Ptr Minerals Limited · ASX:PTR
Ptr Minerals — Petratherm — Shareholder Meeting (November 2010)
35 slides from Ptr Minerals's shareholder meeting presentation, Nov 24, 2010
Slide 1: ASX Release: Annual General Meeting Presentation
ASX Release PETRATHERM LIMITED ABN 17 106 806 884 Annual General Meeting Presentation Chairman - Derek Carter, Managing Director - Terry Kallis and Exploration Manager - Peter Reid will later today present to the Annual General Meeting of Petratherm’s shareholders in Adelaide. The attached presentat
Slide 2: Media contacts
Yours faithfully Terry Kallis Managing Director MEDIA CONTACTS: Terry Kallis Petratherm Ltd 08 8274 5000 Kieran Hall / Tim Hughes Hughes Public Relations 08 8412 4100
Slide 3: Summary of Chairman's Report
Annual General Meeting, 2010 for Petratherm Limited Summary of Chairman’s Report The Paralana 2 deep well was successfully completed. Temperature measurements at 3672 metres confirmed a temperature of 176 degrees, with expectations of a temperature of 190 degrees at 4,000 metres; Preliminary fraccin
Slide 4: Petratherm AGM 2010 Corporate and Projects Update
Petratherm AGM 2010 Corporate and Projects Update Chairman Derek Carter Managing Director Terry Kallis Exploration Manager Peter Reid November 2010
Slide 5: Slide 5
Slide 6: Disclaimer and competent persons statement
Disclaimer and competent persons statement Disclaimer In particular, they speak only as of the date of this To the extent permitted by law, Petratherm and its This presentation has been prepared by Petratherm document, they assume the success of officers, employees, related bodies corporate and Limi
Slide 7: Presentation Overview
Presentation Overview › Chairman’s comments › Commercial and projects overview › Paralana fracture stimulation program
Slide 8: Chairman's comments - highlights
Chairman’s comments - highlights › Paralana 2 deep well successfully completed › Temperature of 176˚C at 3,672m confirmed and 190˚C expected at 4,000m › Strong government support for Paralana JV project - awarded a new $62.8 million grant › Enel Green Power deal to jointly develop all electricity pr
Slide 9: Chairman's comments – looking forward
Chairman’s comments – looking forward Need clearer policy & regulatory framework for geothermal energy › Price on carbon › Capital funding of projects › Investment in network connection This will drive investment in geothermal companies and projects
Slide 10: Petratherm overview
Petratherm overview Our company MADRID & BARCELONA Direct use heat, EGS & hydrothermal › Leading Australian geothermal exploration and development company CHINA TENERIFE & Exclusive GRAN CANARIA Conventional exploration agreement › Projects spanning Australia, volcanic Spain and China PARALANA › Pro
Slide 11: Petratherm - Corporate and financial
Petratherm - Corporate and financial Listed ASX:PTR › Shares on Issue: 111.7 m › Share Price: $0.135 › Market Cap: $ 15.08 m › Cash Position: $ 1.75m (31 Oct. 2010) › Shareholders: 3,655 shareholders › Minotaur Exploration 18.4 % › Australian Ethical Investments 5.1 % Paralana JV Funding and Grants
Slide 12: Highly capable array of joint venture partners
Highly capable array of joint venture partners › Beach Energy › Top four Australian ASX listed oil and gas company located in Adelaide and with interests in Australia, Europe and Africa › TRUenergy Geothermal › Wholly owned subsidiary of CLP group – listed on the Hong Kong stock exchange – and the l
Slide 13: Paralana joint venture arrangements
Paralana joint venture arrangements › Beach Energy Farm-in (Jan 2007) for up to $28m for 36% plus equity share of project costs at every stage › First $5m for first well and $2.7m for stimulation – earns 21% › Contributes at 21% for second well and stimulation › After demonstration of geothermal flo
Slide 14: Paralana joint venture and government grant arrangements
Paralana joint venture and government grant arrangements › JV Projects stages › Demonstration of flows – two wells and circulation 1st well finished and temperature confirmed › Pilot plant – up to 7.5 MW › Commercial demonstration – up to 30 MW › $7m GDP grant is applied to demonstration of flows
Slide 15: Paralana Project – Commercial Plan
Paralana Project – Commercial Plan Small off grid market (5-30MWe) (Heathgate) followed by potential large on grid development (260 MWe+) Expenditure well leveraged for proof of concept, then potentially fully funded to initial commercial demonstration scale 30MWe plant Funding and expertise f
Slide 16: Spain – Enel Green Power deal and Tenerife volcanic project
Spain – Enel Green Power deal and Tenerife volcanic project › Joint development of all electricity producing projects in Spain and Portugal › Direct and external exploration costs shared 50:50 › Tenerife is an active volcanic island, MT indicates a possible hydrothermal system may be present › Popul
Slide 17: Tenerife – conventional volcanic project
