Adx Energy Ltd · ASX:ADX
Adx Energy — Shareholder Meeting (May 2016)
24 slides from Adx Energy's shareholder meeting presentation, May 26, 2016
Slide 1: ADX Energy Investor Update – Annual General Meeting
For personal use only ADX Energy Investor Update Annual General Meeting 26 May 2016 www.adx-energy.com 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by ADX Energy Ltd for the purpose of providing an activity update to interested analysts/investors For personal use only and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any co
Slide 3: Corporate Summary
CORPORATE Summary For personal use only An ASX listed international energy explorer (ASX:ADX) Asset refocus on low cost, low risk, profitable asset commercialisation Portfolio of Appraisal, Development and Exploration assets Geographic focus – Offshore Mediterranean and Onshore Europe with l
Slide 4: Geographic Focus
GEOGRAPHIC FOCUS Offshore Mediterranean and Onshore Central Europe For personal use only - Acreage Contains 1 Oil Field, 3 Oil Discoveries and 1 gas condensate discovery Parta, Romania 50% operated Pannonian Basin Provencal Tyrrhenian basin Sea Aegean extension 4 Sicily Channel Licenses Libyan Sea (
Slide 5: Sicily Channel Resources Summary
SICILY CHANNEL RESOURCES SUMMARY All Permits at 100% equity For personal use only Nilde Area Contingent Resource 34 mmbo (2C) Senergy Feb 2016 Independent Assessment Recently Awarded Tunisia Resource Potential (note 1) Contingent resources: 173 mmboe Kerkouane-1 Prospective resources: 1,027 mmboe El
Slide 6: Strategic Direction – Current Assets
STRATEGIC DIRECTION – Current Assets Commercialisation of the Nilde Field Area Resources – Sicily Channel For personal use only Tangible low risk resource with proven production performance and substantial 2C resource (34 MMBBLS) that can be converted to reserves at low cost Excellent reservoir
Slide 7: Recent Progress – Current Assets
RECENT PROGRESS - Current Assets Corporate and Finance For personal use only Placement of 114,286,000 ordinary fully paid shares to raise A$ 800,000 for working capital and to progress definition of Nilde project. Commercialisation of the Nilde Field Area Resources – Sicily Channel Further geolo
Slide 8: Current Asset Progress
For personal use only CURRENT ASSET PROGRESS 1. Nilde Area Oil Project – Sicily Channel, Italy 2. Parta Exploration Project – Onshore Romania 3. Kerkouane Appraisal Project - Offshore Tunisia
Slide 9: Current Assets: Nilde Oil Field Area
CURRENT ASSETS: Nilde Oil Field Area Background For personal use only 1 Abandoned Oil Field with 3 Oil discoveries (all tested) Nilde field produced but abandoned prematurely Excellent production, seismic and well data base >> high confidence resource • Rapid low cost conversion to reserves wi
Slide 10: Nilde Oil Field Area – Contingent Resources
NILDE OIL FIELD AREA - Contingent Resources Gross Contingent1 Resources Volumes (MMstb) For personal use only Notes 1C 2 2C 2 1. Contingent Resources: those quantities of 2 3C Estimate petroleum estimated, as of a given date, to be Estimate Estimate potentially recoverable from known accumulations b
Slide 11: Nilde Oil Field Area – Project Attributes
NILDE OIL FIELD AREA – Project Attributes High Confidence from Extensive Data Base For personal use only • Historical production and test data for all undeveloped discoveries provides confidence on reservoir performance and crude quality (light oil, 39⁰ API). • Excellent 2 D seismic data quality and
Slide 12: Nilde Oil Field – Production History
NILDE OIL FIELD - Production History Nilde Oil Field produced: 21 mmbls before abandonment Peak production coincided For personal use only Initial reserves post sanction in 1979: ~10,000 bbls/d with water break through 6.3 mmbbls 7860 bbls/d and 1988 oil price collapse US$40 oil @ US$13 oil when 570
Slide 13: Nilde Field Area – Commercialisation
