New Zealand Oil and gas
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CEO Address to Special Meeting Of Shareholders

Posted on 24 June 2021

 

Ladies and gentlemen,


One of our major strengths as a business is our expertise in evaluating assets.

The excellence of your company’s staff has added value for you in the past, such as when we were able to motivate our partners to agree to development projects at Kupe.

Confidence in our assessment of resource volumes, provides confidence in the value of assets.

This means we don’t pay too much for assets that come to market. It also provides confidence in our assessment of the financing requirements and returns.

The evaluations for each of the assets in this transaction are set out in the Notice of Meeting.

The assets we are talking about today are in the Amadeus basin in the middle of Australia’s redcenter. The fields are 3 and a half hours north of Ul uru and 3 hours west of Alice Springs, in thelocality of the aboriginal community of Hermannsberg (or Ntaria) on the traditional lands of theArrernte people.

As an aside for those who have not ventured outside of Australian cities:

  • First, you should. It is in the emptiness that you can feel the “spirit of place”.
  • Secondly once in the outback distance is described in hours rather than distance, as 50 km on blacktop highway can take half an hour, on bush track in the wet half a day.

Its rugged natural beauty was described by explorer Ernest Giles in 1872,  “its springs, glens, gorges,ferns, cycads and flowers would charm the eyes and hearts of toil-worn men”.

It is the home of the famed landscape artist Albert Namatjira, a couple of examples of his work were on our title slide. His Hermannsberg style endures through the Iltjar NTjarra workshop in AliceSprings (www.manyhandsart.com.au).

Now let's jump into the “Landy” and take a little tour through those assets in detail.