Axp Energy Limited · ASX:AXP
Axp Energy — Austin Exploration — Investor Presentation (September 2014)
21 slides from Axp Energy's investor presentation, September 2014
Slide 1: On the Wings of the Eagle Ford
Company Presentation ON THE WINGS OF THE EAGLE FORD September 2014 Company Presentation – September 2014
Slide 2: Disclaimer
Disclaimer Statements made by representatives of Austin Exploration Limited during the course of this presentation that are not historical facts are forward-looking statements. These statements are based on certain assumptions made by the Austin Exploration Limited based on management’s experience a
Slide 3: First three 'Eagle Ford' well results
First three ‘Eagle Ford’ well results Kaiser # 2H – 30 day Initial Production Rate = 20, 550 BOE (91% Oil) Nemo #1H – 30 day Initial Production Rate = 18, 390 BOE (91% Oil) Stifflemire #1H – 30 day Initial Production rate = 25,890 BOE (87% Oil) Repeatability: 100% Success Company Presentation – Sept
Slide 4: Austin's Team
Austin’s Team The TEAM. It all starts here. US Management Team Dr. W. Mark Hart Guy Goudy Lonny Haugen Ola Akrad Timothy Hart Juan Carlos Aaron Goss CEO & Managing COO and CFO VP Engineering VP & GM Carratu VP & GM Director Executive & Technology Kentucky VP & GM for Southern Director Business Unit
Slide 5: Project Portfolio
Project Portfolio Perfectly Positioned for the US SHALE BOOM Company Presentation – September 2014 5
Slide 6: Reserves & Resources
Reserves & Resources NPV $401.56 Million / NPV10 $91.61 Million Austin Exploration's Gross Contingent Resources Oil Resources, Solution Gas Resources, BSCF Projects MMBbl (Million Barrels) BSCF(Billion cubic feet) P90 P50 P10 P90 P50 P10 Texas-Birch Prospect (Austin Chalk) 3.480 7.080 14.450 19.870
Slide 7: Technical Excellence
Technical Excellence Finding the source of the world’s oldest oil fields Forward thinking • First movers - Acquired acreage in 2011. • Halcón Resources announces in 2014 the property as being the sweet spot of the Eagle Ford • 6 well Eagle Ford program underway. First well produced 25,890 BOE in fir
Slide 8: Eagle Ford & Niobrara
Eagle Ford & Niobrara Focusing on the big two oil basins Texas - Eagle Ford Shale • Stifflemire #1 produced an IP rate of 1066 B0EPD • Well produced 25,890 Boe in 30 days ( 87% oil) • Property entirely de-risked • Proven Operator – Halcón ramping up drilling program • 3 wells drilled and undergoing
Slide 9: Eagle Ford Shale – Texas
Eagle Ford Shale – Texas Confirmed by Halcón in 2014 as the new Eagle Ford ‘Sweet Spot’ Working Interest Net Revenue Interest Owner (WI) (NRI) Austin Exploration (AKK) 30% 22.5% Burleson County, Texas Company Presentation – September 2014 9
Slide 10: Eagle Ford Project
Eagle Ford Project FIVE EAGLE FORD WELLS SUCCESFULLY DRILLED IN 2014 Significant project position surrounded by the majors • Halcón Resources – free carried for three 10,000 ft horizontal wells in 2014 • PetroMax Operating – carried for a 10,000ft horizontal well in 2014/2015 • ~ $8 - $10M/well (30%
Slide 11: Austin Pathfinder Project
Austin Pathfinder Project Second oldest oil field in the US • In 1862, oil was discovered in Oil Creek • In 1862, oil discovered is good API quality with low water production • The Pierre formation is from the Cretaceous age • 15.5 million barrels of oil have been produced in the Pierre formation fr
Slide 12: Pathfinder Niobrara Project
Pathfinder Niobrara Project 100% of 11,560 – BIG enough for 200+ wells Proven targets • Niobrara formation • Pierre Shale Exploration success • Well #1 – Successful vertical exploration well • Well #2 successfully drilled with 16 frac stages over a 4100ft horizontal leg – IP RATE: 403 BOEPD • Well #
Slide 13: Pathfinder Niobrara Project
Pathfinder Niobrara Project Looking better than the best Austin was first to successfully drill and produce from a horizontal well into the Niobrara in the Florence Field Company Presentation – September 2014 13
Slide 14: Pierre Wells in Florence
Pierre Wells in Florence 15 million barrels produced – Right next to us • Property held by mining companies prior to Austin • Oil reserves in virgin territory • Quick pay back with low capital cost & low risk wells • Provides fast cash flow • Drilled simultaneously with Niobrara wells • 1st in the a
Slide 15: Pathfinder Gas Gathering & Processing
Pathfinder Gas Gathering & Processing Converting 24 Billion Cubic Feet of Gas into revenue • Gas Processing Plant begins operations in August CIG • Processes valuable heavy gases and boosts cash flow Industrial Markets • Converts gas into pipe line quality Processing • No Capital outlay for Austin P
Slide 16: Kentucky Conventional
Kentucky Conventional With a 4,000-Acre position, the Joint Venture has steadily enhanced operations by increasing production to 35 BOPD from 0.7 BOPD in 2012 Source: Kentucky Geological Survey, Modified. Source: Austin Exploration Company Presentation – September 2014 16
Slide 17: Mississippi Conventional
Mississippi Conventional Adams County, Mississippi is successfully operating and developing the Wilcox Formation Well Name IP Depth Formation 6,445’ – 6,450’ Ellislie No. 1 82 BOPD Armstrong Sands TVD: 6,585’ 6,445’ – 6,450’ Armstrong No. 1A 135 BOPD Baker Sands TVD: 6,650’ Bourke No. 4 6,108’ – 6,1
Slide 18: Investment Rationale
Investment Rationale Austin’s 20,000 acres across five proven hydrocarbon basins in the US expected to support more than 300 wells 100% success in exploration drilling Low price entry into two of the most prolific oil basins in the United States – the Eagle Ford Shale in Texas & The Niobrara shale i
Slide 19: Summary
Summary Texas Birch – Eagle Property is de-risked: Kaiser # 2H – 30 day Initial Production Rate = 20, 550 BOE ( 91% Oil) Nemo #1H – 30 day Initial Production Rate = 18, 390 BOE ( 91% Oil) Stifflemire #1H – 30 day Initial Production rate = 25,890 BOE ( 87% Oil) Colorado Pathfinder property: First Hor
Slide 20: Corporate Snapshot
Corporate Snapshot Corporate Statistics AKK 12 Month Historical Price Performance ASX Code AKK Shares on Issue 2.62 b Market Capitalisation $0.02 $52M Cash $3M Enterprise Value EV $49M USA: OTCQX International ADR ticker: (1 ADR: 100 common shares) AUNXY $2.05 Board and Management Richard Cottee Cha
Slide 21: Corporate Information
Corporate Information Austin Exploration Limited Auditor Level 9, 575 Bourke St. Grant Thornton Melbourne, VIC, 3000 Level 2, 215 Spring Street Australia Melbourne, VIC 3000 Phone (03) 9606 3888 (03) 8663 - 6000 Fax (03) 9606 3800 www.granthornton.com www.austinexploration.com Austin Exploration Inc
Austin Exploration — Investor Presentation (September 2014) on 6ix