Annual General Meeting 22 November 2019 GEV
Disclaimer AUSTRALIA AND ALL JURISTICTIONS The information in this presentation is not an offer or recommendation to purchase or subscribe for securities in Global Energy Ventures Ltd (GEV) (ASX:GEV) or to retain or sell any securities currently being held . This presentation does not take into account, nor is it intended to take into account, the potential and/or current individual investment objectives and/or the financial situation of investors. This presentation was prepared with due care and attention and the information contained herein is, to the best of the GEV’s knowledge, current at the date of the presentation . This presentation contains forward looking statements that are subject to risk factors associated with the gas and energy industry . The expectations reflected in these statements are currently considered reasonably based, but they may be affected by a range of variables that could cause actual results or trends to differ materially, including but not limited to : price and currency fluctuations, the ability to obtain reliable gas supply, gas reserve estimates, the ability to locate markets for CNG, fluctuations in gas and CNG prices, project site latent conditions, approvals and cost estimates, development progress, operating results, legislative, fiscal and regulatory developments, economic and financial markets conditions, including availability of financing . All references to dollars, cents or $ in this document is a reference to AUD Dollars, unless otherwise stated. UNITED STATES (ONLY) Any offering or solicitation will be made only to qualified prospective investors pursuant to a prospectus or offering memorandum, each of which should be read in their entirety . To the extent applicable, any placement of securities will only be available to parties who are “accredited investors” (as defined in Rule 501 promulgated pursuant to the Securities Act of 1933 , as amended) and who are interested in investing in the securities on their own behalf. This presentation was authorised for release on 22 November 2019 by Maurice Brand, Executive Chairman & CEO. PAGE 2
Experienced board and management team Maurice Brand Garry Triglavcanin Martin Carolan Paul Garner John Fitzpatrick Thomas Soderberg Executive Director & Executive Director Chief Technical Officer Executive Chairman & Non-Executive Director, Head Non-Executive Director Chief Development Officer GEV Canada Chief Executive Officer Corporate & Finance of Shipping 30 years’ experience in the Bachelor of Mechanical Eng. & 13-years in the financial markets, Over 15 years’ experience in the Over 30 years of experience as a Over 30 years experience in the international energy industry MBA with 25 years’ experience in with extensive experience in international energy industry, structural engineer specializing in shipping industry with first in class analysis, design, construction and having foundered ASX listed the international energy providing corporate advisory and organizations like AP Moller directly focusing on capital deployment. Previous Director of Energy Equity Corporation industry across commercial, capital market services to a large /Maersk, HSBC, Seatankers/John raising & restructuring of Engineering at SeaNG. Responsible Limited (EEC) in 1985 (now technical & legal aspects of number of small-cap ASX listed Fredriksen and Armada Group. companies at various stages of known as EWC); ASX listed project development. companies. their development. for the Optimum ship design. Resides in Hong Kong with more Liquefied Natural Gas Limited than 30 years’ experience and (LNG) in 2002 and ASX listed 12 years with Liquefied Natural Global network of institutional and Instrumental in acquiring the network in Asia, as Director of Global Energy Ventures Ltd Gas Limited as Group sophisticated investors will be prospect in the Gulf of Mexico that HSBC Shipping Services, heading (GEV) in 2016. Commercial Manager, invaluable to GEV. produced the High Island 24L gas up Ship S&P, newbuilds and developing a range of projects, discovery in 2006 for Entek Energy alternative ship finance activities Maurice was the driving force including the Australian Joined Foster Stockbroking in 2010, Limited. in the region, GM of Seatankers behind both EEC and LNG as the Fisherman’s Landing LNG was made