ADX Energy Ltd · ASX:ADX
ADX Energy — RIU Good Oil Conference 2018
20 slides from ADX Energy's conference presentation, Sep 12, 2018
Slide 1: ADX Assets & Strategy
For personal use only 12 September 2018 ADX ASSETS & STRATEGY A European focused appraisal and development company By Ian Tchacos www.adxenergy.com 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by ADX Energy Ltd for the purpose of providing an activity update to interested For personal use only analysts/investors and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any co
Slide 3: Investment Thesis
INVESTMENT THESIS Operated Assets with high Equity Interests For personal use only Material Contingent Resources supported by Independent Experts Assessments Well developed and credible development concepts 3 Transformational Appraisal & Development Assets 3 appraisal wells planned for dri
Slide 4: Corporate Overview
CORPORATE OVERVIEW Multiple Appraisal & Development Opportunities For personal use only Nilde Oil ASSET SUMMARY CORPORATE SUMMARY Project (Subject to Ratification) Nilde Oil Redevelopment Project ASX Code ADX Offshore Sicily 1,133 100% equity Shares on Issue million 33 MMBO 2C Resources (subje
Slide 5: Strategic Objectives
STRATEGIC OBJECTIVES Unlock value of the Company’s Asset Base Dougga 3D Mapping Demonstrate asset value and project feasibility For personal use only Independent Resource Estimates Credible Costed Development Concepts Map out pathway to cash flow Secure funding at an asset level that valid
Slide 6: Achievements to Date
ACHIEVEMENTS TO DATE Asset Definition and Corporate Development 1. Resource and Project Concept studies have been completed for all assets For personal use only 2. Information Memorandums and Data Rooms have been prepared for all assets 3. Commenced Farmouts / Funding discussions for all assets Pa
Slide 7: Dougga Gas-Condensate Project Offshore Tunisia
For personal use only DOUGGA Gas-Condensate Project Offshore Tunisia “A Long Life Strategic Asset” 7
Slide 8: Dougga Gas Condensate Project Summary
DOUGGA Gas Condensate Project Summary Material Long Life Gas Project: Top Abiod (reservoir) depth map, showing Dougga-Sud well location • Large 70km2, 3D-defined gas-condensate discovery For personal use only • 122 MMBOE 2C Resource Independently Assessed with long-lived revenue stream • 84MMCFD sal
Slide 9: Dougga – History and Market Relevance
DOUGGA – History and Market Relevance Project History Dougga Base Case Production (Ideal Product Yields) Dougga Discovered by Shell in 1981 For personal use only ADX 3D seismic acquired in 2010 Nearby Lambouka gas discovery 2010 Arab Spring interruption 2011 Dougga feasibility studies 2017
Slide 10: Dougga Viability and Expansion Opportunities
DOUGGA VIABILITY AND EXPANSION OPPORTUNITIES Advances in Dougga Project Viability • Low risk emerging MENA economy with For personal use only accelerating 10% per annum GDP growth • Excellent access to gas infrastructure • Desperate need for domestic gas and LPG • Resource well defined with 3D seism
Slide 11: Nilde - Oil Redevelopment Project Offshore Italy
For personal use only NILDE - Oil Redevelopment Project Offshore Italy “A Highly Profitable Rapid Return Asset” 11
Slide 12: Nilde Oil Field Redevelopment – Low Cost & High Returns
NILDE Oil FIELD REDEVELOPMENT – Low Cost & High Returns Project History Original FPSO • Oil field developed in early 1980s with primitive FPSO Development For personal use only and well production technology 1982 - 1988 • Prematurely abandoned due to drop in oil price to US$ 14 per bbl and inability
Slide 13: Nilde Oil Field Redevelopment – Project Concept
NILDE Oil FIELD REDEVELOPMENT – Project Concept High Degree of Project Definition For personal use only • Collaboration and alignment with highly reputable and capable facilities providers (Calm Oceans Pte Ltd and SPEC Energy) • Mobilisation, installation, integration and lease proposals received fo
Slide 14: Nilde Oil Field Redevelopment – Indicative Economics
NILDE Oil FIELD REDEVELOPMENT – Indicative Economics Comments on Economic Results Contractor NPV(10) vs Oil Price • NPV10 range at US$55/bbl oil price $1,400 For personal use only between US$300 – 950 Million 1C Base Case 3C $1,200 NPV(10) (US$ million) • All resources cases demonstrate high $1,000
Slide 15: Parta Appraisal and Development Onshore Romania
For personal use only 3D Appraisal area Parta Appraisal and Development Onshore Romania “A Rapid Pathway to Cash flow” 15
Slide 16: Parta Appraisal, Development & Exploration
PARTA APPRAISAL, DEVELOPMENT & EXPLORATION Asset Summary Parta Appraisal & Exploration Assets • ADX Operator of Parta Appraisal and Exploration License Current Ownership Structure Reabold • Recent purchase of Iecea Mare Production license (100%) For personal use only ADX Energy Ltd Resources Plc (Au
Slide 17: Parta Appraisal, Development & Exploration
PARTA APPRAISAL, DEVELOPMENT & EXPLORATION Appraisal Program Objectives: Re-drill and test two historic gas discoveries to: For personal use only • Test previously confirmed gas reservoirs • Appraise potential gas reservoirs identified but not tested • Explore deeper targets not previously interse
Slide 18: Parta Appraisal, Development & Exploration
PARTA APPRAISAL, DEVELOPMENT & EXPLORATION Economic Potential Appraisal Well Scenario Post Tax NPV10 (US $ millions) $90 Excellent IRR from ranging from 39% to 79% For personal use only $80 High Revenue Split and Rapid pay backs less $70 than 3 years in all cases $60 Excellent ROI range from 3
Slide 19: Near Term and Longer Term Activities
NEAR TERM AND LONGER TERM ACTIVITIES 3 Month Outlook For personal use only Complete Contracting for Parta Drilling Finalise Tranche 2 Reabold funding (US$ 1.5 million) Conclude Transfer of Iecea Mare Production license GlobeTrotter II Rig Option for Dougga Sud Funding for second Parta apprai
Slide 20: One Small Company, Multiple Organic Growth Opportunities
For personal use only One Small Company Multiple Organic Growth Opportunities! Ian Tchacos – Executive Chairman www.adx-energy.com 20