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Pre-conference summit, 3 November 2008
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| RAISING CAPITAL IN ASIA |
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Objective:
Juniors and other oil & gas companies raising capital commonly use IPOs and project financing to raise capital. There are however several other ways capital can be raised, the most interesting of which is the various ways juniors can raise capital through equity. Although the 3-day conference will feature case studies of these different options it will not cover the finer details that will help you in putting these methods for your company’s practical use. If you want to gain in depth understanding of what these capital raising options are, what their advantages and disadvantages are vis a vis the other options and know what the step by step process is for you to actually get that fund, register for this whole day, highly interactive, in-depth learning summit.
Target audience:
This summit is especially intended for the CFOs and the entire finance department of junior oil & gas companies who are looking to raise capital in Asia
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| Session 1:
IN DEPTH UNDERSTANDING OF THE VARIOUS CAPITAL FUNDING OPTIONS IN ASIA |
- Identifying the various capital funding options in Asia and comparing their advantages and disadvantages against each other
- Knowing the step by step process and requirements to access the capital from each of the options
- Understanding the risks and mitigating them to protect your business
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| Session 2:
LISTING IN ASIA’S STOCK EXCHANGES TO RAISE CAPITAL
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- What are the requirements in Asia different from the requirements of other exchanges in Europe, US and Australia?
- Reaching out to the Asian investor to raise capital by listing in Asia
- Weighing the risks in listing in Asia
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| Session 3: PRESENTING A BANKABLE PROJECT FOR INVESTORS
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- Understanding the criteria investors check before making an investment
- Writing a fool-proof proposal and profile that will bring you capital
- Other tips and strategies to attract investors
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Day One, 4 November 2008
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9am | Chairperson’s Opening Remarks
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| REGULATORY AND INVESTMENT OUTLOOK |
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9.30am | Asian government dialogue: Current and impending regulatory developments to attract foreign participation
In this session, regulators across 10 different countries in Asia will share how they are restructuring their fiscal policies to encourage private sector investment. Each country will present for 10 minutes followed a 15 minutes open forum.
- Updates on regulations and concession/PSC rights given by each country
- Laying out incentives and taxation offered to IOCs and small and mid-cap oil companies
- Identifying future infrastructure developments that will better ensure oil companies gain from their investment
- What are the risks and challenges that investors have to be aware of and what are the strategies in mitigating them?
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| | V.K. Sibal, Directorate General, Ministry of Petroleum & Natural Gas Ho Vichit, Vice Chairman, Cambodian National Petroleum Authority Dingming Xu, Director General, National Development and Reform Commission
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11am | Networking coffee break
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| INVESTMENT OPPORTUNITY IN CHINA & MONGOLIA
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11.30am | Country entry strategies to acquire oil and gas concessions in China and Mongolia
- Overview of the investment climate in China and Mongolia’s oil and gas reserves
- Successful case studies of IOCs and small, mid-cap oil companies
- Assessing future trends and the factors that will invite more private and foreign sector participation
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11.50am | Junior perspective: Strategies for a PSC in China
- Leveraging on Fortune Oil’s PSC experience with the Chinese regulators
- Developing an integrated gas network in China
- Importance of relationships in a dynamic regulatory environment
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12.10pm | Oil exploration in Mongolia
- Understanding the oil regulatory and investment climate in Mongolia
- Acquiring a PSC and the subsequent practicalities of exploration
- Investing in Mongolia - current trends and political/economic policies
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12.30pm | Q&A with session speakers
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1pm | Networking lunch
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| INVESTMENT OPPORTUNITY IN INDIA |
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2pm | Bankable project: Exploring India and Asia’s oil and gas reserves
- Profiting from E&P projects in India
- Comparing investing in India and Asia with other regions; why Asia?
- Oilex’s profile and investible feature; why invest in Oilex?
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2.20pm | Bankable project: Operating the Amguri Development Block in Northeastern India
- Understanding the profitability of developing the Amguri and AA-ON/7 block
- What are the future plans and strategy of Canoro Resources in India and the rest of Asia?
- Mitigating the challenges and bottlenecks along the way
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2.40pm | Bankable project: Nine onshore and three offshore blocks for oil, gas and CBM in India and beyond
- Maintaining a balanced portfolio of exploration and production assets: why is this important?
