Adx Energy Ltd · ASX:ADX
Adx Energy — Investor Presentation (November 2018)
20 slides from Adx Energy's investor presentation, Nov 29, 2018
Slide 1: ADX Assets & Strategy
ADX ASSETS & STRATEGY A European focused appraisal and development company By Ian Tchacos November 2018 www.adxenergy.com 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by ADX Energy Ltd for the purpose of providing an activity update to interested analysts/investors and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any commitments, representat
Slide 3: Company Overview
COMPANY OVERVIEW ASSET SUMMARY CORPORATE SUMMARY Strategic Mediterranean ASX Code ADX Position Nilde Oil Redevelopment Project Offshore Sicily Shares on Issue 1,133 million 100% equity Nilde Oil 33 MMBO 2C Resources No of Shareholders 2,545 Project (Subject to Ratification) Recently secured Fa
Slide 4: Key Asset Attributes
KEY ASSET ATTRIBUTES Offshore Mediterranean Nilde Oil Re - Development Project - Appraisal and Development Assets - Offshore Italy (100% ADX) Material remaining oil resource Dougga Gas Condensate Project (Independently Assessed) - Offshore Tunisia (100% ADX) Field prematurely abandoned due to lo
Slide 5: Key Asset Attributes (Continued)
KEY ASSET ATTRIBUTES (Continued) Onshore Romania - Appraisal, Development and Exploration Calacea oil and gas plant Parta Appraisal Project (ADX has 71% interest in Danube SPV) Proven appraisal potential (redrill of Appraisal previously tested wells with multiple pay Program Area zones now defined
Slide 6: Achievements to Date
ACHIEVEMENTS TO DATE Asset Definition and Corporate Development 1. Resource and Project Concept studies have been completed for all assets 2. Information Memorandums and Data Rooms have been prepared for all assets 3. Progressing Farmouts / Funding for all assets Parta Appraisal Program - Secured
Slide 7: Investment Proposition
INVESTMENT PROPOSITION Three technically mature Appraisal & Development Assets – All are transformational for ADX Operated assets with high equity interests & material Independently Assessed Contingent Resources Well developed and credible Development Concepts have been matured. Creating mul
Slide 8: Dougga Gas-Condensate Project Offshore Tunisia
DOUGGA Gas-Condensate Project Offshore Tunisia “A Long Life Strategic Asset” 8
Slide 9: Dougga Gas Condensate Project Summary
DOUGGA Gas Condensate Project Summary Material Long Life Gas Project: Top Abiod (reservoir) depth map, showing Dougga-Sud well location • Large 70km2, 3D-defined gas-condensate discovery • 122 MMBOE 2C Resource Independently Assessed with long-lived revenue stream • 84MMCFD sale gas & 12,800BPD (LPG
Slide 10: Dougga – History and Market Relevance
DOUGGA – History and Market Relevance Project History Dougga Base Case Production (Ideal Product Yields) Dougga Discovered by Shell in 1981 ADX 3D seismic acquired in 2010 Nearby Lambouka gas discovery 2010 Arab Spring interruption 2011 Dougga feasibility studies 2017 Dougga Sud Appraisa
Slide 11: Dougga Viability and Expansion Opportunities
DOUGGA VIABILITY AND EXPANSION OPPORTUNITIES Advances in Dougga Project Viability • Low risk emerging MENA economy with accelerating 10% per annum GDP growth • Excellent access to gas infrastructure • Desperate need for domestic gas and LPG • Resource well defined with 3D seismic • High flow assuran
Slide 12: Nilde - Oil Redevelopment Project Offshore Italy
NILDE - Oil Redevelopment Project Offshore Italy “A Highly Profitable, Rapid Pay Back Asset” Appraisal development drilling delayed due to License Ratification – The recently announced farm out to SDP Energy to fund entire Euro 21 million permit work program is expected to enable the commencement of
Slide 13: Nilde Oil Field Redevelopment – Low Cost & High Returns
NILDE Oil FIELD REDEVELOPMENT – Low Cost & High Returns Project History Original FPSO • Oil field developed in early 1980s with primitive FPSO Development and well production technology 1982 - 1988 • Prematurely abandoned due to drop in oil price to US$ 14 per bbl and inability to deal with water pr
Slide 14: Nilde Oil Field Redevelopment – Project Concept
NILDE Oil FIELD REDEVELOPMENT – Project Concept High Degree of Project Definition • Collaboration and alignment with highly reputable and capable facilities providers (Calm Oceans Pte Ltd and SPEC Energy) • Mobilisation, installation, integration and lease proposals received for all facilities An Op
Slide 15: Nilde Oil Field Redevelopment – Indicative Economics
NILDE Oil FIELD REDEVELOPMENT – Indicative Economics Comments on Economic Results Contractor NPV(10) vs Oil Price • NPV10 range at US$55/bbl oil price $1,400 between US$300 – 950 Million 1C Base Case 3C $1,200 NPV(10) (US$ million) • All resources cases demonstrate high $1,000 profitability, rapid p
Slide 16: Parta Appraisal and Development Onshore Romania
Parta Appraisal and Development Onshore Romania “A Low Risk, Rapid Pathway to Cash flow” 16
Slide 17: Parta Appraisal, Development & Exploration
PARTA APPRAISAL, DEVELOPMENT & EXPLORATION Asset Summary Parta Appraisal & Exploration Assets • ADX Operator of Parta Appraisal and Exploration License Current Ownership Structure Reabold • Recent purchase of Iecea Mare Production license (100%) ADX Energy Ltd (Australia) Resources Plc (UK)* • ADX i
Slide 18: Parta Appraisal, Development & Exploration
PARTA APPRAISAL, DEVELOPMENT & EXPLORATION Appraisal Program Objectives: Re-drill and test two historic gas discoveries to: • Test previously confirmed gas reservoirs • Appraise potential gas reservoirs identified but not tested • Explore deeper targets not previously intersected. • Determine gas
Slide 19: Parta Appraisal, Development & Exploration
PARTA APPRAISAL, DEVELOPMENT & EXPLORATION Economic Potential Appraisal Well Scenario Post Tax NPV10 (US $ millions) $90 Excellent IRR from ranging from 39% to 79% $80 High Revenue Split and Rapid pay backs less $70 than 3 years in all cases $60 Excellent ROI range from 3.7 to 10.3 $50 $40 A
Slide 20: One Small Company Multiple Organic Growth Opportunities!
One Small Company Multiple Organic Growth Opportunities! Ian Tchacos – Executive Chairman www.adx-energy.com 20