Mec Resources Ltd · ASX:MMR
Mec Resources — Rodman & Renshaw Annual Global Investment Conference 2010
48 slides from Mec Resources's conference presentation, May 18, 2010
Slide 1: Rodman & Renshaw Annual Global Investment Conference, London
For personal use only Rodman & Renshaw Annual Global Investment Conference London, 16 16--18 May 2010
Slide 2: Drilling Rig Contracted to Drill the First Well Offshore NSW
Drilling Rig Contracted to Drill the First Well Offshore NSW •Contract with Apache Energy Ltd and For personal use only Diamond Offshore Drilling (Australia) LLC for semi-submersible drilling rig Ocean Patriot •Will be the first well to explore for natural gas in the offshore Sydney Basin •Anticipat
Slide 3: Advent Energy Shareholding Structure
Advent Energy Shareholding Structure For personal use only MEC Resources Ltd BPH Corporate Ltd ASX: MMR ASX: BPH 117 7 million shares 117.7 206 9 million 206.9 illi shares h Mkt Cap $48.8 million Mkt Cap $16.5 million (12th May 2010) (12th May 2010) Other shareholders including Grandbridge Ltd (ASX:
Slide 4: PEP11 Opportunity
Offshore Sydney Basin : PEP11 Opportunity • NSW/PEP 11 covers 8250 sq q km,, 20 km from Australia’s For personal use only largest energy market, excellent infrastructure • Permit Prospective Recoverable Resources previously estimated at up to 16.3 Tcf; mean = 7.5 Tcf • New additional Cainozoic strat
Slide 5: Australian LNG
Australian LNG Operator p Project j Size Production / Sales $Export p Life For personal use only Value per year (ABARE 2008 data) Woodside Pluto 4.1 Tcf 3.25-3.75 Mtpa $2.03 billion 15 years (+ 0.5 Tcf Xena) LNG (+5 yr option) Inpex Ichthys 12.1 Tcf 8 Mtpa LNG $4.4 billion 40 years ($20 billion 1.6
Slide 6: Proven Petroleum Basin with Potential Huge Gas Reserve
Offshore Sydney Basin – Proven Petroleum Basin with Potential Huge Gas Reserve For personal use only Lord Howe Rise: •4.5 billion boe •98.5% methane PEP11 Offshore Sydney Basin “…sea floor spreading commenced at 65-70 million years before present resulting in the separation of the Lord Howe Rise fro
Slide 7: Schematic Upper Cretaceous Paleogeography
Offshore Sydney Basin …this is not surprising p g as these basins were located close to each other in the Cretaceous and had a similar evolutionaryy histor historyy For personal use only Schematic Upper Cretaceous Paleogeography Sydney Basin Lord Howe Rise: •4.5 billion boe •98.5% methane Taranaki B
Slide 8: Proximity to the Port of Newcastle
Proximity to the Port of Newcastle For personal use only PEP11 Port of Newcastle
Slide 9: Possible Trap Styles
Offshore Sydney Basin : Possible Trap Styles 1. Transpressional, wrench related structures For personal use only 2. Overthrust traps on W margin of Offshore Uplift, include 4 way dip closures 3. Mild basin inversion structures 4. Sub-thrust plays along E edge of Offshore Syncline 6. Stratigraphic /
Slide 10: Structural View From East to West
Offshore Sydney Basin : Structural View From East to West For personal use only North Fish South Fish Baleen Blue Sei Humpback Orca Large well timed structures with both four way dip and fault closures
Slide 11: A Proven Petroleum Basin With Potential Huge Gas Reserve
Offshore Sydney Basin – A Proven Petroleum Basin With Potential Huge Gas Reserve – Prospective Recoverable Resources of 16.3 Tcf (P10) previously estimated for the Permit. For personal use only
Slide 12: B4-15 Full Stack seismic data
Total Depth B4‐15 Full Stack seismic data For personal use only CSIRO: “AVO analysis CSIRO l i shows h indication i di ti off class III AVO classification. Class III AVO anomaly generally stands for gas sands.” “Soft” high amplitude reflectors B A Fugro; John Cant Validation Zones of interest Zones
Slide 13: New Cainozoic stratigraphic target of 6.09 Tcf
For personal use only Seaclem-1 New additional Cainozoic stratigraphic t ti hi target t t off 6 6.09 09 Tcf T f (P50 OGIP). P90 = 1.77 Tcf OGIP and P10 = 24.76 Tcf OGIP 2,000 km2
Slide 14: PEP11 – Similarities with AWE Taranaki Bahamas Play
PEP11 Offshore Sydney Basin – Similarities with AWE Taranaki Bahamas Play For personal use only
Slide 15: PEP11 – Similarities with AWE Taranaki Bahamas Play
PEP11 Offshore Sydney Basin – Similarities with AWE Taranaki Bahamas Play For personal use only
Slide 16: PEP11 – Similarities with AWE Taranaki Bahamas Play
