Transcript Slide 1

CLONTARF ENERGY
An emerging E&P company focused
on Africa and South America
April 2012
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High potential exploration projects
• Peru: Two high potential blocks ready for farm out.
• Block 188: Panguana is an appraisal / early development project.
• Further potential leads and prospects in the Block identified close to
the giant Camisea gas-field.
• Block 183: Is part of a seven billion-barrel Sub-Andean foreland
basin system. Five important leads have been identified.
• Ghana: A 60% interest in Ghana Tano 2A block licence covering
1,532km2. The block is close to four recent Tullow Oil plc
discoveries. Awaiting ratification.
• Bolivia: Stakes in two gas & oil producing fields – El Dorado and
Monteagudo.
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PERU: WORLD CLASS EXPLORATION PORTFOLIO
• Clontarf holds two exploration blocks:
183 and 188.
• Peru is a highly attractive, growing oil
& gas province.
• Farm out discussions underway.
• The Government takes proportionally
to the field profitability: Total effective
state take is 50%.
• Reasonable work programme.
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BLOCK 188 - UCAYALI
• 595,809 hectares of prospective ground, beside the giant Camisea
(16 tcf & 880mmbo) producing field.
• Extensive regional data available (13,400km of 2d seismic and 50
wells).
• Good seismic coverage and three wells drilled close to Block 188.
• Main petroleum system is Paleozoic, but;
- Four source rocks & three seals proven.
- Three main producing reservoirs in the area.
- Undeveloped oil discovery at neighbouring La Colpa.
• Oil discovered on the block in 1998. Phillips Petroleum drilled a well
at Panguana in the south-east of Block 188.
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Block 188 - Undeveloped discovery
• The identified Panguana structure presents a stand-alone prospect
suitable for early drilling:
• Phillips Petroleum drilled the 2,750 metre Panguana x-1 well in
1998. Uneconomic at the time.
• The oil collected was of good quality (37°API) in the Green
Sandstone Formation of Cretaceous and Paleozoic age.
• Based on the formation test, a reserves calculation estimated 31
million barrels of oil.
• The Phillips geophysicist believes that well logs show that the
(untested) underlying sections also contain oil.
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Block 188 - Leads
• Three Prospects and ten leads.
• The main objectives are Green
Sandstone (Carboniferous) and the
Paleozoic sandstones Ambo Group.
• The secondary objectives are the sands
of the Vivian, Chonta, Agua Caliente
and
Cushabatay
formations
of
Cretaceous age.
• Sands of Devonian, possibly the
Cabanillas Group, Ene, and the
Tarma/Copacabana
carbonates
of
Paleozoic age constitutes additional
exploratory objectives in the deepest
parts.
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BLOCK 183 - MARANON BASIN
• Block 183 is 396,826 hectares in the Marañon Basin, which has
produced since the 1940s.
• Two oil fields and one gas field neighbour Block 183.
• Good quality, recently re-processed seismic data is available.
• Two main source rocks: Triassic-Jurassic & Cretaceous.
• C. 1,700km of 2d seismic data – which has been re-processed.
• Five leads & prospects already identified, including 4-way closures in
the Yurimaguas Anticline.
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PROSPECTS AND LEADS
LEAD Nº 1 BLOCK 183
BP reprocessed seismic Line 19. It shows anomalies demonstrating
significant gas occurrence, which enhances the hydrocarbon potential in
Block 183, bounded most likely with lead four way closure located in the
line DX47/DX26.
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PROSPECTS AND LEADS
LEAD Nº 2 BLOCK 183
An important lead with exploratory potential has been identified
south of the neighbouring Shanushi well, with significant
evidences of gas and condensate, (this lead is located in same
trend inside Block 183).
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PROSPECTS AND LEADS
LEAD Nº 3 BLOCK 183
Line DX 22 NW-SE/Line DX 43 SW-NE - Lead four way closure
with exploratory potential has been identified in Block 183, north of
Santa Catalina 1X well.
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PROSPECTS AND LEADS
LEAD Nº 4 BLOCK 183
Line DX 53 NE-SW - Lead with exploratory potential has
been identified on SW border of Block 183 alongside Rio
Chipurana.
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PROSPECTS AND LEADS
LEAD Nº 5 BLOCK 183
Lead four way closure located in the lines DX45/DX
28.
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GHANA SWEET-SPOT BESIDE
TULLOW: TANO BLOCK
The concession is in the name of ‘Pan Andean Resources
Limited’ (Ghana co.).
Ownership:
Ghana has emerged recently as a world class oil province.
The discoveries offshore Tano contain billions of barrels.
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30% Petrel Resources
10% Ghanaian interests
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SALTPOND/CENTRAL BASIN
CAPE THREE POINTS
3°40'0"N
3°40'0"N
TANO BASIN/WESTERN BASIN
•
1,532km2 area
676km of 2d seismic reviewed
Multiple leads & prospects
identified
Awaiting parliamentary
approval. Expected Q2/Q3
2012
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TANO BASIN LICENCE
• Numerous seeps and shows onshore.
