Acquisition of Peak Oil & Gas Limited Creating a diversified - - PowerPoint PPT Presentation
Raisama Limited (ASX: RAI) Acquisition of Peak Oil & Gas Limited Creating a diversified energy company December 2010 www.raisama.com.au Agenda Acquisition Rationale Benefits to RAI Shareholders Acquisition Terms
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acquired by Paladin Energy Ltd
Project and within WMC’s petroleum division
and WMC Ltd
companies in Australia
Barney involved in merger and acquisitions and capital raisings
resources sector
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5.8 mmbbl
33 62 Potential incremental NPV* 20 40 Satellite field tie-in (4.0 mmbbl) 0.90 A$:US$ Base case Project A$m Peak A$m NPV 123 70 Free cash flow (6 months after 1st Oil) 67 55 Payback months (from first oil) 3 months 3 months Potential upside – Indicative Incremental NPV* Acquisition of residual ORRI 5 3 Acquisition of Production Royalty 7 4 Reserves enhancement 10 6 Base case assumptions 2P reserves Oil price (GCA price forecast) US$81/bbl Capex (to 1st Oil) US$5/bbl Opex (average) US$22/bbl Discount rate 10% Net 2P reserves to Peak 2.9 mmbbl
* Indicative NPV estimated by Peak Note: Production assumptions beyond the Cadlao 2P Base Case are by Peak.
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Note: All production and reserves statements for Cadlao are net to Peak
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Note: This schedule is subject to modification depending on results.
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Phase / Timing 2010 2011 2012 Project Country Activity 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Exploration Block L20/50 Thailand Drilling campaign South Block A Indonesia 2D Seismic Indonesia Multi-well drilling campaign PEP 51311 New Zealand Kaupokonui Prospect* SC-6 (Cadlao) Philippines Cadlao East - Contingent SC-6 (Bonita) Philippines Libro South - Contingent Sunday Creek Australia Drilling Kashkasu II Kyrgyz Rep. Trenching Kyrgyz Rep. Drilling Lambina Australia Ground Geophysics then Drilling Mt Alice Australia Drilling Development Cadlao Oil Field Philippines Front-end engineering design Philippines Development plan approvals Philippines Final investment decision (FID) Philippines Award major contracts Philippines Development drilling Philippines First Oil Philippines Engineering & construction for FFD Production Cadlao Oil Field Philippines Initial Phase (including EWT) Philippines Full Field Development (FFD)
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This presentation has been prepared by Raisama Limited (“Raisama”). The information contained in this presentation is a professional opinion only and is given in good faith. Certain information in this document has been derived from third parties and although Raisama has no reason to believe that it is not accurate, reliable or complete, it has not been independently audited or verified by Raisama. Any forward-looking statements included in this document involve subjective judgment and analysis and are subject to uncertainties, risks and contingencies, many of which are outside the control of, and maybe unknown to, Raisama. In particular, they speak only as of the date of this document, they assume the success of Raisama's strategies, and they are subject to significant regulatory, business, competitive and economic uncertainties and risks. Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Recipients of this document (Recipients) are cautioned to not place undue reliance on such forward-looking statements. Raisama makes no representation or warranty as to the accuracy, reliability or completeness of information in this document and does not take responsibility for updating any information or correcting any error or omission which may become apparent after this document has been issued. To the extent permitted by law, Raisama and its officers, employees, related bodies corporate and agents ("Agents") disclaim all liability, direct, indirect or consequential (and whether or not arising out of the negligence, default or lack of care of Raisama and/or any of its Agents) for any loss or damage suffered by a Recipient or other persons arising out of, or in connection with, any use or reliance on this presentation or information. All amounts in Australian dollars (A$) unless stated otherwise. This presentation and its contents have been distributed in confidence and may not be reproduced or disclosed to any other person except those within your organisation directly involved in considering the proposed transaction. Upon request you will return promptly this presentation, together with any other materials received in connection with it, to Raisama without retaining any copies. Neither this presentation nor any copy hereof may be transmitted in the United States or distributed or released, directly or indirectly, in the United States or to any US Person (as defined in regulation S under the Securities Act of 1933, as amended (“U.S. Securities Act”)). To the maximum extent permitted by law, neither Raisama, its related bodies corporate, their directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this presentation
in this presentation should be construed as a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction. Nothing contained in this presentation constitutes investment, legal, tax or other advice. The information in this presentation does not take into account the objectives, financial situation or particular needs of any person. By accepting this presentation you agree to be bound by the foregoing limitations. The information in this report that relates to Raisama’s Exploration Results is based on information compiled by Mr Robert Waugh. Mr Waugh is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a Member of the Australian Institute and Geoscientists (AIG). Mr Waugh is a full-time employee of Raisama Limited. Mr Waugh has sufficient industry experience to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Waugh consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
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