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July 2009 Corporate Presentation – Interoil Corporation

Interoil Corporation · Jul 7, 2009 · 45 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. July 2009 Corporate Presentation – Interoil Corporation – slide 1
    Antelope-1 Technical Summary, Antelope- Current Activities and Forward Plan July 2009 1
  2. July 2009 Corporate Presentation – Interoil Corporation – slide 2
    Agenda Antelope-1 Well Technical Summary Well Review Drill Stem Test Update Elk/Antelope Field Resource Estimate Current Activities Antelope-2 Rig Move and Spud Antelope-1 Long Term Well Test Elk/Antelope Seismic Program Phase 1…
  3. July 2009 Corporate Presentation – Interoil Corporation – slide 3
    Antelope-1 Well Technical Summary WELL REVIEW 4
  4. July 2009 Corporate Presentation – Interoil Corporation – slide 4
    Elk/Antelope Well Location Map PPL238 PPL237 5
  5. July 2009 Corporate Presentation – Interoil Corporation – slide 5
    Antelope-1 Key Dates 6
  6. July 2009 Corporate Presentation – Interoil Corporation – slide 6
    Antelope-1 Objectives and Results Antelope-1 was spudded with the With the following results:- following objectives:- Drill a structural attic 2,269ft above the Achieved - Top of reservoir within 2 Elk-4 Lowest Gas metres of prognosis…
  7. July 2009 Corporate Presentation – Interoil Corporation – slide 7
    Antelope-1 Results Surpass Expectations Hydrocarbons from 5,732 ftMD (1,747m) to 8,156 ftMD (2,486 m) indicate a total column of 2,425 ft (739 m) Highly Productive Reservoir Record flows of 382 MMcfd and 5,000 BCPD and Calculated…
  8. July 2009 Corporate Presentation – Interoil Corporation – slide 8
    Antelope-1 Well Technical Summary ANTELOPE-1 DRILL STEM TEST UPDATE 9
  9. July 2009 Corporate Presentation – Interoil Corporation – slide 9
    Lower DST Intervals and Antelope-1 Log DST intervals over tighter reservoir sections DST 12 (2,347-2,402 mMD) DST 13 (2,375-2,402 mMD) Lowest hydrocarbons DST 14 (2,420-2,452 mMD) recovered 2,452 mMD DST 15 (2,462-2,486…
  10. July 2009 Corporate Presentation – Interoil Corporation – slide 10
    Test Update - DST 12-15 Conclusions Testing indicates gas and condensate down to 7,769 ftMD (2,368 m) / 7,133 ftTVDss (2,174 m) Condensate yields at these lower intervals range from 15-22 Bbl per MMcf in field testing Condensate…
  11. July 2009 Corporate Presentation – Interoil Corporation – slide 11
    Antelope-1 DST Samples The variations observed are indicative of the oil recovered from below 7,769 ftMD (2,368 m) with 33-35 API along with a possible mixture of oil and condensate (44-49 API) and 100% condensate (52 API) DST 11 DST…
  12. July 2009 Corporate Presentation – Interoil Corporation – slide 12
    Antelope-1 Well Technical Summary ELK/ANTELOPE FIELD RESOURCE ESTIMATE 13
  13. July 2009 Corporate Presentation – Interoil Corporation – slide 13
    GLJ Petroleum Consultants Resource Estimate Elk/Antelope as of December 31, 2008 Gross Resource Estimate for Gas and Condensate As At December, 31, 2008 Case* An evaluation of the potential Low Best High resources of gas and…
  14. July 2009 Corporate Presentation – Interoil Corporation – slide 14
    Impact of the GLJ Petroleum Consultants Results Based on InterOils LNG development plan the Best Case certified recoverable resource* of 3.43 Tcf and the High Case certified recoverable resource of 4.73 Tcf by GLJ exceeds the minimum…
  15. July 2009 Corporate Presentation – Interoil Corporation – slide 15
    Current Activities ANTELOPE-2 RIG MOVE AND SPUD 16
  16. July 2009 Corporate Presentation – Interoil Corporation – slide 16
