Petro Matad Limited · LSE:MATD
Petro Matad — Investor Presentation (November 2019)
23 slides from Petro Matad's investor presentation, Nov 11, 2019
Slide 1: Update on 2019 Activities
Block IV Block XX Block V Update on 2019 Activities
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Petro Matad Limited (the Company) and is for information purposes only. Some statements contained in this presentation or in documents referred to in it are or may be forward-looking statements. Such statements reflect the Company’s current views wit
Slide 3: Board of Directors
Board of Directors Chief Executive Officer: Mike Buck ▪ 40 years of international E&P experience including 9 years as COO of Salamander Energy ▪ Proven track record of exploration success in S. America, N. Africa and Asia. Directly involved in the discovery of more than one billion barrels of recove
Slide 4: Corporate Overview
Corporate Overview Petro Matad Limited ▪ London, AIM Listed (MATD), Mongolia focused ▪ Experienced Board and Management Team - Track record of discovering and monetizing oil/gas fields ▪ Large acreage position: 100% working interest in three blocks in Mongolia covering 60,000 km2 - Basins geological
Slide 5: Mongolia Oil Industry Update
Mongolia Oil Industry Update ▪ Petro Matad recently received the Daily crude production of Mongolia “Leading Explorer” award from the 30,000 2019 Estimated Actual Mongolian government Average daily crude (Source - MRPAM) production /bopd/ 25,000 (Source - Petro Matad) ▪ The Heron 1 discovery has exc
Slide 6: Proven Petroleum System in Mongolia and N. China
Proven Petroleum System in Mongolia and N. China Russia Recent Discovery Hilar-Tamsag Basin 0.5 Bbbls Rec Kazakhstan Mongolia Oil in shallow boreholes Recent Songliao Basin PETRO MATAD Junggar Basin Discovery 20 Bbbls Rec Proven Petroleum Systems 10 Bbbls Rec Erlian Basin 0.62 Bbbls Rec Santanghu Ba
Slide 7: 2019 Programme - Block XX Well Results
2019 Programme - Block XX Well Results Rig 40105 at Heron 1 7
Slide 8: 2019 Drilling Activity Block XX
2019 Drilling Activity Block XX • Drilled Heron-1, Red Deer-1 and Gazelle-1 wells during the period mid-July to mid-October 2019 • No Lost Time Accidents and completed within budget • Heron-1 and Gazelle-1 wells suspended as oil discoveries. Red Deer-1 P&A with oil shows • Heron-1 successfully drill
Slide 9: Heron-1 Depth Structure Map
Heron-1 Depth Structure Map 19-57/69 19-41 Field Field 19-46 ▪ 3D seismic shows 19-46 and Heron part of the same structure 19-46-1 ▪ Heron 1 well results confirm this 19-46-3 ▪ Total area of structure Block XIX c.21km2, 62% on Block XX Block XX ▪ Structure extends south and east into Block XX Heron-
Slide 10: Heron-1 Results Summary
Heron-1 Results Summary KBE (AGLE): 8.05m GLE (AMSL): 692.31m M MD LITH CSG WLL Results Summary 0 Depth m MD KBE TVD SS 100 17½" Cond GR TO SURFACE 19m 200 Intra Bayan Shiree Fm 300 ▪ Stratigraphy came in on prognosis 294 406 400 Top Upper Zuunbayan Fm 393 307 500 ▪ Lower Tsagaantsav Fm target sands
Slide 11: Petrophysical Analysis of Lower Tsagaantsav FM
Petrophysical Analysis of Lower Tsagaantsav FM Depth MD Top Lower Tsagaantsav Fm • Oil shows to base of sands (gross 77m thickness) • Oil down to base of sand at Zone ‘A’ 2820m 2880m. Consistent with offset Gross 12m, ɸ 14% 19-46 wells Test 2: Perforated 10.75m Flowed max. rate 821 bopd • Wireline l
Slide 12: Heron Area Upside
Heron Area Upside ▪ Fault terraces surrounding Heron (A to G) are structurally closed. Access to source likely based on oil seen in Heron 1 and DT4 ▪ Seismically defined limit of Lower Tsagaantsav Fm sets up basin 19-46 edge pinch out traps (H). Line of section Resource potential could be 19-46-1 on
