Pancontinental Energy Nl · ASX:PCL
Pancontinental Energy Nl — Investor Presentation (November 2012)
27 slides from Pancontinental Energy Nl's investor presentation, Nov 15, 2012
Slide 1: Highly leveraged into two oil and gas regions on the cusp of game-changing drilling programmes
For personal use only Highly leveraged into two oil and gas regions on the cusp of game-changing drilling programmes Investor Presentation – November 2012 www.pancon.com.au
Slide 2: Disclaimer
Disclaimer These materials are strictly confidential and are being supplied to you solely for your information and should not be reproduced in any form, For personal use only redistributed or passed on, directly or indirectly, to any other person or published, in whole or part, by any medium or for
Slide 3: Overview
Overview Pancontinental Oil & Gas NL (“PCL”) is an ASX listed Oil & Gas Exploration Company For personal use only Anomalous - best positioned of the few junior explorers left standing offshore East Africa, also holding a significant position offshore Namibia Early mover advantage has positioned PCL
Slide 4: Corporate Snapshot
Corporate Snapshot Capital Structure Shareholder Split For personal use only Shares on Issue 1,149 m Board & Mgmt Others Options on Issue1 4.50 m 15% Market Cap. (at $0.086) $99 m 58% 27% Cash (September 2012) $39.2 m Debt Nil Institutional Enterprise Value $60m 1. 2.25m options (exercise price $0.1
Slide 5: Pancontinental's Project Interests
Pancontinental’s Project Interests KENYA OFFSHORE Asset PCL% Sq Km Partner Operator For personal use only Kenya L6 40% 3,134 FAR 60% FAR Kenya L8 15%* 5,115 Apache 50% Apache Origin 20% Tullow 15% Kenya L10A 15% 4,962 BG Group 40% BG Group PTTEP 25% Premier 20% Kenya L10B 15% 5,585 BG Group 45% BG G
Slide 6: East Africa – Main Offshore O&G Players
East Africa – Main Offshore O&G Players For personal use only Apache, Tullow, Origin Offshore Kenya First offshore gas discovery Anadarko, Total Sept 2012 - Mbawa 1 - PTTEP PCL 15% (2nd Well in 20 years) BG Group, Premier PTTEP Offshore Tanzania • Ophir, BG 10+ TCF gas Petrobras • Statoil, ExxonMobi
Slide 7: Offshore Kenya – Interest in Key Blocks
Offshore Kenya – Interest in 4 Key Blocks Active in Kenya for over 10 For personal use only years with an early mover Anadarko, Total, PTTEP L6 - 3,100 sq km advantage FAR Limited 60% Pancontinental 40% Working petroleum system L8 - 5,115 sq km offshore Kenya now proven Apache 50% Origin 20% Mbawa D
Slide 8: Offshore Kenya – Tana River Delta
Offshore Kenya – Tana River Delta Lamu Basin / Tana River Delta Offshore For personal use only Early Tertiary Depositional Setting Schematic Tana River pours sediment (sand and clay) into the offshore areas Maridadi Trough channels reservoir sands to south east Lamu Tembo trough channels reservoir s
Slide 9: Offshore Kenya – Prospects/Leads Maps
Offshore Kenya – Prospects/Leads Maps Lamu Interests in 4 Blocks offshore For personal use only Kenya totaling ~ 19,000 sq km OFFSHORE KENYA L6, L8, L10A, L10B PROSPECTS AND LEADS MAP Participated in four 3D seismic (Various Sources) Mbawa 3D L6 Survey Area surveys Will commence new 3D survey Kifaru
Slide 10: Kenya L8 - Mbawa Discovery
Kenya L8 - Mbawa Discovery For personal use only Mbawa 1 drilled to 3,150m MD, on time and under budget (August/September 2012) First well on the Mbawa Prospect in block L8 offshore Kenya First hydrocarbon discovery offshore Kenya Reversed earlier perception from Woodside's 2007 Pombo 1 well of no s
Slide 11: Kenya L8 – Mbawa Prospect Follow Up
Kenya L8 – Mbawa Prospect Follow Up Tai Prospect For personal use only Multiple Prospects are available from the Mbawa and Nanaa 3D seismic surveys The Tai and Nanaa Prospects are two which are being considered for future drilling The Lower Cretaceous Tai Prospect is one opportunity for an Mbawa fol
Slide 12: Kenya L8 – Forward Exploration Programme
Kenya L8 – Forward Exploration Programme Mbawa analysis is ongoing into 2013 For personal use only Nanaa 3D interpretation will be completed late 2012 - defining new Prospects Second well Joint Venture decision awaited Tai Prospect is one of the main candidates for a second well Nanaa 3D Mbawa Mbawa
Slide 13: Kenya L10A & L10B
Kenya L10A & L10B For personal use only Blocks awarded 2011 Total ~10,000 km2 L5 Water depth 200m to 1,800m Interpreted oil “kitchen” troughs in L7 East and West Anadarko JV L6 Kubwa Prospect- 1 well “Fast Track” exploration programme L8 L12 Large Number and geological variety of “Leads” L10A – 4,96
Slide 14: Kenya L10A/L10B – Variety of Opportunities
