Tangiers Petroleum & Jacka Resources
|
|
- Marylou Garrett
- 5 years ago
- Views:
Transcription
1 Tangiers Petroleum & Jacka Resources Creation of a premier small to mid-cap African focused upstream oil & gas company RECOMMENDED TAKEOVER OFFER BY TANGIERS PETROLEUM FOR JACKA RESOURCES 5 December 2013
2 Summary of the Offer Recommended takeover offer by Tangiers Petroleum for Jacka Resources Transaction Overview Terms Conditions Board Recommendation Tangiers Petroleum Limited ( Tangiers ) to acquire Jacka Resources Limited ( Jacka ) via off-market takeover ( Offer ) Tangiers is offering Tangiers shares for every Jacka share held The Offer ratio implies a value of 11.2 cents per Jacka share (1), which is a 56% headline premium to Jacka s last closing price of 7.2 cents Tangiers has agreed to provide Jacka with a $2.5m loan facility to assist Jacka s funding in Q The Offer is subject to limited conditions, including a 90% minimum acceptance, no material adverse change and no prescribed occurrence clauses Eve Howell to remain as Chairman of Tangiers, with Bob Cassie (current Jacka Managing Director) to become Managing Director of Tangiers upon completion The Board of Directors of the combined entity will initially comprise three nominees from Tangiers and two nominees from Jacka The Board of Directors of Jacka unanimously recommends to Jacka shareholders that they accept the Offer, in the absence of a superior proposal (1) Based on the closing price of Tangiers shares, 29 November The implied value of the Offer will change with fluctuations in the Tangiers share price. 2
3 Transaction Rationale Creation of a premier small to mid-cap African focused upstream oil & gas company Exposure to African basins Diversified portfolio Experienced Board Strengthened balance sheet & enhanced scale ASX & AIM listing The combined entity will possess a portfolio of highly prospective exploration, appraisal and development acreage in Morocco, Tunisia, Nigeria, Somaliland and Tanzania Drill-ready high-impact exploration and appraisal drilling planned for 2014 including the TAO-1 exploration well in the Tarfaya block in Morocco, and the drilling and testing of Hammamet West 3 side-track 2 (HW3-ST2) in Tunisia (1) A balanced portfolio of low risk, moderate reward development and production opportunities with higher risk, large exploration potential A mix of onshore and offshore African acreage with strong partners and material working interests A wealth of E&P experience, including Africa, and a track record in creating shareholder value The Board of the combined entity will initially comprise three nominees from Tangiers and two nominees from Jacka Strong financial position with pro-forma cash of approximately $8m (2) and a further US$22.5m (3) expected to flow in from executed farm-in agreements relating to Tangiers Tarfaya Project and Jacka s Odewayne Project Carried for work programs and drilling for both Tarfaya and Odewayne blocks Access to both Australian and European investors through dual ASX and AIM listings Headquartered in Perth, Australia (1) See slides 13 and 18 for resource volume descriptions (2) As at 29 November 2013 (3) Tarfaya farmout US$10.5m and Odewayne farmout US$12m 3
4 Exposure to African Basins Accelerated growth through a combined and diversified portfolio of frontier exploration together with near-term appraisal and development opportunities Africa 1 Australia Head Office 3 6 Diagram Key 2 Appraisal / Development Exploration Diversified Asset Portfolio TARFAYA BLOCK, MOROCCO (25%) (1), OFFSHORE Tangiers is carried for the first well planned to be drilled Q following completion of a farm-out to Galp Energia (50% and operator). The farm-out includes US$7.5m of cost re-imbursements and an additional US$3m bond to be repaid upon final Ministerial approval. BARGOU BLOCK, TUNISIA (15%) OFFSHORE The Hammamet West oil field contains a pre-drill estimate of 16.7 MMbbl net 2C Contingent Resources (2). The offshore Hammamet West-3 well (HW-3) recently flowed liquids from open fractures at 1,290 bpd prior to blockages. JV to re-enter HW3 and test in H with second side-track (HW3-ST2). AJE FIELD, NIGERIA (5% NET REVENUE INTEREST) OFFSHORE Phase 1 field development plan due early Field proven and derisked with four wells drilled to date having encountered hydrocarbons. Contains an estimated 10.5 MMboe net 2C Contingent Resources (2) ODEWAYNE BLOCK, SOMALILAND (15%), ONSHORE The block has numerous oil seeps indicating an active hydrocarbon system. Regional studies suggest the area contains sedimentary basin analogous to the multi-billion barrel producing basins in Yemen. The combined entity will have a 15% interest (and option to acquire further 5% interest) with a free carry on a minimum work program (operated by Genel) over the next two exploration terms estimated to cost US$50m RUHUHU BLOCK, TANZANIA (100%), ONSHORE Underexplored East African rift basin in SW of Tanzania adjacent to Lake Nyasa. East African Rift system holds significant oil discoveries in Uganda and Kenya. Potential for material exploration upside. Near-term work program to include airborne geophysical and 2D seismic survey. AUSTRALIAN ASSETS, (15-90%), OFFSHORE WA-399-P (Exmouth Basin), WA-442-P & NT/P81 (Bonaparte Basin), NT/P83 Legacy assets, non-core (1) Subject to Moroccan joint Ministerial order approval, (2) Jacka Investor Presentation (8 November 2013), see slide 18. 4
5 Indicative Work Plan The combined work plan consists of multiple operations from high-impact exploration to near-term appraisal and development activities Activity Area Q H H Morocco Tarfaya Well Planning Drill TAO-1 Somaliland Odewayne Acquire 2D seismic Tunisia HW Appraisal Well Planning Drill HW3-ST2 Nigeria Aje Development Development Decision Well Planning Drill Aje-5 Tanzania Ruhuhu Basin Airborne Gravity Acquire 2D Seismic 5
