Finder Energy Holdings Limited · ASX:FDR
Finder Energy — Investor Presentation (September 2024)
34 slides from Finder Energy's investor presentation, Sep 10, 2024
Slide 1: Corporate Presentation
Corporate Presentation September 2024 ASX : FDR
Slide 2: Timor-Leste Acquisition Highlights
Timor-Leste Acquisition Highlights Transformational Perfect Fit High Quality Upside Acquisition Resource Shift from pure Rare and affordable 45 MMbbl 2C + Multiple value creation explorer to developer greenfield project 116 MMbbl Pmean* pathways Development-ready Supportive government Excellent rese
Slide 3: Corporate Snapshot
Corporate Snapshot (ASX:FDR) $0.05 $5.0m Shareholder Breakdown (%) Current Share Price Enterprise Value (EV) 6 Sep 2024 37.8% 46.6% $12.1m Market Capitalisation1 242.6m Shares on issue3 45.8 MMbbl Net 2C Resources4 34.4% Fully Diluted 2.5% 56.5% 53.4% 62.2% 6.7% $7.1m $0.11 AUD Net Cash EV/bbl 6 Sep
Slide 4: High growth operated asset portfolio
UK - North Sea 6 ILX Strategy with strategic Licences high-quality partners PSC 19-11 Timor-Leste Discovered Oil Fields & Exploration Upside Rapid path 45 MMbbl 2C + High growth to First Oil 116 MMbbl Pmean1 operated asset Australia – North West Shelf portfolio 2 Permits Strategic position in highly
Slide 5: Strategic Drivers
Strategic Drivers 1 Timor-Leste adds geographic diversity to portfolio Kuda Tasi 16 MMbbl Karungu 49 MMbbl Jahal • Stable, developing nation whose future prosperity is tied to 6 MMbbl development of its oil and gas resources Lanjara/SW 35 MMbbl • Strong support from the Government, ANP and TIMOR GAP
Slide 6: Discovered oil fields plus appraisal and exploration upside
Discovered oil fields plus appraisal and exploration upside Contingent and Prospective Resources1 22 Oil – MMbbl Kuda Tasi & Jahal Undeveloped Oil Fields Discovered • 5 wells – appraised, logs, core & well tests • Light high-quality oil - >55 API and Appraised • Excellent reservoir quality MMbbl • D
Slide 7: Indicative Project Timeline and Milestones
Indicative Project Timeline and Milestones 2023 2024 2025 2026 2027+ Completion Project Resource Project FEED FDP FID FID First Updates Certification Economics Approval Ready Oil ASX Execute Dev. Project Dev. Area FDP Project Production Announcements SPA Update Approval Submission 2P Reserves Execut
Slide 8: Development Strategy
Development Strategy Kuda Tasi and Jahal Development Project FPSO Objective – achieve FID and First Oil quickly and cost-effectively • Same high quality Laminaria/Elang formation reservoir and excellent high API gravity undersaturated oil as surrounding oil fields 400m water depth • High production
Slide 9: Prolific Laminaria High oil province
Prolific Laminaria High oil province Squilla Field – Produced PSC 19-11 9 MMbbl Kurisi Field – Discovered (2C)1 30 MMbbl Top Reservoir 3D Prospect – Pmean1 Visualisation Krill 14 MMbbl 1. ASX announcement 8 August ‘24 Refer resources table in Appendix for further details and disclosures Kitan 26 MMb
Slide 10: Laminaria High 3D Seismic
Laminaria High 3D Seismic Kuda Tasi Jahal Lanjara Kitan Oil Karongo Krill Kurisi Oil Field Oil Field Prospect Field Discovery Discovery Prospect Nth Sth Early Cretaceous and Late Jurassic shale seal Middle Jurassic Laminaria and Plover sandstone reservoir 5 km Ikan 3D pSTM PSC 19-11 PSC19-10 PSC 19-
Slide 11: Finder Energy Board and Management
