ADX Energy Ltd · ASX:ADX
ADX Energy — AuDAX Resources — Shareholder Meeting (November 2007)
47 slides from ADX Energy's shareholder meeting presentation, Nov 23, 2007
Slide 1: AuDAX Resources Ltd Annual General Meeting
For personal use only AuDAX Resources Ltd Annual General Meeting Oil and Gas Technical Presentation Friday 23 November 2007 1
Slide 2: Highlights: Domestic
Highlights: Domestic For personal use only Cooper-Eromanga Basin PEL 182 ¾ Vanessa-1: ~15Bcf Permian gas discovery ¾ Jasmine-1 stratigraphic oil test due to spud end November 2007 ¾ Farmout Offer: confidential agreement with Enterprise Oil & Gas subject to pre-emptive rights under JOA to be exercise
Slide 3: Highlights: International
Highlights: International For personal use only ¾ Acquisition of Alpine Oil & Gas Pty Ltd. ¾ Negotiating 50% equity & operatorship in new permit in Tunisia. ¾ 25% equity & operatorship of Joint Study and Bidding agreement on Tunisia ¾ 33.3% free carried interest in A$1.6MM (gross) Joint Study & Bidd
Slide 4: Domestic: Cooper-Eromanga Basin PEL
For personal use only Domestic: Cooper-Eromanga Basin PEL 182 4
Slide 5: Cooper Eromanga Basin PEL
Cooper Eromanga Basin PEL 182 For personal use only ¾ Permit award January 2006 ¾ 11 well commitment in first 3 years (5 wells in first permit year) ¾ Due to rig shortage, flooding and logistic issues, first permit year anniversary extended to 23 Nov 2007 ¾ 3 wells drilled so far, resulting in: ¾ Va
Slide 6: AuDAX drilling results
AuDAX drilling results For personal use only 3 AuDAX wells: ¾ Emily-1: ¾ Sarahlyn-1 ¾ Vanessa-1 ¾ Permian Toolachee and Patchawarra Fm coals and shales are the main hydrocarbon source rocks for Permian, Triassic and Jurassic reservoirs ¾ Migration into Jurassic reservoirs is facilitated by direct ac
Slide 7: Vanessa ST1
Vanessa ST1 For personal use only Vanessa ST1 cased and suspended new Permian Gas Discovery ¾ Vanessa-1 logged to coal bridge obstruction in the uppermost Patchawarra Fm ¾ Three open hole DSTs above Patchawarra coal bridge: ¾ DST1A: Epsilon Sand 2,977-2,980m: 5.1MMscfd on 0.5” choke at 800psi FP ¾ D
Slide 8: Vanessa-1 test results
Vanessa-1 test results For personal use only DST1C: Toolachee Sand 2929-2932m: 3.9MMscfd on 0.5” choke at 525psi FP DST1C DST1B: Epsilon Sand 2960-2963m: DST1B no flow: tool potentially plugged DST1A: Epsilon Sand 2977-2980m: 5.1MMscfd on 0.5” choke at 800psi FP DST1A 8
Slide 9: Vanessa-1 & Vanessa-ST1
Vanessa-1 & Vanessa-ST1 For personal use only ¾ Vanessa ST-1 successfully drilled to 3,157m ¾ Logs show potential gas pay also in Patchawarra Fm ¾ 7” production casing run ¾ Based on pre-drill mapping: resource potential ~15Bcf ¾ Options include bringing in workover rig for production testing ¾ G &
Slide 10: Jasmine-1 Proposed Location Geological Cross Section
Jasmine-1 Proposed Location For personal use only Geological Cross Section 10
Slide 11: Current Permit Activity
Current Permit Activity For personal use only ¾ Key goal for JV: ¾ Mature new prospect and lead inventory SE & NE Area: 861 km ¾ Subsequent seismic acquisition and reprocessing concerted “string-of-pearls” drilling campaign in late 2008/2009. ¾ Objective being met by: ¾ 1,222 km Seismic Reprocessing
Slide 12: International: Alpine Oil & Gas Acquisition
For personal use only International: Alpine Oil & Gas Acquisition 12
Slide 13: Alpine Oil & Gas Acquisition Deal
For personal use only Alpine Oil & Gas Acquisition Deal: ¾ Acquire Alpine Oil & Gas Pty Ltd. for 16 million AuDAX ordinary fully paid shares 13
Slide 14: Current Alpine Assets
Current Alpine Assets For personal use only ¾ 33.3% free carried interest in A$1.6 million Joint Study & Bidding Agreement (JSBA) on Romania fully funded by Nexus and Orion ¾ 25% participating interest in JSBA with Orion (Kairiki) on Tunisia ¾ Fully operational office and team with deep knowledge of
Slide 15: Romania JSBA: Areas of Interest