• Seeps fed from offshore oil kitchens.
• Past shallow onshore wells drilled without seismic control.
• No wells in the offshore part of licence.
• Thick sedimentary section.
• Promising features on offshore seismic lines.
• Available data reprocessed and analysed. Eight potential targets
identified.
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ONSHORE TANO BASIN STRUCTURES
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BOLIVIA: BUTTERFLY RE-EMERGING?
•
Nationalisation of hydrocarbons decree passed in
2008 so ownership status uncertain.
•
Strong gas demand in Brazil & Argentina. Government
determined to develop the oil and gas industry.
•
Clontarf Energy holds stakes in two proven projects, El
Dorado and Monteagudo, both on existing export
pipelines:
El Dorado (10% Clontarf 90% YPFB) is a producing
gas field near Santa Cruz.
Following recent
exploration success, management estimates reserves
at up to 400 bcf Gas and 8 to 10 million barrels
condensate.
Monteagudo (30% Clontarf, 30% Repsol-YPF, 20%
Petrobras 20% YPFB). Traditional field producing c.
120 bod. The potential is the deep gas play estimated
to contain up to 5 tcf. This is identified by 3d seismic
and is identical to nearby multi-tcf discoveries.
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BOLIVIA – EL DORADO
• Producing gas field near Santa Cruz estimated to contain 1.5tcfg.
• Owned 90% YPFB, 10% Clontarf.
• Dispute with previous 90% owner, BP, led to our group declaring force
majeure in 2007.
• Ongoing discussion with YPFB to clear dispute. Court judgement due.
If successful Clontarf will have to pay legacy costs and forego revenue
until costs in last two years are paid.
• Current production 19mmcfd (1.9m Clontarf).
• These wells are now producing 19mmcfd & 500b condensate. Planned
production is 40mmcfd & 800 barrels condensate – yielding gross
revenues of over $200k daily.
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BOLIVIA - MONTEAGUDO
•
Long established oil & gas field in southern Bolivia owned 30%
Clontarf, 20% Petrobras, 20% by YPF-Andina and 30% by
operator Repsol.
•
Shallow oil wells petering out after years of under-investment.
•
Significant 5 tcf potential structure in the deep ‘Huamampampa’
zone. Multi-tcf discoveries on neighbouring blocks.
•
Agreement reached for Repsol and Petrobras to sell their stakes.
Clontarf will go to 50% and LAE – an Argentinian oil services
company, will acquire the other 50%. There will be no cost to
Clontarf. Government approval required.
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Focused Strategy
• Peru: Three pronged strategy
 Examine opportunities to joint venture the Panguana prospect on
Block 188
 Farm out both blocks
 Sell our interest in Block 183
• Ghana: Awaiting ratification which is expected in mid 2012. All
requirements completed. Ready to move on seismic acquisition.
There are interested third parties.
• Bolivia: Finalising agreements on El Dorado and Monteagudo.
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COMMERCIAL
Listed:
February 2011
Shares in issue:
200m
Price:
3.5p
Market Cap:
£7 million
Nomad/Broker:
Shore Capital
Joint Broker:
Optiva
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EXPERIENCED BOARD
John Teeling – Executive Chairman
Established and managed a number of Stock
Exchange listed resource companies in the past 30
years. Currently chairs 4 AIM resource companies.
Holds a doctorate from Harvard and an MBA from
Wharton.
David Horgan – Director
Managing Director of AIM listed Middle East Oil
explorer Petrel Resources plc as well as Clontarf
Energy . Holds directorships in a number of resource
companies. Holds an MBA from Harvard & MA from
Cambridge.
Manouchehr Takin – Director
40 years experience working in natural resources
including working for Iranian Oil Consortium,
Geological Survey, Anglo American, Amoco, Ultramar,
NIOC and OPEC. Holds a PhD from Cambridge and
an MBA from IMI, Tehran.
Jim Finn – Finance Director
Holds degrees in management and an accounting
qualification and is a finance director for several
publicly listed junior exploration companies.
Mauricio Gonzalez – President South America
Former Bolivian Minister of Energy, President of
National Oil and Gas Company (YPFB). Director of
Compania Boliviana de Energia Electica, the largest
electric power generator in Bolivia. Worked as
consultant to the World Bank.
Jorge Flores – Operations Chief
45 years experience as field petroleum engineer, area
supervisor, and e&p manager. Former Operations
Chief of Bolivia’s National Oil and Gas Company
(YPFB).
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CONTACT DETAILS
Clontarf Energy Plc
162 Clontarf Road
Dublin 3
Ireland
Phone: +353 1 833 2833
Fax: +353 1 833 3505
Email: [email protected]
www.clontarfenergy.com
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