ADX ENERGY - Boerse Express

January 13, 2018 | Author: Anonymous | Category: Science, Biology, Ecology
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ADX ENERGY ACIVITY SNAPSHOT APRIL 2012 Paul Fink, Technical Director

DISCLAIMER This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be effected by a variety of variables which could cause actual results or trends to differ materially, including but not limited to: price fluctuations, actual demand, currency fluctuations, drilling and production results, commercialization, development progress, operating results, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial

markets conditions in various countries, approvals and cost estimates.

ADX ENERGY: Started in late 2007 ASX ticker: ADX Shares on Issue Maket Capitalisation @ 10 cents

411 million $

41.1 million

Options * * exercise price between 25 to 40 cents

Geographic focus  Energy exploration focused on North Africa, Mediterranean and Central Europe  Gold & Base Metals (via Riedel Resources) in Australia

31 million

EUROPEAN – NORTH AFRICAN ASSETS SICILY CHANNEL – OFFSHORE: ITALY & TUNISIA (5,000 sqkm)

Vienna

ONSHORE TUNISIA

ONSHORE ROMANIA

MILESTONES SINCE START IN LATE 2007 3D Seismic, 2010 ADX operated, PGS boat

ADX executed a +$60 million exploration program with only $12 million of shareholder funds.     

Acquire high quality assets in countries with excellent & stable fiscal regimes First Geostreamer 3D seismic acquired First ever Tunisian deepwater well drilled incident free  gas discovery Onshore Romania (ADX license, Petrom facilty) Offshore 2D seismic Onshore well drilled  oil discovery

Offshore Sicily ADX rig

Offshore Sicily ADX rig

Onshore Tunisia ADX rig

HOW DID WE DO - AND FUND IT? PART1/2 Directors Ian Tchacos Wolfgang Zimmer Paul Fink Andrew Childs

Non executive Chairman Managing Director Executive Director Non executive Director

Company Secretary Peter Ironside

………EXPERIENCED & PROVEN MANAGEMENT TEAM

HOW DID WE DO - AND FUND IT? PART2/2 70 Gross JV Operated Cost

60

50

58 MM

ADX Value ADX Contributed

40 32 MM

30

20 12 MM

10

0 Q1 10

Q2 10

Q3 10

Q4 10

Q1 11

Q2 11

Q3 11

Q4 11

……ADX COMPETENT OPERATOR – GOOD ASSETS – GOOD JV PARTNERS (E&P companies)

ADX ENERGY – NEAR TERM ACTIVITY MAP SICILY CHANNEL – OFFSHORE: DOUGGA RESOURCE UPGRADE FARM OUT EFFORTS TO START SOON TO:  FUND LAMBOUKA RE-ENTRY & DEEP POTENTIAL FUND DOUGGA APPRAISAL FUND EXPLORATION ACTIVITY

TUNISIA – ONSHORE CHORBANE: •TEST SIDI DHAHER OIL DISCOVERY •START APPRAISAL & DEVELOPMENT

ROMANIA- ONSHORE: FARM OUT PARTA TO FUND SEISMIC & WELLS, START 3D AND 2D SEISMIC IN Q2 – Q4 2012 GROW ASSET BASE

ENERGY ASSET SELECTED EXAMPLES Paul Fink, Technical Director www.adxenergy.com.au

TOP EIGHT EXPLORATION & APPRAISAL PROJECTS Gas condensate Oil 3D

Gas

Dougga –West

Medium risk

3D

Lambouka Deep

Kerkouane-1 Appraisal

CHS 3D

Lambouka Appraisal

3D ..to be acquired

Sidi Dhaher Test

3D

Dougga Appraisal

Low risk

Saint M

Mean Resources Size

SIDI DHAHER DRILLING SUCCESSFUL DRILLING OPERATION

    

Tunisia “Jasmine” revolution and uprising in neighboring Libya caused several weeks of delay. Completed a safe and timely drilling operation during a time of partial power vacuum. Developed a relationship of mutual trust with the local population. ADX was the only company drilling in a populated area at the time. Other operators declared force majeure. Sidi Dhaher TD’ ed at 2,011 meters in the 3rd week of September.

