FINDER EXPLORATION. Drilling the Portfolio. Opportunity. Technology

Transcription

1 FINDER EXPLORATION Opportunity Technology Knowledge People Drilling the Portfolio Good Oil Conference - 6 September 2011

2 Vision FIND OIL AND GAS by bringing to the farmin market 3D supported North West Shelf drill ready opportunities Finder Business 1. Who is Finder? 2. Carnarvon Basin and Bedout Sub-basin Assets 3. Northern Browse Basin Assets 4. Summary

3 North West Shelf - 13 Permits AC/P 44 60%* AC/P 45 60%* WA-446-P 100%* Bayu/Undan NT/P %* AC/P 52 55%* Argus Poseidon AC/P 36 ~41% Petrel Torosa Ichthys Brecknock/ Calliance Scarborough WA-445-P 100%* Jansz/Io WA-418-P 35% Rankin Trend WA-435-P WA-437-P Phoenix WA-436-P WA-438-P WA-450-P 25% Clio Gorgon with material participating interests

4 Business build Finder is a private oil and gas company with a North West Shelf exploration focus Activities: Incorporated Acreage: Transactions: AC/P 36 AC/P 44 AC/P 52 AC/P 45 NT/P 79 WA-401-P WA-418-P WA-435-P WA-436-P WA-437-P WA-438-P Abalone Deep-1 ~5,500 km 2 of new 3D seismic Olympus-1 (WA450P) WA-445-P WA-446-P WA-450-P & others: Phoenix Cronus etc

5 Expertise Finder is a private oil and gas company with a North West Shelf exploration focus Senior staff have diverse & complementary range of backgrounds, skills & experiences Over 100 years of expertise in global oil and gas exploration Current staffing level of 11 (+ consultants) Key Personnel Jan Ostby Managing Director Dariusz Jablonski Exploration Manager Shane Westlake Technical Project Manager 29 years ex Fugro / Seismic Australia Craig Gumley Operations & JV Manager Don Pyke Commercial Manager 20 + years ex Woodside 10 years ex PGS 26 years ex Santos 16 years ex Fugro / Seismic Australia

6 Growth driven by new 3D seismic data! AC/P 44 60%* AC/P 45 60%* WA-446-P 100%* Bayu/Undan NT/P %* AC/P 52 55%* Brecknock/ Calliance Argus Poseidon Torosa Ichthys AC/P 36 ~41% Petrel Scarborough WA-450-P 25% WA-445-P 100%* Jansz/Io Clio Gorgon WA-418-P 35% Rankin Trend WA-435-P WA-437-P Phoenix WA-436-P WA-438-P ~5,500 km 2 of new 3D seismic data over 7 surveys and 8 Permits: Cartier = ~864 km 2 Cartier West** = ~517 km 2 Tiffany** = ~731 km 2 Phoenix = ~1,100 km 2 WA-418-P = ~1,519 km 2 WA-450-P** = WA-445-P** = ** denotes psdm processing ~231 km 2 plus two 3D s!! ~500 km 2 (reprocessing)

7 Vision FIND OIL AND GAS by bringing to the farmin market 3D supported North West Shelf drill ready opportunities Finder Business 1. Who is Finder? 2. Carnarvon Basin and Bedout Sub-basin Assets 3. Northern Browse Basin Assets 4. Summary

8 Carnarvon Basin and Bedout Sub-basin Assets WA-418-P 35% WA-435-P WA-436-P Phoenix WA-445-P 100%* Phoenix Sth Rankin Trend Mutineer/ Exeter WA-437-P WA-438-P Scarborough Jansz/Io Clio Gorgon WA-450-P 25% Zola Moving to drill ready

9 WA-450-P Finder 25% Oxfordian depth map looking north-east Jansz/Io Rankin Trend Mutineer/ Exeter Clio Gorgon Olympus Clio Zola Gorgon Olympus Prospect WA-450-P 25% 3D = ~231 km 2 psdm + Cambozola Flatspot line B Data courtesy of Searcher Seismic Zeepard-1 80 km 2 WA-450-P Zola Discovery Farmed out 75% to Apache in Aug. 10 Play rich block south of Clio and Gorgon Olympus is standout Triassic prospect with 12 TCF highside OGIP Two new 3D surveys across the Permit: psdm + development 3D to tie Zola Carried drill commitment as early as 2012?

