Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Shareholder Meeting (November 2008)
28 slides from Carnarvon Energy's shareholder meeting presentation, Nov 27, 2008
Slide 1: Annual General Meeting
CARNARVON PETROLEUM LIMITED For personal use only 27 NOVEMBER 2008 ANNUAL GENERAL MEETING
Slide 2: AGM Presentation
AGM Presentation For personal use only November 2008 Ted Jacobson CEO
Slide 3: Investment Highlights
Investment Highlights For personal use only Rapidly growing low cost Thailand oil production Currently ~ 5,000 bopd net sales On track for 6,000 bopd net sales before end 2008 as promised Rapidly growing Thailand oil reserves Audited at 31 Dec 2007 11.4mmbo 2P net recoverable reserves
Slide 4: Corporate Snapshot
Corporate Snapshot For personal use only Capital Structure Directors & Management Ordinary Shares 673 million Chairman: Peter Leonhardt Options (ex @ 10c) 10 million Managing Director: Ted Jacobson Market Capitalisation: $198 million Non Exec Directors: Neil Fearis & Ken Judge (fully diluted @ 29 ce
Slide 5: Corporate Management
Corporate Management For personal use only Peter Leonhard – Non Exec. Chairman •Chartered Accountant •Previously Chairman of Voyager Energy •Extensive business, financial & corporate experience •Provides sound commercial advice and guidance Ted Jacobson – Exec Director & Chief Executive Officer • Ge
Slide 6: Technical Management
Technical Management For personal use only Philip Huizenga – Chief Operating Officer • 18 years international oil and gas experience • Management roles in South America and South East Asia • Petroleum and Drilling Engineering experience • Development and Production expertise Dr Robert Bird – New Ven
Slide 7: Technical Management
Technical Management For personal use only Tara Reilly – Senior Geologist • International experience in seismic acquisition and interpretation • Regional geologist – basin modeling specialist • New Venture scoping experience – successful oil finder Graham Chapman– IT Manager • New hire • Past milita
Slide 8: Technical Assistance
Technical Assistance For personal use only Jackie Sutherland – Database Manager and Technical Assistant • 14 years oil and gas experience in permit administration and software / hardware maintenance • Maintains technical database incorporating several continents and numerous basins Suthas Uamchan –
Slide 9: Business Plan
Business Plan For personal use only Carnarvon in strong financial position • Nil debt • Minimal exploration expenditure • Steady income stream from Thailand • Money building in bank • Considerable upside from current permits • Few companies in our position Simple Plan • Accumulate war chest • Build
Slide 10: Thailand Permits and Infrastructure
Thailand Permits and Infrastructure For personal use only CVN 50% CVN 40% Bangkok 1 0
Slide 11: Thailand Involvement
Thailand Involvement For personal use only • Carnarvon established Thailand Branch Office in 2007 – Branch manager Khun Niwattana Kongchatthai • Carnarvon sponsored Chang Mai university and DMF (Govt) personnel on a two day geological field trip around Phitsanulok and Phetchabun basins 11
Slide 12: Thailand Involvement cont.
Thailand Involvement cont. For personal use only • Briefed local provinces on planned exploration • Active member of the local Wichian Buri community, • a significant local employer, with nearly 100 local employees and • Financial contributions to local schools, temples and the • a significant purch
Slide 13: Thailand Involvement cont.
