Synergia Energy Ltd · LSE:SYN
Synergia Energy — Investor Presentation (December 2022)
22 slides from Synergia Energy's investor presentation, Dec 13, 2022
Slide 1: ASX-RNS Announcement
ASX-RNS Announcement 13 December 2022 ASX: SYN / AIM: SYN Shareholder Presentation Synergia Energy Ltd (the “Company” or “Synergia”) is pleased to announce the release of the Shareholder Presentation attached. It is also available on the Synergia website (www.synergiaenergy.com/news). The Shareholde
Slide 2: Cambay Field & CCS Shareholder Presentation: Dec 2022
CAMBAY FIELD & CCS SHAREHOLDER PRESENTATION: DEC 2022
Slide 3: Disclaimer
DISCLAIMER The information set out in this presentation (“Presentation”) has been produced by Synergia Energy Ltd (“Company”). The Presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in t
Slide 4: Outline
OUTLINE • Synergia Overview • Cambay India Economic Potential • CCS Page 3
Slide 5: Synergia Energy Ltd (formerly Oilex Limited) Overview
SYNERGIA ENERGY LTD (FORMERLY OILEX LIMITED) OVERVIEW • Australian public company trading on London AIM • Strategically focused on Cambay PSC development and UK CCS • 2022 transitional year: • Re-established Cambay gas and oil production • C-77H re-frac provided valuable data for full field developm
Slide 6: Outline
OUTLINE • Synergia Overview • Cambay India Economic Potential • CCS Page 5
Slide 7: Cambay PSC - Background
CAMBAY PSC - BACKGROUND • 40,000 acres (161 sq.km) Active PSCs • Adjacent to major industrial region • Nearby to national pipeline infrastructure • Historical production from shallower Oligocene and Miocene reservoirs • Current focus on Eocene tight gas production • Multi-TCF potential defined by mu
Slide 8: 10-Well Cambay Economic Model Summary
10-WELL CAMBAY ECONOMIC MODEL SUMMARY •25 mmsfd •$725 mm • $10mm per well peak gas production NPV10, pre tax & • 4 mmscfd initial gas financing* rate • 995 bopd peak condensate • Self-financing after • 40% pa decline production 12 months • 10 wells address a small portion of the resource size • Init
Slide 9: Cambay Block History
CAMBAY BLOCK HISTORY 1957 • Field discovered by ONGC • 50 BCF produced from Oligocene shallow reservoirs 1957-92 • 58 Wells Drilled(36 penetrated) 1994 • PSC awarded to Niko and GSPC. Drilled 5 wells • Synergia farms in as Oilex (45%,Operator) 2005-06 • 3D seismic acquired over contract area 2006 •
Slide 10: Cambay Field: Multiple Hydrocarbon Bearing Horizons
CAMBAY FIELD MULTIPLE HYDROCARBON BEARING HORIZONS Hydrocarbon saturations and historic production in multiple zones in many old wells Entire contract area covered by high quality 3D seismic KEY Conventional Production Potential for un-swept areas Tight Proven Gas Multi-Tcf Resource Exploration Pote
Slide 11: Cambay Field Summary
CAMBAY FIELD SUMMARY • Total wells drilled – 68 • ONGC 54, Niko 5 & Synergia 9 • Current Production Wells • Eocene Oil & Gas – C-19Z, C-20, C-63, C-73, C-77H • Oligocene Oil – C-72 • Historic Production Wells • Eocene Oil & Gas – C-01, C-19Z, C-20, C-57, C-63, C-73, C-77H • Oligocene Oil & Gas – C-1
Slide 12: Eocene EP-IV Short History
EOCENE EP-IV SHORT HISTORY Synergia's initial work in the Cambay PSC focused on the shallower horizons with production from Miocene 2008-2012 In 2011-12 a major in-house study and report was prepared on the tight Eocene siltstone potential, based on wide-spread hydrocarbon shows, e-log responses and
Slide 13: Eocene EP-IV Background
EOCENE EP-IV BACKGROUND Over 30 historical wells within the PSC intersected the Eocene Most of the wells were drilled sub-optimally. Despite this, 16 tested oil and gas to surface Many of the remaining wells had indications of hydrocarbons All wells show an anomalous resistivity response over the Eo
Slide 14: Synergia Historical Drilling
SYNERGIA HISTORICAL DRILLING 2 horizontal multi-stage fracture stimulated wells: • C-76H (2011) resulted in oil and gas while drilling. Fracture stimulation was successful however the well was not tested due to casing failure • C-77H established sub-optimal gas and condensate production. Provided th
Slide 15: C-77H Re-Frac 2022
C-77H RE-FRAC 2022 In 2021, Synergia contracted US based frac experts “e-frac” to review past data and prepare a new stimulation program for C-77H Project management for the workover operation was undertaken jointly by Indian and UK service providers, Manan and Bedrock Drilling The initial plan was
Slide 16: C-77H Re-Frac 2022 - Lessons Learned
C-77H RE-FRAC 2022 – LESSONS LEARNED Prior to the re-frac, C-77H was produced from 4 zones, fracked in 2014. The well would load up with liquid after 2-3 days of production and required shut in periods of 2-3 days to rebuild flowing wellhead pressure. Several engineering studies indicated these 4 zo
Slide 17: Development of the Eocene Gas
DEVELOPMENT OF THE EOCENE GAS Well planning for two new horizontal wells C-78H and C-79H has been completed The well locations have been determined by : 1. Structurally high Ca79H 2. Adjacent to C-05 which tested up to 4.1 mmcfd and 170 bcpd 3. Close to faults to access natural fractures Ca76H Ca78H
Slide 18: Field Development
FIELD DEVELOPMENT • Staged plan with an initial 10 wells drilled from the C-77H drilling pad • This facilitates drilling rig logistics, production tie-in and ease of workover • The 10 wells recover 34 Bcf to 2032 representing a portion of the greater resource • NPV for initial production rate of 4 m
Slide 19: Well Economic Model
10 WELL ECONOMIC MODEL 25.0 1,250 200.0 20000.0 180.0 18000.0 Condensate Revenue ,000 USD 20.0 1,000 160.0 16000.0 Condensate Production: bbl/d Gas Production: MMcsf/d Gas Revenue 000,000 USD 140.0 14000.0 15.0 750 120.0 12000.0 100.0 10000.0 10.0 500 80.0 8000.0 60.0 6000.0 5.0 250 40.0 4000.0 20.0
Slide 20: Outline
OUTLINE • Synergia Overview • Cambay India Economic Potential • CCS Page 19
Slide 21: CCS Update
CCS UPDATE • Medway Hub project gaining traction • Merchant scheme not reliant on government funding • Target peak annual CO2 storage: 7.6 Mta • Marine solution gives storage & cargo flexibility • CCS team established • Two NSTA storage license applications pending Page 20
Slide 22: Qualified Petroleum Reserves and Resources Evaluator Statement
QUALIFIED PETROLEUM RESERVES AND RESOURCES EVALUATOR STATEMENT Pursuant to the requirements of Chapter 5 of the ASX Listing Rules, the information in this report relating to petroleum reserves and resources is based on and fairly represents information and supporting documentation prepared by or und
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