ADX Energy Ltd · ASX:ADX
ADX Energy — Investor Presentation (January 2024)
25 slides from ADX Energy's investor presentation, Jan 22, 2024
Slide 1: An ASX listed European Energy Producer and Explorer
For personal use only An ASX listed European Energy Producer and Explorer “Reliable energy doesn’t need to cost the earth” ASX:ADX I n v e ASX: s t o rADX Update | 2 2 J a n u a r y 2 0 2 4 | F o c u s o n We l c h a u D r i l l i n g adx-energy.com
Slide 2: Disclaimer Statement
2 Disclaimer Statement Important notice: For personal use only This document has been prepared by ADX Energy Ltd (“ADX”) for the purpose of providing information to interested analysts, investors and shareholders. Any statement, opinions, projections, forecasts or other materials contained in this d
Slide 3: Investment Proposition and Operating Strategy
Investment Proposition and 3 Operating Strategy For personal use only Stable Reserves and World-class Value Adding, Operating Active Drilling Underlying Production Exploration Complementary Capability Program and Increasing Growth from Portfolio in the Renewable • Ability to • Funded by Cashflow New
Slide 4: Corporate and Asset Summary
4 Corporate and Asset Summary Positioned for a smarter, cleaner future for Europe Capital Structure For personal use only Share Price (19/1/2024) A$0.095 Number of Shares on Issue 427.9 m Number of Options 74M Market Capitalisation A$40.6 m Austria Oil & Gas Assets Austria Clean Energy Projects Vien
Slide 5: Our focus is on Austria and Europe
5 Our focus is on Austria and Europe A great place to build a diversified energy business Permit & Environmental Permiting Approvals & Environmental Approvals (months) Australian For personal use only Licht Anshof Welchau 0 10 20 30 A significant oil and gas industry 1 billion bbl oil & 2.7 Tcf gas
Slide 6: European gas market dynamics
6 European gas market dynamics Large premium to US & structurally higher long-term prices Fundamental to thechanges Dutch TTF vs U.S. natural gas and Asian LNG1 Dutch TTF (USD per MMBtu) European gas market since Russia’s For personal use only 5(x) price increase due invasion of Ukraine in Feb-22: U
Slide 7: Recent Highlights
7 Recent Highlights 01 Financial Welchau -1 well site construction 02 Transactions • Anshof agreement finalised with MND1 – • Share Capital Consolidation of For personal use only two well funding (EUR 5.3M - pay 60% for 1 for 10 30% interest) plus back costs (EUR1.3M) • Placement & Share Purchase Pl
Slide 8: Planned Activities
8 Planned Activities A period of high activity funded by farmouts Anshof field development program Welchau- 1 2 new Anshof wells For personal use only Exploration well Recommence production with capacity increase to 3,000 bopd Anshof-2 Near field oil exploration opportunities Side Track well T
Slide 9: Production and Development
For personal use only Production and Development Vienna Basin Oil and Gas Fields, Anshof appraisal and development update 9
Slide 10: Vienna Basin Production Assets
10 Vienna Basin Production Assets Stable, high value production with long term potential Vienna Basin Fields (100% interest) A long-term future for Vienna Basin Fields ▪ A unique position – own the land + storage reservoirs + green For personal use only ✓ Low emission, low decline production deliver
Slide 11: Anshof Production
11 Anshof Production Recommencement of Anshof-3 Anshof-3 (BOPD) Average monthly production rate production - end Q1 2024. only 140 • Long term test production from Oct use (BOPD) 120 2022 until Sep 2023 100 Average Production of 115 BOPD • Stable water free daily rate of Monthly Production 80 approx
Slide 12: Anshof Appraisal and Development
12 Anshof Appraisal and Development Anshof-2 well results ANS-3 vs ANS-2 Reservoir Comparison ▪ Thicker & better quality reservoir at or near the field oil-water-contact ✓ Net vertical thickness (m): 2m vs 12m For personal use only ▪ Eocene intersection some 40-50m shallow to prognosis potential o
Slide 13: Anshof planned activities
