Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Investor Presentation (February 2017)
14 slides from Carnarvon Energy's investor presentation, Feb 24, 2017
Slide 1: Investor Presentation February/March 2017
For personal use only Investor Presentation February/March 2017
Slide 2: Disclaimer
Disclaimer For personal use only The Resource estimates outlined in this report have been 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 petroleum exploration and engineering. Mr Huizenga
Slide 3: Setting the scene: Overview
Setting the scene Overview For personal use only • NEW North West Shelf (“NWS”) hydrocarbon basin uncovered • Play previously thought too deep / tight, now significantly de-risked • Carnarvon provides the only ASX listed exposure to this acreage • Market value of Carnarvon is around $100 million (AS
Slide 4: NWS Australia most exciting exploration acreage
NWS Australia most exciting exploration acreage Phoenix / Roc permits For personal use only • FOUR discoveries from four wells drilled by Carnarvon and partner • Commercial flow rates achieved, comparable with major NWS fields • Entire hydrocarbon province covers a very large ~22,000km2 • Carnarvon
Slide 5: Commercial project taking shape
Commercial project taking shape Phoenix / Roc permits For personal use only • Multi-Tcf gas potential in a small tested area of the acreage • Remaining area has similar high potential • High proportion of condensate in all gas samples recovered • Engineering and commercial work commencing in 2017 •
Slide 6: Stop: how did we get to this point?
Stop: how did we get to this point? Phoenix / Roc permit history For personal use only • 2009 Carnarvon secures interests in 4 permits in Government gazettal • 2011 play opening 3D seismic acquired, the first 3D in the basin • 2012 Apache Energy and JX Nippon farm in paying for two wells • 2014 Phoe
Slide 7: Roc-2 well delivered an historic flow
Roc-2 well delivered an historic flow Phoenix / Roc permits For personal use only • Roc-2 well flowed strongly for 6 days under controlled test conditions • At 51 million scf per day of gas and 2,943 barrels of condensate per day, being a high condensate to gas ratio of 58 bbls/mmscf. • Production e
Slide 8: Dorado is the biggest target yet – updip of Roc
Dorado is the biggest target yet – updip of Roc Phoenix / Roc permits For personal use only A B Dorado structure Roc-1 Roc-2 Pmean 2C resource 545bcf + 23mmbbls 330 bcf + 20mmbbls + Milne upside 2016 discovery Late 2017 drill Possible gas escape plumes due to high gas/condensate columns Roc-2 flow t
Slide 9: Phoenix South-2 potentially uncovered a play fairway
Phoenix South-2 potentially uncovered a play fairway Phoenix / Roc permits For personal use only • High gas influx and pressures experienced while drilling PS-2 Caley Sst • Pressure positive for porosity (higher volume) and permeability (higher flow rates) • High probability of sand prone reservoirs
Slide 10: Location strategically important
Location strategically important Phoenix / Roc commercialisation For personal use only • Phoenix and Roc discoveries lie ~160 kilometres offshore of Port Hedland • WA’s main gas pipeline passes Port Hedland – domestic supply shortage from 2020 • Fortescue River Gas Pipeline links main gas pipeline t
Slide 11: Keep the conveyer belt full
Keep the conveyer belt full CVN’s business model – create shareholder value through farmout exploration For personal use only Acquired acreage in the oil low 2014-2017 • Buffalo – running latest FWI 3D reprocessing • Maracas – running latest FWI 3D reprocessing • WA-521 – large leads identified on 2
Slide 12: Investor opportunities
Investor opportunities Where we see value For personal use only • Volume update(s) following Phoenix South well result and ongoing prospect work • Dorado well targeting large volumes in late 2017 • Field development planning for Phoenix / Roc including project economics • Commercial transactions suc
Slide 13: Questions
For personal use only 13 Questions
Slide 14: Think Different, Act Different
For personal use only Think Different Act Different 14
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