Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Carnarvon Petroleum — 19th Asia Upstream Conference 2013
25 slides from Carnarvon Energy's conference presentation, Oct 4, 2013
Slide 1: ASX Announcement: Corporate Presentation
Corporate Presentation 4 October 2013 For personal use only ASX ANNOUNCEMENT Carnarvon Petroleum Limited (“Carnarvon”) (ASX:CVN) is pleased to provide shareholders with the attached Corporate Presentation given by Mr Adrian Cook, Carnarvon’s Managing Director, at the 19th Asia Upstream Conference in
Slide 2: Asia Upstream Conference
For personal use only Asia Upstream Conference 4 October 2013 Adrian Cook Managing Director Carnarvon Petroleum
Slide 3: Introduction to Carnarvon
Introduction to Carnarvon Eleven exploration & production blocks in Western Australia and Thailand For personal use only Thailand 3 onshore Concessions containing oil production Thailand and exploration CVN 40% 2 onshore oil exploration Concessions CVN 100% Western Australia 6 offshore exploration L
Slide 4: Snapshot
Snapshot Near term North West Shelf (NWS) drilling targeting gas + condensate For personal use only Short term oil production growth from Thailand operations Long term exploration opportunities in Thailand & NWS North West Shelf significant acreage holding over 28,000km2 in six offshore blocks, five
Slide 5: North West Shelf
For personal use only North West Shelf 3
Slide 6: Hydrocarbon province
Hydrocarbon province Western Australia contains world class hydrocarbon resources For personal use only Carnarvon’s interests (Phoenix) are located around 250km from a number of major gas fields in the Carnarvon Basin, including: Perseus / Goodwyn, Wheatstone, Pluto, and Gorgon These and other field
Slide 7: Regional trends
Regional trends For personal use only Increasing exploration activity trending north of Carnarvon Basin Carnarvon’s interest in five permits Woodside Woodside Phoenix 1 well Phoenix 2 well Apache Keraudren well Main Carnarvon Basin oil and gas fields Near top gas (241T) Woodside depth surface Woodsi
Slide 8: Past wells show prospectivity
Past wells show prospectivity Gas discovered in Phoenix-1 from 4,100m to TD at 4,800m For personal use only 2,900m Phoenix-2 Phoenix-1 Keraudren-1 240S 3,100m 4,000m 4,100m 241T Correlation Flattened on Near Top Gas - 241T 3,300m 4,200m 4,300m 242S 4,400m 4,500m 1982 1980 1973 Improving reservoir ch
Slide 9: Running Room
Running Room The plan is to explore this large and lightly explored region starting near discovered gas For personal use only 1. Large area secured with growth potential 5 blocks awarded in 2008 covering 28,000km2 (~40 times the size of Singapore) 2. New & additional data acquired Phoenix 3D seismic
Slide 10: Prospects and leads
Prospects and leads Significant new prospects and leads in addition to Phoenix South and Roc prospects For personal use only WA-435-P WA-436-P WA-443-P Phoenix 3D Outline WA-437-P WA-438-P Prospect controlled by 3D Data Prospect/Lead controlled by 2D Data Triassic Prospect (Large scale gas prone) Cr
Slide 11: Phoenix South Materiality
Phoenix South Materiality Robust closure, large area and potential multiple gas sands (and oil potential) For personal use only Near top gas (241T) depth surface Phoenix South-1 targeting gas sands logged in Phoenix-1 from the Phoenix 3D seismic survey Multiple gas sands expected to be encountered I
Slide 12: Timing
Timing Phoenix South-1 well spudding in ~ 8 to 12 week’s time For personal use only Phoenix South-1 well expected to spud late 2013 Atwood Eagle semi-sub drilling rig is under contract with Apache for Phoenix South-1 well Technical work supports significant gas volumes condensate volumes projected a
Slide 13: Development
Development Potential scale of the resource and proximity to infrastructure provides multiple options For personal use only Resource scale – multi Tcf fields Significant structures in Phoenix South and Roc prospects on 3D interpretation multiple hydrocarbon bearing sands on mud log analysis Addition
Slide 14: 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 pricing in WA is ~A$8 / GJ Current LNG pricing in Asia is ~US$15 / GJ Most of WA’s gas supply comes from the If US and /
Slide 15: Phoenix asset wrap up
Phoenix asset wrap up Zeester 3D For personal use only Phoenix 3D Discovered gas Phoenix-1 discovered gas in 1980 when gas prices meant the discovery was not economic New 3D seismic First 3D seismic ever acquired over these permits and facilitated the 2012 farm out Successful farm out Apache and JX
Slide 16: Thailand
For personal use only Thailand 14
Slide 17: Production overview
Production overview Substantial opportunity in development and production enhancement activities For personal use only Producing oil fields 200,000 bbls (net) produced in 2013 FY Production set to increase from late 2013 Exposure to strong oil price (unhedged) Undeveloped reserves 2.4 MMbbl (net) in
Slide 18: Technical work
Technical work Technical work leading to area specific development plans For personal use only Geological and technical work is progressing including renewed core analysis mud log analysis gas, oil and water contact analysis Development planning in the L33 Concession is focused around the new 3D sei
Slide 19: Thailand forward program
Thailand forward program Development and exploration drilling re-commence late 2013 For personal use only Drilling rig to return late 2013 WBEXT development drilling 7-8 wells locations ready L33/43 shallow reservoir development Well locations ready Further drilling planned in early 2014 Si Thep Na
Slide 20: Onshore oil in Khian Sa Basin (L52/50 & L53/50)
Onshore oil in Khian Sa Basin (L52/50 & L53/50) Northern Chumphon Basin Schematic Frontier oil exploration opportunity For personal use only Nang Nuan B-01 Largest Tertiary basin in southern Thailand. Under-explored, only two conventional wells drilled. Similar basin architecture to the Chumphon Bas
Slide 21: Conclusion
For personal use only Conclusion 19
Slide 22: Investment highlights
Investment highlights Western Australia – 6 NWS permits Thailand – 5 E&P concessions For personal use only Potential game changer for WA gas Balanced portfolio for growth Scale of resource is significant Existing production Location is ideal for development Appraisal and development in 2 reservoir t
Slide 23: Investment highlights
Investment highlights Success in Carnarvon’s portfolio will deliver value multiples on current enterprise value For personal use only Balanced country portfolio for growth Proven oil Unexploited opportunities Significant acreage still to be explored New opportunities being worked on Potential game c
Slide 24: Disclaimer
For personal use only Disclaimer The information in this document, that relates to oil exploration results and reserves, is based on information compiled by the Company’s General Manager (Operations), Mr Philip Huizenga, who is a full-time employee of the Company. Mr Huizenga consents to the inclusi
Slide 25: Thank you and have a good day
Thank you and have a good day For personal use only Ground Floor 1322 Hay Street West Perth WA 6005 Telephone: +61 (8) 9321 2665 Fax: +61 (8) 9321 8867 www.carnarvon.com.au
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