Fin Resources Limited · ASX:FIN
Fin Resources — Orca Energy — Investor Presentation (October 2011)
21 slides from Fin Resources's investor presentation, October 2011
Slide 1: Company Presentation
Company Presenta.on October 2011
Slide 2: Disclaimer
Disclaimer The informa,on contained in this presenta,on (“Presenta.on”) has been prepared by Orca Energy Limited (“the Company”) and is being delivered for informa,onal purposes only to a limited number of persons to assist them in deciding whether or not they have an interest in inves,ng in the Com
Slide 3: Capital Structure
Capital Structure ASX Listed – ASX: OGY § Previously Monitor Energy – ASX: MHL § Current Shares on Issue – 9,100,671,434 § Current Share Price – 0.2c § Market Capitalisa,on – $18m § Cash – Circa A$1m 3
Slide 4: Management
Management Senior Management § Greg Bandy – Execu.ve Director Over 12 years broking & corporate experience in Australia. Senior Advisor with Patersons Securi,es. Execu,ve Director of dual listed Red Emperor Resources (ASX/AIM: RMP) and responsible for managing and facilita,ng the acquisi,on of the
Slide 5: Overview
Overview § Orca Energy have a 20% interest in the highly prospec,ve “Seabiscuit Project”, acquired in August 2011 and announced to the market on 12 July, 2011 § The Seabiscuit Project covers an area of approx. 1,750 acres and has the poten,al to contain up to 1Tcf and 10MMbo § Drilling expected t
Slide 6: Seabiscuit Acquisition & Partners
Seabiscuit Acquisi.on & Partners § Orca Energy acquired its 20% interest in the Seabiscuit Project through the acquisi,on of 100% of the issued capital of Sugarbay Investments Pty Ltd, the current assignee and JV par,cipant in the project § Sugarbay was assigned their interest by Crest Resources,
Slide 7: Seabiscuit Location
Seabiscuit Loca.on Texas Gulf Coast Geological Map of Texas 7
Slide 8: Seabiscuit Location (cont.)
Seabiscuit Loca.on (cont.) § The Seabiscuit Project is located along the Texas Gulf Coast in Matagorda County, within the expanded Frio producing trend § The prospect is on trend with several recent discoveries and world class oil and gas fields Regional Produc,on Map 8
Slide 9: Seabiscuit Structure
Seabiscuit Structure § The Seabiscuit Project is a large structural closure with an area of approximately 1,750 acres on the Gulf Coast § It is located in an ideal geological sewng on trend with recently drilled wells flowing at sustained rates of 20 million cubic feet of natural gas and 200 barrel
Slide 10: Seabiscuit Structure (cont.)
Seabiscuit Structure (cont.) § 3D seismic data clearly indicate the presence of a large, 3-‐way dip closure at the Upper Tex Miss objec,ve § Up-‐thrown fault traps such as Seabiscuit are well known to be produc,ve along the prolific Texas Gulf Coast 10
Slide 11: Seabiscuit Geological Summary
Seabiscuit Geological Summary § Nearby wells have confirmed hundreds of feet of high quality reservoir sandstones, and the proposed well is expected to penetrate the objec,ve forma,on approximately 500 feet higher than the closest well which is 4 km’s away and produced gas and condensate from the ve
Slide 12: Seabiscuit Seismic
Seabiscuit Seismic § Seabiscuit was mapped on high quality 3D seismic data, processed with state-‐of-‐the-‐art Pres-‐ stack ,me migra,on § NW-‐SE dip lines show the main trapping fault and posi,on of Seabiscuit updip to produc,ve wells 3D Seismic Dip Line 12
Slide 13: Seabiscuit Seismic (cont.)
Seabiscuit Seismic (cont.) § NE-‐SW strike lines show the cri,cal dip reversal on strike necessary for a large, up-‐thrown fault trap. § 3D seismic supports the interpreta,on that the Seabiscuit trap was in place well before hydrocarbon migra,on occurred. 3D Seismic Strike Line 13
Slide 14: Tex Miss Target: World Class Reservoir
Tex Miss Target: World Class Reservoir § As evidenced by the Devon Harrington #1 well in the nearby Silverspoon Field (type well), the Tex Miss has the poten,al for massive sand development with excellent porosity and permeability § The Devon well produced approximately 9.9 Billion Cubic Feet of n
Slide 15: Drilling Timetable & Fiscal Terms
Drilling Timetable & Fiscal Terms § The first well is expected to be drilled in Q1, 2012 § Orca’s share of drilling costs (OGY -‐ 20%) will be circa $US1.8m § NRI – 72% (Standard for US oil & gas plays of this nature) § Mid case success scenario would call for 6-‐10 development wells to be dril
Slide 16: Cooper Basin
Cooper Basin § PEL 115 (OGY 42%) – Oil discovery in December 2009 (Fury-‐1) – 13m gross oil column with an interpreted range of volumes of oil in place from a mean 7.99MMbo to a highside 17.44MMbo* – Tes,ng and comple,on delayed due to heavy rain & flooding in the Cooper Basin – JV review of econom
Slide 17: PEL 115 Location
PEL 115 Loca.on PEL 115 – Orca Energy 42% 17
Slide 18: PEL 115 – Large Shale Potential
PEL 115 – Large Shale Poten.al Coal Seam Methane & Shale Gas Potential § Extensive gas zones have been identified in deep coal/shale units throughout the Cooper Basin. § Endorsed and promoted by major Cooper basin players: Santos, Drillsearch, Beach § Senex have estimated over 100 Tcf Gas-in-Plac
Slide 19: Summary
Summary § Orca Energy has managed to secure a world class oil & gas explora,on project with “company making” upside § The Seabiscuit JV partners and operator are significant players in the Gulf Coast, USA and provide the exper,se and funding required to achieve success § Drilling is imminent with
Slide 20: Assumptions for Seabiscuit NPV's
Assump.ons for Seabiscuit NPV’s § Most likely Case – Assumes a 10-‐well development averaging 20 Bcf & 200 Mbo per well – Average well cost of $9MM – Oil price of $85 per barrel and gas price of $4.50 per Mcf – Current state severance tax assump,ons used – Opera,ng expenditure of $5,000 per month
Slide 21: Orca Energy Limited
Orca Energy Limited ASX: OGY 35 Richardson Street | West Perth WA 6005 www.orcaenergy.com.au info@orcaenergy.com.au 21