Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Investor Presentation (September 2015)
27 slides from Carnarvon Energy's investor presentation, Sep 23, 2015
Slide 1: Corporate presentation to Proactive Investor
ASX: CVN Corporate presentation to Proactive Investor 22 & 23 September 2015
Slide 2: Disclaimer
Disclaimer The Resource estimates outlined in this report were reviewed by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga has over 20 years’ experience in petroleum exploration and engineering. Mr Huizenga holds a Bachelor Degree in
Slide 3: Carnarvon Petroleum At a glance
Carnarvon Petroleum At a glance 3
Slide 4: Carnarvon snapshot
Carnarvon snapshot A$100m value on ASX High impact Roc-1 well drilling ~Nov 2015 A$100m* in cash; plus future income stream; and debt free * Converted from USD to AUD at 0.70 4
Slide 5: Carnarvon is characterised by:
Carnarvon is characterised by: Being well funded with its market capitalisation supported by substantial cash and liquid assets of ~A$120 million High impact upside from the upcoming Roc-1 well, at minimum risk to investors via a favourable free carry Having an accomplished in-house technical team,
Slide 6: Corporate overview
Corporate overview Share price A$0.10 Market capitalisation A$100m Net cash A$100m Enterprise value A$-m 6
Slide 7: Carnarvon's permits in the North West Shelf
Carnarvon’s permits in the North West Shelf Cerberus Phoenix project project ~3,500km2 ~22,000km2 CVN: 100% CVN:20-30% Appeal of the NWS • Prolific oil and gas region • CVN technical knowledge • Opportunities • new areas • new play types Phoenix South-1 oil discovery • Attractive value proposition •
Slide 8: Board of Directors
Board of Directors Peter Leonhardt – Chairman Peter is an independent company director and adviser with extensive business, financial and corporate experience. He is a Chartered Accountant, former Senior Partner with PricewaterhouseCoopers and Managing Partner of Coopers & Lybrand in Western Austral
Slide 9: Management Team
Management Team Philip Huizenga – Chief Operating Officer Philip is a petroleum Engineer with nearly 20 years in the oil and gas industry encompassing drilling, logging and production on offshore and remote locations throughout Australian, Asia and the Americas. Phil was previously with Tap Oil duri
Slide 10: Oil & Gas sector At a glance
Oil & Gas sector At a glance 10
Slide 11: Oil sector is currently under pressure
Oil sector is currently under pressure Note: The Brent oil chart is in US$ and compiled using the daily price from 4 January 2000 to 12 January 2015. Data from EIA. 11
Slide 12: The challenge is to anticipate the value shifts
The challenge is to anticipate the value shifts “Skate to where the puck is going, not to where it has been” Wayne Gretzky Asian Energy demand predicted to be strong, particularly China 12
Slide 13: Phoenix Project New oil province
Phoenix Project New oil province 13
Slide 14: Phoenix: first 3D data over 1980 discovery
Phoenix: first 3D data over 1980 discovery Phoenix MC3D seismic data covering ~1,100km2 (~5%) of the 22,000km2 total acreage held by CVN and partners 2009 - CVN and partner acquire interest in the acreage in Government bid process Phoenix-1 well 2011 - CVN and partner complete Roc-1 well – Q4, CY201
Slide 15: Phoenix: Phoenix South-1 oil discovery
Phoenix: Phoenix South-1 oil discovery Positives • High quality light oil • Large structures / large volumes Challenges • Reservoir quality • Formation stability 46º Remaining uncertainties API Oil • Contribution of fracture network to productivity • Variation in reservoir quality spatially and with
Slide 16: Phoenix: best estimate 104 mmbbls in 5% of acreage
Phoenix: best estimate 104 mmbbls in 5% of acreage Independent assessment Resources (mmbbls) Phoenix-1 well Roc-1 well (by DeGolyer & MacNaughton) Phoenix South-1 well Low Best High Phoenix and Phoenix South 13 31 78 Contingent resources Roc, Bewdy, Bottler 35 73 154 Prospective resources Total (ari
Slide 17: Phoenix: 104 mmbbls in 5% ……. what's in the rest?
Phoenix: 104 mmbbls in 5% ……. what’s in the rest? Resource estimate of 104 mmbbls (viz. mid case) is within 5% of acreage held 17
Slide 18: Phoenix: whole hydrocarbon basin in CVN acreage
Phoenix: whole hydrocarbon basin in CVN acreage 18
Slide 19: Phoenix: start with acquiring significant new data
Phoenix: start with acquiring significant new data Highlights WA-436-P CVN: 30% WA-435-P • The initial Phoenix MC3D CVN: 20% covered ~5% of acreage holding • At end of CY 2015 the total 3D data set will cover ~45% of CVN’s acreage holding • The new data is intended to assist in identifying new targe
Slide 20: Phoenix: active exploration program is now underway
Phoenix: active exploration program is now underway 2015 2016 2017 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Drilling Roc-1 well Contingent Roc test Contingent #1 well Contingent #2 well Phoenix 3D
Slide 21: Cerberus Project New project
Cerberus Project New project 21
Slide 22: Cerberus: Early Triassic initial focus
Cerberus: Early Triassic initial focus Phoenix (CVN 20-30%) • Early Triassic oil discovery Land Cerberus (CVN 100%) • Similar Early Triassic potential • Acquired in May 2014 before Phoenix South • Significant oil targets Phoenix South discovery Rivers Perth Basin • Early Triassic oil and gas Land 22
Slide 23: Cerberus: Multiple targets identified
Cerberus: Multiple targets identified Upper Jurassic Lower Triassic Upper turbidite fan submarine Permian traps channel stratigraphic structural traps closures A Interpreted A’ Horizons Permian 23
Slide 24: Cerberus: prolific hydrocarbon region
Cerberus: prolific hydrocarbon region Highlights • Proven petroleum system • Multiple play potential • Large volume fields nearby • Shallow water acreage with shallow target prospects • Close to pipeline infrastructure and onshore services • High value success case 24
Slide 25: Conclusion NWS exploration specialist
Conclusion NWS exploration specialist 25
Slide 26: Growth options and cash backed
Growth options and cash backed 26 26
Slide 27: Think different Act different
Think different Act different 27
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