Ann: Enercom Oil and Gas Conference - Presentation, page-7

Below are my notes after listening to conference (pretty much the same as cmon)

The only thing I missed was the $5M capital cost - will listen again later, without making notes at same time. Would love to hear that as that then ticks off every box again

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• 15% cagr over 18 production rate
• SEA has previously made capital gains from proving up assets.
  • $200M from capital gain of first asset
  • $80M bakken
• PXD acreage cost PXD $13-$15 to move oil to market due to onerous midstream contract. SEA now do this at $3/boe (as the contract would have had a change of control clause allowing it to be broken via acquisition). This is important as the cost of $10+/boe would have made it uneconomical to PXD, i.e. hence their reason to sell. $10/boe on $18/boe is a significant synergy and indicates how Eric has added value to shareholders from this transaction.
• No stretch of balance sheet, but have the ability to flex capital should we wish to (i.e if Oil prices rise)
• $33 to $35M in interest per annum, roughly $35M per quarter EBITDA
• Modestly levered balance sheet compared to peers
• 30-35% of shares is currentlyheld by US investors
• SEA acreage bound by Marathon, Conoco and EOG demonstrating quality of acreage
• 2 x La Salle wells being drilled soon
• 275-300 feet well density, giving them ability to access new reserves
• Sales
  • 70% through shipping channel
  • 30% through CC (premium to WTI)
• Live Oak and Atascosa 18/24 wells, >80% oil initially, reduces over time
• 12 new wells coming on this quarter
  • 1 x 4 well pad come online already
  • 1 x 4 well pad coming online tomorrow
  • 4 wells currently being fracked
• SEA Acquisition wells preform better than larger operators (as per report)
• Lock in hedging for 12-24 months, before capital committed, 80% of production volumes - this locks in return of capital plus small return on capital. This is important because it indicates that 80% of production over 2 years is sufficient to repay capital plus some extra (i.e. interest) and the recent type curve outperformance appear to support this.
• Fast paybacks on wells
• Fcf generative by end of year - gives incremental ability to invest in other things.
• $350M debt outstanding - 1.8x EBITDA

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https://hotcopper.com.au/threads/gmc-liquidity-position.4903361/?post_id=39969529
As for our pest, cmon if you have time review this post - how does a company go from $11M debt to nil with only $4M repayment of borrowings. Have reported this to ASX!
Call it pest control