Prominence Energy Limited · ASX:PRM
Prominence Energy — Investor Presentation (August 2021)
14 slides from Prominence Energy's investor presentation, Aug 3, 2021
Slide 1: Investor Presentation
Investor Presentation Alex Parks Managing Director 3 August 2021
Slide 2: Important Information - Disclaimer
IMPORTANT INFORMATION - DISCLAIMER This presentation has been prepared by Prominence Energy Ltd (“Prominence”) for the purpose of providing a company and technical overview to interested parties to enable recipients to review the business activities of Prominence. This presentation is limited in sco
Slide 3: Executive Summary
EXECUTIVE SUMMARY Bowsprit Oil Project (PRM 100%) ▪ Prominence has 100% Working Interest in 1,154 acres leased in the Breton Sound Area, inland shallow waters offshore Louisiana, 70km southeast of New Orleans, an area that has produced >1.2billion barrels ▪ Drilling Bowsprit-1 Appraisal Well in Augu
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT Capital Structure: As at 30 July 2021 12 month Share Price History: As at a 30 July 2021 ASX code PRM Ordinary shares on issue as at 10 June 2021 926m PRM Low – $0.005 Listed options PRMOB (A$0.02) exp. 1 Sept High – $0.021 372m 2023 Director Performance Rights 17m Share price as
Slide 5: Prominence Management & Board
PROMINENCE MANAGEMENT & BOARD Alex Parks Anna Mackintosh Ian McCubbing Troy Hayden Managing Director CFO/Co Sec Chairman NED Director NED ▪ Petroleum Engineer with over ▪ Chartered Accountant ▪ Director & Chartered ▪ 27 years experience in Oil 20 years in oil and gas FCA, and Co Sec with Accountant
Slide 6: Bowsprit Location, Louisiana
BOWSPRIT LOCATION, LOUISIANA Prolific Hydrocarbon Province ▪ St Bernard & Plaquemines Parishes (Red Oval) have produced 1.2billion bbls of oil and 5.2Tcf of gas since 1978 ▪ Favourable sedimentary circumstances combine with a variety of structures to provide excellent conditions for accumulation ▪ M
Slide 7: Bowsprit Project, Louisiana
BOWSPRIT PROJECT, LOUISIANA Prominence’s Bowsprit Project ▪ The lease area contains several historical fields, including an undeveloped oilfield in 3m of water, located in inland waters Louisiana, approximately 70km southeast of New Orleans. ▪ Leases overlie a field first developed by Shell in the 1
Slide 8: NSAI Resource Summary (February 2020)
NSAI RESOURCE SUMMARY (February 2020) Netherland Sewell & Associates, Inc (NSAI) have provided a Reserves Report for Bowsprit as at 31 December 2019. The Reserves Estimates were prepared using a combination of Probabilistic and Deterministic Methods. CAPEX for Net Cash Flow Resource Classification C
Slide 9: Bowsprit-1 Well Path - Main Target
BOWSPRIT-1 WELL PATH - MAIN TARGET NW SE Vertical Appraisal well in Q3 2021 T1 T2 Deterministic Prominence STOIIP estimates associated with maps used in well planning T3 Copyright (c) by Prominence Energy Ltd. All Rights Reserved. 9
Slide 10: Prominence's Probabilistic Oil Initially in Place
PROMINENCE’S PROBABALISTIC OIL INITALLY IN PLACE Cross Section T1 area was discovered in 1960’s when drilling deeper gas field. T2 area is undrilled PRM plans T2 ▪ Q3 2021 vertical well to appraise T2 undrilled area T1 ▪ Q4 2021 (contingent) re-entry and side track to proven T1 development oil area
Slide 11: Bowsprit-1 Well Path – Secondary Targets
BOWSPRIT-1 WELL PATH – SECONDARY TARGETS NW SE Depth ft T2 T1 I T3 II III IV Sand Chance of Comments Success V I. Fair “Big-2” – sandy VI II. Low 7,200 probably wet- due to sand on sand fault juxtaposition III. Low Probably pinched out VII IV. (T2) Good Thick high quality sand up dip from known oil
Slide 12: Low Cost Development Options (Tie-back or New Build)
LOW COST DEVELOPMENT OPTIONS (TIE-BACK OR NEW BUILD) Shallow-draft barge drilling rig Suspended well with protection cage Typical production facility (tie-back or new build) Local Production facility Typical well head with walkway to facilities Tie-back options Copyright (c) by Prominence Energy Ltd
Slide 13: Program / News Flow
PROGRAM/ NEWS FLOW Completed ✓ EGM to approve Tranche 2 of placement - funded for well July 2021 ✓ Drilling Management Company Appointed ✓ Parker Rig 55B Rig Contracted Drilling Vertical Appraisal Well ___ August 2021 ▪ Complete Pinnacle buy out ▪ Rig mobilisation ~15th August 2021 ▪ Appraisal hole
Slide 14: For further Information
ABN 69 009 196 810 Level 2, 30 Richardson Street, West Perth WA 6005 Telephone: +61 8 9321 9886 Facsimile: +61 8 9321 8161 Email: admin@ProminenceEnergy.com.au Website: www.ProminenceEnergy.com.au For further Information Media and Investor Enquiries Mr Alex Parks (Managing Director and CEO) Email: a
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