Grand Gulf Energy Limited · ASX:GGE
Grand Gulf Energy — Shareholder Meeting (December 2011)
19 slides from Grand Gulf Energy's shareholder meeting presentation, Dec 1, 2011
Slide 1: AGM Presentation November 2011
For personal use only AGM Presentation November 2011
Slide 2: Company Strategy
Company Strategy For personal use only o Project Style o Conventional High Impact Projects (ie big prospects: high IP IP’s s and large well reserves). reserves) o Strong 3D prospects with good analogues – prospects are selected based on the quality of the generators 3D, interpretation and analogue d
Slide 3: Project Highlights
Project Highlights For personal use only o New Discoveries: o Abit (20%WI) off 350,000-700,000 Abita 350 000 700 000 BO and d 8 BCFG, BCFG ETA production d ti mid id Jan J o La Posada (4.75%WI) – sold for US$7.5m. o Development: o Dugas & Leblanc #3 (39 (39.5%WI) 5%WI) on production in M sand at 235
Slide 4: Corporate Snapshot
Corporate Snapshot For personal use only Directors & Management Key Data Charles Morgan Executive Chairman Share Price 0.4c Major Shareholders Mark Freeman Executive Director Market Cap $15m Charles Morgan 19.95% Stephen Keenihan Director Shares on 3.74b g Burton Craig 10.21% Issue Alan Boss Directo
Slide 5: Drilling & Development Activity
Drilling & Development Activity For personal use only Dec 2011 Jan/Feb March/April July Aug - Dec 2012 2012 2012 2012 Grizzly Abita Vermillion River Leduc Reef West Klondike Desiree Facilities Completion Exploration Wells Development p Wells First Production ASX Code l GGE 5
Slide 6: Resource Growth Potential
Resource Growth Potential For personal use only Resources numbers are based on mid case of estimates of potential 3,500 3,000 2,500 Desiree Leduc Reef ‘000 BOE Explorattion 2,000 West Klondike Vermillion 1,500 Grizzly D&L#3 1,000 Abita 500 - Expected Exploration and Development Program over next 4 m
Slide 7: Analysis of Resource Potential
Analysis of Resource Potential For personal use only Oil Gas Net Oil Net Gas Working Interest (mmbo) (BCF) (‘mbo) (‘bcf) Development Abita 20%* 0.35-0.7 8 70-140 1.6 D&L#3 39.50% 0.4 1.2 160 0.5 Total Development 230-300 2.1 Exploration p Grizzly 5.25% 1-2 45-100 50-110 2.4-5.3 Vermillion 7.8% 3.3-5
Slide 8: Production Growth - Potential BOE/day
Production Growth - Potential BOE/day Net to Grand Gulf For personal use only D&L#3 “M” Sand Abita 120 BOE BOE/Day 150 100 50 0 Estimated flow rates are quoted net to GGE post royalties ASX Code l GGE 8
Slide 9: Area of Operations
Area of Operations For personal use only LOUISIANA ASX Code l GGE 9
Slide 10: Production – Dugas & Leblanc #3
Production – Dugas & Leblanc #3 For personal use only Dugas & Leblanc #3 D&L Well #3 D&L Well #1 D&L Well #2 D&L DISCOVERY 6,900’ Msd -6,900’ • Recently completed in “M” sand with production at 235 bopd and 1.4 mmcfd 200’ GROSS 7,000’ 7,000’ 400 000 BBLS • Generating ~ US$180,000 per month net to 7,
Slide 11: Development - Abita
Development - Abita For personal use only Abita • Flow tests 3 lowest intervals with rates of 29-67 bod and 1.3 to 2.25 mcfgd • Well is due to commence production in mid January • Logged 171 ft net pay over 9 pay sands • Estimating some 8 Bcf / 350-700 MBO • 20% WI (15% after project payout) • 75% N
Slide 12: Exploration – Grizzly (High Impact)
Exploration – Grizzly (High Impact) For personal use only SL 19965#1 well - (5.25% WI) • Well is presently at 10,250ft and targeting first objective at 11,200-11,400ft • Recoverable resource potential of 1-2 MMBC / 45-100 BCFG • Defined by 3D seismic, upthrown fault bounded structural closure • On t
Slide 13: Exploration – Vermillion River
Exploration – Vermillion River For personal use only La Posada Style- (7.83% WI) • Recoverable resource potential of 3.3-5.5 MMBC / 110-185 BCFG • Well is due to spud end of December • Operator, Walter Oil & Gas Corporation Operator (La Posada partner) • Defined by 3D seismic, in a 3 way dip closure
Slide 14: Exploration – Leduc Reef
Exploration – Leduc Reef For personal use only 14% WI • Well is due to spud this year or early next quarter with 21 days to drill. • Recoverable resource potential of 1-12 MMBO,, IP’s estimated at 100-300 BBLS/D/ • Defined by 3D Seismic, mounded feature and probably bio-carbonate • Analogues for thi
Slide 15: Exploration - West Klondike
Exploration - West Klondike For personal use only 10.5% WI • Well is due to spud December/January • Recoverable resource potential of 2-4.8 MMBC / 6-17 BCFG • Prolific productive sands sands, targeting 5 separate objectives • US$370,000 dry hole costs • Defined by 3D Seismic • Along trend from produ
Slide 16: Exploration/Development Well Napoleonville
Exploration/Development Well Napoleonville For personal use only Desiree # 1 (52% WI) • Targeting an accumulation of oil in a well defined updip block from an interval that produced 2.3 million barrels equivalent. • Accumulation estimated at 600,000 , to 800,000 bbls. • 300,000 to 400,000 Bbbls net
Slide 17: High Level Summary
High Level Summary For personal use only o Successful drilling programme during 2011 o GGE has successfully participated in 2 major onshore Gulf of Mexico discoveries in the last 6 months and put an additional development well on production. o Strong balance sheet with Cash of $6 $6.5m 5m (after pay
Slide 18: Disclaimer – Important Notice
Disclaimer – Important Notice For personal use only This document has been prepared by Grand Gulf Energy Ltd ABN 22 073 653 175 (“Grand Gulf"). This presentation contains certain statements which may constitute "forward-looking statements". It is believed that the expectations reflected in these sta
Slide 19: Competent Persons Statement
For personal use only AGM Presentation November 2011 COMPETENT PERSONS STATEMENT: The information in this report has been reviewed and signed off by Mr KC Whittemore (Registered Geologist, Texas USA), and Kevin Kenning (Registered Resevoir Engineer) with over 36 and 30 years relevant experience resp
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