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Transcript of Bow Energy LtdBow Energy Ltd EGM - card 1500 pj net 2p reserves (pj) 7000 pj net 3p reserves (pj)...

  • Bow Energy LtdBow Energy Ltd EGM

    John De Stefani CEO

    24 June 201024 June 2010

    1 an S&P ASX300 and S&P ASX200 All Australian Index company Blackwater CSG Field

  • Disclaimer and Competent Expert

    This document has been prepared by Bow Energy Limited (Bow). for the purpose of providing a company and technical overview to interested analysts / investors. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any commitments, representations or warranties by Bowy , p y or its directors, agents and employees. Except as required by law, and only to the extent so required, directors, agents and employees of Bow. shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in the document. This document includes certain statements, opinions, projections, forecasts and other material which reflect various assumptions The assumptions may or may not prove to beforecasts and other material, which reflect various assumptions. The assumptions may or may not prove to be correct. Recipients of the document must make their own independent investigations, consideration and evaluation. By accepting this document, the recipient agrees that if it proceeds further with its investigations, consideration or evaluation of investing in the company it shall make and rely solely upon its own investigations and inquiries and will not in any way rely upon the document. Bow recommends that potential investors consult their professional advisor/s as an investment in the company is considered to be speculative in nature.

    Competent Person Statements

    MHA ‐ The estimates of gas reserve and resources for the Comet Block (ATP 1025P) and Don Juan CSG Field (ATP 771P) has been prepared by MHA Petroleum Consultants LLC (MHA) in accordance with the definitions and guidelines set forth in the 2007 Petroleumprepared by MHA Petroleum Consultants, LLC (MHA) in accordance with the definitions and guidelines set forth in the 2007 Petroleum Resources Management System approved by the Society of Petroleum Engineers. The reserve statement has been compiled by Mr Timothy L Hower Chairman of MHA, together with personnel under his supervision. Mr Hower, who has over 28 years industry experience, and MHA have consented to the inclusion of the technical information contained in this announcement in the form and context in which it appears.

    MBA – The estimates of gas in place estimates for the Norwich Park (ATP 1031P), Gunyah Block (ATP 1053P) and Bandanna Project (ATP

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    g p ( ), y ( ) j ( 805P) has been prepared by Mr Doug Barrenger of MBA Petroleum Consultants Pty Ltd (MBA). Mr Barrenger has more than 25 years of experience in the petroleum industry and 10 years of experience in the coal seam gas industry.

    Bow – Other technical information contained herein is based on information compiled by the Company’s Chief Operating Officer, Vic Palanyk, who has more than 15 years experience in coal seam gas.

  • Investment highlights

    • An S&P ASX200 All Australian and S&P ASX300 Index company committed CSG focuscompany, committed CSG focus

    • Strategically located CSG acreage adjacent to established CSG projects

    Key Statistics

    280.6 Million Shares

    Key Statistics

    280.6 Million Shares • Current 3P gas reserves base of 2,360 PJ and

    confident of getting to 6,200 PJ by end of 2011

    • Strong cash position to deliver planned gas reserve

    80.6 o S a es

    Market Cap ≈ $330 m

    80.6 o S a es

    Market Cap ≈ $330 m g p p g

    targets and Blackwater Power Project

    • Clean asset base with 100% ownership interests in key CSG tenements

    Cash > $75 m

    No debt

    Cash > $75 m

    No debt key CSG tenements

    • Farmed out oil assets with significant acreage holdings in Eromanga and Cooper basins

    3

  • Company Overview – Bow’s team

    Bow Directors:

    H d St k (I d d t Ch i ) i d bli h iHoward Stack (Independent Chairman) – Experienced public company chairman

    Ron Prefontaine (ED) – ex Arrow director, technical experience

    Stephen Bizzell (NED) – current Arrow ED, commercial and corporate experiencep ( )

    Nick Mather (NED) ‐ ex Arrow director, technical and commercial experience

    i iSenior Executives:

    John De Stefani (CEO) – ex power generation, managing the business

    Vic Palanyk (COO) – ex QGC, Anglo, responsibility for operational targetsy ( ) Q , g , p y p g

    Peter Harbison (CFO) – ex Arrow, financial management responsibility

    Dusan Pribilovic (Engineering GM) – ex Origin, manages gas fields and operations

    S T b (E l i S i ) d l d llSam Taubert (Exploration Supervisor) – ex Origin, coordinates exploration drilling

