Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (November 2014)
23 slides from Synergia Energy's investor presentation, November 2014
Slide 1: Value focused, Methodical delivery
Value focused Methodical delivery ASX / AIM: OEX November 2014
Slide 2: Important Information – Disclaimer
Important Information Disclaimer The presentation in this projected form and as verbally presented (Presentation) is provided on the basis that none of the Company Directors nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advi
Slide 3: Highlights: Foundations for value and growth
Highlights: Foundations for value and growth Oilex has a diversified oil and gas portfolio, is focused on countries adjacent to the Indian Ocean Rim having proven onshore hydrocarbon provinces. \ Strategy • Becoming a leading onshore “tight” oil and gas producer in India • Generation of sustainable
Slide 4: Company Profile: Oilex Ltd (ASX / AIM: OEX)
Company Profile: Oilex Ltd (ASX / AIM : OEX) ASX 12 month share price performance versus peers OEX.ASX AJQ.ASX BRU.ASX COE.ASX CTP.ASX DLS.ASX EGO.ASX TAP.ASX 430% 380% 330% 280% 230% 180% 130% 80% 30% Nov 13 Dec 13 Feb 14 Mar 14 Apr 14 May 14 Jun 14 Aug 14 Sep 14 Oct 14 Nov 14 Oilex is listed on AS
Slide 5: Transition: To sustainable production and cashflow
Transition: To sustainable production and cashflow Cambay, Bhandut, \ Indian Ocean Rim focus India 2005+ • Onshore – tight reservoir plays \ India • Cambay − 45% interest − 75MMboe net 2C resource • Bhandut − 40% interest • Production and cash flow Canning Basin \ Australia Western Australia 2013+ •
Slide 6: Oilex in India: A compelling proposition
Oilex in India: A compelling proposition \ Large, discovered, independently certified resource base • Proven petroleum system - 38 wells penetrated the Eocene formation (X & Y) • Directly applying US technology \ Premium gas market, domestic price ~US$8.00/Mscf • Imported LNG is primary competition
Slide 7: India: Background
India: Background \ Entered India 2005 • Operator for Cambay and other PSC’s \ Gujarat State Petroleum Corporation Ltd (GSPC) • Major partner • 55% to 60% equity \ From entry to ~2010 • 3D seismic survey acquired India gas demand outstrips supply • 7 conventional wells drilled 800 713 • Numerous wor
Slide 8: Cambay: Highlights
Cambay: Highlights \ Field resource ~ 167MM Boe • Independently Certified 2C by NSAI • 50% liquids, 50% gas Cambay Field \ Acreage • Cambay Basin: large oil province • Cambay Field: 161 km² (40,000 acres) • Multiple productive reservoirs \ Commercial Environment • Significant gas demand within 15km
Slide 9: Cambay: Proven oil and gas
Cambay: Proven oil and gas \ Geology proven to deliver Cambay-11 Y – flowed trace oil and gas Cambay-76H Cambay-63 • 2,800m of prospective Cambay-05 X – 0.20 MMscfgd + 157 bcpd Y – produced little oil section Y – 4.1 MMscfgd + 170 bcpd Cambay-20 • 38 wells penetrated the Cambay-77H Y – 3.8 MMscfgd +
Slide 10: Cambay-77H: Operational performance
Cambay-77H: Operational performance \ Well Design • 350m horizontal lateral • 4 stages x 2 fractures per stage • Plug and perf completion \ Schedule • Spud to TD ~19 days* • Production completion ~ 6 days • Total rig days ~ 49 days • Fracture stimulation ~ 14 days* \ Clean-up • Milling operations su
Slide 11: Cambay-77H: Proof of concept achieved
Cambay-77H: Proof of concept achieved \ Drilling operations • Efficient drilling operations • Repeatability of directional drilling capability \ Y zone reservoir • Hydrocarbon saturated and no free water • Properties are laterally consistent \ Fracture treatments • Successfully perforated, isolated
