Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (December 2010)
16 slides from Synergia Energy's investor presentation, December 2010
Slide 1: Investor Presentation London – December 2010: India Focus
Investor Presentation London – December 2010 India Focus New Technology Applied to an Old Reservoir
Slide 2: Oilex Snapshot – Capital Structure
2 Oilex Snapshot – Capital Structure • ASX and AIM-listed • 220 million shares issued • 45.8 million unlisted options/rights Market Cap ~ A$62 million @ 28c ~ £41 million @ 18.5p • Cash at 30 Sep A$13.9 million, no debt *
Slide 3: Strategy
3 Strategy • Portfolio rationalized • Cambay focus • Oilex core strength is India CAMBAY 2005-08 Oilex developed a diversified portfolio of growth opportunities in “Growth Engine of India” proven basins around the * Indian Ocean Rim.
Slide 4: Cambay – Overview
4 Cambay – Overview • Acreage – Cambay Basin large producing province – Substantial dataset – Proven reserves – Large resource potential • Environment – High sustainable gas prices – Large unsatisfied gas demand – Accessible infrastructure with spare capacity – Excellent fiscal terms Location of Oil
Slide 5: Reserve & Resource Base – Cambay Eocene
5 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 • Attributable to Oilex Net Working I
Slide 6: Gujarat – “Growth engine of India”
6 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) • Largest producer of petroleum products, chemicals and others • Major gateway for international trade • Delhi-Mumbai Industrial Corridor - US$90bn infrastructu
Slide 7: Gas Market
7 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 import
Slide 8: PSC and Fiscal Terms
8 PSC and Fiscal Terms • OEX 45% and Operator Cambay 73: • Joint Venture with Gujarat State Conventional vertical gas Petroleum Corporation (GSPC) condensate • Land and approvals in place well - shutin • Good commercial terms • 9 yrs remaining + 10 yr extension for gas project available • Government
Slide 9: Thick “tight” pay zones proven
9 Thick “tight” pay zones proven • 140 - 400m gross interval across contract area • Proven reserves in X+Y pay zones CAMBAY 76H • Contingent Resources in Z pay zone WELLBORE PATH • Further possible pay zones below Z zone X Zone Y Zone Z Zone
Slide 10: Expertise and Technology
10 Expertise and Technology Simulated completion scenarios modelled to determine optimum design • proprietary software • design stimulated completions • database >45,000 wells • exclusive alliance with Oilex for India • independent reserve certifier • shale gas and ultra‐tight reservoir engineering
Slide 11: Tight Gas Technology in India
11 Tight Gas Technology in India CAIRN AT THE FOREFRONT WITH APPLIED 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 Experienced personnel • Key p
Slide 12: Cambay Field Indicative Work Programme
12 Cambay Field Indicative Work Programme • Independent reserves certification expected early 2011 • Drill horizontal well, multi stage fracture stimulation and production testing • Follow on drilling and Phase 1 development 2011 Subject to Joint Venture and Government of India approval *
Slide 13: Other Assets
13 Other Assets WA‐388‐P NW Shelf JPDA 06‐103 Oilex 14%, Operator Oilex 10%, Operator • Farmout to Apache for full carry drilling • Two unsuccessful wells drilled 2009-10 & testing Feb 2011 – (OEX retain 8.4%) • Significant potential in N province • Seven prospects 0.3 to 2.8 TCF prospective • Work
Slide 14: Success at Cambay Will Transform Oilex
14 SUCCESS AT CAMBAY WILL TRANSFORM OILEX • Cambay Field reserves & resources are significant • Drilling in Q1 2011 to prove concept, de-risk project • Oilex core strength is India • Asset portfolio being rationalized • Cash preserved *
Slide 15: Disclaimer
15 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
Slide 16: Personnel
16 Personnel Board & Executive Management Technical MAX COZIJN (Non-Executive Chairman) - 31 years in JOHN LAMBERTO (Exploration Manager) – listed resource companies. Director of Carbon Energy, 25 years in oil and gas exploration and Magma Metals, Malagasy Minerals. management with Ampolex, Lasmo, M