O & GBounty Oil & Gas NLCEO PresentationCEO Presentation
AGM 2008Philip F Kelso
ASX Code: BUY
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2008- Bounty’s First Exploration Hit !Exploration Hit !
• Reserves: 1.14 million barrels of 2P producing reserves
• New gas discovery: Kiliwani North (Tanzania) adjacent to infrastructure and market; tested 40 jmillion cfg/d, potentially adding 1.7 MMboe to Bounty’s reserves
• New Team: focussed on Bounty alone• New Prospects: PEP 11 Sydney Basin partners• New Prospects: PEP 11 Sydney Basin partners
announce structure with potential to host 9 Tcf gasgasFor
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What’s in Store for 2009
• Nyuni Block (Tanzania):– Expecting to achieve gas sales in late 2009
Possible appraisal drilling at Kiliwani North– Possible appraisal drilling at Kiliwani North– Planning for new seismic surveys in the Block,– leading to 2 new exploration wells in 2009/10 aimed at targets
totalling 1 Tcf gas• Bounty revenue:
– Anticipated to move to + $ 1 million pa by end 2009– Anticipated to move to + $ 1 million pa by end 2009• Oil development Utopia:
– Reservoir studies seismic and drilling to develop this largeReservoir studies, seismic and drilling to develop this large Murta oil pool further
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The TeamBoard• Graham Reveleigh (Chairman) – Geologist 42 years experience in
resources• Chuck Ross (NED) – Businessman - 35 years experience inChuck Ross (NED) Businessman 35 years experience in
resources and corporate finance• Gary Higginbotham (NED) – Accountant 44 years experience
fi i l d t tifinancial and tax accounting• Michael Hutt (Company Secretary) – Accountant 47 years
experience in corporate finance and resources company secretarialp p p y
Management• Philip Kelso (CEO) – Geologist and Lawyer 42 years experience in
upstream petroleum, resources. Track record of building reserves. • Malcolm Lennox (Exploration Manager) – Geologist 39 years
experience in resourcesexperience in resourcesFor
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Projectsj
Nyuni Block 30-50 Bcf commercial gas discovery, 11 Leads and Prospects with 1 Tcf potential11 Leads and Prospects with 1 Tcf potential
AC/P 32 Large Stratigraphic plays
WA 324 P Fishburn ~50 Bcf gas Leads and Prospects tototal 1 Tcf gas potential
Carnarvon Basin Onshore 2 wells 2009, 2-3 Mmbo and 50 Bcf gas targets
Utopia Oil Field 2-3 MMbo recoverableUtopia Oil Field 2-3 MMbo recoverableSignificant development upside
PEP 11 very large leads up to 9 Tcf gas potential.Adjacent to largest gas market
OilGasExploration
Adjacent to largest gas market
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TanzaniaMwanza
A h Nyuni Block BUY – 5% WIShinyanga
ArushaMoshi
Nyuni Block BUY – 5% WI
• Electricity demand growing by 10% pay p
• Gas used for power generation, cement and growing industrial consumer base
Lake Tangan
Dar es Salaam
Morogoro
Dodoma • Nyuni Block has contractual access to gas plant and pipeline
• Kiliwani North 1 and Nyuni anyanika
L. Rukwa
Mbeya
SongoSongo
Nyuni Block
y1 new gas discoveries
Lak Mnazi Bay
QuaternaryTertiary VolcanicsMesozoic Sediments ake M
alawi
MtwaraSongea
Tunduru
Karoo Palaeozoic SedimentsProterozoic Low Grade MetamorphicsProterozoic High Grade MetamorphicsArchaean
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Nyuni Block B W Development: 2009 –
2010NyuniNyuni West N i E t
Bewara West Bewara East