Finder Energy Board and Management Bronwyn Barnes Damon Neaves Shane Westlake Fred Wehr (PhD, GAICD) Independent Chairman CEO / Managing Director Technical Director Independent Non-Exec Director Extensive career in the resources sector, 20 years in leadership roles as an oil and gas Geophysicist wit
Slide 12: UK North Sea – ILX Exploration Portfolio Update
UK North Sea – ILX Exploration Portfolio Update Finder licence P2610 (50%) Prolific Central North Sea Production N • Recent Labour fiscal changes have platform 40 km narrowed focus to large scale FPSO P2655 (100%) Gina Krog resources/high margin ILX Claymore Piper prospects Tartan Sleipner • Finder’
Slide 13: Australia - key positions in prolific basins
Australia - key positions in prolific basins Prolific NWS acreage Northern Carnarvon Basin Vulcan Sub-basin WA-547-P (100%) Phoenix Proven Play Oliver Phoenix surrounded by full- • 508 MMboe over 3 key prospects1 South Roc to-spill discoveries • Along trend from Dorado Discovery Dorado Pavo Audaciou
Slide 14: PSC 19-11 Technical Overview
PSC 19-11 Technical Overview
Slide 15: Prolific Middle Jurassic Petroleum System
Prolific Middle Jurassic Petroleum System Stratigraphy Top Laminaria Formation Reservoir Depth Map PSC 19-11 Oil Fields 1 Karungu Kuda Tasi (3 wells) 2C – 16 MMbbl SEAL Kuda Tasi 56 API oil, DST 5,200 bopd Field wide OWC 3,423 mSS Jahal Jahal (2 wells) Corallina 2C – 6 MMbbl Laminaria Fm -Kitan Lanj
Slide 16: Kuda Tasi Oil Field Summary
Kuda Tasi Oil Field Summary • High value light oil (56 API) discovered in excellent quality Gross Contingent Resources Laminaria Fm sandstone reservoir Oil (MMbbl)1 • Fully appraised with 3 wells defining field size and field 1C 2C 3C wide oil-water-contact (OWC) at 3,422 mSS 9 16 25 Kuda Tasi • Kud
Slide 17: Jahal Oil Field Summary
Jahal Oil Field Summary • 33m net oil pay Jahal-1 • Wells confirmed a field wide OWC at 3,283mSS Jahal-1 ST • DST flowed light oil (57 API) with no pressure depletion Jahal-1 Sidetrack Sw PHIE • Reservoir petrophysics GR 1 0 0.25 0 N • Core poro/perm up to 1 km 15% and 1,000 md • Net:gross ~75% Top
Slide 18: Concept Study Engineering
Concept Study Engineering High flow rates provide • Excellent quality reservoir with high productivity and quick capex payback deliverability • Natural depletion – regional aquifer provide strong Typical Laminaria High reservoir pressure support Modelled Production Type Curve • High recovery factors
Slide 19: North Sea – UK Exploration Licences
North Sea – UK Exploration Licences 19
Slide 20: UK North Sea – ILX Exploration Portfolio
UK North Sea – ILX Exploration Portfolio 6 P2610 (50%) N 40 km Johan Svedrup P2655 (100%) Licences - all operated Gina Krog 12 Claymore Piper Sleipner Tartan MMBOE1 Scott Blake Kinnoull Net 2C Contingent Golden P2528, P2527 & P2656 (60%) Eagle 213 Britannia Buzzard Buchan MMBOE1 Everest Net 2U Prosp
Slide 21: P2528 | Whitsun Prospect
P2528 | Whitsun Prospect (Finder 60%) High end Big Buzz 3D illuminates Buzzard play fairway • A Buzzard Field analogue - stacked deep-water mass-flow sand Gross Prospective Resource* (MMbbl) GCoS Whitsun Buzzard Reservoir (J64) Amplitudes channels sealed by Kimmeridge clay deep marine shales P90 P50
Slide 22: P2610 | Boaz Gas/Condensate Prospect
P2610 | Boaz Gas/Condensate Prospect Finder 50% and Operator with strategic partner Equinor Gross Prospective Resource* (MMbbl) • Located in prolific South Viking Graben and close to • Nearby Eirin Field under development by Equinor to Boaz Prospect P90 P50 Pmean P10 producing fields and infrastruct
