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AGM OF SHAREHOLDERS – Pryme Energy Limited

Pryme Energy Limited · Apr 23, 2014 · 20 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. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 1
    Pryme Energy Ltd ASX Code: PYM OTCQX Code: POGLY Annual General Meeting of Shareholders 23 April 2014
  2. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 2
    Pryme Capitalisation Summary ASX Code PYM OTCQX Code POGLY Shares on issue (following rights issue) 343,053,990 Market capitalisation A8.5 million Share price range (12 months) A0.012-A0.037 Current Price (22 April 2014) A0.025 Rights…
  3. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 3
    Financial Update Production: Raven (35% WI) and Four Rivers (8%-25% WI) Existing Production (net to Pryme) Oil 52 Bbls/day Natural Gas 92 Mcf/day* Total/Day 70 BOE/day Annual net revenues A2.4 million *Natural gas is converted at…
  4. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 4
    Rights Issue and Shortfall Funding Pryme intends to place the shortfall shares under the Rights Issue Helmsec Global Capital appointed as lead manager Shortfall shares to be issued at offer price of A0.02 per share Rights/shortfall…
  5. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 5
    Corporate Update Production facilities on the Devon Bishop 1H Cline Shale well Capitola Oil Project (Capitola) Capitola (earning up to 75% WI, 56.25% NRI): achieving typical well profiles from the drilling program which have the…
  6. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 6
    Investment Highlights Prymes business model: Solid existing oil production and reserves Capitola: low risk + growth + upside asset Demonstrated ability to find/transact growth assets Experienced Board and management Capitola Oil…
  7. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 7
    Capitola Oil Project - Overview The farm-in provides up to 75% WI, 56.25% NRI (50% WI Significant upside in a proven oil play for Pryme and its shareholders Justin Pettett, Managing Director in the Cline Shale) in 9,333 acres of oil…
  8. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 8
    Capitola Oil Project - Pay summary of primary objectives Breckenridge Lime MD 4,500 feet Conventional objective (vertical and horizontal completion opportunities) Carbonate encased in shale just above Canyon Sands Shelf edge feature -…
  9. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 9
    Capitola Oil Project - Cline Shale Analysts calculate the Cline Shale as roughly 140 miles long and 70 miles wide and liken it to the next Eagle Ford or Bakken play with more recoverable oil and gas than both combined Also referred…
  10. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 10
    Capitola Oil Project - Objectives Stage I Objectives Vertical wells in productive fields - establish production from known productive sands Testing prospective intervals with shows Take core and log data from prospective intervals on…
  11. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 11
    Capitola Oil Project - Project potential Significant upside in a proven oil play for Pryme and its shareholders Multiple stacked conventional targets with Cline Shale upside (large independents currently proving up play) 200+ vertical…
  12. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 12
    Capitola Oil Project - Typical well profile Development of the Breckenridge Lime and Canyon Sands formation will be by way of vertical wells initially to depths less than 6,000 feet (1,828 metres) Typical vertical fracked well costs…
  13. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 13
    Capitola Oil Project - Strategic advantages Drill to earn structure - minimal upfront cash payment (US100,000) and issue of shares to vendor Back-in after payout enables Pryme to cover all costs before carried working interest reverts…
  14. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 14
    The path forward Producer with exploration and development upside Drill out 10 well program in Four Rivers stacked Middle Wilcox oil sand project - conventional exploration Pryme free carried through casing point with option to…
  15. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 15
    Contact details For further information please contact: Australia USA Justin Pettett Ryan Messer Managing Director Chief Operating Officer Pryme Energy Limited Pryme Energy Limited Telephone: +61 7 3371 1103 Telephone: +1 713 401 9806…
  16. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 16
    Appendices Capitola and Glossary 17
  17. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 17
    Capitola Oil Project - Breckenridge Lime and Canyon Sands Breckenridge Limestone The Breckenridge Limestone is located at approximately 4,500 TMD and shallower and is a conventional objective containing both vertical and horizontal…
  18. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 18
    Capitola Oil Project - Location and geology The Eastern Shelf of the Permian Basin is emerging as a multiple shale and stacked carbonate resource play proven in recent drilling with IPs of up to 1,000 BOE/day from horizontal drilling…
  19. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 19
    Capitola Oil Project - Earn-in terms Pryme to earn into a 75% WI (56.25% NRI) in 9,333 acres to all depths from the surface to the top of the Cline Shale (7,000 net acres to Pryme) and a 50% WI (37.5% NRI) in all depths from the top of…
  20. AGM OF SHAREHOLDERS – Pryme Energy Limited – slide 20
    Glossary A Australian Dollars US United States Dollars Bbls/day Barrels (of oil) per day MMBO Million Barrels of Oil MMBOE Million Barrels of Oil Equivalent BOE Barrels of Oil Equivalent BOE/day Barrels of Oil Equivalent per day…

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