Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (August 2011)
18 slides from Synergia Energy's investor presentation, August 2011
Slide 1: Investor Presentation August 2011 – India Focus
Investor Presentation August 2011 India Focus
Slide 2: Disclaimer
2 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 o
Slide 3: Oilex Snapshot - Capital Structure
3 Oilex Snapshot - Capital Structure • Cash at 30 June A$19.1 million • ASX and AIM-listed codes: OEX • No debt • 253 million shares issued • Raised £6 million with UK • 33.6 million unlisted institutions December 2010 options/rights • ~43% held on AIM Market Cap OEX.ASX 1 year (to 12 August 2011) ~
Slide 4: Strategy
4 Strategy • Portfolio rationalized • Cambay tight reservoirs focus • Oilex core strength is India CAMBAY Perth Gujarat Gujarat––“Growth “GrowthEngine EngineofofIndia” India” *
Slide 5: Cambay – Overview
5 Cambay – Overview • Acreage Cambay Basin large producing province Substantial dataset Large resource potential Cambay contract area 161 km2 • Environment High sustainable gas prices Large unsatisfied gas demand Accessible infrastructure with spare capacity Good fiscal terms Locatio
Slide 6: Cambay Tight Reservoir Project Work Program
6 Cambay Tight Reservoir Project Work Program Cambay-73 well test – fluid composition NSAI Reserves Certification - in progress Cambay-76H well – in progress Cambay-76H Early Production System* Planning for next drilling campaign* *with success and subject to Joint Venture and Testing oper
Slide 7: Cambay-76H drilled and fracture stimulated
7 Cambay-76H drilled and fracture stimulated “Proof of concept” horizontal well with multi-stage fracture stimulation Extended production testing for decline rate starting soon Results to be used for ongoing Independent Reserves Certification Potential to sell liquids and gas production * Ca
Slide 8: Tight Gas Technology in India
8 Tight Gas Technology in India Fluid + proppant pumped into well Surface bore at high pressure Drill vertical well Kick‐off ~1,100m MD Build angle Extensive artificial Drill ~600m fractures increase the horizontal well rock surface area Y ZONE exposed and permeability Experienced personnel • Key
Slide 9: Thick “tight” Eocene pay zones proven
9 Thick “tight” Eocene pay zones proven • 140 - 400m gross interval across contract area CAMBAY 76H • Further possible pay zones below Z zone WELLBORE PATH PROJECTED X Zone Y Zone Z Zone
Slide 10: Unaudited Reserve & Resource Base – Cambay Eocene
10 Unaudited Reserve & Resource Base – Cambay Eocene Reserves - Justified for Development 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 • As at 6th September 2010
Slide 11: Gujarat – “Growth engine of India”
11 Gujarat – “Growth engine of India” One of India’s fastest growing and most industrialised states • GDP growth rate 10.4% p.a. (av. 02-07) • 16% of India’s industrial output - largest producer of petroleum products and chemicals. • 22% of India’s exports - major gateway for international trade • D
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: Cambay PSC and Fiscal Terms
13 Cambay PSC and Fiscal Terms • OEX 45% and Operator Cambay 73: • Joint Venture with Gujarat State Petroleum Conventional vertical well Corporation (GSPC) tested gas • Good commercial terms condensate - shutin • 9 yrs remaining + 10 yr extension for gas project available • Government profit share 0
Slide 14: North West Shelf Gas Province WA-388-P
14 North West Shelf Gas Province WA‐388‐P Oilex 8.4% • Farmout to Apache – Operator • OEX fully funded for La Rocca-1 well La Rocca‐1 • No gas, excellent reservoir, approx location 4,875m TD • Work program under review Ocean Patriot MODU Courtesy Apache *
Slide 15: Timor Sea - JPDA 06-103
15 Timor Sea - JPDA JPDA 06‐103 Oilex 10%, Operator • Significant potential in Northern part of contract area – higher risk • Tutuala primary lead • Infill 3D seismic survey acquisition completed May • Processing and interpretation in progress • Exploration well planned *
Slide 16: Oilex Snapshot – Objectives 2011
16 Oilex Snapshot – Objectives 2011 2011 OBJECTIVES CENTRE ON CAMBAY, GUJARAT • Cambay - Prove the concept o Transfer and apply modern N American technology o Drill, stimulate & test Eocene tight reservoirs Cambay-76H • Independent certification of resource and reserve o Netherland Sewell conducting
Slide 17: In Summary: Success at Cambay will transform Oilex
17 IN SUMMARY….. SUCCESS AT CAMBAY WILL TRANSFORM OILEX • Oilex core strength is India • Cambay Field reserves & resources are significant • Cambay 76H well to de-risk project • Independent certification ongoing • Indian market fundamentals very attractive • Gas demand/supply gap widening • Cambay c
Slide 18: Personnel
18 Personnel Board & Executive Management MAX COZIJN (Non-Executive Chairman) - 31 years in listed resource companies. Director of Carbon Energy, Magma Metals, Malagasy Minerals and Energia Minerals Ltd. BRUCE McCARTHY (Managing Director) - Ex-Cairn India manager. 32 years oil & gas experience with