Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Shareholder Meeting (November 2016)
30 slides from Pancontinental Energy Nl's shareholder meeting presentation, Nov 30, 2016
Slide 1: Annual General Meeting Presentation
Annual General Meeting Presentation For personal use only 30 November 2016 1
Slide 2: Disclaimer
For personal use only Disclaimer These materials are strictly confidential and are being supplied to you solely for your information and should not be reproduced in any form, redistributed or passed on, directly or indirectly, to any other person or published, in whole or part, by any medium or for
Slide 3: Pancontinental Management Team
For personal use only Pancontinental Management Team David Barry Ernie John Vesna Kennedy Rushworth Myers Leach Petrovic MA (Geology) BSc (Geology & CPA BArts (Econ) BComm SEG Marine Sc) CA MBA CPA Executive Non-Executive Executive Finance Non-Executive Company Chairman Director, CEO Director Direct
Slide 4: Corporate & Project Snapshot
Corporate & Project Snapshot For personal use only Corporate Kenya Offshore Oil & gas explorer Proven oil and gas systems ASX Code: PCL Block L6 Issued Shares: 1,717m 40% Pancontinental Share Price: A $0.004 60% FAR Limited Operator & Partner Market Cap: A $6.9m Namibia Offshore Kenya
Slide 5: Pancontinental's Strategy
For personal use only Pancontinental’s Strategy Changed Business Environment • New oil price regime • Oil price uncertainty (up / down / stable?) • Changed global Geopolitical & Economic landscape • Risk- averse business environment • Reduction in Investor appetite for Energy Pancontinental's Strate
Slide 6: Pancontinental in Africa
For personal use only Pancontinental in Africa Junior exploration company with interests in Namibia and Kenya African focus for the past 10 years Participated in two historic Kenyan discoveries: 2012 Mbawa-1, Kenya L8 The first ever gas discovery offshore Kenya; and the first ever hydrocarbo
Slide 7: Offshore Namibia
For personal use only Offshore Namibia 7
Slide 8: Offshore Namibia – Finding the Oil Sweet Spot
OffshoreNamibia Offshore For personal use only Namibia– Finding the Oil “Sweet Spot” Pancontinental in Namibia Present in-country for over a decade, and in current permit since 2011 Developed theories regarding oil generation in the area Participant in exploration programmes over offshore lice
Slide 9: Namibia – Politically Stable & Low Security Risk
Namibia Namibia Offshore – Politically Stablethe – Finding & Low Security Oil “Sweet Risk Spot” • Namibia has encouraged foreign investment through more than 25 years of political stability For personal use only • It is considered a low travel security risk country • The official language is English
Slide 10: Theory on Oil Generation
Offshore Namibia Offshore For personal use only Namibia––Finding Theory the on Oil Oil Generation “Sweet Spot” The Walvis Basin, where Pancontinental’s PEL 0037 is located, exhibits similar characteristics to Brazil’s Santos Basin where multiple hydrocarbon discoveries have been made. | 10
Slide 11: Predicting the Oil Environment
Offshore Namibia Offshore For personal use only Namibia––Finding Predicting the the Oil Environment Oil “Sweet Spot” A critical factor for oil exploration The Company believes that PEL 37 is one offshore Namibia is oil maturity, where of the few areas covering an oil source rocks are sufficientl
Slide 12: Offshore Namibia – Petroleum Exploration Licence 37
Offshore Namibia Offshore For personal use only Namibia– Finding the Oil “Sweet Spot” • Pancontinental originated Petroleum Exploration Licence 37 offshore Namibia in 2011. • Petroleum Exploration Licence 37 was granted over three blocks; 2012B, 2112A and 2113B, covering approximately 17,295 km . 2
Slide 13: Theory on Oil Generation
Offshore Namibia Offshore For personal use only Namibia––Finding Theory the on Oil Oil Generation “Sweet Spot” Basin Floor Axis (Transition Zone) EL 0037 Slope / Shelf Boundary OIL MATURE FAIRWAY ‐ Top Transition Zone Kenya Oil generated and trapped in “Inner Graben” Wingat 1 Light Oil Recovery Muro
Slide 14: PEL Timeline
Offshore Namibia Offshore For personal use only Namibia––Finding PEL 37 the Timeline Oil “Sweet Spot” 2013 2014 2015 2016 Tullow Tullow 3D and 2D Prospects elects to farms-in seismic mapped enter for 65%, acquisition from drilling for seismic under seismic, phase of and drilling farmout to for farmi
Slide 15: Namibia PEL Prospects
Namibia PEL 37 Prospects For personal use only • 3D seismic area above (dotted outline), shown in detail to the right | 15
