Slide 1: ASX Announcement: Company Presentation Material
ASX ANNOUNCEMENT For personal use only ABN 51 108 230 995 16 September 2011 Company Announcements Platform Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 By E-Lodgement COMPANY PRESENTATION MATERIAL Please find attached to this document a copy of the presentation slides to b
Slide 2: Moselle Permit Independent In-Place Volumetric Assessment
Moselle Permit Independent In-Place Volumetric Assessment For personal use only 16 September 2011 Andrew Ross Managing Director (ASX:EXR)
Slide 3: Important Notice and Disclaimer
Important Notice and Disclaimer For personal use only This document has been prepared by Elixir Petroleum Limited (ABN 51 108 230 995) (“Elixir”) in connection with providing an overview of its business to interested analysts/investors. This presentation is being provided for the sole purpose of pro
Slide 4: Overview
Overview For personal use only • Internationally focused oil and gas company with interests in conventional and unconventional exploration and production assets • Current geographic areas of activity are: ► Development and Production from shallow shelf Gulf of Mexico ► Exploration and Appraisal acti
Slide 5: Corporate Profile
Corporate Profile For personal use only Capital Structure at 9 Sep 2011 2% Aurora 12.7% Exchange ASX:EXR Insto 70.8% Ordinary Shares 188.9m 16.5% Retail Unlisted Options (held by staff) 6.0m Directors No of Shareholders 1,450 Top 20 Shareholders 52.9% Trading Performance at 9 Sep 2011 Trading Range
Slide 6: Moselle Permit Overview
Moselle Permit Overview For personal use only Location Onshore, NE France Area 5,360 km2 1,340,000 acres Ownership 100% European Gas Term 5 years Lundin & GDF Expiry Feb 2014 Vermillion Extensions Yes, 2 x 5 years 2D Seismic ~2,500km Gali Coz & Tethys Oil Wells on Block 24 Oil and/or gas shows 46% P
Slide 7: Conventional Resources
For personal use only CONVENTIONAL RESOURCES 6
Slide 8: Conventional Geological Characterisation
Moselle – Conventional Geological Characterisation For personal use only • Conventional hydrocarbon exploration and production in Paris Basin for >60 years Over 275MMBbls of oil and 120Bcf of gas produced from Basin Small oil field produced in Moselle Permit area in 1980’s Large Triassic gas field o
Slide 9: Conventional NSAI Estimate
Moselle - Conventional NSAI Estimate For personal use only • Total of 19 conventional prospects and leads mapped Located within 4 main reservoir units in Triassic and Upper Carboniferous Section Mainly 4 way dip closed structural traps • Three multi-horizon prospect groups identified – each can be i
Slide 10: Conventional Forward Programme
Moselle – Conventional Forward Programme For personal use only • Prospects are considered ‘drill ready’ Three wells could investigate +70% of the Mean in-place oil/gas volume Drilling costs modest for onshore, relatively shallow targets • 2D seismic covers only ~35% of the Permit Prospectivity in ba
Slide 11: Unconventional Resources
For personal use only UNCONVENTIONAL RESOURCES 10
Slide 12: Unconventional Geological Cross Section
Moselle – Unconventional Geological Cross Section For personal use only • The thermal maturity windows allow oil, condensate and dry gas to be present • Hydrocarbon generation continues at the present time 11
Slide 13: Unconventional NSAI Estimate
Moselle – Unconventional NSAI Estimate For personal use only • Significant total in-place undiscovered hydrocarbon estimate provided by NSAI – 164.7 BBbls of oil and 649.7 Tcf of gas (P50, unrisked) • Small quantities of gas have already been produced to surface from the Carboniferous Section from t
Slide 14: Unconventional Analogous to Piceance Basin
Moselle – Unconventional Analogous to Piceance Basin For personal use only Reservoir Moselle Permit Piceance Basin Properties Paris Basin, France Colorado, USA Age Paleozoic (Carboniferous) Mesozoic (Cretaceous) Deposition Fluvial and lacustrine Fluvial and lacustrine Source Interbedded gas-prone sh
Slide 15: Unconventional Forward Programme
Moselle – Unconventional Forward Programme For personal use only • Likelihood of substantial liquids rich gas adds to the economics of the play • Additional data required to prove up unconventional play - Fluid types, net to gross, pressure, fracture orientation, rock mechanics etc • Cannot currentl
