ADX Energy Ltd · ASX:ADX
ADX Energy — Shareholder Meeting (May 2018)
20 slides from ADX Energy's shareholder meeting presentation, May 25, 2018
Slide 1: 2018 Annual General Meeting: ADX Assets & Strategy
2018 Annual General Meeting For personal use only Friday 25 May 2018 ADX ASSETS & STRATEGY A European focused appraisal and development company By Ian Tchacos www.adxenergy.com 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by ADX Energy Ltd for the purpose of providing an activity update to interested For personal use only analysts/investors and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any co
Slide 3: Corporate Overview
CORPORATE OVERVIEW A EUROPEAN FOCUSED APPRAISAL AND DEVELOPMENT COMPANY SUMMARY OF ASSETS CORPORATE SUMMARY For personal use only Nilde Oil Redevelopment Project ASX Code ADX Offshore Sicily Shares on Issue 1,119 million 100% equity 34 MMBO 2C Resources (subject to No of Shareholders 2,545 rat
Slide 4: Appraisal & Development Portfolio
APPRAISAL & DEVELOPMENT PORTFOLIO - offshore Mediterranean and onshore Romania Carpinis Gas Plant Parta Gas Appraisal Nilde Development Concept For personal use only Project 35BCF (2C) Contingent Resource Nilde Oil Redevelopment 34 MMBBLS (2C) Contingent Resource ADX 100% interest and Operator (Subj
Slide 5: Strategic Objectives
STRATEGIC OBJECTIVES Corporate Objectives Progress to Date Unlock value of the Company’s 1. Resource and Project Concept studies have been For personal use only Asset Base completed for all Appraisal Development Assets • Demonstrate asset value and 2. Information Memorandums and Data Rooms project
Slide 6: Summary of Asset Progress
SUMMARY of ASSET PROGRESS Dougga Gas Condensate Project • Asset resources assessment and development concept matured For personal use only • Drilling option secured utilising Noble Globe Trotter 2 rig • Well planning and long lead item preparation has commenced • Funding discussions with multiple pa
Slide 7: Dougga Gas-Condensate Project, Offshore Tunisia
For personal use only DOUGGA Gas-Condensate Project Offshore Tunisia “A Long Term Strategic Asset” 7
Slide 8: Dougga Gas Condensate Project Summary
DOUGGA Gas Condensate Project Summary Material Long Life Gas Project: Top Abiod (reservoir) depth map, showing Dougga-Sud well location • Large 70km2, 3D-defined gas-condensate discovery For personal use only • 165MMBOE 2C Resource with long-lived revenue stream • 84MMCFD sale gas & 12,800BPD (LPG &
Slide 9: Dougga – History and Market Relevance
DOUGGA – History and Market Relevance Project History Dougga Base Case Production (Ideal Product Yields) Dougga Discovered by Shell in 1981 For personal use only ADX 3D seismic acquired in 2010 Nearby Lambouka gas discovery 2010 Arab Spring interruption 2011 Dougga feasibility studies 2017
Slide 10: Dougga – Time Right for Development and Expansion
DOUGGA – Time Right for Development and Expansion Changes to Project Viability Resource Expansion opportunities • Low risk emerging MENA economy with • Dougga “Megastructure” upside within For personal use only accelerating 10% per annum GDP growth and outside Kerkouane permit • Excellent access to
Slide 11: Nilde Oil Redevelopment Project, Offshore Italy
For personal use only Nilde Oil Redevelopment Project Offshore Italy “A Highly Profitable Rapid Return Asset” 11
Slide 12: Nilde Oil Field Re-development – Low Cost & High Returns
NILDE Oil Field Re-development – Low Cost & High Returns Project History Original FPSO • Oil field developed in early 1980s with primitive FPSO Development For personal use only and well production technology 1982 - 1988 • Prematurely abandoned due to drop in oil price to US$ 14 per bbl and inabilit
Slide 13: Nilde Oil Field Re-development – Project Concept
Nilde Oil Field Re-development – Project Concept High Degree of Project Definition For personal use only • Collaboration and alignment with highly reputable and capable facilities providers (Calm Oceans Pte Ltd and SPEC Energy) • Mobilisation, installation, integration and lease proposals received f
Slide 14: Nilde Oil Field Re-development – Indicative Economics
Nilde Oil Field Re-development – Indicative Economics Comments on Economic Results Contractor NPV(10) vs Oil Price • NPV10 range at US$55/bbl oil price $1,400 For personal use only between US$300 – 950 Million 1C Base Case 3C $1,200 NPV(10) (US$ million) • All resources cases demonstrate high $1,000
Slide 15: Parta Appraisal and Development, Onshore Romania
For personal use only 3D Appraisal area Parta Appraisal and Development Onshore Romania “A Rapid Pathway to Cash flow” 15
Slide 16: Parta Appraisal, Development and Exploration
Parta Appraisal, Development and Exploration Asset Summary Parta Appraisal & Exploration Assets Ownership Structure • ADX Operator of Parta Appraisal and Exploration Licence For personal use only Reabold • ADX interest held via UK SPV “Danube” which has attracted ADX Energy Ltd (Australia) Resources
Slide 17: Parta Appraisal Program Status
Parta Appraisal Program Status Appraisal Program Objectives: • Re-drill and test two historic gas discoveries to: For personal use only 1. Test previously confirmed gas reservoirs 2. Appraise potential gas reservoirs identified but not tested 3. Explore deeper targets not previously intersected. App
Slide 18: Parta Appraisal Program – Economic Potential
Parta Appraisal Program – Economic Potential Economic Summary of initial two well program Calacea Oil and Gas Facility US$5 million drilling and testing program could generate a Post tax NPV10 of ~ US$80 For personal use only million from multi zone development. If only one zone is successful in
Slide 19: Near Term and Longer Term Activities
NEAR TERM AND LONGER TERM ACTIVITIES 3 Month Outlook Independent Experts Reports for Dougga and For personal use only Parta Appraisal Program Funding for Dougga Sud appraisal well (via Farmout or Special Purpose Vehicle) GlobeTrotter II Rig Option for Dougga Sud Funding for second Parta apprai
Slide 20: 2018 is the time... For a Good Plan To Come Together!
For personal use only 2018 is the time...For a Good Plan To Come Together! Ian Tchacos – Executive Chairman www.adx-energy.com 20