Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Shareholder Meeting (November 2013)
16 slides from Synergia Energy's shareholder meeting presentation, November 2013
Slide 1: Focused on Value, Methodical in Delivery
Focused on Value Methodical in Delivery ASX / AIM: OEX November 2013
Slide 2: Important Information
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: Board and Management Team
Board and Management Team Max Cozijn Pete Bekkers Appointed as Non- Appointed Chief Executive Chairman Geoscientist in 2007 in 2003. Over 31 more than 16 years years experience in experience. administration of listed companies Sundeep Rob Ierace Bhandari Appointed as Chief Appointed as Vice Financia
Slide 4: Investment Highlights
Investment Highlights \ Asset portfolio, focused on onshore tight/unconventional petroleum \ Large discovered independently certified resource base \ Objective: grow production, cash flow and reserves \ Cambay Project (INDIA – OEX Operator, 45% decreasing to a minimum of 30%) • Sale of up to 15% equ
Slide 5: NSAI Independent Resource Estimate for Cambay
NSAI Independent Resource Estimate for Cambay Unrisked Contingent Resource Estimates (the near term production and cash) Low (1C) Best (2C) High (3C) Oil Gas Oil Gas Oil Gas MMstb BCF MMstb BCF MMstb BCF Gross in place 831 672 1,633 1,314 2,888 2,297 Gross recoverable 31 180 83 495 179 1,073 Net OEX
Slide 6: Cambay Asset: Overview
Cambay Asset: Overview \ Acreage • Cambay Basin: large producing province • Cambay Field: 161 km² (~40,000 acres) • Oilex drilled first horizontal Sabarmati Field multi-stage frac well in India \ Commercial Environment • Gujarat industrial heartland Cambay Field • Significant gas demand • Infrastruc
Slide 7: Cambay-77H: Update
Cambay-77H: Update \ Critical Items • 4 ½ inch casing ordered, delivery expected at site in December • Drill Rig − Technical evaluation complete − 2 rigs technically qualified, both readily available − Commercial bids opened and evaluation in progress • Fracture stimulation tenders − Technical evalu
Slide 8: The Magna Deal: Update
The Magna Deal: Update \ The Deal • Sold 10% equity for US$4million and option over additional 5% for US$2million • Subject to pre-emption under JOA and GOI approvals under PSC • If GOI approval is not obtained by 1 May 2013, Magna cash payment may be converted into OEX shares up to 19.9% of Oilex I
Slide 9: Bhandut-3: Gas Production Leads To Cash Flow
Bhandut–3: Gas Production Leads To Cash Flow \ Bhandut Contract Area Bhandut PSC Area • 6km2 (~1,482 acres) • 19,385bbls cum. oil produced since acquisition in 2007 \ Isochronal test of 3.5m sand ☼ Possible Channel Sands • Below seismic resolution • Flowed 6.5MMscfd of dry gas Potential for addition
Slide 10: Active forward work programme to production and cashflow
Active forward work programme to production and cashflow 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 JV and Government Approvals 3 Work-Over Wells Ongoing Bhandut–3 Preparation Production & Sales Ongoing Cambay–73 Preparation Production & Sales Drill, Frac, Ongoing Prepare Cambay–77H & Mobilise Clean-Up
Slide 11: Wallal Graben Play Fairway: Moving forward at steady pace
Wallal Graben Play Fairway: Moving forward at steady pace \ Strategic rationale: • Low-cost, low-risk entry • Concentrated prospectivity • Long-term growth potential and diversity \ Oilex awarded Canning Basin acreage • SPA-0055 ~ 2.8 million acres • STP-EPA-0106 ~ 700,000 acres • STP-EPA-0107 ~ 900
Slide 12: Wallal Graben: Seismic tells story
Wallal Graben: Seismic tells story \ Jump correlations with regional seismic data infer: • A near-complete Ordovician sequence is preserved L12-08 • Possible thick Goldwyer Formation - primary source rock L12-09 • Potential for additional organic-rich formations \ Low resolution gravity/magnetics da
Slide 13: Why the Wallal Graben Fairway?
Why the Wallal Graben Fairway? Cairn’s Rajasthan acreage at same scale \ Overlooked prospectivity: 7.3 Billion boe in-place 26 separate discoveries • Sparse gravity/magnetic data Production = 175,000 bopd • Vintage 2D seismic data • Analogous to Cairn India’s Rajasthan Play • Undrilled play fairway
Slide 14: Updated scorecard as at AGM
Updated scorecard as at AGM Goals and Objectives Status Production × Cambay–73 GSA signed, competitive tenders required Bhandut–3 tested 6.2MMscfd, tenders issued for sales Work-overs on 3 Cambay wells limited success Cost Control/Cashflow Net corporate overheads reduced ~ 25% from 2012 Indi
Slide 15: Oilex's Investment Proposition
Oilex’s Investment Proposition \ Strategic focus on the Cambay Asset centred on production, cash flow and reserves \ Cambay drilling operations tenders issued, bids received, evaluations in progress and critical award made \ Use proven technology de-risks active forward work plan \ Growth potential
Slide 16: www.oilex.com.au
www.oilex.com.au Phone: +61 8 9485 3200 Email: [email protected] Twitter: @oilexltd