Empyrean Energy Plc · LSE:EME
Empyrean Energy — Shareholder Meeting (September 2018)
26 slides from Empyrean Energy's shareholder meeting presentation, Sep 5, 2018
Slide 1: Building Value Through World Class Asian Assets
Sacramento Basin Project California Block 29/11 China BUILDING VALUE THROUGH WORLD CLASS ASIAN ASSETS Duyung PSC Indonesia AGM, 5 SEPTEMBER 2018
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain forward-looking statements and information that both represents management's current expectations concerning future events and are subject to known and unknown risks and uncertainties. A number of factors could cause actual results, performanc
Slide 3: Agenda - Annual General Meeting
Agenda - Annual General Meeting Introduction and Milestones Portfolio Overview China Indonesia California EMPYREAN ENERGY PLC | AGM 2018 3
Slide 4: Introduction and Milestones
Introduction and Milestones EMPYREAN ENERGY PLC | AGM 2018 4
Slide 5: Company Overview
Company Overview ▪ AIM quoted company focused on building a low cost, high value company ▪ Executive management has extensive experience in Asian region ▪ Comprehensive understanding of successful geological play ▪ Extensive relationship with upstream players, service providers, governments, nationa
Slide 6: Key Milestones
Key Milestones Strategy: Asia focused mid-cap E&P company within 3 to 5 Years August 2018 Mako South POD Submitted August 2017 Dempsey gas discovery, California 2019 onwards May 2017 January Drill wells in China and Farm-in to 2018 Indonesia Sacramento Basin, Dempsey gas Add new projects to Californ
Slide 7: 2017 - A landmark year for Empyrean
2017 - A landmark year for Empyrean Two successful gas wells drilled & three “drill ready” prospects matured ▪ High Quality 3D seismic data acquisition, processing and interpretation completed Block 29/11, ▪ Oil migration study addressed light oil migration into prospects comprehensively China ▪ Low
Slide 8: Portfolio Overview
Portfolio Overview Jade Prospect Drilling Operation at Mako South well Mako Gas Field & Mako Deep Prospect Jade and Topaz prospect at Block 29/11, China EMPYREAN ENERGY PLC | AGM 2018 8
Slide 9: Block 29/11, China – What have we achieved so far?
Block 29/11, China – What have we achieved so far? ▪ Acquired large 3D survey immediately after signing Geophysical Service Agreement (GSA) ▪ No HSE issue - first step towards capability building as an operator ▪ Worked closely with China Oilfield Services Limited (COSL) processing team for achievin
Slide 10: Three “jewels” Cut and Polished through systematic subsurface work
Three “jewels”- “Cut and Polished” through systematic subsurface work Block29/11, CHINA EME Gross Prospective (un-risked) Resources (OOIP) MMbbl* Prospect Low case Best Case High Case Jade 110 183 320 Topaz 298 431 631 Pearl 105 152 220 Topaz Prospect Jade Prospect LH 23-1-1d CNOOC Oil Discovery Cla
Slide 11: Jade Prospect – Low risk step out exploration target
Jade Prospect – Low risk step out exploration target ▪ 4-way dip closed structure / Carbonate build-up encased in marine shale ▪ Step out exploration opportunity from nearby discovery well LH23-1-1d EMPYREAN ENERGY PLC | AGM 2018 11
Slide 12: Topaz Prospect – Large prospect with access to two oil kitchens
Topaz Prospect – Large prospect with access to two oil kitchens ▪ Large 3W Dip Closed Trap - close analogue for nearby LH16-2 oil discovery ▪ Prospect is interpreted as a focal point for migration because of its position on the axis of the “Northern slope” of Baiyun Sag ▪ 3D data has mapped a new su
Slide 13: Pearl Prospect- Requires oil migration from Northern basin
Pearl Prospect- Requires oil migration from Northern basin ▪ Large 3W Dip Closed Trap - close analogue for nearby LH16-2 oil discovery ▪ Prospect in potential migration shadow from southern sag ▪ Requires oil migration from northern basin EMPYREAN ENERGY PLC | AGM 2018 13
Slide 14: 2019 – An exciting year for China
2019 – An exciting year for China 2016 2017 2018 2019 2020 2020 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Geophysical service Agreement (GSA) Petroleum Contract (PSC) 3D survey Planning / Acquisition 3D Data Processing Technical Evaluation Well Planning/ Well result analysis Permittin
Slide 15: Duyung PSC: Mako Gas Field & Mako Deep Prospect
Duyung PSC: Mako Gas Field & Mako Deep Prospect EMPYREAN ENERGY PLC | AGM 2018 15
Slide 16: Duyung PSC – What have we achieved so far?
