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Melbourne Mining Club 3 October 2013. The benefits of natural gas (CH 4 ). High hydrogen, hence cleaner burning than coal Reduced water demand Able to provide flexibility to cover base and peak loads
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Melbourne Mining Club 3 October 2013
The benefits of natural gas (CH4) • High hydrogen, hence cleaner burning than coal • Reduced water demand • Able to provide flexibility to cover base and peak loads • Potential to underpin the development of a new and scalable petrochemical industry (explosives, fertilisers etc) • Possibility of building a new era for high purity diesel and jet fuel via gas to liquids • ….but, Eastern Australia is short gas
Today – Australian east coast gas outlook Existing domestic east coast contracts Gladstone LNG facilities Uncontracted gas Projected east coast total demand Source: Core Energy Group, July 2012
Company overview • ASX 100 listed oil and gas exploration and production company • Market capitalisation of ~A$1.8 billion • Largest Cooper Basin oil producer • Sixth largest Australian oil producer • Strong balance sheet with cash of $348 million at 30 June 2013 • Undrawn secured debt facility of A$320 million • FY13 – record underlying NPAT of $141 million, record total revenue of $700 million
What needs to happen next…. • Firm and far reaching policies need to be set • Regulation needs to be streamlined and harmonised • Scientific principles by principled scientists • National backing needed for all LNG projects