Geo Exploration Limited · LSE:GEO
Geo Exploration — Global Petroleum — BEOS conference 2023
18 slides from Geo Exploration's conference presentation, Apr 25, 2023
Slide 1: Namibia: hunting for giants
Namibia: hunting for giants Paul Howlett Global Petroleum Limited
Slide 2: Global Petroleum – a snapshot
Global Petroleum – a snapshot • Australian-registered public company • Quoted on the London Stock Exchange’s AIM market • The management team is based in London • Successful capital raises of over £4 million in last 2 years to progress the PEL94 exploration licence in Namibia & for working capital •
Slide 3: Namibia: a new world-class oil province
Namibia: a new world-class oil province • World-class source rock: Kudu Shale. Chased by Impact, GALP & others • Shell, TotalEnergies & ExxonMobil farmed in years ago • QatarEnergy farmed in for the Graff and Venus exploration wells • Discovery of multiple billions of barrels of oil at Venus, Graff
Slide 4: Global Petroleum in Namibia
Global Petroleum in Namibia • Global’s licence PEL94, 5798 sq. km, 78% and operator • Previously held adjacent PEL29 licence for 10 years from 2010 • PEL94 commitment: acquire 2,000 sq. km of 3D seismic data • Main prospects are Welwitschia Deep and Marula with 881 and 411 MMbbl gross mean prospecti
Slide 5: PEL94: prospects and leads
PEL94: prospects and leads • Portfolio of >3.5 billion barrels Gross Mean Prospective Resources (within PEL94) across 9 prospects & leads 5
Slide 6: Kudu Shale source rock in Walvis Basin
Kudu Shale source rock in Walvis Basin Not deposited • Source rock present, is of excellent quality (Albian-Aptian carbonates on and generating oil in southern Walvis Basin volcanics) at (Murombe-1 & Wingat-1) 1911/10-1, 1911/15-1 & DSDP 363 • Not present on sandy shelf or on the 2213/6-1: no source
Slide 7: Kudu Shale source rock in Walvis Basin
Kudu Shale source rock in Walvis Basin 1911/10-1 & 1911/15-1: no source Moderate chance of effective Dolphin Basin rocks in Lower Cretaceous (Albian Kudu Shale source presence • Inverted, de-tuned and carbonates on Barremian volcanics) Good chance of effective Kudu PEL94 Shale source rock presence b
Slide 8: Walvis Basin: Maturity and expulsion
Walvis Basin: Maturity and expulsion Transformation Ratio Present Day (0 Ma) • Worked with IGI on a number of petroleum systems models • On the left is the source rock maturity map (Transformation Ratio) for the Kudu Shale: the eastern half of PEL94 is mature • On the right is the oil expulsion map
Slide 9: PEL94 licence: migration & oil seeps
PEL94 licence: migration & oil seeps Data from Clément Blaizot SAR Satellite Oil Seep Expert • The inset (centre) shows interpreted oil seeps (green) around the Marula prospect (orange) • Some seeps are spatially associated with seabed cores in which gas has been sampled and which themselves are abo
Slide 10: Walvis Basin: Albian carbonate reservoir
Walvis Basin: Albian carbonate reservoir • Albian shallow water, oolitic carbonates • Reservoir for the Welwitschia Deep prospect 10
Slide 11: Welwitschia Deep prospect
Welwitschia Deep prospect • Very large tilted fault block • Albian carbonate reservoir analogous to production in Angola, Congo and Brazil • Regional migration focus: petroleum systems model predicts >11 billion barrels migrates to the structure • Gross Prospective Resources on PEL94 only: mean 881
Slide 12: Walvis Basin: deep water clastic reservoirs
Walvis Basin: deep water clastic reservoirs • Upper Cretaceous and Lower Paleocene deep water sandstones • Reservoirs for the Marula prospect and the eastern leads 12
Slide 13: Marula prospect
Marula prospect • Upper Cretaceous deep water sandstone reservoir • Dip-closed towards sand input direction, distal pinchout (proven by Welwitschia-1A well) • Migration via fault to reservoir and up-dip into trap: amplitude and AVO anomalies conform to structure • Gross Prospective Resources: Mean 4
Slide 14: Eastern leads: seismic example
Eastern leads: seismic example S 0454 ‘White’ N Soft Mass Flow 0400 Top Maastrichtian 500 msecs MTD 2 TWT MTD 2 MTD 3 0550 Cenomanian unconformity 0454 ‘White’ amplitude map MTD 1 MTD 2 • Existing prospective resources based only on 0454 ‘white’ Quiver Tree Quiver Tree • Mapping leads at other level
Slide 15: Eastern leads & new 3D seismic
Eastern leads & new 3D seismic • Existing 3D seismic data over Welwitschia Deep and Marula prospects • >2 billion bbls prospective resources in the leads in the eastern PEL94 • Further interpretation ongoing in this area, so these numbers will change: number of leads increasing Existing New 3D seism
Slide 16: Fiscal Regime and Economics
Fiscal Regime and Economics • Namibian fiscal terms are highly competitive on a global scale: • Economics for both the Marula and Welwitschia Deep prospects are very robust 16
Slide 17: Material opportunity in a new oil province
Material opportunity in a new oil province • Venus, Graff & Jonker have proven a new petroleum province, underpinned by the Kudu Shale source rock, which extends to Global’s licence PEL94 • >3.5 BBO Gross Mean Prospective Resources in 9 prospects & leads • Drill-ready prospects already covered by 3D
Slide 18: For more information, please contact
For more information, please contact Paul Howlett Peter Elliott Exploration Manager Director Global Petroleum Limited PVE Consulting Limited paul@glo-pet.com Peter.elliott@pveconsulting.co.uk +44 (0)7876 058857 +44 (0)7971 073198 18