Sunda Energy Plc · LSE:SNDA
Sunda Energy — BEOS 2025
15 slides from Sunda Energy's conference presentation, Mar 4, 2025
Slide 1: Offshore Philippines – 50 years on, but riches still remain
Offshore Philippines 50 years on, but riches still remain Colin Murray BEOS 2025 4th March 2025 www.sundaenergy.com
Slide 2: Sunda Energy Plc (SNDA.L) – SE Asia focussed gas strategy
Sunda Energy Plc (SNDA.L) – SE Asia focussed gas strategy Vietnam Sunda Energy is an independent E&P with a focus on gas in SE Thailand Asia and a key asset in Timor-Leste Cambodia Philippines Why Sunda and SE Asia? ✓ Robust energy demand growth ✓ Strong government alignment Brunei ✓ Material anchor
Slide 3: Philippines Overview
Philippines Overview ▪ Rapidly developing nation of > 100 million people ▪ Mature democracy, strong legal and fiscal regimes ▪ Relatively poor in indigenous energy ➢ Relies significantly on imported coal and fuel oil ➢ Malampaya gas field provides c.20% of power feedstock national, but in decline ➢
Slide 4: Philippines Petroleum Basins
Philippines Petroleum Basins ▪ Exploration focused primarily around Palawan and Borneo margin Mindoro / Cuyo ▪ NW Palawan has seen most activity NW ▪ Exploration since 1970’s with discoveries in Oligo-Miocene Carbonates Palawan – only basin with significant production (Malampaya gas field) Recto Vis
Slide 5: NW Palawan – oil play: incremental resources remain undeveloped
NW Palawan – oil play: incremental resources remain undeveloped ▪ Shallow water exploration began in early 1970’s ▪ First Service contracts awarded to international companies – notably Cities Service, Phillips, Amoco ▪ Oil discoveries made in Oligo-Miocene Nido Limestones ▪ Nido Field (1976) on prod
Slide 6: NW Palawan – deepwater gas: major success but is it alone?
NW Palawan – deepwater gas: major success but is it alone? Malampaya seismic interpretation ▪ In the 1980’s, exploration extended into deeper waters to test larger Nido Limestone structures ▪ Occidental’s Camago-1 (1989) discovered the nation’s one giant, the Malampaya gas condensate field ▪ Shell d
Slide 7: NW Palawan: Deepwater prospects, yet to be tested
NW Palawan: Deepwater prospects, yet to be tested Balyena Prospect ▪ The area to the west, north and southwest of Malampaya remains undrilled ▪ Large prospect inventory, some areas unlicenced ▪ Multiple plays: ▪ Nido Limestones – Malampaya look-alikes ▪ Clastic turbidites in overlying Miocene sectio
Slide 8: Recto Bank – huge potential still to be realised
Recto Bank – huge potential still to be realised ▪ Extensive shallow water micro-continental block outboard of Palawan margin (similar in size to UK Southern Gas Basin) ▪ Early exploration in 1970’s led to discovery of Sampaguita gas field in 1976 by a Swedish-Filipino consortium ▪ Two appraisal wel
Slide 9: SW Palawan – extension of NW Sabah trend, little drilling
SW Palawan – extension of NW Sabah trend, little drilling ▪ Continuation of NW Sabah (Malaysia), a major producing basin ▪ 400km trend, only 18 wells, of which 4 beyond 200m water depth ▪ Clastic plays in Upper Miocene deepwater fold and thrust belt ▪ Analogous to Kikeh, Gumusut, Rotan in Malaysia ▪
Slide 10: East Palawan – frontier basin, early-stage exploration
East Palawan – frontier basin, early-stage exploration ▪ Basin virtually unexplored; only 5 wells in total (only one in last 40 years) ▪ Recent multi-client 2D seismic revealed deep grabens and potential targets – carbonates and clastics, plus possible direct hydrocarbon indicators ▪ Maniguin-2 well
Slide 11: Sulu Sea / Sandakan Basin– giants lurking?
Sulu Sea / Sandakan Basin– giants lurking? ▪ Analogous to other circum-Borneo prolific regions: Kutei, NW Sabah, Baram and Tarakan Basins ▪ Shallow water shelf is sand rich with small fields in Malaysian sector – limited seal potential ▪ Six wells drilled in U. Miocene deepwater turbidite play; two
Slide 12: Sulu Sea Basin– deepwater turbidite discoveries
Sulu Sea Basin– deepwater turbidite discoveries ▪ ExxonMobil Dabakan-1 and Palandag-1A both discovered gas in multiple stacked turbidite sands in deepwater thrusted anticline traps ▪ Good AVO response in reservoir intervals / requires further evaluation ▪ Dabakan-1 intersected 74m net TVD gas pay, P
Slide 13: Sulu Sea Basin– significant upside in deeper plays
Sulu Sea Basin– significant upside in deeper plays ▪ Giant basin floor “Halcon” prospect identified by previous licence group but not drilled – multi-tcf potential ▪ located on a structural arch – potential migration focus Halcon basin floor fan ▪ Deep unconformity surface underlying DWFTB displays
Slide 14: Concluding comments – do riches still remain?
Concluding comments – do riches still remain? ▪ Yes! ▪ Relatively modest discovered resources and production belie significant remaining potential of offshore Philippines ▪ Incremental volumes to be produced in proven Nido oil play ▪ Extension of Malampaya gas trend in NW Palawan with potential clas
Slide 15: Thank you
Thank you El Nido Bay and Cadlao Island, Palawan 14