Slide 16: Namibia PEL Prospects & Work Programme
Namibia PEL 37 Prospects & Work Programme Tullow Oil farmed into PEL 37 in 2013, For personal use only with activities commencing in 2014. The US$100 + million farmin PEL 30 programme is 100% free carried for Pancontinental (retaining 30%). PEL 37 The exploration work so far includes: • 3,400 km2 of
Slide 17: Namibia PEL Prospects & Work Programme
Namibia PEL 37 Prospects & Work Programme For personal use only CLOSE PROXIMITY OF APTIAN SOURCE ROCKS TO PROSPECTS & LEADS • A range of Prospects have been mapped at different levels in a Cretaceous prospective package • The Prospective Interval containing the Albatross, Cormorant and other Prospec
Slide 18: Albatross Prospect
Albatross Prospect For personal use only Albatross Prospective Prospect Cenomanian Interval‐ Zone holding Oil Source About 300m thick Rocks | 18
Slide 19: Namibia PEL Prospective Resources
Namibia PEL 37 Prospective Resources 915 million barrels of oil potential For personal use only Cautionary Statement - The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates h
Slide 20: Namibia PEL 0037 Prospective Resources Disclaimers & Notes
Namibia PEL 0037 Prospective Resources For personal use only DISCLAIMERS & NOTES- NAMIBIA Prospective Resource Estimates Cautionary Statement The estimated quantities of petroleum in this report that may potentially be recovered by the application of a future development project(s) relate to undisco
Slide 21: Namibia PEL Farmin by Africa Energy Corp.
Namibia PEL 37 Farmin by Africa Energy Corp. For personal use only 29th November 2016- Pancontinental agrees to assign a 10% interest in Namibian project PEL 37 to Africa Energy Corporation (“AEC”) Pancontinental retains a 20% free-carried interest in Namibia PEL 37 In exchange for the 10% AEC
Slide 22: About Africa Energy Corporation
Namibia PEL 37 Farmin by Africa Energy Corp. For personal use only About Africa Energy Corporation Africa Energy Corporation (AEC) is a member of the Lundin Group of companies. The Lundin Group is one of the most successful shareholder groups in the resources sector worldwide. The Lundin Group has a
Slide 23: Namibia PEL Farmin by Africa Energy Corp.
Namibia PEL 37 Farmin by Africa Energy Corp. Pancontinental’s previous interest of 30% has already been fully free-carried through approximately US$34 million of 3D and 2D seismic under farmout to Tullow (Tullow For personal use only Farmout). In April 2016 Tullow elected not to withdraw from th
Slide 24: Namibia PEL Summary
Namibia PEL 37 Summary Namibia PEL 0037 For personal use only LOCATION: Walvis Basin, Offshore Namibia PROJECT SIZE: 17,295 square kilometres JOINT VENTURE PARTNERS: Tullow Kudu Limited (Operator) 65.00% Pancontinental Oil & Gas Group 30.00% Paragon Oil & Gas (Pty) Ltd 5.00% GEOLOGY: An “Oil Mature
Slide 25: Offshore Kenya
For personal use only Offshore Kenya 25
Slide 26: Pancontinental in Kenya
Offshore Kenya For personal use only Pancontinental in Kenya Present in-country for 15+ years Kenya Participant in numerous exploration programmes across mostly offshore licences Partnered with major international oil and gas companies (Apache Corporation, BG Group, Premier Oil, PTTEP and Tull
Slide 27: Kenya L6 Summary
Kenya L6 Summary Kenya L6 For personal use only LOCATION: Lamu Basin, Onshore /Offshore Kenya PROJECT SIZE: 5,010 square kilometres JOINT VENTURE PARTNERS: Offshore FAR Limited (Operator) 60.00% Pancontinental Oil & Gas Group 40.00% Onshore Milio International Group (Operator)* 60.00% Pancontinental
Slide 28: Pancontinental Summary
Pancontinental Summary • Over the last fourteen years Pancontinental has generated new exploration concepts and has been awarded a number of exploration licence areas around Africa and the Mediterranean, with subsequent For personal use only successful “farmouts”. • Pancontinental’s partners have in
Slide 29: The Immediate Future
The Immediate Future For personal use only Pancontinental is awaiting high-impact drilling in Namibia PEL 37 Pancontinental has been examining in-depth a number of potential new projects in Africa and the Mediterranean The current industry climate means that new projects must exceed Pancontine
Slide 30: For personal use only
Head Office - Level 1, 10 Ord Street, Perth, Western Australia 6005 Postal Address - PO Box 1154, Perth Business Centre, Western Australia 6872 For personal use only Telephone +61 8 6363 7090 Facsimile +61 8 6363 7099 ACN 003 029 543 www.pancon.com.au 30
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