Petsec Energy Ltd Stock Market Press Releases and Company Profile
Petsec Convertible Note Facility Presentation
Petsec Convertible Note Facility Presentation

Sydney, Aug 23, 2016 AEST (ABN Newswire) - Petsec Energy Ltd (googlechartASX:PSA) (googlechartPSJEY:OTCMKTS) are pleased to provide the latest Company Presentation regarding the Convertible Note Facility, 23 August 2016.

Executive Summary

- Petsec Energy Ltd ("Petsec") has established a US$15 million secured convertible note facility.

- The facility will be used, together with existing operating cash flow and working capital, to fund development / oil production capital expenditures over the next 12 to 18 months.

- The capital expenditure programme includes:

-- Hummer gas/oil discovery (Main Pass Blocks 270/273/274) -development of a four pile platform, well testing and production facilities for production of the initial well.

-- An Nagyah Oilfield in Block S-1, Yemen: re-start of oil production by end of 2016.

-- An Nagyah Oilfield: optimisation of production to exceed 5,000 BOPD.

-- Potential acquisition of additional oil reserves in the MENA region.

Petsec Energy Ltd -Investment Value Proposition

- Strong management and technical team with extensive knowledge & experience

- Significant assets with potential for significant reserve, production & cash flow growth

-- Reserve growth of 3000% achieved in FY2015

-- Net 2P reserves of 9.3 MMboe as of 1 January 2016:

- USA:3.7 MMboe predominantly from the Mystic Bayou Field

- Yemen:5.6 MMboe (An Nagyah Oilfield only)

-- Reserve & production growth will be driven by:

- Development of Hummer gas/oil discovery on the Main Pass Blocks 270/273/274 in the shallow waters of the Gulf of Mexico, USA

- Restart of production from the An Nagyah Oilfield in Block S-1, Yemen

- Incremental increase in production and reserves from the An Nagyah Oilfield through infill drilling
- Yemen leases provide potential for significant upside through further development & exploration

To view the presentation, please visit:
http://abnnewswire.net/lnk/36777BKU


About Petsec Energy Ltd

Petsec Energy LtdPetsec Energy Ltd (ASX:PSA) (OTCMKTS:PSJEY) is an independent oil and gas exploration and production company listed on the Australian Stock Exchange. It has operations in the shallow waters of the Gulf of Mexico and state waters of the Louisiana Gulf Coast region of the USA, and exploration activities in the Gulf Coast onshore and bay areas of Texas and Louisiana, USA and Yemen.

abnnewswire.com 


Contact

Paul Gahdmar
Company Secretary & Group Financial Controller
Petsec Energy Ltd
T: +61-2-9247-4605

Mr. Manny Anton
Head of Investor Relations
Petsec Energy Ltd
T: +61-2-9247-4605
www.petsec.com.au



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