6 Experienced Board The Board of Directors of the combined entity will comprise three nominees from Tangiers and two nominees from Jacka Eve Howell (1) Executive Chairman Bob Cassie Managing Director Brent Villemarette Executive Director Scott Spencer Non-Executive Director Max de Vietri (1) Non-Executive Director Ms Howell is an experienced explorationist, executive and company director having worked over 40 years in the oil and gas industry. Previously she was Executive Vice President Northwest Shelf for Woodside as well as CEO of the North West Shelf Project (Australia s largest resource project) and held senior roles in exploration and business development and as Managing Director of Apache s Australian region. Mr Cassie has more than 30 years technical, commercial and management experience in exploration, appraisal and development of O&G assets, having worked for Hardman Resources, Tap Oil, Mobil and Ampolex. He has significant experience in Asia and Africa and led Hardman s Uganda exploration project to first discovery. Mr Villemarette is a reservoir engineer with more than 30 years experience in the international oil and gas industry. He is presently Chief Operations Officer for Transerv Energy. Mr Spencer spent nearly 20 years working on international political and economic issues with the Australian Government. From 1994 he was a Director of Hardman Resources, where he worked extensively on the establishment of Hardman's successful international exploration portfolio until the $A1.5 bn takeover of Hardman by Tullow Oil in Mr de Vietri has over 39 years of international exploration experience and has been instrumental in finding and promoting the evaluation of significant hydrocarbon and mineral discoveries. (1) Following completion there will be a three month period during which Eve Howell will transition to Non-Executive Chairman. Max de Vietri is also likely to move off the Board to be replaced by a new Non Executive Director to be nominated by Tangiers. 6
7 Strengthened Balance Sheet Well fundedfor multiple high-impact drilling events throughout 2014 (HW3-ST2 appraisal and TAO-1 exploration wells) Cash Proforma Balance Sheet (estimate as at 29 Nov 2013) A$m Tangier 6.1 Jacka 1.9 Total Cash Available 8.0 Debt Tangier Nil Jacka 1.7 Total Debt 1.7 Net Cash (pro forma) 6.3 Jacka Interim Funding Tangiers has agreed to provide Jacka with a $2.5m loan facility to assist Jacka s funding in Q Interest is payable at 12% p.a. on amounts drawn down under the loan facility Tangiers will have a contractual commitment over the future proceeds from the Sterling farmout in respect to Odewayne, up to the amount drawn down under the loan facility Expected Cash Inflows (1) US$m Tangier 10.5 Jacka 12.0 Total Expected Inflows 22.5 (1) Relating to cash receipts as agreed in farm-in agreements for Tarfaya and Odewayne 7
8 Enhanced Scale The combined entity will benefit from enhanced scale (liquidity, coverage, institutional reach) ASX-Listed Peer African Focused Companies (A$m market cap) FAR Ltd Tangiers Petroleum (pro forma) Pancontinental Oil & Gas NL Pura Vida Ltd Tangiers Petroluem (current) Rialto Energy Ltd Swala Energy Ltd Jacka Resources Ltd (current) WHL Energy Ltd Source: IRESS (as at 3 December 2013) 8
9 Key Metrics Transaction Metrics (as at 29 November 2013) Current TPT shares outstanding (m) 175 Implied TPT equity valuation (A$m) 41 Implied JKA equity valuation (A$m) 37 Pro forma equity valuation (A$m) 78 TPT ownership 53% JKA ownership 47% TPT shares to be issued to JKA (m) 157 Offer ratio (TPT shares per JKA share) Pro forma shares on issue (m) 332 Pro forma market cap (A$m) 78 Pro forma cash (A$m) 8 Pro forma debt (A$m) 2 Pro forma EV (A$m) 72 Offer Summary (1) Under the takeover bid, Tangiers is offering Tangiers shares for every Jacka share held The Offer ratio implies a value of $0.112 per Jacka share based on the closing price of Tangiers shares on 29 November 2013, and represents: a 56% premium to Jacka s last closing price $0.072 based on Tangiers last closing price of $0.24 on 29 November 2013 a 53% premium to Jacka s 1 month VWAP of $0.0763, based on Tangiers 1 month VWAP of $ Upon successful completion of the transaction, existing Tangiers shareholders and Jacka shareholders will own approximately 53% and 47%, respectively (on an undiluted basis), of the issued ordinary shares of the combined entity. (1) The implied value of the Offer will change with fluctuations in the Tangiers share price 9
10 Indicative Timetable Announcement 5 December 2013 Bidder s Statement & Target s Statement expected to be lodged 20 January 2014 Offer period commences 4 February
11 Further Information TANGIERS PETROLEUM LTD JACKA RESOURCES LTD Eve Howell, Executive Chairman Bob Cassie, Managing Director Tangiers Petroleum Ltd Jacka Resources Ltd Mark Hinsley John Raston Foster Stockbroking Miro Advisors Paul Armstrong Colin Hay Read Corporate Professional Public Relations
12 Appendix Asset Summaries
13 Morocco Tarfaya Block High impact prospective acreage with 25% (1) equity Large block size: 11,282 km 2 Located in an area of recent global interest and high level of planned drilling activity Favourable fiscal terms Major company JV partner Galp Energia (Operator) Jurassic carbonate play fairway Proven petroleum system: Cap Juby Oil Field MO-2 flowed 2,377 bbl/d 12 deg API oil MO-8 discovered light oil 38.5 deg API oil Hydrocarbon discoveries in conjugate offshore basin offshore Nova Scotia Four drillable prospects Trident, Assaka, TMA, La Dam Funded exploration program Exploration well TAO-1 to be drilled H1 2014: Primary target Trident Secondary Assaka and potentially TMA Additional potential in the Triassic, Cretaceous & Tertiary Net Prospective Resources - Unrisked (MMbbl) (2) Prospect Low Estimate Best Estimate High Estimate Trident TMA Assaka La Dam U, M & L Jurassic Note: 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. (1) Subject to Moroccan joint Ministerial order approval (2) Independently assessed by Netherland, Sewell and Associates (1 May 2011), Tangiers Presentation (4 September 2013), refer to slide 18 for further information 13
