Se ha denunciado esta presentación.
Utilizamos tu perfil de LinkedIn y tus datos de actividad para personalizar los anuncios y mostrarte publicidad más relevante. Puedes cambiar tus preferencias de publicidad en cualquier momento.
Growth through focused Oil & Gas exploration
and production
September Presentation – Symposium Investor Roadshow
ASX Code:...
IMPORTANT
THIS PRESENTATION HAS BEEN PREPARED BY ANTILLES OIL & GAS NL ("ANTILLES"). IT SHOULD NOT BE CONSIDERED AS AN OFF...
SNAPSHOT
Antilles represents an
entry for investors into
high value deep water
Atlantic Margin type
exploration
Antilles t...
INVESTMENT
THEMES
• Proven board with
career success at
both junior company
and major level
extensive industry
networks, ...
* 16.6M Class A Performance Shares, 2.3M Class B Performance shares and 18M partly paid shares (1c
paid, 19c to be paid) o...
DIRECTORS & MANAGEMENT
6
PERSONNEL POSITION EXPERIENCE
Dr. Jack Hamilton Non-Executive Chairman Highly experienced executi...
Pura Vida
– Founder of the company and responsible for entry to Morocco
– Entry to deep water Morocco ahead of the industr...
BHP - Team leader Atwater fold belt, 1995–2000
– Worked large Gulf of Mexico AMI with BP
– Opened Middle and Lower Miocene...
PERUVIAN
ACTIVITY
Cepsa
Gran Tierra
Repsol
Karoon
Peru has
resources 15.4
TCF / 663
MMBO
Perupetro
Repsol
9
• Major produc...
Block 105:
– Antilles delivers on the first stage of their strategy acquiring large, prospective acreage
position onshore ...
With the major road, rail link and new pipeline project, block 105 is in an ideal area for
development and export of resou...
The Pirin field and surface seeps being proximal to the existing seismic
database potentially provides Antilles with low r...
– Extensive salt basin with prospective levels both above and below the salt.
– The prospective targets above salt have pr...
At Antilles we see an extensive salt basin with simple traps both above and below the salt. The prospective targets
above ...
The block is currently in force majeure at the previous operators election
while engaging with local communities as requir...
The permit is a royalty tax regime
– Royalty is 5% below 5,000 bopd and between 5% and 20% up to 100,000 bopd
– 5% over ri...
17
)=
Æ
B
B
BB)=)=B
j
B
B
)=
)=B
)=
j
)=)=
)=
)=
)=
)=
Æj)=
)=)=)=B)=B)=)=)=)=)=)=)=)=)=)=B)=)=)=)=)=)=)= )=)=)= )=)= j)=B...
CARIBBEAN/
SOUTH AMERICA:
“ANTILLES REGION”
• Stable democracies
• Sovereign risk amongst
lowest in South America
• Signif...
STRATEGIC
INDUSTRY
PARTNERSHIP
Strategic Seismic
Partnership:
established agreements
with key seismic
groups, exchanging
e...
20
3D SEISMIC PARTNER: Polarcus Ltd.
ANTILLES DRILLING PARTNER: AGR
21
• Antilles entered into an MOU with AGR, an Oslo-listed oil and gas service company, to ...
• Surrounding blocks
taken by BP, BHP
and Anadarko
• BHP has committed
to more than
$US1 billion in
exploration efforts
(T...
Acreage acquisition in Peru – a proven play
– Reprocessing of existing 2D illustrating the salt
play may lead to rapid par...
ASX: AVD
CONTACT DETAILS:
ANTILLES OIL AND GAS NL
SUITE 2316, LEVEL 23, HWT TOWERS,
SOUTHBANK, MELBOURNE, VIC 3006
T: +61 ...
