Adx Energy Ltd · ASX:ADX
Adx Energy — Shareholder Meeting (February 2024)
26 slides from Adx Energy's shareholder meeting presentation, Feb 22, 2024
Slide 1: An ASX listed European Energy Producer and Explorer
For personal use only An ASX listed European Energy Producer and Explorer “Reliable energy doesn’t need to cost the earth” ASX:ADX I n v e ASX: s t o rADX Update | 2 2 F e b r u a r y 2 0 2 4 | G e n e r a l M e e t i n g Pr e s e n t a t i o n adx-energy.com
Slide 2: Disclaimer Statement
2 Disclaimer Statement Important notice: For personal use only This document has been prepared by ADX Energy Ltd (“ADX”) for the purpose of providing information to interested analysts, investors and shareholders. Any statement, opinions, projections, forecasts or other materials contained in this d
Slide 3: Investment Proposition and Operating Strategy
Investment Proposition and 3 Operating Strategy For personal use only Stable Reserves and World-class Value Adding, Operating Active Drilling Underlying Production Exploration Complementary Capability Program and Increasing Growth from Portfolio in the Renewable • Ability to • Funded by Cashflow New
Slide 4: Corporate and Asset Summary
4 Corporate and Asset Summary Positioned for a smarter, cleaner future for Europe Capital Structure Share price as at 20.02.2024 A$ 0.11 For personal use only Number of shares 428.5 m Number of options 73.8 m Market capitalisation A$ 47.1 m Austria Oil & Gas Assets Austria Clean Energy Projects Vien
Slide 5: Our focus is on Austria and Europe
5 Our focus is on Austria and Europe A great place to build a diversified energy business Permit & Environmental Permiting Approvals & Environmental Approvals (months) Australian For personal use only Licht Anshof Welchau 0 10 20 30 A significant oil and gas industry 1 billion bbl oil & 2.7 Tcf gas
Slide 6: European gas market dynamics
6 European gas market dynamics Large premium to US & structurally higher long-term prices Fundamental changes to the Dutch TTF vs U.S. natural gas and Asian LNG1 Dutch TTF (USD per MMBtu) European gas market since Russia’s For personal use only 5(x) price increase due invasion of Ukraine in Feb-22:
Slide 7: 2023 Highlights
7 2023 Highlights For personal use only 01 02 04 05 Finance Production Appraisal & Exploration ▪ Share Capital Development ▪ Stable ▪ Welchau Prospect Consolidation production from drill ready of 1 for 10 Vienna Basin ▪ Drill Anshof-2 ▪ Near Field Gas ▪ Placement & Fields appraisal well prospects Sh
Slide 8: 2024 Planned Activities
8 2024 Planned Activities Period of high activity focussed on increased cash flow and reserves growth Welchau- 1 Anshof field development program For personal use only Exploration well 2 new Anshof wells Anshof-2 Recommence production with capacity increase to Side Track well 3,000 bopd Near f
Slide 9: Near Term Exploration Activity in Upper Austria
9 Near Term Exploration Activity in Upper Austria High impact, drill ready portfolio in the heart of Europe 1020 km For personal use only 807 bcfe1 World-class Welchau 2 1 acreage gas prospect to be drilled in March 2024. Adjacent to tested gas discovery at Molln 20 Prospects Multiple High Impact Ga
Slide 10: Production and Development
For personal use only Production and Development Vienna Basin Oil and Gas Fields, Anshof appraisal and development update 10
Slide 11: Vienna Basin Production Assets
11 Vienna Basin Production Assets Stable, high value production with long term potential Vienna Basin Fields (100% interest) A long-term future for Vienna Basin Fields ▪ A unique position – own the land + storage reservoirs + green For personal use only ✓ Low emission, low decline production deliver
Slide 12: Anshof Oil Field Production
12 Anshof Oil Field Production Recommencement of Anshof-3 Anshof-3 (BOPD) Average monthly production rate production - end Q1 2024. only 140 • Long term test production from Oct use (BOPD) 120 2022 until Sep 2023 was facilities 100 constrained. Average Production of 115 BOPD Monthly Production 80 •
Slide 13: Anshof Appraisal and Development
13 Anshof Appraisal and Development Anshof-2 well results ANS-3 vs ANS-2 Reservoir Comparison ▪ Thicker & better quality reservoir. At or near the field oil-water-contact ✓ Net vertical thickness (m): 2m vs 12m For personal use only ▪ Eocene intersection some 60m shallow to prognosis oil volume ✓
