Mec Resources Ltd · ASX:MMR
Mec Resources — Shareholder Meeting (November 2017)
26 slides from Mec Resources's shareholder meeting presentation, Nov 24, 2017
Slide 1: ASX cover letter: AGM Technical Presentation
For personal use only 24 November, 2017 Australian Securities Exchange 10th Floor, 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam MEC RESOURCES ANNUAL GENERAL MEETING – TECHNICAL PRESENTATION MEC resources Ltd (ACN 113 900 202) (Company) (ASX: MMR) is pleased to provide a copy of the Technical Pres
Slide 2: Advent Energy Technical Briefing
For personal use only Advent Energy Technical Briefing MEC AGM, Sydney, 23 November 2017 1
Slide 3: Public Disclaimer
Public Disclaimer For personal use only This company presentation (the “Company Presentation”) of Advent Energy Limited (the “Company”) has been prepared by the Company solely for information purposes and for the sole use of the person to whom it is delivered. The Presentation is prepared for discus
Slide 4: Advent Board & Management Team
Advent Board & Management Team For personal use only Board Management and Technical Advisors Mr. Goh Hock: Chairman, NED Mr. Tobias Foster: Manager, Corporate 25 years with Schlumberger, held several field & management Development positions in the oil & gas industry across ten countries Over 15
Slide 5: Advent: Operated Gas Project Areas
Advent: Operated Gas Project Areas For personal use only Onshore Southern Bonaparte Basin – A proven gas and oil province 2,734 km2 PEP11 (85% Advent) EP386 + RL1 (100% Advent) Offshore Sydney Basin Potential development of Gas Field Conventional Gas Exploration (Weaber) Large un-risked Prospective
Slide 6: Strategic Value Proposition: PEP-11
For personal use only Strategic Value Proposition: PEP-11 Test for cheap, accessible, conventional gas to fill looming east coast (Sydney) supply deficit and potentially offset LNG export quotas. A total exploration investment of A$12-20 million could test up to 2,212 BCF (net to Advent)* un-ris
Slide 7: Strategic Summary: Tactics To Success
For personal use only Strategic Summary: Tactics To Success Complete current 2D seismic commitment to deliver shallow hazard survey work to de-risk the Fish-Baleen drilling location. – Deliver “drill-ready” gas prospect to ‘market’ as soon as planning process, funding and execution allow. – Active
Slide 8: PEP11 - Advent @ 85%WI (Bounty @ 15%WI)
PEP11 - Advent @ 85%WI (Bounty @ 15%WI) For personal use only The Sydney Basin is a proven petroleum basin with large exploration potential, including prospective recoverable resources of 2,212 BCF (P50)* in the two largest structural targets (net to Advent) An active hydrocarbon system has been
Slide 9: PEP11 – Seismic Coverage
PEP11 – Seismic Coverage For personal use only New Seaclem-1 (2010) 2018 (planned) Baleen HR Seismic Survey PEP11 2004 Baleen 2D Seismic Survey
Slide 10: For personal use only
For personal use only B17-46 B17-37 B17-38 B17-39 B17-36 B17-40 B17-30 B17-41 B17-42 B17-23 B17-43 B17-15 B17-44 B17-45 B17-07 B17-01
Slide 11: 2D Seismic Survey: Key Parameters
2D Seismic Survey: Key Parameters • Single Streamer to 900m • Single airgun of 90in3 capacity • 6.25m firing interval (~4 seconds) For personal use only • ~200 line km acquisition • 3.5km x 3.5km area plus one tie line to New Seaclem-1 • 3.5 - 4 kn travel speed • ~2-4 days duration Survey Vessel: Pa
Slide 12: PEP11 2D EP - NOPSEMA
For personal use only PEP11 2D EP - NOPSEMA Submitted original EP on 4 July 2017 Assessment provided by NOPSEMA – offer to modify and resubmit. – Better articulation of survey scale, duration, extent needed – Improve description of stakeholder consultation – Clarification around acoustic modelli
Slide 13: Drill Target for East Coast Domestic Gas Market
