Emperor Energy Ltd · ASX:EMP
Emperor Energy — PESA Deal Day Brisbane 2022
25 slides from Emperor Energy's conference presentation, May 16, 2022
Slide 1: Presentation for PESA Deal Day, Brisbane
16 May 2022 ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000 Presentation for PESA Deal Day, Brisbane Emperor Energy Ltd (Emperor or the Company) (ASX: EMP) is pleased to advise that the Company is presenting at the PESA Deal Day Brisbane, being held at the Brisbane Convention a
Slide 2: Judith Gas Project
Judith Gas Project Australian Gas Appraisal Potential for 80 MMSCFD Earn equity in a 1.8 TCF* project by funding Judith-2 well PESA Presentation 16th May 2022 *1.8 TCF P50 Prospective Recoverable Resource (unrisked, arithmetic addition) 1
Slide 3: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER • This presentation is for the sole purpose of preliminary background information to enable recipients to review the business activities of Emperor Energy Limited ABN 56 006 024 764 (ASX: EMP). The material provided to you does not constitute an invitation, solicitation
Slide 4: Introducing Emperor Energy Team
Introducing Emperor Energy Team A team of experienced E&P and corporate professionals Phil McNamara Carl Dumbrell Nigel Harvey Malcolm King Geoff Geary Director Director Director Project & BD Geological Consultant Consultant • 37 years in the • Chartered • Former investment • ~30 years’ experience •
Slide 5: Gippsland Basin, 40km offshore
Gippsland Basin, 40km offshore New pipeline to shore at Orbost would provide access to East Coast domestic gas market 4
Slide 6: Vic/P47 Structural Configuration
Vic/P47 Structural Configuration The shallowest Judith reservoir (JGS1) was interpreted to Longtom and correlated with the Longtom 500 Gas Sand Strong influence of east to west directed compression on structuring – anticlinal development and sometimes inversion of normal faults. Seal and reservoir c
Slide 7: Judith Gas Field - Project Overview
Judith Gas Field - Project Overview • 1.8 TCF P50 Prospective Recoverable Resource – 1.2 TCF in Judith and Longtom Gas Sands – 622BCF in overlying Kipper & Golden Beach Gas Sands • 150BCF 2C Contingent Resource around Judith-1 Well • Project de-risked by: – Judith-1 discovery well – new 3D seismic w
Slide 8: Mapping – New PSDM 3D Seismic
Mapping – New PSDM 3D Seismic Top JGS 1 over Greater Judith – Depth approximately 2350m at Judith-1 Judith-2 proposed Rosedale Strzelecki Fault
Slide 9: Emperor owns 100% of VIC/P47
Emperor owns 100% of VIC/P47 Permit is in good standing, with Judith appraisal well due August 2023 • Ownership: Emperor owns 100% of 203 km2 VIC/P47, which covers the Judith-1 gas discovery Indicative Year Start Date End Date Activity Description Expenditure Complete? (AUD) Geotechnical studies inc
Slide 10: Gippsland Basin Stratigraphy
Gippsland Basin Stratigraphy • Judith and Longtom gas reservoirs – early rift fluvio-lacustrine Cenomanian sediments of the Emperor Subgroup • Kipper and Golden Beach Subgroup reservoirs – a secondary, developing play extending from Kipper Gas Field Golden Beach Subgroup (Kipper) Secondary Developin
Slide 11: Judith reservoir much thicker than Longtom
Judith reservoir much thicker than Longtom 1,170m Judith-1 gross thickness versus ~550m at Longtom-4: expect highly productive vertical wells
Slide 12: Judith-1 Wireline Log Interpretation
Judith-1 Wireline Log Interpretation – Judith Gas Sands Judith-1 • Gross column: 543 m • Net Sandstone Reservoir: 234 m • Net gas pay (gas sands): 162 m • Average Porosity in gas pay reservoirs: 13 - 14.9% • Average Permeability in gas pay reservoirs: 0.7 - 1.9 md • Average Gas Saturations for gas s
Slide 13: Data Quality: New Seismic PSDM Interpretation
Data Quality: New Seismic PSDM Interpretation Composite Seismic Strike Line Kipper/Golden Beach reservoir sequence 12
Slide 14: Judith Gas Sand AVO – Shuey Fluid Factor
Judith Gas Sand 2 AVO – Shuey Fluid Factor Gas sands light up on AVO Moveable Gas from Logs & RFT pressures 13
Slide 15: Longtom Sand AVO – Shuey Fluid Factor
Longtom 200 Sand AVO – Shuey Fluid Factor Gas sands light up on AVO 14
Slide 16: Longtom demonstrates high flow rates from Emperor sands
Longtom demonstrates high flow rates from Emperor sands Increases positive likelihood of high flow rates from Judith-2 • 2006 Longtom-3 flow tested 75 MMSCFD • Peak Longtom production flowrates were 56-77 MMSCFD from 2 wells • Loss of communications with subsea wells led to Longtom field shutdown in
Slide 17: Kipper and Golden Beach Sands AVO well correlation
Kipper and Golden Beach Sands AVO well correlation Kipper-1 – Judith-1 seismic section showing AVO Shuey Fluid Factor effect Well Cross-section – Kipper & Golden Beach reservoir sequences AVO Shuey: Base Golden Beach Sandstone 16
Slide 18: Five wells produce at 80 MMSCFD for 25 years
Five wells produce at 80 MMSCFD for 25 years Five well, 80 MMSCFD case produces 730 BCF over 25 years at conversative 33% RF using isolated blocks model Each well in 2020 3D-GEO dynamic model update: • Chokes gradually opened to produce 80 MMSCFD target • Conservatively assumed to produce at 20-30 M
Slide 19: Clear path to 80 MMSCFD plateau production
Clear path to 80 MMSCFD plateau production over 25 years via MOU with infrastructure partner APA APA to build, own, operate (BOO) the gas pipeline and processing plant leveraging existing Orbost gas plant location – substantially reducing the Project capital intensity Pre-FEED complete with APA, ena
Slide 20: Clear path to 80 MMSCFD plateau production
Clear path to 80 MMSCFD plateau production over 25 years via MOU with infrastructure partner APA 3.5 to 4 years from Judith-2 to first gas Month(s) Activity Post Judith-2 1-3 Subsurface work and Reserves certification Fast Track Opportunity 4-15 FEED FEED may actually commence, in particular environ
Slide 21: Judith well positioned in an attractive gas market
Judith well positioned to be a significant new gas supply into an attractively priced market The Australian Eastern States Domestic Gas Market continues to be supply constrained, whilst gas production continues to decline, creating mid to long term pressure on gas prices Gas supply from the ‘Develop
Slide 22: Judith well positioned in an attractive gas market
Judith well positioned to be a significant new gas supply into an attractively priced market Judith JV to sell gas into Eastern States network at A$10-12/GJ with potential upside from supply shortfalls AEMO’s 20-year gas price forecast scenarios: • Central scenario – uses AEMO’s best (central) view
Slide 23: Judith-2 Appraisal Well Proposed Location
Judith-2 Appraisal Well Proposed Location
Slide 24: Judith-2 Appraisal Well
Judith-2 Appraisal Well Judith-2 appraisal well objectives: Dry hole well cost (including well test planning), 1. Prove up more contingent resource from rig EOIs, of US$25m (semi-sub) a) Drilling of Judith-2 in the Central Block is • Semi-sub or jack-up rig (70m water depth) expected to access and i
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