Adx Energy Ltd · ASX:ADX
Adx Energy — AuDAX Resources — Shareholder Meeting (November 2005)
51 slides from Adx Energy's shareholder meeting presentation, Nov 25, 2005
Slide 1: Resources Ltd AGM announcement and proxy results
RESOURCES LTD Incorporated in Western Australia A.B.N, 50 099 058 646 25 November 2005 The Manager Company Announcements Office Australian Stock Exchange Limited Level 4, 20 Bridge Street Sydney NSW 2000 Dear Sir The attached presentation was made at the Annual General Meeting held today at 10.30am
Slide 2: Election of Mr Leith Beal as a Director
Election of Mr Leith Beal as a Director To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That Mr Leith Beal, who retires by rotation in accordance with the Constitution of the Company, and being eligible, offers himself for re-election, is hereby re-appoi
Slide 3: Ee ERA
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Slide 4: Ian Chalmers - Independent Non-Executive Director
EEA lan Chalmers - Independent Non-Executive Director
Slide 5: Slide 5
Slide 6: Slide 6
Slide 7: Proxy votes: Abstain
22,820,983 874,000 Abstain i _— “
Slide 8: Re-election of Director resolution
Beal who retires by rota accordance with the Constitution of. the Company, and being eligible, offers for re-election, is here y re-appoint ed a
Slide 9: Proxy votes: Abstain
Abstain i _— “
Slide 10: Slide 10
Slide 11: Exploration Update November 2005
Exploration Update 25 November 2005
Slide 12: Project overview and status
»PEL 182 » Millrose » Maryimila » West Vandal » Other Projects Oil & gas leads & prospects in the highly prospective Cooper Basin, 3A. Geological & geophysical reviews completed, targets defined, clearances obtained. Granted 10 August 2006. Five well program planne: dfor Voar 1 - as soon as the rig
Slide 13: cn ( / ae ei Uy in
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Slide 14: Largest Onshore Oil & Gas Basin in Australia
La irgest Onshore OU & Gas Basin Australia REMAINING RESERVES GAS 24.3 TCP OIL 246 MMBBLS 2004 PRODUCTION GAS ; Ol: ¢ COND > 166,006 ki ETHANE: 134,006 LPG : 4 units.
Slide 15: Summary
SUMMARY PEL 182 Large under-explored area of 1,745 sq km. Previously held by Santos 1954-1999. Lies in South Australian corner of Cooper Basin, on North West flank of Patchawarra Trough. PELA-182 Known Permian oil & gas kitchen / source & reservoir. Oe Permian and Triassic zero edges cross the block
Slide 16: Cooper Basin Oil and Gas Project South Australia
aL 08, acm PEL tA ‘s PEL 8 a@ ini PRA am South Australia ‘Queensiand om nce AL Cooper Basin Oil and Gas Project South Australia PEL 182, other licences and producing oi! & gas fields PEL 182 BRIEF HISTORY industry standards. undergoing mods. Expe + EBR, ADX and AOC in negotiat to secure drill rig De
Slide 17: Geological & Geophysical Review
PEL 182 Geological & Geophysical Review Confirmed prospectivity and using standard seisimic targeting techniques i.e.: Source Rock -» Reservoir+ Seal = Trap A. Structural — simple 4-way dip closure. Numerous small to medium size gas targets — particularly in SE part in corridor between existing oil
Slide 18: Prospects & Leads
PELA-182 PROSPECTS & LEADS Medium sized oil prone Jurassic structural leads in the N.E. portion of the block. Prospects & leads G,H,1,J & K. Medium sized oil prone Permian stratigraphic leads in western portion of the block. Prospects D Small to medium sized gas prone Permian structural leads in S.E
Slide 19: Priority Targets
PEL 182 — Priority 1 Targets Proposed 5 Well _ Drilling Program eee Year 1 “Triassic Edge "Emme Permian Edge Emily-1 O TD 2,320M Sarahlyn-1 Oil TD 2,730M Sarahlyn - 4 Vanessa - 1 Jasmine-1 Oi TD 2,460M Wells 1&2 = Well 3 = 16 BCF Welis4&5= 10 Million Barrels
Slide 20: NE Area Prospects & Leads
PEL 182 NE Area Prospects & Leads LEADS G.HALK Oil prone Jurassic structural leads in the northeast portion of the biock » 2 Prospects -G&K «to be tested by Emily 7 and Sarahlyn 1. » 3Leads ~H,1, & J.