    Antelope-2 Well Site Preparations Antelope-2 is located 2.3 miles south of Antelope-1 Antelope-1 location A road/track has been established to transport heavy loads via a Morooka tracked vehicle Significant time and cost…
  17. July 2009 Corporate Presentation – Interoil Corporation – slide 17
    Rig Move in Progress Antelope-2 location is complete Rig move is utilising both helicopter and land transport Antelope-2 spud expected in July 18
  18. July 2009 Corporate Presentation – Interoil Corporation – slide 18
    Rig Move in Progress Most of the rig is at Antelope-2 site Ground Transport Morooka in Service 19
  19. July 2009 Corporate Presentation – Interoil Corporation – slide 19
    Antelope-1 Long Term Well Test ANTELOPE 1-ST2 WELLBORE SCHEMATIC WITH 2-7/8 COMPLETION TUBING The Antelope-1 well has been prepared for a long-term test of 6 months duration in 18 5/8 casing at 239m 2-7/8 TRSV 85m order to gather…
  20. July 2009 Corporate Presentation – Interoil Corporation – slide 20
    Current Activities ELK/ANTELOPE SEISMIC PROGRAM 21
  21. July 2009 Corporate Presentation – Interoil Corporation – slide 21
    Current Activities Elk/Antelope Appraisal Seismic - Phase 1 Antelope Seismic Acquisition Program A 100 km program of 2D seismic acquisition has been approved and is expected to commence early third quarter 2009 The Aims of the…
  22. July 2009 Corporate Presentation – Interoil Corporation – slide 22
    Current Activities Phase 1 of New Seismic Program Proposed 100 km Phase 1 seismic data acquisition program Further define the Antelope reef Image major faults Increase seismic data density Perform higher end…
  23. July 2009 Corporate Presentation – Interoil Corporation – slide 23
    Update on Farmout/Sale to Strategic Partner(s) In March, 2009 InterOil Corporation announced it had retained BNP Paribas Capital (Singapore) Ltd. (BNP) and ABN AMRO Corporate Finance Australia Ltd. (ABN AMRO) as joint financial…
  24. July 2009 Corporate Presentation – Interoil Corporation – slide 24
    Proposed Elk/Antelope Participating Interests Participating Interests Farm-In Interests Pre-Transaction* Petromin/PNG State 22.5% Strategic Partner 2.5% IPWI Partners 21.83% Strategic Partner 2.5% InterOil* 55.67% Strategic Partner 2.5%…
  25. July 2009 Corporate Presentation – Interoil Corporation – slide 25
    Forward Plans ELK/ANTELOPE APPRAISAL STRATEGY 26
  26. July 2009 Corporate Presentation – Interoil Corporation – slide 26
    Antelope-2 Well Objectives The Antelope-2 location is located south of Antelope-1 in InterOils PPL237 Exploration Licence. The objectives of the well are:- Penetrate the southern margin of the Antelope Reef and determine the extent…
  27. July 2009 Corporate Presentation – Interoil Corporation – slide 27
    Elk/Antelope Cross Section Schematic Elk-1 Elk-4 Antelope-1 Antelope-2 Elk-2 Reef Antelope Platform Antelope Fault Pictorial Only: Graphic Not to Scale 28
  28. July 2009 Corporate Presentation – Interoil Corporation – slide 28
    Elk/Antelope Appraisal Strategy Focus on Efficiency Engagement of Knowledge Reservoir to lead the effort of sub-surface reservoir and engineering studies to progress a detailed development and depletion plan Acquire a second…
  29. July 2009 Corporate Presentation – Interoil Corporation – slide 29
    Forward Plans CONDENSATE STRIPPING PROJECT FEASIBILITY STUDY 30
  30. July 2009 Corporate Presentation – Interoil Corporation – slide 30
    Condensate Feasibility Study Report Summary July 2009 31
  31. July 2009 Corporate Presentation – Interoil Corporation – slide 31
    Early Condensate Recovery This study was performed to evaluate the benefits of producing gas and stripping condensate prior to the start up of LNG processing Condensate stripping is envisioned to be online 3-4 years prior to LNG…