- Obtaining the rights for the development of CBM in India: how economically viable is it?
- Mitigating cost issues and dwindling engineers
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| | S. R. Agrawal, Executive Director - Exploration & Production, Essar Oil
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3pm | Q&A with session speakers
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3.30pm | Networking coffee break
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| ACCESSING CAPITAL THROUGH PRIVATE EQUITY AND INSTITUTIONAL INVESTORS |
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4pm | Private equity panel: Opportunities for private equity in Asia’s oil & gas sector
Appetite for investing in Asia’s oil & gas projects versus other regions
Understanding key investment options, evaluation criteria and portfolio allocation strategies
Assessing returns and risks in investing in majors versus small and mid-cap oil companies
Identifying your exit points to protect your capital
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| | Moderator: Marvin Yeo, Managing Partner, Frontier Investment & Development Partners
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4.45pm | Institutional investor: Allocation strategies to the oil & gas sector to leverage on the high energy prices
- High risk, high return: should institutional investors consider diversifying their portfolio to a traditionally high risk sector
- Understanding portfolio management strategies adopted by leading institutional investors in the sector
- Assessing key investment options, evaluation criteria and portfolio allocation strategies
- Evaluating returns and risks in investing in majors versus small and mid-cap oil companies
- Identifying your exit points to protect your capital
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5.15pm | Chairperson’s Summary & Closing of Conference Day One
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5.35pm | Speed Networking and cocktail reception
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6pm | Beatles’ themed Cocktail Party
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Day Two, 5 November 2008
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9am | Chairman's opening remarks
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| THE ROLE OF ASIAN NOCs & IOCs IN SECURING GLOBAL ENERGY SUPPLY |
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9.15am | International keynote: Partnership and collaboration strategies in Asia
- Understanding IOC perspective on Asia’s oil and gas reserves versus E&P in mature locations such as in the North Sea and the Gulf of Mexico
- Opportunities in Asia: Where should exploration companies be looking at?
- Understanding IOCs commitment to invest more in technology advancement to enhance oil recovery
- Partnerships with NOCs and juniors: What is the current situation in Asia?
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| | Greg Hill, EVP - Exploration & Production, Asia Pacific, Shell Exploration & Production
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9.45am | NOCs panel discussion: Understanding the need to collaborate and the role of each to supply unmet global oil and gas demand
- Will the global oil and gas demand be met with more investments and collaboration?
- NOCs perspective on collaborating with IOCs; Are they ready to share their access to oil and gas reserves to IOCs who have the expertise and technology to hone from more difficult locations?
- What do NOCs expect from IOCs in such collaboration?
- What do IOCs expect from NOCs?
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10.30am | Networking coffee break
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| PROJECT FINANCING & LEGAL ASPECTS IN OIL & GAS |
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11am | CFO Panel: Junior’s perspective in attracting capital in Asia
- Identifying how capital is raised and evaluating its successes
- Assessing foreign investors’ appetite vs. Asian investors’ appetite for oil and gas projects in Asia
- Surveying best place/s to raise capital and why
- Appetite for mergers, acquisitions and joint ventures
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11.30am | Utilising project financing as a means to raise capital: Issues and opportunities
- Status of Asia’s local currency bond market and its impact on oil and gas project financing
- How will the volatile debt market today impact project financing? A square look at its advantages and disadvantages
- Impact of size, technical complexity and project quality
- Risk assessment and the “Bankable Feasibility Study”
- Understanding how proposals and projects can get better financing deals making them more bankable
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12pm | Understanding the legal characteristics of oil and gas financing and transactions in Asia
- Identifying the legal characteristics of oil and gas financing and transactions
- Mitigating financing risks through legal provisions
- Knowing what the fair allotment of liabilities and indemnities are between each party
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12.30pm | Networking lunch
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| INVESTMENT OPPORTUNITY IN INDO-CHINA & THE PHILIPPINES |
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1.30pm | Developing a country-entry strategy to vie for joint-venture exploration projects in Vietnam’s offshore basins
- Understanding the impact of a country entry strategy in the Asian context
- Considering criteria in developing a country-entry strategy
- Surveying various options in entering into concessions/PSCs in Asia
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1.50pm | Bankable project: Creating shareholder wealth from early cash flow in the Calauit Field
- Why Philippines? Attractiveness of the regulatory and concession framework in the Philippines
- Assessing production in the Calauit Field: Is it producing on target?
