Bana Acquisition 25 July 2019 Karoon signs binding Sale and Purchase Agreement to purchase the Bana Oil Field, offshore Santos Basin, Brazil
Resources Assessment Reserves and contingent resources estimates (in accordance with SPE-PRMS 2011 guidelines) shown in this presentation are Karoon Energy Ltds assessment of the fields contained in the BM-S-40 concession at 14 May 2019.…
Transformational Acquisition Karoon has signed a binding sale and purchase agreement to acquire a 100% operated interest in the Bana oil field in the Santos Basin, Brazil Current field production of 20 Mbopd (1) and target production…
Transaction Summary Karoon to acquire 100% operated interest in the Bana field in the BM-S-40 concession from Petrobras Transaction (comprising the Bana and Piracaba reservoirs and the Patola discovery) Effective date of transaction…
Funding Summary Karoon is proposing to fund the acquisition of Bana with a combination of existing cash, debt, equity and pre-completion cash flows from the acquisition Existing cash reserves US228 MM current cash reserves as at 30…
Alignment with Corporate Strategy Delivering on Karoons 3 Pillar Corporate Strategy Key Pillar 1: Acquire high quality cash generating production asset Key Pillar 2: Bring existing assets to production Key Pillar 3:…
Bana Asset Overview Well located with simple and efficient operations BM-S-40 concession is located in the southern Santos Basin, 50-60km from Karoons Goi and Neon fields and 50km from the Clorita exploration block Shore base…
Bana Geological Summary Excellent subsurface characteristics Bana Well Log Piracaba Well Log Depth Structure Reservoir Depth Mapping High Vcl Poro Bana Piracaba Vcl Poro Seismic Cross Section* 10m Low Piracaba Bana Patola…
Bana Production and Reserves Established production and strong potential through ongoing investment Production Growth Target Reserves and Contingent Resources 40 35 33 Production Karoon Resources Assessment(4) growth from 30…
Base Case Growth Projects Incremental production and development opportunities to establish a production hub Patola Tie-in Patola oil discovery well (SPS-91) drilled in 2011 within BM-S-40 production ring-fence Similar reservoir…
Transition to Operatorship Karoon well placed with experienced production personnel ready for operation Karoons Production Capability Karoon has more than 10 years operating experience in Brazil FPSO Operations Class A Operator…
Strategic Asset Supporting Southern Santos Basin Strategy Bana provides synergistic value creation from Karoons other southern Santos Basin assets Builds on established Karoon has been active in the southern Santos Basin for over 10…
Transformational Acquisition Karoons Managing Director, Mr. Robert Hosking said: The company has been working very hard over the past three years to acquire a high quality production asset with robust economic returns. Through the…
Glossary of Terms Term Definition Term Definition ANP Agncia Nacional do Petrleo, Gs Natural e Biocombustveis. EOR Enhanced Oil Recovery American Petroleum Institutes Inverted scale for denoting the 'lightness' or FPSO Floating…
Glossary of Terms (contd) Term Definition Prospect risk or geologic risk is the assessed chance that the drilling of the prospect will be successful in finding significant volumes of hydrocarbons. The risk is Risk (geological)…
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