ADX Energy Ltd · ASX:ADX
ADX Energy — AuDAX Resources — Corporate Update (August 2008)
44 slides from ADX Energy's corporate update, Aug 11, 2008
Slide 1: ASX cover letter: company update presentation
For personal use only 11 August 2008 ASX Limited Company Announcements Office 20 Bridge Street Sydney NSW 2000 Dear Sir The attached presentation is a update of the Company’s activities. A copy of this presentation will also be available on the Company’s website www.audax.com.au. For further details
Slide 2: Corporate Update August 2008
For personal use only Corporate Update August 2008
Slide 3: Disclaimer
DISCLAIMER For personal use only This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be effected by a variety of variables whic
Slide 4: Introduction
For personal use only INTRODUCTION
Slide 5: Strategy: Two Pronged Approach
STRATEGY For personal use only TWO PRONGED APPROACH Grow the European and North African oil and gas business in order to expose shareholders to the lucrative European energy market Promote existing Australian energy, gold and base metal portfolio f to capitalize on the high commodity price envir
Slide 6: AuDAX Resources
AuDAX Resources Australian based oil & gas exploration company For personal use only Experienced management team and proven oil finders Focus F on proven oilil basins b i Focus on optimal fiscal terms High impact portfolio - exploration and development opportunities Corporate growth stag
Slide 7: AuDAX Targets and Plans
AuDAX TARGETS AND PLANS For personal use only AuDAX is operator of all oil and gas assets Superior fiscal terms in all countries where active Corporate growth stage 2 9 signed drilling management contract with Equinox • close SPAs • complete farm out for Kerkouane and Pantelleria • sign drilli
Slide 8: Recent Achievements
RECENT ACHIEVEMENTS TUNISIA: TUNISIA For personal use only ¾ AuDAX approved as Tunisian operator by authorities (DGE, ETAP & CCH) ¾ Received approval from ETAP for transfer of title on 28th of April 2008 ¾ Received R i d approvall ffrom Directeur Di t G General l d’Energie d’E i for f extension t
Slide 9: Resource Base Highlights
RESOURCE BASE HIGHLIGHTS For personal use only Sicily channel 700 million barrels resource* Onshore Tunisia 100 million illi b barrels l resource** * Unrisked most likely recoverable resources, net to AuDAX at current equity levels (i.e. 70% in Sicily Channel, 50% in Chorbane).
Slide 10: Near Term Growth
NEAR TERM GROWTH For personal use only Large Sized Company Maker: Italyy & Tunisia Offshore: Sambuca Prospect, Drill Q1 2009 Mid - Large Sized Company Maker: Tunisia Offshore: Dougga Gas & C d Condensatet DDevelopment: l t D Drill ill Q 2 2009 Mid Sized Company Makers: Tunisia Onshore: Chorbane Expl
Slide 11: Exploration & Development
For personal use only EXPLORATION EXP ORATION & DEVELOPMENT
Slide 12: Highlights
HIGHLIGHTS HIGH IMPACT EXPLORATION PROSPECT IN OFFSHORE TUNISIA & ITALY: For personal use only ¾ Sambuca “Company Maker” offshore Italy and Tunisia: 270 mmboe (mean prospective recoverable resources) TUNISIA: APPRAISAL & DEVELOPMENT OF DOUGGA DISCOVERY: ¾ Successful Appraisal well will quickly e
Slide 13: European & North African Portfolio
EUROPEAN & NORTH AFRICAN PORTFOLIO ROMANIA For personal use only FUTURE EXPLORATION & APPRAISAL VIENNA KERKOUANE CONDENSATE APPRAISAL G.R.15.PU (ITALY) EXPLORATION CHORBANE EXPLORATION
Slide 14: Tunisia & Italy
For personal use only TUNISIA & ITALY
Slide 15: Tunisia & Italy Assets
TUNISIA & ITALY ASSETS For personal use only Tunisia: KERKOUANE 70% AuDAX 30% Kairiki Italy: G.R.15.PU (Pantelleria) 70% 0% AuDAX u 30% Kairiki Tunisia: CHORBANE 50% AuDAX 50% Kairiki
Slide 16: Recent Developments
RECENT DEVELOPMENTS TUNISIA: For personal use only ¾ Acquired 100% of Kerkouane permit ¾ AuDAX approved as Tunisian operator by authorities (DGE, ETAP & CCH) ¾ Kerkouane license extended until Q1 2010 without any further commitments. ¾ Dougga appraisal well allowed as “exploration“ commitment well
Slide 17: Sicily Channel: Kerkouane & Pantelleria
SICILY CHANNEL: KERKOUANE & PANTELLERIA Under Explored: 4,500 km2 area between oil & gas fields. For personal use only Only 2 wells on both permits. Oil Field Gas Condensate SICILY (ITALY) Nilde Zibibbo Dougga Tazerka Birsa Yasmin Oudna TUNISIA Cosmos
Slide 18: Sicily Channel Prospects
SICILY CHANNEL PROSPECTS For personal use only Sambuca-Over thrust (17) C B Cap-Bon – Mare M (77) North Sambuca M Mean Prospective P ti Resources R Most Likely Reserves HC ‐ Gas Oil & Condensate Oil Equivalent PROSPECTS [bcf] [mmbls] [mmboe] Sambuca (Birsa, Ain Grab, Abiod) 216 234 270 Sambuca (270)
Slide 19: Dougga & Sambuca: Drilling Soon!
