Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Shareholder Meeting (November 2023)
16 slides from Pancontinental Energy Nl's shareholder meeting presentation, Nov 27, 2023
Slide 1: Presentation to Annual General Meeting of Shareholders
For personal use only Presentation to Annual General Meeting of Shareholders 27 November 2023 ASX: PCL
Slide 2: Disclaimer
Disclaimer For personal use only These materials do not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securities, nor shall any part of these materials or fact of
Slide 3: The Past 12 Months
The Past 12 Months 1 Received Ministry approval for 12 month extension of PEL 87 permit For personal use only 2 Option Deed with Woodside Energy Ltd ($60 Billion market capitalisation) 3 Acquired ~6,600km2 3D seismic survey, Woodside investment of over US$35 million 4 Continued exploration, appraisa
Slide 4: A Rich Hunting Ground
A Rich Hunting Ground • Namibian Orange Basin is the global exploration hotspot as For personal use only a result of giant discoveries by Shell and TotalEnergies through 2022/23 • West African basins exhibit analogous geology to the prolific petroleum basins of offshore Brazil • Early Cretaceous ope
Slide 5: Pancontinental's PEL 87
Pancontinental’s PEL 87 • Permit awarded 2018 to Joint Venture led by PCL For personal use only • Pancon 75% (Operator) • 10,970 km2 within Namibian Orange Basin • Offers very significant resource potential within reservoirs of comparable age and type to recent giant discoveries on-trend to the sout
Slide 6: Major Investment by Woodside Energy
Major Investment by Woodside Energy • Woodside has earned an option to acquire a 56% Participating Interest in PEL 87 For personal use only • Woodside fully funded a US$35million+ 3D seismic survey Stage • If Woodside exercises the option then Woodside and PCL will enter 1 into a farmout agreement.
Slide 7: Namibian Orange Basin
Namibian Orange Basin • Water depths 200 metres to >3,000 metres For personal use only • Basin developed through Jurassic-Cretaceous Saturn • Two main contributing factors to prospectivity: PCL PEL 87 Moosehead-1 • Thick, very high quality and regionally extensive Kudu oil shale source rock Chevron
Slide 8: Giant Discoveries On Trend
Giant Discoveries On Trend • TotalEnergies’ Venus oil discovery early 2022, estimated ~3 billion barrels oil recoverable For personal use only • Venus was followed by Shell’s Graff discovery, estimated ~2 billion barrels Saturn oil-in-place • Both Venus-1X, Venus-1A and Graff-1X have been production
Slide 9: Turbidite Reservoir Development
Turbidite Reservoir Development • Delivery mechanism for reservoir sands from major river systems into a deep water setting – where For personal use only organic rich source formations are typically found • Delivered via submarine density flows, from discrete point-source at continental shelf break;
Slide 10: Namibian Turbidite Systems - Seismic Examples
Namibian Turbidite Systems - Seismic Examples For personal use only Walvis Basin Examples. Source: https://www.eliis-geo.com/south-atlantic-austral-segment-the-new-exploration-hotspot-a.html PANCONTINENTAL ENERGY NL 10
Slide 11: The Kudu Shale
The Kudu Shale • Kudu Shale was deposited across vast area For personal use only during early stages of Atlantic margin opening during Late Barremian-Aptian • Limited marine influence led to restricted, anoxic conditions – ideal for source rock deposition • High Total Organic Content – up to 14% • T
Slide 12: Saturn Turbidite Complex
Saturn Turbidite Complex W E • Saturn interpreted to cover ~ 4,000 km2 For personal use only with a core area of 2,400 km2 oor • Same stratigraphic level as Venus Seafl discovery and shares the same source and sealing formations • Exhibits apparent counter-regional dip – a key contributing factor to
Slide 13: Moosehead-1X Well
Moosehead-1X Well N Moosehead-1X S • Drilled by Brazilian Co. HRT in 2013 For personal use only Seafloor • Targeted huge carbonate structure of Barremian age; encountered tight reservoir • Intersected mudstones at Saturn level – as expected in a distal location • Encountered thick top sealing format
Slide 14: 3D Seismic Survey
3D Seismic Survey • Woodside-funded 3D seismic survey completed over most For personal use only prospective portion of PEL 87 • Originally ~5,000 km2 at cost of US$35 million; subsequently increased by Woodside to 6,593 km2 (no modification to Option Deed terms) • Survey completed late May 2023 with
Slide 15: Africa's Largest Prospective Oil Target?
Africa’s Largest Prospective Oil Target? The recent major discoveries in Namibian Orange Basin highlight PEL 87’s potential for hosting a world-class oil discovery. The scale For personal use only and resource potential is considered by PCL to be comparable to giant turbidite-associated discoveries
Slide 16: Thank you
For personal use only Thank you Level 2 30 Richardson St West Perth WA 6005 T: +61 8 6363 7090 pancon.com.au Authorised for release to ASX by the Board of Pancontinental Energy NL.
Pancontinental Energy NL — Shareholder Meeting (November 2023) on 6ix