IΠB IPB Petroleum IPB Petroleum Limited (ABN 52 137 387 350) 23 Small Street, Hampton, Victoria 3188 Australia P: +61 3 9598 0188 F: +61 3 9598 0199 W: www.ipbpet.com.au ASX Code: IPB 31 July 2013 ASX ANNOUNCEMENT INVESTOR PRESENTATION Please find enclosed a presentation on IPB Petroleum provided to financial institutions today, 31 st July 2013. John Osborne Company Secretary For Further information contact Brendan Brown, Managing Director +61 3 9598 0188 or [email protected]. IMPORTANT NOTICE: The resources evaluation of petroleum permits is subject to uncertainty because it involves judgments on many parameters that cannot be precisely assessed and which may change as new information becomes available. All resources quantities contained in this announcement have been independently estimated by ISIS Petroleum Consultants Pty Ltd (ISIS) for and on behalf of IPB Petroleum Ltd. Further the resources quantities contained within this announcement have been prepared in full compliance and adherence to The Society of Petroleum Engineers Guidelines for the application of the Petroleum Resources Management System (SPE-PRMS). The qualification of the ISIS persons who prepared the resources estimates for and on behalf of IPB Petroleum Ltd and contained within this announcement are as follows: Dr Douglas Gillies holds a BSc and a PhD in Geology. He is a member of the Society of Petroleum Engineers (SPE) and has over 25 years’ experience in the petroleum industry in Europe, USA, FSU, Middle East, Asia and Australia. Mr Richard Carter holds a BAppSc (Geophysics), and a Graduate Diploma in Applied Physics (Geophysics). He has over 24 years’ experience in the Australian petroleum industry as a technical specialist and an independent investor. He worked as a Senior Geophysicist with BHP Petroleum for 14 years. For personal use only
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ASX Code: IPB 31 July 2013 For personal use only · 2018. 12. 8. · IΠB IPB Petroleum IPB Petroleum Limited (ABN 52 137 387 350) 23 Small Street, Hampton, Victoria 3188 Australia
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IΠB
IPB Petroleum
IPB Petroleum Limited (ABN 52 137 387 350)
23 Small Street, Hampton, Victoria 3188 Australia P: +61 3 9598 0188 F: +61 3 9598 0199 W: www.ipbpet.com.au
ASX Code: IPB
31 July 2013
ASX ANNOUNCEMENT
INVESTOR PRESENTATION
Please find enclosed a presentation on IPB Petroleum provided to financial institutions today, 31st July 2013.
John Osborne Company Secretary
For Further information contact Brendan Brown, Managing Director +61 3 9598 0188 or [email protected].
IMPORTANT NOTICE: The resources evaluation of petroleum permits is subject to uncertainty because it involves judgments on many parameters that cannot be precisely assessed and which may change as new information becomes available. All resources quantities contained in this announcement have been independently estimated by ISIS Petroleum Consultants Pty Ltd (ISIS) for and on behalf of IPB Petroleum Ltd. Further the resources quantities contained within this announcement have been prepared in full compliance and adherence to The Society of Petroleum Engineers Guidelines for the application of the Petroleum Resources Management System (SPE-PRMS). The qualification of the ISIS persons who prepared the resources estimates for and on behalf of IPB Petroleum Ltd and contained within this announcement are as follows: Dr Douglas Gillies holds a BSc and a PhD in Geology. He is a member of the Society of Petroleum Engineers (SPE) and has over 25 years’ experience in the petroleum industry in Europe, USA, FSU, Middle East, Asia and Australia. Mr Richard Carter holds a BAppSc (Geophysics), and a Graduate Diploma in Applied Physics (Geophysics). He has over 24 years’ experience in the Australian petroleum industry as a technical specialist and an independent investor. He worked as a Senior Geophysicist with BHP Petroleum for 14 years.
This presentation has been prepared by IPB Petroleum Limited (IPB) and is provided on the following basis.
This presentation does not constitute or form part of any offer or invitation to purchase or subscribe for any securities in IPB or an invitation or inducement to
engage in investment activity. All persons should consider seeking appropriate professional advice in reviewing the presentation and IPB.
No representation or warranty, express or implied, is made by IPB or any of its directors, officers, employees, advisers, related bodies corporate or any other
person as to the accuracy, reliability, relevance or completeness of the material contained in this presentation and nothing contained in this presentation is, or
may be relied on, as a promise, representation or warranty, whether as to the past or future.
Except for statutory liability which cannot be excluded, each of IPB, its directors, officers, employees and advisers expressly disclaims any responsibility for the
accuracy or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage
which may be suffered by any person as a consequence, either directly or indirectly, of the use of any information in this presentation or any error or omission
there from. IPB accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other
information made available to a person nor any obligation to furnish the person with any further information.
