3d Energi Limited · ASX:TDO
3d Energi — 3D Oil — Shareholder Meeting (November 2009)
29 slides from 3d Energi's shareholder meeting presentation, Nov 26, 2009
Slide 1: 3D Oil Limited Annual General Meeting
3D Oil Limited For personal use only Annual General Meeting 26 November 2009 Stamford Plaza Collins Street Melbourne
Slide 2: Presentation Disclaimer
Presentation Disclaimer For personal use only Important Notice This presentation contains certain statements which may constitute "forward-looking statements". Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performan
Slide 3: Why 3D Oil is a great investment
Why 3D Oil is a great investment For personal use only ¾ 3D Oil will develop West Seahorse in the short term ¾ The reserves and contingent resources of West Seahorse have been recently increased ¾ The satellite feature, Hippo, and the neighbouring Sea Lion Prospect have the potential to add signific
Slide 4: The 3D Oil Story
The 3D Oil Story For personal use only Summary ¾ Listed 22 May 2007 ¾ 206.6 mill shares on issue ¾ $57 mill market cap ¾ Approx $9.4 mill in cash ¾ No debt Key Strengths Growing asset base ¾ 2P reserves 5.3 MMbbl ¾ P50 contingent resource 3.4 MMbbl ¾ Prospective resources > 100 MMbbl Focused on deli
Slide 5: TDO and Oil Price Summary
TDO and Oil Price Summary For personal use only 0.35 120 Oil Price US $ Tapis Price previous 12 months Oil Price A$ 0.3 TDO Share Price 100 0.25 80 Share Price (A$) 0.2 Oil Price ($) 60 0.15 40 0.1 Accelerated Growth 20 0.05 Strategy announced 0 0 8 9 9 9 09 09 09 09 09 09 09 09 09 00 00 00 00 0 0 0
Slide 6: TDO and ASX Energy Index Summary
TDO and ASX 200 Energy Index Summary For personal use only Strong comparative performance from 3D Oil relative to other energy stocks 3D Oil Performance versus ASX 200 Energy 300% 250% 200% 150% 100% 50% 0% 1/12/2008 1/02/2009 1/04/2009 1/06/2009 1/08/2009 1/10/2009 -50% 3D Oil ASX 200 Energy
Slide 7: Assets and Potential
Assets and Potential For personal use only Vic/P57 100% T41-P 100% ¾West Seahorse 8.7MMstb (2P+2C) with potential satellite feature ¾Completed comprehensive ¾ New seismic indicates assessment of infra-structure structured and prospective options ¾ Also confirmed seismic ¾Sea Lion oil prospect ready
Slide 8: Accelerated Growth Strategy
Accelerated Growth Strategy For personal use only Accelerated Growth Strategy - 3 Stage Process ¾ Optimisation of West Seahorse Development ¾ Comprehensive prospectivity analysis for T41-P and Vic/P57 ¾ Partnering strategy
Slide 9: Reserves and Resources
Reserves and Resources For personal use only Reserves and Contingent Resources (MMstb) 11% West Seahorse increase 12% increase 8.7 14% 32% increase 6.8 32% increase 1P increase 5.3 4.1 Extensive subsurface study of West Seahorse has been undertaken 1P 2P 3P 2P + Contingent incorporating newly acquir
Slide 10: Seahorse and West Seahorse Comparison
Seahorse and West Seahorse Comparison For personal use only Fields very similar Seahorse has been on production for almost 18 years 9Areal size similar 9Both have oil in N1 and N2.6 reservoirs Vic/P57 9OWCs almost identical 9Same oils West Seahorse Seahorse N1 N2.6 P1
Slide 11: Near-Field Potential: Hippo
Near-Field Potential: Hippo For personal use only •Structural high west of West Seahorse West Seahorse-1 •Same oil zones predicted Hippo • A total of 1.5 MB recoverable (P50 Prospective Resource) •Potential tie-back to the main field. N1 N2.6 B Hippo West Seahorse P1
Slide 12: Optimising West Seahorse Development
Optimising West Seahorse Development For personal use only Development options for West Seahorse were historically impacted by the global financial crisis and low oil prices. During this time 3D Oil continued engineering studies on low CAPEX options including: ¾ Mobile Offshore Production Unit (MOPU
Slide 13: Offshore Production Unit (MOPU) Overview
Offshore Production Unit (MOPU) Overview (Option1) For personal use only A Mobile Offshore Production Unit (MOPU) Santos Maleo MOPU - Indonesia is a converted jack-up drill rig with oil production capabilities on the main deck Advantages of a MOPU development are: •Fast development time. Recent MOPU
Slide 14: Sub-Sea Development Overview
Sub-Sea Development Overview (Option 2) For personal use only West Seahorse-3 to be recompleted as a sub- sea well and produced to the Barracouta (BTA) platform. Sub-Sea Field Layout Key components of the option are: •West Seahorse-3 recompleted as a sub-sea well. •Offshore pipelines (production and
Slide 15: Accelerated Growth Strategy
Accelerated Growth Strategy For personal use only Accelerated Growth Strategy - 3 Stage Process ¾ Optimisation of West Seahorse Development ¾ Comprehensive prospectivity analysis for T41-P and Vic/P57 ¾ Partnering strategy
Slide 16: Growth Potential
Growth Potential For personal use only Current activities and immediate plans Vic/P57 ¾ Full prospectivity review undertaken and continuing ¾ Attract leveraged partner to share forward risk ¾ New work on the Felix Prospect is very exciting ¾ Sea Lion has real potential to add significant value to VI
Slide 17: Why Bass Strait?
