ubs 2009 australia energy conference

Nice to see EWC get a mention amongst the big boys. Notes, all old news, to follow.

UBS 2009 Australia Energy Conference Notes (17-19 June 2009)

UBS Investment Research

UBS 2009 Australia Energy Conference Notes

Woodside size matters. Oil Search on the cusp. Worley Parsons is in LNG.
Woodside has size in Australian LNG and this lowers costs. Woodside has also proven to be a reliable LNG supplier backed by quality world class assets. Oil Search is on the cusp of committing to PNG LNG and is considering expanding the project. WorleyParsons has involvement in 11/18 LNG projects in Australia – PNG.

Caltex is market focussed. AWE is exploration. Beach is consistency.
Caltex is focussed on improving its transport fuels and convenience business. AWE is exploration driven ($200m over 15 to 18 months). Beach's strategy is to deliver consistent, targeted growth. Karoon thinks the pre-drill Poseidon contingent resource estimate will be met, or even exceeded.

RLMS sees rapid CSG production growth. Arrow focuses on operations.
RLMS believes coal seam gas (CSG) will become the predominant form of natural gas used in Eastern Australia. Is proposed total ultimate Gladstone area LNG capacity of 60 mmtpa and a target 20014/15 start up for all the Curtis LNG projects realistic? Arrow has the largest CSG acreage position in Australia and sees operational excellence as the key to success in CSG. Eastern Star Gas has the largest NSW CSG acreage. Bow Energy has strategic 100%-owned CSG acreage.

EWC LNG niche. Roc is tightening operations. Nexus focus is Longtom.
EWC is developing standard modular LNG production trains. Roc is introducing tight controls, including re-phasing works and farming down drilling exposure. Nexus priorities are delivering Longtom, maintaining optionality for the commercialisation of Crux, and progressing Echuca Shoals appraisal.