Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — Shareholder Meeting (November 2013)
28 slides from Carnarvon Energy's shareholder meeting presentation, Nov 15, 2013
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 15 November 2013
Slide 2: Chairman's address to shareholders
For personal use only Chairman’s address to shareholders 1
Slide 3: Agenda
Agenda For personal use only 1. OPENING AND NOTICE OF MEETING 2. CHAIRMAN’S ADDRESS 3. RECEIPT AND CONSIDERATION OF JUNE 2013 FINANCIAL STATEMENTS 4. VOTING ON RESOLUTIONS 1 - 4 5. CLOSURE OF ANNUAL GENERAL MEETING 6. MANAGING DIRECTOR’S PRESENTATION AND QUESTIONS 2
Slide 4: Voting Proxies Summary
Voting Proxies Summary For personal use only Total number of proxy votes in respect of which the appointments specified that: The proxy is to The proxy may The proxy is to The proxy vote for the vote at the vote against the abstained on resolution proxy’s discretion resolution the resolution Resolut
Slide 5: Chief Executive Officer's address to shareholders
For personal use only Chief Executive Officer’s address to shareholders 4
Slide 6: Disclaimer
Disclaimer For personal use only The information in this document, that relates to oil exploration results and reserves, is based on information compiled by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga consents to the inclusion of
Slide 7: Strategy
Strategy The Company aims to create value for shareholders from assets with the For personal use only following characteristics: Conventional oil and gas reservoirs Near proven resources Onshore or shallow offshore In the North West Shelf (NWS) and South East Asian regions Where there is a
Slide 8: Investment highlights
Investment highlights Western Australia – 5 NWS permits Thailand – 5 E&P concessions For personal use only Balanced country portfolio for growth Proven highly profitable oil fields Unexploited opportunities Significant acreage still to be explored New opportunities being worked on Potent
Slide 9: Carnarvon's senior technical team
Carnarvon’s senior technical team Suggested topics to discuss following the AGM For personal use only Igneous V1 horizon in the recently acquired L33/43 3D area Ted Jacobson 1. Geology and history of the NWS 2. Prospectivity of Phoenix South 3. Other areas of interest on the NWS Philip Huizenga 1. T
Slide 10: Australian portfolio review
For personal use only Australian portfolio review 9
Slide 11: Introduction to Phoenix blocks
Introduction to Phoenix blocks For personal use only Success Enhanced by proximity to proven gas and modern 3D seismic data. Scale Two multi Tcf structures to drill with inventory of prospects and leads. Time First well to spud imminently, with Apache renowned for moving quickly. Economics Attractiv
Slide 12: Where are the next big fields on the NWS?
Where are the next big fields on the NWS? Increasing exploration activity trending north / east of Carnarvon Basin For personal use only Apache Phoenix-1 gas discovery Apache Woodside Woodside Woodside Apache Main Carnarvon Basin oil and gas fields Woodside Woodside Near top gas (241T) Carnarvon’s d
Slide 13: Woodside's first North West Shelf gas discoveries
Woodside’s first North West Shelf gas discoveries Goodwyn Field Woodside was a:- For personal use only Water Depth 133 m Distance to Port 136 km Hydrocarbon Column 610 m Small exploration company Closure Area 163 km2 EUR 7 TCF in 1960’s. Secured large NWS frontier acreage. Exploration commence
Slide 14: Phoenix South & Roc prospects on the same scale
Phoenix South & Roc prospects on the same scale Phoenix South Prospect For personal use only Goodwyn Field Water Depth 133 m Water Depth 133 m Distance to Port 148 km Distance to Port 136 km Hydrocarbon Column Note 1 Hydrocarbon Column 610 m Closure Area ~50 km2 Closure Area 163 km2 EUR Note 2 EUR 7
Slide 15: The potential to become the next province
The potential to become the next province Multiple prospects and leads in addition to Phoenix South and Roc prospects For personal use only Phoenix South-1 well 1 (spud expected late 2013) 4 3 6 Roc prospect 2 WA WA WA (contingent well under farmout) 435 436 443 Phoenix-1 well Bandy oil lead 1 Phoen
Slide 16: Step 1, drill near proven gas
Step 1, drill near proven gas Phoenix South-1 well is ~ 13kms from Phoenix-1 well For personal use only • ~5 km from edge of Phoenix structure to edge of Phoenix South structure • ~13 km between Phoenix-1 and Phoenix South-1 well locations Roc Prospect (contingent well under farmout) Phoenix-2 well
Slide 17: Timing
Timing Phoenix South-1 well expected to spud mid Dec. 2013 to mid Jan. 2014 For personal use only Atwood Eagle semi submersible drilling rig. Near top gas (241T) depth surface from the Phoenix 3D seismic survey Apache has the rig under contract for Phoenix South-1 well 16
Slide 18: Development
Development Potential scale of the resource and proximity to infrastructure provides multiple options For personal use only Asset Domestic Gas Liquids LNG Feed Domestic Gas LNG Project realisation Asset Swaps Stripping Supply Swaps (all or part) 17
Slide 19: Markets
Markets Gas supply volumes to drive prices, WA and Asian demand is projected to remain strong For personal use only Western Australian domestic gas LNG exports to Asia Current gas price in WA ~A$8 / GJ Current LNG pricing in Asia is ~US$15 / GJ North West Shelf Project (NWSP) main supplier I
Slide 20: 2013 NWS highlights
2013 NWS highlights 2013 achievements Western Australia – 5 NWS permits For personal use only 2 blocks farmed out Phoenix South-1 now ready to drill CVN free carried to US$50m cap CVN 20% interest Rig secured & due mid Dec 2013 to mid Jan 2014 Roc Prospect advanced technically CVN free
Slide 21: Thailand portfolio overview
For personal use only Thailand portfolio overview 20
Slide 22: Asset Overview
Asset Overview Onshore Thailand Production For personal use only 3 concessions onshore Thailand – L33/43, L44/43 and SW1A Location Located 300km north of Bangkok Carnarvon: 40% Working Interest Towngas: 60% (Operator) Geology Oil produced from volcanic and sandstone reservoirs 8 major pr
Slide 23: Exploration and development plans
Exploration and development plans Staged development planned initially in six key areas in 2014 work program For personal use only Development wells in WBEXT igneous following 3 1 WBEXT-2C well results 2 WBEXT exploration and development wells 2 in L33/43 on new 3D seismic data 4 1 5 Development wel
Slide 24: L52/50 & L53/50
L52/50 & L53/50 Wildcat onshore exploration in Southern Thailand For personal use only Seeking new partner to share risk and cost Disciplined investment approach Prospects have been identified Requires $7m-$10m investment Carnarvon owns 100% 23
Slide 25: 2013 Thailand highlights
2013 Thailand highlights 2013 achievements Thailand – 5 E&P concessions For personal use only 8 sandstone development wells drilled Water injection program commenced 100km2 of new 3D seismic acquired, processed and interpreted ready for drilling in early 2014 Detailed technical work by ope
Slide 26: Looking forward
For personal use only Looking forward 25
Slide 27: Transformation opportunities + foundation asset
Transformation opportunities + foundation asset For personal use only 26
Slide 28: Thank you
For personal use only You are now invited join the Directors and staff from Carnarvon Petroleum for refreshments Thank you Ground Floor 1322 Hay Street West Perth WA 6005 Telephone: +61 (8) 9321 2665 Fax: +61 (8) 9321 8867 www.carnarvon.com.au
Carnarvon Petroleum — Shareholder Meeting (November 2013) on 6ix