Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Euroz Hartleys Energy Conference 2021
27 slides from Carnarvon Energy's conference presentation, Nov 4, 2021
Slide 1: Generating Value Through the Energy Transition
GENERATING VALUE EUROZ HARTLEYS ENERGY CONFERENCE PRESENTATION 4 NOVEMBER 2021 THROUGH THE For personal use only ENERGY TRANSITION GENERATING VALUE THROUGH THE ENERGY TRANSITION 1
Slide 2: Disclaimer
Disclaimer The resource estimates outlined in this Presentation are based on and fairly represent information and supporting documentation prepared by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga has over 25 years’ experience in p
Slide 3: How we plan to generate value through the energy transition
How we plan to generate value through the energy transition For personal use only Production Plantations for Production Future of low cost carbon storage and of carbon neutral energy oil and gas renewable diesel renewable diesel investments feedstock and biochar GENERATING VALUE THROUGH THE ENERGY T
Slide 4: Transition investment opportunities but oil investment essential
Transition investment opportunities but oil investment essential For personal use only GENERATING VALUE THROUGH THE ENERGY TRANSITION 4
Slide 5: Building new oil fields critical to meeting projected demand
Building new oil fields critical to meeting projected demand For personal use only 125 100 Oil demand range Million barrels of oil per day 75 scenarios 50 Cumulative supply gap 25 Oil supply without 0 new fields 2020 2025 2030 2035 2040 2045 2050 Source: Equinor Energy Perspectives 2021, IEA GENERAT
Slide 6: CVN - quality core asset coupled with substantial growth potential
CVN - quality core asset coupled with substantial growth potential For personal use only Long oil………….…………………………... high quality low cost core oil asset interests held in the Dorado field High impact drilling.…………… three well program commencing with Buffalo-10 in November 2021 Growth rich………………………..
Slide 7: CVN's three high impact wells from November 2021 to April 22
CVN’s three high impact wells from November 2021 to April 2022 For personal use only Nov. Dec. Jan. Feb. Mar. Apr. Buffalo-10 well Pavo-1 well followed by Apus-1 well The VALARIS JU-107 jack up is currently completing Jadestone’s drilling campaign in Western Australia. VALARIS JU-107 jack up drillin
Slide 8: High quality Buffalo oil, prolific reservoirs, in shallow water
High quality Buffalo oil, prolific reservoirs, in shallow water For personal use only Indonesia Timor Buffalo field Darwin Truscott Katherine Wyndham Kununurra Derby Broome Canning N Port Hedland Basin Karratha Buffalo near field Exmouth Onslow exploration Western Northern Australia Territory Carnar
Slide 9: Buffalo drilling to confirm field attic and remaining oil columns
Buffalo drilling to confirm field attic and remaining oil columns For personal use only Buffalo-7 production Proposed well Buffalo-10 (2002) well Confirm attic oil column Highest well perforation Producing ~4,000 bopd in 2004 Existing oil column Oil-water contact GENERATING VALUE THROUGH THE ENERGY
Slide 10: Low minimum economic field size possible for Buffalo
Low minimum economic field size possible for Buffalo For personal use only GENERATING VALUE THROUGH THE ENERGY TRANSITION 10
Slide 11: Substantial potential in CVN's Bedout permits
Substantial potential in CVN’s Bedout permits For personal use only Indonesia Timor Darwin CVN 100% Truscott CVN 30% Katherine Wyndham CVN 20% Kununurra N Derby Broome Canning N Roc Port Hedland Basin Karratha Dorado Pavo Exmouth Onslow Apus Western Northern CVN 20% Australia Territory Carnarvon CVN
Slide 12: Roc field (CVN 20%)
Roc field (CVN 20%) For personal use only 2C Contingent Mean prospective resources resources (net CVN) (net CVN), selected prospects 140 Gas and condensate discovered & appraised in 2016 120 3 12 Successfully flow tested: 100 51 million scf/day of gas and 2,943 barrels of condensate / day 80 mmboe 1
Slide 13: Dorado field (CVN 20%)
Dorado field (CVN 20%) For personal use only 2C Contingent Mean prospective resources resources (net CVN) (net CVN), selected prospects Oil, gas and condensate 140 discovered & appraised in 3 2018 & 2019 120 12 Successfully flow tested: 100 Caley interval 11,100 barrels of oil / day and 80 mmboe 16
