Prominence Energy Limited · ASX:PRM
Prominence Energy — Sun Resources NL — Investor Presentation (October 2013)
24 slides from Prominence Energy's investor presentation, October 2013
Slide 1: Investor Presentation
Investor Presentation October 2013 Govert van Ek Managing Director
Slide 2: Important Information Disclaimer
Important Information Disclaimer This presentation has been prepared by Sun Resources NL (“Sun”) for the purpose of providing a company and technical overview to interested parties to enable recipients to review the business activities of Sun. This presentation is limited in scope and is not intende
Slide 3: Highlights
Highlights • Initial five‐well program confirmed oil flow in Upper, Middle & Lower Woodbine on Sun’s acreage • Neighbouring wells continue to deliver strong flow back results with IP’s of ~800 boepd and in some cases over 1,000 boepd • Funding secured through cornerstone investor, Hancock Prospectin
Slide 4: Corporate Information
Corporate Information CAPITAL STRUCTURE 12-MONTH SHARE PRICE HISTORY Ordinary shares (ASX:SUR) 2,435 million Performance Options 1 140 million Unlisted Options (various prices) 2, 3 173 million Market capitalisation (at 3.6 cents) $88 million (undiluted) Cash 4,5 $15 million Enterprise Value $58 mil
Slide 5: Sun's Team
Sun’s Team Govert van Ek Steve Smith Matt Battrick MANAGING VICE GENERAL DIRECTOR PRESIDENT, MANAGER ‐ USA TECHNICAL • Formerly GM of Pancontinental • Formerly CEO of Spyker Energy PLC • 36 years 0il and Gas , drilling, well Oil & Gas NL. • 17 years upstream experience, in engineering, related logis
Slide 6: Texas Eagle Ford Trend Map
Texas Eagle Ford Trend Map Woodbine: Sun East Texas Oil field Strike, Sundance, Aurora 6
Slide 7: The Woodbine Oil Play ~3 Million Acres, North of Houston
The Woodbine Oil Play ~3 Million Acres, North of Houston Source: Oil and Gas Investor June 2013 7
Slide 8: The Woodbine play – Sun's Strategic Acreage Position
The Woodbine play – Sun’s Strategic Acreage Position Beeler Source: Sun and Oil and Gas Investor June 2013 8
Slide 9: Woodbine Wells – Plenty of Nearby Successes
Woodbine Wells – Plenty of Nearby Successes Sun’s Woodbine Oil Project areas • Surrounded by Oil & Gas Fields and Lateral Woodbine Drilling with multiple > 800 boepd wells • Laterals wells are being drilled and fracced successfully along a line trending NE-SW through Leon, Madison and Brazos Countie
Slide 10: Sun's Net Woodbine Position
Sun’s Net Woodbine Position Sun has a working interest in over 31,500 gross acres across Leon County and down AMERRIL, Freestone = 410 ac into Madison County Beeler Oil Project Sun owns 20,065 net acres across Leon County and down into Madison AMERRIL, Eunice = 1,357 ac County DELTA, Petro-Hunt = 81
Slide 11: Sun: 20,065 Net Woodbine Acres
Sun: 20,065 Net Woodbine Acres Working Interest (WI) in 31,579 gross acres (20,065 net acres) Project Working Interest Net Revenue Interest Acres (WI) (NRI) Net Gross Delta Oil 100% 75% 11,010 11,010 Petro‐Hunt AMI (Delta) 25% 18.75% 810 3,240 Amerril Oil 50% 37.5% 5,989 11,979 Beeler Oil (CW Brown
Slide 12: Recent Activity Around Sun Acreage
Recent Activity Around Sun Acreage Increasing activity around Sun’s lease areas by major Petro Hunt and Sun US oil & gas companies form 7,832 acre AMI, June 2013 Buffalo Oil Field Sub-Clarksville sand Alabama Ferry: Oil in Glen Rose Fm 2012 Halcón purchase Woodbine production from Petromax for US$50
Slide 13: Multiple Oil Targets in Sun's Acreage