Why Bass Strait? For personal use only 10,000 Preferred Quadrant Well cost - low Deep Water Well cost - medium 1,000 Well cost - high Bass Browse (T/41P) Field size (boe) 100 Timor Sea Large Company Materiality Threshold Canning Gippsland 10 Bonaparte Carnarvon (Vic/P57) Perth Barrow Amadeus Eromang
Slide 18: A large prospect portfolio
A large prospect portfolio For personal use only Vic/P57 T/41P More likely oil Lower More likely gas Felix Sealion Scooter Risk Profile Felix Deep Salsa Dalrymple Kangafish Nicholson Dexter Lucifer Glengarry Tamar Pembroke Humbug Hector Tolpuddle Higher
Slide 19: Gippsland; a prolific basin
Gippsland; a prolific basin For personal use only A great address ¾Historically Gippsland has highest exploration success rate in Australia. ¾Vic/P57 has been very lightly explored ¾Adjacent to numerous oil and gas fields
Slide 20: Exploration Vic/P57
Exploration Vic/P57 For personal use only At least eight prospects and leads defined by B 3D seismic A A B Sealion West Seahorse Wirrah Felix Moonfish Prospect Seahorse Prospect Oil & Gas Oil
Slide 21: Felix Prospect
Felix Prospect For personal use only Felix Prospect > 100 MMBbls Potential ¾ The Felix prospect is located within VIC/P57 on the prolific Rosedale Fault oil trend, 7km from the producing Moonfish Oil Field ¾ Recent detailed mapping and an improved geological model have resulted in an upgrade to the
Slide 22: Sea Lion Prospect
Sea Lion Prospect Sealion For personal use only ¾ West Seahorse look-a-like ¾ 7 km from West Seahorse along Rosedale Fault Sea Lion West Seahorse-1 ¾ Develop as a stand-alone or tied back to West Seahorse. N2.6 Independent Expert’s Assessment
Slide 23: Potential significant gas trend
Potential significant gas trend For personal use only Dexter Lead Lucifer A newly recognised Longtom play KangaFish Lucifer Lead Sperm Whale Patricia Lead Emperor Sweetlips Longtom • Gas play trend which includes Lucifer, Dexter Salsa Sunfish and Kangafish Lead Wirrah Tuna •On trend with newly devel
Slide 24: Exploration T41/P, Tasmania
Exploration T41/P, Tasmania For personal use only Bass Basin an exciting emerging petroleum province ¾ Shallow water (<80m) ¾ Shallow drilling targets ¾ Very lightly explored and large (2700 km2) ¾ The key ingredients for an active petroleum system ¾ Aggressive bids and farmins in previous 2 years w
Slide 25: T41/P; all the right ingredients
T41/P; all the right ingredients For personal use only New seismic has uncovered many new leads ¾ 15 leads currently identified from newly acquired 2200 km of seismic T/41P ¾ Seismic anomalies often indicative of hydrocarbons are associated with some leads Lubiana ¾ Dalrymple anomaly on a number lin
Slide 26: Accelerated Growth Strategy
Accelerated Growth Strategy For personal use only Accelerated Growth Strategy - 3 Stage Process ¾ Optimisation of West Seahorse Development ¾ Comprehensive prospectivity analysis for T41-P and Vic/P57 ¾ Partnering strategy
Slide 27: Partnering Strategy
Partnering Strategy For personal use only Partnering Strategy Process ¾ A structured process has been initiated to select exploration and development partners ¾ Core Energy Group have been appointed as advisors ¾ Target finalisation by end of December
Slide 28: Value Potential
Value Potential For personal use only Vic/P57 NPV A$ Felix Exploration Potential Vic/P57 Development and Tie In Potential Key Assumptions: 53MMBbls1 @ A$102 net back per Bbl 550 500 1. Exploration value West Seahorse 2P + assumes a A$102 net 450 Sea Lion @ US$100/bbl back per barrel and 400 53MMBbl1
Slide 29: Accelerated Growth Strategy: Transitioning from evaluation to implementation
3D Oil Limited For personal use only Accelerated Growth Strategy Transitioning from evaluation to implementation Annual General Meeting 26 November 2009 Stamford Plaza Collins Street Melbourne