lion$energy$limited.$ for personal use only · 2015. 6. 15. · at pt energi mega persada (emp)...

ASX/Media*Release*For$Immediate$Release$–$15$June$2015$*

A$New$Approach$to$Asian$Energy** *

*

Investor$presentation$–$Chinese$translation$*

Lion*Energy*Limited*(ASX:*LIO)*–*In*the*week*of*June*1D5*2015*a*number*Lion*directors/senior*management*undertook*a*trip*to*China*(Shenzhen*and*Shanghai)*meeting*potential*investors.**

During*the*trip*we*ran*through*the*Investor*Presentation,*announced*on*June*2*2015,*which*we*had*translated*to*Chinese.*

A*copy*of*the*Investor*Presentation*including*the*Chinese*translation*is*attached.**

Lion*is*hopeful*of*continued*engagement*with*prospective*investors*in*this*dynamic*country.*

On*behalf*of*the*board*of*Lion$Energy$Limited.$

$

$

Kim$Morrison$Managing*Director*and*CEO*

*

ENDS.*

*

*

*

*

About$Lion$

Lion* Energy* Ltd* is* an* ASX* listed* oil* &* gas* exploration* &* production* company* focused* on* Indonesia,* where* it* has* been*operating*for*some*15*years.*It*has*two*existing*conventional*Production*Sharing*Contracts*(PSC’s)*–*Seram*and*South*Block*A*D*and*an*early*mover*position* in*the*fledgling* Indonesian*unconventional* industry*via*two*unconventional* joint*studies*and*two*joint*study*applications.*

Lion’s*leadership*team*has*vast*experience*in*the*southDeast*Asian*oil*and*gas*industry,*particularly*Indonesia.*The*company*has* some* significant* Indonesian* backed* investors* in* Risco* Energy* and* Tower* Energy* and* a* highly* skilled* advisory* panel*including*North*American*unconventional*experts.**

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May 2015 2015 5

A New Approach to Asian Energy 已关

RIGHT COMPANY ��*] RIGHT TIME �� RIGHT PLACE ��

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2 A New Approach to Asian Energy www.lionenergy.com.au March 2015

Important notice and disclaimer

Forward-looking statements Certain statements contained in this presentation, including information as to the future financial or operating performance of Lion and its projects are forward-looking statements. Such forward-looking statements: • should or can generally be identified by the use of forward looking words such as “anticipate”, “believe”, “expect”, “forecast”, “estimate”, “will”, “could”, “may”, “target”, “plan” and other similar expressions within the meaning of securities laws of applicable jurisdictions, and include earnings guidance and statements of intention about future matters and the outcome and effects of the equity raising. Indications of, and guidelines or outlook on, future earnings, distributions or financial position or performance are also forward looking statements; • are based upon a number of assumptions and estimates that, while considered reasonable by Lion, are beyond the control of the Company has they are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; • involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward-looking statements; and • may include, among other things, statements regarding targets, estimates and assumptions in respect of production, prices, operating costs, results, capital expenditures, reserves and resources and anticipated flow rates and are or may be based on assumptions and estimates related to future technical economic, market, political, social and other conditions. This Document is provided to the recipient on the basis that the recipient understands and acknowledges that it may not rely in any way whatsoever on the Document or other information. Unless legally required, the Company undertakes no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise. General Disclaimer The Company has taken all reasonable care in producing the information contained in this document, however it does not guarantee the accuracy of information or analysis provided. The Company will not be responsible for loss or damage arising from the use of this information. The contents of this document should not be used as a substitute for detailed investigations or analysis and we strongly recommend you obtain independent professional advice before making any investment decisions about the Company. You may use the information for your own personal use or to inform others about our materials, but you may not reproduce or modify it without our express permission.