Slide 16: Commercial and Valuation
For personal use only COMMERCIAL AND VALUATION 15
Slide 17: France Market
France Market For personal use only • Strong market fundamentals • Established Oil and Gas industry - Underexplored and neglected in recent years Multiple plays Innovation and technology stimulating activity • Robust historic gas prices – Gas prices linked to crude oil – term contracts Significantly
Slide 18: France Infrastructure
France Infrastructure For personal use only • Gas pipeline infrastructure and gas markets well developed • Existing transport and refining capacity for new discoveries • Onshore cost base means even small discoveries likely to be commercially viable Moselle Permit ___ Gas Pipeline ___ Oil Pipeline _
Slide 19: France Regulatory Position
France Regulatory Position For personal use only • July 2011 French Parliament passed law which now prohibits “hydraulic fracture stimulation of wells following drilling” • Legislation was strongly debated and only narrowly adopted • National Commission established to consider advances in fracing pr
Slide 20: Europe Unconventional Players
Europe Unconventional Players For personal use only • The Majors and Independents are back in Europe pursuing unconventional resources Name Target Country ExxonMobil Tight and shale gas Germany, Poland OMV Shale Gas Austria ConocoPhillips Shale Gas Poland, France Royal Dutch Shell Tight Gas, Shale O
Slide 21: Valuation: Comparable Transactions
Valuation Comparable Transactions For personal use only • A&D activity ongoing despite period of regulatory uncertainty in France Jul 2011 - ConocoPhillips into Realm Energy Paris Basin applications – $[undisclosed] Aug 2011 - Realm Energy takeover by San Leon - $140m Jul 2011 - Sterling Resources,
Slide 22: Summary
For personal use only SUMMARY 21
Slide 23: Investment Highlights
Moselle Investment Highlights For personal use only Land holding is key - world scale acreage position Largest net acreage position of any company in Paris Basin Acreage Position 100% ownership and operatorship - likely to be attractive to a major Paris Basin has significant resource prospectivity a
Slide 24: www.elixirpetroleum.com
For personal use only www.elixirpetroleum.com Information contained in this presentation with respect to the High Island and Pompano Projects, was compiled by Elixir or from material provided by the project operators and reviewed by Elixir’s Operations Manager, Ian Lusted, BSc (Hons),SPE , who has h
Slide 25: Additional Slides
For personal use only ADDITIONAL SLIDES
Slide 26: Operational Profile
Operational Profile For personal use only Head Office Regional Office Local Reps UK North Sea – Exploration & Appraisal Gulf of Mexico – Onshore France Production – Exploration Geographic and Lifecycle Diversification 25
Slide 27: Unconventional Resources Europe
Unconventional Resources Europe For personal use only • EIA estimates France hosts 720Tcf OGIP and 180Tcf of technically recoverable shale gas * Source: EIA 2011 World Shale Report (April, 2011) “The biggest development of the first decade of the 21st century is not solar, not wind, but unconvention
Slide 28: Paris Basin Geological Characterisation
Paris Basin Geological Characterisation For personal use only Moselle Permit LIAS OIL SHALE TRIASSIC AND TOP CARBONIFEROUS CONVENTIONAL OIL & GAS CARBONIFEROUS TIGHT SANDS AND SHALES TRIAS LIAS CARB Source: P. Chungkham, “Paris Basin offers opportunities for unconventional hydrocarbon resources”, Ja
Slide 29: Moselle Permit Technical Workscopes
Moselle Permit Technical Workscopes For personal use only Activity Status Acquisition and Digitisation of 450 km of well log data Detailed Petrophysics Analysis of 20 wells Core and Cuttings Sampling from existing wells (600+ samples) Detailed Core and Cuttings Analysis for six key wells (eg. XRD, T
Slide 30: France Fiscal Regime
France Fiscal Regime For personal use only • Oil and gas owned by the State - exploration occurs under a concession regime • Production royalties and local mining taxes payable – no surface rentals or fees • Attractive fiscal terms – some of the best in the world, superior to US onshore and have not