    Blackwater CSG Field

  • Report Card

    1500 PJ

    NET 2P  RESERVES (PJ)

    7000 PJ

    NET 3P  RESERVES (PJ)

    TARGET

    1000

    1250

    1500

    TARGET

    4000

    5000

    6000

    7000

    TARGET

    250

    500

    750 TARGET

    YTD 2 360PJ

    2000

    3000

    4000

    Nil YTD 114 PJ0

    250

    2008 2009 2010 2011

    Nil

    2,360PJ

    0

    1000

    2008 2009 2010 2011

    • Bow has delivered growth based on a solid, tangible  foundation 

    • Real prospects of further rapid growth based on Bow’s quality

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    • Real prospects of further rapid growth based on Bow’s quality  CSG assets and strong demand for its gas

  • Focused Strategies

    Ambitious explorer to integrated energy company

    Aggressively grow upstream gas reserves and production

    Progress multiple development paths to market:

    Domestic power generation: Blackwater Power Project with optional modular upscaling; opportunity to replicate in Norwich Park and/or undertake larger scale integratedNorwich Park and/or undertake larger scale integrated generation developments

    Domestic gas supply for industry: significant demand forDomestic gas supply for industry: significant demand for  long term gas

    Export LNG market in Gladstone: either by way of GSA or via 

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    p y y direct or indirect equity participation

  • Leverage end to end value chain

    Value chain delivers higher overall gas price returnValue chain delivers higher overall gas price return

    Currently own 100% gas reserves and power station

    Objective to own development assets value addingObjective to own development assets, value adding  contracts and highly strategic infrastructure assets, either  on Bow’s account or in JV

    Planning development of major gas pipeline from Bowen  Basin to Gladstone for potential gas supply to domestic  i d i l d d LNG jindustrial users and proposed export LNG projects

    Continue to deliver shareholder growth

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    Continue to deliver shareholder growth

  • Infrastructure to Markets

    Victoria Fund Mgt Gas pipeline

    Bow Proposed PipelineMoranbah Gas Project / /

    Comet and  Norwich Park  Projects

    Bow Proposed Pipeline • Key access to domestic and export markets

    • ≈ 250km from Blackwater • Route surveyed

    (Arrow/Shell/AGL)

    j y • EIS process to begin

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  • CSG projects with GIP Potential of over 13.8 Tcf

    C t CSG Fi ld Norwich Park Projects

    PROPOSED EXPORTBlackwater CSG Field

    0 50 Miles

    Bow’s  proposed gas 

    pipeline

    Comet CSG Field j

    6.5 Tcf GIP

    EXPORT LNG

    FACILITIES

    Blackwater CSG Field

    Proposed  Arrow/AGL  Pipeline

    4.8 Tcf GIP

    Bow Energy Permit

    Gas Pipeline

    Pipeline

    Gunyah Project  1 8 Tcf GIPGas Pipeline

    Possible Gas Pipelines

    Major Road

    Town/City

    Qld Gas  PipelineBandanna Prospect

    0.4 Tcf GIP

    1.8 Tcf GIP

    LOCATION

    Don Juan CSG Field 0.3 Tcf GIP

  • Revised 2010 and 2011 Gas Reserve Targets

    Current End 2010 End 2011

    Project (all 100% unless stated otherwise)

    Certified Reserves Reserve Targets Reserve Targets

    3P Reserves (PJ net to  Bow)

    2P  Reserves (PJ net to  Bow)

    3P  Reserves (PJ net to  Bow)

    2P  Reserves (PJ net to  Bow)

    3P  Reserves (PJ net to  Bow)

    2P  Reserves (PJ net to  Bow)Bow) Bow) Bow) Bow) Bow)

    Blackwater CSG Field (Comet Block)*  1,382 59 1,750 200 1,750 450

    Comet CSG Field (Comet Block)**  871 ‐ 871 100 1,000 200

    Norwich Park Projects (3 prospects) 1 200 100 2 500 400Norwich Park Projects (3 prospects)  ‐ ‐ 1,200 100 2,500 400

    Gunyah Project (ATP 1053) ‐ ‐ 200 ‐ 600 100

    Bandanna Project (ATP 805) ‐ ‐ ‐ ‐ 200 ‐

    Don Juan Project (55%) 107 55 107 55 150 100

    * A further 435PJ of 2C resource was certified in the Rangal and Burngrove Coal Measures ** A f th 439PJ f 2C tifi d i th R l d B C l M

    Don Juan Project (55%) 107 55 107 55