MOPNG INTERACTIVE SESSION

Transcription

1 MOPNG INTERACTIVE SESSION MUMBAI OCTOBER

2 WHO IS OILEX OILEX Limited a company founded in 2003 Dual Listed Australia (ASX) & UK (AIM) Operating in India for over 10 years focus on Cambay Basin Strong management team and board, experienced in finding, developing and financing projects Drilled 9 wells in India including India s first multi-stage stimulated horizontal well Established oil and gas production Current gas production from tight siltstones requiring stimulation One of small number of foreign companies operating in India Very capable Indian team in Ghandinagar all Indian nationals Actively seeking new projects in India Page 2

3 HOW OILEX S INVESTOR PRESENTATIONS DESCRIBE INDIA Page 3

4 CAMBAY PROJECT Page 4

5 CAMBAY PROJECT A Multi-TCF project in the Cambay PSC in EP-IV Eocene tight siltstones Requires horizontal wells with multi-stage fracture stimulation India s first long horizontal stimulated well drilled by Oilex JV in 2011 Second horizontal well drilled in 2014 Working to achieve commercial production Project fundamentals recently validated by Baker Hughes-GE study, and Process for next work phase defined Field Development Plan completed (GERMI) and submitted to DGH Cost effective phased development schedule commencing with workovers in 2018 Addition to India s domestic gas and ground-breaking project Results of earlier stimulation attempts frac lost outside of reservoir Modelled effective result Cambay-11 Flowed trace oil and gas Cambay-19z ~0.8 MMscfd bopd Cambay-01 ~57 bopd Cambay-07 ~38 bopd Cambay-57 ~7 bopd Cambay-03 High pressure gas + oil Cambay MMscfd + 46 bcpd 4.1 MMscfd bcpd 3.1 MMscfd + 74 bcpd Cambay-63 & 70 Intermittent oil producers Cambay MMscfd bcpd 2.1 MMscfd + 63 bcpd 1.5 MMscfd + 63 bcpd Cambay-77H 2 MMscfed Cambay Mscfd + 44 bcpd 551 Mscfd + 41 bcpd 512 Mscfd + 40 bcpd Cambay-73 ~1 MMscfd + 50 bcpd Cambay MMscfd + 61 bcpd Cambay-10 Little oil with swabbing Cambay-49 Little oil and 353 scfd Flow Test Rates from EP-IV Vertical Wells Page 5

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7 Thousand BOEPD Thousand BOEPD WHY INDIA Focus on India based on growth fundamentals major changes in last few years World s Fastest Growing Economy Govt fully invested in securing domestic production Oil & Gas Demand Increasing 80% of oil imported Doubling of LNG Imports Forecast Largest Energy Market Oil & Gas Production Aust India Oil & Gas Consumption Aust India Underexplored Prolific Basins Source: BP Energy Outlook for India to 2035 Page 7 ExxonMobil the Outlook for Energy: A View to 2040

8 INDIA S CALLING CARD Entire sedimentary basins under the NEW policy regime with attractive features Discovered Small Field (DSF) Round First round completed, 2nd round coming Open Acreage Licensing Program (OALP) Pet Operations Contract (POC) and Reconnaissance Contract (RC) 3rd party entry to NOC fields Production Enhancement Contract (PEC) Opportunities in Enhanced Recovery EASE OF ENTRY Nominal Application Fees and Reasonable Bid Participation Bond Reasonable Technical Qualification Criteria Low Financial Qualification Criteria Due Diligence Report of the geological Prospectively Page 8

9 RECENT NEWS IS TELLING INDIA S STORY Page 9

10 INGREDIENTS FOR SUCCESS Page 10

11 INDIA ATTRACTING INVESTMENT Government support and stability Low Sovereign Risk Decisive and flexible regulator» Fast approval times» Clear rules and regulations in one stop shop Technical Proficiency» Understand risk/reward from sub-surface viewpoint» Tapping into global best knowledge, practice and culture Data Sharing and Availability» Available on-line and at low cost» Operators must submit quality final data to government Good Partners» Co-operative culture, Sharing expertise, Financially ready and responsive» Providing challenge and technical peer review. Sense check. Corporate culture required for high risk, high cost, complex projects» Consultative, Sharing» Informed, involved, interactive staff. Devolved decision making. Cross-discipline integration» Creative, inquisitive, new ideas and technology that advances» Commercial astuteness looking for new opportunitues» Cost consciousness and care We cannot change the rocks, Risk abounds, Our industry must: Promote open access, Promote data Sharing, Collaborate and share Ideas, Be open to new ideas and technologies Honour rights of all stakeholders Respond on a timely basis Retain flexibility Understand the risk level, Match expenditure to this, Adopt best practice across all disciplines, Be creative and think laterally, International Best Practice Page 11

12 An OIL and GAS Focused Company Large Gas Resource Multi-TCF Focus on Booming Indian Energy Market ASX : OEX AIM: OEX