- Challenges and risks in operating in the Philippines
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2.10pm | Bankable project: Operating Cuu Long Basin in Vietnam and Western Basin in Thailand
- Checklist before considering a country’s upstream oil and gas block offers
- Comparing the investment climate in Africa and Asia
- Market capitalisation and ROI
- Challenges in listing in Asia and Africa rather than in London
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| | Antony Maris, Vice President – Operations & Production, Soco Energy
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2.30pm | Investment opportunity in Cambodian oil and gas
- Understanding the macro and micro factors that makes Cambodia a hot investment destination
- Current investor appetite in Cambodia and in oil and gas
- Assessing the risks and returns
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| | Marvin Yeo, Managing Partner, Frontier Investment & Development Partners
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3pm | Networking coffee break
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| INVESTMENT OPPORTUNITY IN INDONESIA |
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3.30pm | Supporting a conducive investment climate for upstream oil and gas activities
- The Ministry of Energy, Directorate for Oil & Gas, Pertamina EP and BP Migas: what are their relationships with each other and what is BP Migas’ role and impact on the investor
- Understanding BP Migas’ strategy to increase oil & gas production and decreasing cost recovery as Indonesia’s executive agency for oil and gas E&P
- Identifying the challenges in policing PSCs and compliance of oil and gas regulations; how can oil companies help?
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4pm | Bankable project: Established hydrocarbon-producing basins vs. untested basins
- Balancing a portfolio of established vs. untested basins: Why is this important?
- Why Indonesia? Established or untested
- Assessing the investment climate in Indonesia and mitigating the challenges
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4.20pm | Bankable project: Monetising major natural gas discoveries at the Corridor Block to deliver future production growth
- Update on the status and production capacities of the Corridor Block
- A review of other upstream projects in Indonesia and the profitability of each
- Advantages and challenges in investing in Indonesia
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4.40pm | Bankable project: Coal seam gas exploration & production in Indonesia and other parts of Asia
- Understanding coal seam gas in meeting the world’s increasing demand for cleaner energy
- Comparing exploration of coal seam gas with hydrocarbons; is more commercially viable
- Challenges in doing business in Indonesia and the rest of Asia vis a vis the climate in Australia
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5pm | Q&A with session speakers
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5.30pm | Chairperson’s summary & closing of conference day two
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6pm | Asian Oil & Gas Dinner party
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Day Three, 6 November 2008
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9am | Chairperson’s Opening Remarks
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| | David Robson, Chairman, President and Chief Executive Officer, Tethys Petroleum
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| CAPITAL MARKETS & RISK MANAGEMENT IN ASIA |
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9.15am | Investment banks panel: Capital growth, buyouts, and accessing Asia capital market
- Comparing Asia’s capital market versus other traditional destinations such as London, New York or Australia
- Investor appetite for oil & gas projects in Asia versus other parts of the world
- Key opportunities and challenges for oil & gas companies to raise capital in the region
- Understanding different options and channels in raising capital
- Raising capital in different exchanges: what are the pros and cons
- Evaluating opportunities for small and mid-cap oil companies in this market
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| | Yash Kaman, Executive Director, Investment Banking, Energy & Natural Resources, JP Morgan
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10am | Surveying political, operational and financial risks and learning how to mitigate your investment risks in Asia
- Identifying the political, operational and financial risks that impact financing
- Impact of political, operational and financial risks on financing
- Knowing how to mitigate investment risks
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10.30am | Networking coffee break
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| AUSTRALASIAN FOCUSED INDEPENDENT OIL COMPANIES |
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11am | Developing Central Asia’s gas resources
- Understanding Central Asia’s huge potential for the production of natural gas which is currently underexploited, particularly in countries such as Kazakhstan and Tajikistan
- Opportunity to market these gas resources to meeting China’s and East Asia’s energy demand with the opening up of gas pipelines to China
- Leveraging on Tethys Petroleum Limited’s development of dry gas resources in Kazakhstan
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| | David Robson, Chairman, President and Chief Executive Officer, Tethys Petroleum
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11.20am | Investment opportunities in Papua New Guinea
- Understanding the opportunities and mitigating the challenges faced in exploring and developing PNG’s oil and gas reserves
- Various options used and listing in various exchanges to raise capital: what are the advantages and disadvantages
- InterOil’s profile: Past, present and future capabilities and achievements
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11.40am | Continuing growth as an exploration and production company: Why invest in Cue Energy?
