Ptr Minerals Limited · ASX:PTR
Ptr Minerals — Petratherm — Shareholder Meeting (March 2011)
28 slides from Ptr Minerals's shareholder meeting presentation, Mar 15, 2011
Slide 1: ASX Release: Shareholder Presentation
g ASX Release For personal use only PETRATHERM LIMITED ABN 17 106 806 884 Shareholder Presentation Petratherm’s Managing Director, Terry Kallis and Exploration Manager, Peter Reid, will later today present to Shareholders at a General Meeting of the Company to be held in Adelaide. The presentation (
Slide 2: Shareholder Presentation
For personal use only Shareholder Presentation Managing Director, Terry Kallis and Exploration Manager Peter Reid 15 March 2011
Slide 3: Disclaimer and competent persons statement
Disclaimer and competent persons statement For personal use only Disclaimer In particular, they speak only as of the date of this To the extent permitted by law, Petratherm and its This presentation has been prepared by Petratherm document, they assume the success of officers, employees, related bod
Slide 4: Petratherm - Corporate and financial
Petratherm - Corporate and financial For personal use only Listed ASX : PTR › Shares on Issue: 126.7 m › Share Price: $0.11 › Market Cap: $ 13.94 m › Cash Position: $ 2.76 million(31 Dec 2010) › Shareholders: 3,631 shareholders › Minotaur Exploration 18.54 % › Australian Ethical Investments 8.46 % P
Slide 5: Project Summary
Project Summary For personal use only › Paralana engineered geothermal system project › de-risking project through main fracture stimulation in March 2011 › fracc/stim costs largely covered under JV with Beach and TRUenergy › excellent leverage in terms of JV and government grants › “hot rock” geoth
Slide 6: Development Model – Heat Exchanger Within Insulator
Development Model – Heat Exchanger Within Insulator For personal use only › Higher Permeability › Chemically Stable › Lower Frac Challenge? › Adelaidean – bedding / joint surfaces = Cheaper Power!
Slide 7: Paralana Project – Regional Picture
Paralana Project – Regional Picture For personal use only *Please note Competent Persons Statement near beginning of presentation
Slide 8: 2D seismic interpretation suggests potential faults and fractures
2D seismic interpretation suggests potential faults For personal use only and fractures may be regionally extensive below a thick quartzite sequence (Seismic Line 84 SPG) *Please note Competent Persons Statement near beginning of presentation
Slide 9: Paralana Well Summary
Paralana 2 Well Summary For personal use only Depth 4003m (G.L. AHD) Slow ROP due to hard formations Well cased and cemented to 3720m Measured Temp. = 176 oC at 3672 m; Extrapolated bottom hole temp. is 190 ± 2 oC at 4000m depth. *Please note Competent Persons Statement near beginning of pre
Slide 10: Paralana – Below 3400m Section – Brine Intersected
Paralana 2 – Below 3400m Section – Brine Intersected For personal use only High torque, intervals of high ROP’s, drilling breaks and increased in well bore deviation. Evidence of geothermal brines from 3670m with inflows of over-pressured brine at approximately 3750m and 3864m. Shut in pressur
Slide 11: Passive seismic array
Passive seismic array For personal use only Monitoring began April 2008 one deep borehole sonde at 1790m in Paralana 1B six borehole sondes at 200m eight surface seismometers two accelerometers MEQ - Array Managed by IESE *Please note Competent Persons Statement near beginning of presentat
Slide 12: Regional and Local Seismic Events
Regional and For personal use only Local Seismic Events Results from April 2008 to Sept. 2010
Slide 13: Pre-stimulation Seismic Events
Pre-stimulation Seismic Events For personal use only April 2008-Sept.2010 • Relatively small local events detected • Largest event 0ML • Correlates with faults within the Poontana Fracture Zone
Slide 14: Diagnostic Fracture Injection Test - Jan 2011
Diagnostic Fracture Injection Test - Jan 2011 For personal use only • Successful break down (fracturing) of rock • Over 140 micro-seismic events recorded • Seismic events extend ~ 300m from the well bore • Evidence of potential connection to an over-pressured zone
Slide 15: MEQ Real time monitoring during hydraulic stimulation
MEQ Real time monitoring during hydraulic Stimulation Main Stimulation Planned for late March/early Mimo Software used to detect, For personal use only locate, and determine event April 2011 magnitudes in near real-time