Executive Director and (John Fredriksen Group) and CIO Managing Director and Chief Project, Magnolia United States partner in 2014, primarily Director and management roles of Armada Group. Executive Officer. ASX listed LNG LNG Project and the Middle East responsible for managing in various ASX listed juniors. being admitted to the ASX 200 in Qeshm Island LNG Project. relationships with Foster’s Thomas is the founder of Tribini September 2014 with a market institutional and corporate clients. Capital a shipowning and David Stenning capitalisation of A$2.5 billion. investment platform which has Chief Operating Officer contracted, built and financed ship newbuilds in China. GEV Canada Over 30 years of engineering Ownership: Ownership: Ownership: Ownership: Ownership: experience in the international energy industry, with leadership 22.3M shares 11.9M shares 10.8M shares 2.0M shares 13.1M shares roles in engineering and management. Leading the SIGNIFICANT EQUITY EXPOSURE TO ALIGN WITH SHAREHOLDERS development of CNG Optimum. PAGE 3
Corporate overview 2 0 1 9 S H A R E P R I C E P E R F O R M A N C E A S X : G E V C A P I T A L S T R U C T U R E Ordinary Shares on Issue 385.7m (84%) 4 Market Capitalisation at $0.15/share A$57.9m 3 5 1 Cash Balance (20 November 2019) A$5.0m 2 7 6 Performance Shares 3 14.0m (3%) Options on Issue 1 42.7m (9%) Performance Rights 2 16.5m (4%) Fully Diluted Shares 458.9m (100%) 2 0 1 9 A C H I E V E M E N T S S H A R E H O L D E R S U M M A R Y ( U n d i l u t e d ) Regal Funds Management Pty Ltd 6.5% January | ABS Full Design Approval • 1 Maurice Brand 5.8% February | $4.7M Capital raising • 2 Board and Management 23.9% July | Shipyard LOI executed with CIMC Raffles Offshore • 3 Top 20 shareholders 4 45.3% July | Brazil gas market launch • 4 Top 50 shareholders 4 63.9% August | $3.0M Capital raising • 5 October | Strategic Alliance with CIMC Raffles & CIMC ENRIC • 6 Notes: 1. 6.1m 10c options, expiry 30/5/20; 2m 14c, expiry 18/6/20; 3m 21c, expiry 19/6/20; 31.6m 40c options, expiry 31/5/20; 7 November | US Gulf Coast gas market launch | R&D Cash Rebate 2. Performance Rights issued to Maurice Brand, Garry Triglavcanin, Paul Garner, Martin Carolan and consultants • 3. Refer to the 30 June 2019 Annual Report for full details of the Milestone Conditions 4. Including shares held by the Board and Management PAGE 4
2019 year in review Achievements ... ... Challenges … ◉ Full ABS class approvals should not be underestimated ◉ Ongoing low UK gas prices have undermined the early with CNG Optimum the only fully approved CNG vessel work to secure gas supply and commercialise the UK seeking commercialisation. Meridian import terminal. ◉ Shipyard Letter of Intent for new builds with CIMC Raffles ◉ Delays in securing Middle East gas partner to support confirmed competitive CNG transport economics and regional CNG market opportunities – including HOA with tariff rates. Indian Oil Company. ◉ Strategic Alliance with CIMC Raffles and CIMC Enric to ◉ Securing gas supply agreement out of PNG for CNG support CNG project development and provide an project to East Coast Australia – despite productive integrated “EPC Wrap” for ship new builds and discussions for gas offtake and compelling economics for associated gas supply chain infrastructure. accelerated gas production using CNG Optimum. ◉ Launch of CNG Optimum into two new markets with ◉ Slower than expected take-up by a bankable partner in multi-project potential: Offshore Brazil and US Gulf Coast. South East Asia to develop stranded gas assets applying CNG Optimum’s superior economics for regional gas ◉ Positive discussions with CNG project financial advisors transport. and the identification of future funding partners. ◉ Two successful fund raisings , supported by new and > Project delays mitigated by GEV’s strategy of existing investors who understand the CNG value developing multiple CNG projects. proposition and time required to secure material long- > Brazil and the US Gulf Coast offer multiple opportunities. term contracts with large investment grade customers. > Low project development costs to establish new regions. ◉ Additional CNG markets still under due diligence > Conviction on the merits for CNG continues to grow. verifying our repeatable approach to development. PAGE 5
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