14 Tunisia Bargou Block Large block 4,616 km 2 Equity 15% Near term field appraisal plus exploration leads and prospects Low cost shallow water development Hammamet West (HW) oil field Areal extent: 205 km 2, defined on 3D seismic 4 way dip closure with stacked objectives 16.7 MMbbl (net) 2C Contingent Resources (1) Analogous to Maamoura oil field (ENI) producing from Abiod formation 12km south Oil proven in structure HW-1 (1967): 8 metres of oil in the Birsa formation, + 30 metres of hydrocarbons in the Ain Grab/Fortuna formations HW-2 (1990): 3 zones of movable oil over a 192 metre section in the Abiod formation HW3-ST1 (2013): intersected extensive open fracture zones in the Abiod reservoir. Flow rate from fractured limestone reservoir of 1,290 bpd Recovered 38 deg API oil to surface. Re-enter to drill and test HW3-ST2 in H Additional Prospectivity: Several large untested independent structures for exploration follow up predominantly in the South of the block Potential near field tiebacks to Hammamet West Oil Field (1) Jacka Presentation (8 November 2013), see slide 18 14
15 Nigeria OML 113 Aje Field West African Transform Margin prolific petroleum fairway e.g. Jubilee Aje Field: 5% net revenue interest near term development opportunity full 3D seismic coverage 4 wells drilled on Aje structure 3 intersected commercial hydrocarbons Initial oil phase of subsequent full field development JV aligned on an oil first strategy H drill and complete Aje-5 Significant untested potential in OML 113: new synrift stratigraphic play identified in neighbouring block, OGO-1 ST/1 net stacked pay / 40 deg API oil, condensate Image Courtesy Panoro Energy 15
16 Somaliland Odewayne Block Frontier acreage - billion barrel potential Equity 15% (option on additional 5%) Large block 22,000 km 2 Active exploration program fully funded through to May ,000 km 2 airborne gravity / magnetic acquisition 1,500km 2D seismic 2014 drilling program planned 2015 Experienced Operator Genel Multiple onshore oil seeps indicate an active charge system, possible light oil/ condensate Formerly contiguous with prolific rift basins in Yemen 2.8 billion barrels oil produced (1) common structural history and petroleum system play fairway potential confirmed in Odewayne by recently acquired gravity & magnetic survey *Resource sizes taken from the websites of DNO, Genel and SW Energy (1) CIA Fact Book,
17 Tanzania Ruhuhu Basin Early stage exploration block East Africa now highly attractive and sought after since onshore discoveries in Uganda, Kenya, offshore Tanzania, Mozambique 100% equity and Operator Four year term Large block: 10,343 km 2 Conventional plays (Ruhuhu West) hydrocarbons in Lake Nyasa basin sediment samples indicate potential for modern oil/ gas charge system potential migration pathways toward western Ruhuhu Karoo traps Unconventional plays (Ruhuhu East) large coal seam gas and shale gas play Near term activity seep studies airborne gravity Lake Nyasa seismic reprocessing Potential farmout project as the prospectivity is matured 17
18 Petroleum Resources Net Contingent Resources Asset (Location) Interest Unit Net Contingent Resource Evaluator (Evaluation Date) 1C 2C 3C Estimation Method Bargou Block (Tunisia) (1) 15% MMbbl Operator (2011) Probabilistic Aje Field (2) (Nigeria) 5% MMboe Operator (2011) Probabilistic Previous Announcement Jacka AGM Presentation (8 November 2013) Jacka Company Update (June 2011) Jacka AGM Presentation (8 November 2013) Net Prospective (3) Resources (MMbbl) Asset (Location) Tarfaya (Morocco) Interest Prospect Net Prospective Resources (Unrisked) Evaluator Low Best High (Evaluation Date) Estimate Estimate Estimate 25% (4) Trident Netherland, Sewell TMA & Associates (2011) Assaka La Dam U, M & L Jurassic Estimation Method Probabilistic Previous Announcement Tangiers Investor Presentation (4 September 2013) (1) Including both Birsa and Abiod formations. Volume estimates were calculated prior to the drilling of the recently completed HW3 well. (2) SCF to BOE conversion: 5.7scf = 1bbl oil equivalent. Aje interest is a net revenue interest. (3) 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. (4) Subject to Moroccan joint Ministerial order approval 18
19 Petroleum Resources Qualified Petroleum Reserves and Resources Evaluator: This report is based on, and fairly represents, information and supporting documentation prepared by, or under the supervision of the qualified petroleum reserves and resources evaluators described below. Persons compiling information about Hydrocarbons Jacka Resources: Pursuant to the requirements of the ASX Listing Rules Chapter 5, the technical information and resource reporting provided in this presentation is based on and fairly represents information and supporting documentation that has been prepared and/or compiled by Justyn Wood, Technical Director of Jacka Resources Limited. Mr Wood is a qualified geophysicist with 20 years technical, commercial and management experience in exploration for, appraisal and development of oil and gas resources. Mr Wood has reviewed the results, procedures and data contained in this announcement. Mr Wood consents to the inclusion in this announcement of the matters based on the information in the form and context in which it appears. Mr. Wood is a member of the AAPG and SEG. Tangiers Petroleum: Pursuant to the requirements of the ASX Listing Rules Chapter 5, the technical information and resource reporting provided in this company update is based on and fairly represents information and supporting documentation that has been prepared and/or compiled by Brent Villemarette, Executive Director of Tangiers Petroleum Ltd. Mr Villemarette is a reservoir engineer with over 30 years experience in both domestic and international oil and gas industry. Mr Villemarette consents to the inclusion in this announcement of the matters based on the information in the form and context in which it appears. Mr Villemarette is a member of SPE. 19
