Synergia Energy Ltd · LSE:SYN

Synergia Energy — Oilex — Shareholder Meeting (November 2011)

16 slides from Synergia Energy's shareholder meeting presentation, Nov 9, 2011

  1. Slide 1: Annual General Meeting - India Focus

    Annual General Meeting 9 November 2011 India Focus

  2. 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

  3. Slide 3: Oilex Snapshot - Capital Structure

    3 Oilex Snapshot - Capital Structure • Cash at 30 Sept A$15.4 million • ASX and AIM-listed codes: OEX • No debt • 253 million shares issued • 33.14 million unlisted Market Cap options/rights ~ £48 million @ 19p • ~44% held on AIM ~ A$76 million @ 30c *

  4. Slide 4: Cambay – Overview

    4 Cambay – Overview Gujarat - “Growth engine of India” • Acreage  Cambay Basin large producing province  Substantial dataset  Large resource potential  Cambay contract area 161 km2 • Environment  High sustainable gas prices  Large unsatisfied energy demand  Accessible infrastructure with spar

  5. Slide 5: Cambay PSC and Fiscal Terms

    5 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-

  6. Slide 6: Cambay Tight Reservoir Project Work Program

    6 Cambay Tight Reservoir Project Work Program  Cambay-73 well test – fluid composition  NSAI Certification – initial assessment complete  Cambay-76H well test – pending  Cambay-76H Early Production System* Testing operations Cambay-73 gas condensate well  Planning for next drilling campaign* *w

  7. Slide 7: Cambay-76H Drilled, Completed, Stimulated

    7 Cambay‐76H Drilled, Completed, Stimulated Cambay- 05 Cambay‐05 ONGC ‐ 1960 NW SE 1100m 1300m X Zone 1500m • Tested up to 204 Mcf/d gas Top OS-II 1700m Top X Zone Top Y Zone 1900m Y Zone • Tested up to 4.1 MMcf/d gas, 170 bcpd 200m Low Perm High Perm

  8. Slide 8: Cambay-76H Drilled and Fracture Stimulated

    8 Cambay-76H Drilled and Fracture Stimulated  “Proof of Concept” well demonstrating successful transfer of technology  610m Horizontal section, completion and 8-stage fracture stimulation Jul-Aug  Post-frac analysis consistent with well model  Extended production testing to follow cleanout  Ret

  9. Slide 9: Cambay 76H Well – Microseismic Acquisition

    9 Cambay 76H Well – Microseismic Acquisition Representation of frac geometry Potentially allows the 3 km C-76H to well head determination of the stimulated reservoir volume Identify existing geologic features e.g. Fractures / Faults Identify by-passed hydrocarbons Adjust Well Spacing Adjust Well-bor

  10. Slide 10: Cambay Field - Stratigraphic Subdivision

    10 Cambay Field - Stratigraphic Subdivision C‐20 5.20 km C‐40 Arbitrary 3D seismic line Cambay-20 to Cambay-40 Top X Top Y Top Z NSAI 180-200 180 – Base Z 200 – Top Older Cambay Fm NSAI 200-300 300 – Top Olpad NSAI 300-400 400 – Near Top Deccan

  11. Slide 11: Initial Independent Cambay Hydrocarbon Assessment

    11 Initial Independent Cambay Hydrocarbon Assessment Netherland Sewell Associates Inc Discovered-in-place Volume Estimate X+Y Zone (Net OEX) Low Best High Natural gas (BCF) 302 591 1,033 Oil (MMbbls) 374 734 1,299 Unrisked Contingent Resource Estimates X+Y Zone (Net OEX) Natural Gas (BCF) 80 222 482

  12. Slide 12: Initial Independent Cambay Hydrocarbon Assessment

    12 Initial Independent Cambay Hydrocarbon Assessment Netherland Sewell Associates Inc Undiscovered-in-place Volume Estimate Z, Deeper Zones* (Net OEX) Low Best High Natural gas (BCF) 2,232 5,690 10,430 Oil (MMbbls) 2,105 5,216 9,860 Unrisked Prospective Resource Estimates Z, Deeper Zones* (Net OEX)

  13. Slide 13: North West Shelf Gas Province WA-388-P

    13 North West Shelf Gas Province WA‐388‐P Oilex 8.4% • Farmout to Apache – Operator • OEX was fully funded for La Rocca-1 well, drilled Q2 2011 • No gas, excellent reservoir, 4,875m TD • Future work program to be decided Ocean Patriot Rig (Photo Courtesy of Diamond Offshore) *

  14. Slide 14: Timor Sea - JPDA 06-103

    14 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 *

  15. Slide 15: In Summary: Success at Cambay Will Transform Oilex

    15 IN SUMMARY….. SUCCESS AT CAMBAY WILL TRANSFORM OILEX • Oilex core strength is India • Cambay Field resources are significant • Cambay 76H well - de-risk project • transfer of new technology into India • Warrants expanded drilling program • Independent certification ongoing • Indian market fundame

  16. Slide 16: Personnel

    16 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

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