ASX RELEASE 26 November 2010 The Manager Company Announcements - - PDF document
ASX RELEASE 26 November 2010 The Manager Company Announcements Office Australian Securities Exchange 4 th Floor, 20 Bridge Street Sydney NSW 2000 Electronic Lodgement Dear Sir or Madam Company Announcement I attach the following
ASX RELEASE 26 November 2010 The Manager Company Announcements Office Australian Securities Exchange 4th Floor, 20 Bridge Street Sydney NSW 2000 Electronic Lodgement Dear Sir or Madam Company Announcement I attach the following announcement for release to the market:
Yours sincerely Mark Knapman Company Secretary APA Ethane Limited
Presentation 2
– Board of APA Ethane Limited, the Responsible Entity for EPX
– Management
– Brief Overview – Robert Wright – Market Performance – Robert Wright – Distributions in FY11 (year to date) – Robert Wright – FY10 Results – Sam Pearce – Key Issues in FY10 – Sam Pearce – Question & Answer Session
Presentation 3
– Investment in the Moomba to Sydney Ethane Gas Pipeline, through wholly owned subsidiary, Gorodok Pty Limited – Pipeline – 1375km in length, running through regional NSW as well as the urban areas from Wilton into Botany
– Pursuant to a long term Product Transportation Agreement (to 2030) with its sole customer, Qenos, Gorodok provides capacity on the pipeline for the transportation of ethane from the gas processing plant in South Australia’s Cooper Basin to a petrochemical plant near Botany Bay, Sydney owned by Qenos.
– EPX has no employees – Operational roles are undertaken by East Australian Pipeline Pty Limited under long term
Presentation 4
Source: Thompson Reuters
EPX price and volume November 2009 - October 2010
$1.00 $1.10 $1.20 $1.30 $1.40 $1.50 $1.60 $1.70 30-Oct-09 30-Nov-09 30-Dec-09 30-Jan-10 28-Feb-10 30-Mar-10 30-Apr-10 30-May-10 30-Jun-10 30-Jul-10 30-Aug-10 30-Sep-10
price
50,000 100,000 150,000 200,000 250,000 300,000 350,000
volume EPX volume EPX price
Presentation 5
– Provision of funds for repayment of the Investec debt facility. This facility will be fully repaid in December 2012.
Presentation 6
Presentation 7
Required to maintain pipeline integrity. Metal Fatigue Loss (MFL) Pigging Run
MFL pigging run for Wilton – Botany to commence
in FY11. This will be capitalised Reduced monitoring during FY10, compared to expectation. This is a timing issue. Mine Subsidence Monitoring
Due to underground coal mining activities in Appin
Expected to cost ~$0.6m to 30 June 2011
Timetable for incurring costs is dependent on SRA works Current work expected to be finalised in FY11. Supervising 3rd party work in State Rail (SRA) land
Required to ensure public safety and to maintain
pipeline integrity
Commenced in FY09 Forecast to cost ~$0.2m in FY11
Non Routine Operating Costs Expected to be finalised in Dec 12. Repayment of Investec $20m Debt Facility
$20m repaid in instalments from Dec 10 Final repayment due in Dec 12
Presentation 8
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Presentation 13
From Moomba To Sydney
Presentation 14
Questions on notice Questions at the meeting
Presentation 15
The information contained in this presentation is given without any liability whatsoever to Ethane Pipeline Income Trust or Ethane Pipeline Income Financing Trust or any of its related entities (collectively “Ethane Pipeline Income Fund”) or their respective directors or officers, and is not intended to constitute legal, tax or accounting advice or
thoroughness of the content of the information. Ethane Pipeline Income Fund accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation nor any obligation to furnish the person with any further information. The recipient should consult with its own legal, tax or accounting advisers as to the accuracy and application of the information contained herein and should conduct its own due diligence and other enquiries in relation to such information. The information in this presentation has not been independently verified by Ethane Pipeline Income Fund. Ethane Pipeline Income Fund disclaims any responsibility for any errors or omissions in such information, including the financial calculations, projections and forecasts set forth herein. No representation or warranty is made by or on behalf of Ethane Pipeline Income Fund that any projection, forecast, calculation, forward-looking statement, assumption or estimate contained in this presentation should or will be achieved. Please note that, in providing this presentation, Ethane Pipeline Income Fund has not considered the objectives, financial position or needs of the recipient. The recipient should obtain and rely on its own professional advice from its tax, legal, accounting and other professional advisers in respect of the addressee’s objectives, financial position
This presentation does not carry any right of publication. This presentation is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by Ethane Pipeline Income Fund. Neither this presentation nor any of its contents may be reproduced or used for any other purpose without the prior written consent of Ethane Pipeline Income Fund.