This presentation contains certain statements which may constitute "forward-looking statements". Such statements are only predictions and are subject to
inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or
projected in any forward-looking statements. Any forward looking statements speak only as at the date of this presentation and are based on current expectations
and belief. No representation or warranty, express or implied, is made by IPB that the material contained in this presentation will be achieved or prove to be
correct.
Unless otherwise stated information, opinions and conclusions contained within this presentation has been provided by IPB Petroleum Limited and may not
necessarily represent those of our other joint venture partners.
RESOURCES:
The resources evaluation of petroleum permits is subject to uncertainty because it involves judgments on many parameters that cannot be precisely assessed
and which may change as new information becomes available.
All resources quantities contained in this presentation have been independently estimated by ISIS Petroleum Consultants Pty Ltd (ISIS) for and on behalf of IPB
Petroleum Ltd . Further the resources quantities contained within this presentation have been prepared in full compliance and adherence to The Society of
Petroleum Engineers Guidelines for the application of the Petroleum Resources Management System (SPE-PRMS). The qualification of the ISIS persons who
prepared the resources estimates for and on behalf of IPB Petroleum Ltd and contained within this presentation are as follows : Dr Douglas Gillies holds a BSc
and a PhD in Geology. He is a member of the Society of Petroleum Engineers (SPE) and has over 25 years’ experience in the petroleum industry in Europe,
USA, FSU, Middle East, Asia and Australia; Mr Richard Carter holds a BAppSc (Geophysics), and a Graduate Diploma in Applied Physics (Geophysics). He has
18 years experience in petroleum exploration and development and a further 6 years as a full time independent investor in the Australian oil and has industry. He
worked as a Senior Geophysicist with BHP Petroleum for 14 years; Mr Werner Ribul holds a MSc in Petroleum Engineering. He has over 24 years of petroleum
and reservoir engineering experience with specific focus on recovery optimisation opportunities, reserves determination and classification. Dr. Enrique Carballido
is the Chief Operating Officer of ISIS. He holds a Bachelors degree in Geological Engineering, and a Ph.D. in Geology. He has over 20 years of exploration,
appraisal and development experience in the petroleum industry in the, USA, FSU, Asia and Australia, including 17 years with Shell. For further information,
including assumptions, limitations and qualifications relating to the estimation of resources contained within this presentation, please refer to the Independent
Technical Expert’s Report by ISIS in IPB’s Prospectus dated 1 March 2013, and IPB’s ASX Release “IPB gains additional prospective resources from WA-485-P”
dated 27 May 2013 available on the Company website www.ipbpet.com.au.
Important Notice
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About IPB Petroleum Ltd
• CONVENTIONAL Australian Oil Explorer
• Oil discovered in IPB’s first permit at Gwydion
• QUALITY Shareholder base
• PGS 8.3 %
• Quality JOINT VENTURE Partner and FUNDING
• CalEnergy is a subsidiary of MidAmerican
• CalEnergy are funding up to $32.4m
• NEAR TERM Material Activity
• Pryderi-1 estimated ~Q4/ 2013 is 100% free
carried
• Large Material STRATEGIC POSITION
• Large OIL RESOURCE BASE
• IPB net equity share in permits is 672
MMbbls of oil at a Mean Prospective
Resource level (unrisked) ISIS
• EXPERIENCED & WELL QUALIFIED BOARD
AND MANAGEMENT TEAM
• DIVERSIFICATION through multiplay large permits
• Listed on ASX 30 April 2013 (ASX code IPB) 3
Company & Asset Overview
Highly Active Locale
• US$11B Prelude (Shell) world first FLNG
Development Project
• US$34B Ichthys (Inpex) LNG condensate
Development Project
• Proposed Browse LNG Project (Woodside)
• ConocoPhillips 5-8 well exploration
programme on and around Poseidon
(underway with success)
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2009 Company established
2010 Sept-10 Acquire
WA-424-P
Nov-10 Raise A$6m
2011 Apr-11
Acquire 200km2 3D seismic
Dec-11 Processing of 3D
seismic completed
2012 Apr-12
Interpretation of 3D seismic completed
May-12 Acquired
WA-471-P
Jun-12 Raise A$2.5m
Sept-12 Farmout to CalEnergy
2013 Apr-13
Listed on ASX raising an
additional $2.9m
May-13 Acquired
WA-485-P
~Q4/2013 Planned Pryderi-
1 Drilling
2014 New Ventures/
Farmouts
Potential Pryderi Appraisal Well
Planned 3D seismic Activities
IPB’s Activity Timelines F
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• 30 years experience in oil and gas industry, commenced career with Esso Australia
• Numerous management and senior exploration positions with BHP Petroleum, directly involved in the Macedon,
Pyrenees, Montara, Argus and Gwydion discoveries
• Substantial experience in Australia, in particular offshore Western Australia, SE Asia, and United States.
