating cash flow/annum); • Ability to increase profit by unlocking stranded production or drilling infill wells; • Leveraging off underutilised infrastructure; •
Slide 6: Point Loma Acquisition Details
POINT LOMA ACQUISITION DETAILS • Whitebark has acquired a 20% working interest in Point Loma Resources’ land, property, equipment and production facilities for A$4.9 million. • 210,000 net acre portfolio – 42,000 acres net to Whitebark. • Existing production of 900 boe/d (25% liquids). Announcements
Slide 7: Right Location, Right Country
RIGHT LOCATION, RIGHT COUNTRY Paddle River is ~100km from central Edmonton, population 900,000. 7
Slide 8: Schematic View of Oil Targets
SCHEMATIC VIEW OF OIL TARGETS 1600m OSTRACOD ●D Mannville Reservoir Nordegg / Banff Sub Crop Plays 8
Slide 9: Paddle River Production Project 2017
PADDLE RIVER PRODUCTION PROJECT 2017 Three opportunities in one, repeatable throughout 210,000 acre land position. • Acquire stranded oil wells • Added Reserves: >1 mmbbls (with pipeline) • Higher Production: + 400bopd • Recomplete and drill 2 - 3 wells • Reduce OPEX: $7/boe • Upgrade and optimise f
Slide 10: Drilling Opportunities - Multiple Zone Oil and Liquids Rich Gas Fairway
DRILLING OPPORTUNITIES - MULTIPLE ZONE OIL AND LIQUIDS RICH GAS FAIRWAY Low cost horizontal wells lifting the performance of proven conventional plays. Drill, complete and 15 stage frac – $1.5m (+ tie in – site specific). Production rates increasing from 100boe/d to 200+boe/d, EUR 260mboe / we
Slide 11: Canadian Work Program Summary
CANADIAN WORK PROGRAM SUMMARY 1. Funded from Whitebark’s initial proceeds of $4.9m to October 17 Production Growth • Acquisition • Paddle Creek – stranded production. • SE – existing production with infill opportunities. • Development Drilling • Two firm development wells bringing on circa 400-500 b
Slide 12: 160MMbbls Xanadu JV – Perth Basin WA
160MMBBLS XANADU JV – PERTH BASIN WA • Un-risked prospective recoverable resource of 160mmbbls (Refer Table 1). • Situated in a proven hydrocarbon ‘fairway’. • Low cost exploration - prospect can be drilled from onshore. • Close to existing infrastructure for commercialisation. • Existing dataset wi
Slide 13: 160MMbbls Xanadu JV
160MMBBLS XANADU JV • The Joint Venture is planning to drill a well on the Xanadu prospect in H2 2017. • Xanadu-1 will target Permian sands from a depth of approximately 800 metres. The Dongara Sandstone represent the primary target, with secondary targets in the Irwin River Coal Measures and the Hi
Slide 14: Alcoa JV - 1.5Tcf Warro Gas Field – Perth Basin WA
ALCOA JV - 1.5TCF WARRO GAS FIELD – PERTH BASIN WA The largest undeveloped onshore gas field in Australia • Warro is a tight gas field with a Contingent Resource of 1.5Tcf and Recoverable Prospective Resource of ~2.3Tcf. • WBE holds a 35%-57% interest. • In 2008, Alcoa entered into a $100m staged fa
Slide 15: WBE 2017 Milestones
WBE 2017 MILESTONES Q3 Q4 Development Wells Exploration Wells Acquisitions Unlocking Stranded Production Developing a diversified portfolio which encompasses an expanding production base with high impact exploration opportunities. 15
Slide 16: Increasing Whitebark Shareholder Value
INCREASING WHITEBARK SHAREHOLDER VALUE Infrastructure Exploration Production Growth Opex Reduction Enhancement Success Whitebark Steps to Success 16
Slide 17: Whitebark – Diversified Oil & Gas Producer
WHITEBARK – DIVERSIFIED OIL & GAS PRODUCER • Low cost production with material upside in Canada. • Low drilling cost, fast approvals, low cost tie in to pipelines. • Leveraging production revenue through reinvestment. • Plan to double production over next 12-18 months. • High impact exploration in A
Slide 18: References and Competency Statements
REFERENCES AND COMPETENCY STATEMENTS The Qualified Reserves and Resources Evaluator Statement – Salt Bush Energy Limited The information in this report that relates to the oil and gas reserves of Point Loma Resources Ltd was compiled by technical employees of McDaniel and Associates Ltd a leading in
Slide 19: Thank you
Thank you David Messina Managing Director E: [email protected]