2010Seismic and two wells to develop the following leads:
Nyuni West Nyuni East
Aminag
EUR BcfBawara West 278Nyuni West 172
Songo Songo East
Songo Songo Kiliwani North
To Dar es Salaam
Fanjove South 168Songo Songo East 147Bawarra East 72
Songo Songo South
Songo Songo Kiliwani North
Fanjove North
All Others 317Total 1,184Fanjove South
Gas Accumulation
Deep South
0 5 10
Kilometres
Section Songo Songo to Nyuni (after Isis Petroleum Consultants Pty Ltd)
Gas AccumulationLeadExploration BlockDevelopment BlockGas Pipeline2008/09 New Seismic Acquisition
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Nyuni Block - Summary of Prospect Sizes
Nyuni Structural LeadsP50 mean, unrisked, GIIP
Lead Name Neocomian Structural Leads Only
Structural Leads at all levels
(Neocomian, Aptian-Albian,Top Cretaceous and Base EoceneCretaceous and Base Eocene
Gas BCF (GIIP) Oil Mmboe Total Gas Bcf (GIIP)
Total Oil Mmboe
Songo Songo South 37 6 54 9
Fanjove 275 46 358 60Nyuni West 15 3
830 138Nyuni East 57 10Okuza 320 53Others 69 12 103 18Kili ani North Disco er Under Appraisal Under AppraisalKiliwani North Discovery Under Appraisal Under Appraisal
Total 773 130 1,345 225
Bounty Oil & Gas NL-5% yworking interest 38.65 6.5 67.25 11.25
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Kiliwani North Commercialisation
• 70 metre gas column• GWC at least 35
metres below Songo Songo
• New pool
• South of Songo Songo • Only 6 km from Songas plantSouth of Songo Songo Gas field
• Large Cretaceous Structure
Only 6 km from Songas plant and pipeline to Dar es Salaam
• Growing industrial demand for gas and for electricity from
• Well tested 40 MMcfg/d gold mining industry
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AC/P 32 Vulcan Sub-BasinCassini
ChallisSwan
Puffin AC/L 3
AC/P 21
P 22
AC/P 32AC/L 6
AC 07-3
SkuaTalbot
Puffin
RL 1
P 22
AC/P 32
/P 3
4
AC/L 8
Wisteria 1
Hibiscus
Gardenia
Montara
AC/L 7
AC/
AC 08-5
AC 08-6
Oil FieldGas Field
Camelia
Fuschia
Updip Longleat
CruxAC/P 34 AC/P 41
Structural ProspectStratigraphic Prospect
0 25 50
Kilometres Hibiscus Lead Channel
AC/P 23
Wisteria 1 driiled in September this year failed to find hydrocarbonsfailed to find hydrocarbons
Hibiscus is the remaining large untested lead presenting a 100 MMbo target for explorationpresenting a 100 MMbo target for exploration
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Onshore Carnarvon BasinOnshore Carnarvon Basin
EP 325 (1)
L 9
359
(1)
EP 325 (2) Tubridgi
Rivoli
EP 435 (BUY 10%), EP (412 BUY 65%)
• Along trend from proven hydrocarbons at Rivoli and Rough Range
EP 4
33
EP 444
Rough Range
• Operator scheduled 2 wells for 2009 in two of these three prospects:-
h bill 0 f
434
EP 359 (2)
EP 412EP 435
Rough RangePindan
Thornbill 50 BcfSandalwood South 3‐5 MMboBee Eater 2 ~2 MMbo
EP
4
EP 434
EP
359
(3)
04-5 LBee Eater Oil Field
Gas FieldProspectGas Pipeline
Pindan
Gearle Siltstone
Bee Easter type prospectSchematic
359 (3)
SandalwoodSouth
Thornbill
Gearle Siltstone
Windalia Radiolarite
Muderong Shale
EP 412
0 10 20Kilometres
Birdrong Sandstone
Trap
Oil migration -
inception post fault
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WA-324-P Bonaparte BasinFishburn BlockFishburn Block
Fishburn Deep
PetrelWA-6-R
WA 376 P
WA-405-P
Fishburn Deep
DolphinLead A
Bottlenose Tern
Fishburn 1
WA-18-P
WA-376-P
WA-375-P W 08-3
TernWA-324-P
WA-27-R
W 08-5
Penguin 1Polkadot 1
WA-318-P
WA-313-P
Gas AccumulationLead
• Seismic acquisition in 2008 following up proven gas at Hyland Bay level in Fishburn.