Slide 13: Southern Tamsag Basin – Pinch out Trap
Southern Tamsag Basin – Pinch out Trap Heron-1 Basement Heron-1 trap extends updip to the south Combination structural/stratigraphic trapping likely in Lower Tsagaantsav Basin edge trapping where sands pinch out with Basement providing lateral seal and Upper Tsagaantsav shales providing top seal Pot
Slide 14: Gazelle-1 Results Summary
Gazelle-1 Results Summary Results Summary ▪ Provisional top of primary objective 60m deep to prognosis ▪ Limited reservoir development ▪ Wet gas shows and oil shows in sands above Tsagaantsav Fm ▪ Log analysis identified 3 metres of pay in two good quality sands ▪ Well suspended for possible future
Slide 15: Red Deer-1 Results Summary
Red Deer-1 Results Summary Results Summary ▪ Stratigraphy came in on prognosis ▪ Lower Tsagaantsav Fm target well developed with moderate to good reservoir properties ▪ Wet drilling gas shows below 1100m MD ▪ Oil shows in mud from 1140m to 1840m MD ▪ Preliminary geochemical analysis identified ‘Hot
Slide 16: Heron Rapid Commercialisation Potential
Heron Rapid Commercialisation Potential Tolson Uul CPF Southern oil export trucking road 19-46 oilfield ▪ Heron 1 c.20km south of Block XIX Central ▪ Block XIX electrical power supply and intra-field Processing Facilities (CPF) roads in place at 19-46-3 (1.1km from Heron 1) ▪ Spare ullage available
Slide 17: Provisional 2020 Work Schedule for Block XX
Provisional 2020 Work Schedule for Block XX 2020 Activity Q1 Q2 Q3 Q4 J F M A M J J A S O N D Secure Exploitation Licence Permitting Heron Production Appraisal / Development Drilling ▪ Looking to expedite Exploitation Licence approval and permitting in order to accelerate commencement of 2020 activi
Slide 18: Block V Prospects in Basins with Proven Petroleum Systems
Block V Prospects in Basins with Proven Petroleum Systems 2018 Snow Leopard 1 drilling operations 18
Slide 19: Proven Petroleum Systems in Block V
Proven Petroleum Systems in Block V Tugrug Basin TSC-1 Fox Deep Phoenix Fox Shallow Taats Basin Snow Leopard-1 Prospect Raptor Trend Lead Baga Bogd (mountains) 19
Slide 20: Block V Prospectivity - Post Snow Leopard-1
Block V Prospectivity - Post Snow Leopard-1 M Cret UC - Tert Undif. Post Well Studies confirmed that: ▪ Early Cretaceous aged of section 1085 - 2420m MD Albian (i.e. Lower Tsagaanstav Fm age) Source Rocks ▪ Late Jurassic aged section below 2420m MD Ber - Haut Maturity - Type ▪ Three source rocks pre
Slide 21: Velociraptor Prospect - Block V
Velociraptor Prospect - Block V ❑ Anticlinal closure over thick depocentre ❑ Source intervals in Snow Leopard 1 thicken to south. Short vertical migration pathways into Raptor Trend ❑ Shallow, good quality, sandstone reservoirs seen in Snow Leopard 1 likely sourced from basin bounding fault scarp to
Slide 22: Phoenix and Fox Prospects
Phoenix and Fox Prospects ❑ Oil in TSC-1 core hole proved a working petroleum system in Tugrug Basin ❑ 3D seismic reinterpretation has defined new prospectivity in addition to the large, basin centre Fox prospect (200MMbo mean recoverable prospective resource potential) ❑ Shallow four-way closure ov
Slide 23: Conclusions
Conclusions Eastern Mongolian acreage ▪ 2019 drilling programme completed. Post well studies underway ▪ Two discoveries. Heron 1 tested at much better than expected rate ▪ Reserves potential of 25+MMbo in Heron structure ▪ Near-field exploration prospects and leads in proven Tamsag Basin identified