Kenya L10A/L10B – Variety of Opportunities Turaco East Sector 3D Reef Seismic TERTIARY CHANNELS Diverse “play” types For personal use only Variety of “Leads”- – 4 way dip closed EAST SECTOR anticlines – Miocene Reefs – Jurassic Reefs – Tertiary Channels – Rollovers into Faults – Cretaceous Channels
Slide 15: Kenya L10A/L10B – Variety of Opportunities
Kenya L10A/L10B – Variety of Opportunities West Sector 2D + New 3D planned For personal use only UPPER JURASSIC MIOCENE REEFS “REEF” Diverse “play” types Sunbird Variety of “Leads”- Reef Turaco Reef – 4 way dip closed anticlines – Miocene Reefs – Jurassic Reefs Miocene Reefs- Seismic Example – Terti
Slide 16: Kenya L6 - Kifaru Prospect 3D
Kenya L6 - Kifaru Prospect 3D Main Kifaru Prospect adjacent to interpreted For personal use only Kudu hydrocarbon kitchen (Maridadi Trough) L6 – 3,134 sq km L6 FAR Limited 60% Pancontinental 40% Kifaru 3D survey completed July 2012 L6 - adjacent and geologically continuous to L8 (Mbawa) Total 3,134
Slide 17: Expected Activity Timeline – Kenya
Expected Activity Timeline – Kenya Pancontinental is well positioned offshore Kenya with direct participation in potentially 4 wells over the next 12-18 months For personal use only In addition, Pancontinental will have indirect exposure to up to 3 wells offshore Kenya in 2012/2013 Nanaa 3D Mbawa Mb
Slide 18: Offshore Namibia EL 0037 – Blocks
Offshore Namibia EL 0037 – 3 Blocks Namibia EL 0037 covers blocks 2012B, For personal use only 2112A and 2113B Chariot Oil & Gas Pancontinental 95% & Operator 17,295 km2 offshore 1 Water Depth 0 – 1,500m Petroleum Agreement & Exploration Licence signed 28 June 2011 2 3 Pancontinental considering ear
Slide 19: Namibia EL 0037 – Oily Sweet Spot
Namibia EL 0037 – Oily Sweet Spot Pancontinental Acreage Pancontinental Acreage Fully Oil- Mature Source Rocks in “Inner Active in Namibia for over 5 years For personal use only EL 0037 Offshore Namibia Graben” Recent acquisitions secured at Predicted Present-Day Maturity for Early Aptian Source Roc
Slide 20: Namibia EL 0037 – Play Concepts
Namibia EL 0037 – Play Concepts For personal use only Channelised Turbidite Reservoirs SHELF Water Bottom Image from Nigeria EL 0037 SHELF SLOPE Mayall and Stewart 2000 SLOPE BASIN FLOOR BASIN FLOOR SHELF “Classic” West African clastic setting EL 0037 covers extended depositional setting- shelf, slo
Slide 21: Namibia EL 0037 – Numerous Leads
Namibia EL 0037 – Numerous Leads Dalia Field Angola Turonian Transition Flexure For personal use only Transition Zone Zone Lower Transition ?Detached Basin- Slope Zone Floor Fan Turbidite Channel Flat Event A B A ------------- D B 0 Km 25 O O M D Varied Play types C C3.4 2.8 NAMIBIA EL 0037 Predicte
Slide 22: Expected Activity Timeline – Namibia
Expected Activity Timeline – Namibia For personal use only PCL is well positioned offshore Namibia to secure a farm-in partner for drilling PCL has indirect exposure to potentially 6+ offshore Namibia wells over the next 12 – 18 months NAMIBIA Technical Consider Farmout Options 3D Seismic Under Farm
Slide 23: Well Funded for Foreseeable Drilling Activity
Well Funded for Foreseeable Drilling Activity For personal use only PCL is well funded for all foreseeable drilling activity (potentially 5 wells depending on farm out activity) with approximately $40 million in cash Interest Activity Est. Cost to PCL (A$) Est. Timing Est. Total Cost to PCL1 (A$) No
Slide 24: Pancontinental Summary
Pancontinental Summary Significant offshore holdings in East Africa (Kenya) and Namibia For personal use only Only junior exposed to two of the most exciting oil plays of the decade Made the first successful gas discovery offshore Kenya with L8 JV partners Well funded for a continuous exploration pr
Slide 25: Pancontinental Oil & Gas NL
For personal use only Pancontinental Oil & Gas NL Ground Floor 288 Stirling Street Tel: +61 (8) 9227 3220 Perth, WA 6000 Fax: +61 (8) 9227 3211 Australia www.pancon.com.au 25
Slide 26: Board & Management
Board & Management Mr Henry David Kennedy, Chairman Mr Kennedy has a long association with Australian and New Zealand resource companies. As a technical director he has been instrumental in the formation and/or development of a For personal use only number of successful listed companies including Pa
Slide 27: Asset Summary
Asset Summary Block Area (km2) PCL Interest (%) Operator (%) Partners (%) For personal use only Kenya L6 3,134 40.0% FAR Limited(60%) FAR Limited (60%) Kenya L8 5,115 15.0%* Apache (50%) Apache (50%) Origin Energy (20%), Tullow (15%) Kenya L10A 4,962 15.0% BG (40%) BG (40%) PTTEP (25%), Premier (20%
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