20 Disclaimer This presentation has been prepared by Tangiers Petroleum Limited (Tangiers) and Jacka Resources Limited (Jacka). Summary of information: This presentation contains general and background information about Tangiers and Jacka s activities current as at the date of the presentation and should not be considered to be comprehensive or to comprise all the information that an investor should consider when making an investment decision. The information is provided in summary form, has not been independently verified, and should not be considered to be comprehensive or complete. Neither of Tangiers or Jacka is responsible for providing updated information and assumes no responsibility to do so. Disclaimer: Each of Tangiers and Jacka and their related bodies corporate, and each of their respective directors, agents, officers, employees and advisers, expressly disclaim to the maximum extent permitted by law all liabilities (however caused, including negligence) in respect of, make no representations regarding, and take no responsibility for, any part of this presentation and make no representation or warranty as to the currency, accuracy, reliability or completeness of any information, statements, opinions, conclusions or representations contained in this presentation. In particular, this presentation does not constitute, and shall not be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Tangiers or Jacka or the combined entity if the transaction the subject of the presentation is successful. Forward looking statements: This presentation includes both information that is historical in character and information that consists of forward looking statements. Forward looking statements are based on current expectations of future results or events. The forward looking statements are subject to risks, uncertainties and assumptions which could cause actual results, timing, or events to differ materially from the expectations described in such forward looking statements. Those risks and uncertainties include factors and risks which are outside of Tangiers and Jacka s control, including factors and risks that are specific to the petroleum industry as well as matters such as general economic conditions. While Tangiers and Jacka believe that the expectations reflected in the forward looking statements in this presentation are reasonable, neither Tangiers nor Jacka nor any of their respective directors or any other person named in the presentation can provide any assurance that such expectations will prove to be correct or that implied results will be achieved. These forward looking statements do not constitute any representation as to future performance and should not be relied upon as financial advice of any nature. Any forward looking statement contained in this document is qualified by this cautionary statement. Not financial product advice: This presentation is not financial product, investment advice or a recommendation to acquire Tangiers or Jacka securities, and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. Neither of Tangiers or Jacka is licensed to provide financial product advice in respect of its securities or any other financial products. Each of Tangiers and Jacka assume that the recipient is capable of making its own independent assessment, without reliance on this document, of all publicly available information and any potential investment and will conduct its own investigation. Monetary values: Unless otherwise stated, all dollar values are in Australian dollars (A$). The information in this presentation remains subject to change without notice. 20
Jacka Resources Limited Appoints Managing Director
5 November 2013 Jacka Resources Limited Appoints Managing Director Jacka Resources Limited (ASX: JKA) ( Jacka or the Company ) is today pleased to announce the appointment of Mr Bob Cassie as Managing
More informationJacka Resources Limited ( Jacka or the Company ) is pleased to provide the following activities report for the quarter ending 31 December 2014.
30 January 2015 Quarterly Activities Report Jacka Resources Limited ( Jacka or the Company ) is pleased to provide the following activities report for the ending 31 December 2014. Key highlights during
More informationJacka Resources Ltd (JKA)
Jacka Resources Ltd (JKA) RECOMMENDATION Speculative Buy 12 month price target 12 month volume 12 month share low 12 month share high ISSUED CAPITAL ASX Share price Mkt cap1 Ordinary shares on issue Escrowed
More informationGenel Energy to farmin to Odewayne Block, Somaliland
12 November 2012 ASX Release Key Highlights: Genel Energy to farmin to Odewayne Block, Somaliland Odewayne Farmout Agreement signed with Genel Energy Jacka to be free carried by Genel on a substantial
More informationISSUE 42 5th October, 2011
ISSUE 42 5th October, 2011 1 Jacka Resources (JKA) Spec Buy around $0.125 Oil explorer with stakes in highly prospective projects of varying maturity in Africa and Australia. Along with an upcoming well
More informationUnlocking offshore Senegal. Africa Oil Week 26 October 2015
Unlocking offshore Senegal Africa Oil Week 26 October 2015 Who is FAR? Australian listed oil company: 8th largest E&P on ASX Africa focused: Senegal, Guinea Bissau, Kenya and Australia Offshore Senegal:
More informationOil Barrel. 10 May 2012
Oil Barrel 10 May 2012 Two potentially world class oil & gas exploration projects offering outstanding leverage to exploration success Disclaimer The information contained in these slides has been prepared
More informationFor personal use only
Investor Presentation Noosa Mining & Exploration Conference 16-17 July 2015 FAR snapshot Mid cap E&P: FAR entered the ASX 300 Index in March 2015 Strong balance sheet. Cash balance A$52.5m (March qtr).
More informationInvestor Presentation. March 2014
Investor Presentation March 2014 Corporate Snapshot CAPITAL STRUCTURE Issued Capital Ordinary Shares (ASX:PVD) 126.6m Unquoted securities 38.0m Market Capitalisation Undiluted (at $0.50/share) $63.4m Fully
More informationInvestor Presentation. July 2016
Investor Presentation July 2016 Disclaimer This presentation may contain certain statements and projections provided by or on behalf of Pilot Energy Ltd (PGY) with respect to the anticipated future undertakings.
