Adx Energy Ltd · ASX:ADX
Adx Energy — AuDAX Resources — Shareholder Meeting (October 2008)
35 slides from Adx Energy's shareholder meeting presentation, Oct 24, 2008
Slide 1: Annual General Meeting, Perth, 24 October 2008
ys RESOURCES LTD AuDAX ANNUAL GENERAL MEETING PERTH, 24 OCTOBER 2008, 10:30 AM
Slide 2: Disclaimer
DISCLAIMER For personal use only This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be effected by a variety of variables whic
Slide 3: Company Structure
COMPANY STRUCTURE For personal use only Fully Paid Ordinary Shares 189,790,212 Options 27,630,047 Unlisted Options 7,650,000
Slide 4: Achievements & Strategy
For personal use only ACHIEVEMENTS & STRATEGY
Slide 5: Strategy: Two Pronged Approach
STRATEGY For personal use only TWO PRONGED APPROACH grow the European and North African oil and gas business in order to expose p shareholders to the lucrative European energy market Promote existing Australian energy, gold and base metal portfolio to capitalize on the high commodity price envir
Slide 6: Portfolio
PORTFOLIO For personal use only Vienna Office Romania: AMI Tunisia: Kerkouane & Chorbane Italy: GRPU15 WA Mining PEL 182 Perth HQ
Slide 7: 2008 Highlights
2008 HIGHLIGHTS TUNISIA: For personal use only ¾ AuDAX approved as Tunisian operator by authorities (DGE, ETAP & CCH) ¾Completion of Kerkouane License Purchase and Transfer of Title ¾Negotiation and approval of highly favorable PSC and work program terms for Kerkouane ¾Company maker prospects and
Slide 8: Growth
GROWTH For personal use only Large Sized Company Maker: Italyy & Tunisia Offshore: Sambuca Prospect, Drill 2009 Mid - Large Sized Company Maker: Tunisia Offshore: Dougga Gas & C d Condensatet DDevelopment l t Mid Sized Company Makers: Tunisia Onshore: Chorbane Exploration Drill 2009 Romania 9th & 10
Slide 9: Exploration & Development
For personal use only EXPLORATION EXP ORATION & DEVELOPMENT
Slide 10: European & North African Portfolio
EUROPEAN & NORTH AFRICAN PORTFOLIO For personal use only ROMANIA FUTURE EXPLORATION & VIENNA APPRAISAL GROWTH KERKOUANE CONDENSATE APPRAISAL G.R.15.PU (ITALY) EXPLORATION CHORBANE EXPLORATION
Slide 11: Technical Highlights
TECHNICAL HIGHLIGHTS For personal use only HIGH IMPACT EXPLORATION PROSPECT IN OFFSHORE TUNISIA & ITALY: ¾ Sambuca “Company Maker” offshore Italy and Tunisia: 270 mmboe (mean prospective recoverable resources) TUNISIA: APPRAISAL & DEVELOPMENT OF DOUGGA DISCOVERY: ¾ Successful Appraisal well woul
Slide 12: Tunisia & Italy
For personal use only TUNISIA & ITALY
Slide 13: Tunisia & Italy Assets
TUNISIA & ITALY ASSETS For personal use only Tunisia: KERKOUANE 70% AuDAX 30% Kairiki Italy: G.R.15.PU (Pantelleria) 70% 0% AuDAX u 30% Kairiki Tunisia: CHORBANE 50% AuDAX 50% Kairiki
Slide 14: Recent Developments
RECENT DEVELOPMENTS For personal use only TUNISIA: ¾ AuDAX approved as Tunisian operator by authorities (DGE, ETAP & CCH) ¾ Kerkouane license extended until Q1 2010 without any further commitments. ¾ Dougga appraisal well allowed as “exploration“ commitment well ¾ SPA with Kairiki for 30% interest
Slide 15: Sicily Channel: Kerkouane & Pantelleria
SICILY CHANNEL: KERKOUANE & PANTELLERIA For personal use only Under Explored: 4,500 km2 area between oil & gas fields. Only 2 wells on both permits. Oil Field SICILY (ITALY) Gas Condensate Nilde Recent Cassiopa Discovery: 500 bcf Zibibbo Dougga Tazerka Birsa Yasmin Oudna TUNISIA Cosmos
Slide 16: Sicily Channel Prospects
SICILY CHANNEL PROSPECTS For personal use only Mean Prospective Resources Most Likely Reserves HC ‐ Gas Oil & Condensate Oil Equivalent Sambuca-Over thrust (17) PROSPECTS [bcf] [mmbls] [mmboe] Sambuca (Birsa, Ain Grab, Abiod) 216 234 270 Sambuca Overthrust (Ain Grab) 0 17 17 Dougga (Abiod) 420 29 99
Slide 17: Dougga & Sambuca
DOUGGA & SAMBUCA For personal use only COMBINED ABIOD RESERVOIR P50 RECOVERABLE RESOURCES: 70 MMBLS CONDENSATE , 50 MMBLS LPG 910 BCF SALES GAS Sambuca: *270 MMBOE Dougga: *100 MMBOE *T Total t l P50 RECOVERABLE TOP ABIOD RESERVOIR DEPTH
Slide 18: Dougga & Sambuca: Multi-Target
DOUGGA & SAMBUCA: MULTI-TARGET For personal use only Dougga-1 Sambuca Birsa Oil Reservoir Ain Grab G Oil O Proven Abiod Gas Abiod Gas Condensate Condensate
Slide 19: Birsa Oil Rim in Dougga?
