Tassie Shoal Projects
AGM Status Update
31st October 2013
Forward-looking Statements
This presentation includes certain forward-looking statements that have been based on current expectations about future acts. events and circumstances. These forward-looking statements are, however, subject to risks, uncertainties and assumptions that could cause those ads, events and circumstances to differ materially from the expectations described in such forward-looking statements.
These factors include, among other things, commerciai and other risks associated with estimation of potential hydrocarbon resources, lhe meeting of objectives and other investment considerations, as well as other matters not yet known lo the Company or not currenUy considered materia! by the Company.
MEO Australia accepts no responsibility to update any person regarding any error or omission or change in the information tn lhis presentation or any other information made available to a person or any obligation to fumish the person wilh furtherinformation.
MEO Australia Limited
Modular Commercial Structure
Initial focus on TSMP1
Upstream JV(s)
Midstream JV(s)
Downstream Offtaker(s)
Methanol
SPA(s)
Phase 1
Focus Area
JV or GSA Supply
Phase 2
Focus Area
LNG SPA(s)
3 MEO Australia Limited
Tassie Shoal: Economic enabler for stranded gas
Bringing the infrastructure to the fields, overcoming distance & CO2 issues
ABADI
Joint
6 GREATER SUNRISE
1
Indonesia
Australia 5
3 BAROSSA
EVANS SHOAL
9+ potential gas sources:
Methanol: (high CO2 gas)
Petroleum Development Area
BAYU-UNDAN
BLACKWOOD
N T / P 6 8 HERON
2
4 CALDITA
Darwin
}}}
1 Blackwood NT/P68 (MEO/ENI)
2 Heron NT/P68 (MEO/ENI)
3 Evans Shoal NT/P48
4 Caldita NT/RL6
5 Barossa NT/RL5
PETREL
LNG: (low CO2 gas)
FRIGATE
7
TERN
6 Greater Sunrise (WPL/COP)
8 W A 4 5 4 P
7 Petrel/Tern/Frigate
BREAKWATER
(MEO 50%)
BLACKTIP
WA-488-P
(MEO 100%)
9
Beehive
Prospect
TURTLE BARNETT
(GDF/STO)
8 Breakwater/Promenade
WA-454-P (MEO/ORG)
9 Beehive WA-488-P (gas case) (MEO)
0 100.0 kilometers
4 MEO Australia Limited
Unprecedented regional resource appraisal
TSMP commercialisation opportunity aligned with resource appraisal timing
2012 2013 2014
Appraisal Drilling Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Heron Tight gas
Evans Shoal Successful
Blackwood
Barossa/Caldita
Methanol Offtake
Expressions of Interest
Letters of Intent
Midstream Operations
Cost and technology updates
Evaluate JV structures
TSMP Gas Supply
MEO Approach to Gas Suppliers
Joint Approach to Gas Suppliers
Exploration Drilling
Breakwater Prospect (Origin Energy) Beehive Prospect (Commitment well) Promenade Lead
Current
3 wells
2015+
• Position commercial framework to support gas
supply discussions
5 MEO Australia Limited
TSMP Methanol Demand
Initial unconstrained EOI's (7) to shortlisted preferred foundation buyers (3)
8.25MTA
7.00MTA
5.25MTA
Shortlisted Foundation Buyers' Maximum Offtake*
3.50MTA
TSMP1 & TSMP2
Capacity
1.75MTA
7 3
TSMP1 Capacity
Feb 2012
EOI's
(Apr 2012)
LOI's
(Feb 2013)
* from MEO equity offtake only
6 MEO Australia Limited
TSMP Commercial Framework
Present best alternative for stranded regional resources
Upstream Gas
Producer
Raw Gas
Buyer
TSMP Midstream Operator
Methanol
Seller
Methanol
Buyers
Jointly, MEO and TSMP Midstream Operator
Asian based multinational chemical industry participant
TSMP Midstream
Operator
MEO
TSMP Midstream
Operator own use
MEO LOI parties
Raw Gas Purchase Key Terms
Project "Letters of
Support" Provided
7 MEO Australia Limited
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MEO Australia Limited
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MEOAustralia
lnquiry into Australia's relationship with
Timor-Leste
Estimated Costs
(USSM)
Tassie ShoallNG - an initiative to support economie outcomes for
Timor- este
NewGas
(-170t<ms)
Piant
FPSO Liquìds Removal 1,000 1,000 -1,000
1,300
-$28
saving vs
Pipeline fromSunrise
440
860
-440
Darwm
Onshore
MEO Australia Limited
'1111[011_.... •-'
LNGTank 425 410 15 -410
Jetty Structure/Topsides 300 410 -110 -410
Project Development &
. TL TaK Jur1s<hc.hon
Owners Costs
250 360 175 75 185
-$48
saving
...__
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Upstream 2,500 2,500 2,500
Total 8,440 10.100 6.280
Uni Cosi Sltpa 2,344/t 2,806/t 1,744/t
VS FLNG
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Auat Tax Junsdtehon
FI.NG-· tom -p.AIIoohocl-- ..->$CO, 0011 _b<Nd....ngs ...
CMATS :
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MEO's fii/l submission available on www.meoaustralia.com.au/projects/Tassie Shoal Projects
MEO Australia Limited
By 2015…3 potential gas sources appraised…
Commercially positioned to move TSMP forward…..
• Evans Shoal
• Blackwood
• Barossa/Caldita
• ENI to nominate second Heron well option by 18th December, 2013 or withdraw from Heron Area
Thank you for your attention
10 MEO Australia Limited