Blacktip
Lesueur 1
Marina (WA) 1
279-P
WA-33-L
0 25 50
Kilometres
Seismic acquisition in 2008 following up proven gas at Hyland Bay level in Fishburn. Deeper Keyling (Blacktip) and Kuriyippi (Marina) reservoirs untested
• Adjacent to and along trend from ENI’s Blacktip and ExxonMobil’s 2007 Marina gas condensate discovery.y
• Aim to achieve farmout to major and drill commitment well
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PEP 11:PEL 452
PEL 456 PSPAPP 31
PSPAPP 32
Offshore Sydney Basin - Gas playPEL 285
PEL 4
PSPA 20
Newcastle
PEL 267
PEP 11
PELA 98
Lithgow
PEL 5
PEP 11
PELA 97
New Leads9 Tcf Gas Potential
Sydney2
5
100
Wilton
Wollongong
n ey1
442
444
4454
5
8
BUY 75% and free carried for commitment well. Partner is seeking rig to drill very large leads adjacent to Australia’s largest gas market
PSPA 21
0 25 50Kilometres
Lead
largest gas market
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Utopia SW QueenslandpMurta Depth Structure
ATP 950P
BUY 40%
ATP 269PPL 57
ATP 560P
PL 95
PL 169ATP 959P
PL 29
PL 38PL 39
PL 52
PL 170 PL 214
ATP 560P UATP 959P
UtopiaUntested Leads
ATP 959P
• Large Reserves of 2.4 Mmbo recoverable
• Comparatively low production ofComparatively low production of 40 bopd
• Difference is the opportunity• Shallow target at ~1000 metres
S f d l t f fi ld d• Scope for development of field and Near Field Exploration Targets using cheaper drilling methods
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Utopia Fieldp200
GR_normalized0.00 200
GR_normalized0.00 200
GR_normalized0.00 200
GR_normalized0.00 200
Utopia 2 Utopia 6 Utopia 1 Utopia 5 Utopia 3520 m 587 m 607 m 810 m
1
GR_normalized0.00
000 1000
M1
10
es
M2
M2.1
05
Met
re
M2cU1 OWC
M2a
M2b M2M2a
M2
M2
Oil
M3 M2c
M3
Room for up to 10 development wells in existing pools and closures within the oil water contact offer untested upside
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Take Home Message !!g
• KN-1 increases Bounty’s enterprise value to around $25 million.
• Exploration to target gas and oil plays in Nyuni Block
• PEP 11 – partners identify potential 9 TCF of gas resource and are pursuing rig contract andgas resource and are pursuing rig contract and finance/farmout
• 2009 – onshore to reduce costs - Cooper Basin• 2009 – onshore to reduce costs - Cooper Basin focusSubstantial undeveloped reserve base• Substantial undeveloped reserve base
• New Management
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Disclaimer and Important Noticep
This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a range of variables whichthese statements are reasonable but they may be affected by a range of variables which could cause actual results or trends to differ materially, including but not limited to: product price fluctuations, actual demand, currency fluctuations, geotechnical factors, drilling and production results, oil and gas commercialisation, development progress, operating results, engineering estimates, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial markets conditions in various countries, approvals and cost estimates.
All references to dollars, cents or $ in this document are Australian currency, unless otherwise stated.
"The information in this report that relates to or refers to petroleum or hydrocarbon reserves, is based on information and reports prepared and/or compiled by the CEO of and an employee of Bounty Oil & Gas NL ( “Bounty”) Mr Philip F Kelso. Mr Kelso is a Bachelor of Science (Geology) and Bachelor of Laws and has practised geology and petroleum geology for in excess of 20 years He is a member of the Petroleum Exploration Society of Australia and a Member of the Australasianexcess of 20 years. He is a member of the Petroleum Exploration Society of Australia and a Member of the Australasian Institute of Mining and Metallurgy. Mr Kelso consents to the statements by Bounty in this report"
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Bounty Oil & Gas NLBounty Oil & Gas NL
For further information go to:www bountyoil comwww.bountyoil.com
Or contact: Philip F Kelso, [email protected]
+612 9299 7200
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