  32. July 2009 Corporate Presentation – Interoil Corporation – slide 32
    EDG Report Summary EDG Consulting Engineers were commissioned to evaluate the opportunity to facilitate early monetization of condensate from the Elk/Antelope field Perform feasibility study with defined product slate, a cost…
  33. July 2009 Corporate Presentation – Interoil Corporation – slide 33
    Elk/Antelope Field & Plant Locations Hides Field Condensate Stripping Facility 34
  34. July 2009 Corporate Presentation – Interoil Corporation – slide 34
    Early Design Conclusions 400MMcfd is the best initial rate for early condensate monetization (yielding approximately 9,000 bbls per day) We believe that the stripping facility and compression station is best located at the Purari…
  35. July 2009 Corporate Presentation – Interoil Corporation – slide 35
    Field Development Plan Plant at River Schematic Not to Scale 36
  36. July 2009 Corporate Presentation – Interoil Corporation – slide 36
    Economics of Early Condensate Initial Final Production Production Condensate Project Drilling Rate Rate Price CAPEX CAPEX OPEX IRR NPV 10% Payout MMcfd MMcfd /Bbl Million Million Million/yr % Million years 400 400 90 320 120 29.6…
  37. July 2009 Corporate Presentation – Interoil Corporation – slide 37
    Economic Sensitivity to Oil Price and Yield 1800 1600 NPV 10% in USmil 1400 US125/bbl 1200 US100/bbl 1000 US90/bbl 800 US75/bbl 600 US50/bbl 400 200 0 22.4 12 15 18 21 24 27 30 Yield in bbl / MMscf NPV is for the…
  38. July 2009 Corporate Presentation – Interoil Corporation – slide 38
    Early Condensate Project Summary 400 MMcfd is the initial production volume for optimum CAPEX and recovery (approx. 9,000 bpd condensate) The project has a payout of 2 years from start of production and a net present value (10%)…
  39. July 2009 Corporate Presentation – Interoil Corporation – slide 39
    Forward Plans EXPLORATION PROGRAM AND COMMITMENTS 40
  40. July 2009 Corporate Presentation – Interoil Corporation – slide 40
    Exploration Program and Commitments Following the discovery of the Elk/Antelope field InterOil has proved its PPL licenses in the Eastern Papuan Basin to be highly prospective for hydrocarbons InterOils future focus for its…
  41. July 2009 Corporate Presentation – Interoil Corporation – slide 41
    Exploration and Program Commitments Exploration Program and Commitments:- Exploration Licences PPL236, PPL237 and PPL238 successfully extended for additional 5 year terms (2009 2014) Recommitted to Exploration with the following…
  42. July 2009 Corporate Presentation – Interoil Corporation – slide 42
    Forward Plans BWATA GAS FIELD DELINEATION AND REGIONAL EXPLORATION SEISMIC PROGRAM 43
  43. July 2009 Corporate Presentation – Interoil Corporation – slide 43
    Proposed Bwata Gas Field Delineation and Regional Exploration Seismic Program Exploration Seismic - Phase 2 Delineate the Bwata Gas Field Delineate near field opportunities Mule Deer White Tail Big Horn Wolverine Raptor Duck…
  44. July 2009 Corporate Presentation – Interoil Corporation – slide 44
    Summary Antelope-1 has been drilled, tested and completed as one of the largest known onshore vertical wells in terms of both column height and flow capacity GLJ Petroleum Consultants has completed an independent assessment for the…
  45. July 2009 Corporate Presentation – Interoil Corporation – slide 45
    Commonly Used Terms API means API gravity or American Petroleum Institute gravity, and is a measure of the relative density of a petroleum liquid and the density of water, it is used to compare the relative densities of petroleum…

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