Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — RIU Good Oil Conference 2010
18 slides from Synergia Energy's conference presentation, Sep 8, 2010
Slide 1: India Focus: Cambay Reserves Upgrade
Good Oil Conference 8 September 2010 India Focus Cambay Reserves Upgrade 1
Slide 2: Oilex Snapshot
2 Oilex Snapshot • India focus • Large reserves in Cambay • High impact exploration assets in Australia and Timor Sea • Cash at 30 June A$16.8 million, no debt Capital Structure ASX and AIM-listed 220 million shares Oilex developed a diversified portfolio of growth opportunities around the Indian Oc
Slide 3: Reserve and Resource Estimates
3 Reserve and d Resource Estimates i Summary y of Reserves Reserves Justified for Development Attributable to Oilex Net Working Interest (45%) Probability P90 P50 P10 Natural gas (BCF) 248 384 591 Condensate (MMbbls) 11 17 27 Summary of Contingent Resources Contingent Resources Development Pending A
Slide 4: Cambay Eocene Reserves Upgraded
4 Cambay Eocene Reserves Upgraded Condensate Natural Gas (million barrels, Oilex 45% interest) (billion cubic feet, Oilex 45% interest) 17 384 14 324 P50 Reserves P50 Contingent Resources P50 Reserves P50 Contingent Resources Conventional wisdom – Cambay Eocene reservoirs tight • 9 month program of
Slide 5: Oilex in India
5 Oilex in India • Cambay Basin – the heart of Gujarat’s Industrial Area • 3 Production Sharing Contracts (PSC’s) • Joint Ventures with Gujarat State Petroleum Corporation (GSPC) • Low initial production • Good PSC terms Location of Oilex PSC assets: Cambay (45%), Sabarmati (40%), Bhandut (40%), Oil
Slide 6: Gujarat – Growth engine of India
6 Gujarat – “Growth engine of India” One of India’s fastest growing and most industrialised states • GDP growth rate 10.4% p.a. (av. 02-07) • Largest producer of petroleum products, chemicals and others • Major gateway for international trade • Delhi-Mumbai Industrial Corridor - US$90bn infrastructu
Slide 7: Gas Market
7 Gas Market India • India gas demand is rising fast with increasing gas fired power generation capacity • Indian gas consumption growing from 1.7 TCF (2009) to 3.1 TCF (2014) (source: BMI O&G Report). • Gas imports increasing to 1.6 TCF p.a. by 2019 (source: BMI: O&G Report). Gujarat • Existing gas
Slide 8: Shale Gas Industry
8 “Shale Gas” Industry Rapidly growing sector in North America driven by recent advances in technology Map of shale gas deposits in USA: Source Energy Information Administration Updated May 2009
Slide 9: Good correlation between Cambay and USA shale plays
9 Good correlation between Cambay and USA shale plays COMPARISON WITH NORTH AMERICAN TIGHT / SHALE PLAYS Cambay Eocene Tight / shale gas basin Eagle Ford Haynesville X,Y,Z zones Depth, metres 1,675 - 2,440 2,895 - 3,260 3,200 - 4,115 Net Thickness, metres 140 - 400 15 - 70 60 - 90 Total Organic Carb
Slide 10: Cambay History
10 Cambay History ONGC (1957-1990s) • over 30 wells drilled Eocene • developed shallow OSII gas reservoirs • produced 52 BCF gas • shut in early 1990’s Conventional drilling (2006–08) • Oilex farm in Cambay Gas Gathering Station: Under care and maintenance • Joint Venture with GSPC • Identified unde
Slide 11: Extensive data base evaluated
11 Extensive data base evaluated Data • Log & core data from 36 wells • Re-processed 3D seismic (block wide) • Conventional well test data Studies • Petrophysical analysis • Tight/Shale gas applications • Fracture designs modelled • Re-interpreted 3D seismic data • Identified “shale gas” analogues •
Slide 12: Large tight pay zone interpreted
12 Large “tight” pay zone interpreted • 200-500m gross interval across contract area • 3 large pay zones (X, Y and Z) • Further upside in section below Z zone W Cambay-19z Cambay-73 Cambay-23z Cambay-40 E X Zone OSII Y Zone Top Eocene X Zone Y Zone Z Zone Deccan Z Zone 2 km
Slide 13: Expertise and Technology
13 Expertise and Technology • proprietary software • design stimulated completions • database >45,000 wells • alliance with Oilex Stimulated completion scenarios modelled to • independent certifier determine optimum design • shale gas experience • drilling design & implementation • tight reservoir e
Slide 14: Cambay Field Work Program
14 Cambay Field Work Program Possible Work Program 2010 2011 Q3 Q4 Q1 Q2 Q3 Q4 Reserve Estimates Technical Studies Reserves Certfication Horizontal Well Fracture Stimulation Production Testing Further Drilling ? • Independent reserves certification • Drill horizontal well, multi stage fracture and p
Slide 15: WA-388-P North West Shelf, Australia
15 WA-388-P North West Shelf, Australia Oilex 14%, Operator • Seven leads 0.3 to 2.8 TCF prospective resource (100% basis) • Direct Hydrocarbon Indicators • Ready for drilling
Slide 16: JPDA 06-103 Timor Sea
16 JPDA 06-103 Timor Sea Oilex 10%, Operator • 2 unsuccessful wells drilled in early 2010 • Remaining potential in north of block • Work program under review
Slide 17: Summary
17 Summary • Cambay Field reserves are significant focus on India • Drilling in first half of 2011 • High impact exploration blocks in North West Shelf and Timor Sea • Cash preserved Choose picture
Slide 18: Disclaimer
18 Disclaimer The presentation in this projected form and as verbally presented (Presentation) is provided on the basis that none of the Company nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representatio