10 Phoenix Finder 50% WA-436-P Phoenix-2 Phoenix-1 WA-435-P Phoenix & Phoenix Sth Phoenix South 27 km 2 12 km 2 Roc 53 km 2 WA-437-P WA-438-P 3D = ~1,100 km 2 64 km 2 Bottler new lead Bewdy new lead Phoenix-2 NW Phoenix % Ф Port Headland Phoenix South Roc Improving reservoir characteristics SE Preliminary processing of D/3D seismic data courtesy of Fugro Keraudren-1 20% Ф Preliminary 3D visualisation of the Phoenix 3D seismic survey Base Cossigny Limestone Formation two-way-time surface 4 Permits granted August D + QI to identify reservoir sweet spots final pstm 3D just received in-house Proven Triassic Phoenix gas resource with 1 TCF highside OGIP Phoenix South (~3.5 TCF) + Roc (~2 TCF) Drill in 2012?

11 Phoenix Finder 50% Phoenix-2 Phoenix-1 Keraudren-1 4,000m 4,200m 4,400m 4,100m 4,300m 4,500m ,200m 3,400m 3,600m Correlation Flattened on Base Cossigny-239T Phoenix-1, drilled by BP in 1980 intersected a significant low porosity gas column in Mid to Late Triassic sandstones gross 767 metre interval 4,113 to 4,880 metres (gas influx at TD) BP petrophysical evaluation considered a total net pay thickness of metres Phoenix-2 lower quality reservoir to north Keraudren-1 excellent porosity to south-east Phoenix-2 Phoenix-1 Phoenix South Roc Keraudren-1 20% Ф Phoenix South 64 km 2 27 km 2 12 km 2 Phoenix-1 Phoenix-2 Preliminary Base Cossigny Limestone Formation TWT surface Bottler new 53 km 2 from the Phoenix 3D seismic survey 8-12% Ф Bewdy new Roc NW Improving reservoir characteristics SE Preliminary processing of D/3D seismic data courtesy of Fugro Keraudren-1

12 3D = ~500 km 2 psdm WA-445-P Finder 100% 2,200m Malmsey-1 Malus-1 WA-445-P 100%* Jansz/Io Rankin Trend Mutineer/ Exeter 3,000m Muderong Shale - regional seal Clio Gorgon 4,000m E sands subcrop within Permit Zola A WA-445-P B Wheatstone-2 Wheatstone-4 Malmsey-1 Malus-1 Lady Nora-2 Awarded in May D arbitrary line Final psdm in depth 2,950 Depth 4,100 (mss) A 3D visualisation of the merged and reprocessed 3D seismic surveys Oxfordian (Jurassic) unconformity psdm depth surface B E sands Othello - Mungaroo E Sand subcrop play 1.5 TCF highside OGIP New 3D psdm reprocessed data ties to Wheatstone gas to the west, Lady Nora to the east Drill in 2012/2013?

13 WA-418-P Finder 35% WA-418-P 35% 3D = ~1,519 km 2 Jansz/Io Rankin Trend Mutineer/ Exeter Hyde 176 km 2 Childers 125 km 2 Fletcher Mutineer Lambert Clio Gorgon North Rankin Eaglehawk Zola Goodwyn Perseus Oxfordian unconformity depth visualisation W C R Hyde C R C Childers S S 0 5km E Farmed out 65% to Apache in Aug P&Ls over four primary play levels key prospects covered with new 3D data Hyde: Legendre Fm. prospect with highside 780 mmbbls STOOIP & Nth Rankin Fm. 16 TCF highside OGIP Drill in 2012/2013?

14 Vision FIND OIL AND GAS by bringing to the farmin market 3D supported North West Shelf drill ready opportunities Finder Business 1. Who is Finder? 2. Carnarvon Basin and Bedout Sub-basin Assets 3. Northern Browse Basin Assets 4. Summary

15 Northern Browse Basin Assets AC/P 44 60%* AC/P 45 60%* AC/P 52 55%* Puffin Skua Crux Argus AC/P 36 ~41% Poseidon Concerto/ Prelude Cornea Torosa Ichthys Brecknock/ Calliance Burnside Moving to drill ready