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Important notice and disclaimer

&¥-�w 主早 Lion的之⼩小给⼆二试

!  / 信 “ ” “ ” “ ” “ ” ”⺴⽹网 ” “ ” “ ” “ ” “ 最” “ 知” 第⼤大天说和品两早实的⽽而加试的

实⽽而之⼩小等⼆二要⼊入 !  Lion ⾏行情早太没世点回

动每⼊入 ! ⽐比的动早动开

起⼊入 !  早新好给⼆二也定最早 / 的太点回试

早那试早的等试

\�C$ 主早作能早和动试然早

试主⼒力多早活下得试

得⽂文对⻓长些早的动等发在试

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3 A New Approach to Asian Energy www.lionenergy.com.au May 2015

Reserves & Resources estimates 1. Hydrocarbon reserves and resource estimates are expressions of judgment based on knowledge, experience and industry practice. Estimates that were valid when originally calculated may alter significantly when new information or techniques become available. In addition, by their very nature, reserves and resource estimates are imprecise and depend to some extent on interpretations, which may prove to be inaccurate. As further information becomes available through additional drilling and analysis, the estimates are likely to change. This may result in alterations to development and production plans which may in turn, adversely affect the Company’s operations. 2. Prospective resources: the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. 3. Seram prospective resources updated 6 November 2014 (Lion estimate on Lofin structure).

4. Aggregated by arithmetic summation The aggregate Low estimate may be a very conservative estimate and the aggregate High estimate may be a very optimistic estimate due to the portfolio effects of arithmetic summation Competent Persons Statement: Qualified Petroleum Reserves and Resources Evaluator Pursuant to the requirements of the ASX Listing Rules Chapter 5, the technical information, reserve and resource reporting provided in this document are based on and fairly represent information and supporting documentation that has been prepared and/or compiled by Mr Kim Morrison, Chief Executive Officer of Lion Energy Limited. Mr Morrison holds a B.Sc. (Hons) in Geology and Geophysics from the University of Sydney and has over 28 years’ experience in exploration, appraisal and development of oil and gas resources - including evaluating petroleum reserves and resources. Mr Morrison has reviewed the results, procedures and data contained in this website. Mr Morrison consents to the release of this report and to the inclusion of the matters based on the information in the form and context in which it appears. Mr Morrison is a member of AAPG.

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Important notice and disclaimer¨Cont.© /�9��\�C$(N)

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�8�_y8d� 1. 定过⺴⽹网⻅见博试中⺴⽹网太

⽤用在试早早定过⺴⽹网动早著下和动试因当等早过⺴⽹网在试开新知在早

给新个试 2. 家您的于⼈人的⺴⽹网试⺴⽹网起试

过⺴⽹网公起动试 3. Seram 家 2014 11 6 Lion Lofin ⾝身过⺴⽹网试 4. 中早去⺴⽹网⼀一乐⺴⽹网早⺴⽹网⼀一们⺴⽹网试

:_R�kC$«:_RzU�8�_y8d�> ⽇日个和品两 5 两早太定⾃自 Lion Energy Limited 到

Kim Morrison / 也试Kim Morrison 上早过⺴⽹网为 28 早定过⺴⽹网试Morrison 正与我著⽇日试

Morrison ⾃自⼼心⼤大⾥里⽓气试Morrison试

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Important notice and disclaimer¨Cont.© /�9��\�C$(N)

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A New Approach to Asian Energy www.lionenergy.com.au May 2015

Lion’s positioning in Indonesia /Lion明

Skills, strategy and unique ability to execute 太得

4

Conventional cashflow

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Unconventional Upside

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Local knowledge, relationships and skills )��i§.I�tp

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Strong growth driven management team 变天成很

Strategy for success in untapped Indonesian shales and tight sands

的明做

Superior local knowledge and contacts 从

First mover acreage build ongoing 早

Lion’s unique value proposition Lion Linked conventional and unconventional growth model 出⼀一出

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6 Key Guiding Principals 着要开