Slide 12: Cambay Comparison: Range Resources
Cambay Comparison: Range Resources (NYSE: RRC) \ The experience of others helps shorten the learning curve at Cambay Field \ The progress at Cambay compares favourably to other experiences in a new basin \ Range Resources Corporation ((NYSE: RRC) “Range Resources”) was an early mover in the Marcellu
Slide 13: Cambay: Substantial upside in four deeper zones
Cambay: Substantial upside in four deeper zones \ Additional potential independently assessed by NSAI \ Undiscovered P50 gross in-place volumes • Gas: 12.6 Tcf • Liquids: 11,592 MMbbls \ Unrisked P50 gross prospective resources • Gas: 934 BCF • Liquids: 140 MMbbls • Certified by NSAI Cambay Field cr
Slide 14: Cambay: Independent resource estimate (NSAI)
Cambay: Independent resource estimate (NSAI) Unrisked Contingent Resource Estimates (near term production and cash) Low (1C) Best (2C) High (3C) Oil MMstb Gas BCF Oil Gas Oil MMstb Gas BCF MMstb BCF Gross in place 831 672 1,633 1,314 2,888 2,297 Gross recoverable 31 180 83 495 179 1,073 Net OEX rec.
Slide 15: India: Cash neutral operations leading to profitability
India: Cash neutral operations leading to profitability \ Current Cambay activities • Delivery of Cambay-77H • Cambay-73 gas sales agreement approved • Application to sell Cambay-77H gas submitted \ Future Cambay activities • Enhance oil production from legacy wells • Workover Cambay-72 • Restart Ca
Slide 16: Australia: Canning Basin background
Australia: Canning Basin background \ Strategic rationale: • Low-cost entry, concentrated prospectivity Canning Basin • Long-term growth potential and diversity \ Canning Basin acreage (4.4 million acres) • SPA 17 AO ~ 2.8 million acres • STP-EPA-0106 ~ 700,000 acres • STP-EPA-0107 ~ 900,000 acres •
Slide 17: Western Australia: A global resource centre
Western Australia: A global resource centre 17 @oilexltd
Slide 18: Canning Basin: Wallal Graben revealed by seismic
Canning Basin: Wallal Graben revealed by seismic \ Jump correlations with regional seismic data infer • A near-complete Ordovician sequence is preserved L12-08 STP-EPA-0106 • Possible thick Goldwyer Formation - primary source rock STP-EPA-0107 L12-09 • Potential for additional organic-rich formation
Slide 19: Wallal Graben: New gravity survey proves the story
Wallal Graben: New gravity survey proves the story \ Conducive to efficient exploration • ~15km wide • ~200km long within Oilex areas \ Prospectivity • Conventional and unconventional • Leads and prospects being compiled • Drilling in 2017 \ Infrastructure • Near ports • Proximal to large gas consum
Slide 20: Oilex: Investment opportunity
Oilex: Investment opportunity \ India – Strategic focus • Production, cash flow and reserves to increase • Production up ~ 257% from last quarter • Targeting cash neutral operations in 2015 \ Cambay operations • Multi-well drilling campaign in 2015 • Longer horizontals & target reduced costs • Comme
Slide 21: Company Profile: Board and Management Team
Company Profile: Board and Management Team Max Cozijn Pete Bekkers Appointed as Non- Appointed Chief Executive Chairman Geoscientist in 2007 in 2003. Over 32 more than 17 years years experience in experience. administration of listed companies Sundeep Ron Miller Chris Bath Bhandari Appointed as Mana
Slide 22: Cambay: Cambay-77H progress
Cambay: Cambay-77H progress Rig Mobilisation Spudding Drilling Fracking Milling Testing 22 @oilexltd
Slide 23: www.oilex.com.au
www.oilex.com.au Phone: +61 8 9485 3200 Email: oilex@oilex.com.au Twitter: @oilexltd LinkedIn