Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Investor Presentation (September 2021)
26 slides from Carnarvon Energy's investor presentation, Sep 15, 2021
Slide 1: Generating Value Through the Energy Transition
GENERATING VALUE INVESTOR PRESENTATION SEPTEMBER 2021 THROUGH THE For personal use only ENERGY TRANSITION GENERATING VALUE THROUGH THE ENERGY TRANSITION 1
Slide 2: Disclaimer
Disclaimer The resource estimates outlined in this Presentation are based on and fairly represent information and supporting documentation prepared by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full- time employee of the Company. Mr Huizenga has over 25 years’ experience in
Slide 3: How we plan to generate value through the energy transition
How we plan to generate value through the energy transition For personal use only Low cost Production Plantations: Future energy oil and gas of carbon neutral carbon storage and investments operations renewable diesel feedstock for and biochar renewable diesel GENERATING VALUE THROUGH THE ENERGY TRA
Slide 4: Business snap shot
Business snap shot World class Dorado development asset progressing For personal use only with near term transformational growth from drilling activities Capital structure Bedout basin Buffalo project Renewables project Market value of $391m Highly prospective region Field redevelopment Venture anno
Slide 5: Achievements & Targets
Achievements & Targets Dorado & Buffalo remain CVN’s core focus due to expected short For personal use only payback periods & ability to generate significant free cash flows Achievements Forward targets Project Activity Notable milestones Dorado Development FEED FEED commenced in June 2021, key cont
Slide 6: Low cost oil and gas operations
For personal use only Low cost oil and gas operations
Slide 7: Dorado liquids development
Dorado liquids development A world-class asset in Western Australia For personal use only Carnarvon holds a 20% interest in the project Low unit cost ………….………….Targeting <US$25/bbl (opex & capex) High quality liquids………… Expected to trade at a premium to Brent High flow rates……..……….…. Facilities de
Slide 8: Dorado progress
Dorado progress Development FEED milestone achieved in June 2021 For personal use only with key contracts for FPSO and Well head platform now issued Technical and economic Field Final Investment First production assessment discovered decision expected 75,000 to 100,000 bopd completed Field successfu
Slide 9: Dorado phase
Dorado phase 2 Significant near field opportunities means the joint venture For personal use only has made provision to accommodate a number of options Dorado gas export Pavo or Apus success (liquids) Pavo or Apus success (gas) • Flexibility in timing for gas • Enhances and elongates Dorado • Streng
Slide 10: Pavo & Apus exploration wells
Pavo & Apus exploration wells Two significant wells near Dorado in the Bedout basin, For personal use only drilling back-to-back in early 2022 (Pavo 30% CVN & Apus 20-30% CVN) 2C Contingent Mean prospective resources resources (net CVN) (net CVN), selected prospects 140 3 Growth 120 12 opportunity D
Slide 11: Bedout basin (CVN 20%-30%)
Bedout basin (CVN 20%-30%) Substantial exploration potential in the basin, with new 3D acquired For personal use only Indonesia Timor Darwin CVN 100% Truscott CVN 30% Katherine Wyndham CVN 20% Kununurra New 3D N data Derby Broome Canning N Port Hedland Basin Roc Karratha Dorado Pavo Exmouth Onslow A
Slide 12: Buffalo field (CVN 50%)
Buffalo field (CVN 50%) High quality oil, prolific reservoirs, in shallow water (1999 to 2004 production) For personal use only Indonesia Timor Buffalo field Darwin Truscott Katherine Wyndham Kununurra Derby Broome Canning N Port Hedland Basin Karratha Buffalo near field Exmouth Onslow exploration W
Slide 13: Buffalo unproduced attic
Buffalo unproduced attic The Buffalo-10 well will test the attic and remaining oil columns For personal use only with plans to retain it as a producer on success Buffalo-7 production Proposed well Buffalo-10 (2002) well Attic oil column being assessed by the Buffalo-10 well Existing oil column based
Slide 14: Buffalo field redevelopment
Buffalo field redevelopment Preparing to accelerate first production following Buffalo-10 well For personal use only whilst maintaining CVN’s <US$25/bbl cost target (capex & opex) GENERATING VALUE THROUGH THE ENERGY TRANSITION 14
Slide 15: Near term drilling
Near term drilling CVN will be actively drilling between November 2021 and April 2022 For personal use only Oct. Nov. Dec. Jan. Feb. Mar. Buffalo-10 well Pavo-1 well followed by Apus-1 well VALARIS JU-107 jack up drilling rig Noble Tom Prosser jack up drilling rig has also contracted and expected to
Slide 16: Energy transition
For personal use only Energy transition
Slide 17: Carnarvon's energy transition
Carnarvon’s energy transition Active in policy and investment For personal use only Focus on ESG responsibilities and role CVN agreed to seed Working towards a goal of in contributing towards Announced CVN’s 2050 A$2.6m to progress the first renewable diesel and more sustainable energy sustainabilit
Slide 18: CVN's renewables investment
CVN’s renewables investment FutureEnergy Australia (FEA) is a new renewables venture (CVN 50%), For personal use only to produce renewable diesel and biochar in Western Australia Commercial highlights: Renewable diesel Complements our Strengthens Business has Carbon production is a world class Carna
Slide 19: What is renewable diesel?
What is renewable diesel? FEA’s renewable diesel is NOT Biodiesel, For personal use only it IS a direct replacement for conventional diesel RENEWABLE DIESEL BIODIESEL Needs to be blended Replacement for End-use with conventional diesel conventional diesel (typically 80/20 ratio) Vegetable oils or an
Slide 20: Energy in transition
Energy in transition Additional investment opportunities expected in energy transition, For personal use only but oil will remain essential in the energy equation mid-term. GENERATING VALUE THROUGH THE ENERGY TRANSITION 20
Slide 21: Energy in transition
Energy in transition Additional investment in new oil supply is essential to ensure an For personal use only orderly and economically responsible energy transition. 125 100 Oil demand Million barrels of oil per day range 75 scenarios 50 Cumulative supply gap 25 Oil supply without 0 new fields 2020 2
Slide 22: Investment highlights
Investment highlights For personal use only WORLD BALANCED STRONG MARKET INNOVATIVE CLASS ASSETS PORTFOLIO CATALYSTS STRATEGY Headlined by our world class Actively pursuing broadening Clear outlook of significant Proactively embracing the demands Dorado project: energy and revenue streams: near term
Slide 23: Resource tables
For personal use only Resource tables
Slide 24: Bedout Basin Contingent Resources
Bedout Basin Contingent Resources For personal use only Gross Resources (100% basis) Oil & Condensate Natural Gas Barrels of Oil Equivalent1 MMbbl BCF MMboe 1C 2C 3C 1C 2C 3C 1C 2C 3C Dorado 86 162 285 367 748 1,358 176 344 614 Roc 12 20 35 205 332 580 48 78 137 Bedout Project Sub-Total 98 182 320 5
Slide 25: Bedout Basin Selected Prospective Resources
Bedout Basin Selected Prospective Resources Prospective Resources (100% basis) For personal use only Prospective Resources (Net to CVN basis) Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project and may r
Slide 26: Generating value through the energy transition
For personal use only Generating value through the energy transition – a contemporary approach that integrates conventional assets and renewables HEAD OFFICE Level 2, 76 Kings Park Road T. +61 8 9321 2665 West Perth WA 6005 E. admin@cvn.com.au
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