Antelopus Selan Energy Ltd · NSE:ANTELOPUS
Antelopus Selan Energy — Selan Exploration Technology — Investor Presentation (March 2021)
30 slides from Antelopus Selan Energy's investor presentation, March 2021
Slide 1: Selan Exploration Technology Limited Corporate Presentation
Selan Exploration Technology Limited Corporate Presentation March 2021 Page 1
Slide 2: Contents
Contents q Company Overview q Asset Overview & Field Facilities q Development Plans & Upside Potential q Fiscal Terms q Valuation Selan Exploration Technology Limited Page 2
Slide 3: Company Overview
COMPANY OVERVIEW Selan Exploration Technology Limited Page 3
Slide 4: Company Overview
Company Overview n Founded in 1985, Selan is an established hydrocarbon producing company operating 3 oil & gas fields in prolific Cambay Basin in Gujarat, India since 1995 CB-ONN-2009/8 Karjisan n Publicly listed and traded on NSE & BSE Lohar n 100% Ownership of all assets ó ~82.48 MM BOE Oil Ognaj
Slide 5: Corporate Highlights
Corporate Highlights Impressive Track Record Proven capability to maximize potential of marginal fields • Cumulative production of 3 major fields prior to Selan – 125 K BOE (in approximately 25 years) • Cumulative production from major fields under Selan – 4.42 MM BOE (in approximately 24 years) Low
Slide 6: Impressive Profit Margin
Impressive Profit Margin CUMULATIVE REVENUE, LIFTING COST, PROFIT PETROLEUM, CAPEX $ MILLION 250000 REV $226 MM 200000 150000 100000 GOVT $13 MM 50000 0 CAPEX $85 MM 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20
Slide 7: Impressive Profit Margin (Per BOE)
Impressive Profit Margin (Per BOE) CUMULATIVE REVENUE, LIFTING COST, PROFIT PETROLEUM, CAPEX $ PER boe 60 50 40 30 20 10 0 19 6 19 7 19 8 19 9 20 0 20 1 20 2 20 3 20 4 20 5 20 6 20 7 20 8 20 9 20 0 20 1 20 2 20 3 20 4 20 5 20 6 20 7 20 8 20 9 20 0 1 -9 -9 -9 -9 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -1 -1 -1
Slide 8: Board of Directors
Board of Directors Rohit Kapur Chairman Mr. Kapur is a graduate of Columbia College (BA) and Columbia Business School (MBA) and is a former General Manager of a Fortune 100 Company for one of its international subsidiaries. A seasoned entrepreneur with international experience, he has played a pivot
Slide 9: Asset Overview & Field Facilities
ASSET OVERVIEW & FIELD FACILITIES • Cambay Basin • Bakrol Field • Lohar Field • Karjisan Field • Field Infrastructure Selan Exploration Technology Limited Page 9
Slide 10: Cambay Basin Overview
Cambay Basin Overview n Basin area 59,000 sq. km n Discovered resources of over 15 Bn. Barrels n Balance proven reserves of over 750 MMBOE Karjisan n 178 discrete fields with median size 18 sq. km Lohar n Multi-Stack Reservoirs - Several producing & Ognaj Bakrol prospective layers n Major Producing
Slide 11: Cambay Basin Stratigraphy
Cambay Basin Stratigraphy Kalol – Prolific Conventional Oil formation • Lohar – Producing from K-III • Karjisan - Producing from K-IV & K-III • Bakrol - Producing from K-IX & K-VIII • Ognaj – Tested in K-IX & K-X Cambay Shale – Producing formation with significant upside potential • Bakrol – Deeper
Slide 12: Asset Summary
Asset Summary Key Facts Bakrol Lohar Karjisan Total Block Area (sq. km) 36 5 5 46 Reservoir Kalol Kalol Kalol Major Reservoir Depth 1500 1350 1350 API Gravity (-) 35-41 20 18 Formation Permeability (mD) 30 ~1000 ~1000 Dead oil viscosity @ 50° C (cP) 20 300 600 Drilled Wells/Producing Wells 29/23 13/
Slide 13: Asset Status and Prospects
Asset Status and Prospects Resources Unit Bakrol Lohar Karjisan Total Oil in 2P Oil In Place MMBO 60.80 2.60 2.9 66.30 Place Low geological risk Cum. Production MMBOE 3.38 0.85 0.19 4.42 • Fields extensively mapped with 3D Seismic and Cum. Recovery to date % 6 33 7 7 infill drilling • Integrated sta
Slide 14: Bakrol – Location & Field Overview
Bakrol – Location & Field Overview n 36 sq. Km. block. n Discovered O&G 2P : 60.8 MMBO + 15.1 MMBOE of Gas n ONGC discovery 1968 in BK-2 (Kalol) n Selan awarded Field in 1995 under pre-NELP PSC n ONGC Cum. Prodn. 35 K BOE from 7 wells. n Selan Cum Prodn. 3.38 MMBOE from 29 wells n Currently 23 of 29
