Sunda Energy PLC · LSE:SNDA
Sunda Energy — Baron Oil — Investor Presentation (February 2020)
15 slides from Sunda Energy's investor presentation, February 2020
Slide 1: Baron Oil Plc February 2020
BAR®N OIL Pic February 2020
Slide 2: Important Notice
IMPORTANT NOTICE The information contained in these slides and this presentation is being supplied to you by Baron Oil Plc (the "Company”) solely for your information and may not be reproduced or redistributed in whole or in part to any other person. This document has not been approved by a person a
Slide 3: Key Assets
KEY ASSETS Timor-Leste offshore Baron 25% indirect interest Significant Gas Discovery to be appraised Peru onshore Baron 50%+ interest UK North Sea – Moray Firth Near term drill-ready Prospect Baron 15% interest Prospects defined on 3D seismic Dunrobin Prospect structure map from 3D seismic data 3
Slide 4: Introduction
INTRODUCTION • Proposed Reverse Takeover discussions with SundaGas (Holdings) Pte.Ltd (“SundaGas”) were terminated amicably on 28 January 2020 owing to: • uncertainties around potential capital requirements and; • complications in the restructuring of the SundaGas subsidiaries • Timor-Leste TL-SO-19
Slide 5: Timor Leste Offshore TL-SO-19-16 PSC – Baron has 25% indirect interest
TIMOR LESTE– OFFSHORE TL-S0-19-16 PSC – BARON HAS 25% INDIRECT INTEREST Chuditch • Area 3,571,sq. km • Discovery by Shell in 1998 • Chuditch PSC is located approximately 185 kilometres south of Timor-Leste, 100 • 25m gas column (untested) kilometres east of the producing Bayu-Undan field and 50 kilo
Slide 6: Shell information on the 1998 Chuditch-1 discovery
SHELL INFORMATION ON THE 1998 CHUDITCH-1 DISCOVERY Derived from publicly released reports prepared by Shell Development (Australia) Pty. Ltd. (“Shell”) in 1998 and 2001 RESERVOIR PARAMETER RANGE SOURCE Net to Gross 60-90% Chuditch Core and Regional • Encountered a 25m gas column in the Jurassic Plov
Slide 7: Exploration potential and commitment
EXPLORATION POTENTIAL AND COMMITMENT • Phase One work will be to reprocess and map existing 2D seismic, together with 3D seismic recorded after Shell left the area, to high-grade appraisal drilling locations and improve understanding of resource potential Source: SundaGas Source: SundaGas tabulation
Slide 8: Regional gas fields and infrastructure
REGIONAL GAS FIELDS AND INFRASTRUCTURE Bonaparte Basin Gas Infrastructure Corporate Activity • TIMOR GAP acquired 56.56% of Greater Sunrise from Shell & ConocoPhillips for $650m (cash) in April 2019 • Discovered but Undeveloped 2C Contingent Resources 5,130 BCF and 226 MMB condensate (figures publis
Slide 9: Peru – Onshore Block XXI – El Barco Prospect
PERU – ONSHORE BLOCK XXI – EL BARCO PROSPECT Block XXI – 100% Interest held by Baron subsidiary Gold Oil Peru SAC (GOP), reducing to 50%+ on farmout • Approximately 2,425 Sq. km, relatively unexplored onshore block on trend with producing San Pedro oil field and Olympic gas fields • Modern 2D seismi
Slide 10: Peru – Onshore Block XXI – El Barco Prospect
PERU – ONSHORE BLOCK XXI – EL BARCO PROSPECT Source: Baron PROPOSED LOCATION SSE GOL-EL BARCO-XXI-63-3X NNW LINE 1016 CDP 680 TOP MINCHALES SAND -775m TOP MANCORA SAND -1367m AMPLITUDE ANOMALY TOP L. MANCORA SAND -1628m TOP PRE-TERTIARY -1677m This tabulation of Unrisked Prospective 1U 2U 3U Resourc
Slide 11: UK Offshore – 31st Round Awards: Inner Moray Firth Area
UK OFFSHORE – 31ST ROUND AWARDS: INNER MORAY FIRTH AREA – 15% Interest Licence P2470: Blocks 11/23, 11/24c and WICK WELL 11/25b: Additional Wick area small prospects Baron awarded 15% interest in 2 areas of the Inner • Wick well (11/24b-4), in relinquished Moray Firth, off NE Scotland under the 31st
Slide 12: UK Offshore P1918 Colter Area and Onshore PEDLs – 8% Interest
UK OFFSHORE - P1918 (98/11a) COLTER AREA AND ONSHORE PEDLs – 8% Interest • Well 98/11a-06 drilled in 2019 to prove extension of the 98/11-03 1986 discovery to the NE. Instead, the well proved an extension of the Colter South Prospect. The sidetrack (98/11a-06z) did not find the targeted upthrown Col
Slide 13: Current Position
CURRENT POSITION DIRECTORS AND MANAGEMENT MAIN EXPENDITURE IN 2020* • Malcolm Butler Executive Chairman Timor: Repayment of Carry • Andrew Yeo Managing Director • Jon Ford Independent NED Licensing of Seismic • Guillermo Nieto General Manager (Peru) Reprocessing and Interpretation of 3D & 2D Seismic
Slide 14: Summary
SUMMARY • Chuditch field already shown by Shell to contain material volumes of sales gas • Reprocessing of existing 3D and 2D seismic expected to lead to an upgrade of the area surrounding Chuditch-1 from Prospective Resources to Contingent Resources within 12 months • The Greater Sunrise transactio
Slide 15: Glossary
GLOSSARY BCF Billion cubic feet of natural gas. Contingent Resources Contingent Resources are those quantities of petroleum which are estimated, on a given date, to be potentially recoverable from known accumulations, but which are not currently considered to be commercially recoverable. Crude oil,