Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Investor Presentation (December 2018)
21 slides from Pancontinental Energy Nl's investor presentation, Dec 14, 2018
Slide 1: Offshore Namibia PEL 87 Opportunity
OFFSHORE NAMIBIA PEL 87 OPPORTUNITY OUTLINE • LOCATION – ORANGE BASIN • ACTIVE FUTURE DRILLING ‐ ON TREND • DATA ‐ 3D OVER SATURN LEAD REQUIRED • SOURCE ‐ PROVEN OIL PRONE • CHARGE ‐ CONFIDENTLY MODELLED • RESERVOIR ‐ NEWLY IDENTIFIED GIANT APTIAN FAN COMPLEX • SEAL ‐ PROVEN IN OFFSET WELLS • RESOUR
Slide 2: Disclaimer
DISCLAIMER These materials are strictly confidential and are being supplied to you solely for your information and should not be reproduced in any form, redistributed or passed on, directly or indirectly, to any other person or published, in whole or part, by any medium or for any purpose. Failure t
Slide 3: PEL 87 - Regional Setting
PEL 87 - REGIONAL SETTING • Located offshore the Orange Basin • 100km NW of the Kudu syn-rift gas accumulation • Offset wells prove oil prone early post-rift source Wingat‐1 • Seismic mapping reveals Albo-Aptian fan overlying mature source rock • New play for Namibian basin (“Saturn”) PEL 87 • Oil r
Slide 4: PEL 87 - Competitor Activity
PEL 87 – COMPETITOR ACTIVITY * Pancontinental 75%, Operator • Licence commenced 23 January 2018 • 10,947 km2 block, offshore Orange Basin * High level of local activity (SHELL, TOTAL, KOSMOS etc) PANCONTINENTAL 75% PEL 37 Kudu Gas Field PEL 87 Pancontinental 20% Development Namcor 10% Custos 15% BIL
Slide 5: PEL 87 - Data & Offset Well Map
PEL 87 - DATA & OFFSET WELL MAP Outline of Saturn Fan Kabeljou‐1 (2012) mapped on 2D data High quality oil‐prone Aptian oil source and Albian shale top seal 2D DATA c. 2,800 kms licensed Spacing 5‐ 12 km Good Quality Moosehead‐1 (2014) High quality oil‐prone “early mature” Aptian oil source No effec
Slide 6: Proposed 3D and Adjacent Surveys
PROPOSED 3D AND ADJACENT SURVEYS Outline of Saturn Fan mapped on 2D data Existing 3Ds PROPOSED 3D ACQUISITION ~5,000 sq.kms PEL 87 6
Slide 7: Source Rocks
SOURCE ROCKS NEOGENE TERTIARY Cenozoic PALEOGENE WELL DEVELOPED MATURE OIL SOURCE IN PEL 87 LATE Late Drift CRETACEOUS Barremian‐Aptian Early Drift Transgressive Marine Shale EARLY Syn‐rift Pre‐K “Saturn” sub-marine fan complex 7
Slide 8: Source - Quality and Maturity
SOURCE - QUALITY AND MATURITY EARLY POST RIFT SOURCE (BARREMIAN-APTIAN) • Regionally correlatable “Kudu Shale” • Encountered in all offset wells (Kudu, Moosehead and Kabeljou) • 200m-300m thick • TOC ~4% (Max ~ 10%) HI~600 • Oil prone • Marginally mature in offset wells DEPTH & MATURITY MAP OF MID A
Slide 9: Moosehead-1 Source Rock (Weatherford & IPEX)
MOOSEHEAD-1 SOURCE ROCK (WEATHERFORD & IPEX) Oil‐prone Type I source. Lacustrine(?) – Marine. “Early” mature at well location 9
Slide 10: Saturn - Charge Mechanism (Strike Line)
SATURN - CHARGE MECHANISM (STRIKE LINE) • Saturn Fan is ideally located to receive • Oil tested from HRT Wingat-1 recovered charge from mature Kudu Shale from analogous Aptian sand. • Reservoir better developed at Saturn SATURN RESERVOIR INTERVAL NOT PRESENT IN MOOSEHEAD‐1 SATURN CAN BE CHARGED Moos
Slide 11: Dip Line Datumed on Half Seafloor
DIP LINE DATUMED ON HALF SEAFLOOR WEST EAST Water compensated Time Domain 2D seismic SATURN THICK SHALE SUPERFAN TOP SEAL INDEPENDENT CLOSURE HIGH AMPLITUDE DOWNLAP SHALE‐ON‐SHALE RESERVOIR MATURE SOURCE THICK SHALE BOTTOM SEAL ‐‐‐‐‐‐‐‐‐‐ & MATURE OIL SOURCE 10 Km COURTESY OF SPECTRUM GEO 11
