Adx Energy Ltd · ASX:ADX
Adx Energy — Shareholder Meeting (May 2014)
25 slides from Adx Energy's shareholder meeting presentation, May 8, 2014
Slide 1: ADX Energy Annual General Meeting
For personal use only ADX ENERGY ANNUAL GENERAL MEETING 08 May 2014 PERTH www.adx‐energy.com 1
Slide 2: Disclaimer
For personal use only DISCLAIMER This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a variety of variables whic
Slide 3: Corporate Summary
For personal use only CORPORATE SUMMARY ASX listed international energy explorer (ASX:ADX) Headquartered in Perth, Western Australia Operations offices in Vienna, Austria and Tunis, Tunisia 24% interest in Riedel Resources. (ASX listed Gold and Base metal explorer, ASX:RIE) 3
Slide 4: Corporate Strategy
For personal use only CORPORATE STRATEGY Corporate Strategy Early entry to high impact exploration opportunities in proven oil and gas basins where management has track record. Commercialisation of existing discoveries. Operating Strategy Maintain operatorship through the exploration ‐ apprais
Slide 5: Portfolio Snapshots
PORTFOLIO SNAPSHOTS For personal use only Dougga Dougga‐West Kerkouane‐Deep Dougga Lambouka Elissa Zaghouan 5 5
Slide 6: Portfolio
PORTFOLIO For personal use only Combined most likely contingent and prospective resources: 1.2 billion barrels of oil equivalent. Kerkouane‐1 Elissa Lambouka Dougga – West (226 mmbbls ) Dougga (173 mmboe) Total ADX permit areas approx. 5,000 km²; ca. 700 km² 3D seismic 6
Slide 7: Dougga West: Miocene Sandstone Oil
DOUGGA WEST: MIOCENE SANDSTONE OIL TARGET p90 p50 MEAN p10 For personal use only TOTAL RECOVERABLE MMBOE 32 133 226 557 A A’ ~30 km² 4 way dip closure A A’ BACKTHRUST LEAD DOUGGA‐WEST DOUGGA Birsa Map 7
Slide 8: Proven Oil Trend: Belli Field (Tunisia)
PROVEN OIL TREND: BELLI FIELD (TUNISIA) For personal use only Nilde oil field Dougga West Source: Marathon Belli oil field Belli‐1A Testing 5800 BOPD at 1600m (Bou Dabbous fractured marl! High porosity Birsa sst. absent) 8
Slide 9: Proven Oil Trend: Nilde Field (Italy)
PROVEN OIL TREND: NILDE FIELD (ITALY) For personal use only Nilde oil field Dougga West Belli oil field Remarkable regional continuity of structural belts across major recent wrench – graben systems DW does however have a very high chance of Birsa sst. Reservoir being present SOURCE: UNMIG, P. Caser
Slide 10: DW Economics: NPV(10), $/bbl
DW ECONOMICS: NPV(10) , 90 $/bbl For personal use only Note: for Upper Birsa reservoir only, no deeper upside included • Contractor NPV 1406 MM$ • Total CAPEX 367 MM$ • Reserves 226 mmbbl • Production 2017‐ 2037 • PSC 40% cost oil • Oil price: 90 US$/bbl 2014 • Inflation 2.5% p.a. Note: all NPV figu
Slide 11: Dougga Appraisal Gas Condensate
DOUGGA APPRAISAL GAS CONDENSATE For personal use only CB run Jan 2012, GRV method p90 p50 MEAN p10 Dougga‐West Total RECOVERABLE MMBOE 88 159 173 268 Abiod RECOVERABLE MMBOE 71 133 142 225 Dougga Total Sales Gas recoverable [bcf] 264 476 517 804 Total Condensate Recoverable [mmbbls] 35 63 68 106 Tot
Slide 12: Carbonate Reservoir Geometries
CARBONATE RESERVOIR GEOMETRIES For personal use only Isochron map of Abiod – Near Sidi Kralif A Dougga‐1 A’ Canyon proj. A A’ Ain Grab Canyon? Abiod Abiod Carbonate Reservoir: Undrilled Reservoir Upside 12
Slide 13: Carbonate Reservoir Geometries
CARBONATE RESERVOIR GEOMETRIES For personal use only Isochron map of top Abiod – near base Cretaceous Canyon? Canyon? 13
Slide 14: Carbonate Reservoir Geometries
CARBONATE RESERVOIR GEOMETRIES For personal use only A Dougga‐1 A’ proj. Ain Grab Canyon? Abiod Abiod Carbonate Reservoir: Undrilled Reservoir Upside 14
Slide 15: Carbonate Reservoir Geometries
CARBONATE RESERVOIR GEOMETRIES For personal use only 15
Slide 16: Dougga Production Forecast
DOUGGA PRODUCTION FORECAST For personal use only (Tracs, Genesis) Sales Gas CO2 50 MMscfpd 32 MMscfpd Fuel Gas 4 MMscfpd Raw Gas 106 MMscfpd Condensate 114 kmol/hr Dougga forecast: 22,000 boe/day 50 mmscf/d sales gas (base case) 9,400 bopd condensate production 3,200 bopd LPG production tota
Slide 17: Dougga Summary
DOUGGA SUMMARY For personal use only 300 meters up dip potential Large gas column: + 600 meters (gas kicks throughout lower section very large skin through reservoir damage) High liquids yield: +/‐ 90 bbls/mscf (Tracs) Matrix porosities up to 22%, average 12% Top reservoir approx. 2800 m TVDS
Slide 18: Romania Parta Block – ADX Operated
ROMANIA PARTA BLOCK – ADX OPERATED For personal use only Fiscally attractive Concession agreement signed with NAMR in January 2011. Ratified by Government in November 2012 Prolific permit in a proven and producing hydrocarbon province in Romania. 1,221 km² acreage with 40 identified oil & ga
Slide 19: Parta seismic program
Parta seismic program For personal use only 19
Slide 20: For personal use only
x ee g tite ‘ xfs é ie a “Ny Legend Coho. ~— Foldplot 3D 2D planned - —— status 2d 3D Icea Mare (__] excluded areas Cparta_permit teritorii administrative Localities [leads
Slide 21: First Results from 2D!
For personal use only FIRST RESULTS FROM 2D ! 21
Slide 22: Preliminary Processing
Preliminary Processing * Quality not seen before in Parta * High resolution ° First new drillable prospect 6 Se SOee ee eee eeeecde
Slide 23: Forecast Activities
For personal use only FORECAST ACTIVIES Dougga appraisal program and Sicily Channel exploration program Dougga + exploration well farmout Q3 2014 Drill Dougga gas condensate field appraisal well 2015/2016 Drill exploration well Dougga - West 2015/2016 Complete seismic onshore Romania Q3 20
Slide 24: For personal use only
For personal use only Ian Tchacos Non executive Chairman Wolfgang Zimmer Managing Director Office Suite 1, 45 Ord Street West Perth, WA, 6005 T: 61 8 9226 2822 F: 61 8 9226 5333 Website www.adxenergy.com.au Email [email protected] ASX Code ADX 24
Slide 25: Thank You!
For personal use only THANK YOU! 25