Romania JSBA: Areas of Interest For personal use only Transylvani a Basin ¾ Oil seeps excavated since Roman times with drilling commencing in Eastern Pannonian 1861 Basin E. Carpathian Foredeep ¾ > 15 billion bbl in >895 fields discovered to date with production peaking in 1976. Romania Black ¾ Larg
Slide 16: Romania Value Creation Strategy
Romania Value Creation Strategy For personal use only Alpine has created a unique set of opportunities Key triggers are: ¾ OMV has a 51% equity in Petrom, Romania’s largest oil and gas company with an average daily production of 200,000 BOEPD. ¾ Petrom will be required by the Romanian government to
Slide 17: Tunisia JSBA: Areas of Interest
Tunisia JSBA: Areas of Interest For personal use only Tunisia: key producing areas ¾ Tunisia offers infrastructure, stability, and Landsat image map and both mature and relatively unexplored basins with considerable upside for small and medium size Tellian Atlas hc province hydrocarbon accumulations
Slide 18: Tunisia: Conclusions
Tunisia: Conclusions For personal use only ¾ Alpine has considerable experience and strategic networks in Tunisia ¾ Alpine is currently assessing not only exploration opportunities but also potential Brownfields and Greenfields acquisitions ¾ Alpine has recently entered into a conditional agreement
Slide 19: Technical Justification
Technical Justification For personal use only The technical justification is to acquire Alpine Oil & Gas Pty Ltd Æ ¾ Offers potential value creation for expansion beyond Cooper Basin asset area using strategic alliances to develop core exploration and production bases in two new areas: Romania and T
Slide 20: Romania Status November 2007
ALPINE OIL & GAS For personal use only ROMANIA Status November 2007
Slide 21: Vienna
ALPINE OIL & GAS For personal use only VIENNA
Slide 22: Extensive Hydrocarbon System
ALPINE OIL & GAS EXTENSIVE HYDROCARBON SYSTEM For personal use only London Vienna Bucharest VIENNA – BUCHAREST: 870 km
Slide 23: Extensive Hydrocarbon System
ALPINE OIL & GAS EXTENSIVE HYDROCARBON SYSTEM For personal use only Vienna Basin Molasse Zone Vienna Transylvania Pannonian Bucharest Foredeep & Subthrust - Subsalt SOURCE: AAPG Memoir 84
Slide 24: Extensive Hydrocarbon System: Alpine Experience
ALPINE OIL & GAS EXTENSIVE HYDROCARBON SYSTEM For personal use only Vienna Basin Molasse Zone Vienna Transylvania PANNONIAN Bucharest Foredeep & Subthrust - Subsalt SOURCE: AAPG Memoir 84 ALPINE EXPERIENCE
Slide 25: Romania
ALPINE OIL & GAS ROMANIA For personal use only ¾ LEGAL AND COMMERCIAL SECURITY: ¾Joined European Community January 2007. ¾Ex – Communist Eastern European state now with legal and commercial framework of European Union. ¾European Commission will ensure and enforce open and competitive environment.
Slide 26: Romania E&P
ALPINE OIL & GAS ROMANIA E&P For personal use only ¾ STRONG INCENTIVE TO INCREASE DOMESTIC E&P ACTIVITY ¾Largest oil & gas producer in SE Europe: 114,000 bbls/day, 424 bcf / year ¾Oil Consumption: ca. 240,000 bbls/day : Supply mainly from Russia ¾Gas Consumption: 644 bcf and strongly increasing. ¾Ex
Slide 27: Romania Production
ALPINE OIL & GAS ROMANIA PRODUCTION For personal use only End of Communist Regime First License Bidding Round End of Communist Regime First License Bidding Round OIL PRODUCTION GAS PRODUCTION
Slide 28: Romania Proven Reserves
ALPINE OIL & GAS ROMANIA PROVEN RESERVES For personal use only ¾PROVEN (P1) REMAINING RESOURCES BASE: ¾Remaining proven oil reserves: ca. 1 billion barrels ¾Remaining proven gas reserves: ca. 3.6 Tcf ¾Total Remaining ca. 1.5 billion boe. ¾Ca. 900 mmboe owned by PETROM (1P reserves)
Slide 29: Yet to Find USGS
ALPINE OIL & GAS YET TO FIND USGS For personal use only Onshore EXCLUDES PANNONIAN & TRANSYLVANIAN BASIN AND OFFSHORE !
Slide 30: Yet to Find USGS
ALPINE OIL & GAS YET TO FIND USGS For personal use only EXCLUDES PANNONIAN & TRANSYLVANIAN BASIN AND OFFSHORE !
