Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (April 2015)
26 slides from Synergia Energy's investor presentation, April 2015
Slide 1: Corporate Presentation April 2015
CORPORATE PRESENTATION APRIL 2015
Slide 2: Foundations for Value and Growth
FOUNDATIONS FOR VALUE AND GROWTH Oilex has a diversified oil and gas portfolio, focused on Indian ocean rim countries with proven onshore hydrocarbon provinces. Strategy • Leading onshore “tight” oil and gas producer in India Tight • Delivery of sustainable production, cash flow and reserves onshore
Slide 3: India: Compelling Investment Proposition
INDIA: COMPELLING INVESTMENT PROPOSITION • India is the world’s fifth largest energy consumer with a significant unsatisfied gas demand and associated high sustainable gas prices • Gas demand remains strong, Gujarat State with gas fired power stations running at less than capacity due to supply cons
Slide 4: Oilex in India: Investment Highlights
OILEX IN INDIA: INVESTMENT HIGHLIGHTS Strong Domestic Highly conducive energy market fundamentals in Gujarat, strong gas demand for power generation and P Economy industrial uses, competing with predominantly imported LNG, with a middle class ~267 million Supportive P Government Strong support for t
Slide 5: Gujarat: Gas Pipeline Network to the Nation
GUJARAT: GAS PIPELINE NETWORK TO THE NATION Cambay Field Page 5
Slide 6: Cambay: Going Forward
CAMBAY GOING FORWARD Page 6
Slide 7: Proven Oil and Gas
PROVEN OIL AND GAS 45% interest and operator Acreage • Cambay Basin: large oil province • Cambay Field: 161 km² (40,000 acres) • Multiple productive reservoirs Geology proven to deliver • 2,800m of prospective section • 38 wells penetrated the Eocene formation • 18 wells tested oil and gas to surfac
Slide 8: Reserves & Contingent Resources
RESERVES & CONTINGENT RESOURCES • Reserves and Resources estimate prepared by RISC as at 1 April 2015 • Refer to ASX announcement dated 16 April 2015 Estimated Cambay Field Reserves 1P* 2P 3P Gas C5+ Gas C5+ Gas C5+ Y Zone Bcf MMbbls Bcf MMbbls Bcf MMbbls Total – Gross Nil Nil 206 8.0 377 17.3 Oilex
Slide 9: 2015-16 Work Program
2015-16 WORK PROGRAM* 2 Firm wells • C-78H (core + 1400m Hz/18 fracs) • C-80H (core + 700m Hz/8 fracs) • Frac number & design, finalised after core analysis 2 Contingent Wells • C-79H (core + 1400m Hz/18 fracs) • C-81 (deep pilot hole + cores) All wells drilled from existing upgraded drill pads 5 Wo
Slide 10: Illustrative Gas Production Outlook
ILLUSTRATIVE GAS PRODUCTION OUTLOOK 10,000 4,500.0 3 well production profile justifies C-80H C-78H C77H Cum production 5MMscfd gas plant 9,000 4,000.0 Likely C-78H and C-80H will have 8,000 3,500.0 to be constrained Cumulative gas production (MMscf) 7,000 3,000.0 Condensate would be co- produced and
Slide 11: Plans – 2016 & Beyond
PLANS – 2016 & BEYOND 2P Reserves support estimated 50MMscfd production plateau rate • Estimated well count 34 • Engineering studies to optimise production plan Planning and preparation for multi well drilling campaign • Long lead items Upgrading Contingent Resources to Reserves • Cambay-81 is locat
Slide 12: Upside in Four Deeper Zones
UPSIDE IN FOUR DEEPER ZONES Independently assessed Undiscovered P50 gross in-place volumes • Gas 12.6 Tcf Unrisked P50 gross prospective resources • Gas: 934 Bcf The estimated quantities of petroleum that may potentially be recovered by the application of a future development project relate to undis
Slide 13: Cambay-73 Facilities
CAMBAY-73 FACILITIES PRODUCTION START-UP MAY 2015 Page 13
Slide 14: Bhandut Field: Harvesting Conventional Gas
BHANDUT FIELD: HARVESTING CONVENTIONAL GAS Bhandut Field • 40% interest & operator • 6km2 • 19,385bbls oil produced since acquisition in 2007 • Flowed 6.5MMscfd of dry gas 2015 Bhandut activities Gas sales agreement approved Facilities design and installation in progress • Commence Bhandut-3 gas
Slide 15: Australia: Canning Basin
AUSTRALIA CANNING BASIN Page 15
Slide 16: Canning Basin: Background
CANNING BASIN: BACKGROUND Strategic rationale: Canning Basin • Adjacent to global resource centre – Significant energy demand • Infrastructure within acreage • Proven geological petroleum province • Low-cost entry, concentrated prospectivity Canning Basin acreage (~3 million acres) • STP-EPA-0131~ 1
Slide 17: Western Australia: A Global Resource Centre
WESTERN AUSTRALIA: A GLOBAL RESOURCE CENTRE Page 17
Slide 18: Wallal Graben Revealed by Seismic
WALLAL GRABEN REVEALED BY SEISMIC Regional seismic data infer • A near-complete Ordovician sequence is preserved • Possible thick Goldwyer Formation - primary source rock • Potential for additional organic-rich formations Page 18
Slide 19: New Gravity Survey Confirms the Story
NEW GRAVITY SURVEY CONFIRMS THE STORY Conducive to efficient exploration • ~15km wide • ~200km long within Oilex areas Prospectivity • Conventional and unconventional • Leads and prospects portfolio being compiled • Drilling planned for 2017 Markets and Infrastructure • Near ports • Proximal to larg
Slide 20: Investment Opportunity
INVESTMENT OPPORTUNITY OILEX
Slide 21: Investment Thesis
INVESTMENT THESIS India – Strategic focus • Production, cash flow and reserves Markets + Infrastructure + Geology • Targeting cash positive operations in India in 20151 • Compelling investment thesis Cambay operations • Multi-well drilling campaign in 2015 Production + Cashflow + Reserves • Longer h
Slide 22: Market Valuation
MARKET VALUATION 2P Reserve (USD/Boe) as at 16/4/15 $35.00 $30.00 $25.00 $20.00 Oilex 2P Reserves $15.00 valued at USD1.96/Boe $10.00 $5.00 $- Page 22
Slide 23: Company Profile: ASX / AIM: OEX
COMPANY PROFILE: ASX / AIM: OEX Oilex is listed on ASX and AIM ASX AIM 70 Geographic Dispersion 60 As at 31-Mar-15 Share price (as at 17/04/15) 7.5c 3.75p 50 40 % IC Market capitalisation $51m £25m 30 20 Ordinary shares 678m 10 Listed Options (Sep 15, 15 cents) 189m Australia UK Europe (ex UK) North
Slide 24: Company Profile: Board and Management Team
COMPANY PROFILE: BOARD AND MANAGEMENT TEAM Max Cozijn Chris Bath Non-Executive Chairman Chief Financial Officer & Over 32 years experience Company Secretary in administration of listed Over 20 years experience in companies. resources & energy in Australia and Asia. Sundeep Bhandari Pete Bekkers Vice
Slide 25: Important Information
IMPORTANT INFORMATION Disclaimer The presentation in this projected form and as verbally presented (Presentation) is provided on the basis that none of the Company Directors nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advi
Slide 26: Thank you
Thank you CORPORATE PRESENTATION APRIL 2015