Condor Energy Limited · ASX:CND
Condor Energy — Investor Presentation (May 2024)
19 slides from Condor Energy's investor presentation, May 22, 2024
Slide 1: Corporate Presentation
ASX: CND • CONDOR ENERGY LIMITED Exploring For personal use only Corporate Presentation One of South May 2024 America’s Great Offshore Basins 1 condor-energy.com.au
Slide 2: Disclaimers & Disclosures
IMPORTANT INFORMATION Disclaimers & Disclosures This presentation has been prepared by Condor Energy Limited (Condor), formerly COMPETENT PERSON’S STATEMENT The information in this report is based on information compiled or reviewed by Mr Scott Macmillan, Non-Executive known as Global Oil & Gas Limi
Slide 3: Rare World-Class Hydrocarbon Exploration Opportunity
Rare World-Class Hydrocarbon Exploration Opportunity INVESTMENT SUMMARY Billion barrel oil potential in one of Peru’s proven offshore hydrocarbon basins with For personal use only more than 20 prospects and leads mapped. Undeveloped gas field in shallow water with 2C Contingent Resources# of 404 Bcf
Slide 4: Corporate Snapshot
Corporate Snapshot DIRECTORS Matt Ireland Scott Macmillan Ricardo Garzon Rangel Non-Executive Chairman Non-Executive Director Executive Director CORPORATE OVERVIEW Mr Ireland, a Partner at Steinepreis Mr Macmillan is the Managing Director Mr Garzon Rangel is an industrial Paganin, is a highly experi
Slide 5: TEA LXXXVI: High Impact Exploration in a Proven Basin
TEA LXXXVI: High Impact Exploration in a Proven Basin PROJECT OVERVIEW • Substantial footprint covering 4,858 km2 Technical Evaluation Agreement (TEA) with exclusive right to apply for a conventional exploration contract. For personal use only • TEA area covers majority of the Peruvian offshore Tumb
Slide 6: Premier Position in a Prolific Neighbourhood
Premier Position in a Prolific Neighbourhood MAJORS & IOCs ACTIVE IN BASIN & PERU • In May 2024 Total Energies E&P (Total) signed three TEAs offshore Peru following Condor’s entry into the Tumbes. For personal use only • Total's TEA (LXXXIX) is contiguous to Condor’s TEA area. • Total's entry into P
Slide 7: Tumbes Basin Data & History
Tumbes Basin Data & History UNDEREXPLORED BASIN WITH ONLY ONE WELL DRILLED USING 3D SEISMIC • Tumbes Basin only lightly explored by previous operators who focused on the onshore and shallow water areas. • Only one exploration well, Marina 1-X, has been drilled based on 3D For personal use only seism
Slide 8: Tumbes Basin Regional Maps and Petroleum System
Tumbes Basin Regional Maps (3D seismic area) Petroleum System PROVEN PETROLEUM SYSTEM & MULTIPLE PLAYS • The Tumbes Basin is a forearc basin west of the Andes, above the subducting Pacific oceanic plate. • 10km of sedimentary fill with multiple source, seal and For personal use only reservoir sequen
Slide 9: Tumbes Basin Cross Sections
Tumbes Basin Cross Sections A A’ TARGET RICH ENVIRONMENT • The subducting Pacific plate causes variation in the regional stress field resulting in rapid subsidence, abundant faulting and periods of folding and uplift. For personal use only • There are a wide variety of structural and stratigraphic p
Slide 10: Tumbes Basin Play Concepts
Tumbes Basin Play Concepts A A’ PROVEN PETROLEUM SYSTEM & MULTIPLE PLAYS • Only one well in the basin, Marina1-X, has been drilled using 3D seismic data. For personal use only • Marina1-X targeted Tumbes reservoirs which were not well developed. • The deeper Zorritos Formation is the primary reservo
Slide 11: Bonito Prospect
Bonito Prospect FOCUS AREA 1 – LARGE PROSPECT WITH STACKED POTENTIAL • Large anticlinal feature with 76 km2 of closure. • Primary target in Upper Zorritos Reservoirs. For personal use only • Additional potential in deeper Zorritos reservoirs proven in basin in producing fields. • Secondary reservoir
Slide 12: Raya Prospect
Raya Prospect Zorritos Unconformity FOCUS AREA 2 – LARGE PROSPECT WITH STACKED POTENTIAL • The combined structural & stratigraphic trap sealed by the Zorritos Unconformity covers 46 km2. For personal use only • Four-way dip closed structure in Upper Zorritos sands beneath the Zorritos Unconformity c
Slide 13: Piedra Redonda Gas Field
Piedra Redonda Gas Field FOCUS AREA 3 – UNDEVELOPED GAS FIELD WITH UPSIDE • Discovery well C-18-X drilled in 1978 in 55m of water. • Well flowed at maximum rate of 8.2 million standard cubic feet per day (mmscf/d) recovering 128 mmscf during an extended 60 day For personal use only well test period.
Slide 14: Strategy & Newsflow
Strategy & Newsflow USE NEW TECHNOLOGY & INSIGHTS TO MATURE & HIGH-GRADE PROSPECTS TO DRILL READY • Condor and its JV partners, Jaguar, have designed a multi-disciplinary work programme to rapidly assess the petroleum prospectivity of the Tumbes Basin. • There are a large number of prospective featu
Slide 15: For personal use only
For personal use only ASX: CND • CONDOR ENERGY LIMITED L1, 10 Outram Street, West Perth WA 6005 P (08) 6243 0429 E info@condor-energy.com.au W condor-energy.com.au This presentation was approved for release by the Condor Energy Board ASX: CND • CONDOR ENERGY LIMITED
Slide 16: Appendix
ASX: CND • CONDOR ENERGY LIMITED Appendix For personal use only 16 condor-energy.com.au
Slide 17: Source Rock Maturity – Heath Formation
Source Rock Maturity – Heath Formation PEAK OIL MATURITY OVER MOST OF TEA AREA • The Heath Formation is the primary source rock based on analyses of onshore and offshore rock samples and oils For personal use only recovered within the basin. • Maturation modelling has been used to estimate present-d
Slide 18: Source Rock Maturity – Mancora Formation
Source Rock Maturity – Mancora Formation GAS MATURE OVER SIGNIFICANT PORTION OF TEA AREA • Shales within, or below, the Mancora Formation are the most likely source of gas in the Piedra Redonda gas field. For personal use only • Maturation modelling has been used to estimate present day Vitrinite Re
Slide 19: Technology
SW NE SE NW Technology NEW TECHNOLOGY TO PROVIDE INSIGHTS TO OLD DATASETS intersection intersection • Conventional seismic Direct Hydrocarbon Indicators (DHIs) such as Line Line amplitude anomalies and flat spots (Tumbes example below) can Amplitude Volume sometimes be used to identify potential acc