16 AC/P 52 - Finder 55% 3D = ~517 km 2 psdm Puffin Skua AC/P 52 55%* Crux 114 km 2 Cronus Argus Torosa Poseidon Ichthys Concerto/ Prelude Cornea Burnside Preliminary 3D visualisation of the Cartier West 3D seismic survey Oxfordian (Jurassic) unconformity pstm depth converted surface KC JO Argus Field AC/P52 Cronus Farmed out 45% to SASOL in Dec. 09 before 3D the critical uncertainty was size - highside confirmed by psdm! Cronus Jurassic/Triassic gas prospect with 7 TCF highside OGIP Drill in 2012/2013? Other prospectivity on block

17 AC/P 45 - Finder 60% 3D = ~864 km 2 AC/P 45 60%* Puffin Delta-1 Cartier 3D extraction - Full stack Alpha prospect Skua Torosa Poseidon Argus Ichthys Concerto/ Prelude Cornea Puffin targets 56T T 67T 68T KC Burnside JO SW Triassic target NE Delta-1 Oxfordian unconformity 3D depth structure map 29 km 2 Farmed out 40% to Perenco in Nov km 2 Alpha Epsilon North Alpha 67T mmbbls highside OOIP + 68T & coincident 28 km 2 Triassic target + 6 other Puffin P&Ls 3 Permian gas leads with Zeta 9.5 TCF highside OGIP (~124 km 2 ) Drill in 2012/2013?

18 AC/P 44 - Finder 60% AC/P 44 60%* 3D = ~731 km 2 psdm hard Shallow Amplitude Puffin Skua 1 sec flatspot Velocity Push Down Omega Prospect soft Gamma Prospect KC 2 sec JH Argus Torosa Poseidon Ichthys Concerto/ Prelude Cornea 3 sec sag TR Burnside W Miocene gas field? 0 5km E Callovian TWT 3D vislalisation pstm 3D seismic arbitrary line Farmed out 40% to Perenco in Nov km 2 Omega 10 km 2 Eta Gamma 37 km 2 Omega prospect 2D assessment: 570 mmbbls STOOIP or 5 TCF highside OGIP with 2 other P&Ls 3D currently being processed to psdm Drill in 2012/2013? Plus 5 Puffin oil leads in south

19 AC/P 36 - Finder ~41% AC/P 36 WA-343-P Puffin Skua Bassett Deep ~300 km 2 Dip Line Adele Argus AC/P 36 ~41% WA-408-P Total/Inpex 10 Concerto Torosa Poseidon Burnside Ichthys Concerto/ Prelude Cornea Total drilling Ichthys Prelude JO-Top Plover TWT visualisation JO JH draping sands? Plover/ Upr Triassic merged 2D/3D psdm dip line Basset Deep Adele-1 projected 0 5km Currently in Permit Year 6 Bassett Deep straddles the southern Permit boundary Largest undrilled structure in the Browse - 20 TCF highside OGIP Crest and 50% within AC/P 36 Inpex/Total acquired new 3D in the gap to the south to merge with existing 3D

20 Vision FIND OIL AND GAS by bringing to the farmin market 3D supported North West Shelf drill ready opportunities Finder Business 1. Who is Finder? 2. Carnarvon Basin and Bedout Sub-basin Assets 3. Northern Browse Basin Assets 4. Summary

21 Finder - realising the vision FIND OIL AND GAS Complete the interpretation of the ~5,500 km 2 of 3D seismic data over 7 surveys and 8 Permits; Mature prospects in each Permit to drill ready; Farmout and participate in the drilling of wells in 2012/2013.

22 Finder Contact Details For further information on this presentation please contact: Craig M. Gumley Operations & Joint Venture Manager Don Pyke Commercial Manager Phone: Fax: Website: Phone: Fax: Visit: 9 Richardson Street West Perth WA 6005 The information, statements, opinions, data or other material ( Information ) contained within this document has been prepared by Finder Exploration Pty Ltd ( Finder ) with reasonable care and no representation, warranty, or undertaking, express or implied, is made by Finder in relation to the adequacy, accuracy, completeness, correctness, fairness or usefulness of the Information disclosed herein. Use of the Information shall be at a third parties own risk and third parties should undertake their own independent assessment of the Information and verify all information upon which it intends to rely, to its own satisfaction. Finder accepts no responsibility or liability for any errors or omissions from the Information, however caused.