Tenerife – conventional volcanic project › Slim line 2km well (refer map) to test for a hydrothermal system, 50% PTR cost ~ $1.3m › Geochemistry indicates presence of a hydrothermal system of at least 240˚C › 50 MW development– targeting between 7 MW and 15 MW per production well with high prices, o
Slide 18: Tenerife – project economics
Tenerife – project economics (assumptions are estimates only) Project Assumptions › Bottom hole temp. 250°C, re-injection temp.105°C › Flow rate 100 litres/sec. › Output per producer well – 12.7 MW › 25 MW power plant and total capital cost (wells, plant and transmission) - € 77m › Power sale price
Slide 19: Petratherm - a standout in the Australian geothermal sector
Petratherm - a standout in the Australian geothermal sector The Company is considered a standout amongst its peer companies in the ASX listed Australia geothermal sector because it has; › a unique exploration approach for identifying shallow “hot spots” that does not rely on information from previou
Slide 20: Paralana Project – Regional Picture
Paralana Project – Regional Picture *Please note Competent Persons Statement near beginning of presentation
Slide 21: Paralana Project – Basin Geology
Paralana Project – Basin Geology *Please note Competent Persons Statement near beginning of presentation
Slide 22: 2D seismic line SPG 84, showing well geology and faults
2D seismic line SPG 84, showing well geology, interpreted reflectors and principal faults *Please note Competent Persons Statement near beginning of presentation
Slide 23: 2D seismic interpretation of faults and fractures
2D seismic interpretation suggests faults and fractures may be regionally extensive below a thick quartzite sequence (Seismic Line 84 SPG) *Please note Competent Persons Statement near beginning of presentation
Slide 24: Paralana 2 Well Summary
Paralana 2 Well Summary Depth 4003m (G.L. AHD) Slow ROP due to hard formations Well cased and cemented to 3720m Measured Temp. = 176 oC at 3672 m; Extrapolated bottom hole temp. is 190 ± 2 oC at 4000m depth. *Please note Competent Persons Statement near beginning of presentation
Slide 25: Paralana 2 – Below 3400m Section – Brine Intersected
Paralana 2 – Below 3400m Section – Brine Intersected High torque, intervals of high ROP’s, drilling breaks and increased in well bore deviation Followed by inflow of over pressured geothermal Brines between 3670 and 3864 m Shut in pressure indicated approx. 3,300 psi, of overpressure and mud s
Slide 26: Paralana 2 - Lower Stratigraphy
Paralana 2 - Quartzite Lower Statigraphy Interpreted Adelaidean Age (~ 800 Ma) Highly Competent -110 MPa to 200 MPa Major Unconformity at 3397m May be a natural partial seal Mesoproterzoic Meta-Sediment time equivalent to Benagerie Ridge/Mt 3400m Painter Basement Inter-bedded meta-siltston
Slide 27: Passive seismic array
Passive seismic array IESE (Institute of Earth Science and Engineering NZ) one deep borehole sonde at 1790m in Paralana 1b six borehole sondes at 200m eight surface seismometers two accelerometers MEQ - Array Managed by IESE *Please note Competent Persons Statement near beginning of presen
Slide 28: MEQ Real time monitoring
MEQ Real time monitoring ~~? a s
Slide 29: Regional and Local Seismic Events
Regional and Local Seismic Events Results from April 2008 to Sept. 2010 *Please note Competent Persons Statement near beginning of presentation
Slide 30: Pre-stimulation Seismic Events
Pre-stimulation Seismic Events April 2008-Sept.2010 • Relatively small local events detected • Largest event 0ML • Correlates with faults within the Poontana Fracture Zone *Please note Competent Persons Statement near beginning of presentation
Slide 31: Fracture stimulation programme – next stage of work
Fracture stimulation programme – next stage of work Stage 1 - Injectivity / Minifrac test at base of well bore Inject small volume of water to confirm fracture initiation and propagation Derive information on insitu stress regime, reservoir properties, test see if already connected to over- pr
Slide 32: Stage 1 Injection / Mini Frac Test
Stage 1 Injection / Mini Frac Test August Work Period Pressure Test OK Soft Tags from 2900m to 3200m then hit hard tag Follow up slick-line survey 3 weeks later found no obstructions Well casing integrity confirmed End November Period Coil Tubing unit to replace heavy brine with water Ca
Slide 33: Fracture stimulation programme – next stage of work
Fracture stimulation programme – next stage of work Fracture stimulation Inject larger volume of water at higher rates Volumes and stepped injection rates dependent on micro-seismic response Aims to create and activate natural fracture network intersected in the well. Targeting MEQ activity
Slide 34: Outlook for 2011 and beyond
Outlook for 2011 and beyond Paralana JV project milestones 1st Qtr 2011: Main fracture stimulation 2nd half 2011: drilling of the Paralana 3 deep producer well 2nd half 2011: Circulation Test – Proof of Concept 2012: Commission first stage 3.75 MW power plant
Slide 35: www.petratherm.com.au
www.petratherm.com.au