Synergia Energy Ltd · LSE:SYN

Synergia Energy — Oilex — Investor Presentation (October 2016)

24 slides from Synergia Energy's investor presentation, October 2016

  1. Slide 1: Multi-TCF Onshore Gas in India

    MULTI-TCF ONSHORE OCTOBER 2016 GAS IN INDIA www.oilex.com.au twitter @oilexltd

  2. Slide 2: Important Information

    IMPORTANT INFORMATION Nature of the presentation This presentation has been prepared by Oilex Ltd (Oilex). It is current as at the date of this presentation. It contains information in a summary form and should be read in conjunction with Oilex’s other periodic and continuous disclosure announcement

  3. Slide 3: Important Information

    IMPORTANT INFORMATION Risks and forward looking statements An investment in Oilex shares is subject to known and unknown risks, many of which are beyond the control of Oilex. In considering an investment in Oilex shares, investors should have regard to (amongst other things) the risks outlined in th

  4. Slide 4: Cambay – Unlocking Value

    CAMBAY – UNLOCKING VALUE 1 Prolific Cambay Basin – long history of production 2 Large gas resource volume confirmed – requires technology shift 3 Oilex driving technology shift – two horizontal wells already drilled and stimulated 4 India has declining domestic gas production and growing LNG imports

  5. Slide 5: Setting the Scene

    SETTING THE SCENE Page 5

  6. Slide 6: Oilex Background

    OILEX BACKGROUND Head office in Perth, Western Australia Project office in Gandhinagar, Gujarat, India Main project in India, tight gas in prolific Cambay Basin Operated in India for approximately 10 years including several wells drilled Dual listed ASX & AIM Page 6

  7. Slide 7: Company Profile

    COMPANY PROFILE REVITALISED TEAM BOARD & MANAGEMENT CAPITAL STRUCTURE Max Cozijn Non-executive Chairman OEX AIM ASX Over 35 years experience in administration of listed companies. Brad Lingo Non-executive Director Share price (19 October 2016) £0.0046 $0.008 Over 30 years of oil and gas leadership r

  8. Slide 8: Page 8

    Page 8

  9. Slide 9: Why India

    WHY INDIA STRONG ENERGY FUNDAMENTALS BP Statistical Review Primary energy consumption in India grew by 5.2% in 2015 of World Energy June Domestic natural gas production fell 3.8% in 2015 2015 and 2016 YOY LNG imports increased by 14.8% in 2015 INDIA DOMESTIC NATURAL GAS DEMAND SUPPLY 1,000 800 Deman

  10. Slide 10: Project Background – Size of the Prize

    PROJECT BACKGROUND SIZE OF THE PRIZE Page 10

  11. Slide 11: Cambay Project

    CAMBAY PROJECT LOCATION AND OWNERSHIP 40,000 acres Nearby to national pipeline infrastructure Gujarat State is one of Cambay India’s major industrial Tarapur regions. Oilex – 45% GSPC – 55% Oilex is operator Page 11

  12. Slide 12: Cambay Project – Multi-TCF Tight Gas Play

    CAMBAY PROJECT MULTI-TCF TIGHT GAS PLAY Gas in the ground is confirmed in multiple horizons, producing since 1957 Work historically focussed on production from shallower Miocene and Oligocene oil and gas pools (MBS & OS-II); potential for unswept areas remain Oilex is targeting multi-TCF low permeab

  13. Slide 13: Cambay Field

    CAMBAY FIELD IDENTIFIED HYDROCARBONS: MULTIPLE HORIZONS Hydrocarbon saturations and production in multiple zones in many old wells Entire contract area covered by quality 3D seismic Conventional Production MBS 1000m OS-II Potential unswept areas in OS-II EP-IV 2000m Deccan Tight Gas Traps 3000m Camb

  14. Slide 14: Tight Gas Target

    TIGHT GAS TARGET Cambay-11 EP-III/IV SILTSTONE (X/Y ZONE) • Flowed trace oil and gas Cambay-05 • 2.8 MMscfd + 46 bcpd • 4.1 MMscfd + 170 bcpd • 3.1 MMscfd + 74 bcpd Over 30 historic wells have intersected EP-IV in Cmbay Cambay-19z Cambay-63 & 70 • Intermittent oil producers PSC • ~0.8 MMscfd + 200 b

  15. Slide 15: Resource Statement

    W Cambay-19z Cambay-73 Cambay-23z Cambay-40 E RESOURCE STATEMENT OSII PREPARED BY RISC* X Zone Top Eocene Y Zone Contingent Resource for EP-III / IV (X / Y Zone) – 100% Z Zone Base EPIV Gas volume (bcf) Condensate Volume (million bbl) Basement 1C 2C 3C 1C 2C 3C 478 926 1616 27 61 121 Table shows gro

  16. Slide 16: Path Forward

    PATH FORWARD Page 16

  17. Slide 17: Joint Venture Terms

    JOINT VENTURE TERMS AGREEMENT WITH GSPC FOR C-78 VERTICAL WELL Oilex proposes to drill C-78 vertical well in 2017 Well to be sole fund / sole reward drilling program Oilex pays 100% of costs, and earns 100% of revenue GSPC has back-in right Well C-78 will be undertaken in accordance with JOA terms a

  18. Slide 18: Technical Plan

    TECHNICAL PLAN GAINING MOMENTUM Proposed C-78 well has two objectives: • Acquire EP-IV core to gather information on fluid saturations and optimal drilling, completions and stimulation technology • Test shallower OS-II reservoir for potential production of unswept areas Proposed workovers of existin

  19. Slide 19: Well Schematic

    WELL SCHEMATIC C-78 DUAL OBJECTIVE Total depth estimated at approximately 2200 metres OS-II estimated at 1650 metres Two 18 metre cores planned to be taken in the EP-IV OS-II Post core recovery, EP-IV to be isolated for possible production testing of the OS- II reservoir EP-IV EP-IV stimulation prog

  20. Slide 20: Drilling Budget and Timetable

    DRILLING BUDGET AND TIMETABLE CURRENT ESTIMATE Activity US$’000 Comments Pre-operations and planning 50 Well design, tendering Drilling and OS-II completion 2,371 Drilling, coring, OS-II completion OS-II Testing 58 10 day test Workovers 250 Up to two workovers Total 2,729 Includes 10% contingency Pa

  21. Slide 21: Next Steps in Cambay

    NEXT STEPS IN CAMBAY OILEXLTD

  22. Slide 22: Activity Program

    ACTIVITY PROGRAM DRILL VERTICAL WELL IN 1H 2017 Complete C-78 vertical well: • acquire core to optimally design future EP-IV development drilling and gather information on hydrocarbon and water flow rates • test shallower OS-II un-swept horizon • prepare FDP to support PSC extension • Subject to cor

  23. Slide 23: Australian Exploration

    AUSTRALIAN EXPLORATION Page 23

  24. Slide 24: Oilex in Australia

    OILEX IN AUSTRALIA Prospect LARGE EXPLORATION UPSIDE, CANNING BASIN, WA Low cost entry Access to entire sub-basin S Approximately 3 million acres S 100% participating interest Frontier exploration – East African Rift analogue Multiple play types anticipated Large structural closures Extensive fan sy

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