Carnarvon Energy Limited · ASX:CVN

Carnarvon Energy — Carnarvon Petroleum — 2013 APPEX Conference

27 slides from Carnarvon Energy's conference presentation, Mar 6, 2013

  1. Slide 1: Technical Presentation L52/50 & L53/50 Thailand

    Technical Presentation L52/50 & L53/50 Thailand 6 March 2013 For personal use only ASX ANNOUNCEMENT Carnarvon Petroleum Limited (“Carnarvon”) (ASX:CVN) is pleased to provide shareholders with the attached Technical Presentation given by Dr. Stephen Molyneux, Carnarvon’s Exploration Manager at the 20

  2. Slide 2: Offshore Thailand potential onshore – Khian Sa Basin

    Offshore Thailand potential onshore – Khian Sa Basin For personal use only Low cost onshore work program to access up to 100 mmbbls recoverable prospects

  3. Slide 3: Disclaimer

    For personal use only Disclaimer The information in this document, that relates to oil exploration results and reserves, is based on information compiled by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga consents to the inclusion of

  4. Slide 4: L52/50 & 53/50: The Opportunity

    L52/50 & 53/50: The Opportunity For personal use only  Only two wells drilled in an under-explored onshore basin  Multi-target leads already identified, analogous to producing Permian carbonate fields in the Chumphon Basin and surrounded by producing Western Gulf of Thailand Blocks  Rapid commerc

  5. Slide 5: Location, Summary

    Location, Summary For personal use only  Awarded 25th February, 2010 with Mubadala(op)/Carnarvon 50:50  Total 6,922km2  L52/50 = 3,067km2  L53/50 = 3,855km2  Carnarvon 100% equity since December 2012 4

  6. Slide 6: Tectonic setting

    Tectonic setting For personal use only 2006 Oligocene = syn rift Mid Miocene onwards - Less subsidence - Mergui rift phase 5

  7. Slide 7: Surrounded by productive basins

    Surrounded by productive basins For personal use only Salamander 7th January 2013 Macquarie Oil Explorers Conference Tertiary basins Fields Salamander 2012 FIELDS Bualuang: 45 mmbo 2P ; Bua Ban: 60 mmbo 2P; Songkhla: 12 mmbo 2P; Manora: 24 mmbo 2P; Jasmine 35 mmbo+ 2P; Nang Nuan: 100 mmbo STOIIP/pro

  8. Slide 8: Offshore Oligo-Miocene clastic play – fault bounded

    Offshore Oligo-Miocene clastic play – fault bounded For personal use only Downthrown fault play Salamander 2013 7

  9. Slide 9: Is L52/50 and 53/50 an overlooked Western Thailand basin?

    Is L52/50 and 53/50 an overlooked Western Thailand basin? For personal use only • Offshore there are 3D’s • Onshore L52/53 has 2-3 km spacing 2D Salamander 2012 8

  10. Slide 10: Overlay L52/50 and 53/50 seismic grid

    Overlay L52/50 and 53/50 seismic grid of 2 x 2km For personal use only 2km Coastal 2012 9

  11. Slide 11: Pattani vs Western Gulf of Thailand basin stratigraphy

    Pattani vs Western Gulf of Thailand basin stratigraphy For personal use only Pattani Thick post rift Western Gulf of Thailand Thin post rift Morley 2006 10

  12. Slide 12: Chumphon Basin Analogy

    Chumphon Basin Analogy Northern Chumphon Basin Schematic For personal use only Nang Nuan B-01 Chumphon Basin: Nang Nuan Oil field  Offshore and immediately north of L52/50, L52/53  “buried hill” karstic/hydrothermal reservoir  produces from karst Permian limestone reservoir (?Pre-Rift)  Single w

  13. Slide 13: Mergui Basin Analogy

    Mergui Basin Analogy For personal use only Miocene Limestone capped Horsts Racey 2011 12

  14. Slide 14: Exploration

    Exploration For personal use only Previous operators: prospect prospect  393km vintage seismic data acquired Gopher Oil in 1987-1988  Two exploration wells drilled within L52/50 and L53/50 by Gopher Oil in 1988 prospect  Phun Phin 1 (TD @ 6800’) prospect  Khian Sa 1 (TD @ 8000’)  Four CBM wells