Slide 12: Saturn - Regional Oil Migration Focus
SATURN - REGIONAL OIL MIGRATION FOCUS Depth Structure Map Mid Aptian Unconformity (Base of Saturn Fan) LOW Migration Focus (High at Top NO “THIEF” CHANNELS SATURN Saturn Fan) MAPPED UP‐SLOPE SUPERFAN FROM SATURN ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ 20 Km LOW PEL 87 12
Slide 13: Moveable Oil in Analogous Setting
MOVEABLE OIL IN ANALOGOUS SETTING WSW ENE Aptian Source Maturity (modified by Calima Energy after Bray & Lawrence 1998) PEL 87 Analogous setting to Saturn Fan in PEL 87 Calima Energy planning seismic Text from HRT (Mello 2014 ) Diagrams from Calima Energy “Oil and Source Rock Systems Offshore Namibi
Slide 14: Saturn Superfan - Reservoir Potential
SATURN SUPERFAN - RESERVOIR POTENTIAL • Well defined anomalous wedge overlying mid-Aptian Unconformity Top mounded facies • Seismic facies consistent with sandy facies within a dominantly argillaceous section (encountered in offset wells) • Fan mapped on 2D seismic with no eastern channel input (no
Slide 15: Postulated Albian Sediment Transport
POSTULATED ALBIAN SEDIMENT TRANSPORT SATURN SUPERFAN Bathymetry (m) • Seismically defined fan is mapped as being Core of detached from a feeder canyon located to Saturn fan the SE • Sediment transport (north) is consistent Mooosehead High (no reservoir) with present, and past, current directions • P
Slide 16: Seals - Top & Base Proven
SEALS - TOP & BASE PROVEN • Offset wells (Moosehead-1 and Kabeljou-1) shale dominated • Saturn top and base seals confidently mapped from offset wells THICK SHALE TOP SEAL • Local and regional slump detachments sole SATURN RESERVOIR out on Albo-Aptian, independently NOT PRESENT IN demonstrating top
Slide 17: Saturn - 2D Mapping
SATURN - 2D MAPPING • The Saturn turbidite complex covers 2,400 km2 and is about 280 m thick • Water Depth ~ 1,000m, Drill Depth ~ 3,000m Subsea * Saturn is located almost 100% within PEL 87 Onlap zero edge PEL 87 Onlap zero edge Onlap zero edge ~280m thick “ZERO” EDGE 200 MILLISECS TWT ISOCHRON Iso
Slide 18: Saturn Superfan - Component Parts
SATURN SUPERFAN - COMPONENT PARTS Lead F Lead A Channels at mid Mounded Aptian Facies Unconformity 289 sq kms LEAD C1 Structural Closure 45 sq kms LEAD C2 Structural Closure SATURN 32 sq kms SUPERFAN LEAD D 2,400 sq km Structural / Stratigraphic 721 sq kms Cenomanian Deepwater LEAD G Trend Basal Lob
Slide 19: How Much Oil Could Saturn Contain?
HOW MUCH OIL COULD SATURN CONTAIN? PROSPECTIVE OIL RESOURCES (RECOVERABLE OIL)* INDIVIDUAL LEADS PEL 87 Prospective Resources Lead Gross Prospective Resources Pancontinental Net Entitlement 1 Name GPoS MMbbls MMbbls P90 P50 Mean P10 P90 P50 Mean P10 Lead A 39 152 224 549 28 108 160 391 11% Lead C1 2
Slide 20: Farmout Outline
FARMOUT OUTLINE 5,600 SQ KM 3D SEISMIC FARMOUT Pancontinental holds a 75% interest and Operatorship of PEL 87, and is farming out for an accelerated 3D and Drilling programme Pancontinental is seeking a Farminee who will- (i) Undertake a minimum 5,500 sq km 3D seismic survey SATURN (ii) Drill minimu
Slide 21: Offshore Namibia
OFFSHORE NAMIBIA PANCONTINENTAL OIL & GAS NL Head Office – Level 1, 10 Ord Street, West Perth, Western Australia 6005 Postal Address - PO Box 1154, West Perth, Western Australia 6872 Telephone +61 8 6363 7090 Facsimile +61 8 6363 7099 ACN 003 029 543 www.pancon.com.au
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