Slide 21: Prospect G - Emily
PEL-182 Prospect G - Emily 1 Four way dip closure 6 km northwest of the Tarragon 1 oil well. Closed in depth at Top Triassic- Tinchoo and Poolowanna Fms; and at Top Birkhead — Hutton Sst. Well developed Jurassic Hutton Sst and Poolowanna Fm; and Triassic Tinchoo Fm reservoirs. Tarragon 1 tested 500
Slide 22: Emily
PEL 182 Emily 1 Near Top Birkhead E-Horizon
Slide 23: Prospect G / Emily
PEL 182 Prospect G / Emily 1 » Reserves « Hutton Sandstone z a a EE ; z ; Se Be OTL ESRI » P90 =:3 MMbbis AS ON Nise nate Racor eat Ceres » P5O : 6.5 MMbbis tne : = i . » P10 241 MMbbis « Poolowanna Fm PRIMARY » P90: 2 MMbbis Oyama ee, ; BIS 4g. onseerve » P50 :4 MiNibbis perk ‘ a ene HUTTON FM » P1
Slide 24: Prospect K - Sarahlyn
PEL 182 Prospect K — Sarahlyn 1 Broad low relief Top Triassic closure 1 km north west of Coruna 1. Well developed Jurassic Poolowanna and Triassic Tinchoo reservoirs. ideally located with respect to hydrocarbon charge. History of producing and trucking oll in the Immediate area.
Slide 25: Prospect K - Sarahlyn
PEL 182 Prospect K — Sarahlyn 1 >» Reserves » Hutton » POO : 0.7 MMbbis mm 5 EE oo » P50 : 1.4 MMbbis » PIO : 2.8 MMbbis « Poolowanna Fm » POO :2 MiMbbis we P50 : 4.5 MMbbis >» Pi0 7 MMibbis PREMARY OBJECTIVES POOLAWANNA- Mee TNcHOO FMS iat «® Tinchoo Fm » P90 : 2 MMbbis » P50 : 4 VMbbis » PI0 : 7 M
Slide 26: Western Stratigraphic Area Prospects
PEL 182 Western Stratigraphic Area Prospects Niedium sized oil prone stratigraphic prospects in western portion of the Block. « Patchawarra truncation » Prospect D/ Jasmine 1 « Merrimelia-Tirrawarra onlap and truncation » Prospect E / Michelle 1
Slide 27: Prospect D - Jasmine
PELA-182 Prospect D — Jasmine 1 Play: - Patchawarra Fm truncated by the Daralingie Unconformity. 6 km up dip from Darter 1. Darter 1 intersected a 9m sand with 80% oil fluorescence in Patchawarra Fm, well untested. Sand is sealed: « vertically by 36.5m of overlying interbedded claystones & coals » u
Slide 28: Prospect D - Jasmine
PELA-182 Prospect D — Jasmine 1 he NT ie » Reserves =» PSO :3 MMbbis = P50 :6 MMbbis = P10 11 MMbbis » Risk 1 in 5 of finding oil
Slide 29: Prospect E - Michelle
PELA-182 Prospect E — Michelle 1 » Play: « Merrimelia-Tirrawarra onlap to Basement. * possible truncation by the Daralingie Unconformity. Arosa 4 a . — ws & (Prospect is 3 km west and up dip from rn i teclaenes 28 Arosa 1). , re Arosa twell intersected » well developed clean Merrimelia- Tirrawarra F
Slide 30: Prospect E - Michelle
PELA-182 Prospect E — Michelle 1 SEED EY SEE ST > Reserves Bh, ERDONUE I NL POISE Tg Fe TH a = # PO : 2 MMibbis emt = P50 : 5 MNibbis » PA :8 MMbbis im —4 PRIMARY — » Risk « in 7 of finding oil
Slide 31: Lead C - Vanessa
PEL 182 Lead C — Vanessa 1 Pronounced east west structural nose. Closed C to P isopach thin, 4 km east of the producing Pennie Gas Field. Pennie 1 tested 18.9 MMCFD from the Epsilon Fm. Net Gas pay - 6.7m in Epsilon, 10.4m in Toolachee, 1.5m in Patchawarra. Ideally located with respect to hydrocarbo
Slide 32: Prospect C - Vanessa
PEL 182 Prospect C — Vanessa 1 af Wicd lis Spee Koti Seertomrnies = P90: 9BCF AN a arrears ee Ren 4 » P50 : 15 BCF = P10 :21 BCF » Risk Sorin Sosa : : _ a Sanaa OBJECTIVE EPSILON FM * ‘1 in 2 of finding gas
Slide 33: PEL-182 Structural Leads
PEL-182 Structural Leads (Showing stacked reservoirs) an _o Loke Madti (>)
Slide 34: Gold and Base Metals Western Australia
Slide 35: Gold and Base Metals
Gold and Base Metals Archaean and Proterozoic Western Australia Pilbara Greenstone Belts VHMS hase metals targets Structurally controlled gold & | Y Seralaton: South West — Greenstone Belts. Structurally controlled mesothermal gold, Boddington style gold, VHMS style base metal target: AuDAX RESOURCE
Slide 36: Prospect Locations Eastern Goldfields
“TT AUDAX RESOURCES: ETD PROSPECT.LQCATIONS EASTERN. GOLDFIELDS: Gold & Base Metal Projects North Eastern Goldfields
Slide 37: Bronzewing South
