Hartshead Resources Nl · ASX:HHR
Hartshead Resources Nl — Investor Presentation (September 2019)
20 slides from Hartshead Resources Nl's investor presentation, Sep 23, 2019
Slide 1: Unlocking European Onshore Oil & Gas Resources
SEPTEMBER 2 0 1 9 Pura Vida Energy NL to be renamed: UNLOCKING EUROPEAN ONSHORE OIL & GAS RESOURCES
Slide 2: Forward Looking Statements
Forward Looking Statements This document has been prepared by Pura Vida Energy NL (to be renamed “Ansila Energy NL“) ("Ansila”). This document contains certain statements which may constitute "forward- looking statements". It is believed that the expectations reflected in these statements are reason
Slide 3: Executive Summary
EXECUTIVE SUMMARY ▪ Completion of Earn-in for 35% interest in the Nowa Sol and Gora onshore Polish oil & gas projects secured via a combined spend of A$6.15million [£3.38million] ▪ Projects located in Poland's proven and producing Permian basin ▪ Lower risk, lower cost, near-term European assets ▪ T
Slide 4: Near-Term Workstreams
NEAR-TERM WORKSTREAMS ▪ Siciny 2 - 2C contingent resources evaluation o Conceptual field development plan o Feasibility and economic evaluation o Reviewed and audited by an independent consultant o Deliverable: NPV value per bbl of 2C resources ▪ Technical review of Siciny-2 operation o Project cont
Slide 5: European Onshore Focus and Projects
EUROPEAN ONSHORE FOCUS AND PROJECTS NOWA SOL North Sea ■ Ansila: 35% ■ Jany-C1 well ■ Area: 1,165 km2 ■ Oil Target: 36MMbbls 2C contingent resources* ■ Resource Potential: 400MMbbls† GORA ■ Ansila: 35% ■ Siciny-2 well ■ Area: 693 km2 Projects on trend with giant ■ Gas Target: 1.6 Tcf 2C Permian Basi
Slide 6: Projects Overview
PROJECTS OVERVIEW ▪ 35% interest in the Nowa Sol and Gora projects in the prolific Polish Permian Basin† ▪ Both licenses have recent discoveries and multi-Tcf/MMbbls potential ▪ Surrounded by Poland’s largest gas fields with over 100 discoveries in the area ▪ The assets were acquired from AIM listed
Slide 7: Adjacent Fields
ADJACENT FIELDS Over 7 TCF of gas discovered in the Rotliegend in Poland 227BCF PAPROC ■ Ongoing exploration and production since early 60’s 850BCF ZUCHLOW ■ Over 100 discoveries in the area KARGOWA 2000MBOE ■ Existing and easily accessible gas pipeline KIJE 900MBO network CZERWIENSK 700MBO LELECHOW
Slide 8: Gora: Siciny-2 Targeting Gas Resources
GORA: SICINY-2 TARGETING GAS RESOURCES ▪ CPR estimate a 2C contingent resource associated with Siciny-2 well of 1.6 Tcf* of gas Carboniferous Unconventional Gas Play ▪ CPR 2C contingent resource 1.6 Tcf* o 2C resource area covers 41.6 km2 ▪ Much larger target of up to 9 Tcf potential if the play is
Slide 9: Gora: Siciny-2 Targeting Gas Resources
GORA: SICINY-2 TARGETING GAS RESOURCES Gora License Area 3D seismic coverage 693 km2 Siciny-2 Well 3D seismic coverage NSAI 2C Polygon area 41.6 km2 Map showing depth to Top Carboniferous from Well Data © Pura Vida Energy NL to be renamed “Ansila Energy NL” │Corporate Presentation │ 2019 9
Slide 10: Nowa Sol: Jany-C1 Well Targeting Oil Resources
NOWA SOL: JANY-C1 WELL TARGETING OIL RESOURCES ▪ Jany-C1 well drilled in 2013 by copper company Main Dolomite Unconventional Oil Play ▪ Entire section was logged in addition to recovering 45m ▪ Target: Mid-case STOIIP 238 MMbbls* oil in tight of whole core Dolomite reservoir with 2C contingent resou
