Why Invest in Petsec Energy?

Why Invest in Petsec Energy?

Experienced Board and Skilled Management Team

  • Extensive operational knowledge and experience in the USA and MENA regions
  • Proven track record of success

Historical Exploration Success

  • Strong record of conventional exploration success in the USA
  • In the USA, in the period from 1991 to 2018 Petsec Energy has drilled over 100 wells with a 74% success rate, and generated net production of approximately 216 Bcfe and EBITDAX in excess of US$548 million

Large Growth Potential

  • USA – focus on high impact conventional exploration, in mainly gas/condensate and oil rich areas onshore Louisiana and in the shallow waters of the Gulf of Mexico
  • Net 2P reserves of 3.8 MMboe with a NPV10 of US$34.8 million at 1 January 2018 (Cawley, Gillespie & Associates)
  • MENA – 100% working interest in Damis (Block S-1) Production Licence in Yemen and  operatorship. Area contains five sizeable, oil and gas discoveries including the developed/productive An Nagyah Oilfield complete with surface facilities to process and transport 20,000 bopd
  • The An Nagyah Oilfield is estimated to have remaining net 2P reserves of 5.6 MMbbl with a NPV10 of US$155.4 million at 1 January 2016 (DeGolyer and MacNaughton)
  • 100% working interest and operatorship in Block 7, Yemen. 25% working interest pending customary approvals from Ministry of Oil and Minerals.
  • Block 7 contains the undeveloped Al Meashar oil discovery (target resource of 11 MMbo to > 50 MMbo) plus eight high potential prospects/leads in a large lease area covering 5,000 square kilometres with target sizes ranging from 2 to 900 MMbo gross

Current Share Price Trading at Large Discount to Net Asset Value

  • USA producing fields – Mystic Bayou Field (Williams No.2 well) and Jeanerette Field (Adeline Sugar Factory No.4 well)
  • USA development fields – 12.5% working interest in the Hummer Project on Main Pass Blocks 270/273/274
  • Yemen producing fields – An Nagyah Oilfield
  • Net group oil & gas reserves (2P) as of 1 January 2018: 9.4 MMboe / NPV10 value of US$189.8 million
  • Cash at 30 June 2018: US$3.4 million
  • Convertible note facility: US$15 million (US$9 million available)