We seek ��u@ 1. Heartland positions in

world-class basins 现

2. High working interest positions, operatorship

给给 3. Close proximity to infrastructure/

robust markets 您/

4.  Low risk conventional assets, near term production potential 去出新新公

5.  Large upside, first mover unconventional advantage 美公同⼀一出了

6.  Best in country team 成很

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7 A New Approach to Asian Energy www.lionenergy.com.au

What we are now��*])&�� Summary

Capital structure • Shares on issue: 96m •  s9600u • Market cap @15c: A$14.4 million •  p 0.15 qs1440u • Cash: A$5.2mil (31/3/2015) •  s520u p2015 3 31 q • Revenue: ~A$2 million pa •  s 200u Major shareholders ~: • Risco Energy Investments (54.7%) • Tower Energy (6.6%) • Management (13.5%) Assets : • Seram PSC (2.5%) – production • South Block A (35%) – exploration • Two unconventional joint studies • Two unconventional JS applications

May 2015

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Who we are Well rounded team, proven track records

"  Exploration geologist, 28 years of international experience including a strong SE Asian focus

"  Senior roles with Woodside, Shell, Marathon "  Co-founded KRX Energy in 2010 which

became part of Lion in 2014

Kim Morrison Managing Director and CEO

"  Founding Director of Risco, former CEO of EMP, President of Santos Indonesia; MD, Fletcher/Shell in Brunei & President of IPA.

"  35 years experience, 14 in Indonesia in leadership, technical and commercial roles

"  Geologist background, post graduate qualifications in finance and investment

Chris Newton Non Executive Director

Russell Brimage Chairman

"  35+ years experience in oil and gas "  Founder of Oilserv Australia Ltd, providing

drilling, well testing and production services "  Former CEO of Western Resources NL,

Entek Ltd and GM of a WA gas field operator

"  Founding Director of Risco, former Director at PT Energi Mega Persada (EMP)

" Responsible for adding over 500mmboe 2P reserves through M&A in last 10 years

"  Accounting and Investment banking background KPMG, UBS and ANZ

Tom Soulsby Non Executive Director

" Chartered Accountant, 20+ years in the Energy industry. Formerly Head of Oil & Gas Research for Asia Pacific with Merrill Lynch

"  Leadership roles with private E&P companies, including CFO of leading Indonesian CBM company Ephindo Energy

Stuart Smith Executive Director

" Founder of Tower Energy; Founder/CEO of Ephindo, Indonesia’s leading CBM company

"  Senior management positions at: Unocal and Chevron Indonesia; Siemens; and Lafarge

"  Excellent Government/Industry relations; Board Member of IPA and KADIN

Sammy Hamzah Principal Advisor

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��mf 成很早

"  早28 早有说

"  Woodside 相时还事

"  2010 国 KRX Energy早2014Lion

Kim Morrisonª�#��Q��#V

"  Risco国早EMP 到早Santos Indonesia 早其Fletcher/Shell 早明

"  35 早 14 明开太没

"  家早加意被

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Russell Brimageª��"�

"  35

" Oilserv Australia Ltd国 , 当表新⼩小

" Western Resources NL Entek Ltd到早⽣生所给没

"  Risco国早PT Energi Mega Persada (EMP)

"  他 5流+ 定

"  时⽅方⽅方⽅方

Tom SoulsbyªM�#��

"  早 20 试学⽅方说意被天

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天

" 性点 / ⼊入明明没

Sammy HamzahªQ�}2

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World-class expertise Pre-eminent panel of industry advisors, wide-ranging skill set

Dr Harold Williams Technical Advisor

"  Geochemist (BSc, MSc and a PhD) with strong unconventional expertise, Shale gas experience in Western Canada, Australia (NT) and Europe

"  Senior technical positions with Caltex in Indonesia and published widely-cited papers on Sumatran petroleum systems.

"  Strong operations experience with geological supervision of unconventional wells.