PEP11 Offshore Sydney Basin – Similarities with AWE Taranaki Bahamas Play For personal use only AWE - Taranaki
Slide 17: PEP11 – Similarities with AWE Taranaki Bahamas Play
PEP11 Offshore Sydney Basin – Similarities with AWE Taranaki Bahamas Play For personal use only AWE - Taranaki
Slide 18: CSIRO AVO analysis: class III AVO
CSIRO: “AVO analysis shows indication of class III AVO classification. Class III AVO For personal use only anomalyl generally ll stands t d forf gas sands.” d ” Carbonate Ca bo a e Platform a o S Sitting goon Prograding og ad g Delta; e a; Prograding Sands
Slide 19: CSIRO AVO analysis: class III AVO
CSIRO: “AVO analysis shows indication of class III AVO classification. Class III AVO anomaly generally stands for gas sands.” For personal use only Carbonate Ca bo a e Platform a o S Sitting goon Prograding og ad g Delta; e a; Prograding Sands 10 km from B4-14
Slide 20: CSIRO AVO analysis: class III AVO
CSIRO: “AVO analysis shows indication of class III AVO classification. Class III AVO anomaly generally stands for gas sands.” For personal use only Carbonate Platform Sitting on Prograding Delta; Prograding Sands B4-22-b (07April2010) 27.5 km from B4-14
Slide 21: Interval velocity profile from Fugro
Total Depth Interval velocity profile from Fugro For personal use only Low Stackingg velocities B A Zones of interest Stacking velocities are 50% lower in highlighted area Zones of Interest Return to Contents
Slide 22: Direct Hydrocarbon Indicators
Offshore Sydney Basin – Direct Hydrocarbon Indicators For personal use only DHI hhave b been iinitially iti ll observed b d on seismic i i line B4-15 along the main structural trend and are adjacent to the previously identified Baleen Prospect. p The features are typically prime indicators for the o
Slide 23: Direct Hydrocarbon Indicators
Offshore Sydney Basin – Direct Hydrocarbon Indicators For personal use only Figure 69: Display of Line B4-15. Figure 70: The continuity of high amplitude reflector has been mapped. Reflection Strength plot of the high amplitude reflector “Strong energy reflections present on “Gas reservoirs, in part
Slide 24: Direct Hydrocarbon Indicators
Offshore Sydney Basin – Direct Hydrocarbon Indicators For personal use only Figure 74: RMS of seismic amplitude over the Figure 72: Instantaneous frequency plot for the high amplitude area of Line B4-15, where high amplitude reflector. It is showing low frequency anomaly. reflector is mapped. “The R
Slide 25: PEP11: Distribution of Gas Chimneys
PEP11: Distribution of Gas Chimneys For personal use only B4 15 B4-15 B4-16 B4-17 B4-18 B4-19 B4-20 B4-15 B4-16 B4-17 B4-18 J. Whelan: “seismic signals are smeared to considerable depth as a result of vigorous gas seepage” B4-19 B4-20
Slide 26: Hydrocarbon Reservoirs and Gas Chimney Models
Hydrocarbon Reservoirs and Gas Chimney Models For personal use only Source: dGB Earth Sciences
Slide 27: B4-16 Preliminary Final PSTM (Zoom)
B4-16 Preliminary Final PSTM (Zoom) For personal use only Data reprocessing from phase 2, 2009 indicates a flat spot on the time processing within structure on line B4-16 which may warrant further investigation. Area of interest is cmp p 900 to 1060 (2 kms) at a time of 1500ms and 1700ms. Note polar
Slide 28: Comparable HRDZ with Australian O&G Fields
Offshore Sydney Basin – Comparable HRDZ with Australian O&G Fields. For personal use only Cornea Browse Cornea, Skua and Swift, Bonaparte Lord Howe Rise: •4.5 billion boe •98.5% methane HRDZ PEP11 Offshore Sydney Basin “…sea floor spreading commenced at 65-70 million years before present resulting i
Slide 29: HRDZ comparison between PEP11 Line B4-05 and Bonaparte Basin
HRDZ comparison between PEP11 Line B4‐05 and Bonaparte Basin For personal use only “Soft”High Amplitude Anomaly HRDZ HRDZs over the Skua and Swift fields, Bonaparte Basin [Source O’Brien, Geoscience Australia] HRDZs on PEP11 seismic line B4‐05
Slide 30: HRDZ comparison between PEP11 Line B4-11 and Vulcan Sub-Basin
HRDZ comparison between PEP11 Line B4‐11 and Vulcan Sub‐Basin “… ‘forced regressive shorelines’ and this concept is of considerable For personal use only importance to the hydrocarbon industry because of the significant potential for good reservoir development.” (Boyd et al, RV Franklin Cruise FR15/
Slide 31: Brazilian Analogue for New Prospective Hydrocarbon Plays
Offshore Sydney Basin : Brazilian Analogue for New Prospective Hydrocarbon Plays For personal use only