More informationFor personal use only
INTERPOSE TO ACQUIRE AN 80% INTEREST IN ZIMBABWE GAS-CONDENSATE EXPLORATION PROJECT ASX ANNOUNCEMENT 18 April 2018 HIGHLIGHTS Interpose to acquire an 80% interest in 250,000 acres in Cabora Bassa Basin,
More informationAfrica Oil & Gas Conference Australia September 2016
Africa Oil & Gas Conference Australia September 2016 1 Disclaimer These materials are strictly confidential and are being supplied to you solely for your information and should not be reproduced in any
More informationHighlights. Projects update. RSSD Project Senegal
01 July 30 September 2017 Highlights Hydrocarbons discovered in SNE North-1 well in at least 3 separate intervals The Gambian Government approves acquisition of 80% stake in Blocks A2 & A5 FAR awarded
More informationKaroon. Investor Review. May 2018
Karoon Investor Review May 2018 Disclaimer This presentation has been prepared by. The information contained in this presentation is for information purposes only and does not constitute an offer to issue,
More informationInvestor Presentation May 2015 ERINENERGY.COM
Investor Presentation May 2015 Cautionary Language Regarding Forward-Looking Statements and Other Matters This presentation contains forward-looking statements within the meaning of Section 27A of the
More informationInvestor Presentation. A New Direction- Cooper Basin. September 2009
Investor Presentation A New Direction- Cooper Basin September 2009 Legal Disclaimer! This document has been prepared by Monitor Energy Limited for the purpose of providing a company and technical overview
More informationFY13 Annual Results FY14 Outlook. 29 August 2013
FY13 Annual Results FY14 Outlook 29 August 2013 Important Notice Disclaimer The information in this presentation: Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy
More informationReport on Activities for the Quarter ended 31 December 2017
31 January 2018 QUARTERLY REPORT Report on Activities for the Quarter ended 31 December 2017 The Directors of 88 Energy Limited ( 88 Energy or the Company, ASX & AIM:88E) provide the following report for
More informationFor personal use only
Presentation to Annual General Meeting Iain Smith, Managing Director 28 February 2017 Disclaimer This presentation may contain certain statements and projections provided by or on behalf of Pilot Energy
More informationProactive Investors Presentation March 2017
Transformational Growth Through Exploration Proactive Investors Presentation Morocco Brazil Namibia South Atlantic 100 Ma Reconstruction Growth through Exploration 1 Disclaimer and forward looking statements
More informationA NEW DIRECTION. March
A NEW DIRECTION March 2015 www.redemperorresources.com 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
More informationThe information in this presentation: Qualified petroleum reserves and resources evaluator. Rounding
2 April 2014 The information in this presentation: Is not an offer or recommendation to purchase or subscribe for shares in Cooper Energy Limited or to retain or sell any shares that are currently held.
More informationThe Gambia FAR s next frontier. Oil & Gas Council Africa Assembly Paris June 2018
The Gambia FAR s next frontier Oil & Gas Council Africa Assembly Paris June 2018 FAR in the MSGBC Basin The Mauritania-Senegal-Guinea-Bissau-Conakry Basin has emerged as a global hotspot for oil and gas
More informationFor personal use only. Drillsearch Energy. Takeover offer for Acer Energy. 4 October 2012
Drillsearch Energy Takeover offer for Acer Energy 4 October 2012 Agenda 2 1. Overview of the Offer 2. Why Acer shareholders should accept the offer 3. Transaction rationale 4. Combined group 5. Funding
More informationFor personal use only
An outstanding African success story Investor update presentation March 2015 Our company Two world class discoveries in FAN-1 and SNE-1 wells offshore Senegal Appraisal planning underway Net cash at end
More informationINTERIM MANAGEMENT STATEMENT
9 November 2015 INTERIM MANAGEMENT STATEMENT Sterling Energy plc (the Company ) together with its subsidiary undertakings (the Group ) is today issuing its Interim Management Statement and financial results
More information88 Energy Limited. Term Sheet Executed to Drill Large Oil Prospect 1Q 2019
25 th June 2018 88 Energy Limited Term Sheet Executed to Drill Large Oil Prospect 1Q 2019 88 Energy Limited (ASX: 88E) ( 88 Energy or the Company ) is pleased to announce the following update in relation
More informationFor personal use only
An outstanding African success story Investor Presentation November 2014 Our company Success in first two wells drilled offshore Senegal Both wells discovered significant oil deposits Both discoveries
More informationFor personal use only
Level 2 47 Stirling Highway Nedlands WA 6009 T: + 61 (08) 6389 0322 F: + 61 (08) 6389 0697 investors@keypetroleum.com.au QUARTERLY REPORT FOR THE PERIOD ENDED 31 MARCH 2016 ACN 120 580 618 2 UPDATE ON
More information2016 the year of Answers. David Casey, Managing Director
2016 the year of Answers David Casey, Managing Director January 2016 1 Disclaimer Important Notice This presentation does not constitute investment advice. Neither this presentation nor the information
More informationFor personal use only
Pura Vida Energy NL ACN 150 624 169 Interim report for the half-year ended CORPORATE DIRECTORY DIRECTORS Simon Eley, Chairman Damon Neaves, Director Nathan Lude, Non-Executive Director Richard Malcolm,
More informationFor personal use only
...Red Emperor to Drill Prolific Alaska North Slope... Alaska New Billion Barrel Fairway January 2019 www.redempresources.com 1 Disclaimer This presentation does not constitute an offer to sell securities
More informationUpdate Presentation January 2018
Update Presentation January 2018 Pancontinental has over the past 6 months: Secured funding for 2 wells in California. Both now gas discoveries being production tested. Brought in A$10 million of industry
More informationOTTO FARMS INTO EIGHT WELL GULF COAST DRILLING PROGRAM WITH HILCORP AND ANNOUNCES EQUITY RAISING
