Otto Energy Limited · ASX:OEL
Otto Energy — Shareholder Meeting (November 2006)
25 slides from Otto Energy's shareholder meeting presentation, Nov 9, 2006
Slide 1: Annual General Meeting - Presentation (ASX announcement)
9 November 2006 Manager of Company Announcements Australian Stock Exchange Limited Level 6, 20 Bridge Street SYDNEY NSW 2000 ANNUAL GENERAL MEETING - PRESENTATION Please find attached the presentation for the Annual General Meeting to be held at 2pm today at the Celtic Club, 48 Ord Street, West Pert
Slide 2: AGM 9 Nov 06 Corporate & Project Update
AGM 9 NOV 06 CORPORATE & PROJECT UPDATE
Slide 3: Disclaimer
DISCLAIMER This presentation does not constitute an offer to sell securities and is not a solicitation of an offer to buy securities. It is not to be distributed to third parties without the consent of Otto Energy Ltd. (the “Company”). This presentation contains forward-looking statements that are n
Slide 4: Corporate
CORPORATE BOARD Australian Office Rick Crabb - Chairman (non Exec) – West Perth, Western Australia Jaap Poll - Executive Director – Corp Advice & services - Grange Consulting Ian Macliver – Director (non Exec) Rufino Bomasang – Director (non Exec) Manila (NorAsian) – Rufino Bomasang (Chairman – NorA
Slide 5: Capital Structure
CAPITAL STRUCTURE Shares Options Performance (20c/1 Dec 06) Shares Issued 117,144,375 67,015.300 2,500,000 Market Cap $22m @19cps Cash $1.5m Note: 2 M shares + 1 M options (20c, 1/12/06) on re-entry of Calauit and 10 M shares + 20 M options (30c, 31/12/07) on Calauit producing 1 M barrels of oil – t
Slide 6: Corporate Structure
CORPORATE STRUCTURE Otto Australian Public Company (ASX listed - OEL) 100% 100% 32.48% (Option to 41.24%) Edirne NorAsian Cynthia (Turkish Comp.) (Bermuda Comp.) (BVI Comp.) Turkey Philippines Argentina 100% Oromin 65-80% 65% 50% 55% Exploraciones Thrace Basin Visayan 100% Edirne 65% Calauit UDW 2 B
Slide 7: Project Overview - The Philippines
THE PHILIPPINES PROJECT OVERVIEW Satellite Photo - Philippines NorAsian - Licence Map of Philippines
Slide 8: Selection Criteria
THE PHILIPPINES SELECTION CRITERIA Why offshore Philippines ? – proven hydrocarbon provinces with nearby energy markets – a well respected management team in Manila – low sovereign risk to oil industry – renewed interest by foreign companies (new applications and farmins) Otto now has operational co
Slide 9: Calauit Oil Field
THE PHILIPPINES CALAUIT OIL FIELD Calauit SC50, Showing Regional Calauit “Early Production System” Oil & Gas Fairway
Slide 10: Calauit - Key Statistics
THE PHILIPPINES CALAUIT - KEY STATISTICS 100% OEL (65%) Barrels in Place 39.4 mmbo 25.6 mmbo Recoverable Reserves 6.6 mmbo 4.3 mmbo Total CAPEX US$20 m US$8 m (ex carry) Total REVENUE US$ 283 m US$184 m Calauit is Brent – 15% US$ 340 m US$ 221 m US$50 Brent US$ 396 m US$ 257 m US$60 Brent US$70 Bren
Slide 11: Calauit Field - 3 Well Simulation Study
8,000 16,000 24,000 Total Fluid Production Rate bopd 2008 09 10 OPT Cumulative Oil Production (MMbb1) CALAUIT FIELD – 3 Well Simulation Study
Slide 12: Prospect Details
THE PHILIPPINES PROSPECT DETAILS East Visayan Basin SC51 - SC51, Leyte Block – E-W Seismic Section of Licence Location Map Villaba Gas Discovery & Adjacent Reef Prospects
Slide 13: Prospect Details (cont.)
THE PHILIPPINES PROSPECT DETAILS (cont.) SC51, Cebu Block E-W Seismic Section showing Argao & Cabilao Prospects - Prospect Map with hydrocarbon indicators (“amplitude anomalies and bright spots”)
Slide 14: Prospect Details (cont.)
THE PHILIPPINES PROSPECT DETAILS (cont.) SC55, Ultra Deep Water Blocks Giant Marantao Reef Prospect (5 x Malampaya size) multiple play-types & leads with gas chimney and seabed oil and gas seeps identified 460 km Marantao 2D shot Oct 2006
Slide 15: Marantao prospect compared with Malampaya Field
10 Km 30 Km Malampaya Field on same scale (50-200 mmbo & 3.5 TCF gas)
Slide 16: Summary - SC55
SUMMARY - SC55 SC 55 lies in the main oil fairway as the giant Malampaya Field to the north and the giant oil discoveries made by Murphy and Shell / D Conoco to the south. N E TR Oil Seeps, Gas Chimneys and Bright Spots in AS SC 55 SC55 indicate an active generative hydrocarbon G & Ultra Deep Water
Slide 17: SC51 and SC55 - Key Statistics
THE PHILIPPINES SC51 and SC55 – KEY STATISTICS Operator TransAsia’s Potential Recoverable Reserves mmbo reserve estimates (Otto share) Low Mean High SC 51 Argao Prospect 33 123 (61.5mmbo) 270 Bahay Lead 5 25 (12.5 mmbo) 50 Cabilao lead 37 84 (42 mmbo) 145 Total SC 51 75 232 (116 mmbo) 465 SC 55 Mara
Slide 18: Project Overview - Turkey
Turkey PROJECT OVERVIEW Satellite Photo – Licence location and infrastructure of Thrace Basin Western Turkey & Thrace Basin
Slide 19: Thrace Basin - Edirne Licence
Turkey THRACE BASIN - EDIRNE LICENCE Bati Umur-1 first well gas discovery Dec. 2005
Slide 20: Thrace Basin - Edirne Licence
Turkey THRACE BASIN - EDIRNE LICENCE Prospect Montage – Bati Umur-1 gas discovery, Arpaci-1 gas shows and Koyustu prospect
Slide 21: Thrace Basin - Edirne Licence Program
Turkey THRACE BASIN - EDIRNE LICENCE PROGRAM Arpaci-1 gas shows •Seismic Sep - Nov 06 •Drilling 2 wells Dec 06 – Jan 07 •Testing Up to 4 wells Jan/Feb 07 Bati Umur-1 gas discovery Koyustu drilling prospect
Slide 22: Project Overview - Argentina
ARGENTINA PROJECT OVERVIEW OTTO acquires 32.48% in 200 million barrel potential Santa Rosa dome
Slide 23: Cuyana Basin & Santa Rosa Dome
ARGENTINA CUYANA BASIN & SANTA ROSA DOME E-W profile showing oil fields in western part of basin, source beds in basin center and likely migration paths eastwards towards the Santa Rosa dome
Slide 24: Summary
SUMMARY Otto has built a balanced E&P portfolio in proven oil & gas basins LOW RISK - MODERATE REWARD Onshore Thrace Basin Licences • high gas prospectivity, first well gas discovery, 2006/07 farmout carry 15% for A$3m, seismic and drilling in 2006/07 aiming for gas commerciality and production in l
Slide 25: Company Objectives
COMPANY OBJECTIVES Otto aims to create wealth for shareholders from exploration and production activities worldwide, through: – Investments in proven oil provinces with existing infrastructure, good legal and commercial framework and acceptable sovereign risk – Working towards early cash-flow to sus