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Annual General Meeting 12 December 2012

Annual General Meeting 12 December 2012. Annual General Meeting 12 December 2012. Phoenix Oil and Gas Ltd Annual General Meeting 2012. AGENDA Welcome and Chairman’s Comments CEO presentation Ordinary Business. CEO Presentation. Acquisitions post Annual Report WA-482-P

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Annual General Meeting 12 December 2012

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  1. Annual General Meeting 12 December 2012 Annual General Meeting12 December 2012

  2. Phoenix Oil and Gas LtdAnnual General Meeting 2012 • AGENDA • Welcome and Chairman’s Comments • CEO presentation • Ordinary Business

  3. CEO Presentation • Acquisitions post Annual Report • WA-482-P • Cooper / Eromanga Basin • Highlights from Existing Royalties • Financials • Investment Markets • Value “kickers” • Conclusions

  4. WA-482-P Regional Setting

  5. WA-482-P

  6. WA-482-P (con’t) • Phoenix recently acquired 0.2% royalty on WA-482-P from Liberty Petroleum for US$250,000 + 4M shares • Bonus of US$250,000 upon IPO of Phoenix • Block acquired in “hotly contested” bid round • Farmed out to Karoon Gas • $96.5M program of seismic + an exploration well

  7. WA-482-P (con’t) • 4 main prospects identified with potential for multi-TCF targets • 13,555km2 (3.35M acres) • As part of transaction increased existing Browse (WA-314-P and WA-315-P) royalties to 0.06875 of 1.5% (previously 0.06875 of 1.0%)

  8. Cooper / Eromanga Basin • Breaking News- Deal Agreed at today’ s Board Meeting • Agreed to acquire 0.4% royalties from Liberty in Queensland and South Australia on the following permits;- • ATP 616 (operated by Santos) • ATP 636 (operated by Santos) • ATP 661 (operated by Santos) • PEL 88 (operated by Senex Energy) • PEL 100 (operated by Senex Energy) • PEL 512 (operated by Discovery Energy) • Consideration is;- • US$160,000 upon signature • 500,000 Phoenix shares

  9. Santos Operated Permits

  10. ATP 636 • 2,590 km2 (640,000 acres) • 60 km East of Jackson Oil Field • ATP 299 to the North (15 oilfields discovered) • Southern extension of Tintaburra Oilfield?

  11. ATP 661 • 1,779 km2 (400,000 acres) • North-west Flank of the Cooper Basin • 150 km of vintage seismic • Betoota Anticline 58km long by 13 km wide • One well drilled by Delhi in 1959 (weak fluorescence)

  12. ATP 820 (formerly ATP 616) • 607 km2 (150,000 acres) • 14 km East of Jackson Oil Field • 291 km of vintage seismic • 8 leads in southern part • Bundeena-1; dry hole with minor oil shows

  13. Senex Energy Operated Permits- PEL 88 • 3,304 km2 (816,418 acres) • Northern extension of the Cooper Basin Western Flank • 3D seismic completed in May 2012 • Prospective for oil plays (Growler + Scratcher) • 1 well to be drilled 2014

  14. Senex Energy Operated Permits- PEL 100 • 297 km2 (73,389 acres) • Directly West of Telopea + Keleary Oil Fields (produced in excess of 2MMbbls) • Cooper Western Flank discoveries have upgraded the potential of permit (extension possible) • Extensive 3D seismic acquisition due to commence early 2013 followed by drilling (1 well by 2014) • Southern part prospective for liquids rich wet gas + deeper unconventional potential

  15. Discovery Energy Operated Permit- PEL 512

  16. PEL 512 (con’t) • 2,367km2 (585,000 acres) • Western Flank of the Cooper Basin is a desirable address due to success being achieved by Beach Energy in PEL 91 and 92 • High success rates in adjoining permits (45%+) utilising 3D seismic • Beach was successful in 11 out of its last 12 wells • Aggressive drill programs being undertaken • Moomba infrastructure nearby • Emerging unconventional shale story

  17. Highlights from Existing Royalties • Santos farms into Central Petroleum Acreage for potential commitment of $150M • Central Petroleum’s commercial discovery at Surprise to add another royalty cashflow + confirms potential of acreage • Boreas-1 excellent gas flow rates in Browse • Queensland CSM monetisation opportunity closer thanks to BG

  18. Financials • Anglo Pacific investment earlier in the year has provided financial flexibility • Has enabled the recent acquisitions from Liberty + the retirement of vendor financing arising from acquisition of CSM royalties • Current cash balance $1.6M (pre Acquisition) • Revenue increased to $446,631 • Burn rate continues to decrease

  19. Investment Markets

  20. Investment Markets (con’t) • Race for Yield has driven ASX to 2012 highs • “Dividend-paying IPOs continued to sustain an otherwise chilled US market” • Western Gas Equity Partners LP raised US$378M last week in an upsized deal, priced above range (3% yield) + closed up 27% • Deal was sixth yield play out of last 10 IPOs- all but one is trading up (19% average return)

  21. Value “kickers” • Queensland CSM still the “Jewel in the Crown” • ATP 299 royalty income approaching a “tipping point” in the Cooper • Western Flank of the Cooper Basin continues to attract attention + Phoenix now well placed • Further drilling in Browse (Crown discovery)

  22. Conclusions • Royalty Model Alive + Well • Phoenix able to grab acquisition opportunities • Portfolio foundation has been well laid with excellent Basin coverage • Time to move up the food chain • One eye on investment markets • Thank You

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