Próxima SlideShare
Cargando en…5
×

Antilles Oil and Gas (ASX: AVD) Investor Roadshow presentation September 2015

Antilles Oil and Gas Investor Roadshow presentation September 2015

  • Inicia sesión para ver los comentarios

  • Sé el primero en recomendar esto

Antilles Oil and Gas (ASX: AVD) Investor Roadshow presentation September 2015

  1. 1. Growth through focused Oil & Gas exploration and production September Presentation – Symposium Investor Roadshow ASX Code: AVD
  2. 2. IMPORTANT THIS PRESENTATION HAS BEEN PREPARED BY ANTILLES OIL & GAS NL ("ANTILLES"). IT SHOULD NOT BE CONSIDERED AS AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SHARES IN ANTILLES OR AS AN INDUCEMENT TO MAKE AN OFFER OR INVITATION WITH RESPECT TO THOSE SECURITIES. NO AGREEMENT TO SUBSCRIBE FOR SHARES IN ANTILLES WILL BE ENTERED INTO ON THE BASIS OF THIS PRESENTATION. THIS PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS THAT ARE NOT BASED ON HISTORICAL FACT, INCLUDING THOSE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY CONTAINING SUCH WORD AS 'BELIEVES', 'MAY', 'WILL', 'ESTIMATES', 'CONTINUE', 'ANTICIPATES', 'INTENDS', 'EXPECTS, 'SHOULD', 'SCHEDULE', 'PROGRAM', 'POTENTIAL' OR THE NEGATIVES THEREOF AND WORDS OF SIMILAR IMPORT. ANTILLES CAUTIONS THAT THESE FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL EVENTS OR RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THE STATEMENTS. THE FORWARD LOOKING STATEMENTS ARE EXPRESSLY SUBJECT TO THIS CAUTION. ANTILLES MAKES NO REPRESENTATION, WARRANTY (EXPRESS OR IMPLIED), OR ASSURANCE AS TO THE COMPLETENESS OR ACCURACY OF THESE FORWARD-LOOKING STATEMENTS AND, ACCORDINGLY, EXPRESSES NO OPINION OR ANY OTHER FORM OF ASSURANCE REGARDING THEM. ANTILLES WILL NOT NECESSARILY PUBLISH UPDATES OR REVISIONS OF THESE FORWARD-LOOKING STATEMENTS TO REFLECT ANTILLES' CIRCUMSTANCES AFTER THE DATE HEREOF. BY ITS VERY NATURE EXPLORATION AND DEVELOPMENT OF OIL AND GAS IS HIGH RISK AND IS NOT SUITABLE FOR CERTAIN INVESTORS. ANTILLES SHARES ARE A SPECULATIVE INVESTMENT. THERE ARE A NUMBER OF RISKS, BOTH SPECIFIC TO ANTILLES AND OF A GENERAL NATURE WHICH MAY AFFECT THE FUTURE OPERATING AND FINANCIAL PERFORMANCE OF ANTILLES AND THE VALUE OF AN INVESTMENT IN ANTILLES INCLUDING AND NOT LIMITED TO ECONOMIC CONDITIONS, STOCK MARKET FLUCTUATIONS OIL AND GAS DEMAND AND PRICE MOVEMENTS, REGIONAL INFRASTRUCTURE CONSTRAINTS, SECURING DRILLING RIGS, TIMING OF APPROVALS FROM RELEVANT AUTHORITIES, REGULATORY RISKS, OPERATIONAL RISKS, RELIANCE ON KEY PERSONNEL, FOREIGN CURRENCY FLUCTUATIONS, AND REGIONAL GEOPOLITICAL RISKS. THIS PRESENTATION DOES NOT PURPORT TO BE ALL INCLUSIVE OR TO CONTAIN ALL INFORMATION WHICH YOU MAY REQUIRE IN ORDER TO MAKE AN INFORMED ASSESSMENT OF THE COMPANY'S PROSPECTS. YOU SHOULD CONDUCT YOUR OWN INVESTIGATION, PERFORM YOUR OWN ANALYSIS, AND SEEK YOUR OWN ADVICE FROM YOUR PROFESSIONAL ADVISER BEFORE MAKING ANY INVESTMENT DECISION. CAUTIONARY STATEMENT FOR PROSPECTIVE RESOURCE ESTIMATES - WITH RESPECT TO THE PROSPECTIVE RESOURCE ESTIMATES CONTAINED WITHIN THIS REPORT, IT SHOULD BE NOTED THAT THE ESTIMATED QUANTITIES OF PETROLEUM THAT MAY POTENTIALLY BE RECOVERED BY THE FUTURE APPLICATION OF A DEVELOPMENT PROJECT MAY RELATE TO UNDISCOVERED ACCUMULATIONS. THESE ESTIMATES HAVE AN ASSOCIATED RISK OF DISCOVERY AND RISK OF DEVELOPMENT. FURTHER EXPLORATION AND APPRAISAL IS REQUIRED TO DETERMINE THE EXISTENCE OF A SIGNIFICANT QUANTITY OF POTENTIALLY MOVEABLE HYDROCARBONS. INFORMATION IN THIS REPORT RELATING TO HYDROCARBON RESOURCE ESTIMATES HAS BEEN COMPILED BY DAVID ORMEROD, THE ANTILLES MANAGING DIRECTOR. DAVID ORMEROD HAS OVER 25 YEARS OF EXPERIENCE IN PETROLEUM GEOPHYSICS AND GEOLOGY AND IS MEMBER OF THE AAPG. DAVID ORMEROD CONSENTS TO THE INCLUSION OF THE INFORMATION IN THIS REPORT RELATING TO HYDROCARBON PROSPECTIVE RESOURCES IN THE FORM AND CONTEXT IN WHICH IT APPEARS. THE PROSPECTIVE RESOURCE ESTIMATES CONTAINED IN THIS REPORT ARE IN ACCORDANCE WITH THE STANDARD DEFINITIONS SET OUT BY THE SOCIETY OF PETROLEUM ENGINEERS, PETROLEUM RESOURCE MANAGEMENT SYSTEM. 2
