Prominence Energy Limited · ASX:PRM

Prominence Energy — Investor Presentation (September 2018)

17 slides from Prominence Energy's investor presentation, Sep 12, 2018

  1. Slide 1: Good Oil Presentation - Bowsprit Project

    GOOD OIL PRESENTATION BOWSPRIT PROJECT CONVENTIONAL OIL DEVELOPMENT: OFFSHORE LOUISIANA Alex Parks Managing Director and CEO September 2018

  2. Slide 2: Executive Summary

    EXECUTIVE SUMMARY  Focus on Gulf of Mexico Conventional Oil  Sun has made a strategic shift to development of oil reserves in a neglected portion of Gulf of Mexico with Co-Venture participant Pinnacle Exploration Pte Ltd “Pinnacle”  Sun secured a 50% working interest in 1,154 acres leased in Bret

  3. Slide 3: Corporate Snapshot

    CORPORATE SNAPSHOT Capital Structure: As at 31 July 2018 Share Price History: As at a 5 September 2018 ASX code SUR Ordinary shares on issue 756m Listed options (A$0.01) exp. 19 October 2020 393.8m Listed options (A$0.006) exp. 31 May 2019 192.09m Share price as at 5 September 2018 A$0.004 Market ca

  4. Slide 4: Focus Area - Breton Sound, Louisiana

    FOCUS AREA - BRETON SOUND, LOUISIANA Prolific Hydrocarbon Province  St Bernard & Plaquemines Parishes (Red Oval) have produced 1.2billion bbls of oil and 5.2Tcf of gas since 1978  Favourable sedimentary circumstances combine with a variety of structures to provide excellent conditions for accumula

  5. Slide 5: Breton Sound – Bowsprit Project

    BRETON SOUND – BOWSPRIT PROJECT 50/50 Sun and Pinnacle – Bowsprit Lease History  Shell discovered deep field in 1955  Produced gas & condensate for 25+ years from deeper zones  1Bscf & 75k bbls of oil produced from 7,200’ & 7,400’ sand from vertical wells  Stacked zones with up to 55' feet of oi

  6. Slide 6: Bowsprit Cross Section

    BOWSPRIT CROSS SECTION  Field schematic and alternative interpretations  The Bowsprit Field is covered by high quality 3D seismic, it has an area of approximately 1,000 acres (4km2)  The gas in the 7,200’ sand stands out on seismic and conforms to structure. The 7,200’ sand is juxtaposed against

  7. Slide 7: Bowsprit Top Structure Map

    BOWSPRIT TOP STRUCTURE MAP  Map and Area of Contingent Resources, Prospective Resources and Suns Top Structure Map  Sun maps a package of sands under the 200ft thick shale that separates the 7,200’ and 7,400’ zones  RISC maps an onlap (7,400’ sand) and underlying deeper sand (7,400’ deep)  Overa

  8. Slide 8: Appraisal Program - Map View

    APPRAISAL PROGRAM - MAP VIEW  Work Program Well 1 in Proven Area – to show commercial Rate possible (~1,000bopd) from Horizontal well. 75,000bbls flowed in 1960’s at ~100bopd Up dip but undrilled Area Proven Produced Area Sun’s Target Timetable Select well locations using 3D model 2-4 weeks Permit

  9. Slide 9: Resource Summary

    RESOURCE SUMMARY RISC Advisory Ltd has probabilistically estimated the following contingent and prospective resources for the Bowsprit Project as of 15 March 2018: RISC’s independent estimate of resources net to Sun’s 50% working interest within polygon of held leases at 15 March 2018 Contingent Res

  10. Slide 10: STOIIP Summary

    STOIIP SUMMARY RISC Advisory Ltd has probabilistically estimated the following STOIIP & GIIP for the Bowsprit Project as of 15 March 2018: Potential Hydrocarbons Initially in Place Sand P90 P50 P10 Units Status 7,200’ 1.47 1.89 2.37 Bscf Proven in Place Flowed 18,000bbls and 1Bscf in 1960’s 7,400’ 0

  11. Slide 11: Bowsprit Development Plan Progress

    BOWSPRIT DEVELOPMENT PLAN PROGRESS  Implementation Team Appointed  Louisiana based FensterMaker to survey & permit the well and facility site location.  Louisiana based Brammer Engineering have been appointed to implement the project  Provided Pre- AFE well cost estimates, CAPEX and OPEX estimat

  12. Slide 12: The Project – Field Development Plan

    THE PROJECT – FIELD DEVELOPMENT PLAN  Conceptual Field Development Plan 2.5MMbbls & 3Bscf of associated gas is produced Source  5 horizontal wells US$ 15.5 Million Brammer Engineering (pre AFE)  Unmanned production facility US$ 4.5 Million installed Checked by Brammer  2.5km parallel export pipe

  13. Slide 13: Fit for Purpose, Low Cost Development Options

    FIT FOR PURPOSE, LOW COST DEVELOPMENT OPTIONS Shallow-draft barge drilling rig Suspended well with protection cage Typical production facility Production facility Typical well head with walk way to facilities Storage tanks with walk way to well head 13

  14. Slide 14: Sun's Growth Plan

    SUN’S GROWTH PLAN  Foundation Asset – Bowsprit Lease (Sun 50%)  Primary field on known accumulation with redevelopment potential  3D modelling and visualization, permitting to commence shortly, funding support for drilling  Drill & flow test well 1 to prove commercial rates & prove whole structu

  15. Slide 15: Conclusion

    CONCLUSION  Sun is 50% holder and Operator of a Low CAPEX high margin oil appraisal / development project with a net value of A$40-55 million at current oil prices in an upward trending oil price environment  Sun seeks to deliver project value to the order of 3c per share (at US$70/bbl) to maximis

  16. Slide 16: Important Information - Disclaimer

    IMPORTANT INFORMATION - DISCLAIMER This presentation has been prepared by Sun Resources NL (“Sun”) for the purpose of providing a company and technical overview to interested parties to enable recipients to review the business activities of Sun. This presentation is limited in scope and is not inten

  17. Slide 17: For further Information

    ABN 69 009 196 810 Level 2, 30 Richardson Street, West Perth WA 6005 Telephone: +61 8 9321 9886 Facsimile: +61 8 9321 8161 Email: admin@sunres.com.au Website: www.sunres.com.au For further Information Media and Investor Enquiries Mr Alex Parks (Managing Director and CEO) Email: alex@sunres.com.au 17

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