Geoffrey King
BSc (Hons)
Non-Executive Director
Board of Directors
Shane Tanner
FCPA, ACIS
Non-Executive Chairman
• Former CEO of Mayne Nickless Diagnostic Services (later renamed Symbion Health)
• Vast commercial and financial experience having helped numerous start-up companies grow both organically and
through acquisitions
• Currently Chairman of Funtastic Limited (FUN), Paragon Care Limited (PGC) and Vision Eye Institute Limited (VEI).
Brendan Brown
BSc, BE(Hons),
MBA(Melb), F Fin
Managing Director
• Established IPB Petroleum in early 2009 and has over 20 years experience in the Oil and Gas and Finance
industries
• Commenced career as an engineer with BHP Petroleum - heavily involved in the Jabiru, Challis and Skua projects
and operations, and Griffin oil field developments
• Previously an analyst and corporate advisor with ANZ Investment Bank
• Was head of finance and business development with Nexus Energy (2007-2008) - responsible for substantial
financing, both equity and structured debt, secured by the company and the negotiation and maintenance of its key
commercial agreements and relationships.
Philip Smith
BSc Physics(Hons), Msc
Geophysics, Grad Dip App
Fin & Inv
Technical Director
• Has over 30 years experience working as an exploration geoscientist
• Previously worked in London with Phillips Petroleum and Kufpec and in Australia with Woodside Petroleum and
BHP Petroleum
• During his 15 year tenure with BHP Petroleum he held senior technical and managerial roles in offshore basins
around Australia and was involved in oil and gas discoveries at Elang, Laminaria, Maple and Argus
• Most recently with Nexus Energy where he was responsible for building the exploration portfolio and was involved in
the Longtom and Crux appraisal and development projects.
Craig Mathieson
B.Bus(Banking & Finance)
Non-Executive Director
• CEO of The Mathieson Group
• Current Non-Executive Directors to ASX listed Funtastic Limited (FUN) and Greater Western Exploration NL (GTE)
• Previously Managing Director of DMS Glass (2001-2007) and with ANZ Bank (Business Banking Division) and St
George Bank (Property and Finance division) where he gained banking and commercial expertise.
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Gwydion -1
Spill Point
OWC GOC
Reservoir
(Sandstone)
WATER
GOC
OWC
Increasing
Density
GAS
OIL
Seal (Impermeable rock)
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Gwydion Oil Field (WA-424-P) F
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3D Result – Pryderi Prospect (WA-424-P) F
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Gwydion-1 Pryderi Prospect level
Up dip Shut off
Down dip Shut off
Gas/Oil in
Barremian/Hauterivian Reservoir
3D Arbitrary Line through Gwydion oil discovery and
Pryderi channel prospect F
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gas oil
water
Pryderi Channel System
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WA-424-P
Outline of 3D data
Identified additional prospectivity
from 2D seismic interpretation
Amplitude Anomalies from 2D Data
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Company Overview
ΙΠB Strictly Confidential IPB Petroleum Ltd 11
Amplitude Anomalies from 2D Data F
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Company Overview
Amplitude extraction at top Gwydion gas reservoir level
Shut offs
ΙΠB Strictly Confidential IPB Petroleum Ltd 12
Amplitude Anomalies from 2D Data F
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WA-424-P
Mean unrisked prospective
recoverable resource
40 MMbbls oil
Mean unrisked prospective
recoverable resource
282 MMbbls oil
Amplitude Anomalies from 2D Data
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WA-471-P WA-485-P
WA-424-P
Pryderi Prospect
Mean unrisked prospective recoverable
resource 40 MMbbls oil
WA-424-P
Mean unrisked prospective recoverable
resource 282 MMbbls oil
WA-485-P
Mean unrisked prospective recoverable
resource 166 MMbbls oil
Independent
Assessment (ISIS)
Permit WA-485-P Extension of Pryderi Play F
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WA-471-P WA-485-P
WA-424-P
Pryderi Prospect to be drilled in ~Q4 2013
Mean unrisked prospective recoverable
resource 40 MMbbls oil
WA-424-P
Total M.australis Mean unrisked
Prospective Recoverable Resource
322 Mbbls oil
WA-424-P
Permit – WA-485-P Extension of Pryderi Play
WA-485-P
Total M.australis Mean unrisked
Prospective Recoverable Resource
166 Mbbls oil
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IPB Prospects and Leads Map (WA-424-P)
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CONTINGENT RESOURCES (Oil - Million Barrels ) Net to IPB Chance of Success (Risk: Pg)
Sub Commercial Discovered PIIP Contingent Resources %of Total
P90 P50 P10 Mean P90 P50 P10 Mean 0.4%
1.00 Gwydion 4 5 6 5 1 2 3 2
PROSPECTIVE RESOURCES (Oil Million Barrels) - Net to IPB