Slide 31: Current Licenses & Players
ALPINE OIL & GAS CURRENT LICENSES & PLAYERS For personal use only Petrom: 67, 202 sqkm Romgaz: 37, 587 sqkm Romgaz – Wintershall Core Area Rompetrol: 9,840 sqkm Petrom Core Area (new 3D)
Slide 32: Petrom Relinquishment
ALPINE OIL & GAS PETROM RELINQUISHMENT For personal use only UKRAINE HUNGARY Likely Petrom Relinquishment Areas ( ca. 20,000 km2 ) Exploration Bidding Blocks (7th round, bid by 24 January 2008)
Slide 33: Fields & Opportunities
ALPINE OIL & GAS FIELDS & OPPORTUNITIES For personal use only Salacea (Bid Round) Abramut 14 mmbls (2P) Roman Fields 70 bcf (2P) Suplacu 1.5 Tcf Gas (2P) 130 mmbls oil (2P) 30 mmbls remaining Chislaz & Siniob (Bid Round) Turnu 51 mmboe (2P) Nadlac Carpathian (70ft oil-zone?) Calacea 62 mmboe (2P) Sa
Slide 34: Strategy (1/2)
ALPINE OIL & GAS STRATEGY (1/2) For personal use only ¾ AHEAD OF COMPETITION THROUGH EXCLUSIVE DATA ACCESS ¾Unique business opportunity in 2008 through 20,000 km2 Petrom relinquishment. (“Perestroika II under EU – regulation”). ¾Plan: Fully exploit competitive advantage through possible cooperation
Slide 35: Strategy: Pannonian Basin Core Area
ALPINE OIL & GAS STRATEGY (1/2) For personal use only ¾ PANNONIAN BASIN: CORE AREA
Slide 36: Strategy (2/2)
ALPINE OIL & GAS STRATEGY (2/2) For personal use only ¾ TECHNICAL FOCUS ON STRATIGRAPHIC TRAPS & UPSIDE ¾ALPINE OIL & GAS technical expertise ¾Stratigraphic potential on flanks of existing fields ¾ALPINE OIL&GAS technical expertise and modern seismic will make the difference! ¾ TECHNICAL FOCUS ON BR
Slide 37: Examples
ALPINE OIL & GAS EXAMPLES For personal use only Algyo Production: 220 mmbls oil 2.5 Tcf gas
Slide 38: For personal use only
For personal use only ALPINE OIL & GAS
Slide 39: Vienna
ALPINE OIL & GAS For personal use only VIENNA
Slide 40: Tunisia
ALPINE OIL & GAS TUNISIA For personal use only Vienna
Slide 41: Fields & Infrastructure
ALPINE OIL & GAS FIELDS & INFRASTRUCTURE For personal use only
Slide 42: Ashtart
ALPINE OIL & GAS ASHTART For personal use only Ashtart Discovery: 1971 Concession: ETAP/OMV (50/50) Location: Gulf of Gabes, 80km SE Sfax ALGERIA Water Depth: 66 meters Operator: SEREPT Ashtart 1st Oil production: 1974 Tunisia OOIP: 930 MMBBL Remaining reserves: 40 MMBBL LIBYA Produktion
Slide 43: Turonian facies distribution in Tunisia
ALPINE OIL & GAS 9°00' 11°00' 13°00' For personal use only M SICILE Bizerte E TURONIAN FACIES Zembra D 37°00' 37°00' I Annaba Tabarka PANTELLERIA TUNIS T DISTRIBUTION IN E Nabeul R Gulf Of Hammamet 36°00' R TUNISIA LINOSA Sousse Kuriat Island A Ashtart Deep marine N V V Concession V V V 35°00' V V V
Slide 44: Tunisian field size distribution
ALPINE OIL & GAS Tunisian field size distribution For personal use only El Borma (1962) -2 Ashtart (1971) 563.73 P1 Miskar (1974) P2 Lognormal regression P5 Hasdrubal (1975) Input data samples 84.65 P10 Sidi El Kilani (1989) P20 29 24.92 P30 P40 8 P50 P60 P70 P80 0.81 P90 P95 P98 Swanson's Mean 0.12
Slide 45: Proven Gas Reserves
ALPINE OIL & GAS PROVEN GAS RESERVES For personal use only Obvious convex shape defining the „MCFS“ of 8 BCF(1.44 MMBOE) at P80 Commercial Truncation -2 P1 P2 Lognormal regression P5 Input data samples 230.36 P10 114.7 P20 29 27.81 P30 82.77 P40 31 P50 P60 P70 P80 4.20 P90 P95 P98 Swanson's Mean 0.8
Slide 46: For personal use only
For personal use only ALPINE OIL & GAS
Slide 47: For personal use only
For personal use only ALPINE OIL & GAS
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