Duyung PSC – What have we achieved so far? ▪ Immediately after Mako South 1 gas discovery, the Board worked closely with the operator (Conrad Petroleum) devising plans for a detailed analysis of all subsurface data ▪ Comprehensive technical, commercial and preliminary facilities work completed withi
Slide 17: Mako Gas Field – A world class asset in the making
Mako Gas Field – A world class asset in the making ▪ Low cost development potential ▪ Shallow water depths (60 metres to 100 metres) ▪ Reservoir Depth ~1,700feet ▪ 23ft of net pay with excellent permeability ▪ Excellent subsurface control ▪ Reservoir has been intersected by three separate wells, Cak
Slide 18: Mako Deep Prospect – Additional potential identified
Mako Deep Prospect – Additional potential identified Mako Same Reservoir Deep as Mako Deep (Lower Gabus) Schematics cross-section ▪ Very exciting result from reprocessing of 2D data ▪ Gained a better understanding of the prospectivity of the licence area ▪ Added incentive for further exploration thr
Slide 19: Mako Deep Prospect- Preliminary mapping
Mako Deep Prospect- Preliminary mapping Prospect Mako Deep ▪ Significantly improved data quality helped to define the prospects ▪ Detailed seismic mapping in progress ▪ Additional geological work (source rock assessment) has commenced EMPYREAN ENERGY PLC | AGM 2018 19
Slide 20: Duyung PSC 2019 targets
Duyung PSC 2019 targets ▪ Secure approval of POD ▪ Drill appraisal well with focus on increasing 2P reserves ▪ Complete comprehensive technical work for maturing Mako Deep prospect with possibility of testing Mako Deep prospect by deepening one of the Mako gas field appraisal wells ▪ Low risk apprai
Slide 21: Sacramento Basin, California: Dempsey and Alvares Projects
Sacramento Basin, California: Dempsey and Alvares Projects EMPYREAN ENERGY PLC | AGM 2018 21
Slide 22: Sacramento Basin, California – What have we achieved so far?
Sacramento Basin, California – What have we achieved so far? ▪ Drilled Dempsey 1-15 safely to Basement- successfully handled extensive gas shows and high pressures ▪ Comprehensively tested entire prospective reservoir sections- flowed gas from multiple zones ▪ Confirmed gas migration into the under-
Slide 23: Dempsey 1-15 – Preliminary Post-Drill analysis
Dempsey 1-15 – Preliminary Post-Drill analysis ▪ Extensive gas saturated intervals on large structure Empyrean Interpretation with indications of indicates thinner improving reservoir reservoirs at potential off structural peak Dempsey location ▪ Extensive subsurface data collected ▪ Additional cruc
Slide 24: Sacramento Basin assets 2018/19 targets
Sacramento Basin assets 2018 /19 targets Dempsey Alvares # 1 Trend Source: Xstate Resources ▪ Further evaluation of all subsurface, production and seismic data to assess the locations of better and thicker reservoir units and pursue attractive drilling locations ▪ Complete re-entry and testing in Al
Slide 25: Strategy execution is on track
Strategy execution is on track All assets have been comprehensively de-risked Valuable de-risked exploration assets with large potential Excellent relationship with host governments and JV partners Focus on creation of shareholder value EMPYREAN ENERGY PLC | AGM 2018 25
Slide 26: Contact
Contact St Brides Partners Empyrean Energy plc Cenkos Securities plc Priit Piip, Lottie Wadham Tom Kelly Neil McDonald, Beth McKiernan +44 (0)20 7 236 1177 +61 (0)8 9380 9920 +44 (0)131 220 9778 3 St Michael’s Alley, Level 3, 22 Railway Rd, 66 Hanover St, London EC3V9DS Subiaco WA 6008 Australia Edi
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