  3. 3. SNAPSHOT Antilles represents an entry for investors into high value deep water Atlantic Margin type exploration Antilles team possesses business and technical skills from the Atlantic Margin applicable to the Antilles Region in the Caribbean Targeting countries where Antilles team has experience Antilles has a strategic technical relationship with geophysical specialist contractor to enable use of cutting edge geophysical technology Established reputation with small Australian companies, Karoon Gas and Pura Vida Energy, in accessing high quality Atlantic Margin acreage of same style – currently available in the Antilles 3
  4. 4. INVESTMENT THEMES • Proven board with career success at both junior company and major level extensive industry networks, particularly in Caribbean and South America • Strategic industry partnerships including seismic, HSE and drilling which mitigates funding risk for Antilles • Large prospective acreage position acquired onshore Peru (100% Equity) • 2D Seismic data available for reprocessing, low cost drilling • Desirable fiscal regime/operational setting • Global economic conditions and oil price  exceptional opportunity 4
  5. 5. * 16.6M Class A Performance Shares, 2.3M Class B Performance shares and 18M partly paid shares (1c paid, 19c to be paid) on issue CAPITAL STRUCTURE Australian Listed Company ASX: AVD Fully paid ordinary shares 42,489,063 Cash at Bank A$0.85M Price A$0.035 Market Cap A$1.49M Key Shareholders Havoc Partners 6% HSBC 3% Management 12% Top 20 Holders 48% 5 As of August 31, 2015
  6. 6. DIRECTORS & MANAGEMENT 6 PERSONNEL POSITION EXPERIENCE Dr. Jack Hamilton Non-Executive Chairman Highly experienced executive and board director with over 25 years experience, previous director NW Shelf for WPL. Currently director of Duet Group, SXE. David Ormerod Managing Director 25+ years oil and gas exploration experience in capturing and operating new quality acreage. Former Technical Director Pura Vida Energy. Gary Grubitz Non-Executive Director 35+ years oil and gas deep water exploration experience in operating high quality acreage. Former Vice President Exploration, BHP. Damian Black Non-Executive Director Extensive experience in corporate finance, specializing in resources/oil and gas sector. Ranko Matic Company Secretary/CFO Extensive experience in corporate governance.
  7. 7. Pura Vida – Founder of the company and responsible for entry to Morocco – Entry to deep water Morocco ahead of the industry – Subsequently farmed out to FreePort McMoran for two wells, total value $230M – Drilling to start in Jan 2015 – Entry to Gabon and Madagascar deep water blocks Karoon – Responsible for entry into Santos Basin Brazil where Karoon successfully farmed out to Pacific Rubiales and subsequently drilled three wells two of which were significant discoveries. – Responsible for entry to Peru where Karoon has offshore and onshore acreage with drilling commencing soon BHP – Worked a variety of regions including GoM, West Africa, SE Asia, Brazil, – Multiple deep water wells drilled in variety of settings including same styles to target countries – Partnered with oil majors in number of JV’s including Exxon, Shell, BP DAVID ORMEROD – A PROVEN TRACK RECORD 7
