Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Shareholder Meeting (November 2009)
20 slides from Carnarvon Energy's shareholder meeting presentation, Nov 27, 2009
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 27th November 2009
Slide 2: Welcome
Welcome For personal use only Welcome to Carnarvon’s 2009 AGM Thank you to shareholders + for your o r support s pport d during ring 2009 Thank you also to staff for everyone’s efforts in 2009 = + +
Slide 3: Our Goal
Our Goal For personal use only Discovered oil in volcanic l i reservoiri GFC New management in place 10 ffold ld increase in share price over 4 years … consolidate past success ... …find more high quality assets ... ... drive the share price for shareholders ...
Slide 4: People
People For personal use only To drive the share price To deliver quality projects Carnarvon has the people to enable this
Slide 5: People – the Board
People – the Board For personal use only Your Board comprises four directors with a well balanced mix of skills and experience Peter Ted Neil Ken Leonhardt Jacobson Fearis Judge Chairman Chief Director Director Non Executive Executive Non Executive Non Executive Business, Technical and Commercial Le
Slide 6: People - Management
People - Management For personal use only Carnarvon recently Board of Directors strengthened its management team Phil to manage Ted Jacobson Carnarvon’s Chief Executive operational activities Adrian to enhance our corporate and Philip Huizenga General Adrian Cook General financial activities M
Slide 7: People – the Team
People – the Team For personal use only Carnarvon also has a small but very experienced team of technical and support staff t ff who h have h made d a significant i ifi t contribution t ib ti Dr Robert Bird Tara Reilly Niwattana Robert Anderson Exploration Exploration Kongchatthai Finance Manager Th
Slide 8: Corporate – Capital Structure
Corporate – Capital Structure For personal use only Ordinary Shares 685 million Market Capitalisation: $ $377 million (fully diluted @ 55 cents) Cash on hand $29 million * $ (@ 30 September 2009) Debt Nil Top 20 ~ 37% Directors and Management ~ 11% • All future exploration commitments funded from ex
Slide 9: Corporate - Share Price/Reserves
Corporate - Share Price/Reserves For personal use only 60 Carnarvon’s current 50 Resource resource position is Millions barrels 40 2P Reserves increasing materially 30 Short term share price will ill b be d driven i b by 20 10 9 reserves audit (early 2010) 0 2007 2008 2009 9 production growth (n
Slide 10: Projects – Regional View
Projects – Regional View For personal use only Thailand Australia Phoenix L33/43 Gas Project Oil Exploration L20/50 Oil Exploration L44/43 Oil Production Indonesia Application Blocks Rangkas Oil Exploration . Jakarta
Slide 11: Projects - Objectives
Projects - Objectives For personal use only Development Production Exploration & Appraisal Convert a significant portion of Carnarvon’s 3P Reserves (36 mmbbls) & Contingent Resources (35 mmbbls) into 2P Reserves (presently 16.6 mmbbls) Acquire seismic and drill exploration wells in L52 & L53 and L20
Slide 12: Reserve Growth – Near Term
Reserve Growth – Near Term For personal use only Net Contingent Resource 35 million barrels oil Production licence applied for over Bo Rang and L44W discoveries 2009 FY 2P 3P Annual Production 16.6 36.9 1.2 mmbbls mmbbls mmbbls Does not include significant exploration upside
Slide 13: Projects - Reserves in L44/43
Projects - Reserves in L44/43 For personal use only Other As at 31 December 2008 80 Bo Rang New reserves audit for 70 Si Thep 31 December 2009 60 Wichian Buri anticipated completion Na Sanun March 2010 ns barrels s 50 40 Million 30 20 10 0 1P 2P 3P Contingent 2C + 3P
Slide 14: Next months drilling – L44/43
Next 12 months drilling – L44/43 For personal use only ~25 Wells comprising Appraisal/development – Na Sanun East field – Si Thep sandstone – new discovery – Bo Rang A volcanic – new discovery – Bo Rang B volcanic – new discovery – L44W volcanic – new discovery – Wichian Buri sandstone field Fract
Slide 15: Other Activities – next months
Other Activities – next 12 months For personal use only L33/43 - Thailand Drill up to 3 wells L20/50 - Thailand Drill 1 to 4 wells ells – Carnarvon Carnar on operator Rangkas Block – Indonesia Acquire A i new 2D seismic i i Phoenix Blocks - Australia Acquire A i new 3D seismic i i
Slide 16: News Flash – L44/43
News Flash – L44/43 For personal use only News just in on current operations in L44/43 ...... Si Th Thep-22E Exploration l ti Well W ll Currently flow testing a new 9 metre thick sandstone reservoir at 870 metres depth. Bo Rang-3D1 Development Well First horizontal development well into Bo Rang “B”
Slide 17: L20/50 New Seismic
L20/50 New Seismic For personal use only Carnarvon’s first operatorship in Thailand - successful Carnarvon brought Chinese company BGP to Thailand Numerous leads Survey under budget Ahead of schedule Good quality seismic 1 Sec . TWT Many prospects Bright seismic amplitudes- Deep oil Volc
Slide 18: Conclusion
Conclusion For personal use only Strong Reserves base 9 2P Reserves of 16 mmbbls Thailand - Oil production, 9 3P R Reserves off 36 mmbbls bbl appraisal i l andd exploration l ti 9 Contingent Resources of 35 mmbbls Indonesia - Exploration Long g term low cost production p generating strong cash f
Slide 19: Shareholder Questions
Shareholder Questions For personal use only Why explore outside Thailand? 9 Seeking good non operator projects in SE Asia/Australia region Thailand - Oil production, appraisal i l andd exploration l ti Why not contract more rigs? 9 Learning from each well drilled Indonesia - Exploration 9 Takes
Slide 20: For personal use only
For personal use only
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