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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A New Approach to Asian Energy 已关
RIGHT COMPANY ��*] RIGHT TIME ���� RIGHT PLACE ����
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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
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实 ⽽而 之⼩小 等 ⼆二 要 ⼊入 ! Lion ⾏行 情 早 太 没 世 点回
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得 ⽂文对⻓长些 早 的 动 等 发在 试
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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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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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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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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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Indonesia’s investment rationale �7v3x�L_+X A unique opportunity in SE Asia 有 得
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• 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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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
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437 o
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Lofin-2 wellsite/Lofin-2�1 Lofin Structure
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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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Indonesian World Class Oil/Gas Basins �7v3x,6E�U'��
l ZS TU e R U MZP SM Q M U Zl U Z M SQ UZS Ga M MZ NM UZ R UZWQP O ZbQZ U ZM (aZO ZbQZ U ZM M QSe% /. R Z T QO ZbQZ U ZM Q Q bQ % SM M WQ MOOQ UZR M aO a Q ( U Z r (
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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)
8U O bQ QP TeP OM N Z UZ ZP ZQ UMZ Z T Q bUZOQ w
Sumatra is Indonesia’s most established hydrocarbon province 前 取 明 更 新全
May 2015
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20 A New Approach to Asian Energy www.lionenergy.com.au May 2015
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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23 A New Approach to Asian Energy www.lionenergy.com.au May 2015
IG aZO ZbQZ U ZM QdM Q
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
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1.5
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Nth Sumatra
East Cent Sum
West Cent Sum
SBA Unconv
NW Nth Sum
Sumatra New
Ventures
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JS Application 地 意被
JS Awarded 地 意被
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24 A New Approach to Asian Energy www.lionenergy.com.au May 2015
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
n z
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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