Thailand Involvement cont. For personal use only • This year Carnarvon hosted delegation of 30 Thai Govt. officials to visit Perth • Introduced them to Aus. officials and other explorers • Good Govt. relations are vital to continued success 13
Slide 14: 2008 Progress
2008 Progress For personal use only 17 wells drilled, completed & successfully tested for 2008 to date Development wells 100% success Appraisal wells Wichian Buri 67% success Oil Field L33/43 Exploration wells L44/43 33% success L44-CST1 Bo Rang Gas Field Development drilling of NSE underw
Slide 15: Strong Reserve Position
Strong Reserve Position For personal use only Rapidly growing Thailand oil reserves 11.4mmbbls 2P net recoverable reserves under development Around 1 mm bbls anticipated to be produced and sold in 2008 45.7mmbbls 3P net recoverable reserves - large upside Doesn’t include recent new shallow o
Slide 16: Strong Production
Strong Production For personal use only Rapidly growing oil production Well placed to achieve year end targeted production of 6,000 bopd net sales before year end with significant growth pipeline 16
Slide 17: Overtaking Peer Companies
Overtaking Peer Companies For personal use only One of the best oil producers on the ASX with growing production profile 17
Slide 18: Na Sanun East - Appraisal Upside
Na Sanun East - Appraisal Upside For personal use only Na Sanun East Other Reservoirs Seeking to Contingent Current Na Sanun East production is primarily from only 2 of 5 delineate new resource requires potential volcanic reservoirs – significant reserve and production productive oil zones further
Slide 19: L33/43 & L44/43 - Appraisal Upside
L33/43 & L44/43 - Appraisal Upside For personal use only Bo Rang – Targeting drilling early 2009 Bo Rang-1 intersected 6 fractured volcanic zones – only upper zone tested Flowed gas @ 5.6 mmcf/d from upper volcanic interval Wichian Buri Oil Field Potential oil resource from only one deeper vol
Slide 20: L33/43 & L44/43 - Exploration Upside
L33/43 & L44/43 - Exploration Upside For personal use only Wichian Buri Deep L33 prospects L44-C sidetrack planned early 2009 Wichian Buri Oil Field L33/43 L44/43 L44-C Updip L44-C sidetrack of Bo Rang Intersected L44-C Gas Field volcanic here L44-F Na Sanun prospect Oil Field 7 km Na Sanun East O
Slide 21: L20/50
L20/50 For personal use only Carnarvon 50% interest and operator, Sun Resources (ASX: SUR) 50% Southeast and on trend of large, 200 million barrel Sirikit Oil Field (produced over 150 mmbbls and still producing ~20,000bopd) ~1,000km 80’s vintage 2D seismic interpreted Sirikit Nong Bua-1 Nong
Slide 22: L52 & L53 Applications
L52 & L53 Applications For personal use only Carnarvon 50% - Pearl Oil operator Carnarvon/Pearl Joint Venture only bidder 2 large onshore permits – 6,950 sq kms Onshore extension of offshore Gulf of Thailand 6 wells drilled (4 shallow for CBM and 2 deep for oil) Oil shows in Khian Sa-1 N
Slide 23: Australia
Australia For personal use only WA-399-P Offshore Carnarvon Basin Carnarvon 50% and operator Seismic reprocessing just completed EP110 & EP 424 Offshore Carnarvon Basin Carnarvon 35% Finalising seismic reprocessing EP 321, EP 407 Perth Basin ORRI 2.5% net wellhead value at Warro Gas
Slide 24: Significant Reserves Upside
Significant Reserves Upside For personal use only Over next 12 -24 months Carnarvon is appraising 31 mmbbls 2C net oil resource NET CARNARVON RESOURCES Appraisal 34mmbbls Exploratio n Appraisal 3mmbbls 2P Appraisal Reserves 7mmbbls 11.4mmbbls Appraisal s 7mmbbls Appraisal 14mmbbl ss 24
Slide 25: Significant Production Upside
Significant Production Upside For personal use only Discovery Recoverable Na Sanun East 8.3 n + WB, ST, NS 3.1 Possible o ti re s r a Possible 34.3 p lo entu Ex w V Contingent 14.0 Bo Rang 7.0 Si Thep 7.0 Ne L44-R 3.0 a l Contingent ra is p SW1A Bo Rang L44-R Ap Si Thep Na Sanun East 25
Slide 26: Summary
Summary For personal use only Poised to deliver stated year end objective of 6,000 bopd net to Carnarvon before year end 2008 2 rigs under long-term contract with 4 wells planned for remainder 2008 with 2 currently drilling Mix of development, appraisal and exploration wells across a portfolio
Slide 27: Industry Award
Industry Award For personal use only Carnarvon was awarded the 2008 Explorer of the Year at Good Oil Conference in Perth 27
Slide 28: Disclaimer
Disclaimer For personal use only The information is this document, that relates to oil exploration results and reserves, is based on information compiled by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga consents to the inclusion of
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