Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Ord Minnett Mining Club (November 2023)
16 slides from Pancontinental Energy Nl's conference presentation, Nov 13, 2023
Slide 1: Presentation to Ord Minnett Mining Club
Presentation to Ord Minnett Mining Club 13 November 2023 ASX: PCL
Slide 2: Disclaimer
Disclaimer These materials do not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securities, nor shall any part of these materials or fact of their distribution or
Slide 3: Overview
Overview 1 ASX-listed oil & gas explorer, headquartered in Perth, lean organisation Prized acreage position in Namibian offshore, on-trend with recent multi-billion barrel oil 2 discoveries 3 Partnership with, and major investment from Woodside Energy Limited Processing and interpretation of recentl
Slide 4: Corporate Snapshot
Corporate Snapshot Capital Structure Board & Management ASX Code PCL Ernie Myers Chairman Shares on Issue 8.06 billion Barry Rushworth Executive Director Options on Issue 840 million (550 million listed) Vesna Petrovic Executive Director & Company Secretary Share price A$0.014 Iain Smith Adviser to
Slide 5: Why Offshore Namibia?
Why Offshore Namibia? • Global exploration hotspot as a result of giant oil & gas discoveries by Shell and TotalEnergies through 2022/23 • West African basins exhibit analogous geology to the prolific petroleum basins of offshore Brazil • Early Cretaceous opening of the Atlantic Margin created restr
Slide 6: Pancontinental's PEL 87
Pancontinental’s PEL 87 • Permit awarded 2018 • Pancon interest 75% • 10,970 km2 within Orange Basin • Offers very significant resource potential within reservoirs of comparable age and type to recent giant discoveries on-trend to the south • Entered into Option Deed with Woodside Energy in Namibian
Slide 7: Major Investment by Woodside Energy
Major Investment by Woodside Energy • Woodside has earned an option to acquire a 56% Participating Interest in PEL 87 • Woodside fully funded a US$35million+ 3D seismic survey Stage • If Woodside exercises the option then Woodside and PCL will enter 1 into a farmout agreement. Woodside will then: •
Slide 8: Namibian Orange Basin
Namibian Orange Basin • Historically underexplored, acreage tightly held • Water depths 200 metres to >3,000 metres Saturn • Basin developed through Jurassic-Cretaceous • Thick, high quality and regionally extensive Kudu oil shale source rock PCL PEL 87 Moosehead-1 Chevron GALP PEL 90 PEL 83 • Vast
Slide 9: TotalEnergies & Shell Discoveries
TotalEnergies & Shell Discoveries • TotalEnergies’ Venus oil discovery early 2022, estimated ~3 billion barrels oil recoverable • Venus was followed by Shell’s Graff discovery, estimated ~2 billion barrels oil-in-place Saturn • Both Venus-1X and Graff-1X have been production tested, reportedly with
Slide 10: Significance of Turbidite Systems
Significance of Turbidite Systems • Vast oil reserves discovered within turbidite systems either side of South Atlantic Margin, e.g. Campos Basin (Brasil) • Turbidites are regarded as the most significant petroleum reservoir system offshore West Africa • Delivery mechanism for sandstones into a deep
Slide 11: Turbidite Systems: 3D Seismic Expression
Turbidite Systems: 3D Seismic Expression Namibian Walvis Basin Examples. Source: https://www.eliis-geo.com/south-atlantic-austral-segment-the-new-exploration-hotspot-a.html PANCONTINENTAL ENERGY NL 11
Slide 12: Saturn Turbidite Complex
Saturn Turbidite Complex N Moosehead-1X S Seafloor • Saturn covers some 4,000 km2, with a core area of 2,400 km2 • Originally mapped on legacy 2D seismic data • Same stratigraphic level as the Venus discovery and shares the same source and sealing formations Top Seal • The entire complex is interpre
Slide 13: 3D Seismic Survey
3D Seismic Survey • Woodside-funded 3D seismic survey completed over the Saturn Turbidite Complex and surrounding area • Originally intended to cover an area of ~5,000 km2, at an estimated cost of US$35 million; subsequently increased by Woodside to 6,593 km2 (with no modification to Option Deed ter
Slide 14: Forthcoming Catalysts
Forthcoming Catalysts Direct 1 Q1 through Q2 CY2024: 3D PSDM results/interpretation/prospects & leads/prospective resource certification Woodside decision on exercise of option: Up to 180 days from delivery of final 3D PSDM Woodside will then assume operatorship and fully fund the drilling of an exp
Slide 15: Africa's Largest Prospective Oil Target?
Africa’s Largest Prospective Oil Target? The recent major discoveries in Namibian Orange Basin highlight PEL 87’s potential for hosting a world-class oil discovery. The scale and resource potential is considered by PCL to be comparable to giant turbidite-associated discoveries with analogous geology
Slide 16: Thank you
Thank you Level 2 30 Richardson St West Perth WA 6005 T: +61 8 6363 7090 pancon.com.au Authorised for release to ASX by the Board of Pancontinental Energy NL.
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