Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (May 2006)
24 slides from Synergia Energy's investor presentation, May 17, 2006
Slide 1: Investor Review
Investor Review 17 May 2006 20 May 2006 1
Slide 2: Disclaimer
Disclaimer 2 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 3: Oilex Overview
Oilex Overview 3 Shares on issue 50,014,319 Current share price £0.750 $1.83 Market capitalisation £37,510,739 $91,526,204 Cash on hand at 31 Mar 2006 £2,536,667 $6,088,000 Enterprise value £34,974,073 $85,438,204 Options on Issue Unlisted options at 31 Dec 05 21,030,534 10,730,534 @ A$0.40-0.80 iss
Slide 4: Oilex Board
Oilex Board 4 Max Cozijn – Chairman (Non Executive) Founding Chairman and Company Secretary. Has over 30 years experience in administration of listed mining and industrial companies. Bruce McCarthy – Managing Director Director since 23 February 2005. Ray Barnes – Technical Director Director since 19
Slide 5: Senior Executive Management
Senior Executive Management 5 Bruce McCarthy – Managing Director Former Executive Director - Command Petroleum India Ltd based in India. Following the merger of Command and Cairn Energy PLC in 1997 managed the Indian operations for Cairn until 2002. Geologist. Ray Barnes – Technical Director Former
Slide 6: ASX 12 mo share price
ASX 12 mo share price 6 Surat List Drilling AIM
Slide 7: India
India 20 May 2006 7
Slide 8: India Operations - Personnel
India Operations - Personnel 8 Delhi Rich Paces Country Manager Delhi Support Services Oman Australia Bruce McCarthy Vadodara Managing Director Perth Ray Barnes Technical Director Vadodara Tony Beckett Geotechnical Operations Manager Isis AWT
Slide 9: Indian Alliances
Indian Alliances 9 Alliance Agreements with 4 major Indian companies Gujarat State Petroleum Corporation – integrated energy co GAIL (India) Ltd – largest gas marketer and distributor Hindustan Petroleum Corporation Ltd – refiner Videocon Industries Ltd – very large listed conglomerate Participate i
Slide 10: Petroleum Provinces - India
Petroleum Provinces - India 10 Supply & Demand Produces +/- 600,000 Delhi bopd and 350 mmcfgd mainly by ONGC & OIL Baroda 35% self sufficient Oman US$33 billion import bill ‘05, up 25% Domestic production in decline Strong GDP growth 6%-10% p.a. Sedimentary Basins of India DGH 2005
Slide 11: Cambay Field – Oilex Farmin
Cambay Field – Oilex Farmin 11 Oilex farmed in for 30% interest from Niko & GSPC in the Cambay Field, onshore Gujarat Subsequently increased to 45% Establishes Oilex as operator in India Located in prolific petroleum province close to pipelines and industrial infrastructure Government approval recei
Slide 12: Acquisition Additional Fields
Acquisition Additional Fields 12 Sabarmati Field Acquired Niko’s interest in Cambay, Bhandut and Cambay Field Sabarmati fields US$5.49 million Bhandut Field Field data under evaluation Low production Re- development candidates
Slide 13: Cambay Fields - Tertiary Age Reservoirs
Cambay Fields - Tertiary Age Reservoirs 13 Target horizons for 2 - 3 SECONDARY OBJECTIVES wells June 06 PRIMARY OBJECTIVE SECONDARY OBJECTIVE Sandstone Siltstone Shale
Slide 14: Cambay Field – Potential Oligocene Oil & Gas Pools
CAMBAY FIELD – 14 POTENTIAL OLIGOCENE OIL & GAS POOLS Map derived from log correlation Seismic data base poor Many wells out of structural closure Main sand reservoir Oligo Potential in Mio 2 . 2 and Eo . 5 5 0 2.5 km
Slide 15: Western High - Possible Fluid Distribution
Western High -Possible Fluid Distribution 15 Phase I Well Locations Top OS-II Cambay 8 Western High Base Case Khambat Phase I well location options Possible GOC 1497 m SS OWC 1507 m SS 3D seismic programme 0 2.5 km
Slide 16: Cambay Field – OS II & EP IV Resource
Cambay Field – OS II & EP IV Resource 16 Resource Gross volume-in-place Low Best High Estimate Estimate Estimate OIL Million Stock Tank Barrels 16 43 108 GAS Billion Cubic Feet 105* 173 432 CONDENSATE Million Stock Tank Barrels 1.6 3.7 9.8 Estimates of original hydrocarbons in place calculated for t
Slide 17: Cambay Field – Subsurface Structure
Cambay Field – Subsurface Structure 17 Line 252-47 & 267-06 Original Interpretation Top Deccan? ~2.0 – 2.25 secs TWT Alternative Interpretation Untested Plays • Rotated fault blocks • Horst blocks • Stratigraphic traps Khambat 0 2.5 km
Slide 18: Australia
Australia 20 May 2006 18
Slide 19: Australian Operations
Australian Operations 19 Surat Cooper NW Shelf & Timor Sea Eromanga New Ventures Otway
Slide 20: Otway Basin – EPP27
Otway Basin – EPP27 20 Offshore South Australia Oilex Operator South Australia Introduced Videocon & GSPC to JV Oilex diluted 2/3 original farmin interest OEX 100% now 33.3% contributing interest (60% now 20% equity) Indian parties each contributing 33.3% 2D seismic, 1 well Acquire ~1300 km 2D seism
Slide 21: EPP 27 – Havana Lead
EPP 27 – Havana Lead 21 • Shallow reservoir SW NE sands target • Source - oil window ca. 1,200m • Gas chimneys to top sand • Timing migration? • Fewer faults to sea floor in SE area • Older structures • Effective vertical & 5 Kms lateral seal
Slide 22: Oman
Oman 20 May 2006 22
Slide 23: Oman – Location Block 56
Oman – Location Block 56 23 sin ltBa Sa n O ma th u So 56 Oilex 25% VIL 25% GAIL 25% HPCL 12.5% BPCL 12.5%
Slide 24: Highlights 2006
Highlights 2006 24 Farmed out EPP27 to Indian parties OEX 33% contributing, earn 20% List on AIM Arranged A$5 mm finance facility Awarded Oman block 56 with Indian parties GoI* approval for Cambay farmin 30% (US$1.8mm work value) Cambay phase I work programme OC approved 3D seismic (160 km2) start e