  15. Slide 15: Proposed and previous seismic lines

    Proposed and previous seismic lines For personal use only Permian Carbonates, Triassic, Granite Jurassic, Cretaceous - Reservoirs - >2% TOC 50km 14

  16. Slide 16: Mesozoic Source Rocks

    Mesozoic Source Rocks For personal use only Oil seep in south of permit discovered by DMF? / Racey et.al. 1997 15

  17. Slide 17: Analyses from Outcrop samples

    Analyses from Outcrop samples For personal use only Oil stain in Cretaceous LST  Mesozoic has Vr of 0.7-1 at outcrop  buried in subsurface could easily be a generating source rock  Racey et.al., 1997; oil/bitumen in Cretaceous 16

  18. Slide 18: Khian Sa 1 Well

    17 Early Miocene - Oligocene Permian Carbonates? No gas logs run Khian Sa 1 Well For personal use only

  19. Slide 19: Phun Phin Well

    Phun Phin 1 Well No gas logs run For personal use only Early Miocene - Oligocene 18

  20. Slide 20: Maturity + Source

    Maturity + Source For personal use only  180 sqkm within oil window Maximum depth 14,500’  6500’ top of oil window  11500’ base of oil window Corelabs 6500’ top of oil window – 0.5 Ro% 19 11500’ base of oil window – 1.1 Ro%

  21. Slide 21: Tha Chana – Carnarvon (Permian)

    Tha Chana – Carnarvon (Permian) For personal use only STOIIP(Recoverable)mmbls P90 P50 P10 0.4 (0.1) 7.5 (1.4) 118 (26) Prospect Ta Chana P90 P10 Area (sqkm) 0.75 15.25 Res thick(m) 150 1000 Crest 3250ft (990m) Net:Gross 1 25 P90 3750’(1143m) 4 way porosity 1 30 So 50 80 Bo 1.05 1.2 P10 8000’(2438m)

  22. Slide 22: Tha Chana – Carnarvon (Tertiary)

    Tha Chana – Carnarvon (Tertiary) For personal use only STOIIP(Recoverable)mmbls P90 P50 Pmean P10 14(3) 111(27) 258(68) 624(167) Prospect Ta Chana P90 P10 Area (sqkm) 0.75 15.25 Res thick(m) 5 25 Crest 3250ft (990m) Stacked sands 2 15 P90 3750’(1143m) 4 way Net:Gross 25 75 porosity 15 28 So 50 80 P1

  23. Slide 23: Tha Chana prospect line POPL11-02

    Tha Chana prospect line POPL11-02 For personal use only 22

  24. Slide 24: Fiscal Regime Summary – Thai III

    Fiscal Regime Summary – Thai III For personal use only Government’s Take:  Royalty  Sliding scale rates from 5-15% on gross revenue, based on production  Petroleum Income Tax 50%  Special Remuneration Benefit (SRB)  Progressive rate from 0-75% on “Windfall Profit” (at about 5000 bopd) Expense b

  25. Slide 25: Project Economics

    Project Economics Permian/Miocene Carbonates Tertiary Clastics For personal use only Based on nearby Chumphon Basin Based on CVN experience from onshore  65-200 m reservoir packages producing fields  17% porosity  5-25 m sand packages  500-2000 mD perm  15-28% porosity  Normally pressured  5-

  26. Slide 26: 2013 – Prove a Petroleum System

    2013 – Prove a Petroleum System For personal use only 1) Improve trap definition - Optional Aero grav/mag survey May 2013 - Optional mini vibe prospect area survey - Optional GORE survey May 2013 2) Wells planned for December 2013 4000 feet – est USD 2.8 mm each 6000 feet – est USD 3.25 mm each Coul

  27. Slide 27: L52/50 & 53/50: The Opportunity

    L52/50 & 53/50: The Opportunity For personal use only  Only two wells drilled in an under-explored onshore basin  Multi-target leads already identified, analogous to producing Permian carbonate fields in the Chumphon Basin and Tertiary producing oilfields in the Western Gulf of Thailand Blocks  R

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