Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Austock Energy Conference (March 2011)
22 slides from Carnarvon Energy's conference presentation, Mar 9, 2011
Slide 1: Austock Energy Conference
Austock Energy Conference “Building a bridge to a sustainable future” For personal use only 10 March 2011 Presented by Ted Jacobson CEO www.carnarvon.com.au
Slide 2: Disclaimer
Disclaimer For personal use only The information in this document, that relates to oil exploration results and reserves, is based on information compiled by the Company’s General Manager (Operations), Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga consents to the inclusi
Slide 3: Conventional opportunities
Conventional opportunities For personal use only • Technology has improved substantially - 3D seismic, horizontal drilling & deep water drilling to name few • Yet we are discovering less conventional oil and gas - The heyday of oil discovery was from 1950 to 1980. - There is a growing gap between di
Slide 4: Project parameters
Project parameters For personal use only 1. Hydrocarbon Presence 2. Under Appreciated Asset • We are all looking for that advantage in finding good opportunities 3. Change In Perspective • These are desirable parameters in looking for new projects 4. New Information 5. New Focus Growth is underway 4
Slide 5: Carnarvon's goal
Carnarvon’s goal For personal use only • Using cash generated in Thailand to grow in SE Asia/Australia • Focus onshore and shallow water licences - Low guaranteed commitments - Affordable programmes • Two significant near term growth assets - Oil exploration/appraisal/production onshore Thailand - E
Slide 6: CVN Management Team
CVN Management Team For personal use only The Board • Chairman Peter Leonhardt Chartered Accountant • Ted Jacobson • CEO Ted Jacobson CEO Management Geologist Geologist • Bill Foster Engineer • Neil Fearis Corporate Lawyer • Small experienced team • Few operatorships to distract Experienced & fast a
Slide 7: Regional Focus - South East Asia and Australasia
Regional Focus- South East Asia and Australasia 50% For personal use only 42.5% 7.5% Exploration/Appraisal L20/50 L44/43, L33/43 and SW1A 60% Production 40% L52/50 and L53/50 50% Carnarvon Petroleum’s 50% 51% 25% focus is in the 24% South East Asian and Rangkas PSC Australasian region 50% 50% Phoeni
Slide 8: Value turnaround in Thailand
Value turnaround in Thailand For personal use only 1. Hydrocarbon Oil was being produced at Presence ~100 bopd from the Wichian Buri Field sandstone 8 reservoir 2. Under Appreciated Major oil companies such Asset as Shell, BP and Petrocorp had explored onshore Thailand discovering only one significa
Slide 9: CVN Share Price has increased over the past years
CVN Share Price has increased 7 times over the past 5 years For personal use only CVN Share Price New oil pool discoveries in Thailand L52/53 1 Thai drilling increases production 8,000 bopd Drilling Phoenix exploration 0.9 Drilling wells in Appraisal Thailand 0.8 Rangkas wells in Drilling 0.7
Slide 10: Carnarvon – A corporate snapshot
Carnarvon – A corporate snapshot For personal use only OPERATING CASH FLOW • 688m shares issued 45,000,000 • $275m Market 40,000,000 Capitalisation 35,000,000 30,000,000 • $29m Cash 25,000,000 • No Debt 20,000,000 15,000,000 • 25% Institutional Shareholding 10,000,000 5,000,000 • 9% Director and - S
Slide 11: Carnarvon Today
Carnarvon Today For personal use only P CVN oil production from Thailand operations P CVN produces 1 to 1.5 mmbbls annually P CVN generates over $30mm cash annually P Fully funded exploration programme in SE Asia/Australasia P Looking for more opportunities P Underlying profitability provides capita
