Adx Energy Ltd · ASX:ADX
Adx Energy — Good Oil Conference 2016
26 slides from Adx Energy's conference presentation, Sep 13, 2016
Slide 1: ADX Energy Strategy and Opportunities
For personal use only ADX Energy Strategy and Opportunities Good Oil Conference Ian Tchacos - Executive Chairman 13 September 2016 www.adx-energy.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 analysts/investors For personal use only and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any co
Slide 3: Corporate Overview, Geography, Strategy
For personal use only Corporate Overview Geography Strategy 3
Slide 4: Corporate Overview and Capital Structure
Corporate Overview For personal use only Capital Structure Summary Shares on Issue 798.2 million No of Shareholders 2,601 An ASX listed international energy exploration and appraisal Company Market Capitalisation @ 0.7 cents $ 5.5 million (ASX:ADX) Top 20 shareholder Interest 52.51% Asset refocu
Slide 5: Geography
Geography - Sicily Channel (Tunisia and Italy) and Romania (Onshore) For personal use only Contains 1 Oil Field, 3 Oil and 1 Gas Discoveries * Combination of Development, Appraisal and Exploration * Variety of proven hydrocarbon provinces * Areas we know well technically and commercially 5
Slide 6: Sicily Channel Position
Sicily Channel Position - All Permits at 100% equity For personal use only Nilde Area 34 mmbo (2C) Contingent Resource Senergy Feb 2016 Independent Assessment Lambouka Recent Award Dougga Gas Condensate Tunisia Resource Potential (note 1) Discovery Contingent resources: 173 mmboe 173 mmboe (2C) Pros
Slide 7: Growth Strategy
Growth Strategy For personal use only ADX has large existing Contingent Resource base at the Nilde Oil Redevelopment and Dougga Gas Condensate Convert Large Discovery - converting these to reserves will create Resource Potential to exceptional value growth Reserves 1. Nilde is a low risk resource
Slide 8: Recent Company Focus and Activities
Recent Company Focus and Activities For personal use only Stream line management, finance and administration to maximise effectiveness and minimise duplication Revise and reform Board and Management Close offices in Tunisia and Vienna centralising G & A functions Reposition the Company to fo
Slide 9: Nilde Area Field Area – Offshore Sicily
For personal use only Nilde Area Field Area – Offshore Sicily Nilde Redevelopment Project Potential 9
Slide 10: Nilde Oil Field Area - Background
Nilde Oil Field Area - Back Ground 1 Abandoned Oil Field & 3 Oil discoveries (all For personal use only tested) – between 1979 to 1990 Nilde Oil field produced at approx 10,000 BOPD from a single well for 5 years before production acceleration resulted in premature water production Early gener
Slide 11: Nilde Oil Field - Production History
Nilde Oil Field - Production History Nilde Oil Field produced: 21 mmbls before abandonment For personal use only Initial reserves post sanction in 1979: 6.3 mmbbls ~10,000 bbls/d Production Acceleration 7860 bbls/d coincided with water break 5700 bbls/d through and 1988 oil price collapse US$40 oil
Slide 12: Nilde Oil Field – Contingent Resources
Nilde Oil Field – Contingent Resources Gross Contingent1 Resources Volumes (MMstb) For personal use only Notes 1C 2 2C 2 1. Contingent Resources: those quantities of 2 3C Estimate petroleum estimated, as of a given date, to be Estimate Estimate potentially recoverable from known accumulations but, f
Slide 13: Nilde Oil Field – Indicative Economics
Nilde Oil Field – Indicative Economics For personal use only Project NPV10 versus Oil Price Development Scenario Assumptions "Nilde Project Indicative Economics" 2 slanted production wells centrally located $600 and one non utilised appraisal well High Value Potential $500 Develop Nilde and Nilde
Slide 14: Nilde Field Redevelopment - Key Attributes
