Adx Energy Ltd · ASX:ADX
Adx Energy — Shareholder Meeting (May 2017)
25 slides from Adx Energy's shareholder meeting presentation, May 31, 2017
Slide 1: AGM Asset & Corporate Update
For personal use only AGM ASSET & CORPORATE UPDATE 31 May 2017 www.adx-energy.com 1
Slide 2: Disclaimer
DISCLAIMER This document has been prepared by ADX Energy Ltd for the purpose of providing an activity update to interested analysts/investors For personal use only and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any co
Slide 3: Corporate Overview
Corporate Overview For personal use only Summary Capital Structure – Pre Rights Issue An ASX listed international energy Shares on Issue 929 million exploration and appraisal Company No of Shareholders 2,582 (ASX:ADX) Market Capitalisation @ 1.3 cents $ 12 million Asset refocus on low cost, low
Slide 4: Recent Trends and Activities
Recent Trends and Activities 18 Month Focus of Activities and Share Price Performance For personal use only “Focus on Nilde Resources Evaluation and Concept Definition” 4
Slide 5: Rights Issue Summary
Rights Issue Summary 1 for 5 Non-renounceable Rights Issue to raise up to $2,415,445. For personal use only Any Entitlement not taken up will form a Shortfall Offer that will remain open for up to three months following the Closing Date. Entitlement take up 86,534,242 Shares totalling $1,124,9
Slide 6: Geography
Geography - Sicily Channel (Tunisia and Italy) and Romania (Onshore) For personal use only Contains 1 Oil Field, 3 Oil and 2 Gas Discoveries * Combination of Development, Appraisal and Exploration * Variety of proven hydrocarbon provinces * Areas we know well technically and commercially 6
Slide 7: Extensive Mediterranean Position
Extensive Mediterranean Position - All Permits at 100% equity For personal use only Nilde Field 33 mmbo (2C) Contingent Resource ADX Feb 2017 Assessment Dougga West (oil) Prospect 227 mmboe Best case Prospective Resource Lambouka Recent Award Dougga Gas Condensate Tunisia Resource Potential (note 1)
Slide 8: Appraisal & Development Strategy
Appraisal & Development Strategy For personal use only ADX has large existing Contingent Resource base at the Nilde Oil Redevelopment and Dougga Gas Condensate Convert Large Discovery - converting these resources to reserves will Resource Base create exceptional value growth; to Reserves 1. Nilde
Slide 9: Nilde Oil Field Redevelopment
For personal use only NILDE OIL FIELD REDEVELOPEMENT 9 9 Photograph shows oil stained Nilde cores
Slide 10: Nilde Redevelopment Summary
Nilde Redevelopment Summary Background For personal use only Acquired as exploration permit, remaining potential of Nilde identified by ADX in late 2015, Lead-5 independently audited in February 2016 and project Nailia-1 Nilde-1 bis Lead-4 feasibility undertaken in 2016 / 2017 Nilde-2 Norma-1 Re
Slide 11: Nilde - Recent Progress
Nilde - Recent Progress For personal use only Resource Revision & Production Profiles for 1C, 2C & 3C Resources Case : Reservoir Simulation 33 mmbo for 2C COPL self-installing Mono Concept Selection & Column Platform (MCP) Collaboration Major CAPEX & OPEX savings Revenue Split 2 C Resource @ US$ 40/
Slide 12: Nilde Resource Definition
Nilde Resource Definition For personal use only 2C Contingent Resource (most likely) of 33 million barrels Nilde/Nilde Bis Contingent Resources1 1C2 2C2 3C2 2017 – Detailed Reservoir Modelling 21.7 32.8 49.8 2016 – Probabilistic Volumetrics (Senergy)2,3 18.0 28.4 38.8 Variance 3.7 4.4 11.0 Note 1&
Slide 13: Nilde Development Concept Selection
Nilde Development Concept Selection MCP & RPSO Facilities Option MCP – Leased Production Platform For personal use only Calm Oceans Pte Ltd (COPL) COPL has developed and constructed a self- installing Mono Column Platform (MCP) The MCP is capable of supporting a drilling rig, production processi