- Understanding Cue Energy Resources’ profile from its management team to its existing current strong shareholder confidence
- Geographic coverage and project showcasing in Australasia: Updates and achievements
- Future plans and strategies ensuring sustained growth as an oil company
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12pm | Q&A with session speakers
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12.30pm | Networking lunch
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| ACCESSING CAPITAL THROUGH FUNDS AND HIGH NET WORTH INDIVIDUALS |
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2pm | Fund & asset management panel: Asset allocation to the energy sector in Asia through investing in the equities of oil majors
- Knowing global asset management houses perspective in investing in Asia’s oil and gas; what to you is its viability as an asset class
- Outlook on this sector’s profitability
- Weighing Asia’s oil and gas’s worth and knowing how much to allocate
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| | Vijay Sethu, CEO, CIMB Standard Strategic Asset Advisors Dennis Zhao, Investment Director, Future Trends International
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2.45pm | Reaching out to high network investors for more capital
- Validating investor appetite for Asia’s oil and gas
- Assessing the ROI in investing through securities vs. other investment options into Asia’s oil and gas
- Weighing the advantages and disadvantages through securities
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3.15pm | Equity analysis of oil and gas companies in Asia
- A comparison of oil & gas companies in Southeast Asia, mainly Indonesia and Thailand, with other companies in the region
- Why fund raising in capital markets is necessary due to the business’s capital intensive nature
- Identifying the problems they faced in the past via raising funds in the equity market compared with other fund raising options
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3.45pm | Chairperson’s closing remarks and end of conference
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4pm | Final networking refreshment
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Post-conference summit, 7 November 2008
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| NEGOTIATING CONCESSIONS/PSC & IDENTIFYING LEGAL IMPLICATIONS OF FINANCIAL TRANSACTIONS |
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Objective:
After acquiring critical, detailed inside information about how to raise capital effectively in the pre-conference summit you are now ready to look at the legal issues and implications in every oil and gas contract and financial transactions. This interactive day-long summit will allow you to examine PSCs/concessions so you will discover in detail what your rights are and how you can protect them. This will also help you understand the legalities of accounting, tax and audit transactions as well as those of project financing and other capital raising means so you’ll never have to just sign, seal and deliver without clearly understanding every implication.
Target audience:
This summit is especially intended for the CFOs and the entire finance department of NOCs, IOCs and juniors
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| An overview of the different forms of authorization for carrying out petroleum operations |
o Licences
§ Exclusive; Non-exclusive
o Contracts of work
§ Risk contacts
· Production sharing contracts; Risk service contracts
§ Non-risk contracts
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| Petroleum legislation and the forms of authorization |
o Overview of principal provisions
o Principal provisions of exclusive licences
§ Standard provisions
§ Particular provisions
o Principal provisions of production sharing contracts
§ Standard provisions
§ Particular provisions
o Principal provisions of risk service contracts
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| An overview of the financial terms applicable to authorizations (“Government take”) |
o Licence regimes
§ Royalties/production fees; Area fees; Bonuses
§ Net/gross profit from production (“profit sharing”)
o Fiscal legislation
§ Income tax
· General (“corporation tax”); Specific (“special petroleum tax”); Interrelation of general and specific income tax
§ Excess profits tax
§ Other duties
· Export duty; Import duty
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| Other legislation |
o Legislation not specifically applicable to petroleum or petroleum operations that also regulates the conduct of petroleum operations
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| An overview of the position in Asia |
o Comparison with what is happening elsewhere
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| Issues in the negotiation and drafting of forms of authorization |
o What is negotiable?
o Managing the process and dealing with delay
o Avoiding future disputes
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| Issues in the financing of upstream petroleum operations |
o Providing security for performance
o Sources of finance
§ Debt, Equity & Third party participation
o Legal challenges to be faced and issues to be addressed
o Avoiding future disputes
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6pm | Masterclass leader
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