BIRSA OIL RIM IN DOUGGA? For personal use only Birsa Gas - Cap Birsa OIL RIM? Ain Grab – DEPTH
Slide 20: Seismic Acquisition Dougga Hub
SEISMIC ACQUISITION “DOUGGA – HUB” For personal use only WATER BOTTOM DEPTH Tie in satellite prospects from “DOUGGA DOUGGA – HUB HUB”
Slide 21: Dougga North: Nilde Oil Field Analogy
DOUGGA NORTH: NILDE OIL FIELD ANALOGY For personal use only E SE Dougga-1 Seismic Line from Kerkouane Block Geologic Section through Nilde field Nilde Oilfield in Italy, approx. 60 km further North
Slide 22: Italy – Sicily Channel X-Section
ITALY – SICILY CHANNEL X-SECTION For personal use only Nilde Oil Field Dougga-North: Nilde Analogy NW SE 10 kilometers Nilde Oil Field: 25 mmbbls
Slide 23: Onshore Tunisia: Chorbane
ONSHORE TUNISIA: CHORBANE For personal use only Tunis Chorbane Sidi El Itayem Sidi Beharra Sfax Sfax Tripoli Chaal Mehares 100 km Ghadames
Slide 24: Onshore Tunisia: Chorbane
ONSHORE TUNISIA: CHORBANE For personal use only To T Date: D t 6 St Structural t lL Leads d Id Identified tifi d Multiple Objectives from Jurassic through Eocene Analogue Fields in Trend for All Reservoirs Good Seals Above All Reservoirs Mature Cretaceous Source Rocks at Prospect Locations Ypre
Slide 25: Chorbane: Sidi Daher Prospect
CHORBANE: SIDI DAHER PROSPECT For personal use only 40-80 40 80 km k 2 Closure Cl Objectives: Eocene Nummulitic Reservoirs Abiod Limestone 140m thick at REF-1. Potential for southwards strat trap on crest of horst Bireno is 88m at REF-1 The Zebbag is likely to be the most important level with 95m of
Slide 26: Tunisia & Italy Summary
TUNISIA & ITALY SUMMARY For personal use only Two Company Maker Projects in proven petroleum province Large L number b off prospects t (1 billion billi bbl bbls mostt lik likely l unrisked i k d total resources) close to facilities Industry activity strongly picking up: Right Time – Right Plac
Slide 27: Romania
For personal use only ROMANIA
Slide 28: For personal use only
For personal use only The most prolific onshore European hydrocarbon province is for the first time opening up to competition, new technology and the European Community political & legal regime AND: The creaming curves of this prolific province are still heading upwards
Slide 29: Australia
For personal use only AUSTRALIA
Slide 30: Cooper Basin (South Australia)
COOPER BASIN (South Australia) For personal use only • AuDAX operated since May • Program undertaken – 4 exploration wells – 1300 km of 2D seismic reprocessing • Gas discovery – Vanessa 1 – Flowed gas from 2 zones at combined rate of 9mmscf/d; condensate shows! – Undamaged rates significantly higher
Slide 31: PEL 182: Focus Areas
PEL 182: FOCUS AREAS For personal use only CADNA OWIE TWT Emily Area: Appraisal & Near Field E ploration 2D: Exploration 2D 20 - 40 km Vanessa area and Moolion – nose area appraisal & exploration: 2D acquisition Jurassic Oil – Exploration: 2D seismic
Slide 32: Western Australia Minerals Interests
WESTERN AUSTRALIA MINERALS INTERESTS For personal use only AuDAX A DAX iis iin th the process off farming f i outt the th gold ld mining i i ttenements t Western Australia: Marymia Gold Development Area 7 K5 Area 6
Slide 33: For personal use only
For personal use only
Slide 34: 2009 Activity
2009 ACTIVITY For personal use only Acquire seismic in Offshore Sicily (Mainly Kerkouane Permit) Prepare P f for d illi drilling off one wellll in i offshore ff h Si ili Channel Siciliy Ch l (i.e. (i Sambuca) post farm - out as part of rigshare Complete Chorbane PSC and mature prospect invento
Slide 35: For personal use only
For personal use only