Slide 14: Nilde Economic Summary
Nilde Economic Summary Comments on Economic Results Post Tax NPV 10 vs's Oil Price For personal use only $1,200 NPV10 Range at current oil price between $1,000 US$ 200 to 650 Million Value US$ millions $800 All resources cases demonstrate high Range profitability, rapid paybacks and low oil pric
Slide 15: Nilde Immediate Way Forward
Nilde Immediate Way Forward For personal use only Funding and Farmout Taken longer than expected to get all required data & information for credible value proposition Resource, project feasibility and economics results to date are highly compelling Asset already generating significant interest
Slide 16: Dougga Gas Condensate Field
For personal use only DOUGGA GAS CONDENSATE FIELD 16 16 Photograph shows fractured Abiod reservoir outcrop, Tunisia
Slide 17: Dougga Gas Condensate Field - Background
Dougga Gas Condensate Field - Background (100% equity) The Dougga 1 well intersected approx 300 m gross gas For personal use only Nilde oil Dougga West (oil) column and tested condensate rich gas in 1981. field Prospect Dougga 1 is located in 328m of water, 45kms east of Cap 227 mmboe Best case
Slide 18: Dougga Gas Condensate Field - Contingent Resource Potential
Dougga Gas Condensate Field - Contingent Resource Potential For personal use only Contingent Resources Estimates 1C 2C 3C Dougga-West Total Oil Equivalent [mmboe] 88 173 268 Dougga Liquids: Condensate & LPG [mmbls] 47 91 142 Sales Gas [bcf] 264 517 804 Sources: Competent persons reports (CPR) by TRA
Slide 19: Dougga – Recent Progress
Dougga – Recent Progress For personal use only Revise work program from 3D Seismic and Exploration Renegotiate licence work Well to Geological Modelling, Development Concept program focussing on Studies, Drill a Dougga Updip Well and Productivity Test Dougga Area Appraisal the Well. 3D Petrel Reserv
Slide 20: Recent & Near Term Dougga Activities
Recent & Near Term Dougga Activities Recent variation to work program enabling drilling of For personal use only Dougga Sud 100% increase in Gas In Place Estimates based on recent geological studies Positive response to Drilling Rig EOI >> Q4 17 to Q218 TechnipFMC Dougga Concept Studies near
Slide 21: Parta Romania Exploration
For personal use only Parta Romania Exploration 21 21 Photograph shows Petrom oil field facilities a few kilometrs north of ADX Parta block
Slide 22: Parta – Romania Permit Progress
Parta – Romania Permit Progress - 50% equity interest and Operator For personal use only 30 months extension ratified with government in December 2016. 3D seismic over existing oil field indicating excellent “low hanging fruit” exploration potential 3D seismic permitting process completed 3D a
Slide 23: Parta 3D Seismic Value Creation Potential
PARTA 3D Seismic Value Creation Potential Appraisal Opportunity Example For personal use only Small 3D seismic inside ADX license already demonstrates potential to identify low risk appraisal drilling targets 23
Slide 24: ADX Forward Strategy
ADX Forward Strategy For personal use only A three pronged approach to build a sustainable growth platform with nearly all the necessary pieces in place A transformational near term development at Nilde Substantial value development at Dougga Exploration potential in the Sicily Channel and R
Slide 25: For personal use only
For personal use only Ian Tchacos Executive Chairman Paul Fink Chief Executive Head Office: Level 2, Suite 14 210 Bagot Road, Subiaco, WA, 6008 Tel: 61 8 9381 4266 Fax: 61 8 9381 4766 Website www.adxenergy.com.au Email admin@adxenergy.com.au ASX Code ADX 25