Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (September 2004)
22 slides from Synergia Energy's investor presentation, September 2004
Slide 1: Investor Presentation
Investor Presentation David Archibald – Managing Director September 2004
Slide 2: Overview of Oilex
Overview of Oilex Initial focus on exploration in the Surat and Eromanga Basins Listed 24 October 2003 after raising $3m through the issue of 15m shares at $0.20 per share June 2004. Raised a further $836,000 through the placement of 4.4m shares at $0.19cps Capital Structure 33,957,007 share
Slide 3: Rookwood South-1
Rookwood South-1 DST 1 flowed at a rate equivalent to 352 BOPD from a 2 metre sand at the top of the Boxvale Sandstone. This discovery established a new trend along the Boxvale pinchout edge on the western flank of the Surat Basin. Stratton-1 drilled by Hartogen in 1984 at the northern end of
Slide 4: Rookwood South-1 Boxvale Section
Rookwood South-1 Boxvale Section Although the middle sand is currently not interpreted to have oil saturation at Rookwood South- 1, while the same sand has oil in side wall cores in Rookwood-1, the interpreted oil saturation in basement suggests potential for other oil columns on the structure.
Slide 5: Timetable to Production
Timetable to Production Rookwood South Well casing is complete A workover rig will run tubing Perforation of the casing will be completed A beam pump will be installed Production is anticipated to commence within 3 weeks Production is anticipated to be at a minimum rate of 300 bopd from
Slide 6: Leads and Prospects
Leads and Prospects Stratton Prospect Stratton-2 to be drilled in October Oil shows in side wall cores over an eight metre interval in the Basal Evergreen Sandstone A bottom hole DST will be conducted on entering the Basal Evergreen sand. Based on an 8 metre column, the Stratton structure is
Slide 7: Otway EPP Overview
Otway EPP 27 Overview ABN 80 078 852 632
Slide 8: Otway Overview
Otway Overview The Otway Basin has the same rock sequence as the Gippsland Basin Gippsland Basin has a “failed third arm” structural style while the Otway is “Atlantic margin” style – rotated fault blocks Large, dry gas fields have been found in the eastern Otway to date
Slide 9: EPP 27 History
EPP 27 History Granted to Tyers Petroleum, put into the Great Artesian float Woodside had farmed in to earn 90% with seismic and one well Woodside spent $11 million on reprocessing and 3D seismic Permit given back to Great Artesian in late 2003
Slide 10: EPP 27 History: What Woodside Found
EPP 27 History What Woodside Found 39 gas leads and prospects and one oil lead identified from initial AVO analysis Largest prospect is the Cobana Prospect of 3.4 TCF 24 leads and prospects are 50 BCF or larger Total gas identified is 8.5 TCF Gas chimneys extending to the sea floor, indica
Slide 11: Why EPP 27?
Why EPP 27? EPP 27 is highly prospective The abundance of amplitude anomalies indicates prolific hydrocarbon generation High prospect density from the closely spaced rotated fault blocks Multiple stacked reservoirs in each fault block Sniffer survey in 1980 found gas in equilibrium with oil
Slide 12: Rotated Fault Block Structural Style
EPP 27 Rotated Fault Block Structural Style
Slide 13: Brightening at the seafloor due to a gas chimney
EPP 27 Brightening at the seafloor due to a gas chimney
Slide 14: Palaeogeography, K56 Reservoir
EPP 27 Palaeogeography, K56 Reservoir (Paaratte/CSOP Sands) The area southeast of Breaksea Reef-1 has the optimal sand/shale ratio and sediment package geometry
Slide 15: Play Types
EPP 27 Play Types Depth(m) 0- 1000 + 2000 + 3000 + 4000 ~ 5000 4 sw Reservoir: Waarre Fm. PEBBLE POINT Lower Paraatte Fm. Flaxman Fm. Pebble Point Fm. Seal: Belfast Fm. Intra Formational Shales in Paraatte Fm. Pember Fm. UPPER PAARATTE FM. Source: EumerallaFm (gas prone) Risks: Cross Fault Seal. Por
Slide 16: Cobana Lead amplitude map
EPP 27 Far Data Flaxman/Waarre Reservoir COBANA LEAD Near Data Flaxman/Waarre Reservoir Australia Eastern Australia Ventures South Eastern New Ventures 1km South New Title : Av. Absolute Amplitudes, Top Flaxmans Reservoir By : Date : Location : Slide No: 50 Hydrocarbons are detected by the brighteni
Slide 17: Rico Lead
Rico Lead Top Paaratte RICO LEAD TWT (msec) Top Belfast This deepwater lead is similar to the Amrit-1 and Callister-1 wells to be drilled by Santos in late 2004
Slide 18: The Value of Gas
The Value of Gas For gas reserves above 3 TCF, gas to diesel may be commercial at high oil prices Process economics are very much dependent on scale At sustained high oil prices, the value of gas approaches that of oil in terms of energy content, less the conversion loss 8.5 TCF identified p
Slide 19: The Deal with Great Artesian
The Deal with Great Artesian Drill one well to earn 60% Option to drill second well to earn another 15% DHIs are a successful exploration tool in the Otway Basin
Slide 20: Oilex Strategy
Oilex Strategy Drill stacked amplitude anomaly prospect in the southeastern end of EPP 27 Very low geological risk and completion risk Multiple gas columns provide certainty of a discovery with multiple chances for an oil column Woodside’s Prospects and Leads Inventory * Name Fomation Size BCF
Slide 21: EPP 27 Summary
EPP 27 Summary EPP 27 hosts a large number of small to moderate-sized oil pools in moderate water depths Gas effects on seismic are a pathfinder to prospects that have trapped hydrocarbons Stacked sands in a fault block provide multiple opportunities to intersect an oil column The gas value
Slide 22: Capital Raising and Oilex Summary
Capital Raising Capital raising announced to the ASX 24 September 2004 Placement of up to $8 million Hartleys Limited is Lead Broker to the placement Capital raising used to fund the EPP 27 drilling program and Surat Basin drilling program Placement subject to shareholder approval with not