Dr Andrew Cullen Technical Advisor

"  Petroleum geoscientist (BSc, MSc and PhD) "  Involved in international and Nth American discoveries/reserves

additions >700 mmboe "  Senior Advisor to Chesapeake Energy working on major

unconventional projects "  Nearly 20 years with Shell in Nigeria, Malaysia, the Netherlands and

the US

Mr Roger Whyte Principal Advisor

"  Geophysicist with extensive SE Asia exposure, Co-founder of KRX which is now a wholly owned subsidiary of Lion

"  Excellent technical and management skills Indonesia Country Manager, Oilex; MD/CEO GulfX Limited; Commenced career with Shell, senior roles Union Texas, Trend Energy

Mr Michael Ellis Technical Advisor

"  Drilling/Operations Engineer with 34 year in majors through small companies including US unconventional experience

"  20+ years in Jakarta & KL for ARCO, BP, Hess & Pexco. VP Exploitation for Maxus-YPF Repsol, responsible 150,000 bopd production

Mr Zane Lewis Company Secretary, Accounting

"  Principal and joint-founder of corporate advisory firm SmallCap Corporate,

"  Wealth of knowledge obtained from diverse financial and corporate experience

"  Member of Chartered Secretaries Australia.

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,6E�tp 别⾼高成太

Harold Williams�kªtp}2

"  上早⼀一两年早个NT 为

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"  上早有说为早KRX 国早KRX Lion

"  性太天早Oilex明说早GulfX Limited将到; 但相早 Union Texas Trend Energy

Michael EllisS�ªtp}2

"  当 / 给著早为 34 早这⼀一两

"  完为 20 早⽣生 ARCOHess Pexco试Maxus-YPF Repsol ⾯面早

150,000 / 新

Zane LewisS�ª *]|K§H

"  ⾼高 SmallCap Corporate 将国 "  之⼩小⼈人年 " 

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Indonesia’s investment rationale �7v3x�L_+X A unique opportunity in SE Asia 有得

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May 2015

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A New Approach to Asian Energy www.lionenergy.com.au May 2015

•  Focus on Sumatra: prospective geology, infrastructure and markets

前取家您

•  Using synergies in conventional exploration to understand our unconventional potential 个出中⼀一出公 •  Cost efficiencies 中 •  Near/mid-term cash flow potential / 公

•  Adopt best practices from the US 作太

•  Apply best in-class technical, commercial, operational and market skills 作太没给给机太

•  Portfolio attractive to large companies with capital, capability and strategic intent but no early mover position 新然

Strategic focusJ�� Linked conventional/unconventional approach 出/⼀一出

11

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•  Building significant unconventional acreage position ⾝身⼀一出 • Two joint studies awarded (~7,200 km2), others being

progressed 地意被 7200 早

• Early mover position, sweet spots captured – ⼦子

•  Lofin-2 success / Lofin-2 •  Strong production from Oseil field

Oseil 所新 • ~3400 bopd (85 bopd net) 3400 85早可

• Further development approval, increase up to ~4500 bopd (113 bopd net) planned 同早知是 4500

113 早可

•  South Block A PSC new seismic firms up high impact gas condensate and low risk oil prospects 有说以A新⽇日

去家说试 •  Active new business program ⼩小 •  Prudent cash management 天

Delivering on our promises¢#��~� Joint studies, Seram production, SBA portfolio upgraded 意被Seran新 SBA

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Seram (Non-Bula) PSC Block continues to exceed expectations说以不

Seram PSC processing, storage facilities and marine export terminal

Seram PSC 定起您经

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Seram (Non-Bula) PSC Overview /Seram(Non-Bula)PSC�w Recent results highly material for Lion Lion ⼀一

Oseil Field facilities / Oseil 所您

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•  Appraisal of Lofin discovery -15.7mmscfpd gas and 171 bpd of 36.1° API condensate

Lofin – 1570u u171 API 36.1

•  Lofin-2 test of potential HC column extent in fractured Manusela limestone Lofin-2 Manusela

