PowerPoint Template Title. Upside Potential Eland Oil and Gas Capital Markets Day

Transcription

1 PowerPoint Template Title Upside Potential Eland Oil and Gas Capital Markets Day

2 Ubima OML 40 Prospect Inventory Cluster / hub approach Examples o Dudu Town East o Abiala o Polobo o Amobe Potential reserves and production growth Slide: 2 Capital Markets Day

3 Ubima time slice at 1,900 ms Omerelu-1 Ubima-4 Ubima-2 Ubima-1 Ubima-3 Isu-1 Slice depth approximately = E2000 reservoir level Slide: 3 Capital Markets Day

4 Estimated STOIIP by reservoir interval D1000 Combined Mid STOIIP 85 MMstb E1000/E2000 Combined Mid STOIIP 31 MMstb F7000 Mid STOIIP 0.4 MMstb Figures shown do not allow for uncertainty in depth structure D1000 high cases require seal on northern boundary fault (not proven)

5 Ubima Successful Ubima-1 appraisal will convert Contingent Resources (1C MMstb; 2C MMstb; 3C MMstb gross *) to Reserves. Cost of appraisal is more than covered by Ubima-1 EPS production. Exploration potential exists to east of Ubima, at level of E reservoirs. * AGR TRACS CPR, April 2016 Slide: 5 Capital Markets Day

6 OML 40: Exploration history Nine exploration wells resulting in: - Two fields (Opuama and Gbetiokun); - Three potentially commercial discoveries (Abiala North, Abiala South and Polobo) and - Four apparently small discoveries (Ugbo, Adagbassa, Tongarafa and Tsekelewu, the latter carved out in 2003). All exploration wells are vertical or very close to vertical and all were drilled on 2D seismic Abiala North, Abiala South, Polobo, Ugbo and Adagbassa (contingent resources) and Tongarafa are single well discoveries Slide: 6 Capital Markets Day

7 Contingent and prospective resources Contingent and prospective resources in 7 discoveries and 31 prospects and leads (the latter mainly defined on 2D). Closures often developed over a large vertical interval - up to 5,000 or 6,000 feet. Additional potential exists at deeper levels (10,000 feet +) but not yet properly evaluated over much of the licence. Slide: 7 Capital Markets Day

8 Contingent and Prospective Resources OML 40 Contingent and Prospective Resources (Material Resource, Mean MMboe, Oct 2015) OML40 Reserves (P50) for Reference Contingent Prospective Prospects Leads Slide: 8 Capital Markets Day Opuama figure is EUR of 101 MMstb, not remaining reserves

9 Hub Strategy OML 40 Sum of Contingent and Prospect Resources by Cluster (Material Resource, Sum of Means, MMstboe) Priority Hubs Slide: 9 Capital Markets Day Contingent Resources plus Prospective Resources in existing discoveries, prospects and leads

10 Contingent and Prospective Resources by Cluster (sum of mean per cluster) 1 Amobe Mean Recoverable 184 MMb. Risked Mean Recoverable 62MMb 2 Polobo Cluster Mean Recoverable 143 MMb. Risked Mean Recoverable 48MMb 3 Abiala Cluster (82% on Block) Mean Recoverable 105 MMboe Risked Mean Recoverable 75 MMboe 4 Dudu Town Cluster Mean Recoverable 83 MMb. Risked Mean Recoverable 37 MMb Figures include Contingent Resources and Prospective Resources for undeveloped discoveries, prospects and leads. 5 2D Area subject to more data Mean Recoverable ~200MMb. Risked Mean Recoverable ~ 30 MMb 6 Ugbo Cluster Mean Recoverable 30 MMb. Risked Mean Recoverable 10MMb 7 Tongarafa Cluster Mean Recoverable 53 MMb. Risked Mean Recoverable 20MMb Slide: 10 Capital Markets Day

11 Gbetiokun Area - Prospects D7.4/D7.3 Composite Depth Structure GBETIOKUN WEST 7900 ftss GBETIOKUN 7850 ftss OLD NANA TOWN 8050 ftss DUDU TOWN EAST 8100 ftss GBETIOKUN SOUTH 8125 ftss Slide: 11 Capital Markets Day

12 Dudu Town East (Gbetiokun area exploration target) Seismic Tie to Dudu Town East to Gbetiokun A A Gbetiokun Reservoir D7.4 Depth Structure DUDU TOWN EAST A DUDU TOWN EAST GBETIOKUN A GBETIOKUN m Slide: 12 Capital Markets Day

13 Abiala South and North OML 40 SOUTH ABIALA 01 NORTH ABIALA South Panel ABIALA North Panel D2000 Abiala South CR E2000 Explo & Appr Potential Explo & Appr Potential E9000 F5000 Abiala North CR F5000 Slide: 13 Capital Markets Day

14 Abiala South and North (E9200 depth structure; feet TVDSS) Slide: 14 Capital Markets Day

15 Abiala South and North (G2000 depth structure, feet TVDSS) Slide: 15 Capital Markets Day

16 Seismic section through Polobo-1 A A TWT (ms) 44ft Oil Pay. ODT A Slide: 16 Capital Markets Day

17 Seismic section through Polobo-1 A A POLOBO -1 OPUAMA CANYON CUT TWT (ms) REGIONAL 01 REGIONAL 02 REGIONAL 03 RELATIVELY FAST VELOCITY 44ft Oil Pay. ODT RELATIVELY SLOW VELOCITY A REGIONAL 04 A REGIONAL 05 Slide: 17 Capital Markets Day

18 Polobo Discovery and Amobe Prospect (Shallow Depth Structure) Regional Marker 2 Depth Structure (2 Layer Method) OML 40 POLOBO Discovery 6325 ftss AMOBE 6400 ftss 44ft Oil Pay. ODT C2 Prospective Polobo-01 Opuama TSEKELEWU OML 49 POLOBO Opuama Canyon cut has a significant impact depth conversion. Opuekeba Limit of 3 Eastern and southern flanks are pulled up creating a ~10 sq. km structure with ~150 ft. three way dip closure. Slide: 18 Capital Markets Day Eroded by Opuama Canyon

19 Polobo Discovery and Amobe Prospect (Deep Depth Structure) Regional Marker 5 Depth Structure (2 Layer Method) OML 40 OML 40 Polobo-01 POLOBO 9500 ftss AMOBE 9000 ftss Tsekelewu 01 NR OPUAMA Near to E2000 Polobo-1 is not well located to test potential below ~7000ftSS. OML 49 Opuama Canyon cut has a significant impact depth structure. Opuekeba Eastern and southern Flanks are pulled up creating a closure with ~500ft and area ~5km 2 Slide: 19 Capital Markets Day

20 Gross 2p Reserves (MMstb) OML 40 Potential Reserves Growth 375 OML40: Expected growth in gross 2P reserves Shell IM; 1P+2P gross liquids = 185MMstb Contingent Resources + Prospective Resources risked 48 Prospective Resources risked Abiala Discoveries (CR=16 MMstb*) Polobo Discovery (CR=16 MMstb*) 60 Dudu Town East Amobe Gbetiukun * Gbetiukun FFD Phase I Gbetiukun FFD Phase II Gbetiokun EUR=80MMstb Opuama Remaining * Opuama EUR=101MMstb Opuama Historic Production -75 Slide: 20 Capital Markets Day * NSAI CPR of Other Figures are Company Estimates Effects of future production not included

21 Potential Production Slide: 21 Capital Markets Day