Toolebuc Shale Unconventional Frontier Exploration J.P. Morgan Shale Corporate Access Day 10 May 2012
Company Overview Very large acreage position in Galilee Basin, Queensland - 27,000 km sq over 5 contiguous permits Prospective for CSG, shale oil/gas and conventional oil - Katherine-1 conventional oil discovery in 2011…
Location Map 4
Shale General Principles Basic requirements for a petroleum shale system High organic content 2% Sufficient thermal maturity for Generation Expulsion Connecting fracture system to offset low rock permeability Natural Induced…
Toolebuc Shale Conventional Industry View Toolebuc shale is well described and extensive Very high TOC across the basin 5% Uniform thickness around 35m in permit areas Gas shows whenever intersected by drilling BUT, viewed as…
Toolebuc Shale Exomas Pre-drill Perspective Permit areas favourably located in high-TOC sweet spot Very large permit area, 20,000 sqkm covering Toolebuc shale - wide range of geological settings Mud logging analysis shows C2-C5…
2011 Shale Exploration Program Exploration Objectives: Confirm presence of productive shale system Start to quantify potential resource Provide basis of design for appraisal Sampling over wide area 3 shale core wells Variety of…
2011 Exploration Results Free oil recovered 35m above Toolebuc Shale at Bessies-1 Evidence of maturity Evidence of expulsion Evidence that the productive system may extend beyond the Toolebuc Oil samples extracted from all three…
2011 Conclusions Toolebuc Shale has excellent potential as a shale oil/gas system Apparently low maturity compared to many US shales BUT, empirical evidence shows the Toolebuc actually is: Thermally mature for conversion…
Questions for 2012 Appraisal Program What is the internal structure of the Toolebuc shale system What is the geochemistry of the oil system Where are the sweet spots for production testing How should production testing be designed…
2012 Shale Exploration Program Gather further data: 7 shale core wells Shale chip samples from 11 CSG wells Map distribution of key shale properties Hydrocarbon content and characteristics Source/reservoir thickness Maturity…
2013 and Beyond Leverage off the 2011 and 2012 data and technical knowledge: Locate sweet spots Well and completion design Production testing Reserves build Objectives: 1. Demonstrate deliverability 2. Systematically accumulate…
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