  8. 8. BHP - Team leader Atwater fold belt, 1995–2000 – Worked large Gulf of Mexico AMI with BP – Opened Middle and Lower Miocene play in Green Canyon – the most significant new play in the period – Made multi-hundred million barrel deepwater Miocene discoveries at Neptune, Atlantis, and Mad Dog BHP - Exploration Manager Gulf of Mexico, 2001–2006 – Made multi-hundred million barrel deepwater discoveries at Cascade (operated), Puma, Chinook (operated), Shenzi (operated), and Knotty Head – Opened Paleocene-Eocene play in Walker Ridge – the most significant new play in the period – Additional commercial discoveries: Boris, Vortex, Boris South, Tiger, Starlifter, Mustang, and Little Burn – BHP added the highest value per exploration dollar spent over 10-year period from 1995 to 2005 BHP - VP Global Exploration, 2006–2013 – Delivered multi-Tcf discoveries in Australia – Expanded deepwater portfolio in SE Asia, Latin America, and West Australia – Successful field extensions in Malaysia-Brunei GARY GRUBITZ – EXCEPTIONAL EXPLORATION SUCCESS 8
  9. 9. PERUVIAN ACTIVITY Cepsa Gran Tierra Repsol Karoon Peru has resources 15.4 TCF / 663 MMBO Perupetro Repsol 9 • Major producing areas in the onshore Maranon Basin and to the south in the Ucalyi Basin • Numerous smaller to mid cap companies • Bid round 2014/15
  10. 10. Block 105: – Antilles delivers on the first stage of their strategy acquiring large, prospective acreage position onshore Peru in Block 105 Southern Peru – Working hydrocarbon system present with historic oil production on the block – Recent 2D seismic data available for reprocessing/interpretation using modern technology – High equity (100%) places Antilles in strong position with regards to potential future farm-out – Low cost exploration and attractive fiscal terms Sechura Basin TEA: – Antilles acquires rights to technical evaluation agreement in Peru – Working hydrocarbon system 10 ANTILLES DEVELOPS POSITION IN PERUVIAN PROJECTS
  11. 11. With the major road, rail link and new pipeline project, block 105 is in an ideal area for development and export of resources 11 LOCATION OF BLOCK 105 LOCAL INFRASTRUCTURE AND DRILLING B BB jjjjjjjjjjj Pirin J Pirin HPirin G Coata 2X Coata 1X Ayabacas 1X GRUPO PETROLERO 156 SIBOIL DEL PERU 105 SIBOIL DEL PERU 105 Legend Pipelines Field 0 25 50 75 10012.5 Kilometers Sources: Esri, HERE, DeLorme, TomTom, Intermap, increment P Corp., GEBCO, USGS, FAO, NPS, NRCAN, GeoBase, IGN, Kadaster NL, Ordnance Survey, Esri Japan, METI, Esri China (Hong Kong), swisstopo, MapmyIndia, © OpenStreetMap contributors, and the GIS User Community
  12. 12. The Pirin field and surface seeps being proximal to the existing seismic database potentially provides Antilles with low risk drilling opportunities as a result of the planned seismic reprocessing. 12 EXISTING SEISMIC AND WELLS PIRIN OIL FIELD B B B jjjjjjjjjjj Pirin J Pirin I Pirin H Pirin 1 Coata 2X Coata 1X Ayabacas 1X 105 156 105 Legend Railways Pipelines Peru Existing seismic 105 New Seismic Survey Pirin field produced around 300,000 barrels of 37 API oil Perupetro 2008
  13. 13. – Extensive salt basin with prospective levels both above and below the salt. – The prospective targets above salt have produced at Pirin and the Maranon Basin while those below the salt produce at the Hunt operated LNG project to the north. 13 TOP SALT STRUCTURE MAP B B B jj j jjjjj jjj Pirin I Pirin HPirin G Pirin C Pirin B Coata 2X Coata 1X Ayabacas 1X 105 Legend Top Salt Railways Pipelines Peru Existing seismic 105 Top Salt.bil RGB Red: Band_1 Green: Band_2 Blue: Band_3 0 5 10 15 202.5 Kilometers Contour interval is 20 ms or ~40 m in vertical relief