Slide 32: Amplitude Anomaly Along Continental Margin
Offshore Sydney Basin : Amplitude Anomaly Along Continental Margin For personal use only 2 B4-05 1 B4-13 B4-11
Slide 33: Analysis of Inshore Gas Seepage
Analysis of Inshore Gas Seepage from Offshore Sydney Basin Repeated Hydrocarbon seep samples show a thermogenic source For personal use only - Liquids component indicated - Hydrocarbon Seep Gas Analysis: •Methane 90.69% •Oxygen 1.58% •Carbon Dioxide 4.12% •Nitrogen 3.7% “It is generally assumed that
Slide 34: Swath Survey 2006
Offshore Sydney Basin: Swath Survey 2006 For personal use only D. Schumacher: “Hydrocarbons seep in large concentrations in basins actively yggenerating g hydrocarbons y or that contain excellent migration pathways” Pockmark over 282,000m3 Image courtesy Ron Boyd, University of Newcastle
Slide 35: Geophysical Gas Indications
Geophysical Gas Indications For personal use only TOPAS Sub bottom profiles from SS10 / 2006
Slide 36: Slope Failure, Gas Seepage, Major Hydrocarbon Province
Slope Failure, Gas Seepage, Major Hydrocarbon Province Norway: 2nd largest gas For personal use only 5th largest oil (global exports) Source: EIA and IEA Slope Failure Production Norway: Ormen Sydney Basin Continental Margin Lange 14 Tcf Source: European Commission Slumps: over 28 cu. km
Slide 37: Gulf of Mexico
Gulf of Mexico For personal use only Source: Whelan, Marine & Petr Geol 2005 Gulf Coast transect: general schematic diagram of subsurface oil and gas flow consistent with geochemical, geological, and fluid flow modelling (from Whelan, Marine & Petr. Geol. 2005) Nearly all the important oil producing
Slide 38: Sydney Basin Petroleum Systems Summary
Sydney Basin Petroleum Systems Summary For personal use only From Blevin et al., 2007, Sydney Basin Reservoir Prediction Study and GIS, Project MR705, Confidential Report to NSW DPI and Macquarie Energy by FrOG Tech Pty Ltd
Slide 39: Sydney Basin Petroleum Systems Summary
Sydney Basin Petroleum Systems Summary For personal use only From Stephenson & Burch, 2004, Preliminary Evaluation of the Petroleum Potential of Australia’s Central Eastern Margin (GA12988 )
Slide 40: Comparison with Bowen/Surat Basin
Offshore Sydney Basin : Comparison with Bowen/Surat Basin [Origin Energy] For personal use only 6. Stratigraphic / structural+stratigraphic (e (e.g. g identified by AVO)
Slide 41: Comparison with Bowen-Surat Superbasin
Offshore Sydney Basin : Comparison with Bowen‐Surat Superbasin For personal use only B4-05-FUG09
Slide 42: Petroleum Association and Reservoir Model
Offshore Sydney Basin : Petroleum Association and Reservoir Model Redox Anomaly For personal use only Gas Bubbles/Thermogenic Hydrocarbon Seepage Mound Amplitude Anomaly Gas Chimney Flat Spot? Pockmark B4-18 HRDZ AVO
Slide 43: New South Wales: State of the Market
New South Wales : State of the Market (AGL, NSW Min. Exp. & Inv. Conf.) For personal use only NSW Government objective is for future baseload power generation to be gas fuelled – The Australian 19/11/2009
Slide 44: Gas Market – ACIL Tasman
Gas Market – ACIL Tasman (20:20 Investor Seminar 21 August 2009) For personal use only
Slide 45: LNG Market
LNG Market “LNG supplies pp only y 2% of world energy” gy – BRW June 2009 For personal use only
Slide 46: Advent Energy Ltd
Advent Energy Ltd Background Key Personnel For personal use only •Formed d iin 2004 as an unlisted li d oilil and d gas exploration l i and d production d i company Mr Goh G h Hock H k – Chairman: Ch i A fformer President id off SSchlumberger hl b A Asia i and d then h a based in Perth, Western Aust
Slide 47: Contributions Gratefully Acknowledged and References
Contributions Gratefully Acknowledged and References Data, advice, review and technical contributions gratefully Publications For personal use only acknowledged •Jim Dirstein - -Total Depth - Principal Geophysical Consultant PTEM •AAPG Memoirs ”Hydrocarbon migration and its Near surface Migration” s
Slide 48: David Breeze, Advent Energy Limited
For personal use only David Breeze Advent Energy Limited Ph +61 8 9328 8711 david@adventenergy.com.au Director 14 View Street Fax +61 8 9328 8733 www.adventenergy.com.au North Perth WA 6006 Australia DISCLAIMER Advent Energy Ltd (Advent Energy) has prepared this Company Introduction Presentation. Wh
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