Slide 12: Thailand production asset today - Reserves
Thailand production asset today - Reserves For personal use only 1P Reserves of 6.4mmbbls / 2P Reserves of 24.5 mmbbls* (*as at 31 December 2009) 2P Reserve growth 2P Reserves comprise 30 2P Reserves by Field (mmbbls) 25 NSE Central 2.2 20 1.4 NSE F1 15 7.2 1.5 Bo Rang Volc B 10 Bo Rang Volc A 5 3.4
Slide 13: Thailand production asset today - Production
Thailand production asset today - Production For personal use only Thailand Production History 5,000 4,500 4,000 3,500 bopd net to CVN 3,000 2,500 2,000 1,500 1,000 500 - Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Quarters Short term production va
Slide 14: Fully Funded Programme in CY 2011
Fully Funded Programme in CY 2011 For personal use only THAILAND L44/43 & L33/43 34 exploration / appraisal / development wells • 25% Sandstone reservoir appraisal • 50% Fractured reservoir appraisal • 25% exploration L20/50 Complete drilling of 2 wells (Carnarvon operator) L52/50 & L53/50 Pla
Slide 15: THAILAND - L20/50
THAILAND - L20/50 1. Hydrocarbon Permit sits immediately For personal use only Thailand Presence south and on trend with 200mmbbl Sirikit oil field 2. Under Appreciated Major oil companies drilled Asset this region in Thailand L20/50 50% L33/43 & without locating additional L44/43 Sirikit sized rese
Slide 16: THAILAND – L52/50 & L53/50
THAILAND – L52/50 & L53/50 Phun Phin-01 PP1 E-211, 210.49 6, 65.54 E-202, 445.29 5, 69.28 E-212, 225.62 - N-215 - 1. Hydrocarbon This permit sits For personal use only SP: 460.0 440.0 420.0 400.0 380.0 360.0 340.0 320.0 300.0 280.0 260.0 240.0 220.0 200.0 0.300 0.300 Presence immediately to the 0.40
Slide 17: AUSTRALIA - Phoenix Gas Discovery
AUSTRALIA - Phoenix Gas Discovery For personal use only Hydrocarbon 2 Gas discoveries in Presence 1980 & 1982 Phoenix-1 Phoenix-2 11.5% porosity 10% porosity Underappreciated BP drilled wells in 1980s. Assets Woodside also held the permits. CVN acquired in GFC Change In WA gas prices and LNG Keraudr
Slide 18: Phoenix gas resource is significant!
Phoenix gas resource is significant! Near top gas sand For personal use only depth map 0.35 TCF 120 km2 greater closure Phoenix -2 Phoenix -1 0.65 TCF Phoenix South Phoenix Field probabilistic recoverable gas resource Phoenix South Phoenix -1 Phoenix -2 1.5 TCF 2.5 TCF •Previous seismic Phoenix Sout
Slide 19: WA-435 to 438-P – key prospects and leads
WA-435 to 438-P – key prospects and leads For personal use only WA435P WA436P 50%CVN WA443P Bandy Lead 50%CVN 100%CVN Bedout Updip Base Cretaceous Leads Phoenix-1&2 Jaubert Phoenix Sth Short Arm Lead Roc Lead New 3D Seismic WA437P 50%CVN WA438P 50%CVN Basement Drape With acreage covering more than 2
Slide 20: INDONESIA - Rangkas PSC
INDONESIA - Rangkas PSC For personal use only 1. Hydrocarbon Direct evidence of live Indonesia Presence oil from seeps and shallow wells in the block Jakarta 2. Under Appreciated Previous wells (in 1991) Asset targeted shallow Numerous Oil Neogene carbonates Rangkas Shows and 25% CVN Seeps in permit
Slide 21: Shareholder Reporting Points
Shareholder Reporting Points For personal use only Drilling in L44/43 & L33/43 (Thailand) Ongoing Reserves Report (for Dec 2010) Late March 2011 Krai Thong-1 Well Results (L20/50) Mid March 2011 Seismic interpretation complete on Phoenix (Australia) July 2011 Farmout Phoenix Drilling 2nd H
Slide 22: Summary
Summary For personal use only Over $30mm annual cash flow from Thailand oil Currently $29mm cash No debt More to come from production licences in Thailand Gas appraisal project underway at Phoenix offshore Western Australia Exploration in Thailand, Indonesia, Australia & New Zealand Lo
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