Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Good Oil Conference 2011
31 slides from Carnarvon Energy's conference presentation, Sep 7, 2011
Slide 1: Corporate Presentation – ASX Announcement
Corporate Presentation 7 September 2011 For personal use only ASX ANNOUNCEMENT Carnarvon Petroleum Limited (“Carnarvon”) (ASX:CVN) is pleased to provide shareholders with the attached Corporate Presentation given by Mr Philip Huizenga, Carnarvon Chief Operating Officer, at the Good Oil Conference, A
Slide 2: Good Oil Conference 6 & 7 September 2011
For personal use only Good Oil Conference 6 & 7 September 2011 Presented by Mr Philip Huizenga Chief Operating Officer
Slide 3: Disclaimer
Disclaimer The information in this document, that relates to oil exploration results and reserves, is based on information compiled by the Company’s Chief For personal use only Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga consents to the inclusion of
Slide 4: Corporate Overview
For personal use only Corporate Overview 3
Slide 5: Corporate Strategy & Overview
Corporate Strategy & Overview Our strategy is to build a profitable company, from a diversified portfolio of exploration & production assets, For personal use only which creates value for our shareholders over the long term Carnarvon currently has low cost, high margin, oil production in Thailan
Slide 6: Thailand Assets
For personal use only Thailand Assets 5
Slide 7: Thailand Overview
Thailand Overview For personal use only Block L33/43 (40% & Non-Operator) Block L20/50 (50% & Operator ) Exploration, appraisal and production Mid phase exploration Reserves: 3.8 MM bbl 2P (Oil)1 Area: 3,962 km2 Area: 929 km2 (Note 50% to be relinquished 21 Jan 2012) Block L44/43 and SW1A (60% & Ope
Slide 8: Why is Carnarvon in Thailand?
Why is Carnarvon in Thailand? Stable concessionary fiscal regime For personal use only Thailand I Regime: 1971-1981 Thailand II Regime: 1981-1989 (outdated) Thailand Thailand III Regime: Post 1989 Overall contractor take about ‘middle of the road’ Thailand net importer of hydrocarbons – st
Slide 9: Why expand in Thailand?
Why expand in Thailand? For personal use only 2001 – CVN farms in to SW1A producing field Wichian Buri Sandstones Operations Geology Core 2003 – CVN (with SW1A JV) applies for Competency L33 and L44 exploration permits Onshore Thailand Commercial Relationships JV discovers producible hydrocarbons in
Slide 10: L20/50 Concession - Thailand
L20/50 Concession - Thailand For personal use only Thailand L20/50 50% 9
Slide 11: Why L20/50?
Why L20/50? For personal use only 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 Oil Field Nong Bua-1 drilled by Shell with oil shows & potential oil column in
Slide 12: L20/50 Bid
L20/50 Bid Thailand Based on available information, For personal use only Carnarvon successfully bid for block Previous knowledge: Minor oil shows noted in sands in Nong Bua-1 well. Limited geochemical analysis suggested possible source rocks. Seismic interpretation: - Suggested basin is deep en
Slide 13: Seismic acquisition and interpretation
Seismic acquisition and interpretation For personal use only Acquisition Interpretation 2009 2010 20-30 leads identified from 2009 seismic at three stratigraphic levels; Nine locations highlighted for surface scouting; Three locations high-graded, obtained environmental approval and completed
Slide 14: Rotary lie detector put into action in 2011
Rotary lie detector put into action in 2011 Tapao Kaew-1: For personal use only Several thin, potentially reservoir quality sands were intersected Tapao Kaew Krai Thong analysis of wireline logs, Jan-Feb cutting samples, gas readings 2011 Mar 2011 and other data indicate sands are not hydrocarbo
Slide 15: Encouraging results
Encouraging results Trap...? For personal use only No commercial result yet, but.....we Wells drilled in the basin to date have likely have significantly de-risked other not been drilled on viable structures, due to elements required to prove a complex geology and sparse 2D data working petroleum
Slide 16: New Focus: Finding a valid Trap
New Focus: Finding a valid Trap Complex faulting on basin margin: good potential for structural closures For personal use only W Chalawan E Chalawan prospect defined on ‘Unc A’ Horizon W E Migration from depocentre Complex faulting and multiple fault terraces on eastern flank of basin Good poten
Slide 17: Future
Future For personal use only Clearly defined path ahead for progressing exploration in L2050 Post well analysis and reprocessing seismic 2011 3D Data Acquisition 2012 Drilling 2013 16
Slide 18: L52/50 & L53/50 Concessions - Thailand
L52/50 & L53/50 Concessions - Thailand For personal use only Thailand L52/50 & L53/50 50% 17
Slide 19: Why L52/50 and L53/50?