Slide 11: Nowa Sol: Jany-C1 Well Targeting Oil Resources
NOWA SOL: JANY-C1 WELL TARGETING OIL RESOURCES Nowa Sol License Area 1,165 km2 Jany-C1 Well 3D seismic NSAI 2C Polygon coverage area 48.6 km2 Map showing depth to Top Main Dolomite from Well Data © Pura Vida Energy NL to be renamed “Ansila Energy NL” │Corporate Presentation │ 2019 11
Slide 12: Gora: Conventional Prospectivity
GORA: CONVENTIONAL PROSPECTIVITY* ▪ CPR estimate Rawicz North prospective resource of 110 Bcf o Structure defined by 3D and 2D seismic Rotliegendes Conventional Gas Play o Reservoir, seal and charge proven in offset fields ▪ CPR Prospective Resource 210 Bcf (best estimate) o Proven Rotliegendes gas
Slide 13: Gora and Nowa Sol Work Program
GORA AND NOWA SOL WORK PROGRAM Nowa Sol: ■ Well Status: Suspended Ca2 Jany-C1 cased with 7” liner ■ Plan foward: Proppant frack, Budget: A$2.25m test, and put on production [£1.23m] ■ Goal: Success in Jany-C1 will prove the viability of a Bakken style unconventional resource play in the Main Dolomit
Slide 14: Post Transaction Capital Structure
POST TRANSACTION CAPITAL STRUCTURE Ordinary shares 485,349,635 Partly Paid Shares1 5,703,550 Options2, 3 32,000,000 Performance Rights4 88,267,482 Market Capitalisation Post Transaction (1.8c share price) $8.8m Cash balance as at 1 July 2019 including gross proceeds $9.5m from capital raisings curre
Slide 15: Fiscal Terms & Commercialisation
FISCAL TERMS & COMMERCIALISATION Indicative Development Scenarios Robust Gas Demand ▪ Poland is heavily dependent upon oil and gas imports – particularly ▪ Successful frack and flow tests will advance horizontal from Russia development programs for the two tight oil and gas plays ▪ Seasonal domestic
Slide 16: Appendix I – Board and Management Team
APPENDIX I – BOARD AND MANAGEMENT TEAM BEVAN TARRATT NATHAN LUDE Non-Executive Chairman Executive Director ▪ Non Executive Chairman of ASX-Listed Protean Energy and Fenix ▪ Broad experience in asset management, mining and energy sectors Resources. Non Executive Director of ASX-Listed Jacka Resources
Slide 17: Appendix II - Poland Gas Market and Pricing
APPENDIX II - POLAND GAS MARKET AND PRICING Source: International Energy Agency (IEA) ▪ Poland’s energy consumption is heavily dependent on oil and gas imports with gas demand growing strongly ▪ Security of supply and desire to reduce dependency on Russian gas imports is high on the political agenda
Slide 18: Appendix III: Poland Gas Infrastructure
APPENDIX III: POLAND GAS INFRASTRUCTURE Map source: Gaz System S.A. © Pura Vida Energy NL to be renamed “Ansila Energy NL” │Corporate Presentation │ 2019 18
Slide 19: Appendix IV: Licence History
APPENDIX IV: LICENCE HISTORY Over a thousand wells drilled by the Polish state proving the potential of SLE enters into a MOU with Former SLE Gemini farm-out the Polish Permian basin. Despite Lelechow and Czaslaw oil wells Transatlantic Petroleum Inc managers form 25% in Gora and poor communist era
Slide 20: Appendix V: Gora: Siciny-2 Well
APPENDIX V: GORA: SICINY-2 WELL A A ▪ Siciny-2 is on the flank of a very large anticline structure. Entire structure is not imaged by 3D ’ ▪ Rotliegendes fields are located at the top of the structure Top ▪ The area is covered with 3D seismic, however, imaging of Rotliegend individual layers in the
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