Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — RIU Good Oil & Gas Energy Conference 2022
15 slides from Carnarvon Energy's conference presentation, Sep 7, 2022
Slide 1: Corporate presentation – Good Oil Conference
Corporate presentation – Good Oil Conference 7 September 2022 For personal use only Carnarvon Energy Limited (ASX:CVN) is pleased to provide the attached corporate presentation to be presented at the RIU Good Oil & Gas Energy Conference today. Approved by: Adrian Cook Managing Director Carnarvon Ene
Slide 2: RIU Good Oil & Gas Energy Conference Presentation
For personal use only RIU GOOD OIL & GAS ENERGY CONFERENCE PRESENTATION SEPTEMBER 2022 CONFERENCE PRESENTATION carnarvon.com.au GENERATING VALUE THROUGH THE ENERGY TRANSITION 1
Slide 3: Disclaimer
For personal use only Disclaimer The resource estimates outlined in this presentation are based on and fairly represent information and supporting documentation prepared by Carnarvon’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the company. Mr Huizenga has over 25 ye
Slide 4: Company profile
Company profile For personal use only A proven explorer focusing on the Indonesia Northwest Shelf of Australia Pavo 0.40 Timor 0.35 Condor Project Eagle Project AC/P 62 100% AC/P 63 100% Darwin 0.30 Truscott 0.25 Katherine Wyndham Dorado & Pavo Kununurra WA-435-P 20% 0.20 WA-436-P 30% WA-437-P 20% D
Slide 5: Investment snapshot
Investment snapshot For personal use only WORLD CLASS ASSETS LOW-COST DEVELOPMENT TIER 1 LOCATION IN PROVEN HYDROCARBON REGION EXPERIENCED OFFSHORE STRONG CASH GENERATION EXPLORATION UPSIDE OPERATOR IN SANTOS GENERATING VALUE THROUGH THE ENERGY TRANSITION 4
Slide 6: The Dorado discovery
The Dorado discovery For personal use only The Dorado-1 exploration well discovered 162 MMbbls (2C, gross) of light oil and condensate-rich gas across four stacked reservoirs Schematic image of Dorado wells Discovery history 18 July 2018 Oil discovery at Dorado-1 with significant oil accumulation in
Slide 7: Dorado development
Dorado development For personal use only NOT TO SCALE FEED substantially complete O F F T A K E T A N K ER W H P T O P S I DE • 100,000 bpd of high quality (~50 deg API) oil F P S O ( H U L L & T O P S I DE) • LPG-rich gas re-injected to enhance oil recovery O F F L O A D I NG H O S E & R E E L • 16
Slide 8: Pavo discovery
Pavo discovery For personal use only • Discovered March 2022 in 88m of water • Pavo South resource potential of 47 MMbbls (100% basis, mean) and 51% • Pavo-1 intersected gross hydrocarbon chance of success package of 60m, with net pay of 46m, within the Caley Member • Evidence from recent analysis s
Slide 9: Pavo tie-back
Pavo tie-back For personal use only Integration of Pavo with the Dorado facilities enhances value generation Dorado WHP Dorado FPSO Pavo North • Pavo-1 oil discovery is ~46km east of Dorado • Within simple tie-back range to proposed Dorado facilities • Low ~300 scf / bbl GOR complements Dorado produ
Slide 10: Exploration potential
Exploration potential For personal use only Prolific basin with extremely low finding cost of less than A$2/boe¹ Carnarvon has equity over most of the Bedout sub-basin • 20% in Western permits (WA-435 & WA-437) including Dorado oil & gas • 30% in Eastern permits (WA-436 & WA-438) including Pavo oil
Slide 11: Dorado funding activity continues
Dorado funding activity continues For personal use only Dorado’s attraction • Strong debt servicing capacity SENIOR DEBT MEZZANINE FINANCE DIVESTMENT - Low operating cost per barrel • Process commenced 2H • Finance in addition to • Azure Capital engaged - Material early free cash flows calendar 2021
Slide 12: Investment summary
Investment summary For personal use only A high quality energy portfolio in Western Australia World class foundation assets in Dorado and Pavo • Low-cost development in shallow water with an experienced operator (Santos) • High quality liquids • Strategically located near Asia Pacific refineries, wi
Slide 13: Appendices
For personal use only Appendices GENERATING VALUE THROUGH THE ENERGY TRANSITION 12 12
Slide 14: Bedout Basin Contingent Resources
Bedout Basin Contingent Resources For personal use only Gross basis Oil and Condensate Natural Gas Barrels of Oil Equivalent 1 MMbbl BCF MMboe 1C 2C 3C 1C 2C 3C 1C 2C 3C Dorado 86 162 285 367 748 1358 176 344 614 Pavo North 26 43 62 6 11 17 27 45 65 Roc 12 20 35 205 332 580 48 78 137 Bedout Project
Slide 15: Bedout Basin Selected Prospective Resources
For personal use only Bedout Basin Selected Prospective Resources Gross basis Light Oil Natural Gas Barrels of Oil equivalent Pg MMbbl BCF MMboe % P90 P50 Mean P10 P90 P50 Mean P10 P90 P50 Mean P10 Pavo South 13 47 55 107 3 12 14 28 14 49 57 112 51% Net CVN basis Light Oil Natural Gas Barrels of Oil
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