Why L52/50 and L53/50? Onshore – in area of focus for Carnarvon For personal use only Tertiary basin Anticipate low cost exploration On trend with similar sized Chumphon Basin to the north which has proven oil kitchen with numerous wells encountering oil shows and 4.3 MM bbls recovered from
Slide 20: Initial work - encouraging
Initial work - encouraging For personal use only Review of old wells show fair to excellent potential source rocks Khian Sa-1 (1988, TD 2438m) – sidewall core containing interpreted dead oil PK-1 (2004, TD 1032m) – Coal Bed methane tests reported gas discovery Surface geological study undert
Slide 21: Ongoing work
Ongoing work For personal use only Initial structural maps (based on old 2D scanned data) shows multiple leads Currently acquiring new 2D seismic to infill sparse 1988 vintage data – concentrating on areas over known leads Drilling of two wells planned for 2012 Khian Sa-1 20
Slide 22: L33/43, L44/43 & SW1A Concessions
L33/43, L44/43 & SW1A Concessions For personal use only Thailand L33/43, L44/43 & SW1A 40% 21
Slide 23: 2006 – L33/43 and L44/43
2006 – L33/43 and L44/43 2000 For personal use only Carnarvon Petroleum acquired a 40% working interest in SW1A via farm-in of 2 wells 2003 Carnarvon subsequently acquired 40% of two exploration concessions with the operator 2006 Net 2P Reserves of around 3 MM bbls Wichian Buri field on prod
Slide 24: 2010 – L33/43 and L44/43
2010 – L33/43 and L44/43 Fast forward to end 2010 For personal use only Over additional 100 wells drilled Over 10 additional oil fields discovered Significant reserves increase 4.7 mmbbls proved (1P); 20.4 mmbbls proved and probable (2P); and 51.9 mmbbls proved, probable and possible (
Slide 25: Future potential – L33/43 and L44/43
Future potential – L33/43 and L44/43 For personal use only Sandstone Reservoirs Historical data going back to initial production in 1995 Produced to date from sandstone reservoirs is around 400,000 bbls and 2P reserves as at end 2010 was in the order of 4 million bbls Currently undertaking stu
Slide 26: Next 1-2 years in Thailand
Next 1-2 years in Thailand Exploration – 1-2 wells For personal use only Appraisal – 1-2 wells Acquire 3D seismic Exploit resources! Exploration – 1-2 wells Develop reserves! Exploration – 3-6 wells Appraisal – 3-6 wells Development Exploit resources! Develop reserves! Acquire 2D seismic Exploration
Slide 27: Long Term Thailand Commitment
Long Term Thailand Commitment For personal use only Carnarvon established a branch office in 2007 26
Slide 28: Strong Community Involvement
Strong Community Involvement Significant local employer For personal use only Preference for purchase of local goods and services Sponsorship to local schools and other community projects Food donations to recent flooding victims Ongoing support for Thailand forestation project 27
Slide 29: Conclusion
Conclusion For personal use only Thailand priorities: Steadily improve the base production from sandstone reservoirs (L44/43 & L33/43 Concession). Continue drilling high flowing volcanic reservoirs (L44/43 & L33/43 Concession). Acquire 3D seismic to enhance exploration success after positive n
Slide 30: Good Oil Conference 2011 – Key Points
For personal use only Good Oil Conference 2011 Philip Huizenga Any questions come and join us for Key Points a free coffee 29
Slide 31: For personal use only
For personal use only Ground Floor 1322 Hay Street West Perth WA 6005 Telephone: +61 (8) 9321 2665 Fax: +61 (8) 9321 8867 www.carnarvon.com.au