Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Investor Presentation (February 2017)
17 slides from Carnarvon Energy's investor presentation, Jan 31, 2017
Slide 1: Investor Presentation January / February 2017
For personal use only Investor Presentation January / February 2017
Slide 2: Disclaimer
Disclaimer For personal use only The Resource estimates outlined in this report have been prepared by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga has over 25 years’ experience in petroleum exploration and engineering. Mr Huizenga
Slide 3: Setting the scene: Overview
Setting the scene Overview For personal use only • NEW North West Shelf (“NWS”) hydrocarbon basin uncovered • Play previously thought too deep / tight, now significantly de-risked • Carnarvon provides the only ASX listed exposure to this acreage • Market value of Carnarvon is around $100 million (AS
Slide 4: NWS' most exciting exploration acreage
NWS’ most exciting exploration acreage Phoenix / Roc permits For personal use only • FOUR discoveries from four wells drilled by Carnarvon and partner • Commercial flow rates achieved, comparable with major NWS fields • Entire hydrocarbon province covers a very large ~22,000km2 • Carnarvon and partn
Slide 5: Commercial project taking shape
Commercial project taking shape Phoenix / Roc permits For personal use only • Multi-Tcf gas potential in a small tested area of the acreage • Remaining area has similar high potential • High proportion of condensate in all gas samples recovered • Engineering and commercial work commencing in 2017 •
Slide 6: Stop: how did we get to this point?
Stop: how did we get to this point? Phoenix / Roc permits For personal use only • 2009 Carnarvon secures interests in 4 permits in Government gazettal • 2011 play opening 3D seismic acquired, the first 3D in the basin • 2012 Apache Energy and JX Nippon farm in paying for two wells • 2014 Phoenix Sou
Slide 7: Roc-2 well delivered an historic flow
Roc-2 well delivered an historic flow Phoenix / Roc permits For personal use only • Roc-2 well flowed strongly for 6 days under controlled test conditions • At 51 million scf per day of gas and 2,943 barrels of condensate per day, being a high condensate to gas ratio of 58 bbls/mmscf. • Production e
Slide 8: Dorado prospect is the biggest target yet
Dorado prospect is the biggest target yet Phoenix / Roc permits For personal use only • Dorado is ~15 kilometres from Roc • Roc-2 flowed gas and condensate at commercial rates • Dorado is updip from Roc, and hydrocarbons migrate upwards • Dorado structure clear on 3D seismic and many times larger th
Slide 9: Dorado is the biggest target yet
Dorado is the biggest target yet Phoenix / Roc permits For personal use only A B Dorado structure Roc-1 Roc-2 Possible gas escape plumes due to high gas/condensate columns Possible Roc 2 tested upper sands in the Caley Fm. hydrocarbon indicators or hydrocarbon source rocks Seismic image of Caley sst
Slide 10: Phoenix South-2 potentially uncovered a play fairway
Phoenix South-2 potentially uncovered a play fairway Phoenix / Roc permits For personal use only • High gas influx and pressures experienced while drilling PS-2 Caley Sst • Pressure positive for porosity (higher volume) and permeability (higher flow rates) • High probability of sand prone reservoirs
Slide 11: More hydrocarbons in opportunity rich basin
More hydrocarbons in opportunity rich basin Phoenix / Roc permits For personal use only • Opportunity rich basin with substantial 3D seismic coverage • Enormous volume potential with new prospects being continually worked up • Significant intellectual property value in this play system • With play p
Slide 12: Location strategically important
Location strategically important Phoenix / Roc permits For personal use only • Phoenix and Roc discoveries lie ~160 kilometres offshore of Port Hedland • WA’s main gas pipeline passes Port Hedland • Fortescue River Gas Pipeline links main gas pipeline to Pilbara iron ore mines • LNG export facilitie
Slide 13: But wait, there's more: CVN's business model
But wait, there’s more CVN’s business model For personal use only • Carnarvon holds an additional 8 exploration permits • Objective being: – Complete technical work to identify oil and gas prospects to drill – Attract partners with capabilities to drill exploration wells – Receive partner contributi
Slide 14: Portfolio status
Portfolio status For personal use only • Buffalo – latest technologies being run on 3D data in this proven oil province • Maracas – plan to run latest 3D technologies over key prospects • WA-521 – very large leads identified on 2D, requires 3D to refine • Cerberus – Phoenix / Roc like plays awaiting
Slide 15: Investor opportunities: Where we see value
Investor opportunities Where we see value For personal use only • Volume update(s) following Phoenix South well result and ongoing work • New prospect identification (e.g. Dorado prospect didn’t exist 12 months ago) • Dorado well targeting large volumes in 2017 (subject to JV approvals) • Field deve
Slide 16: Questions
For personal use only 16 Questions
Slide 17: Think Different, Act Different
For personal use only Think Different Act Different 17
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