Nilde Field Redevelopment - Key Attributes For personal use only • Historical production and test data for all undeveloped discoveries • Excellent 2 D seismic data quality and good coverage Technical • High well productivities (approx 10,000 BOPD - vertical wells). • Shallow drill depths (approx 170
Slide 15: Nilde Field Redevelopment - Current Status
Nilde Field Redevelopment - Current Status For personal use only Progress on Project Definition and Commercialisation 1. Secured all historical production and geological data required to complete subsurface assessment 2. Review of Nilde core only outstanding work to complete revised resource assessm
Slide 16: Dougga Gas Condensate Discovery – Kerkouane Permit Offshore Tunisia
For personal use only Dougga Gas Condensate Discovery – Kerkouane permit Offshore Tunisia Dougga Gas Condensate Project Potential 16
Slide 17: Dougga Gas Condensate Field - Background
Dougga Gas Condensate Field - Background (100% equity) For personal use only Dougga West (oil) Nilde oil The Dougga 1 well intersected approx 600 m gross gas field column and tested condensate rich gas in 1981 Prospect 227 mmboe Best case Dougga 1 is located in 328m of water, 45kms east of Cap B
Slide 18: Dougga Gas Condensate Field - Contingent Resource Potential
Dougga Gas Condensate Field - Contingent Resource Potential For personal use only Contingent Resources Estimates 1C 2C 3C Dougga-West Total Oil Equivalent [mmboe] 88 173 268 Dougga Liquids: Condensate & LPG [mmbls] 47 91 142 Sales Gas [bcf] 264 517 804 Sources: Competent persons reports (CPR) by TRA
Slide 19: Dougga Gas Condensate - Key Attributes
Dougga Gas Condensate - Key Attributes For personal use only • Large Condensate Rich Gas Resource • Structure well defined with high quality 3D seismic • Gas contains 70 to 90 Barrels / mcf of condensate and 18 – 30% CO2 Technical • The previous development scenario is based on floating offshore con
Slide 20: Dougga Gas Condensate Project - Current Status
Dougga Gas Condensate Project - Current Status For personal use only Progress on Project Redefinition and Appraisal 1. Since the Arab spring, ADX has concentrated on the exploration potential of the permit in order to maximize the value of its 740 sq km Geostreamer 3D seismic however ADX believes a
Slide 21: Parta Exploration Permit – Onshore Romania
For personal use only Parta Exploration Permit – Onshore Romania Romanian Onshore Production Opportunities 21
Slide 22: Parta Permit Progress
Parta Permit Progress - 50% equity interest and Operator For personal use only 30 months extension of first exploration phase agreed with government ratification pending 2 D seismic acquired indicating excellent prospectivity Extensive landowner work to secure access 3D area resulting in commu
Slide 23: PARTA Permit 3D Seismic Is a Likely Game Changer
PARTA Permit 3D Seismic is a likely game changer For personal use only S N PINCHOUT tested TRAPS Oil production 1.2 mmscf/d Ch IVb_ IVc_ IVa IVb_ Va IVc_ TS2 VI Vc BLOW OUT VIII Oil & Gas charge proven 8 sqkm trap area Proven multi – horizon plays tested 1.2 mmscf/d Use 3D seismic to drill swe
Slide 24: Romanian Production Opportunities
Romanian Production Opportunities Background For personal use only Romania is a prolific oil and gas province with good infrastructure and excellent fiscal terms (3.5% Well Head Royalty and 16% Corporate Tax) Dominated by a few larger players seeking to maximise production from larger assets A
Slide 25: Conclusions
Conclusions For personal use only A three pronged approach to build a sustainable growth platform with nearly all the necessary pieces in place Goal is to combine immediate production and reserves (Romanian Production Acquisition) with transformational near term development (Nilde Redevelopment
Slide 26: Contact details
For personal use only Ian Tchacos Executive Chairman Paul Fink Chief Executive Head Office: Level 2, Suite 14 210 Bagot Road, Subiaco, WA, 6008 Tel: 61 8 9381 4266 Fax: 61 8 9381 4766 Website www.adxenergy.com.au Email [email protected] ASX Code ADX 26