Slide 15: Lohar – Location & Field Overview
Lohar – Location & Field Overview n 5 sq. Km Block. n Discovered O&G 2P : 2.50 MMBO + 0.03 MMBOE Gas n ONGC discovery in 1981 LH-1 (Kalol) n Selan awarded field in 1995 under pre-NELP PSC n ONGC drilled 3 wells Cum prodn. 10.8 K BOE n Selan Cum Production 0.85 MMBOE from 13 wells n Currently 6 out o
Slide 16: Karjisan – Location & Field Overview
Karjisan – Location & Field Overview n 5 sq km block. n Discovered O&G 2P : 2.711 MMBO + 0.23 MMBOE Gas n ONGC discovered the Karjisan Field in 1985 by drilling the KJ- 1 well which produced gas from Kalol-III formation of Middle Eocene Age n Selan was awarded the Karjisan Field on 16th Feb 2004 und
Slide 17: Typical Field Facilities
Typical Field Facilities Selan Exploration Technology Limited Page 17
Slide 18: Development Plans & Upside Potential
DEVELOPMENT PLANS & UPSIDE POTENTIAL •Bakrol •Lohar •Karjisan Selan Exploration Technology Limited Page 18
Slide 19: Phased Production Enhancement Plan (Upto 2030)
Phased Production Enhancement Plan (Upto 2030) Resources Unit Bakrol Lohar Karjisan Total 2P Oil In Place Oil MMBO 60.8 2.6 2.9 66.3 Cum. Production Oil MMBO 3.38 0.85 0.19 4.42 Cum. Recovery Factor Oil % 6 33 7 4.71 Phase Development Oil MMBO 0.91 0.25 0.21 1.37 Baseline Volume Gas MMBOE 0.43 0.19
Slide 20: Bakrol - Development Potential
Bakrol - Development Potential n Field producing from 23 of 29 wells n Range of productivities n Majority of wells need artificial lift to produce n The extension of PSC tenure for Bakrol Field has recently been approved by GoI and now runs through March 2030. n With the renewal now in place and the
Slide 21: Lohar - Development Potential
Lohar - Development Potential n The Lohar field offers significant development potential wherein proved and the probable OOIP are 2.10 MM BBLS and 0.40 BBLS Battrum East Roseray, respectively. n n Production of Proved Oil Volumes are projected at 0.25 MM BBLS and Development of Probable Volumes are
Slide 22: Karjisan Highlights
KARJISAN HIGHLIGHTS n KARJISAN OIL UPDATE Lohar, Karjisan • Established Sustained production on KJ-4 Bakrol • Oil delivery started May-2017 • Gas Production has commenced Selan’s Oil Characteristics n READY TO DELIVER GAS • Buyer & sales agreement in place. • Well deliverability commenced n FIELD DE
Slide 23: Fiscal Terms
Fiscal Terms Selan Exploration Technology Limited Page 23
Slide 24: Favorable Fiscal Regime
Favorable Fiscal Regime n 100% Working Interest in all fields + Operatorship n Stable PSC regime n 25 Year Contract, 10 Year Extension Received n 100% Cost Recovery Allowed n Profit Petroleum 100% to Selan Up to IM of 3.5, 50% thereafter n Economic Stabilization Clauses, In-Country Arbitration n Cru
Slide 25: Valuation
Valuation Selan Exploration Technology Limited Page 25
Slide 26: Future – Revenue & Profit Outlook
Future – Revenue & Profit Outlook Being updated in light of market developments. Selan Exploration Technology Limited Page 26
Slide 27: Cash Generation – Going Forward
Cash Generation – Going Forward Being updated in light of market developments. Selan Exploration Technology Limited Page 27
Slide 28: Key Risks
Key Risks n Long term Outlook on Oil Prices 📍 Risks " not present in Selan " ... • Lack of significant oil in place or high Recovery Factor targets • Hypothecation of reserves • High Quality Manpower availability • Pending / un-met work commitments • Debt & Lack of any funds requirement • Partners…
Slide 29: Thank You
Thank You
Slide 30: Disclaimer
Disclaimer This material contains forward-looking statements regarding Selan Exploration Technology Ltd, its corporate and business strategies and plans, future financial condition and results of operations. All such forward- looking statements are based on the management's assumptions and beliefs i
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