Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Pancontinental Oil & Gas NL — Shareholder Meeting (November 2012)
31 slides from Pancontinental Energy Nl's shareholder meeting presentation, Nov 30, 2012
Slide 1: Annual General Meeting Presentation
For personal use only Annual General Meeting Presentation 30 November 2012 www.pancon.com.au
Slide 2: Disclaimer
Disclaimer These materials are strictly confidential and are being supplied to you solely for your information and should not be reproduced in any form, For personal use only redistributed or passed on, directly or indirectly, to any other person or published, in whole or part, by any medium or for
Slide 3: Overview
Overview Pancontinental Oil & Gas NL (“PCL”) is an ASX listed Oil & Gas Exploration Company For personal use only Anomalous - best positioned of the few junior explorers left standing offshore East Africa & Namibia Participation in potentially 4 wells offshore Kenya over the next 12 to 18 months (su
Slide 4: Board & Management
Board & Management Mr Henry David Kennedy, Chairman Mr Kennedy has had a long association with Australian and New Zealand resource companies. As a technical director he has been instrumental in the formation and/or development of a For personal use only number of successful listed companies. These i
Slide 5: Corporate Snapshot
Corporate Snapshot Capital Structure Shareholder Split For personal use only Shares on Issue 1,151 m Board & Mgmt Others Options on Issue1 2.25 m 15% Market Cap. (at $0.081) $93 m 58% 27% Cash (September 2012) $39.2 m Debt Nil Institutional Enterprise Value $54m 1. 2.25m options (exercise price $0.1
Slide 6: Pancontinental's Project Interests
Pancontinental’s Project Interests Asset PCL% Sq Km Partner Operator For personal use only KENYA OFFSHORE Kenya L6 40% 3,134 FAR 60% FAR Kenya L8 15%* 5,115 Apache 50% Apache Origin20% Tullow15% Kenya L10A 15% 4,962 BG Group 40% BG Group PTTEP 25% Premier 20% Kenya L10B 15% 5,585 BG Group 45% BG Gro
Slide 7: Success in East Africa Driving Industry Interest
Kenya – Success in East Africa Driving Industry Interest For personal use only Pancontinental has an early mover advantage in Kenya – now positioned alongside majors Focus now beginning to turn to offshore Kenya after multiple gas discoveries offshore Mozambique and Tanzania Mbawa 1 gas discovery -
Slide 8: East Africa – Main Offshore O&G Players
East Africa – Main Offshore O&G Players For personal use only Apache, Tullow, Origin Offshore Kenya First offshore gas discovery Anadarko, Total Sept 2012 - Mbawa 1 - PTTEP PCL 15% (2nd Well in 20 years) BG Group, Premier PTTEP Offshore Tanzania • Ophir, BG 10+ TCF gas Petrobras • Statoil, ExxonMobi
Slide 9: Offshore Kenya – Exploration Areas
Offshore Kenya – Exploration Areas For personal use only L6, L8, L10A, L10B L6 - 3,100 sq km FAR Limited 60% Pancontinental 40% L8 - 5,115 sq km Apache 50% Origin 20% Pancontinental 15%* Tullow 15% L10A - 4,962 sq km BG 50% PTTEP 20% Premier 20% Pancontinental 15% L10B - 5,585 sq km BG 50% Premier 2
Slide 10: Tana River Delta / Lamu Basin
Kenya Tana River Delta / Lamu Basin The development of the Tana River delta in the Tembo and Maridadi Troughs from the Jurassic to the Tertiary represents a restricted depositional environment For personal use only Residual Gravity Map Offshore Kenya Schematic of Cretaceous and Tertiary deposition T
Slide 11: Offshore Kenya – Prospects/Leads Maps
Offshore Kenya – Prospects/Leads Maps Lamu Pancontinental has- For personal use only OFFSHORE KENYA L6, L8, L10A, L10B Interests in 4 licences offshore PROSPECTS AND LEADS MAP Kenya totaling ~ 19,000 sq km (Various Sources) Mbawa 3D More than 40 Prospects and Leads L6 Survey Area Multiple play types
Slide 12: L8 – Mbawa Drilling
Kenya L8 – Mbawa 1 Drilling For personal use only MBAWA 1 DISCOVERY -- SEPTEMBER 2012 -- PANCONTINENTAL 15%
Slide 13: L8 - Mbawa Discovery
Kenya L8 - Mbawa Discovery Mbawa 1 Discovery For personal use only Mbawa 1 drilled to 3,150m MD September 2012 On time and under budget First ever hydrocarbon discovery offshore Kenya Reversed earlier perception from Woodside's 2007 Pombo 1 well of no source rock and no oil or gas Preliminary Evalua
Slide 14: L8 Mbawa Follow-Up
Kenya L8 Mbawa Follow-Up For personal use only
Slide 15: L8 – Tai Close-up
Kenya L8 – Tai Close-up Tai Multiple Prospects and Leads available For personal use only Thick Clasytone sequence from the Mbawa and Nanaa 3D surveys Mbawa Sands above Tai and Nanaa are two drilling Detachment possibilities Tai is one opportunity for an Mbawa follow-up - * Below Detachment * Differe
Slide 16: L8 – Forward Programme
Kenya L8 – Forward Programme Mbawa analysis is ongoing into 2013 For personal use only Nanaa 3D interpretation will be completed late 2012 – aiming to define new Prospects Second well - Joint Venture decision awaited Tai is one of the main candidates for a second well Nanaa 3D Mbawa Mbawa Gas Mbawa
