AGM PRESENTATION 22 nd MAY Exploration Opportunities in Tanzania: Why Aminex believes in the potential of the Nyuni and Ruvuma PSAs

Transcription

1 AGM PRESENTATION 22 nd MAY 2013 Explratin Opprtunities in Tanzania: Why Aminex believes in the ptential f the Nyuni and Ruvuma PSAs

2 Intrductin Aminex has been in Tanzania since 2002 when the East African Castal Margin was nly a lightly explred backwater. Aminex has drilled 6 wells including 2 cmmercial discveries, ne f which is develped and ready t prduce. The Cmpany s acreage includes (1) nshre, (2) shallw water ffshre and (3) deep water ffshre envirnments. Since 2010 there have been multiple wrld-class deep water gas discveries in the regin, sme directly ffsetting bth f Aminex s PSA areas. Aminex has cnsistently believed in the vast ptential f the East Africa Castal Margin which is summarised in this shrt technical presentatin. Recent published hydrcarbn discveries, Tanzania and nrthern Mzambique Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

3 Intrductin Onshre, Nearshre Successes Mafia Basin/Rufiji Delta, Tanzania: Sng Sng (1974) Mukuranga (2006) Kiliwani Nrth (2008) Ruvuma Basin, Tanzania and nrthern Mzambique: Mnazi Bay (1982) Ntrya-1 (2011) Sample analyses made available t Aminex prvide infrmatin n the ptential fr il as well as fr gas. Mafia/Rufiji Basin Ruvuma Basin Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

4 Reginal Gelgical Setting and Prspectivity The deepwater explratin success alng the East African Castal Margin demnstrates the explratin ptential that may exist nshre and n the nearshre shelf. High quality (3D) seismic in the pen marine deepwater envirnment is the main cause fr recent success. Recent imprvements in 2D seismic acquisitin and prcessing n the marine shelf and nshre cnfirms the presence f similar traps and their significant but as yet unexplred and unexplited ptential. Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

5 Reginal Gelgical Setting and Prspectivity Ntrya, alng with mst leads within the Ruvuma PSA, and pst-necmian leads within Nyuni PSA are part f the same play fairway as the recent deepwater discveries. Histrically structural prspects have been drilled alng the castal margin with nly limited success. With the aid f imprved seismic, Aminex is fcusing n the significant stratigraphic ptential that can nw be imaged and which has prven s successful in the deepwater. Kiliwani Nrth gas field, 45 BcfPmean GIIP discvered Ntrya nshre gas discvery, 1.2 Tcf discvered and undiscvered Mnazi Bay Gas Field, ~830 Bcf Pmean recverable cntingent Anadark, BG & Statil s deepwater gas discveries, Tcf. ENI s deepwater gas discveries, Tcf. Late Tertiary uplift in respnse t East African Rift Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

6 Reginal Gelgical Setting and Prspectivity Ntrya, alng with mst leads within the Ruvuma PSA, and pst-necmian leads within Nyuni PSA are part f the same play fairway as the recent deepwater discveries. Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

7 Explratin Prgress Virtually all recent majr gas discveries have been in the (deepwater) ffshre, where mst f the recent 2D and 3D seismic has been acquired. This is because f the ease f access in pen marine deepwater envirnments fr acquiring high quality seismic with minimal lgistic difficulties, and sufficient quality t de-risk prspects prir t drilling. Nearshre and nshre is subject t mre cmplex and cstly lgistics fr alternative methds f apprpriate seismic acquisitin. Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

8 Explratin Prgress Mst f the Nyuni legacy data (all 2D) has a limited maximum ffset f <1,500m. The 2005 dataset has a 3,000m maximum ffset. Careful reprcessing allws a majr imprvement in imaging, t better de-risk prspects prir t drilling. Deepwater/pen marine 2D and 3D seismic cmmnly has a maximum ffset f 8,000m. Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

9 Explratin Prgress and Prspectivity Advanced prcessing and imaging technlgies applied t state-f-the-art 2D and 3D seismic in an unrestricted deepwater marine envirnment enables much greater cnfidence in de-risking prspects pre-drill. SSE NNW Hwever, similar acquisitin and prcessing methds cannt be emplyed in the nshre and nearshre envirnments. Recent wrk by Aminex n 2D seismic nshre and n the marine shelf is beginning t image detail with cnfidence but mst such prspects remain untested by drilling. Seismic prfile acrss Blck 1, ffshre Tanzania, shwing intraslpe channel plays (frm Ophir Energy AGM, June 2012). Mst recent discveries n- and ffshre are primarily stratigraphic and nt structural. Early wells were drilled with limited seismic n simple structural features. Such prspects include Sng Sng, Mnazi Bay, Latham Island, Nyuni, etc. Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