ASX ANNOUNCEMENT 31 July 2018 Not for distribution to US newswire services or distribution in the United States OTTO FARMS INTO EIGHT WELL GULF COAST DRILLING PROGRAM WITH HILCORP AND ANNOUNCES EQUITY
More informationCorporate Presentation
Corporate Presentation 13 September 2018 Investment Drivers Profitable oil producer Long life early stage oilfield Basin wide acreage position Current drilling program Commercial and portfolio strength
More informationRED EMPEROR EXECUTES DEFINITIVE AGREEMENTS FOR ALASKA ACQUISITION
30 July 2018 RED EMPEROR EXECUTES DEFINITIVE AGREEMENTS FOR ALASKA ACQUISITION BOARD & MANAGEMENT Mr Greg Bandy MANAGING DIRECTOR Mr Jason Bontempo NON-EXECUTIVE DIRECTOR The Board of Red Emperor Resources
More informationCOMPLETION OF ACQUISITION OF JUPITER PETROLEUM
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE: 26 AUGUST 2011 COMPLETION OF ACQUISITION OF JUPITER PETROLEUM Global Petroleum Limited ( Global or Company ) is pleased to announce that it has now completed
More informationForsyth Barr conference
Forsyth Barr conference 13 June 2016 Andrew Knight. Chief executive. Today Overview of our revenue and Strategy 01 production 02 03 Kupe growth 04 05 06 Costs Cue & International Our investment case New
More informationFor personal use only
AZONTO PETROLEUM Corporate Presentation October 2014 DISCLAIMER Certain statements contained in this presentation, including information as to the future financial or operating performance of Azonto Petroleum
More informationIncreasing Reserves and Infrastructure value in the Perth Basin
NOOSA MINING CONFERENCE July 2018 Increasing Reserves and Infrastructure value in the Perth Basin TRIANGLE ENERGY (GLOBAL) LTD (ASX:TEG) Triangle is the only oil producer and a lead player in the highly
More informationOil Production & Development ASX code: WEL Permian Basin - Texas - USA
Oil Production & Development ASX code: WEL Permian Basin - Texas - USA Australian junior taking on the Permian heavyweights RGN 2017 Disclaimer This document is for information purposes only. It is not
More informationFor personal use only QUARTERLY REPORT & APPENDIX 5B IПB DECEMBER 2014 IPB PETROLEUM LTD (ABN )
QUARTERLY REPORT & APPENDIX 5B IПB IPB PETROLEUM LTD (ABN 52 137 387 350) DECEMBER 2014 Date: 30 January 2015 IΠB IPB Petroleum 30 January 2015 (ASX CODE: IPB) DECEMBER 2014 QUARTERLY REPORT SUMMARY OF
More informationInvestor Presentation September 2011
Investor Presentation September 2011 DISCLAIMER This presentation has been prepared by Bass Strait Oil Company Ltd ( BAS or the Company ), with the purpose of providing general information about the Company.
More informationKaroon November Investor Review. November 2018
Karoon November Investor Review November 2018 Corporate Overview Karoon has a core exploration growth strategy, focused on large targets in proven petroleum systems. The Company is looking to complete
More informationCorporate Presentation. April Including 2014 results.
Corporate Presentation Including 2014 results April 2015 1 www.sterlingenergyplc.com Disclaimer This presentation has been prepared by, and is the sole responsibility of, the directors of Sterling Energy
More informationExpanding Scale and Opportunities
Expanding Scale and Opportunities CASH GENERATING OIL & GAS OPERATIONS WITH SIGNIFICANT EXPLORATION UPSIDE August 2018 DISCLAIMER No representation or warranty, expressed or implied, is made by Whitebark
More information2014 Energy Summit. Credit Suisse. February JON CAPPON Investor Relations
2014 Energy Summit JON CAPPON Investor Relations 214.445.9669 jcappon@kosmosenergy.com Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of
More informationASX Small to Mid Caps Conference
ASX Small to Mid Caps Conference Hong Kong 21 October 2010 Slide 0 ROC OIL COMPANY PROFILE ROC is an ASX-listed upstream oil and gas company 160 employees Asia-Australasia Focus Production assets 2P Reserves
More informationEarly entry advantage in the Indian unconventional energy market
ABN 50 078 652 632 Early entry advantage in the Indian unconventional energy market Oilex General Meeting September 2012 Important information Disclaimer The presentation in this projected form and as
More informationGood Oil Conference, Fremantle. September 2014
Good Oil Conference, Fremantle September 2014 Investment Highlights Strong performance driven by active exploration programs and successful acquisitions resulting in a quality portfolio spanning Morocco,
More informationSenex Energy agreed friendly merger with Stuart Petroleum. Ian Davies, Managing Director 21 February 2011
Senex Energy agreed friendly merger with Stuart Petroleum Ian Davies, Managing Director 21 February 2011 Summary of the Offer Senex Energy Limited (Senex) has reached agreement with Stuart Petroleum Limited
More informationRIU Good Oil Conference
Ian Davies, Managing Director and CEO Perth, 3 September 2015 Agenda Senex overview Market opportunity Oil and gas business Key takeaways 2 Senex overview We are a growth focused oil and gas exploration
More informationFor personal use only
Level 8, 225 St Georges Terrace Perth, Western Australia 6000 Telephone: + 61 8 9486 4036 Facsimile: + 61 8 9486 4799 ABN 83 061 375 442 www.agrienergy.com.au NORTH EAST AFRICAN OIL AND GAS ACQUISITION
More informationFor personal use only. six months to 31 December 2013
six months to 31 December 2013 Time: 10:30 AEDT Monday 17 February 2014 Toll-free Australia: 1800 123 296 Toll: + 61 2 8038 5221- (can be used if dialing from international location) Toll-free international
More informationDECEMBER 2018 QUARTERLY REPORT AND APPENDIX 5B
DECEMBER 2018 QUARTERLY REPORT AND APPENDIX 5B Highlights The Board of Directors appointed a new Independent Non-Executive Chairman, Mr Bruce Phillips. Shareholders approved the change of name from Karoon
More informationMERGER PRESENTATION JULY 2018
MERGER PRESENTATION JULY 2018 ASX: SPI ASX: EXG PAGE 1 1 CREATING A LEADING ASX-LISTED GOLD DEVELOPER The combined company, to be led by Managing Director Mr John Young, aims to fast-track the creation