DOUGGA & SAMBUCA: DRILLING SOON! For personal use only SICILY (ITALY) Q1 2009: DRILL SAMBUCA OIL PROSPECT 270 mmboe resource potential (P50) 640 mmboe resource potential (P10) Q2 2009: APPRAISE DOUGGA DISCOVERY 29 mmbbls condensate, 420 bcf sales gas TUNISIA
Slide 20: Dougga & Sambuca
DOUGGA & SAMBUCA For personal use only NEAR TOP ABIOD DEPTH MAP Sambuca TUNISIA ITALY Dougga
Slide 21: Dougga & Sambuca: Drilling Soon!
DOUGGA & SAMBUCA: DRILLING SOON! For personal use only Dougga-1 Sambuca Birsa Oil Reservoir Ain Grab G Oil O Proven Abiod Gas Abiod Gas Condensate Condensate
Slide 22: Dougga – Gas Condensate Discovery
DOUGGA – GAS CONDENSATE DISCOVERY Dougga 1 Dougga-1 For personal use only Pantelleria Graben Note clear up-dip section at Abiod level west of Dougga-1: Large upside potential: more than 500 meters of gas condensate column.
Slide 23: Dougga Development
DOUGGA DEVELOPMENT FPSO development with condensate and LPG separation. Raw gas For personal use only stream to onshore CO2 removal Development Schematic Condensate to export plant, approx. 40 km. FPSO 2 – 3 well development with total off take rate of 100 mmscf/d Umbilical/riser Mooring lines
Slide 24: Dougga Gas Condensate Field: Satellite Structures
Dougga Gas Condensate Field: H Large & Attractive Satellite Structures H1 For personal use only Tunisia Italy Pantelleria Graben DOUGGA - NORTH Composite Dougga-1 line H H4 H3 10 km
Slide 25: Dougga North: Nilde Oil Field Analogy
DOUGGA NORTH: NILDE OIL FIELD ANALOGY E SE For personal use only Dougga-1 Seismic Line from Kerkouane Block Geologic Section through Nilde field Nilde Oilfield in Italy, approx. 60 km further North
Slide 26: Italy – Sicily Channel X-Section
ITALY – SICILY CHANNEL X-SECTION For personal use only Nilde Oil Field Dougga-North: Nilde Analogy NW SE 10 kilometers Nilde Oil Field: 25 mmbbls
Slide 27: Other Kerkouane Prospects: Example N. Tazerka
OTHER KERKOUANE PROSPECTS: EXAMPLE N. TAZERKA SE NW For personal use only North Tazerka Prospect Zibbibo Oil Field DOUGGA FIELD Mid Birsa Ain Grab Potentially large extension of Tazerka field. North Tazerka 3D seismic was recently acquired over the abandoned Tazerka oil field (22 mmbbl cum. producti
Slide 28: Onshore Tunisia: Chorbane
ONSHORE TUNISIA: CHORBANE To T Date: D t 6 St Structural t lL Leads d Id Identified tifi d For personal use only Multiple Objectives from Jurassic through Eocene Analogue Fields in Trend for All Reservoirs Good Seals Above All Reservoirs Mature Cretaceous Source Rocks at Prospect Locations Ypre
Slide 29: Chorbane Prospect Example
CHORBANE PROSPECT EXAMPLE For personal use only TOP NARA (Jurassic) ESTIMATED AT 2400 to 2500m TOP NARA TIME MAP TOP ABIOD TOP APTIAN TOP JUARSSIC Large structure with multiple (4) pay zone possibilities (Sidi Daher)
Slide 30: Tunisia Other Opportunities
TUNISIA OTHER OPPORTUNITIES For personal use only Storm Ventures International Cosmos – Yasmin Offshore Development Opportunity: 33.33% WI for sale Cairn Energy: 2 deep semi – sub wells in Nabeul Block in 2009 next to AuDAX Kerkouane & Pantelleria Block Ksour Essaf Block ((E4)) Developing p g Gas Pl
Slide 31: Tunisia & Italy Summary
TUNISIA & ITALY SUMMARY For personal use only Two Company Maker Projects in proven petroleum province Large L number b off prospects t (1 billion billi bbls bbl mostt likely lik l unrisked i k d total resources) close to facilities Industry activity strongly picking up: Right Time – Right Plac
