3d Energi Limited · ASX:TDO
3d Energi — 3D Oil — Shareholder Meeting (November 2008)
28 slides from 3d Energi's shareholder meeting presentation, Nov 28, 2008
Slide 1: Managing Director's Presentation – Annual General Meeting
3D Oil Limited For personal use only Managing Director’s Presentation Annual General Meeting 28 November 2008 Stamford Stamford Plaza Plaza Collins Collins Street Street Melbourne 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: Corporate Summary
Corporate Summary For personal use only ¾ 3D Oil formed July 2003 ¾ Listed on the ASX 22 May 2007 ¾ Shares on issue 206.6 mill ¾ Unlisted options 19.125 mill ¾ Market Capitalisation $A14.5 mill ¾ Top 20 shareholders 124 mill shares (60%) ¾ Cash October 31 2008 $A12 mill
Slide 4: Highlights
Highlights For personal use only ¾ 3D Oil successfully undertakes its first significant offshore operations ¾ West Seahorse-3 suspended for future production ¾ 7.86 mill bbls in West Seahorse (2P reserves+P50 contingent resources) ¾ WorleyParsons undertook pre FEED to review new development options
Slide 5: Oil Price Outlook
Oil Price Outlook For personal use only The International Energy Agency expects oil import prices will rebound to average $100 a barrel between 2008 and 2015 and that the threat of a “supply crunch'' remains. The impact of the global financial crisis on demand won't be sufficient to offset rising de
Slide 6: Oil Price
Oil Price Oil price history since the 3D Oil listing For personal use only 160 US Dollars 140 Australian Dollars 120 Oil Price ($) 100 80 $A/bbl is still attractive 60 40 Apr-07 Aug-07 Nov-07 Feb-08 Jun-08 Sep-08 Dec-08
Slide 7: Peers Comparison
Peers Comparison Market capitalisation relative to 2P reserves – Producers and Developers For personal use only 30 2P Reserves 25 Nido Petroleum AWE Increasing value Market Cap/2P Reserves 20 Carnarvon Petroleum 15 Tap Oil Beach Petroleum AED Oil 10 Roc Oil 5 Nexus Energy 3D Oil - Source: Company Re
Slide 8: Assets and Potential
Assets and Potential 3D Oil Assets For personal use only Vic/P57 T41-P 100% 100% ¾ West Seahorse 7.86 MMstb ¾ New seismic VIC/P57 (reserves+contingent) with indicates more development strategy structured and prospective ¾ New development model being progressed T41-P ¾ At least 16 leads identified to
Slide 9: Strategy
Strategy Aim To become highly efficient and technically driven mid cap explorer and producer For personal use only ¾ Early acquisition of quality assets in areas of competitive advantage ¾ Early production from expected increasing reserve and resource base ¾ Mitigate risk via farmout when appropriat
Slide 10: Strategy
Strategy For personal use only Short term focus in capital constrained market ¾ Seek industry partnerships for exploration ¾ Delay non critical exploration expenditure ¾ Seek opportunities with delayed expenditure commitments
Slide 11: Oil Volume Breakdown
Oil Volume Breakdown West Seahorse 100% owned For personal use only 9 8 Contingent Resources Reserves 7 West Seahorse-1 West Seahorse-3 6 MMbbl 5 4 3 West Seahorse-2 2 Wardie-1 1 0 1P 2P 3P P90 P50 P10 2P+P50 1P 2P 3P Reserves MMstb MMstb MMstb N1 and N2.6 3.12 4.63 6.04 Low Estimate (P90) Best Esti
Slide 12: Drilling Summary
Drilling Summary N1 (Top porosity) Depth Pre Drill For personal use only ¾ Pre drill maps on West Seahorse and Wardie very exciting ¾ Two depth conversion methods (Stacking and Wardie West Seahorse Well velocity) gave conflicting results ¾ Stacking Velocity method (3D Oil version) has historically w
Slide 13: Drilling Summary
Drilling Summary For personal use only Wardie-1 WSH-2 West Seahorse-3 WSH-1 Drilling Objectives • Appraise the West Seahorse Field. N1 • Confirm OWCs in N1, N2.6 and P1 reservoirs • Production test at least one zone N2.6 • Evaluate all levels in Wardie-1. P1
Slide 14: Drilling Summary
Drilling Summary For personal use only Wardie-1 Results West Seahorse-3 Results ¾ Targets intersected 14m ¾ A gross oil-bearing low to prognosis interval of 18 m and 9m net oil column was present in the high- ¾ Oil was present, and quality N1 channel sampled, over sandstones. approximately 20 m in a
Slide 15: Drilling Summary
