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RIU GoodOilConference Perth attracts oil and gas plays on the hunt for juniors

Vertical Events’ managing director expects the conference might prompt some merger and acquisition activity.

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Oil and gas professionals are converging for networking in Perth

RIU GoodOilConference Perth kicks off tomorrow morning in East Perth, with a number of large and medium-sized companies attending to see what junior companies will be up to in the coming year.

Vertical Events managing director Stewart McDonald told Proactive Investors this year’s GoodOil was 20% bigger than the event had been for the past few years, reflecting the state of the industry.

McDonald said: “There’s a bit more interest in oil and gas, especially onshore. There’s been a couple of success wells, so that helps the mood of the junior industry, that they feel like there’s a chance.

“We’re also seeing that the mid-sized companies and the big companies are attending because they want to have a look at what the little companies are doing — they’re all cheap at the moment and if they find a company that they like, who knows, there could be some mergers and acquisitions in the pipeline.

“There’s a little bit more interest than there was for the past couple of years and that is reflected in the share prices of some the companies.”

Wednesday morning early session

Argonaut research director Michael Eidne will deliver the low-down on the current state of the industry in his opening address.

Eidne will take the stage at Hyatt Regency Perth hotel at 8.40am after an introduction from Vertical Events resources manager Doug Bowie.

READ: RIU GoodOilConference Perth and WA Petroleum Day to put oil and gas players centre stage

Central Petroleum Ltd (ASX:CTP) acting chief executive officer Leon Devaney will speak at 9am to deliver the first company presentation of the day before the John Doran Award is announced at 9.20am.

Among the industry players presenting on Wednesday morning are Hazer Group Ltd’s (ASX:HZR) chief technical officer Dr Andrew Cornejo at 9.45am and Whitebark Energy Ltd (ASX:WBE) managing director David Messina at 10am.

READ: Hazer Group to move pilot plant to Mineral Resources site

Hazer’s Cornejo spoke to Proactive Investors’ Stocktube video channel two weeks ago, telling anchor Danielle Doporto the company’s recent highlights included pilot plant testing with results beating production targets by 300%.

 

Late morning session

After morning tea Westpac Banking Corp’s (ASX:WBC) (NZE:WBC) (FRA:WBC) (NYSE:WBK) Westpac Institutional Bank economics director Justin Smirk will continue perspectives on the future of the buoyant industry with a session titled Trump, China, & Electric Vehicles. What is Next for Oil & Gas? at 10.50am.

Pancontinental Oil & Gas NL (ASX:PCL) executive director and CEO John Begg will speak at 11.10am, followed by Winchester Energy Ltd (ASX:WEL) managing director Neville Henry at 11.25am, Melbana Energy Ltd (ASX:MAY) CEO Robert Zammit at 11.40am and Comet Ridge Ltd (ASX:COI) managing director Tor McCaul at 11.55am.

Coal seam and sandstone gas company Comet Ridge’s McCaul spoke to Stocktube last Thursday at the inaugural ASX Small and Mid-Cap Conference at Sydney’s Darling Harbour, acknowledging the company had more time for an investment decision at Mahalo project in Queensland’s Southern Bowen Basin and highlighting a well at the site had exceeded expectations.

READ: Comet Ridge adds time on Mahalo final investment decision

The Queensland Government’s state-owned Stanwell Corporation Limited moved the final investment decision for Mahalo block to September 30, 2019, and may negotiate a gas buyer’s agreement by July 15, 2019.

Comet Ridge is managing the exploration project for a joint venture it holds with Santos (ASX:STO) (OTCMKTS:SSLZY) and major player venture APLNG — a marry-up of Origin Energy Ltd (ASX:ORG) (FRA:ORL) (OTCMKTS:OGFGF) (OTCMKTS:OGFGY), ConocoPhillips (NYSE:COP) and Sinopec (NYSE:SNP) (HKG:0386) (SHA:600028) (NYSE:SHI).

 

Early afternoon presentations

Lion Energy Ltd (ASX:LIO) executive chairman Tom Soulsby will speak at 12.10pm on Wednesday while Carnarvon Petroleum Ltd (ASX:CVN) managing director and CEO Adrian Cook will give an address at 12.25pm before lunch.

Cook will speak at the upcoming Proactive CEO Sessions next week, on Monday in Sydney and Tuesday in Melbourne, about the company’s development projects on Western Australia’s North West Shelf.

READ: Carnarvon Petroleum to relate its oil and gas story at Proactive CEO sessions

RISC managing partner Martin Wilkes will open at 1.40pm after lunch with Unravelling the Mysteries of Investing in Exploration at 1.40pm.

Wilkes will be followed by Real Energy Corporation Ltd (ASX:RLE) executive director and CEO Scott Brown at 2pm, TAG Oil Ltd (TSX:TAO) chief operating officer Henrik Lundin at 2.15pm, Sun Resources NL (ASX:SUR) managing director and CEO Alexander Parks at 2.30pm, Bengal Energy Ltd CEO Chayan Chakrabarty at 2.45pm, ADX Energy Ltd (ASX:ADX) executive chairman Ian Tchacos at 3pm and New Zealand Oil & Gas (NZX:NZO) CEO Andrew Jefferies at 3.15pm.

TAG Oil Ltd’s (TSE:TAO) CEO and former mining geologist Toby Pierce presented at the Oil Capital Conference in London last Tuesday, saying Australia features “fairly heavily” in the producer’s future growth plans.

Pierce said during his recorded Northern Hemisphere presentation shown online at Proactive Investors: “We expanded into Australia in 2017, we’re just negotiating with the government on two additional blocks which we hope to be in a position to announce towards the end of (Australia’s) summer.”

The company, an experienced operator in New Zealand, expanded into Australia with the acquisition of a petroleum lease in the Surat Basin of Queensland at the start of last year.

 

Late afternoon session

Returning from afternoon tea, Geoscience Australia onshore energy systems section leader Paul Henson will speak at 4.05pm on Exploring for the Future — Discovering the Hydrocarbon Potential of the McArthur Basin to Isa Superbasin with New Data.

Henson will be followed by Transborders Energy Pty Ltd chief financial officer Anna Sudlow at 4.25pm, Emperor Energy Ltd (ASX:EMP) managing director Carl Dumbrell at 4.40pm, Horizon Oil Ltd (ASX:HZN) CEO Michael Sheridan at 4.55pm, Calima Energy Ltd (ASX:CE1) managing director Alan Stein at 5.10pm and Beach Energy Ltd (ASX:BPT) group exploration and development executive Jeff Schrull at 5.25pm.

Conference drinks will then follow at 5.40pm in the exhibition area.

To view the GoodOil Wednesday program or register for the conference, visit the RIU GoodOilConference website.

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