Slide 23: P2530 | Fulmar ILX Prospects
P2530 | Fulmar ILX Prospects (Finder 60%) Base Cretaceous time structure map with Fulmar reservoir interpods • ILX cluster with three low-risk Fulmar play structures • Multiple tie-back options to Stoinis Agar 83 MMbbls1 Bancroft nearby facilitites 20 MMbbls1 32 MMbbls1 Tye • Low-risk 4-way structur
Slide 24: P2655 & P2656 | South Halibut Shelf ILX
P2655 & P2656 | South Halibut Shelf ILX Regional Upper Jurassic Isochore Map New Round 33 awards with a focus on ILX prospectivity Scott HALIBUT HORST P2655 (Finder 100%) Hamish Big Buzz Ph II 3D P2655 Ivanhoe 45% completed • 4-year Phase A work program term with 630 km2 reprocessing project and G&G
Slide 25: North West Shelf - Australia Exploration Permits
North West Shelf - Austraila Exploration Permits
Slide 26: Australia - key positions in prolific basins
Australia - key positions in prolific basins 2 Northern Carnarvon Basin Vulcan Sub-basin Phoenix Proven Play Oliver Phoenix surrounded by full- Permits South Roc to-spill discoveries 5 Pavo Audacious Dorado Tenacious Mutineer Jabiru Exeter Cash/Maple Material Angel >70% exploration success rate Pros
Slide 27: WA-547-P | Dorado Trend – NWS premier HC play
WA-547-P | Dorado Trend – NWS premier HC play WA-547-P 5082U Dorado play extension Large 3D defined oil prospects MMboe 100% owned 3 Key Prospects1 Significant exploration upside in success N Port Hedland Pavo Roc Dorado Phoenix Brees Phoenix Sth Brady 6000 Regional Base msec Triassic Time Map
Slide 28: WA-547-P | Material prospectivity
WA-547-P | Material prospectivity Brees Prospect Favre Prospect Dorado Discovery Dual Targets, 4-way trap Dorado look-a-like 2C 344 Mmboe Pmean 235 MMbbl Pmean 244 MMbbl Brees Favre Dorado-1 Palma Shale Channel Incision Seal Hove Shale Seal Hove Barret Channel Reservoir Incision Seal Basement Seal E
Slide 29: AC/P 61 | Gem - low risk & surrounded by HC discoveries
AC/P 61 | Gem - low risk & surrounded by HC discoveries Regional Plover Depth Map Puffin • Proven play > 250 MMbbl Challis / Cassini Swan Maple/Cash Willeroo-1 Allaroo-1 60 MMbbl Jabiru Orchid-1 Brontosaurus-1 3.5 TCF produced/discovered within Ponderosa Tenacious 110 MMbbl basin Pengana-1 Douglas-1
Slide 30: APPENDIX: Petroleum Resource Tables
APPENDIX: Petroleum Resource Tables
Slide 31: Contingent and Prospective Resources
Contingent and Prospective Resources Contingent Resources7 Oil/Cond Gross Contingent Resources Net Contingent Resources ASX announcement reference date and Country Licence FDR Equity Name Status (MMbbl)/ notes3 Gas (BCF) 1C 2C 3C 1C 2C 3C Kuda Tasi Field Oil 9.0 15.6 24.8 6.8 11.9 18.8 ASX - 8 Aug 2
Slide 32: Notes on Petroleum Resource Calculations
Notes on Petroleum Resource Calculations Table Notes 1. Finder calculates reserves and resources according to the Society of Petroleum Engineers Petroleum Resource Management System (SPE-PRMS) definition of petroleum resources. Finder reports reserves and resources in line with ASX listing rules. 2.
Slide 33: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation has been prepared by Finder Energy Holdings Limited (ACN 656 811 719) (Finder or Company) to provide summary information about Finder and its associated entities and their activities current as at the date of this presentation. The information contai
Slide 34: www.finderenergy.com
+61 8 9327 0100 info@finderenergy.com www.finderenergy.com 34
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