Slide 14: Dorado Phase development (CVN 20%)
Dorado Phase 1 development (CVN 20%) For personal use only 2C Contingent Mean prospective resources resources (net CVN) (net CVN), selected prospects 140 3 120 12 100 Oil & condensate 75,000 – 100,000 bopd capacity 80 mmboe 16 FEED has commenced 77 60 37 40 Prospective Resources are Carnarvon’s esti
Slide 15: Pavo prospect (CVN 30%)
Pavo prospect (CVN 30%) For personal use only 2C Contingent Mean prospective resources resources (net CVN) (net CVN), selected prospects 140 3 120 Drilling Jan 2022 12 100 Oil weighted target 34% Pg 80 mmboe 16 Capable of tie back to Dorado 77 60 37 40 Prospective Resources are Carnarvon’s estimated
Slide 16: Apus prospect (CVN 20%-30%)
Apus prospect (CVN 20%-30%) For personal use only 2C Contingent Mean prospective resources resources (net CVN) (net CVN), selected prospects 140 3 120 12 Drilling immediately 100 after Pavo well completed Oil weighted target 80 mmboe 16 77 Pg 23% 60 37 40 Prospective Resources are Carnarvon’s estima
Slide 17: Technical snapshot of Pavo and Apus prospects
Technical snapshot of Pavo and Apus prospects Roc-1&2 wells field For personal use only Roc South well Dorado-1,2&3 wells field Apus prospect (CVN 20% & 30%) Pavo prospect (CVN 30%) Location, ▪ 31km east of Dorado, Location, ▪ 42km east of Dorado, WD ▪ 84m water depth WD ▪ 88m water depth Rig ▪ Nobl
Slide 18: Dorado is a world-class asset & a core asset for Carnarvon
Dorado is a world-class asset & a core asset for Carnarvon For personal use only Low unit cost ………….…………. Targeting <US$25/bbl (initial opex & capex) High quality liquids………… Expecting attractive pricing relative to Brent High flow rates……..……….…. Facilities designed to manage 100,000 barrels per da
Slide 19: Dorado also provides future development options
Dorado also provides future development options For personal use only Dorado gas export Pavo or Apus success (liquids) Pavo or Apus success (gas) • Flexibility in timing for gas • Enhances and elongates Dorado • Strengthens the gas export case development and export liquids production profile & cash
Slide 20: 68% of Bedout basin has 3D data covering >100 prospects
68% of Bedout basin has 3D data covering >100 prospects For personal use only GENERATING VALUE THROUGH THE ENERGY TRANSITION 20
Slide 21: Carnarvon's renewable diesel and biochar project (CVN 50%)
Carnarvon’s renewable diesel and biochar project (CVN 50%) For personal use only Renewable diesel Complements our Strengthens Business has Carbon sequestration production is a world class Carnarvon’s ESG multiple and feedstock strategic initiative conventional energy credentials avenues to harvestin
Slide 22: Wrap up
For personal use only Wrap up
Slide 23: Investment highlights
Investment highlights For personal use only WORLD BALANCED STRONG MARKET INNOVATIVE CLASS ASSETS PORTFOLIO CATALYSTS STRATEGY Headlined by our world class Actively pursuing broadening Clear outlook of significant near Proactively embracing the demands of Dorado project: energy and revenue streams: t
Slide 24: Resource tables
For personal use only Resource tables
Slide 25: Bedout Basin Contingent Resources
Bedout Basin Contingent Resources For personal use only Gross Resources (100% basis) Oil & Condensate Natural Gas Barrels of Oil Equivalent1 MMbbl BCF MMboe 1C 2C 3C 1C 2C 3C 1C 2C 3C Dorado 86 162 285 367 748 1,358 176 344 614 Roc 12 20 35 205 332 580 48 78 137 Bedout Project Sub-Total 98 182 320 5
Slide 26: Bedout Basin Selected Prospective Resources
Bedout Basin Selected Prospective Resources Prospective Resources (100% basis) For personal use only Prospective Resources (Net to CVN basis) Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project and may r
Slide 27: Generating value through the energy transition
For personal use only Generating value through the energy transition – a contemporary approach that integrates conventional assets and renewables HEAD OFFICE Level 2, 76 Kings Park Road T. +61 8 9321 2665 West Perth WA 6005 E. admin@cvn.com.au
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