10 Explratin Prgress and Prspectivity Sng Sng-1 in 1974 prmted structural plays and the ptential fr prductive Necmian-age reservir sands. Albian sands as at Ntrya f gd reservir quality are stratigraphically cntrlled - their presence in structural traps is highly variable. Previusly, stratigraphic cmplexity has been hard t image and interpret with cnfidence n seismic in the absence f well data. Seismic crss-sectin acrss Sng Sng gas field, ffshre Tanzania; (structural trap). Seismic crss-sectin acrss Ntrya gas discvery, Ruvuma basin, nshre Tanzania; (stratigraphic trap). Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

11 Explratin Prgress and Prspectivity 2D Seismic Dip Line 89MT-10, nshre Nrthern Ruvuma Basin. Previus nshre explratin was fcused n identifying large structural clsures and seismic cverage was carse. Limited cntractr availability and high csts did nt encurage higher data densities. Little stratigraphic ptential culd be recgnised r de-risked sufficiently t justify drilling. Upper Cretaceus Lead D as mapped by Texac, 1992, cf Sudi Lead (Areal clsure f Lead D at Tp Cretaceus was estimated at apprx km 2, with 800ft f vertical clsure (Texac 1992). Remapped as Sudi Lead by Aminex in 2012.) Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

12 Explratin Prgress and Prspectivity The Kiswa and Sudi Base Tertiary channel cmplex leads in the Ruvuma PSA are nw clearly imaged n reprcessed data. They appear analgus t BG/Ophir s Jdari Base Tertiary gas discvery (GIIP estimated at ~4.5 Tcf), 25 km t the West in the deepwater. Kiswa Lead appears t have a similar multichannel cmplex appearance as Jdari. Surce : Ophir website, Capital Markets presentatin, 2012 Kiswa Leads, Offshre Ruvuma PSA Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

13 Explratin Prgress and Prspectivity The Sudi Lead (nshre Ruvuma) is part f the same Base Tertiary channel cmplex as the ffshre Kiswa Lead. (Onshre) (Offshre) Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

14 Explratin Prspectivity Since the success f Aminex s Ntrya-1 gas discvery, mapping f the Ruvuma PSA has identified further stratigraphic leads nt previusly recgnised with cnfidence frm available 2D seismic. Aminex is planning new 2D seismic in the Ruvuma PSA t better define and de-risk the stratigraphic ptential, as well as t appraise the Ntrya-1 discvery. Ruvuma PSA: Lead map f mainly stratigraphic leads, identified frm seismic pst-ntrya-1 well. Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

15 Explratin Prspectivity Tanzania has signed a $1.2 billin finance package with the Chinese Exprt Bank fr gas infrastructure which will include: 450 km 36 pipeline frm Ruvuma Basin t Dar es Salaam. 25 km 24 pipeline frm Sng Sng Island t main pipeline. New gas prcessing plants n Sng Sng Island, and near Mtwara apprx. 30 km frm Ntrya-1. This pipeline will prvide access t market fr bth Aminex s Kiliwani Nrth gas Field and Aminex s Ntrya-1 gas discvery Pipeline prject due nstream end Tanzanian Castal Pipeline Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

16 Summary The deepwater acreage in the Nyuni PSA is f ptentially significant explratin interest and 3D seismic is planned fr this year. New appraisal seismic at Ntrya (Ruvuma) will prvide well cntrl and identify lcatins fr appraisal drilling n the path t cmmercialisatin. Ruvuma is a vast licence which cntains a number f large leads in additin t the Ntrya discvery. Further seismic at Ruvuma will de-risk these leads t cnvert them t drillable prspects. With a majr new pipeline prject under way and strng demand fr natural gas, Ntrya and discveries at Ruvuma will be imprtant cmpnents f Tanzania s shrt t medium term energy needs. Aminex s intentin is t unlck the prspectivity f the Nyuni and Ruvuma PSAs. Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

17 Ntrya-1, Ruvuma PSA, flwing 139 bpd cndensate and 20MMcfd n test thrugh a 1 chke, June Presentatin t sharehlders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013