Slide 17: L10A & L10B
Kenya L10A & L10B For personal use only Blocks awarded 2011 Total ~10,000 km2 L5 Water depth 200m to 1,800m Two Interpreted oil “kitchen” L7 troughs Anadarko JV L6 Kubwa Prospect- 1 well “Fast Track” exploration programme L8 L12 Large number and geological L10A – 4,962 sq km L11A variety of “Leads”
Slide 18: L10A/L10B – Multiple Opportunities
Kenya L10A/L10B – Multiple Opportunities Turaco East Sector 3D Reef Seismic TERTIARY CHANNELS Diverse “play” types For personal use only Variety of “Leads”- – 4 way dip closed EAST SECTOR anticlines – Miocene Reefs – Jurassic Reefs – Tertiary Channels – Rollovers into Faults – Cretaceous Channels /
Slide 19: L10A/L10B – Multiple Opportunities
Kenya L10A/L10B – Multiple Opportunities West Sector 2D + New 3D planned For personal use only UPPER JURASSIC MIOCENE REEFS “REEF” Variety of “Leads”- Sunbird – 4 way dip closed anticlines Reef – Miocene Reefs Turaco Reef – Jurassic “Reefs” – Tertiary Channels Miocene Reefs- Seismic Example – Rollov
Slide 20: L6 – Multiple Prospects
Kenya L6 – Multiple Prospects L6 - adjacent and geologically continuous to L8 (Mbawa) For personal use only Kudu Updip Total 3,134 km2, Water depth 0 to 300m L6 – 3,134 sq km Kipini Kifaru 3D survey completed July 2012 FAR Limited 60% Pancontinental 40% Farming out for drilling planned 2013 Kifaru P
Slide 21: Expected Activity Timeline – Kenya
Expected Activity Timeline – Kenya Pancontinental is well positioned offshore Kenya with direct participation in potentially 4 wells over the next 12-18 months For personal use only In addition, Pancontinental will have indirect exposure to up to 3 wells offshore Kenya in 2012/2013 Nanaa 3D Mbawa Mb
Slide 22: Offshore Namibia EL 0037 – Blocks
Offshore Namibia EL 0037 – 3 Blocks Namibia EL 0037 covers blocks For personal use only 2012B, 2112A and 2113B Chariot Oil & Gas Pancontinental 95% & Operator 17,295 km2 offshore 1 Water Depth 0 – 1,500m EL 0037 signed 28 June 2011 2 Pancontinental pursuing early 3 farmout and accelerated exploratio
Slide 23: Namibia EL 0037 – Oily Sweet Spot
Namibia EL Namibia EL 0037 0037 –– Oily Oily Sweet Sweet Spot Spot Pancontinental Acreage Pancontinental Acreage EL 0037 Offshore Namibia Fully Oil- Mature Source Rocks in “Inner Namibia EL 0037 covers 17,295 For personal use only Graben” km2 offshore Oil “sweet spot” interpreted in Predicted Presen
Slide 24: Namibia EL 0037 – Numerous Leads
Namibia EL 0037 – Numerous Leads Highly varied Play types Numerous very large Leads identified For personal use only Good historic 2D Oil Mature “Fairway” interpreted Centrally positioned in predicted oil-mature fairway “Inner Basin Floor Turbidite Fans Graben” Incised slope Channels High level of r
Slide 25: Namibia EL 0037 – Numerous Leads
Namibia EL 0037 – Numerous Leads Dalia Field Angola Turonian Transition Flexure For personal use only Zone Lower Transition Transition Zone Slope Zone ?Detached Basin- Turbidite Channel Floor Fan Flat Event A B A ------------- B 0 Km 25 D O O M D C C3.4 2.8 NAMIBIA EL 0037- E NUMEROUS LARGE STRATIGR
Slide 26: Expected Activity Timeline – Namibia
Expected Activity Timeline – Namibia For personal use only PCL is well positioned offshore Namibia to secure a farm-in partner for drilling PCL has indirect exposure to potentially 6+ offshore Namibia wells over the next 12 – 18 months NAMIBIA Technical Farmout Options 3D Seismic Under Farmout? Dril
Slide 27: Australia – EP 424 & EP 110
Australia – EP 424 & EP 110 For personal use only PCL – 38% interest Known oil province Baniyas Prospect on trend to producing oil fields Water depth of 10m 27
Slide 28: Australia – EP 104 / R1 & L15
Australia – EP 104 / R1 & L15 EP 104 - PCL 10% For personal use only L15 - PCL 12% Looking for oil on- trend to Blina etc West Kora L15 oil redevelopment 28
Slide 29: Pancontinental Summary
Pancontinental Summary For personal use only Pancontinental is well funded for foreseeable drilling activity with approximately $39 million in cash The only junior exploring two of the most exciting oil plays of the decade - East Africa and Namibia where consolidation by the Majors is ongoing Made t
Slide 30: Asset Summary
Asset Summary Block Area (km2) PCL Interest (%) Operator (%) Partners (%) For personal use only Kenya L6 3,134 40.0% FAR Limited(60%) FAR Limited (60%) Kenya L8 5,115 15.0%* Apache (50%) Apache (50%) Origin Energy (20%), Tullow (15%) Kenya L10A 4,962 15.0% BG (40%) BG (40%) PTTEP (25%), Premier (20%
Slide 31: Pancontinental Oil & Gas NL
For personal use only Pancontinental Oil & Gas NL Ground Floor 288 Stirling Street Tel: +61 (8) 9227 3220 Perth, WA 6000 Fax: +61 (8) 9227 3211 Australia www.pancon.com.au www.pancon.com.au
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