For personal use only Drill Target for East Coast Domestic Gas Market The PEP11 Gas Project is a potential new source of gas for eastern Australia from the offshore Sydney Basin, adjacent to Newcastle, New South Wales. Gas from PEP11 could be brought onshore approximately 25-30km to the main Syd
Slide 14: PEP11 - Gas Market Projections
PEP11 - Gas Market Projections For personal use only “NSW electricity and gas price projections to 2020, demonstrating sustained periods (2019-2024, and from 2029) of considerable shortfall in gas supply (source: AEMO media statement 9 March 2017)” 13
Slide 15: PEP-11 Gas Development Scenario
PEP-11 Gas Development Scenario For personal use only Internal economic evaluation of a hypothetical development from a prospective resource of 2,212BCF* indicate reasonable rates of return are possible (un-risked). This possibility is based on a conventional offshore gas field development with a fi
Slide 16: PEP11: Key Next Steps: Activities and Estimated Cost
For personal use only PEP11: Key Next Steps: Activities and Estimated Cost Explore for cheap, accessible, conventional offshore gas to fill looming east coast (Sydney) supply deficit: – A$0.6 million for current 2D seismic work commitment EP submitted and currently under revision Acquisition a
Slide 17: Advent Energy: EP386 & RL1 Asset Summary
For personal use only 1. Advent Energy: EP386 & RL1 Asset Summary
Slide 18: Onshore Gas: Timeline to Commercialisation
For personal use only Onshore Gas: Timeline to Commercialisation EP386/RL1 onshore Bonaparte Basin (Advent 100%WI) Weaber Gas Field contains an assessed Contingent Resource (3C) in RL1, NT. Deploy innovative stimulation techniques to deliver sustainable gas flow rates: – Potential oil/liquids re
Slide 19: EP386/RL1 (Advent 100%WI)
EP386/RL1 (Advent 100%WI) For personal use only Discovery Well Max Flow Rates Well Classificatio Observed n (unstimulated) Bonaparte-2 Gas 1.5 MMscf/d Discovery Keep River-1 Gas 3.0 MMscf/d Discovery Weaber-1 (re- Gas 4.5 MMscf/d entry) Discovery Garimala-1 Gas 0.75 MMscf/d Discovery Waggon Suspende
Slide 20: EP-386 and RL-1 regional locations
EP-386 and RL-1 regional locations For personal use only 19
Slide 21: Potential Gas Resources
Potential Gas Resources For personal use only (Advent Energy 100% net interest) RL1 – Booked Resource EP386 – Exploration Upside Weaber Field 1C 2C 3C • 6 Gas Discoveries to date with 356Bcf of Contingent Resources (Bcf) 0.25 11.5 45.8 unrisked P50 gas prospective resources in mapped prospects • Wag
Slide 22: EP386: Potential Gas Prospectivity
EP386: Potential Gas Prospectivity For personal use only 21
Slide 23: EP-386: Key Next Steps
For personal use only EP-386: Key Next Steps Continue to engage with the WA DMIRS to preserve title Complete well integrity testing and P&A suspended wells Make application for title arrangements to cover future program – Subject to regulatory approvals and securing a funding partner: Well I
Slide 24: RL-1: Weaber Gas Field: Top Reservoir Map
For personal use only RL-1: Weaber Gas Field: Top Reservoir Map RL1 Area = 166 sq.km Average Reservoir Parameters: Porosity = 12% Net Pay = 13m Gas Saturation = 75% Permeability = 16mD (Weaber-4 production test) 23
Slide 25: RL-1: Key Next Steps
For personal use only RL-1: Key Next Steps Continue to engage with the NT DPIR to maintain title Complete well integrity testing and P&A suspended wells Make application for transfer of title to Production Licence to cover future program – Subject to regulatory approvals and securing a funding
Slide 26: Contact: Tobias Foster, Advent Energy
For personal use only Tobias (Toby) Foster, Advent Energy Limited Ph: +61 (0)8 9200 6190 toby@adventenergy.com.au Corporate L3 Suite 2, 1111 Hay Street Mob: +61 (0)431 040 120 http://www.adventenergy.com.au Development West Perth WA 6005 Manager Australia