Drilling Summary For personal use only Drilling Wrap up ¾ Drilling did not increase reserves base Wardie-1 West Seahorse-3 ¾ Well velocity depth conversion method appears more reliable in West Seahorse vicinity ¾ N1 oil and reservoir quality confirmed ¾ West Seahorse-3 suspended to enable re- entry,
Slide 16: West Seahorse Development
West Seahorse Development For personal use only An ideal location ¾ Close to shore and pre- existing offshore facilities Vic/P57 ¾ Shallow water ¾ Direct onshore development options previously tested ¾ Shallow oil accumulations with strong water drive and excellent reservoir quality
Slide 17: West Seahorse; the way forward
West Seahorse; the way forward For personal use only Offshore Development Options Options: 1. 3D Oil Offshore/Onshore Development: MOPU Export to shore 2. 3D Oil Offshore: MOPU/FPSO Export to tanker 3. 3D Oil Offshore Development: Third Party Facility Tie Back
Slide 18: West Seahorse; the way forward
West Seahorse; the way forward For personal use only Offshore Stand alone option - MOPU ¾ Converted jackup as production facility ¾ Intended for use in marginal field, early production applications and shallow water ¾ Fast track delivery, target under 12 months (design, build, install) ¾ Lease optio
Slide 19: West Seahorse; the way forward
West Seahorse; the way forward For personal use only MOPU/Export to shore 4” coiled tubing to shore Directional drilled shore crossing 6” pipeline to suitable storage location Storage and loading facility te route Alterna Crude oil trucked to refinery
Slide 20: West Seahorse; the way forward
West Seahorse; the way forward For personal use only Complete Pre FEED review with WorleyParsons Sequence Independent expert’s certification of reserves and development strategy Field development plan & FEED Source funding
Slide 21: Exploration Vic/P57, Victoria
Exploration Vic/P57, Victoria For personal use only A great address ¾ Historically, highest exploration success rate in Australia. ¾ Vic/P57 has been very lightly explored ¾ Adjacent numerous oil and gas fields
Slide 22: Exploration Vic/P57, Victoria
Exploration Vic/P57, Victoria At least nine prospects and leads defined by 3D seismic For personal use only Nicholson Scooter Hector Kangafish Lucifer Salsa Dexter Felix Sea Lion
Slide 23: Exploration Vic/P57, Victoria – Sea Lion
Exploration Vic/P57, Victoria Sea Lion Perhaps the best undrilled prospect in the Gippsland Basin For personal use only • On trend with West Seahorse on Low Mid High Prospective Resources Case Case Case the prolific Rosedale Fault Sea Lion 11.9 20.7 32.3 • Covered by 3D seismic Independent expert’s
Slide 24: Exploration Vic/P57, Victoria – Felix
Exploration Vic/P57, Victoria For personal use only Felix An exciting prospect surrounded by discoveries • Structure on the basinward side of the prolific Rosedale Fault Moonfish • On trend with the Moonfish and Wirrah structures. Felix Felix • The neighbouring Moonfish Field intersect 5 hydrocarbon
Slide 25: Exploration Vic/P57, Victoria – Lucifer
Exploration Vic/P57, Victoria For personal use only Lucifer A newly recognised Longtom play Dexter Lead KangaFish Lucifer Lead Patricia • Gas play trend Sperm Whale Lead Sweetlips Longtom Emperor •One of three Longtom style leads in Vic/P57 Sunfish Salsa Lead Wirrah Tuna • Similar geology and geomet
Slide 26: Exploration T41/P, Tasmania
Exploration T41/P, Tasmania Bass Basin an exciting emerging petroleum province For personal use only T41/P Yolla Field 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
Slide 27: Exploration T41/P, Tasmania
Exploration T41/P, Tasmania For personal use only New seismic has uncovered many new leads T/41P ¾ 16 leads currently identified from Tolpuddle newly acquired 2200 km of seismic ¾ Seismic anomalies often indicative of Delamere Pembroke hydrocarbons are associated with some leads Hillwood Tamar Humbu
Slide 28: Summary
Summary For personal use only ¾ Pre FEED on West Seahorse near complete ¾ West Seahorse-3 well suspended as a future producer ¾ N1 reservoir quality is excellent and oil quality confirmed ¾ Seeking leverage from active farm out campaign of VIC/P57 ¾ Large portfolio of quality leads and prospects pro