Elixir Energy Limited · ASX:EXR
Elixir Energy — Elixir Petroleum — Non-Deal Roadshow (March 2008)
24 slides from Elixir Energy's roadshow presentation, Mar 17, 2008
Slide 1: ASX Release: Company Update Presentation
ASX RELEASE For personal use only 17 March, 2008 COMPANY UPDATE PRESENTATION Elixir Petroleum Limited is pleased to attach a copy of a company update presentation that will be delivered by management of the Company to existing shareholders and new investors as part of a roadshow being conducted in P
Slide 2: Company Update Presentation March 2008
For personal use only 2008 Company Update Presentation March 2008
Slide 3: Corporate Profile
Corporate Profile For personal use only • Elixir Petroleum is an international E & P company with a pan-Atlantic focus • Elixir holds a diversified portfolio of offshore oil and gas interests across the exploration, appraisal, development and production spectrum • Current areas of interest include:
Slide 4: Corporate Profile (cont'd)
Corporate Profile (cont’d) For personal use only Board & Executive Management Issued Share Capital Jon Stewart Exchanges: ASX (Ticker:EXR) Chairman AIM (Ticker:ELP) Andrew Ross Managing Director Ordinary shares: 161.1m Iain Knott Options @ 90c: 0.5m (expiry 5/08) Exploration Director @ 60c: 0.6m (ex
Slide 5: Recent Achievements
Recent Achievements For personal use only Completion of merger with Gawler Resources New Chairman and MD - management team also strengthened High Island Project - successfully drilled, developed and on production Pompano Project – first well on production March 08, second well approaching TD Leopard
Slide 6: Business Plan
Business Plan For personal use only • Development and Production – – Gulf of Mexico focus – Shallow water (<200m), lower risk, 3D coverage, close to infrastructure, short cycle time to production and cashflow, non-operated interests – Currently a prospect taker, seeking near term drill opportunities
Slide 7: Business Plan (cont'd)
Business Plan (cont’d) For personal use only Asset Life Cycle Europe / West Africa Gulf of Mexico Fat Cat SL-4 High Bob Cat Leopard Mulle Pompano Island Exploration Discovery Appraisal Development Production Abandonment • A balanced portfolio across asset life cycle – more highly regarded by market
Slide 8: Development and Production
Development and Production For personal use only 7
Slide 9: High Island Development (EXR: 30% WI)
High Island Development (EXR: 30%WI) For personal use only • Gas and condensate development located 65kms offshore Texas Gulf Coast in 51m water depth • Field development consists of two deviated wells, an unmanned well head platform and 5km pipeline to regional processing facility • Each well inter
Slide 10: High Island Development (cont'd)
High Island Development (cont’d) For personal use only • Current reservoirs will produce for another 12 -18 months, then swap to shallower PDNP horizons • Further sidetrack opportunities to be drilled once existing producing reservoirs are depleted • Current net sales revenue to Elixir of approx US$
Slide 11: Pompano Development (EXR: 25% WI)
Pompano Development (EXR: 25% WI) For personal use only • Gas re-development project located 7km offshore Texas Gulf Coast in 18m water depth • Pompano field originally developed on 2D seismic and produced 120 Bcf of gas (1966 – 2003) • Re-interpretation of 3D seismic has identified undrained, up-di
Slide 12: Pompano Development (cont'd)
Pompano Development (cont’d) For personal use only • Well #1 spudded mid-January 2008 and intersected three pay zones as prognosed • Well #1 was flow tested, completed and placed on production in mid-March • Initial expected flow rates from Well #1 of approx 6 - 7MMscf of gas/day • Well #2 currently
Slide 13: Exploration
Exploration For personal use only UK North Sea Offshore, Sierra Leone 12
Slide 14: Northern UK North Sea
Northern UK North Sea For personal use only Elixir Petroleum Interests Northern North Sea 211/22b 40% 211/18b (operator) 56% 211/18b NNS 211/22b
Slide 15: Northern North Sea - A Core Focus Area
Northern North Sea - A Core Focus Area For personal use only • Block 211/18b (Leopard Prospect) – – Primary play stratigraphic synrift Upper Jurassic sands – Tied-in to Norwegian Borg analogue with 2006 long A offset seismic lines – Resource potential of 350+ MMbbls – Prospect partially farmed-out (
Slide 16: Central UK North Sea
Central UK North Sea For personal use only Elixir Petroleum Interests Central North Sea 15/13b 13/25 12.5% 15/13b 13.1% 21/4b 7% 21/16b (operator) 40% 21/4b 13/25 CNS 21/16b
Slide 17: Central North Sea – Active Farmouts
Central North Sea – Active Farmouts For personal use only • Block 21/16b (Bob Cat Prospect) – 24th Licencing Round promote licence in Prospect F2 north west Central Graben area Prospect F1 – 5 mapped prospects and 1 lead with mean total reserves of 70+Mmbbls – Close to existing fields and infrastruc
Slide 18: Sierra Leone (EXR: 35%*, Operator)
Sierra Leone (EXR: 35%*, Operator) For personal use only • Elixir has acquired a 35%* interest in and operatorship of the highly prospective Block SL-4 offshore Sierra Leone • SL-4 covers 4,429 sq kms with water depths ranging from 100m to over 3,000m • Interest acquired on unpromoted, ground floor
Slide 19: Sierra Leone (cont'd)
Sierra Leone (cont’d) For personal use only Sierra Leone Prospect size vs Water Depth • A wide spaced 2D data set was acquired Recoverable Oil (mmbbls) over the Block in 2003 1 10 100 1000 10000 0 • A number of mapped leads and play 500 4a 6a types have been identified from 2D 10a 1a 10a 1000 8a • I
Slide 20: Year Ahead – Existing Portfolio
Year Ahead – Existing Portfolio For personal use only US Gulf of Mexico • Continuing production from High Island, growing production from Pompano • Phase 2 drilling at Pompano of up to 4 new wells • Acquisition of interest in a further development project UK Continental Shelf – North Sea • 2H 08 dri
Slide 21: Summary
Summary For personal use only • Growth in capitalisation will depend on – – Equity market conditions – Commodity pricing – Pace of prospect generation, and – Drilling success, But mainly success through the drill bit • Our growth will be determined by various factors within our control – - Internal
Slide 22: Conclusion
Conclusion For personal use only • Elixir has - – Sound business model, which it is aggressively pursuing – Existing reserves, production and cash flow – Scheduled drilling activity – A proven team of upstream professionals, which is steadily growing – Rapid cycle time from development to sales in G
Slide 23: For personal use only
For personal use only www.elixirpetroleum.com
Slide 24: Disclaimer
For personal use only This presentation has been prepared by Elixir Petroleum Limited (ABN 51 108 230 995) (“Elixir”) based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinion