ORYX PETROLEUM: EXPLORATION SUCCESS IN THE HAWLER LICENSE AREA Macquarie Securities Oil & Gas Conference, London, January 13th 2014
AN AFRICA AND MIDDLE EAST FOCUSED INDEPENDENT E&P COMPANY Six License Areas Founded in 2010 by the Addax & Oryx Group (AOG) Previously established, developed and sold Addax Petroleum Significant Demir Dagh discovery made in early…
HAWLER LICENSE (KURDISTAN REGION OF IRAQ) Acquired in August 2011 February 2013 discovery at Demir Dagh 252 MMbbls 2P reserves(1) 307 MMbbls 2C resources(2) Discovery: Oct 2013 49 MMbbls unrisked prospective resources(3) Discovery:…
DEMIR DAGH DISCOVERY Significant addition to oil discovered on Hawler license area Large faulted anticline Clear surface expression on northeast limb DD-1 well drilled in 1960 2,668 m to Upper Jurassic Oil shows and tested gas…
DD-2: TEST RESULTS Demir Dagh: Significant oil discovery with further upside potential MD metres Highly Successful test in Cretaceous 994m Pila Spi 1137m Large oil column 1137m 1190m Gercus 1190m TERTIARY Sinjar Matrix…
DEMIR DAGH: APPRAISAL AND EARLY DEVELOPMENT Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 DD-2 Re-entry DD-3 Appraisal Well DD-4 Appraisal Well DD-5 Appraisal Well DD Development Wells (5) 3D Seismic Early production…
DEMIR DAGH APPRAISAL: WELL LOCATIONS Shiranish Depth Map (50m contours) Demir Dagh-3 Deep well to test all reservoirs On crest of anticline to the south-east DD-2 Upper Qamchuqa of Demir Dagh-1 ODT at - Targets crest at Lower…
DEMIR DAGH: 3D SEISMIC ACQUISITION Objectives of improving the understanding of the fault geometries and lateral variations in thrust relationships for optimal placement of development wells Improve the imaging of the Lower…
ZEY GAWRA DISCOVERY Significant addition to oil discovered on Hawler license area Anticline on Kirkuk field trend Last closure to northwest of Khurmala Dome 18 km southwest of Demir Dagh ZAB-1 well drilled in 1990-91 and had…
ZEG-1: DST TARGET SELECTION STRATIGRAPHY DEPTH LITHOLOGY CASING Four test targets defined on the basis of: Age Formation (m) TVDSS MD Description DRAFT Design 261 9 Conventional logs and imageries Lwr Bakhtiari Clastics 24…
ZEG-1: TEST RESULTS ZEG-1: MD metres 953m Pila Spi DST1 and 2: not conclusive, could not 1172m 1172m Gercus TERTIARY connect to fracture network 1288m 1288m Kolosh ZEG-1 Test Results DST3: natural flow of very heavy…
AIN AL SAFRA DISCOVERY Significant discovery requiring additional appraisal to establish size Broad fault-bounded anticline 23 km northwest of Demir Dagh Primary targets: Lower Jurassic and Triassic Secondary target:…
AAS-1: DST TARGET SELECTION Three test targets in Lower Jurassic S N defined on the basis of: Log analysis (fractures on imagery) Pila Spi Gercus Drilling data: losses, oil on shakers, oil Kolosh Shiranis shows on cuttings h…
AAS-1: DST3 MUS AND BASE ALAN Shoot TCP Acid Job: 300 bbl of 20% HCl + acid diverter acid soak time WHP = 2500 psi Choke 16/64 Bottom hole Clean-Up for bottom sampling choke 100% oil sampling, slug 16/64 of mud…
AAS-1: CONCLUSIONS DST3 MUS AND BASE ALAN: Choke duration WHP Oil rate GOR Mud BS&W (mud) H2S CO2 BHP PI (psia) (bbl/d) (scf/bbl) (bbl/d) (%) (%) (%) (psia) (bbl/d/psi) Horner intercept 0 5713 20/64 fix 8 hr 450 850 160 0 0 18% 9%…
BANAN PROSPECT High impact exploration well with results to be known imminently Hanging wall anticline located along strike and on trend with the anticline of Demir Dagh 8 km west of Demir Dagh NSAI estimates (31/03/2013) 196…
BANAN: SEISMIC BAN-1 will provide a critical data point to help understand the pattern of hydrocarbon fill between it and Demir Dagh Key risk is lack of closure Private and Confidential 19
BANAN: LINE H2013-08, FIELD MIGRATION NW Distance (m) BAN-1 SE Seismic line drops across the thrust into the footwall block - only apparent closure in this area Private and Confidential 20
BAN-1: RESULTS TO DATE Spudded mid September 2014 and expected to reach TD of 4,153m in Q1 2014 Cretaceous section Logging and core analysis indicate hydrocarbons Matrix porosity similar to Demir Dagh Oil on shakers MDT indicates…
BAN-1: RESULTS TO DATE - CRETACEOUS Pila Spi: Dolomitic limestone with HC charge in upper 25m. Oil on shakers Thicker formation than at Demir Dagh Shiranish: 1359m oil on shakers Oil on shakers at top, and oil-stained samples…
HAWLER LICENSE KEY EXPLORATION TAKEAWAYS Observations from drilling results to date: Paleogene Shallow Pila Spi potential in all four structures still to be explored Cretaceous Better than expected matrix porosity in all wells…
A COMPELLING INVESTMENT OPPORTUNITY RICH IN VALUE CATALYSTS Significant near-term catalysts Appraisal and development of Demir Dagh First production and potential exports Appraisal of Zey Gawra and Ain Al Safra discoveries Banan…
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