Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Euroz conference 2016
24 slides from Carnarvon Energy's conference presentation, Nov 18, 2016
Slide 1: Euroz conference presentation
For personal use only Euroz conference presentation 17 November 2016
Slide 2: Disclaimer
Disclaimer For personal use only The Resource estimates outlined in this report have been prepared by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga has over 25 years’ experience in petroleum exploration and engineering. Mr Huizenga
Slide 3: Snapshot
Snapshot For personal use only Market value of CVN $115 million - Cash (30 Sept. 2016) $65 million = Enterprise value (“EV”) $50 million EV/2C value (FAR look through) $3.40/bbl = 2C barrels of 15 million Ocean Monarch drilling Roc-2 well 3
Slide 4: Snapshot
Snapshot For personal use only Market value of CVN $115 million - Cash (30 Sept. 2016) $65 million = Enterprise value $50 million EV/2C value (FAR look through) $3.40/bbl = 2C barrels of 15 million CVN barrels of oil equivalent…….mid case Already discovered 2C 22 million + Drilling now 21 million +
Slide 5: NWS portfolio of permits covering ~36,000km2
NWS portfolio of 12 permits covering ~36,000km2 For personal use only Roc / Phoenix project CVN 20 – 30% 5
Slide 6: Roc / Phoenix project – in the beginning
Roc / Phoenix project – in the beginning For personal use only 1980 Phoenix-1 well (BP) 1982 Phoenix-2 well (BP) 2009 Acquired 2012 Farm out • transferred equity • operational funding 6
Slide 7: Phoenix South-1 an important oil discovery
Phoenix South–1 an important oil discovery For personal use only 1980 Phoenix-1 well (BP) 1982 Phoenix-2 well (BP) 2014 Phoenix South-1 (oil) 7
Slide 8: Roc wells discover gas & condensate
Roc wells discover gas & condensate For personal use only 1980 Phoenix-1 well (BP) 1982 Phoenix-2 well (BP) 2014 Phoenix South-1 (oil) 2016 Roc-1 (gas / cond) 2016 Roc-2 (gas / cond) 8
Slide 9: Phoenix South-2 currently drilling
Phoenix South-2 currently drilling For personal use only 1980 Phoenix-1 well (BP) 1982 Phoenix-2 well (BP) 2014 Phoenix South-1 (oil) 2016 Roc-1 (gas / cond) 2016 Roc-2 (gas / cond) 2016 Phoenix Sth-2 (ogc) 9
Slide 10: Dorado is a large volume future target
Dorado is a large volume future target For personal use only 1980 Phoenix-1 well (BP) 1982 Phoenix-2 well (BP) 2014 Phoenix South-1 (oil) 2016 Roc-1 (gas / cond) 2016 Roc-2 (gas / cond) 2016 Phoenix Sth-2 n(ogc) ? Dorado-1 (gas / cond) 10
Slide 11: Enormous blue sky – near term focus
Enormous blue sky – near term focus For personal use only 1980 Phoenix-1 well (BP) 1982 Phoenix-2 well (BP) 2014 Phoenix South-1 (oil) 2016 Roc-1 (gas / cond) 2016 Roc-2 (gas / cond) 2016 Phoenix Sth-2 (ogc) ? Dorado-1 (gas / cond) 11
Slide 12: Roc-2 well result significant
Roc-2 well result significant For personal use only Significance of the flow test Meaning for the area • Confidence in the reservoir • Hub & spoke development • Flowed at commercial rates • Near term resource targets: • Phoenix South • Changed the industry dogma • Dorado • Roc & proximal structures
Slide 13: Hub and spoke
Hub and spoke For personal use only All volumes below are mmboe – net to Carnarvon – 2C or Pmean as applicable 250 8 200 150 7 100 6 5 50 4 3 2 1 0 Roc gas Phoeinx South oil Dorado gas Other gas & oil & gas 5 – Phoenix South Hove Pmean: 16.9 mmboe 1 – Roc Caley 2C: 15.6 mmboe 6 – Dorado Caley Pmean:
Slide 14: Hub and spoke
Hub and spoke For personal use only All volumes below are mmboe – net to Carnarvon – 2C or Pmean as applicable 250 200 150 100 Risked Boe¹ 50 Indicative MEFS² 0 Roc gas Phoeinx South oil Dorado gas Other gas & oil & gas ¹ - 2C of table 4, plus risked mmboe of table 5 and 6 in ASX announcement on 14/
Slide 15: Hub development concept
Hub development concept For personal use only Early and indicative development concept includes a wellhead platform, FPSO with processing facilities, condensate offtake and sales gas pipeline to shore near Port Hedland 15
Slide 16: LNG under supply – opportunity & pricing potential
LNG under supply – opportunity & pricing potential For personal use only 16
Slide 17: WA domestic gas field decline opportunity
WA domestic gas field decline opportunity For personal use only 17
Slide 18: WA domestic gas price forecasts
WA domestic gas price forecasts For personal use only WA DOMGAS shortfall F Appraisal FEED I Construction Production¹ D ¹ Indicative Roc / Phoenix area project schedule 18
Slide 19: Carnarvon portfolio (ex Phoenix & Roc permits)
For personal use only Carnarvon portfolio (ex Phoenix & Roc permits)
Slide 20: Portfolio snapshot
Portfolio snapshot For personal use only Buffalo CVN 100% WA-521-P Maracas CVN 100% CVN 100% Outtrim CVN 28.5% Cerberus CVN 100% 20
Slide 21: Carnarvon business – NWS capability
For personal use only Carnarvon business NWS capability
Slide 22: Strategy – NWS Oil & Gas
Strategy – NWS Oil & Gas For personal use only Geological concepts • Identify opportunities based on detailed regional technical work Technical value add • Acquire new data and or apply new technology Commercial rigor • Volume, market, risks, cost, value Collaborative partnerships • Partners with op
Slide 23: Questions
For personal use only 23 Questions
Slide 24: Think Different, Act Different
For personal use only Think Different Act Different 24