Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (August 2013)
18 slides from Synergia Energy's investor presentation, August 2013
Slide 1: Portfolio Diversification: Unconventional Resource Focus
Portfolio Diversification Unconventional Resource Focus ASX / AIM: OEX August 2013
Slide 2: Important Information
Important Information Disclaimer The presentation in this projected form and as verbally presented (Presentation) is provided on the basis that none of the Company Directors nor its respective officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advi
Slide 3: Company Profile: Oilex Ltd (ASX / AIM: OEX)
Company Profile: Oilex Ltd (ASX / AIM : OEX) Oilex Ltd. has a diversified onshore oil and gas portfolio with a near-term drilling programme and potential production in India. ASX 12-month share price performance and volume Oilex is listed on the ASX and AIM 12 4500000 ASX $ AIM £ 4000000 10 3500000
Slide 4: Board and Management Team
Board and Management Team Max Cozijn Pete Bekkers Appointed as Non- Appointed Chief Executive Chairman Geoscientist in 2007 in 2003. Over 31 more than 16 years’ years experience in experience. administration of listed companies Sundeep Rob Ierace Bhandari Appointed as Chief Appointed as Vice Financi
Slide 5: Investment Highlights
Investment Highlights \ Diversified asset portfolio, focused on onshore tight/unconventional petroleum \ Large discovered independently certified resource base \ Objective: grow production, cash flow and reserves \ Cambay Project (INDIA – OEX Operator, 45% decreasing to a minimum of 30%) • Sale of u
Slide 6: NSAI Independent Resource Estimate for Cambay
NSAI Independent Resource Estimate for Cambay Unrisked Contingent Resource Estimates (the near term production and cash) Low (1C) Best (2C) High (3C) Oil Gas Oil Gas Oil Gas MMstb BCF MMstb BCF MMstb BCF Gross in place 831 672 1,633 1,314 2,888 2,297 Gross recoverable 31 180 83 495 179 1,073 Net OEX
Slide 7: Company Strategy: Acquire & develop unconventional resources
Company Strategy: Acquire & develop unconventional resources \ Deliver production growth (Cambay & Bhandut) • Complete technology transfer from North America • Creates sustainable cash flow • Convert Contingent Resources to Reserves \ Commercial Opportunity (Cambay) • Balance risk vs asset size • In
Slide 8: Cambay Asset: Overview
Cambay Asset: Overview \ Acreage • Cambay Basin: large producing province • Cambay Field: 161 km² (~40,000 acres) • Oilex drilled first horizontal Sabarmati Field multi-stage frac well in India \ Commercial Environment • Gujarat industrial heartland Cambay Field • Significant gas demand • Infrastruc
Slide 9: Why Cambay?
Why Cambay? Geology proven to deliver 2,800m prospective section 36 wells penetrated Eocene 16 vert. wells tested oil & gas High quality 3D seismic No free water observed Cambay-73 – GSA signed Initial 2 year term ? Pending Gov’t endorsement ~ 1km from C-76H & C-77H 1200 Mscfpd Average
Slide 10: The Magna Deal - why sell Cambay equity?
The Magna Deal - why sell Cambay equity? \ The Deal • Sell 10% equity for US$4million • Option over additional 5% for US$2million • Subject to pre-emption under JOA and GoI approvals under PSC • If transaction validly terminated, Magna cash is converted to OEX shares \ Rebalance asset risk profile •
Slide 11: Bhandut-3: Gas Production Leads To Cash Flow
Bhandut–3: Gas Production Leads To Cash Flow \ Bhandut Contract Area Bhandut PSC Area • 6km2 (~1,482 acres) • 19,385bbls cum. oil produced since acquisition in 2007 \ Isochronal test of 3.5m sand Possible Channel Sands ☼ • Below seismic resolution • Flowed 6.5MMscfd of dry gas Potential for addition
Slide 12: Active forward work programme to production and cashflow
Active forward work programme to production and cashflow 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 JV and Government Approvals 3 Work-Over Wells Ongoing Bhandut–3 Preparation Production & Sales Ongoing Cambay–73 Preparation Production & Sales Drill, Frac, Ongoing Prepare Cambay–77H & Mobilise Clean-Up
Slide 13: Portfolio Diversification: Wallal Graben, Western Australia
Portfolio Diversification: Wallal Graben, Western Australia \ Strategic rationale: • Low-cost, low-risk entry • Concentrated prospectivity • Long-term growth potential and diversity \ Oilex awarded Canning Basin SPA* covering 11,400 km²** • May be prospective for oil & liquids-rich gas • Geological
Slide 14: Wallal Graben: Seismic tells story
Wallal Graben: Seismic tells story \ Jump correlations with regional seismic data infer: • A near-complete Ordovician sequence is preserved L12-08 • Possible thick Goldwyer Formation - primary source rock L12-09 • Potential for additional organic-rich formations \ Low resolution gravity/magnetics da
Slide 15: Why the Wallal Graben Fairway?
Why the Wallal Graben Fairway? Cairn’s Rajasthan acreage at same scale \ Overlooked prospectivity: 7.3 Billion boe in-place 26 separate discoveries • Sparse gravity/magnetic data Production = 175,000 bopd • Vintage 2D seismic data • Analogous to Cairn India’s Rajasthan Play • Undrilled play fairway
Slide 16: Scorecard to 3rd quarter 2013
Scorecard to 3rd quarter 2013 Goals and Objectives Status Production Cambay–73 GSA signed, awaiting GoI endorsement Bhandut–3 tested 6.2MMscfd, EoI’s to buy gas × Work-overs on 3 Cambay wells limited success Cost Control/Cashflow Net corporate overheads reduced ~ 25% from 2012 Indian domesti
Slide 17: Oilex's Investment Proposition
Oilex’s Investment Proposition \ Strategic focus on the Cambay Asset centred on production, cash flow and reserves \ Cambay drilling operations tenders issued, bids received and evaluations in progress \ Use proven technology de-risks active forward work plan \ Growth potential beyond Cambay Wallal
Slide 18: Contact details
www.oilex.com.au Phone: +61 8 9485 3200 Email: oilex@oilex.com.au Twitter: @oilexltd