Corpus Resources Plc · LSE:COR
Corpus Resources — Curzon Energy — UK Investor Show 2018
16 slides from Corpus Resources's conference presentation, Apr 21, 2018
Slide 1: April 21st 2018, London with Curzon Energy
April 21st 2018, London with Curzon Energy
Slide 2: Important Notice
IMPORTANT NOTICE By attending this presentation and/or accepting these slides you agree to be bound by the following conditions It is not intended that the Presentation Materials be distributed or passed on, directly or indirectly, to anyone and will be taken as having represented and undertaken tha
Slide 3: Coos Bay Gas Field Operational Update
Thomas Wagenhofer Executive Director COOS BAY GAS FIELD Operational Update 21 April 2018
Slide 4: Curzon in Brief
CURZON IN BRIEF • LSE:CZN / IPO October 2017 / Market Cap appr. £7m • ASSET 100% Owner/Operator 1.0 TCF CBM Gas Field, OR, USA 273 BCF 2C Contingent Resources Acquired out of Bankruptcy with $37m Historic Spend • STATUS Initial 5-Well Workover Program Completed Well Testing Program Ongoing Assessing
Slide 5: US-CBM - An Established Industry
US-CBM - An Established Industry 1.2 TCF OF CBM GAS WAS COOS BAY PRODUCED IN THE USA IN 2015 (LATEST EIA DATA) Powder River Basin Central Appalachian Uinta Basin Basin BIG PLAYERS in CBM San Juan Basin Black Warrior Arkoma Basin Basin Good Deal Flow Major CBM Fields in US 2
Slide 6: Coos Bay Asset History
COOS BAY ASSET HISTORY 12” Coos • Historic Coal Mining Activity County PL 68 Mscf/d • Regional Pipeline built 2003 6 month test • $37m Historic Spend • 12 Wells on 3 Sites • Extensive Geologic Work • Extensive Infrastructure • Encouraging Tests • Samples show pipeline quality gas Beaver Hill and • 1
Slide 7: Phase I Update
Phase 1 - Update Sales Point • Initial program completed 16-16 • Testing Started January 2018 • Four Wells Producing 1-21 13-15 • 1-21 SI pending pump repair (68 Mscf/d test) • Pumps Running on Well Gas 9-21 • Excess Gas Flared 15-21 • Current Activities: • About to start well work • Water Disposal
Slide 8: Test Data – Early Days
Test Data – Early Days Increasing to 124 ft open perfs Currently 33 ft of open perfs 5
Slide 9: Test Data – Early Days
Test Data – Early Days Increasing to 162 ft open perfs Currently 21 ft of open perfs 6
Slide 10: Well 15-21 Flare Stack
Well 15-21 Flare Stack 7
Slide 11: Tests vs CPR Type Curves – Encouraging but too Early to Call
Tests vs CPR Type Curves – Encouraging but too Early to Call Type Curves from 2017 CPR Report 200 to 500 Mscf/d short term tests at Beaver and Radio Hill Sites Well 1-21 (after 6 months) Up to 68 Mscf/day long term test with increasing trend at Westport Site (100 Mscf/day peak rate) Note: Type Curve
Slide 12: Planned Well Work to Increase Gas Production
Planned Well Work to Increase Gas Production • Drill out Bridge Plugs to Allow Access to all Gas Bearing Zones • Add new Perforations and o Recomplete some Old ones p • 160 ft open today e • 331 ft to be added n • 491 ft total (+207%) • Test Conventional Gas Sands Plug • 310 ft to be added s h u t 9
Slide 13: Westport Gas Field Structural Cross-section
Kaas ela Westport Gas Field Structural Cross-section Previous and pending perforated Coals and Sandstones 4 = ba : = ‘2 === Coos Bay Area Active Wells & Gas Pi 7 ==: F Pe £ Zs | = rail ie-1 ne St [Westport Gas Field Structural Cross-section
Slide 14: Small Steps but Aiming Big
Small Steps but Aiming Big PHASE III (45,000 ACRES) PHASE II (5,200 ACRES) Westport Area Westport Beaver Hill 273 BCF 2C Resources Radio Hill AVERAGE WELL COST $350K 11
Slide 15: Summary
Summary • Wells “Waking Up” - Showing Strong Trend of Increased Gas Rates • REMINDER … most CBM Projects require Months of Water Production before Gas is being Produced … NOT THE CASE AT COOS BAY! • Excellent Results given only Half of Productive Pay Contributing • Additional Rate Increase Expected
Slide 16: Thank You for Listening
THANK YOU FOR LISTENING OUR TICKER IS “CZN”