Slide 16: Regional community consultation
Regional community consultation – May 2010 / March 2011 For personal use only Petratherm /Beach and PIRSA Nepabunna Port Augusta, Leigh Creek, Hawker, Nepabunna, Iga Warta, Arkaroola and Quorn Update on project and outline of next work stage – fracture stimulation First round consultation we
Slide 17: Natural Seismicity
Natural Seismicity For personal use only Historical seismic activity at Paralana is low Frequent seismic events within the Flinders Ranges. Largest event recorded close to Paralana was a ML3.7 at Christmas Well in 1971 Natural seismicity recorded by Geoscience Australia and PIRSA
Slide 18: Fracture stimulation programme – next stage of work
Fracture stimulation programme – next stage of work For personal use only Fracture stimulation Inject larger volume of water at higher rates Volumes and stepped injection rates dependent on micro-seismic response Aims to create and activate natural fracture network intersected in the well. T
Slide 19: Outlook for 2011 and beyond
Outlook for 2011 and beyond For personal use only Paralana JV project planned milestones 1st Qtr 2011: Main fracture stimulation 2nd half 2011: drilling of the Paralana 3 deep producer well 1st half 2012: Circulation Test – Demonstration of Flows 2012: Commission first stage 3.75 MW power pl
Slide 20: Spain – Enel Green Power deal and Tenerife volcanic project
Spain – Enel Green Power deal and Tenerife volcanic project › Joint development of all For personal use only electricity producing projects in Spain and Portugal › Direct and external exploration costs shared 50:50 › Tenerife is an active volcanic island, MT indicates hydrothermal system may be reac
Slide 21: Tenerife – conventional volcanic project
Tenerife – conventional volcanic project › For personal use only Slim line 2km well (refer map) to confirm geothermal source › Geochemistry indicates presence of a hydrothermal system of at least 240˚C › 50 MW development– targeting between 7 MW and 15 MW per production well › High prices, over €90/
Slide 22: Petratherm - a standout in the Australian geothermal sector
Petratherm - a standout in the Australian geothermal sector For personal use only The Company is considered a standout amongst its peer companies in the ASX listed Australia geothermal sector because it has; › a unique exploration approach for identifying shallow “hot spots” that does not rely on in
Slide 23: www.petratherm.com.au
For personal use only www.petratherm.com.au
Slide 24: Paralana joint venture arrangements
Paralana joint venture arrangements For personal use only › Beach Energy Farm-in (Jan 2007) for up to $28m for 36% plus equity share of project costs at every stage › First $5m for first well and $2.7m for stimulation – earns 21% › Contributes at 21% for second well and stimulation › After demonstra
Slide 25: Paralana joint venture and government grant arrangements
Paralana joint venture and government grant arrangements › Beach Energy Farm-in (Jan 2007) for up to $28m for 36%, For personal use only plus equity share of project costs › TRUenergy Farm-in (Aug 2008) for up to $57m for 30%, plus equity share of project costs › JV Projects stages › Demonstration o
Slide 26: Project joint venture – cost estimates
Project joint venture – cost estimates (assumes JV earn-in options exercised) › Demonstrate flows (stages) Project JV costs PTR cost For personal use only › Fracture stimulate – Paralana 2 $1.5 m $ 0.4m 1 › Drill producer well – Paralana 3* $15m - $20m $6.4m - $9.9m 2 › Fracture stimulate/circulate
Slide 27: Paralana Project – Commercial Plan
Paralana Project – Commercial Plan For personal use only Small off grid market (5-30MWe) (Heathgate) followed by potential large on grid development (260 MWe+) Expenditure well leveraged for proof of concept, then potentially fully funded to initial commercial demonstration scale 30MWe plant F
Slide 28: Tenerife – project economics
Tenerife – project economics (assumptions are estimates only) Project Assumptions For personal use only › Bottom hole temp. 250°C, re-injection temp.105°C › Flow rate 100 litres/sec. › Output per producer well – 12.7 MW › 25 MW power plant and total capital cost (wells, plant and transmission) - € 7