Synergia Energy Ltd · LSE:SYN
Synergia Energy — Oilex — Investor Presentation (February 2017)
22 slides from Synergia Energy's investor presentation, February 2017
Slide 1: Multi-TCF Onshore Gas in India
MULTI-TCF ONSHORE JAN/FEB 2017 GAS IN INDIA www.oilex.com.au twitter @oilexltd
Slide 2: Important Information
IMPORTANT INFORMATION Nature of the presentation This presentation has been prepared by Oilex Ltd (Oilex). It is current as at the date of this presentation. It contains information in a summary form and should be read in conjunction with Oilex’s other periodic and continuous disclosure announcement
Slide 3: Important Information
IMPORTANT INFORMATION Risks and forward looking statements An investment in Oilex shares is subject to known and unknown risks, many of which are beyond the control of Oilex. In considering an investment in Oilex shares, investors should have regard to (amongst other things) the risks outlined in th
Slide 4: Cambay – Unlocking Value
CAMBAY – UNLOCKING VALUE 1 Cambay Basin – prolific hydrocarbon occurrences with long history of production 2 Large tight gas resource estimate confirmed – requires technology shift to commercialise 3 Oilex driving technology shift – two horizontal wells drilled and stimulated 4 Declining India domes
Slide 5: Setting the Scene
SETTING THE SCENE Page 5
Slide 6: Oilex Background
OILEX BACKGROUND Head office in Perth, Western Australia Project office in Gandhinagar, Gujarat, India Main project in India, tight gas in prolific Cambay Basin Operated in India for approximately 10 years; several wells drilled Dual listed ASX & AIM Page 6
Slide 7: Company Profile
COMPANY PROFILE REVITALISED TEAM BOARD & MANAGEMENT CAPITAL STRUCTURE Max Cozijn Non-executive Chairman OEX AIM ASX Over 35 years experience in administration of listed companies. Brad Lingo Non-executive Director Share price (25 January 2017) £0.0048 $0.008 Over 30 years of oil and gas leadership r
Slide 8: Page 8
Page 8
Slide 9: Why India
WHY INDIA STRONG ENERGY FUNDAMENTALS BP Statistical Review Primary energy consumption in India grew by 5.2% in 2015 of World Energy June Domestic natural gas production fell 3.8% in 2015 2015 and 2016 YOY LNG imports increased by 14.8% in 2015 INDIA DOMESTIC NATURAL GAS DEMAND SUPPLY 1,000 800 Deman
Slide 10: Project Background – Size of the Prize
PROJECT BACKGROUND SIZE OF THE PRIZE Page 10
Slide 11: Cambay PSC
CAMBAY PSC LOCATION AND OWNERSHIP 40,000 acres Nearby to national pipeline infrastructure Gujarat State is one of Cambay India’s major industrial Tarapur regions Oilex – 45% GSPC – 55% Oilex is Operator India – Pipeline Map Cambay Basin Map Page 11
Slide 12: Cambay Project
CAMBAY PROJECT MULTI-TCF TIGHT GAS PLAY Gas in place confirmed in multiple horizons, producing since 1961 Work historically focussed on production from shallower Miocene and Oligocene oil and gas pools (MBS & OS-II); potential for unswept areas remain Oilex is targeting multi-TCF low permeability, w
Slide 13: Cambay Field
CAMBAY FIELD IDENTIFIED HYDROCARBONS: MULTIPLE HORIZONS Hydrocarbon saturations and production in multiple zones in many old wells Entire contract area covered by quality 3D seismic Conventional Production MBS 1000m OS-II Potential unswept areas in OS-II EP-IV 2000m Deccan Tight Gas Traps 3000m Camb
Slide 14: Tight Gas Target
TIGHT GAS TARGET Cambay-11 EP-III/IV SILTSTONE (X/Y ZONE) • Flowed trace oil and gas Cambay-05 • 2.8 MMscfd + 46 bcpd • 4.1 MMscfd + 170 bcpd • 3.1 MMscfd + 74 bcpd Over 30 historic wells have intersected EP-IV in Cambay Cambay-19z Cambay-63 & 70 • Intermittent oil producers PSC • ~0.8 MMscfd + 200
Slide 15: Resource Statement
W Cambay-19z Cambay-73 Cambay-23z Cambay-40 E RESOURCE STATEMENT OSII PREPARED BY RISC* X Zone Top Eocene Y Zone Contingent Resource for EP-III / IV (X / Y Zone) – 100% Z Zone Base EPIV Gas volume (bcf) Condensate Volume (million bbl) Basement 1C 2C 3C 1C 2C 3C 478 926 1616 27 61 121 Table shows gro
Slide 16: Path Forward
PATH FORWARD Page 16
Slide 17: Joint Venture Update
JOINT VENTURE UPDATE POSSIBLE RE-ORGANISATION • Oilex submitted conditional offer for 55% GSPC stake in Cambay PSC in December 2016 under a GSPC sales process • If successful Oilex could increase its equity interest up to a possible 100% • Potential change in JV partner lends weight to deferring hig
Slide 18: Building Value in 2017
BUILDING VALUE IN 2017 CAMBAY-23z Schematic well diagram COST MANAGED PROGRAM SURFACE +13.1 msl • EP-IV tight siltstone requires optimization of drilling and stimulation Legend technologies to achieve commercial flow rates Shale Siltstone 133/8” Casing 594m • Core analysis is an essential tool for g
Slide 19: Updated 2017 Activity Plan
UPDATED 2017 ACTIVITY PLAN LEVERAGING FOR THE FUTURE 1. Analysis of core to optimise EP-IV tight gas stimulation: • Initially through analysis of existing core from Cambay-23z for geomechanical and proppant studies • Potential drilling of a new well to assess fluid saturations, geomechanical and pro
Slide 20: Annexure
ANNEXURE Page 20
Slide 21: Australian Exploration
AUSTRALIAN EXPLORATION Page 21
Slide 22: Oilex in Australia
OILEX IN AUSTRALIA Prospect LARGE EXPLORATION UPSIDE, CANNING BASIN, WA Access to entire sub-basin Approximately 3 million acres S Frontier exploration – East African Rift analogue S Multiple play types anticipated Large structural closures Extensive fan systems Potential resource play Seeking poten