Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — 4th Unconventional Gas Summit, Singapore 2011
18 slides from Synergia Energy's conference presentation, February 2011
Slide 1: New Technology Applied to an Old Reservoir – India Focus
4th Unconventional Gas Summit Singapore – February Febr ar 2011 India Focus New Technology gy Applied pp to an Old Reservoir
Slide 2: Oilex Snapshot – Capital Structure
2 Oilex Snapshot – Capital Structure • ASX and AIM-listed • 252 million shares issued • 47.3 47 3 million illi unlisted li d options/rights i / i h • Market Cap ~ A$131 million @ 52c ~ £81 million @ 32p p • Cash at 30 Dec A$20.1 million, no debt *
Slide 3: Oilex Snapshot – History
3 Oilex Snapshot – History • Farmed into Cambay Field 2006 • Acquired additional i t interests t in i 2006 • Historical involvement of p personnel in India for 15 years • Assets outside of Indian Ocean India with Indian companies Oilex developed a diversified portfolio of growth opportunities around
Slide 4: Current Strategy
4 Current Strategy • Portfolio rationalized • Cambay focus • Oilex core strength is India CAMBAY • Pursuing conventional plays on North West Shelf. * “Growth Engine of India” • Drilling in 2011.
Slide 5: Oilex Cambay project
5 Oilex Cambay project • Cambay Basin large producing basin • At the heart of Gujarat’s industrial Area • 45% and Operator of Production Sharing Contract • Joint Venture with Gujarat State Petroleum Corporation (GSPC) • Over 60 wells drilled 1957 1990 1957-1990 • Most had hydrocarbon Location of Oil
Slide 6: Eocene Tight Reservoir play – Cambay PSC
6 Eocene Tight Reservoir play – Cambay PSC • Conventional fraccing in vertical wells in 2007 – 2009: • Yielded gas and oil flows at sub-commercial rates. • However, a modern data base was generated to calibrate wells intersecting the Eocene section. • Initial ideas for multistage fraccing of Cambay
Slide 7: Extensive data base evaluated
7 Extensive i data d base b evaluated l d Data • Log data from 36 wells & core • Re-processed 3D seismic • Conventional well test data Studies • Petrophysical analysis • Tight/Shale g g gas applications pp • Fracture designs modelled • Re-interpreted 3D seismic • Identified “shale gas” analogues • D
Slide 8: Expertise and Technology
8 Expertise and Technology Simulated completion scenarios modelled p to determine optimum design g • proprietary i t software ft • design stimulated completions • database >45,000 wells • exclusive alliance with Oilex for India • independent reserve certifier • shale gas and ultra‐tight reservoir en
Slide 9: Good correlation between Cambay and USA “shale” plays
9 Good correlation between Cambay and USA “shale” plays COMPARISON WITH NORTH AMERICAN ANALOGOUS TIGHT GAS PLAYS BASIN CAMBAY EOCENE EAGLE FORD HAYNESVILLE TIGHT X Y Z ZONES SOUTH TEXAS NORTH TEXAS Depth to reservoir, metres 1,675 – 2, 440 2,895 – 3,260 3,200 – 4,115 Net reservoir thickness, metres
Slide 10: Reserve & Resource Base – Cambay Eocene
10 Reserve & Resource Base – Cambay Eocene Reserves - Justified for Development p Probability P90 P50 P10 Natural gas (BCF) 248 384 591 Condensate (MMbbls) 11 17 27 Contingent Resources - Development Pending Natural Gas (BCF) 186 324 568 Condensate (MMbbls) 8 14 26 • Attributable to Oilex Net Workin
Slide 11: Gujarat – “Growth engine of India”
11 Gujarat – “Growth engine of India” One of India’s fastest g growing g and most industrialised states • GDP growth rate 10.4% p.a. (av. 02-07) • Largest producer of petroleum products, products chemicals and others • Major gateway for international trade • Delhi-Mumbai Industrial Corridor - US$90b
Slide 12: Gas Market
12 Gas Market Gas contribution to total Estimate of gas demand power generation by industry ‐ India India • India gas demand is rising fast with increasing gas fired power generation capacity • Indian gas consumption growing from 1.7 TCF (2009) to 3.1 TCF (2014) (source: BMI O&G Report). • Gas impor
Slide 13: PSC and Fiscal Terms
13 PSC and Fiscal Terms • OEX 45% and Operator Cambay C b 73 73: • Joint Venture with Gujarat State Conventional vertical gas Petroleum Corporation (GSPC) condensate • Land and approvals pp in p place well - shutin • Good commercial terms • 9 yrs remaining + 10 yr extension for g gas p project j ava
Slide 14: Thick “tight” pay zones proven
14 Thick “tight” pay zones proven • 140 - 400m gross interval across contract area • Proven reserves in X+Y pay zones CAMBAY 76H WELLBORE PATH • Contingent Resources in Z pay zone • Further p possible p pay y zones below Z zone W Cambay-19z Cambay-73 Cambay-23z Cambay-40 E X Zone OSII Y Zone Top Eoc
Slide 15: Tight Gas Technology in India
15 Tight Gas Technology in India CAIRN AT THE FOREFRONT WITH APPLIED TECHNOLOGY TECHNOLOGY, OILEX CLOSE BEHIND Extensive artificial Fluid + proppant fractures increases the pumped into well surface area exposed bore at pressure. Horizontal drilling and multi fracture stimulation 9 Experienced person
Slide 16: Cambay – Overview
16 Cambay – Overview • Acreage – Cambay Basin large producing province – Substantial dataset – P Proven reserves – Large resource potential • Environment – High sustainable gas prices – Large unsatisfied gas demand – Accessible infrastructure with spare capacity – Excellent fiscal terms Location of
Slide 17: Cambay Field Indicative Work Programme
17 Cambay Field Indicative Work Programme • Independent Reserves Certification underway. • Drill horizontal well, multi stage fracture stimulation and production testing. • 8 x 2 stage fracs in ~600 meter horizontal C-76H well. • Reservoir at ~1800 meters below datum. • Plan to pump total 2,400,000
Slide 18: Disclaimer
18 Disclaimer The presentation in this projected form and as verbally presented (Presentation) is provided on the basis that none of the Company nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation
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