Xstate Resources Limited · ASX:XST
Xstate Resources — RIU Good Oil Conference 2013
22 slides from Xstate Resources's conference presentation, Sep 5, 2013
Slide 1: RIU Good Oil Conference Presentation ASX lodgement
ABN 96 009 217 154 For personal use only 5 September 2013 ASX Limited Electronic lodgement ASX Code: XST RIU Good Oil Conference Presentation Xstate Resources Limited attaches a copy of a presentation made by the Company’s Managing Director, Gary Jeffery, at the RIU Good Oil Conference. For and on b
Slide 2: Xstate Resources Limited - Good Oil Conference
For personal use only XST Xstate Resources Limited Gary Jeffery Managing Director Good Oil Conference September 2013 Please Note New Office Address: Suite 1, 45 Ord Street West Perth
Slide 3: Disclaimer, Risks, Competent Person Statement
Disclaimer, Risks, Competent Person Statement For personal use only This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be effe
Slide 4: Corporate
Corporate For personal use only Tight Capital Structure: Shares on Issue: 125 Million Director Options @ 4,6 & 8 cents: 17 Million Top 10: 42% Top 20: 57% Share Price: 0.9 cents Market Cap: $1.1 Million Cash: ~$400K No Debt Directors: Gary Jeffery Managing Director Andrew Childs Non Executive Direct
Slide 5: New strategic direction
New strategic direction For personal use only • Maximising cash efficiency by reducing costs • Working in areas that are affordable, onshore rather than offshore • Building new low-entry-cost asset base for rejuvenating and recapitalising • New Investment Areas must: – Have proven oil and gas produc
Slide 6: Xstate is now Repositioned for Growth
Xstate is now Repositioned for Growth For personal use only • Tunisian Asset Sale for Cash plus Prospective Bonus -Completed June 2013 • Indonesian Acquisition Evaluated and Not Pursued after Due Diligence • Conventional Onshore California Focus • BUILDING FOUNDATION FOR GROWTH
Slide 7: California fits Strategic Needs
California fits Strategic Needs For personal use only • California is an enormous user of energy • California is a large importer of energy from other areas • California has extensive energy infrastructure, support services and markets (refer to Additional Information) • Limited conventional deep ex
Slide 8: California - Oil & Gas
California- Oil & Gas For personal use only “Perceptions should be Tested” 1930 Today Photo courtesy of Department of Oil Properties, City of Long Beach Photo courtesy of Long Beach Public Library Collection
Slide 9: Oil & Gas in California
Oil & Gas in California For personal use only • Multiple Conventional Sandstone Reservoirs • Rich Oil & Gas Source Rocks • Variety of stacked Oil & Gas Traps • USGS Estimates of still to be recovered Conventional Resources: • California - 11 Billion barrels (boe) • All USA - 90 Billion barrels (boe)
Slide 10: Counter-cyclic in Sacramento Basin
Counter-cyclic in Sacramento Basin For personal use only Limited activity in Sacramento Basin. Other explorers are focused on oil basins in southern CA. Room for Xstate to participate at significant 2011-14 Planned scale in Conventional Wells Gas Prospects.
Slide 11: Sacramento Basin - California
For personal use only Sacramento Basin - California USGS The Sacramento Basin forms the northern half of California’s Central Valley. It is an elongate, northwest-trending structural trough filled with more than 20,000 feet of Early Cretaceous (~145 to 100 million years old) and younger marine and n
Slide 12: Why do these Opportunities Exist?
Why do these Opportunities Exist? For personal use only • Recent focus of onshore USA exploration is on unconventional shales with high liquid yield “sweet spots” • Sacramento Basin exploration has focussed on known producing reservoir infill opportunities, and production enhancement utilising small
Slide 13: Under-explored with Modern Methods
Under-explored with Modern Methods For personal use only
Slide 14: Xstate is part of a strong JV in California
Xstate is part of a strong JV in California For personal use only • Local JV Operator (20%) with proven track record – drilled over 300 wells in California • AOC (40%) is generating “Home Grown” exploration plays using extensive database of wells, 3D & 2D seismic data • Xstate (10-25%) is actively i
Slide 15: Developing Portfolio - Attractive Attributes
Developing Portfolio - Attractive Attributes For personal use only • Modest current California production as entry to access HBP leases and 3D seismic • Significant prospects defined using 3D seismic • Onshore drilling opportunities for conventional sandstone plays • Secondary unconventional shale t
Slide 16: Opportunities Quantified
Opportunities Quantified For personal use only Xstate and AOC are working on prospects across the spectrum of opportunities identified on this graph, but with emphasis on the High Potential Plays
Slide 17: Xstate's Forward Plan
Xstate’s Forward Plan… For personal use only Delivering in the Short Term (6-12 months) Production Production Enhancement from existing fields via well re-entry and recompletion Actively Leasing Acreage based on Prospect mapping Farmout- Single Or Portfolio of Prospects Drilling Wells Xstate will be
Slide 18: Thank you!
For personal use only Thank you!
Slide 19: Additional Information
Additional Information For personal use only
Slide 20: For personal use only
For personal use only Boxed area detailed on next slide
Slide 21: Detail of Sacramento Basin Oil and Gas Infrastructure
For personal use only Detail of Sacramento Basin Oil and Gas Infrastructure
Slide 22: Unconventional Resources
Unconventional Resources For personal use only Unconventional shale reservoirs have been identified in the Sacramento Basin and will be drilled through to get to Conventional Reservoirs Geo-pressured Sacramento Basin Shales are identified secondary targets