Roadshow Presentation September 2018

Transcription

1 Roadshow Presentation September 2018

2 Company Snapshot Operator of 10 oil fields 5years LTI free Equity in 2 Santos operated oil projects Production > 1,000 bbls/day Own drilling rig 5 wells & 10 workovers underway Reserves > 10 x annual production Upside potential Extensive Cooper Basin acreage and EOR Experienced Team Operations, Technical and BD (47 staff) Owned & Funded By New Hope Corp

3 Company History Development Asset Acquisition 2,000 km 2 60% of Utopia Inland 100% Naccowlah 2% PEP150 15% PEP151 25% Cuisinier 15% & Exploration Tenements from Arrow Moonie & Cabawin 100% from Santos Kenmore Bodalla Area ~100% from Beach Utopia 40% from Bounty Built Exploration Portfolio 13,000 km Future Growth Formed by executives of Roc Oil and Anzon with private equity NHC takes initial equity position Becomes wholly owned subsidiary of NHC Corporate Activity

4 Oil Price Cycle

5 Asset Maps Morney High conventional oil leads and plays Cooper Basin Toolebuc world class Shale Play Gas Liquids at 1,500m depth Windorah trough conventional centered gas liquids play in kitchen Proximal to Kenmore oil leads against Canaway ridge on Permian edge Proximal to Naccowlah tenements conventional oil play SW Flank conventional Permian leads and plays and in PEL 641 deep coals play Note: Wet gas & gas production is inboard of Cooper Basin and oil is mainly outboard of the Permian edge

6 Asset Maps (cont) Conventional Roma shelf edge oil plays and Moonie hub production opportunities Surat Basin Otway Basin Arkarua/Digby conventional gas liquids prospect drill ready Note: just offered permit due east of Cabawin block Cabawin area deep conventional gas play for Moonie fuel gas or market and conventional oil play for Moonie hub build Note: Under onshore drilling moratorium to June 2020

7 Financial Year Results

8 Financial Overview Financial Overview FY 2018 FY 2017 Change Production Volumes 000 bbls % Sales Volumes 000 bbls % Revenue A$million % Average Realised Oil Price (A$) per bbl % Operating Costs* (A$) per produced bbl % EBITDA A$million % Profit/(loss) before tax A$million Profit/(loss) after tax A$million Field + oil transport costs to market but excluding royalties Company financial results reporting date 18 Sept as part of NHCL Group

9 Capex and Opex Low cost production operator in Cooper Basin Group oil Netback (at US$75/bbl, exchange rate of 75c): A$55/bbl Lowest cost wells in Cooper Basin Drilled completed and on pump targeting: A$1.2mm for shallower wells (up to 1,500m) A$1.8mm for deeper wells (up to 2,700m) Typical Capex to deliver 2P undeveloped and 2C of A$10-20/bbl 38 operated wells drilled since start-up, 150 wells under management FY19 Drilling 10 (5 operated) development wells 2 (non-operated) exploration wells Competent Seismic Operator Three 3D programmes and four 2D programmes since inception Completed play-based study across most of Cooper and part of Surat

10 Bridgeport Operations

11 Reserves and Resources Net Reserves (MMbbl) 1P 2P 3P Solid 2P reserves > 10 years cover 3/4 operated across 10 fields, 1/4 non operated in 2 field areas Net Contingent Resources (MMbbl) 1C 2C 3C Growth potential from 2C resources ~7-8 million barrels Moonie EOR Project Net Prospective Resources (MMbbl) Low Best High Exploration upside from large portfolio ~2/3 Toolebuc Shale Gas Liquids Play (Jundah Project) The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

12 Strategic Objectives Cash Flow Production volume growth Projects and opex cost discipline Maximise Performance Own drilling rig Multi-skilled workforce Reserves Replacement Existing reserves portfolio: infill wells and workovers Reserves Growth Strategic acquisitions High potential exploration EOR project maximise recovery at the Moonie field with miscible flood CO 2

13 Who We Are Chris Way Chief Executive Officer, Operations Officer Chris has over 38 years experience in worldwide oil and gas upstream operations, production and drilling, marine and land and is a founding shareholder and Director of Bridgeport Energy subsidiaries. Lorna Clarke Chief Financial Officer, Company Secretary Lorna has more than 25 years of international upstream oil and gas experience in management, strategy development, planning commercial, finance, business analysis, risk analysis and joint venture management. Barry Smith Chief Technical Officer Barry has worked as a geophysicist, asset/new venture manager, managing director and non-executive director over a 40 year period in the petroleum industry.

14 Who We Are Cameron Fink Exploration Manager Cameron has over 23 years of petroleum exploration and development experience and has worked in the onshore Cooper-Eromanga, Adavale and Bowen-Surat Basins in Australia as well as the Western Canadian Sedimentary Basin and the Gulf of Mexico. Contact Us Bridgeport Energy Limited Level 7, 111 Pacific Hwy North Sydney NSW

15 Disclaimer IMPORTANT: The information in this document has been provided to you for information only by Bridgeport Energy Limited a wholly owned subsidiary of New Hope Corporation Limited ( NHC ) and is subject to change without notice. Nothing contained in this document constitutes investment, legal, tax or other advice. The information in this document does not take into account your investment objectives, financial situation or particular needs. Before making an investment decision, you should consider, with or without the assistance of professional securities adviser, whether an investment in NHC is appropriate in the light of your particular investment needs, objectives and financial circumstances. Nothing in this document should be considered a solicitation, offer or invitation to buy, subscribe for or sell any security in the United States of America ( US ) or in any place in which, or to any person to whom, it would be unlawful to make such an offer or invitation. The distribution of this document outside Australia may be restricted by law. Persons who come into possession of this document who are not in Australia should seek advice on and observe any such restrictions. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. Neither this document nor any copy hereof may be transmitted in the US or distributed, directly or indirectly, in the US or to any US person including (1) any US resident, (2) any partnership or corporation or other entity organised or incorporated under the laws of the US or any state thereof, (3) any trust of which any trustee is a US person, or (4) and agency or branch of a foreign entity located in the US. By accepting this document you agree to be bound by these limitations. NHC has prepared this document based on information available to it. Although reasonable care has been taken to ensure that the facts stated and opinions given in this document are fair and accurate, the information provided in this document has not been independently verified. Accordingly, no representation or warranty, express or implied is made as to the fairness, accuracy, completeness or correctness of the information and opinions contained in this document. To the fullest extent permitted by law, none of NHC, its directors, employees or agents or any other persons accepts any liability for any loss whatsoever arising from any use of this document or its contents, or otherwise arising in connection therewith.

16 Questions