Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (March 2015)
22 slides from Synergia Energy's investor presentation, March 2015
Slide 1: Value focused, Methodical delivery
Value focused Methodical delivery ASX / AIM: OEX March 2015
Slide 2: Important Information Disclaimer
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 3: Highlights: Foundations for value and growth
Highlights: Foundations for value and growth Oilex has a diversified oil and gas portfolio, is focused on countries adjacent to the Indian Ocean Rim having proven onshore hydrocarbon provinces. \ Strategy • Becoming a leading onshore “tight” oil and gas producer in India • Generation of sustainable
Slide 4: India: Compelling investment proposition
India: Compelling investment proposition \ India is 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 and strong competition
Slide 5: Oilex in India: Investment highlights
Oilex in India: Investment highlights Highly conducive energy market fundamentals in Gujarat, strong gas Strong Domestic P Economy demand for power generation and industrial uses, competing with predominantly imported LNG Supportive Strong support for Oilex and its Cambay project from federal, state
Slide 6: 2C Contingent Resource: Market Valuation
2C Contingent Resource: Market Valuation LSE/AIM Valuation - 2C Resources (USD/Boe) IGas Energy Ithaca Energy Petroceltic EnQuest Eland Oil & Gas average Tullow Oil Premier Oil Andes Energia* Parkmead Sirius Petroleum San Leon* Circle Oil Afren Gulf Keystone Faroe Petroleum Genel Energy Oilex 2C Res
Slide 7: Company Profile: ASX / AIM: OEX
Company Profile: ASX / AIM: OEX Oilex is listed on ASX and AIM ASX AIM 70 Geographic dispersion Share price (as at 12/03/15) 4.0 2.5p 60 Market capitalisation $27m £17m 50 40 % IC Ordinary shares 678m 30 Listed Options (Sep 15, 15 cents) 189m 20 10 Unlisted Options 34m Australia UK Europe (ex UK) No
Slide 8: Transition: Moving to sustainable production and cashflow
Transition: Moving to sustainable production and cashflow \ Indian Ocean Rim focus • Onshore tight reservoir plays – applying proven technology from US onshore industry \ India • Targeting cash positive operations1 in India in H2 2015 − Forecast average production of 340 bbls/day gross • Cambay (45%
Slide 9: Cambay Field: Highlights
Cambay Field: Highlights \ Field resource ~ 167MM Boe • Independently Certified 2C Contingent Resource Cambay Field • 50% liquids, 50% gas \ Acreage • Cambay Basin: large oil province • Cambay Field: 161 km² (40,000 acres) • Multiple productive reservoirs \ Commercial Environment • Significant gas d
Slide 10: Cambay Field: Proven oil and gas
Cambay Field: Proven oil and gas \ Geology proven to deliver • 2,800m of prospective section • 38 wells penetrated the Eocene formation • 18 wells tested oil and gas to surface • Remaining wells also had log indications \ Block-wide 3D seismic coverage \ No formation water produced \ Permanent gas t
Slide 11: Cambay Field: Substantial upside in four deeper zones
Cambay Field: Substantial upside in four deeper zones \ Independently assessed \ Undiscovered P50 gross in- place volumes • Gas: 12.6 Tcf • Liquids: 11.6 Bn bbls \ Unrisked P50 gross prospective resources • Gas: 934 BCF • Liquids: 140 MMbbls Cambay Field cross section Refer ASX announcement dated 11
Slide 12: Cambay-77H: Proof of concept achieved
Cambay-77H: Proof of concept achieved \ Drilling operations • Efficient drilling operations • Repeatability of directional drilling capability \ Y zone reservoir • Hydrocarbon saturated and no free water observed to date • Properties are laterally consistent \ Fracture treatments • Successfully perf
Slide 13: Cambay Comparison: Range Resources
Cambay Comparison: Range Resources (NYSE: RRC) \ The experience of others helps shorten the learning curve \ The progress at Cambay Field compares favourably to other’s experiences in a new basin \ Range Resources Corporation ((NYSE: RRC) “Range Resources”) was the early mover in the Marcellus Field
Slide 14: Cambay: Independent resource estimate
Cambay: Independent resource estimate Unrisked Contingent Resource Estimates (near term production and cash) \ Updated resource estimate to be Low (1C) Best (2C) High (3C) completed April Oil MMstb Gas BCF Oil Gas Oil MMstb Gas BCF MMstb BCF 2015 Gross in place 831 672 1,633 1,314 2,888 2,297 \ Upda
Slide 15: India: 2015 Activities and goals
India: 2015 Activities and goals \ Targeting cash positive operations1 in H2 2015 \ 2015 Cambay activities Cambay-73 gas sales agreement approved Cambay-77H gas sales agreement approved 2 well firm campaign in 2015 approved − Longer laterals, more fracs with wider spacing • Restart Cambay-73 & 77
Slide 16: Australia: Canning Basin background
Australia: Canning Basin background \ Strategic rationale: Canning Basin • Adjacent to global resource centre − Significant energy demand • Infrastructure within acreage • Low-cost entry, concentrated prospectivity • Long-term growth potential and diversity \ Canning Basin acreage (~3 million acres)
Slide 17: Western Australia: A global resource centre
Western Australia: A global resource centre 17 @oilexltd
Slide 18: Canning Basin: Wallal Graben revealed by seismic
Canning Basin: 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 18 @oilexltd
Slide 19: Wallal Graben: New gravity survey proves the story
Wallal Graben: New gravity survey proves the story \ Conducive to efficient exploration • ~15km wide • ~200km long within Oilex areas \ Prospectivity • Conventional and unconventional • Leads and prospects being compiled • Drilling in 2017 \ Infrastructure • Near ports • Proximal to large gas consum
Slide 20: Oilex: Investment opportunity
Oilex: Investment opportunity \ India – Strategic focus • Production, cash flow and reserves to increase • Targeting cash positive operations1 in 2015 • Compelling investment thesis \ Cambay operations • Multi-well drilling campaign in 2015 • Longer horizontals & target reduced costs • Commence gas
Slide 21: 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 22: www.oilex.com.au
www.oilex.com.au Phone: +61 8 9485 3200 Email: [email protected] Twitter: @oilexltd LinkedIn