Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Euroz Securities' Rottnest Island Institutional Conference 2017
14 slides from Carnarvon Energy's conference presentation, Mar 15, 2017
Slide 1: Euroz Securities' Rottnest Island Institutional Conference Presentation
For personal use only Euroz Securities’ Rottnest Island Institutional Conference Presentation 14 March 2017
Slide 2: Disclaimer
Disclaimer For personal use only The Resource estimates outlined in this report have been 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 petroleum exploration and engineering. Mr Huizenga
Slide 3: Corporate snapshot
Corporate snapshot For personal use only Market capitalisation ~$100 million Carnarvon's shareholders Cash (31 Dec. 2016) ~$60 million 18% Top 20 shareholders (ex Board and management) 8% Enterprise value ~$40 million Board and management 74% Other shareholders Share price ~10 cents Roc-2 well resul
Slide 4: Portfolio snapshot
Portfolio snapshot For personal use only Buffalo CVN 100% WA-521-P Maracas CVN 100% CVN 100% Outtrim CVN 28.5% Phoenix project CVN 20 – 30% Cerberus CVN 100% 4
Slide 5: Overview: exploration and appraisal acreage on the NWS
Phoenix: overview For personal use only • The most exciting exploration and appraisal acreage on the NWS • FOUR discoveries from four wells drilled by Carnarvon and partner • Commercial flow rates achieved, comparable with major NWS fields • New hydrocarbon basin uncovered & significantly de-risked
Slide 6: Roc structure
Phoenix: Roc structure For personal use only • Roc-2 well delivered an historic flow at commercial rates • The well flowed strongly for 6 days under controlled test conditions • At 51 million scf per day of gas and 2,943 barrels of condensate per day, being a high condensate to gas ratio of 58 bbls/
Slide 7: Phoenix South structure
Phoenix: Phoenix South structure For personal use only • Phoenix South-2 intersected gas and condensate at the Caley Sst • High gas influx and pressures prohibited evaluation of the resource • Pressure positive for porosity (higher volume) and permeability (higher flow rates) • Upside potential in a
Slide 8: Dorado structure
Phoenix: Dorado structure For personal use only • Dorado is a large target ~15 kilometres from the Roc discoveries • Dorado structure is clear on 3D seismic and many times larger than Roc • Hydrocarbons expected from the same high generating rocks that charge Roc • Dorado-1 well preparations in prog
Slide 9: Infrastructure to markets
Phoenix: infrastructure to markets For personal use only • Location important relative to gas monetisation opportunities • Phoenix and Roc discoveries lie ~150 kilometres offshore of Port Hedland • WA’s main gas pipeline passes Port Hedland • Fortescue River Gas Pipeline links main gas pipeline to P
Slide 10: Historic WA gas supply in decline
Phoenix: Historic WA gas supply in decline For personal use only Forecast WA gas prices 10
Slide 11: Reindeer gas field an analogy for Roc
Phoenix: Reindeer gas field an analogy for Roc For personal use only • Reindeer gas field developed and operated by Quadrant Energy • Similar resource size of circa 80 million barrels of oil equivalent (“boe”)1 • Similar water depths of circa 50-100 metres • Similar distance of resource to gas plant
Slide 12: Roc, Phoenix South & Dorado: cash generation potential
Phoenix: Roc, Phoenix South & Dorado For personal use only • Material cash generation potential as resources scale up • Tie-back developments can leverage off the first development hub • Benefits arise as resources scale up, such as non replication of operating costs • Net present valuations and ris
Slide 13: Questions
For personal use only 13 Questions
Slide 14: Think Different Act Different
For personal use only Think Different Act Different 14
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