Multiple Oil Targets in Sun’s Acreage Austin Chalk Sub Clarksville Sandstones Eagleford Shales Upper Middle Eaglebine Lower Buda Lower Cretaceous Bossier 13
Slide 14: Woodbine Single Well Economic Returns
Woodbine Single Well Economic Returns NPV/bbl = US$33 NPV/bbl = US$27 NPV/bbl = US$11 Source: Sun Estimates 14
Slide 15: Building a Woodbine Business
Building a Woodbine Business • Non operator participant in 5 Woodbine wells which flowed oil: • Two in Upper Woodbine: CW Brown and John Beeler #1H • One in Middle Woodbine: Ellis #1H – 90-day IP of 150 bopd, shallow decline noted. • Two in Lower Woodbine: Seale and T. Keeling #1H; Potential there,
Slide 16: Beeler Project - Ellis #1H - 150 bopd 90-day IP
Beeler Project - Ellis #1H - 150 bopd 90-day IP • Best of three‐well lateral program, strategically adjacent to Delta & Amerril Projects • Immediately adjacent to one of the best performing horizontal oil wells in Leon County, Texas (Gresham A #1H well) ‐ Highest single day IP rate = 250 bopd – mode
Slide 17: Amerril Oil Project – SW Leona Area - Lower Woodbine
Amerril Oil Project – SW Leona Area - Lower Woodbine • “Pad drilling” method completed three wells on same site. • Well heads roughly 5m apart. • Seale #1 vertical well identified 5 potential stacked pay zones: – Sub-Clarksville – Upper, Mid & Lower Woodbine – Deep Glen Rose Fm • Two horizontal well
Slide 18: Near Term Activity & Price Catalysts
Near Term Activity & Price Catalysts • Three wells upcoming : 1. Delta Project, Petro‐Hunt AMI – Sun @ 25%WI – Lower Woodbine target 2. Normangee Project – Sun @ 50% and Operator – Lower Woodbine target 3. Amerril Project – Centreville AMI, Sun @ ~18‐22%WI – Woodbine target • Strategy to continue to
Slide 19: Normangee Oil Project – Sun is now the Operator
Normangee Oil Project – Sun is now the Operator Sun @ 50%WI, Jack Howell #1H to spud around year end 2013 • On trend with proven Amerril Project: oil production from SW Leona Area horizontal, multi- T. Keeling & Seale #1H stage fracced Lower Lower Woodbine Oil Woodbine wells: EOG Lower Woodbine Elli
Slide 20: Petro-Hunt & Sun Targeting Lower Woodbine
Petro-Hunt & Sun Targeting Lower Woodbine Sun @ 25%WI, 810 net acres from Delta Oil Project Area of Petro‐ • Petro-Hunt is a large world class Hunt AMI with operator Sun • Adjacent to proven oil production from old vertical Lower Woodbine wells. Beeler Oil Project • Significant oil-bearing Lower Woo
Slide 21: Amerril Oil Project – Centreville AMI - Woodbine
Amerril Oil Project – Centreville AMI - Woodbine Sun @ ~18-22%WI, F. Thompson #1H to spud mid-November 2013 • F. Thompson #1H well to target Woodbine sand • Energy Exploration Partners flowed 600 bopd from Cowtown #1H • Halcon flowed 800 bopd from Gresham #1H • Both wells 1-2 miles to the south of C
Slide 22: Final Thoughts
Final Thoughts • Sun has a material lease position in an exciting and emerging oil play • In a very oily area, surrounded by quality players generating strong oil flows, with active M&A activity • Multiple production horizons in our leases -> future big upside • Skilled people and quality supportive
Slide 23: Contact Sun or Hartleys for further information
Contact Sun or Hartleys for further information Govert van Ek Managing Director Sun Resources NL L2, 30 Richardson Street t: (+61) 8 9321 9886 West Perth m: (+61) 405 370 994 WA 6005 f: (+61) 9321 8161 e: [email protected] 23
Slide 24: Appendix: Multi-stage Fraccing Schematic
Appendix: Multi-stage Fraccing Schematic Source: ZaZa Energy 24
Sun Resources NL — Investor Presentation (October 2013) on 6ix