Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (June 2016)
19 slides from Synergia Energy's investor presentation, June 2016
Slide 1: Corporate Presentation: Indian Unconventional Onshore Gas Revolution
CORPORATE PRESENTATION INDIAN UNCONVENTIONAL JUNE 2016 ONSHORE GAS REVOLUTION www.oilex.com.au twitter @oilexltd
Slide 2: Important Information
IMPORTANT INFORMATION This presentation has been prepared and issued by Oilex Ltd (the “Company”) solely for the purpose of providing an update on Company activities. This Presentation contains summary information about the Company, its subsidiaries and their activities which is current at the date
Slide 3: Unlocking the Cambay Value
UNLOCKING THE CAMBAY VALUE EXPOSURE TO MULTI-TCF GAS PLAY Proven petroleum system with long history of hydrocarbon production since 1957 – both conventional and unconventional Multi-TCF unconventional gas resource - proven laterally continuous wet gas saturated zones Close to established gas markets
Slide 4: Unlocking the Cambay Value: Exposure to Multi-TCF Gas Play
UNLOCKING THE CAMBAY VALUE EXPOSURE TO MULTI-TCF GAS PLAY Oilex has drilled 2 horizontal multi-stage fracced wells – production from one well Large scale commercial production still to be demonstrated, typically 5+ wells required Development requires optimised technologies to maximize gas production
Slide 5: Cambay Field: Location and History
CAMBAY FIELD 1957 • Field discovered by ONGC LOCATION AND HISTORY 1957-92 • 50 BCF produced from Oligocene shallow Located in the prolific producing Cambay reservoirs Basin • 63 wells drilled (36 into deeper Eocene) Continuous production for 60 years 1994 • PSC awarded to Niko and GSPC 2005-06 • Oil
Slide 6: Cambay Field: Proven Hydrocarbons
CAMBAY FIELD PROVEN HYDROCARBONS Cambay-77H Hydrocarbon saturations and production in multiple zones in many old wells Entire contract area covered by good quality 3D seismic MBS 1000m OS-II EP-IV 2000m Deccan Traps Cambay Multiple play types 3000m Shale Recently targeted unconventional (tight) Mult
Slide 7: Proven Oil and Gas
PROVEN OIL AND GAS Cambay-11 EP-III/IV SILTSTONE (X/Y ZONE) • Flowed trace oil and gas Cambay-05 • 2.8 MMscfd + 46 bcpd • 4.1 MMscfd + 170 bcpd • 3.1 MMscfd + 74 bcpd Cambay-63 & 70 Proven Petroleum System Cambay-19z • Intermittent oil producers • ~0.8 MMscfd + 200 bopd Cambay-20 41 well intersectio
Slide 8: Resource Statement
W Cambay-19z Cambay-73 Cambay-23z Cambay-40 E RESOURCE STATEMENT OSII PREPARED BY RISC (JUNE 2016) X Zone Top Eocene Y Zone Contingent Resource for EP-III / IV (X / Y Zone) Z Zone Base EPIV Net gas volume (bcf) Net Condensate Volume (million bbl) Basement 1C 2C 3C 1C 2C 3C 478 927 1618 27 61 121 Tab
Slide 9: India Energy: Continued Strong Fundamentals
INDIA ENERGY CONTINUED STRONG FUNDAMENTALS Primary energy consumption in India grew by 5.2% in 2015 YOY BP Statistical Review of World Energy June Domestic natural gas production fell 3.8% in 2015 YOY 2015 and 2016 LNG imports increased by 14.8% in 2015 YOY Gap between production and consumption for
Slide 10: Experience to Date: Cambay-76H & Cambay-77H
EXPERIENCE TO DATE CAMBAY-76H & CAMBAY-77H
Slide 11: Cambay-76H – Spud 2011
CAMBAY-76H – SPUD 2011 Cambay- 05 HORIZONTAL WELL, FRACCED Location Criteria NW SE Adjacent to wells with hydrocarbon flows Relatively minor faulting Technical Outcomes 1500m Successful 610m horizontal section in the EP-IV (Y Zone) Confirmed gas in ground Top OS-II Successful 16 fracs in 8 stages 17
Slide 12: Cambay-77H – Spud 2014
CAMBAY-77H – SPUD 2014 PRODUCTION ACHIEVED Location Criteria Drilled from Cambay-76H drilling pad: 350m lateral section Technical Outcomes Placed on production – choked back Established production - likely that contribution from fractures was minimal Learnings Core required to determine optimal comp
Slide 13: Unlock Plan
UNLOCK PLAN Page 13
Slide 14: Marcellus Analogue
MARCELLUS ANALOGUE REQUIRED A NUMBER OF WELLS TO UNLOCK POTENTIAL Size Comparison: Cambay vs Marcellus Project Development Comparison: Oilex in Cambay vs Marcellus Range Resources - First 8 Horizontal Wells in Marcellus Marcellus Field 16,000,000 14,000,000 14,000,000 12,000,000 Flow rate (scf/d) 10
Slide 15: Optimising the Technology
OPTIMISING THE TECHNOLOGY LEARNINGS FROM OPERATIONS Integrating production data and world wide analogues to provide updated production profiles – ongoing in-house review Drilling and completion requires core data to determine optimal approach Acquiring a core sample is key objective of the next work
Slide 16: Forward Plan
FORWARD PLAN GAINING MOMENTUM Drill EP-III/IV vertical well next Primary objective is to acquire core samples and analysis for optimal drilling, completions and fraccing technology Takes advantage of the lower cost vertical well drilling rates in India at present The EP-III/IV is potentially availab
Slide 17: Oilex in Australia: Canning Basin
Prospect OILEX IN AUSTRALIA LARGE EXPLORATION UPSIDE, CANNING BASIN, WA Low Cost Entry – to be awarded at 100% equity S Access to entire sub-basin, 3 million acres S Frontier exploration – East African Rift Analogue Recognised source rock potential Multiple Play Types Large structural closures Exten
Slide 18: Company Profile
COMPANY PROFILE REVITALISED TEAM LEADING THE COMPANY BOARD & MANAGEMENT CAPITAL STRUCTURE Max Cozijn Non-executive Chairman AIM/ASX Ticker OEX Over 32 years experience in administration of listed companies Brad Lingo Non-executive Director Share price (23 June 2016) 0.55p Over 30 years of oil and ga
Slide 19: Conclusions
CONCLUSIONS STRONG FUNDAMENTALS Multi-TCF resource base in a proven petroleum system Close to important gas market Significant exposure through 45% ownership Optimisation of technical parameters required to deliver commercial flow rates Core samples required – objective of planned work programme Joi