Prominence Energy Limited · ASX:PRM

Prominence Energy — Sun Resources NL — Investor Presentation (March 2015)

15 slides from Prominence Energy's investor presentation, Mar 31, 2015

  1. Slide 1: Investor Briefing

    Investor Briefing 31 March 2015

  2. Slide 2: Key Near-Term Milestones to Deliver Success

    KEY NEAR-TERM MILESTONES TO DELIVER SUCCESS  Re-double efforts on Sun’s flagship Normangee Oil Project • Place newly consolidated portfolio entirely within Sun’s control • Resolve a number of issues with Amerril Energy LLC; dissolve AMI’s • Conclude non-core asset divestment process • Net cash proc

  3. Slide 3: Sun Near Term Actions Across Portfolio

    SUN NEAR TERM ACTIONS ACROSS PORTFOLIO  Sun, as Operator of Normangee Project, has delivered: • Jack Howe #1H Lower Woodbine Lateral; ready to frack • A 6,100 foot lateral, geo-steered and cased successfully at first attempt • Consistent with section completed at Zeus #1H by EOG = >500 Boepd (30-da

  4. Slide 4: Sun Resources Corporate Snapshot

    SUN RESOURCES CORPORATE SNAPSHOT Capital Structure: Pre-Capital Raising Share Price / Volume History ASX code SUR Ordinary shares on issue 3,162m 1 Performance options 140m Listed options ($0.025) 259m 2 Unlisted options (various prices) 21m Current share price (24-Mar-15) $0.002 Market capitalisati

  5. Slide 5: Lower Woodbine – Normangee Oil Project

    LOWER WOODBINE – NORMANGEE OIL PROJECT  $5mm Fracking AFE gives pay out in year-3 and delivers IRR=15% (@$50 oil)  Estimated gross revenue in first year of Jack Howe #1H flow back (NRI)=$4 million  A 25% reduction in drilling and Fracking AFE’s delivers IRR=20% (@$50 oil)  US Operators reported

  6. Slide 6: Lower Woodbine – Lateral Completions Along Fairway

    LOWER WOODBINE – LATERAL COMPLETIONS ALONG FAIRWAY Map Well Completion Well BOPD Loc. # Name Date Operator 30dayIP 1 Andrews U. 1H Dec-13 Decker 300 2 Burns Statue U. 1H Nov-13 EnCana 212 3 Weaver Ranch 1H Oct-13 EnCana 275 4 Theiss A #1H Aug-11 ENEXP 253 5 Bayou Bengals U.1H Sep-13 EOG 360 6 Blazek

  7. Slide 7: Well Cross-Section (A-A') – Jack Howe #1 - Seale #1

    WELL CROSS-SECTION (A-A’) – JACK HOWE #1 - SEALE #1 Jack Howe #1 Seale #1 A Austin Chalk Fm. A’ Jack Howe SBCV T. Zeus Eagle Ford Seale #1H #1H #1H Keeling Shale #1H 250 foot ‘bench’ mapped throughout fairway Lower Woodbine Buda-Georgetown ‘bench’ Buda-Georgetown Fm. confirmed with wells by EOG and

  8. Slide 8: Normangee Oil Project – Lower Woodbine drill sites

    NORMANGEE OIL PROJECT – Lower Woodbine drill sites  3 additional drilling units required to HBP the whole project area  Phase 1: $5mm to frack Jack Howe #1H – looking to reduce closer to $4mm  Phase 2: $20 million for 3 additional wells to HBP project area; (~$6mm gross per well AFE )  Phase 3:

  9. Slide 9: Potential Well Locations and Indicative Well Economics

    Potential Well Locations and Indicative Well Economics Potential Locations Gross Sales Volumes (160 acre spacing) Locations Oil bbl 310,906 Flo Delta 32 Gas cu ft 199,087 Total BOE 344,087 Normangee 16 US$M Southern W'bine 4 Single Well AFE 7,592 Badger 6.4 US$M Total 58 Total Opex (15yrs prod'n) 3,

  10. Slide 10: Large # of Operators Active in East Texas

    Large # of Operators Active in East Texas (source: ZaZa Energy) Map showing recent Buda completions = turquoise dots (Source: ZaZa Energy) 10

  11. Slide 11: Buda-Georgetown: New 'bench' doubles resource potential

    BUDA-GEORGETOWN: New ‘bench’ doubles resource potential Multiple oil targets – minimum 2 benchs  Sub Clarksville Sandstone – Producing in area  Eagle Ford Shale – Lower Woodbine oil confirmed  Buda – First local oil completions confirmed Samuel #1H (Presco) Buda 8,000’ 1 lateral drilled Jack Howe

  12. Slide 12: Delta Oil Project – Large Buda-Rose Structure

    DELTA OIL PROJECT – Large Buda-Rose Structure  100%WI in 4,800 net acres as of 31 Approximate Area of Buda Prospect December 2014  Large Buda structure mapped with 300 feet of closure  Oil & gas column tested in old vertical well with 300 feet of log pay  Warrants initial vertical pilot well to

  13. Slide 13: Key Next Steps

    KEY NEXT STEPS  Frack and flow back Jack Howe #1H to demonstrate play potential • Farm out and frack Lower Woodbine lateral • Generate cash flow from strong initial production (~$4-5 million gross in first year of flow back)  Prepare to execute Phase 2 drilling program to HBP all Normangee leases

  14. Slide 14: Important Information - Disclaimer

    IMPORTANT INFORMATION - DISCLAIMER This presentation has been prepared by Sun Resources NL (“Sun”) for the purpose of providing a company and technical overview to interested parties to enable recipients to review the business activities of Sun. This presentation is limited in scope and is not inten

  15. Slide 15: Contact Sun

    Contact Sun, or visit the website for further information www.sunres.com.au

Sun Resources NL — Investor Presentation (March 2015) on 6ix