Grand Gulf Energy Limited · ASX:GGE
Grand Gulf Energy — Investor Presentation (November 2011)
20 slides from Grand Gulf Energy's investor presentation, Nov 7, 2011
Slide 1: Investor Update November 2011
For personal use only Investor Update 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’s and large well reserves). o Strong 3D prospects with good analogues – prospects are selected based on the quality of the generators 3D, interpretation and analogue data. o Engineer
Slide 3: Project Highlights
Project Highlights For personal use only o New Discoveries: o Abita (20%WI) of 350,000-700,000 BO and 8 BCFG, ETA production mid Dec o La Posada (4.75%WI) – sold for US$7.5m. o Development: o Dugas & Leblanc #3 (39.5%WI) on production in M sand at 217 bopd and 1.7 mmcfgd. o Very Active High Impact E
Slide 4: Corporate Snapshot
Corporate Snapshot For personal use only Directors & Management Key Data Charles Morgan Executive Chairman Share Price 0.5c Major Shareholders Mark Freeman Executive Director Market Cap $18m Charles Morgan 19.95% Stephen Keenihan Director Shares on 3.74m Craig Burton 10.21% Issue Alan Boss Director
Slide 5: 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 Exploration West Klondike ‘000 BOE 2,000 Vermillion 1,500 Grizzly Lyons Point 1,000 D&L#3 Abita 500 - Expected Exploration and Development Program ov
Slide 6: 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 Lyons Point 5% 3-4 60-80 150-200 3-4 Grizzly 5.25% 1-2 45-100 5
Slide 7: Production Growth - Potential BOE/day
Production Growth - Potential BOE/day Net to Grand Gulf For personal use only D&L#3 “M” Sand Abita 115 BOE BOE/Day 150 100 50 0 Estimated flow rates are quoted net to GGE post royalties ASX Code l GGE 7
Slide 8: Drilling & Development Activity
Drilling & Development Activity For personal use only Nov/Dec Jan/Feb March/April July Aug - Dec 2011 2012 2012 2012 2012 Lyons Point West Klondike Abita Desiree Grizzly Vermillion River Leduc Reef Facilities Completion Exploration Wells Development Wells First Production 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 210 bopd and 1.7 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 December qtr • Logged 171 ft net pay over 9 pay sands • Estimating some 8 Bcf / 350-700 MBO • 20% WI (15% after project payout) • 75%
Slide 12: Exploration - Lyons Point
Exploration - Lyons Point For personal use only Pruitt et al #1 well - (5% WI) • Well is presently at 15,255ft and targeting first objective at 15,500ft in 10 days • Recoverable resource potential of 3-4 MMBC / 60-80 BCFG • Operator, Clayton Williams Energy, Inc • Defined by 3D seismic, upthrown fau
Slide 13: Exploration – Grizzly (High Impact)
Exploration – Grizzly (High Impact) For personal use only SL 19965#1 well - (5.25% WI) • Well is presently at 9,700ft and targeting first objective at 11,100ft • Recoverable resource potential of 1-2 MMBC / 45-100 BCFG • Operator, Petrodome Operating, LLC • Defined by 3D seismic, upthrown fault boun
Slide 14: 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 mid in 1 to 2 months, • Operator, Walter Oil & Gas Corporation (La Posada partner) • Defined by 3D seismic, in a 3 way dip closure •
Slide 15: Exploration - West Klondike
Exploration - West Klondike For personal use only 10.5% WI • Well is due to spud mid December 2011 • Recoverable resource potential of 2-4.8 MMBC / 6-17 BCFG • Prolific productive sands, targeting 5 separate objectives • US$370,000 dry hole costs • Defined by 3D Seismic • Along trend from producing
Slide 16: Exploration – Leduc Reef
Exploration – Leduc Reef For personal use only 10.5% 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 17: 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 likely to be 600,000 to 800,000 bbls. • 300,000 to 400,000 Bbbls net to
Slide 18: High Level Summary
High Level Summary For personal use only o 100% 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 $6.8m (after paym
Slide 19: 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 20: Competent Persons Statement
For personal use only Investor Update 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 respe
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