•  Reached total depth of 5,861m MD/ 5,686m ssTVD 5,861m MD/ 5,686m ssTVD

•  Wireline pressure testing indicates at least 1106m gas column within Manusela limestone, with up to 1300m column possible in large Lofin feature

1106 r

•  Gas test at up to 17.8 mmcfgd on 52/64” choke with 2250 psi flowing pressure (approx. 100 hours flow on 52/64” choke)

437 o

Lofin-2 appraisal well /Lofin-2过⺴⽹网表 Material gas discovery for Lion, ongoing evaluation 明当表⼀一

Lofin-2 wellsite/Lofin-2�1 Lofin Structure

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Oseil Field /Oseil 所 Production and development drilling success 新当

Oseil Field production since 2010 /2010��OseilU'�Z8

Oseil-2 Area /Oseil-2说

Oseil Field accumulations /Oseil所⼈人

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•  Exciting, underexplored block (1894km2)

•  2013 Matang-1 discovery in adjacent PSC PSC 2013 Matang-1

•  New pipeline through area : •  Recent Block A gas contract - US$9.45 mmbtu •  A – u 9.45

•  183 km seismic program complete 183 : •  Paya Bili Prospect - low risk, shallow oil •  Paya Bill – n •  Djerneh Prospect - “company maker” gas/cond •  Djerneh – j t k /

•  Priority rights for unconventional JSA/PSC JSA/PSC

South Block A PSC (35%)OajA PSC(35%) Heartland position in prolific basin 新现

S Paya Bili Prospect /Paya Bill

Map of South Block A PSC showing key prospects

A PSC

Proposed well 活表

S Djerneh Prospect

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Central Sumatra Unconventional ��4s MBl y Unconventional JS in Bengkalis Graben area (2,478 km2)

Bengkalis Graben说 2,478 km2 ⼀一出地意被

LNG import terminal

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Indonesian World Class Oil/Gas Basins �7v3x,6E�U'��

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Major source rock

East Indonesia5�7v3x 0.7bbo, ~3 tcfg, 0.1bbc

Kalimantan(�� 1.7 bbo, 18.4 tcfg, 0.2 bbc

Java¡�` 1.3 bbo, 9.3 tcf, 0.2 bbc

Sumatra�4s 17.4 bbo, 41 tcfg, 1.1 bbc

Source oil and gas reserves: IHSE (Onshore volumes only shown)

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Sumatra is Indonesia’s most established hydrocarbon province 前取明更新全

May 2015

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Indonesia’s Prolific Onshore Basin �7v3xZ��

Source IHSE, various

5 basins in top 15 in region by discovered onshore conventional HC’s North & Central Sumatra highest hydrocarbon density (disc. HC’s per km2)

出获早说 15 5 早这前取获获

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The unconventional acreage buildMBl yo��PG Targeting 2 million plus net acres in prolific Sumatran basins 新前取 200 场 Early days but assessments point to multi-tcf gas/multi-100’s mmbbl oil upside

早过⺴⽹网流理 / 流公

Joint studies - cost effective process to secure large areas with material upside (cost approx. US$2 to 3 dollars/per acre including study and signature bonus) 地意被 – 中著早公

⼈人场2是3 早意被

Net acres qc£

Proved reserves

(boe) �$�8¨�U)8©

Net production

boe/d qZ8 �U)8/�

2,660,000 2.47

billion /24.7�

640,000

1,650,000 1.35

billion /13.5�

200.000

780,000 ~1.0 billionn10� 206,000

570,000 83 million /8300[ 32,000

Source: Company websites 我

U Z’ aZO ZbQZ U ZM MO QMSQ S c T MU OM QU Z

2.5

2.0

1.5

1.0

0.5

0.0

DQZUM5OQMSQ

UUZMOQ%ZQ

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Nth Sumatra

East Cent Sum

West Cent Sum

SBA Unconv

NW Nth Sum

Sumatra New

Ventures

U Z TM Q R MZ UOU M QP DG7’R M bQP V UZ aPUQ1/)%))) MO Q (,.)) W +

1/u (,.))DG7 U Z

JS Application 地意被

JS Awarded 地意被

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Lion Opportunity Funnel – New Business /Lion� – �=e 5O UbQ ZQS UM U Z% ZQM & UP Q Qd M U Z PaO U Z UZ Ga M M

