Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — Investor Presentation (July 2020)
14 slides from Carnarvon Energy's investor presentation, Jul 14, 2020
Slide 1: Investor conference presentation
For personal use only Investor conference presentation 14 July 2020
Slide 2: Disclaimer and Resource Information
DISCLAIMER AND RESOURCE INFORMATION The resource estimates outlined in this Presentation are based on and fairly represent information and supporting documentation prepared by the Company’s Chief Operating Officer, Mr Philip Huizenga, who is a full-time For personal use only employee of the Company.
Slide 3: Presentation Content
PRESENTATION CONTENT For personal use only 1 2 3 4 CORPORATE DORADO BEDOUT DIVERSE DASHBOARD DEVELOPMENT EXPLORATION PORTFOLIO Snapshot of the Carnarvon The liquids development is in Large new sub-basin, new 3D Carnarvon holds a diverse business and its strategic concept select phase with FEED seism
Slide 4: Corporate Dashboard
11 CORPORATE DASHBOARD For personal use only FILES Dorado Bedout $300 million 150 million New basin, Market value at $0.195 per share barrels of oil CVN holds in stage 1 commanding development position $118 million (Gross 2C, CVN 20%) Cash at 31 March 2020 (no debt) 100,000 COVID-19 Share price REVE
Slide 5: Location
2 DORADO DEVELOPMENT For personal use only LOCATION In Australia 90m water depth 150km from Port Hedland Roc field (2016) Dorado field (2018) SCALE Dorado is a large field Roc field is nearby Material exploration upside
Slide 6: Discovered and Appraised
2 DORADO DEVELOPMENT For personal use only DISCOVERED AND APPRAISED 2018 Dorado-1 discovery 2019 Dorado appraised (2 wells) Combination of oil and gas Four quality reservoirs (Caley, Baxter, Crespin & Milne)
Slide 7: Proposed Dorado Development
2 DORADO DEVELOPMENT For personal use only CONVENTIONAL Conventional industry development Stage 1 - oil & condensate FPSO Future stage 2 – gas & LPG’s WHP Subsea infrastructure Production & gas KEY POINTS (stage 1) re-injection wells 75,000 to 100,000 bopd initially Only 8 to 10 wells (incl. re-inje
Slide 8: Concept Select Phase (Pre-FEED) to be completed this quarter
2 DORADO DEVELOPMENT For personal use only CONCEPT SELECT PHASE (PRE-FEED) TO BE COMPLETED THIS QUARTER Three parties short Three short listed listed in WHP parties in competitive tendering phase FPSO design phase Subsea infrastructure Conceptual design for pre-FEED contract the production wells iss
Slide 9: Engineering Design (FEED) expected to commence late this quarter
2 DORADO DEVELOPMENT For personal use only ENGINEERING DESIGN (FEED) IS EXPECTED TO COMMENCE LATE THIS QUARTER FEED Q3, CY20 FINAL INVESTMENT DECISION IN CY211 FPSO construction WHP construction Production well drilling Subsea infrastructure manufacture & installation Commissioning FIRST PRODUCTION
Slide 10: Bedout Exploration
3 BEDOUT EXPLORATION For personal use only LOCATION BEDOUT SUB-BASIN Liquids rich petroleum system High drilling success in current JV Multiple play types exist CURRENTLY Interpreting new quality 3D data Maturing preferred drill targets Planning for drilling CY211 1: Subject to market conditions
Slide 11: Bedout Exploration: New 3D Seismic
3 BEDOUT EXPLORATION For personal use only DORADO CHANNEL LOCATION NEW 3D SEISMIC SHALE New data improving target imaging SEAL Apus prospect large updip feature Pavo prospect also attractive SEISMIC LINE THROUGH DORADO (LHS) TO APUS (RHS)
Slide 12: Diverse Portfolio
4 DIVERSE PORTFOLIO Buffalo Project – oil field Operator: Carnarvon Timor Leste PSC 100% For personal use only Angus Project – oil play Operator: Carnarvon Timor Former JPDA Permits: WA-523-P Timor-Leste 100% Treaty Boundary Condor Project – oil play Eagle Project – oil EXPLORATION Dorado and Roc –
Slide 13: Diverse Portfolio: Buffalo Project
4 DIVERSE PORTFOLIO For personal use only BUFFALO PROJECT 4 Proven oil field Undrained attic oil Robust economics Low cost development Resource upside In field & exploration Australian Timor Leste jurisdiction jurisdiction
Slide 14: Questions
QUESTIONS For personal use only 1 2 3 4 CORPORATE DORADO BEDOUT DIVERSE DASHBOARD DEVELOPMENT EXPLORATION PORTFOLIO Snapshot of the Carnarvon The liquids development is in Large new sub-basin, new 3D Carnarvon holds a diverse business and its strategic concept select phase with FEED seismic and a po