13 Anshof planned activities Anshof-2 drilling with the RED E-202 Well planning and drilling drilling rig For personal use only ✓ Review mapping and geological structural model post Anshof-2 ✓ Confirm ANS-2 sidetrack location for a producer to drill after Welchau -1 well (Q2 2024) ✓ Determine locati
Slide 14: Upper Austria Exploration Program
For personal use only Upper Austria Exploration Program Drill ready prospects with access to infrastructure that are funded by farmouts 14
Slide 15: Upper Austria Exploration
15 Upper Austria Exploration High impact, drill ready portfolio in the heart of Europe 1020 km For personal use only 807 bcfe1 World-class Welchau 2 1 gas prospect to be drilled in 2024. Adjacent to tested gas discovery at Molln acreage 20 Prospects 2 Multiple High Impact Gas Prospects and new High
Slide 16: Welchau-1 Summary
16 Welchau-1 Summary Prospect History 1989 Molln-1 well test ▪ Northern Calcareous Alps exploration (OMV 1985 For personal use only to 1995 & RAG/OMV 2012 ) ▪ Four offset wells drilled (1 gas and 1 oil discovery) in the foothills of the Austrian Alps ▪ New structural model based on integrated field
Slide 17: Welchau-1 Prospect Resources summary
17 Welchau-1 Prospect Resources summary Comparison of ADX and Gaffney Cline Prospective Resource Estimates 2 Welchau Drill Site Location Austrian Forestry Department landowner For personal use only ADX Gross Prospective Resource Estimates (Reported 20 June 2022) Hydrocarbon Type Unit Minimum Best Te
Slide 18: Welchau-1 Drilling Operations
18 Welchau-1 Drilling Operations Permit: Well scheme Operational Readiness ADX AT-II JV: Success case ADX 100% Welchau well site construction on 10 January 2024 Well name: WELCHAU 1 For personal use only 1. Drilling and Environmental Permits UWI: WEL-001 Spud-in point : Directional w aypoints: Targe
Slide 19: Welchau-1 Prospect Commercial Fundamentals
19 Welchau-1 Prospect Commercial Fundamentals Drill depth, location and gas markets Austrian Gas Net Work 1. Relatively shallow drill depth approx 1800 m Gas transit connected to Italy, Germany, Slovakia, Slovenia, Hungary For personal use only 2. Short tie-in distance to the national gas pipeline n
Slide 20: Welchau vs European gas projects comparison
20 Welchau vs European gas projects comparison Austria’s onshore setting & access to existing infrastructure delivers superior economics Country Austria U.K. Italy For personal use only Asset type Onshore Offshore Onshore Cost Environment Medium High Medium 19-22% Royalty No Royalty 10% Royalty 24%
Slide 21: Planned Gas Exploration
21 Planned Gas Exploration IRR–1 Gas Prospect (Planned Q4 2024 Drilling) New technical interpretation using seismic responses indicative of IRR Min Best Max gas and nearby well data Prospect (P90) Technical (P10) For personal use only Analysis of analogous gas reservoirs in nearby gas field has led
Slide 22: New Trend of Low Risk, Shallow Gas Prospects
22 New Trend of Low Risk, Shallow Gas Prospects Portfolio addition from new ideas and state of the art techniques New gas prospects have been matured Best Technical Fluid Prospect Recoverable Combination of AI Software, an international team of (Expected) For personal use only (BScf if gas) stratigr
Slide 23: ADX Role in European Energy Transition
23 ADX Role in European Energy Transition Well positioned in the near-term as well as long-term Growth in Global Energy Demand Oil & gas demand continues to increase For personal use only The transition to renewables is taking longer than Pace of Transition to Date expected Gas is a transition fuel
Slide 24: The ADX Team
The ADX Team 24 Experience of our Board and Management Team A highly experienced management team For personal use only with a proven track record of initiating, operating and developing international energy projects. Mr Ian Tchacos, Executive Chairman Ms Amanda Sparks, Finance Manager & Co Company S
Slide 25: Thank you for your attendance
For personal use only Thank you for your attendance For further information contact: Ian Tchacos ASX: ADX Executive Chairman adx-energy.com [email protected] Amanda Sparks Finance Manager & Company Secretary Connect with Us [email protected] Better energy A cleaner smarter fu