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Sign CACA

Technical Reviewtpd�

Negotiation / Final DD�g/�Fb{WY

Sign Acreage ⼈人 Submit Bid/Offer

Lion Portfolio /Lion�_Zr:

SBA

C Sum JSA 1

N Sum JSA 1

N Sum 1

Java KSO

N Sum 2

JSA Unconv

New Venture Screening��=¤<

Exploration activities¦��

Board Approval��^

N Sum JSA 2

Seram Non-Bula

Sum 1

C Sum JSA 2 C Sum 5

C Sum JSA 3

N Sum 4

N Sum 3

C Sum oil

C Sum 4

C Sum 3

C Sum 6

S Sum 2

S Sum 3

North Sumatra 这前取

Central Sumatra 前取

South Sumatra 有前取

Other Indonesia 明说

S Sum 4

East Indo Unconv明⼀一出

Oil field所

East Indo Unconv 明⼀一出

Legend

Undeveloped fields 的

2014 Bid round

C Sum conv.

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Milestones�h� Active program - good news flow, base funded through 2015

– 来博早也⼏几给是2015 U Z MO UbU e MZP WQe QbQZ U Q UZQ -E&+) , QZP&+) .U Z p+) , +) . q

25 May 2015

CorporateBuild&Team/Processes,&Manage&Assets

South+Block+ASeismic&Acquisition

Well&Planning/Drilling Drilling

Evaluate&Unconventional&Play &

Seram+(Non+Bula)+PSCProduction&Operations &

Development&Drilling + Oseil+additional + + +

Lofin&well&planning

Lofin&2&Appraisal + Lofin+2

Unconventional+Joint+Study+ApplicationsDevelop&New&Opportunities

Secure&Approvals

Implement&Studies & &

Bid&for&PSC's &

Opportunity+FunnelEvaluate&and&Negotiate

Drilling Exploration?

&

Lion+Interests/Activities2013 2014 2015

Q4Q4 Q1 Q2 Q3Q4 Q1 Q2 Q3

Oseil+26 Oseil+21

+

Oseil+27

New+conventional+PSC+review+Unconventional+link

Extension to+PSC+2014+prospect selection

Transaction approved

Partners+approve Lofin+2

JSA's+awarded

Lofin 2+spud

22+Jan+2014+relisting+

PSC's+

Commitment+well+selection

Sign+deal/s

Code Activity+type Forecast+Key+Event+/News+flow! Lion+Corporate! Held+Assets+General+Exploration

Held+Asset+Field+Activities+(Drilling/Seismic)Lion+New+Business+Activities

Legend

(Note:!There!is!no!guarantee!that!activities!shown!will!occur.!In!addition,!the!timing!of!anticpated!activities!is!indicative!only.!They!are!dependant!on!factors!such!as!Government!of!Indonesia!and!Joint!Venture!approval,!rig!availability!and!unforseen!delays)As+of+May+2015

A New Approach to Asian Energy www.lionenergy.com.au

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Thank you DD For more information please contact本早 Kim Morrison Stuart Smith Chief Executive OfficerQ��#V Executive Director�#�� [email protected] [email protected] Office*]% : +61 8 9211 1500 Indonesia�7v3x: +62 811 460 395 Mobile��: +61 404 490 964 Singapore�(�: +65 9820 3889

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lion$energy$limited.$ for personal use only · 2015. 6. 15. · at pt energi mega persada (emp)...

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