More informationThe Gambia FAR s next frontier. Investor update March 2018
The Gambia FAR s next frontier Investor update March 2018 Our Company FAR Limited (FAR:ASX) Market cap A$421M 1 Strategic focus Mauritania-Senegal-Guinea-Bissau-Conakry (MSGBC) Basin, NW Africa 8 exploration
More informationReturn to Production & Unlocking Value
Return to Production & Unlocking Value Investor Presentation September 2014 ASX Code TAP This presentation contains some references to forward looking assumptions, representations, estimates, budgets,
More informationAnnual General Meeting 9 November 2018
Annual General Meeting 9 November 2018 DISCLAIMER & RESOURCE INFORMATION The resource estimates outlined in this report have been prepared by the Company s Chief Operating Officer, Mr Philip Huizenga,
More informationFor personal use only. Investor Update. David Casey, Managing Director
Investor Update David Casey, Managing Director August 2015 1 Company Information Key Assets Norte Basin, Uruguay - Targeting conventional and unconventional oil targets in Piedra Sola & Salto Concessions
More informationJUNE 2014 QUARTERLY REPORT AND APPENDIX 5B
JUNE 2014 QUARTERLY REPORT AND APPENDIX 5B Corporate Activity Highlights Up to US$800 million sale of Karoon s 40% interest in WA315P and WA398P to Origin. In addition, Origin is responsible for all costs
More informationPareto E&P Conference January 16, 2019
Pareto E&P Conference January 16, 2019 OSE Ticker PEN www.panoroenergy.com Corporate Presentation DISCLAIMER This presentation does not constitute an offer to buy or sell shares or other financial instruments
More informationFor personal use only
Dongara Pilot Energy Ltd ABN 86 115229 984 Level 2, 55 Carrington Street Nedlands WA 6009 Australia T: +61 8 9423 3200 Announcement to ASX 28 April, 2017 MARCH 2017 QUARTERLY ACTIVITIES REPORT & APPENDIX
More informationFor personal use only
ANNOUNCEMENT TO THE AUSTRALIAN SECURITIES EXCHANGE: 28 August 2013 Neon Energy Half-Year Results Neon Energy Limited (ASX: NEN) today announced its results for the six month period ended 2013 (1H13). Commenting
More informationASX Announcement 2015 Year End Reserves Review
EMPIRE ENERGY GROUP LIMITED Level 7, 151 Macquarie Street Sydney NSW 2000 T: 02 9251 1846 F: 02 9251 0244 (ASX: EEG) (OTCQX:EEGNY) ASX Announcement 2015 Year End Reserves Review 15 March 2016 2015 FULL
More informationJUNE 2018 QUARTERLY REPORT AND APPENDIX 5B
JUNE 2018 QUARTERLY REPORT AND APPENDIX 5B Significant Events During the quarter, the Final Discovery Evaluation Report ( RFAD ) relating to Santos Basin offshore Brazil Blocks S-M-1037, S-M-1101, S-M-1102,
More informationDNO International Corporate Presentation. September 2012
DNO International Corporate Presentation September 2012 DNO International 1 Three licenses in Kurdistan: Tawke (operator) Erbil (operator) Dohuk (operator) Reserves: 530 million boe P50 CWI 2 Five licenses
More informationFor personal use only
Investor Presentation May 2014 Investment Highlights Strong performance driven by active exploration programs and successful acquisitions resulting in a quality portfolio spanning Morocco, Gabon and Madagascar
More informationResults for the six months ending 30 June Cash as at 30 June 2016 of $92.5 million ($92.4 million net of partner funds), no debt.
28 July 2016 Sterling Energy plc Results for the six months ending 30 June 2016 Sterling Energy plc ( Sterling or the Company ), together with its subsidiary undertakings (the Group ), an upstream oil
More informationFor personal use only
29 January 2016 December 2015 Quarterly Report HIGHLIGHTS Canning Basin Victory1 well and Senagi1 well completed in Fitzroy Blocks Canning Basin new prospective resource estimation for Basin Centred Gas
More informationGaloc Oil Field Acquisition
ASX : OEL Galoc Oil Field Acquisition Matthew Allen, Acting Chief Executive Officer August 2011 Disclaimer This presentation does not constitute an offer to sell securities and is not a solicitation of
More information121 OIL AND GAS CONFERENCE
121 OIL AND GAS CONFERENCE Gulf of Mexico Shelf oil and gas producer and explorer John Jetter Chairman 1 May 2018 ASX : OEL 1 Disclaimer This presentation is provided for information purposes only and
More informationCORPORATE PRESENTATION January 2019
CORPORATE PRESENTATION January 2019 OSE Ticker PEN www.panoroenergy.com Corporate Presentation DISCLAIMER This presentation does not constitute an offer to buy or sell shares or other financial instruments
More informationOverview presentation. Tullow Oil plc OVERVIEW PRESENTATION January 2018
Tullow Oil plc OVERVIEW PRESENTATION January 2018 DISCLAIMER This presentation contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the
More informationCEO Presentation. Annual General Meeting. 15 th November, 2018
CEO Presentation Annual General Meeting 15 th November, 2018 Company Overview Company Data Listed 1998 Exchange ASX (Ticker MAY) 12 Month Share Price Performance Shares on issue Options/Rights Market Cap
More informationFor personal use only
17 March 2014 The Manager Company Announcements Australian Securities Exchange Limited Level 6, 20 Bridge Street Sydney NSW 2000 Via E lodgement Range Resources ( Range or the Company ) S708 Notice and
More informationHighlights. Summary. Balance sheet continues to strengthen. Debt balance now at US$6.1m, net debt US$0.1m
QUARTERLY REPORT For the Quarter Ended 31 March 2017 Balance sheet continues to strengthen Debt balance now at US$6.1m, net debt US$0.1m Highlights Tap continues to strengthen its balance sheet Net debt
More informationMANAGING DIRECTOR S ADDRESS
MANAGING DIRECTOR S ADDRESS Annual General Meeting of Shareholders of Cooper Energy Limited at The Traders Lounge, Hyatt Regency Hotel on Friday 9 November 2012 A lot has happened and a lot has changed
More informationEuroz Securities Rottnest Island Institutional Conference Presentation. 14 March 2017