SIDI DHAHER DRILLING SIDI DHAHER-1

SIDI DHAHER OIL RESOURCE POTENTIAL

Pressure (PSIA)

1400 1100

1500

1600

1700

Oil gradient

MDT Oil sample

Depth

1150

1200

Formation Water gradient 1250

 Risk Category STOIIP [mmbbls]

P90 13

P50 37

Mean 51

P10 111



Three Cretaceous reservoirs pre drill (Abiod, Douleb, Bireno)

Oil found in Bireno reservoir, others Oil in place resource estimates, recovery factor to be determined post well test absent

OFFSHORE ITALY & TUNISIA Combined most likely contingent and prospective resources:

1.15 billion barrels of oil equivalent.

Kerkouane-1 Lambouka Elissa

Dougga - West

Total ADX permit areas approx. 5,000 sqkm (1,23 MM acres)

15

VISION : THE DOUGGA HUB A LARGE GAS CONDENSATE RESOURCE CLOSE TO MARKETS

  

  

15 km Dougga West Satellite Exploration

Dougga Appraisal

Lambouka Appraisal & Drill Deeper

Condensate-rich resource Possibility for oil Close to shore (40kms) Close to onshore infrastructure Close to high price local and European markets Proximal tie – in opportunities covered by 3D

226 mmboe

173 mmboe

126 mmboe

525 mmboe within a radius of 15 km (mean resources) Covered with Geostreamer 3D Proven Hydrocarbons - Low to medium risk upside

DOUGGA GAS CONDENSATE FIELD RESOURCES CB run Jan 2012, GRV method

Total RECOVERABLE MMBOE Abiod RECOVERABLE MMBOE Total Sales Gas recoverable [bcf] Total Condensate Recoverable [mmbbls] Total LPG Recoverable [mmbbls]

p90 88 71 264 35 12

p50 159 133 476 63 21

MEAN 173 142 517 68 23

p10 268 225 804 106 36

PRODUCTION FORECAST (TRACS, COOL ENERGY) Sales Gas

CO2

50 MMscfpd

32 MMscfpd

Fuel Gas 4 MMscfpd Raw Gas 106 MMscfpd

Condensate 114 kmol/hr

 50 mmscf/d sales gas (base case)  9,400 bopd condensate production  3,200 bopd LPG production  project NPV (10) 1.6 Billion USD (ADX share currently 60%)

Dougga total daily production: 22,000 boepd (Austria’s OMV total production in Pakistan, Yemen, Kurdistan, Kazakhstan: 27,000 boepd) (source: OMV annual report 2010)

DEVELOPMENT PLAN & CASH FLOW Discounted (10%) Project Cash Flow 350.0 250.0 150.0

MM US$

50.0 -50.0 0

5

10

15

20

25

-150.0 -250.0 -350.0 -450.0

Hannibal Gas Plant, Sfax, Tunisia

Years

 project NPV (10): 1.6 Billion USD (ADX share currently 60%)

 Revenue at today’s oil & gas prices: 8.3 Billion USD

Sources: Offshore, Petrofilm, BG

KEY STRATEGIES Corporate Strategy  Early entry to high impact exploration opportunities in proven oil and gas basins.  Commercialisation of existing discoveries. Operating Strategy  Maintain operatorship through the exploration - appraisal phase of the asset cycle.  Use leading edge technology to reduce risk

Funding Strategy  Fund drilling via farmouts, retain large interests in material prospects with potential to deliver exceptional shareholder returns.

NEAR – MID TERM NEWS FLOW  Test Results of Sidi Dhaher oil discovery: fast track production  Farm out parts of Offshore Sicily to fund appraisal of Dougga, Lambouka  Farm out parts of Romania to fund seismic and first well  Dougga Appraisal & Well Test

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