NILDE FIELD AREA - Commercialisation Recent Progress For personal use only Engaged with FPSO and Drilling Contractors to determine likely development costs, operating costs and preferred development options Completed indicative economics based on FPSO option Development of 3 D Geological model
Slide 14: Nilde Field Area – Indicative Economics
NILDE FIELD AREA – Indicative Economics Development Scenario Assumptions 2 production wells centrally located For personal use only Develop Nilde and Nilde Bis only FPSO Development – Build Own Operate Water depth approx. 100 m Well total TVD approx. 1700 m Oil export via shuttle tanker(s) to
Slide 15: Nilde Field Area – Project Definition
NILDE FIELD AREA – Project Definition B 80 meter oil column For personal use only 3D Geological Model 110 meter oil column A 3D visualisation of the reservoir A incorporating the reservoir properties which affect oil in place, oil flow and oil Undrained Pool 15 mmbo (2C) recovery from the resources
Slide 16: Nilde Field Area – Exploration Potential
NILDE FIELD AREA – Exploration Potential • Mapping of 5 exploration For personal use only leads defined with existing Nailia-1 Lead-5 Lead-4 2D seismic in the D 363 Nilde-1 bis Nilde-2 Norma-1 Lead-3 CR.AX permit with a total Lead-1 Lead-2 best estimate prospective resources of 90 million barrels of
Slide 17: Nilde Area Current Focus
NILDE AREA CURRENT FOCUS For personal use only 1. Finalise geotechnical studies, reservoir engineering studies and development drilling design work to establish a high confidence oil volume and optimal subsurface development plan for the Nilde field redevelopment (Nilde and Nilde Bis). 2. Undertake
Slide 18: Current Assets – Parta Permit Progress
CURRENT ASSETS – Parta Permit Progress For personal use only 30 months extension of first exploration phase agreed with NAMR, government ratification pending 2 D seismic acquired indicating excellent prospectivity Extensive landowner work to secure access 3D area resulting in community support
Slide 19: Parta 3D Seismic Is a Game Changer
PARTA 3D SEISMIC IS A GAME CHANGER “Shooting Fish in a barrel” For personal use only S N PINCHOUT tested TRAPS Oil production 1.2 mmscf/d Ch IVb_ IVc_ IVa IVb_ Va IVc_ TS2 VI Vc BLOW OUT VIII Oil & Gas charge proven 8 sqkm trap area tested Multi – horizon plays proven 1.2 mmscf/d Use 3D seismi
Slide 20: Parta & Romania Current Focus
PARTA & ROMANIA CURRENT FOCUS For personal use only Parta Permit Exploration Finalise landowner access arrangements in preparation for 3D seismic acquisition once ratification of license extension is confirmed. Re engage with potential farminees. Romanian Production Opportunities The low oil price h
Slide 21: Kerkouane Permit – Offshore Tunisia
KERKOUANE PERMIT – Offshore Tunisia Nilde oil field An offshore license area For personal use only encompassing approx. 5,000 km² in Dougga West (oil) a proven hydrocarbon province. Prospect The permit offers several very large 227 mmboe Best case resource size prospects and the Prospective Reso
Slide 22: Kerkouane Current Focus
KERKOUANE CURRENT FOCUS For personal use only Kerkouane Permit Extension Seeking to retain option over large resource base at Dougga by securing permit extension. Dougga Commerciality Studies Seek to exchange exploration focussed 3D seismic for Dougga focussed prefeasibility studies. Seek to define
Slide 23: Immediate Activity – Outlook for 2016
IMMEDIATE ACTIVITY – Outlook for 2016 For personal use only 1. Italy – Nilde area: Finalise development plan for a Nilde redevelopment and move contingent resources into reserves, establishing commerciality and value. Engage interested parties for industry finance and joint development 2. Romania -
Slide 24: For personal use only
For personal use only Ian Tchacos Executive Chairman Paul Fink Chief Executive Head Office: Level 2, Suite 14 210 Bagot Road, Subiaco, WA, 6008 Tel: 61 8 9381 4266 Fax: 61 8 9381 4766 Website www.adxenergy.com.au Email admin@adxenergy.com.au ASX Code ADX 24