Euroz Securities Rottnest Island Institutional Conference Presentation 14 March 2017 Disclaimer The Resource estimates outlined in this report have been prepared by the Company s Chief Operating Officer,
More informationMART RESOURCES: A Nigeria Marginal Field Case Study Mr. Wade Cherwayko (Chairman & CEO) Asia O&G Assembly, Hong Kong, 25 April 2013
MART RESOURCES: A Nigeria Marginal Field Case Study Mr. Wade Cherwayko (Chairman & CEO) Asia O&G Assembly, Hong Kong, 25 April 2013 1 Disclaimer Information Certain statements contained in this presentation
More informationFor personal use only
Release Date: 21 October 2014 ASX Announcement American Patriot strikes oil with first well Fort Peck 6-32 well IP s at 508bopd at the Lustre field, Montana American Patriot - oil producer less than 4
More informationAnnual General Meeting. 15 May 2015
Annual General Meeting 15 May 2015 FAR Senior management Cath Norman Managing Director BSc (Geophysics), AICD Over 20 years experience in the mineral and oil & gas exploration industry, having held executive
More informationMagellan Petroleum SEAAOC 2011 October 2011
Magellan Petroleum SEAAOC 2011 October 2011 Forward Looking Statements Statements in this presentation which are not historical in nature are intended to be, and are hereby identified as, forward-looking
More informationArrow Energy recommends acquisition by Shell / PetroChina Joint Venture following planned demerger
Investor Briefing 22 March 2010 Arrow Energy recommends acquisition by Shell / PetroChina Joint Venture following planned demerger Financial Advisors Legal Advisors Disclaimer and Important Notice This
More informationOil Production in the Perth Basin
Oil Production in the Perth Basin CORPORATE PRESENTATION Australian Energy & Battery Minerals Investor Conference March 2018 TRIANGLE ENERGY (GLOBAL) LTD (ASX:TEG) Triangle is the only oil producer and
More informationGROWTH THROUGH. Chariot Oil & Gas Limited. Annual Report and Accounts 2012
GROWTH THROUGH Exploration Chariot At a glance is an independent oil and gas exploration company focused offshore West Africa with a portfolio of assets located in the under-explored regions of See more
More informationFor personal use only
n those hours that c ed excepts on tho derson Lee prefers e s EMPIRE OIL & GAS NL 23 October 2015 The Manager Company Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY, NSW 2000
More informationADX Secures US$ 2 million investment to commence Romanian Appraisal Program
ASX Release 4 December 2017 ADX Secures US$ 2 million investment to commence Romanian Appraisal Program ADX Energy Ltd (ASX Code: ADX) is pleased to announce it has signed an agreement with Reabold Resources
More informationOil Capital Conference. Corporate Presentation. Building Value in the North Sea
Oil Capital Conference Corporate Presentation Building Value in the North Sea 11 th May 2017 Disclaimer The information contained in this document (the Corporate Presentation ) has been prepared by Jersey
More informationCorporate Presentation
Corporate Presentation January 2018 August 2015 1 Disclaimer This presentation has been prepared by, and is the sole responsibility of, the directors of Sterling Energy plc (the Company ). This presentation
More informationInvestor Presentation. October March AiM: SOLO
October 2009 21 March 2013 AiM: SOLO www.solooil.co.uk Disclaimer This presentation may contain forward-looking statements. Forward-looking statements refer to events and conditions which are not historical
More informationQuarterly Reports. Please find attached the following reports relating to the quarter ended 30 September 2011:
27 October 2011 NSX Announcement s Please find attached the following reports relating to the quarter ended 30 September 2011: Quarterly Disclosure Declaration; Quarterly Activities Report; and Quarterly
More informationSEPTEMBER 2018 QUARTERLY ACTIVITIES REPORT & APPENDIX 5B
Pilot Energy Ltd ABN 86 115229 984 Level 12, 225 George Street Sydney, NSW 2000, Australia T: +61 2 8016 2819 www.pilotenergy.com.au Announcement to ASX 26 October, 2018 SEPTEMBER 2018 QUARTERLY ACTIVITIES
More information2014 half-year results briefing. Peter Coleman CEO and Managing Director 20 August 2014
2014 half-year results briefing Peter Coleman CEO and Managing Director 20 August 2014 Disclaimer and important notice This presentation contains forward looking statements that are subject to risk factors
More informationQUARTERLY REPORT. for the Quarter Ended 30 September 2012
QUARTERLY REPORT for the Quarter Ended 30 September 2012 Highlights Oil production of 104,056 barrels: constrained by transport capacity and expected to increase to over 1,500 barrels/day (Cooper share)
More informationFor personal use only
EMPIRE OIL & GAS NL Quarterly Report June 2017 It is not the number of hours in the working day that s important work that gets achieved in those hours that concerns Anderson L Overtime is not encouraged
More informationCorporate and Operational Review
Karoon Gas Australia Ltd Corporate and Operational Review Annual General Meeting, 2014 Queiroz Galvão Olinda Star Semi Submersible Drilling Rig Chairman s Address Robert Hosking, Executive Chairman 2 Total
More informationInvestor Presentation March Highly leveraged oil producer and explorer
Investor Presentation March 2017 Highly leveraged oil producer and explorer DISCLAIMER AND FORWARD LOOKING STATEMENTS This Presentation is provided on the basis that Triangle Energy (Global) Limited (
More informationReport for quarter ended 30 September 2012
Report for quarter ended 30 September 2012 The third quarter of 2012 has seen the delivery of positive results on a number of fronts ensuring a strong performance in the market. Importantly, the combination
More informationSantos increases 2P reserves to 1,406 million barrels 180% 2P reserves replacement GLNG dedicated 2P reserves up 12% to 6,721 PJ
Media enquiries Investor enquiries Chandran Vigneswaran Andrew Nairn +61 8 8116 5856 / +61 (0) 467 775 055 +61 8 8116 5314 / +61 (0) 437 166 497 chandran.vigneswaran@santos.com andrew.nairn@santos.com
More information