Slide 14: Anshof Planned Activities
14 Anshof Planned Activities Well planning and drilling Anshof-2 drilling with the RED E-202 drilling rig For personal use only ▪ Review mapping and geological structural model post Anshof-2 ▪ Confirm ANS-2 sidetrack location for a producer to drill after Welchau -1 well (Q2 2024) ▪ Determine locati
Slide 15: Upper Austria Exploration
For personal use only Upper Austria Exploration Prospect Details Drill ready prospects with access to infrastructure that are funded by farmouts 15
Slide 16: Welchau-1 Summary
16 Welchau-1 Summary Prospect History 1989 Molln-1 well test ▪ Northern Calcareous Alps exploration (OMV 1985 For personal use only to 1995 & RAG/OMV 2012 ) ▪ Four offset wells drilled (1 gas and 1 oil discovery) in the foothills of the Austrian Alps ▪ New structural model based on integrated field
Slide 17: Welchau-1 Prospect Resources summary
17 Welchau-1 Prospect Resources summary Welchau-1 Drill Site Comparison of ADX and Gaffney Cline Prospective Resource Estimates 2 Welchau Drill Site Location Construction Austrian Forestry Department landowner For personal use only ADX Gross Prospective Resource Estimates (Reported 20 June 2022) Hyd
Slide 18: Welchau-1 Drilling Operations
18 Welchau-1 Drilling Operations Commencement of Drilling For personal use only 1. Well site construction complete 2. RED Drilling & Services GmbH E-200 drilling rig commenced mobilisation and assembly on 18 Feb 2024 3. Well spud on or before 25 Feb 2024 Drilling Program 1. Drill depth 1500 m to 190
Slide 19: Welchau-1 Prospect Commercial Fundamentals
19 Welchau-1 Prospect Commercial Fundamentals Drill depth, location and gas markets Austrian Gas Net Work 1. Relatively shallow drill depth less than 1800 m Gas transit connected to Italy, Germany, Slovakia, Slovenia, Hungary For personal use only 2. Short tie-in distance to the national gas pipelin
Slide 20: Welchau vs European gas projects comparison
20 Welchau vs European gas projects comparison Austria’s onshore setting & access to existing infrastructure delivers superior economics Country Austria U.K. Italy For personal use only Asset type Onshore Offshore Onshore Cost Environment Medium High Medium 19-22% Royalty No Royalty 10% Royalty 24%
Slide 21: Welchau gas potential is of national significance
21 Welchau gas potential is of national significance Austria’s gas supplies remain highly vulnerable & Russia dependent "Our dependence on Russian natural gas threatens the Russian Imports as a Percentage of Total For personal use only prosperity, security and future of our country. Our goal is to g
Slide 22: Planned Gas Exploration
22 Planned Gas Exploration IRR–1 Gas Prospect (MND Farmin Well, Q4 2024 Drilling) New technical interpretation using seismic responses indicative of IRR Min Best Max gas and nearby well data Prospect (P90) Technical (P10) For personal use only Analysis of analogous gas reservoirs in nearby gas field
Slide 23: New Trend of Low Risk, Shallow Gas Prospects
23 New Trend of Low Risk, Shallow Gas Prospects Portfolio addition from new ideas and state of the art techniques New gas prospects have been matured Best Technical Fluid Prospect Recoverable Combination of AI Software, an international team of (Expected) For personal use only (BScf if gas) stratigr
Slide 24: ADX Role in European Energy Transition
24 ADX Role in European Energy Transition Well positioned in the near-term as well as long-term Growth in Global Energy Demand Oil & gas demand continues to increase For personal use only The transition to renewables is taking longer than Pace of Transition to Date expected Gas is a transition fuel
Slide 25: The ADX Team
The ADX Team 25 Experience of our Board and Management Team For personal use only A highly experienced management team with a proven track record of initiating, operating and ADX Energy – Board Members developing international energy projects. L-R: Andrew Childs, Non Executive Director, Peter Ironsi
Slide 26: Thank you for your attendance
For personal use only Thank you for your attendance For further information contact: Ian Tchacos ASX: ADX Executive Chairman adx-energy.com ian.tchacos@adxenergy.com.au Amanda Sparks Finance Manager & Company Secretary Connect with Us amanda.sparks@adxenergy.com.au Better energy A cleaner smarter fu