O Drill hole cottars: Gold-in-soil anomalies Coarse gold (nuggets) Rock chip anomalies Bronzewing South (Gold & nickel sulphide potential) Exploration Activities 2004-2005 + Newmont from exits Joint Venture on ML’s. - AUDAX completes surface sampling and RABIAC drilling (60 holes). + AuDAX & The Ind
Slide 38: Bronzewing South - Coarse Gold
Bronzewing South — Coarse Gold = 300000 mE ile NM i : Anomalous drill intercepts Anomalous gold-in-soils Goarse gold - nuggets
Slide 39: West Yandal
West Yandal (Gold & nickel sulphide potential) Exploration Activities 2004-2005 + Newmont hands back management June 2004. + AuDAX obtains 100% in return for 1% NSR for produced gold up to 100,0000z, 2% NSR for produced gold over 100 0000z and 1% on all other produced metals. + AuDAX complete rock c
Slide 40: West Yandal
West Yandal loration Activities 2005-2006 + IGO to continue to evaluate Nickel sulphide potential RC drilling of EM conductors. « View Resources — expected to to exercise option to purchase and conduct Venus resource definition drilling. Production?? * AuDAX to evaluate — potential of Vulcan to deli
Slide 41: West Yandal
West Yandal Nickel sulphide Potentia kessoa mn : g | oe Menus Besource uy ecm L | Bedrock EM : || Conductors to be tested by RC drilling Areas of inerest (requires testing)
Slide 42: Millrose
AuDAX Tenure ‘¢ Drillcoltars F] Anomalous Au Imercepis Millrose (existing gold resource — potential to increase resource, regional targets & potential for high-grade in basement) Exploration Activities 2004-2005 * Resource review & scoping studies in light of gold price. + RC Drilling to test Southe
Slide 43: Millrose Resource & Strike Potential
GD RaBiAc anomaly @ Maximum downhole Au Signiicant intersepts 1 gt AU Genaz] Millrose Interpreted Geology Resource & Strike Potential Resource at 1.0g/t Gold cut off grade Indicated Inferred Tonnes Grade Metal(oz) Tonnes Grade Metal (oz) Total 2,415,000 2.29 178,000 1,246,000 1.83 73,000 Total_3,661
Slide 44: Marymia Project
[1 aupax Tenure * Known Mines & Prospects Marymia Project (Gold and Nickel sulphide potential) « High Mg ultramafics — untested by modern exploration. Approaches by various nickel sulphide explorers. * Existing gold prospects at: Baumgarten North 2m @ 4.3g/t Au Chardonay North & South 6m @ 4.7 git A
Slide 45: Marymia Project
Marymia Project Exploration Activities 2004-2005 Review of historical data. Interpretation of magnetic, radiometric and Aster Landsat data. Reconnaissance rock chip and orientation surface sampling - rock chips include 153q/t Au, 15g/t & 16.1g/t from new area. Lithogeochemical sampling of ultramafic
Slide 46: Business Development
Business Development * Property Appraisals = - ° Acquisition ° Divestment & Joint Ventures * West Yandal Proactive approach ~ review properties offer (30+) None. ~AuDAX acquires 100% - royalty agreement with Newmont. ~ conditional sale of the Venues resource & gold on MLA to View Resources $1M + roy
Slide 47: Mt Webb Project
Mt Webb Project New conceptual geological model applied to new area Gold and copper potential (lron-oxide-copper-gold style)
Slide 48: Gindalbie Project
Gindalbie Project New geological model applied to old area Gold and Nickel sulphide potential (Voisey Bay Style) Can Boyd Remaining Resource reported as 15.000t racing 1.1% Ni Tregurtha. 7 3 REQBCBO15 - 12m@1 0% Nie 0.3% Cu 1.2% PGR lnterpteted exterral boundary of CarrBoyd | intrusive Complex.
Slide 49: Previous Drilling: Hartwell Bore Prospect
Previous Drilling Collars Intercepts >0.5g/t Au Supergene RAB/AC anomaly Rock Chips Anomalous samples ee 3m @ 24504 Au | Rock chips 30.19% 1B tol Alb bgh an AWERCIZ Gm @ 2.990/t Au om ® Oflon Au AWBRCT To (.350r Au . Hartwell Bore Prospect (Gold potential) Most of previous limited RC drilling to eva
Slide 50: Priorities 2006
AuDAX is a diversified oil, gas & mineral exploration company with significant assets in the Cooper Basin (SA) and in the Archaean and Proterozoic (WA) Priorities 2006 - drill oll & gas targets in Copper Basin - continue to explore WA projects for gold & base metals ~ build oil, gas & base metal por
Slide 51: gel
gel 1
AuDAX Resources — Shareholder Meeting (November 2005) on 6ix