Aminex Plc · LSE:AEX
Aminex — Investor Presentation (March 2011)
21 slides from Aminex's investor presentation, Mar 16, 2011
Slide 1: Company Presentation
Company Presentation 16 March 2011 AMINEX PLC
Slide 2: Important Notices
IMPORTANT NOTICES This document, which is personal to the recipient and has been issued by Aminex PLC (the “Company”), comprises written materials/slides for a presentation concerning the proposed placing and open offer of new ordinary shares of the Company (the “Fundraising”). It and its contents a
Slide 3: Important Notices
IMPORTANT NOTICES Subject to limited exceptions, neither this document nor any part or copy of it may be taken or transmitted into or distributed in or into, directly or indirectly, the United States of America (including its territories and possessions, any State of the United States and the Distri
Slide 4: The Company
THE COMPANY • Aminex is the only London Full List independent oil company with its major focus on East Africa • Significant exploration wells planned in Tanzania in 2011, together with the commercialisation of a recent gas discovery • Existing US production base and a successful US exploration in 20
Slide 5: Activity on the East African Coastal Margin
ACTIVITY ON THE EAST AFRICAN COASTAL MARGIN The East African Coastal Margin of Tanzania has come of age. • Tullow Oil and Aminex have drilled Likonde-1 in the Tanzanian Ruvuma Basin, encountering 250 metres of reservoir quality sands and establishing the presence of crude oil onshore in the basin. •
Slide 6: Aminex in Tanzania
AMINEX IN TANZANIA • Aminex has been working the East African margin since 2002 and is a well-established operator in Tanzania. Current licence interests are: ‐ Nyuni 65% operator Aminex ‐ W Songo-Songo 50% operator Key Petroleum ‐ Ruvuma 37.5% operator Tullow Oil Aminex commercial gas discoveries a
Slide 7: Aminex in Tanzania
AMINEX IN TANZANIA • Aminex has already drilled 4 exploration wells in Tanzania, of which ‐ 2 were gas discoveries (operated by Aminex) in the Nyuni PSA . ‐ 1 (operated by Tullow Oil) provided strong indications of oil and gas in the Ruvuma basin. • In 2011 Aminex plans to drill 2 high-impact explor
Slide 8: Tanzania: Nyuni
TANZANIA Nyuni Two discoveries and a potential future gas-gathering hub • Nyuni is an offshore/near shore licence. • Islands in the concession mean that most prospects can be drilled with a land rig. • Commercial development is generally far more economical than in deep water. • Nyuni-2 will be spud
Slide 9: Tanzania - Nyuni: The Kiliwani North Gas Discovery
TANZANIA - NYUNI The Kiliwani North Gas Discovery • Kiliwani North-1 was drilled to 2,030 metres from Songo-Songo Island in 2008. S • Encountered a 60 metre gas column in Neocomian age sands; flow rate of 40 million KN-1 cubic feet/day on test (equivalent to 6,700 barrels oil per day). • Follow-up w
Slide 10: Main Prospects in Nyuni PSA
MAIN PROSPECTS IN NYUNI PSA (figures are BCF gas in-place at P.mean level) Based on an independent assessment by ISIS Petroleum Consultants Aminex has a 50% interest in the resources shown and is the Operator of the PSA. Aminex has calculated that a 73-83% recovery factor is applicable to gas in pla
Slide 11: Summary of Contingent & Prospective Resources
TANZANIA - NYUNI Summary of Contingent & Prospective Resources IMPORTANT NOTES Pmean refers to the average probability of the existence of the volumes reported The volumes shown below were independently assessed by ISIS Petroleum Consultants in 2010 P10 refers to a 10% probability of the exist
Slide 12: Tanzania - Nyuni: Planned Drilling in 2011
TANZANIA - NYUNI Planned drilling in 2011 • The first well in Aminex’s 2011 Tanzanian programme is designated Nyuni-2 and will test Neocomian age prospects underlying Nyuni Island. • The prospects around Nyuni Island are independently estimated to contain 1.3 TCF gas in place (217 MMBOE) in Neocomia
Slide 13: Tanzania: West Songo-Songo
TANZANIA West Songo-Songo • The West Songo-Songo PSA adjoins the Nyuni PSA and the Songo-Songo gas field. • Aminex holds 50% in this early stage licence. • Aminex considers that considerable potential exists and the operator has stated that it believes the gas in place potential to exceed 1 TCF (167
Slide 14: Tanzania: The Ruvuma PSA
TANZANIA The Ruvuma PSA • The Ruvuma PSA covers 12,000 km² in the south- east of Tanzania, 80% onshore/20% offshore. • Awarded 100% to Aminex in October 2005 and Aminex subsequently acquired new marine and onshore seismic data. • Aminex has farmed down its interest in Ruvuma to 37.5%. Tullow operate
Slide 15: Ruvuma - Likonde-1 well
TANZANIA Ruvuma - Likonde-1 well A close run thing • Likonde-1 was drilled to a total depth of 3,647 metres with high gas readings (up to C5 which is virtually a liquid) throughout the length of the well bore from a depth of 200 metres. • Net sand bodies with the potential to be oil and gas reservoi
Slide 16: Louisiana & Texas
LOUISIANA & TEXAS Exploration, development, production • Revenues from an active and successful exploration and development drilling programme on the Company’s Gulf coast properties in the US support the Group’s operations elsewhere in the world. • 2 successful wells on the Shoats Creek Field in Lou
Slide 17: Louisiana: Shoats Creek Field
LOUISIANA Shoats Creek Field • Shoats Creek covers approximately 1,500 acres and is owned and operated by Aminex USA, Inc. • New 3D seismic has opened up the way for a fresh exploration programme in this old producing field. Frio • OM-1 was drilled by Aminex in early 2010 to test the Cockfield sands
Slide 18: U.S. 1P & 2P Reserves
U.S. 1P & 2P RESERVES AT 1st JANUARY 2011 1P Case Net Oil Net Gas Net BOE PV 0 value PV 10 value Mmbbl Bcf Mmboe $mm $mm Shoats Creek 557.0 6,855.0 1,699.5 49,711 29,595 Alta Loma 123.9 3,534.9 713.1 22,701 18,274 South Weslaco 2.1 778.4 131.8 2,579 1,559 TOTALS 683.0 11,168.3 2,544.4 74,991 49,428
Slide 19: Other Activities
OTHER ACTIVITIES KOREAN PENINSULA Aminex owns 50% of the share capital of Korex Ltd., which holds an offshore PSA covering over 50,000 km² in the East Sea of North Korea. Although Aminex regards this as a highly prospective area for discovery of oil and gas, political tensions in the region which ha
Slide 20: Projected Capital Expenditures
PROJECTED CAPITAL EXPENDITURES Aminex has recently raised approximately $40 million in new equity to facilitate a significant exploration and development programme. Drill Nyuni-2 $mm Drill Ruvuma-2 2.6 9 Drill US Wilcox 2 and 3 and 10 recomplete Sunny Ernst-2 Commercialise Kiliwani North 6.4 Further
Slide 21: Thank you for your interest
Thank you for your interest Aminex PLC 7 Gower Street London WC1E 6HA Tel: 020 7291 3100 Fax: 020 7636 9667 info@aminex-plc.com www.aminex-plc.com 21