Slide 32: Romania
For personal use only ROMANIA
Slide 33: Romania
ROMANIA For personal use only The most prolific onshore European hydrocarbon province is for the first time opening up to competition, new technology and the European Community political & legal regime
Slide 34: Highlights Romania
HIGHLIGHTS ROMANIA In 2008 the largest ever relinquishment of Romanian For personal use only Creaming curve Exploration & Production acreage (+ 22,000 sqkm) is expected under European Community (EC) Law. Romania has been a member of the EC since January 2007. Exploiting this unique opportunity is t
Slide 35: 9th Round Example: Flank Potential Around Field
9TH ROUND EXAMPLE: FLANK POTENTIAL AROUND FIELD SW NE For personal use only SW Undrilled Stratigraphic reserves potential ¾Bid deadlines for the 9th Round are expected in Q1 2009. ADX & AMI partners have acquired database ahead of competition: Æ Already delivering.
Slide 36: Area on Trend with Giants
AREA ON TREND WITH GIANTS RIGHT TIME – RIGHT PLACE For personal use only Magurele Field ~ 983MMbbls ((In Place) Urlati Field ~ 428MMbbls (In Place) Piscuri Field ~ 1734MMbbls (In Place) Gura Sutii Field ~ 449 BCF (In Place)
Slide 37: Australia
For personal use only AUSTRALIA
Slide 38: Cooper Basin (South Australia)
COOPER BASIN (South Australia) For personal use only Flaring Vanessa-1 Gas Discovery • AuDAX operated • Programme – 4 exploration l ti wells ll – 1300 km of 2D seismic reprocessing • Gas discovery – Vanessa 1 – Flowed gas from 2 zones at combined rate of 9mmscf/d; condensate shows – Undamaged rates
Slide 39: Western Australia Minerals Interests
WESTERN AUSTRALIA MINERALS INTERESTS A AuDAX DAX iis iin th the process off ffarming i outt th the gold ld mining i i ttenements t For personal use only Western Australia: Marymia Gold Development Area 7 K5 Area 6
Slide 40: For personal use only
For personal use only
Slide 41: Summary & Conclusions
SUMMARY & CONCLUSIONS For personal use only AuDAX has a balanced portfolio of exploration and appraisal opportunities. This includes “bread and butter” projects in Australia with excellent and highly economic growth potential in Romania. With its existing assets AuDAX could be transformed from
Slide 42: Activity Summary
ACTIVITY SUMMARY For personal use only Area/ Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4 /09 Q1/10 Permit Sambuca Dougga cily Channel Pantelleria Seismic Acquisition & Kerkouane Reprocessing & PSDM (70%) Onshore Sic Tunisia Chorbane Seismic Reprocessing & PSDM (50%) T O 9th and 10th Seismic Reprocessing Romani
Slide 43: Near Term Growth
NEAR TERM GROWTH For personal use only Large Sized Company Maker: Italyy & Tunisia Offshore: Sambuca Prospect, Drill Q1 2009 Mid - Large Sized Company Maker: Tunisia Offshore: Dougga Gas & C d Condensatet DDevelopment: l t D Drill ill Q 2 2009 Mid Sized Company Makers: Tunisia Onshore: Chorbane Expl
Slide 44: Contact
CONTACT For personal use only Wolfgang Zimmer: Managing Director Paul Fink: Technical Director Gary Roper: Chairman Office: 125 Edward Street, Perth Australia WA 6000 Ph: +61 8 9328 4622 Fax: +61 8 9328 2869 Website: www.audax.com.au Email: wolfgang.zimmer@audax-resources.com paul.fink@audax-resourc