  14. 14. At Antilles we see an extensive salt basin with simple traps both above and below the salt. The prospective targets above salt are compressional anticlines while those below the salt simple tilted fault blocks as seen in many oil producing basins worldwide where the Antilles team has worked. 14 SEISMIC LINE Simple compressional fold Salt Salt Trap Trap 2 km 200m
  15. 15. The block is currently in force majeure at the previous operators election while engaging with local communities as required in Peru – Work program is to shoot 200 km of new 2d seismic at an expected cost of US$2 million in the twelve months post lifting force majeure (2nd term of the permit) – Option exists to drill earlier if the reprocessing of the existing seismic better defines the current leads – Expected cost of drilling US$2.5 million – This would meet the commitment for the 3rd term of the permit of 18 months 15 WORK PROGRAM
  16. 16. The permit is a royalty tax regime – Royalty is 5% below 5,000 bopd and between 5% and 20% up to 100,000 bopd – 5% over riding royalty to previous operator – Tax rate of 32% – Additional profit tax based on R factor approximately 5% – NPV per barrel around US$10-15 for US$50 oil. IN SUMMARY, A SIMPLE PROGRESSIVE FISCAL SYSTEM WHERE THE INVESTORS ARE REWARDED IN THE SUCCESS CASE 16 ECONOMIC TERMS Royalty & Costs to Develop Company Tax
  17. 17. 17 )= Æ B B BB)=)=B j B B )= )=B )= j )=)= )= )= )= )= Æj)= )=)=)=B)=B)=)=)=)=)=)=)=)=)=)=B)=)=)=)=)=)=)= )=)=)= )=)= j)=B j BB)= )= )= j)= ! )= )= )= ! )=B)= !B )=)= B B B ÆBBÆ BÆ !B B ! B B)= )= )=BBjB B BBBB B)= j B )= j)=)=)= )=)=)= )=)=)= )=)=)=B ! ÆB)=ÆBB )= jB)=Æj j)= ! j )=)=)= )=)=j )= )=B)= B)= )=)=)=)=)=BBB j )= B B j B Bj B )=)= )= )=j j )=)=B )= B B B)= ! B !j)= BB Bj )=B)= jB)=j)=)=B)=)= B )= B j B !BB)=BBÆÆBB B )= jB j BBB )= j)= )=)= B )=)=)=)=)=)=Æ )=BB)= B )=B B)=BB)=BB j j)=)=)=)=)=)= B )= B )=jj! )=jB j B B BBB )=)=)=)= ÆÆ B BB B B BB B )= j Æ B )= ! B )= BB )=)= B B )= )=B =BB !B! )=)=B)=)= )=)=B)=)= )=)=)=B)= )=)=BB)= j jj jjBBB)= jjj)=)= j )= jj ÆBjB )=)= B )= )= )= j j )= )= )=)= Æ )=)= )=B)=)=)=)=)=)= )=j )= )=)=B )= )=B )=)=)=)=)=)= )=)= )=)=)=BB)=)=)= B )= j B B )= )=)= ! B B B BB B B )= )=)= ! )=j )=)=)=B)=)=)= B)=BÆBÆj BÆB!)=)= )=)=)=)=)= j! )=)=B)=)=)=)=)= j )= )= B)= jB B B B B B j )=)= j B BB B BjB BÆ B BB j BB! B Æ B B )=)=)=)=)=)=)=)=)=)=)=)=)=!BB)=)=B)=)=)= B!BB)=)=B )=j )= )=)=)=B)=)=B )=)=jj)= j)=)=j)= )=)=)=)=)= BB B B j B B B B B B B B)= )=B B B!B j j )=)=)=)=B )= j )= j j)= )=jjj Æ j j Bj j)=)= )= )= B B)=B)=j)=Æ BB)= BÆB)=BB BB Bj )=BBÆ )=)=)=B)=)=)=)= 0 )=)=)= ! j)= B)=)=)=)=)= B)=BBÆ)=)= )=B )=)=)=)= B)=B)=Bj )= )=)=)=)=)=jBB j j BBB Bj )=jBB B B B BBB)=)=Æ )=)=! )=)=)=)= B)=)=)=)=)= BB B)= )= j B)= )=)= )=)=)= )= )=)= B B j B B B B ! B )= jBj j)=!! ! B !! ! ! !B B )=)= B B B)=)= ! )= )= BB B jB )= )= )= " )= )= )= "= " = " "Buho 1X Piura 1 Paita 4 Paita 3 Paita 2 Paita 1 Lobo 1X Colan 1X Diucon 1X Peoco 7-1 Nuto 5510 Nuto 5365 Nuto 5085 Nuto 4760 Nuto 4270 La Brea D Boca 3575 Becara 1X Abejas 1X CISNE - 1X La Isla 1x Zorro 4095 Zorro 3560 Zorro 3495 Zorro 1721 Viru 5-X-1 Viru 4-X-2 Viru 4-X-1 Mochica 1X Lucia 3995 La Huaca 1 Hilda 4520 Golf Pq 7a Cas P75 2X Viru 69-X-1 Viru 45-X-1 Tamarindo 3 Tamarindo 2 P.G. 39-X-1 Golf P25 X2 Cuesta 4870 Btal L1 X15 Zapata PhX O Zapata PhX N Zapata PhX E Zapata PhX A Zapata NhX 7 Zapata NhX 6 Zapata NhX 4 Tamarindo 1X Mirador 4750 Mirador 4510 La Brea 3685 La Brea 3555 Chir EX4 15X Chira RC1-6XD Mirador SX-38 Mirador NX-14 EXpecta 1-X-1 San Alberto 2X San Alberto 1X Paita NpXb-24X Lagunitos 5565 Lagunitos 4400 Epf-Belco 8 X2 Malacas Bp 5015 Epf-Belco 8a X3 Silla XXIV-07-1X Providencia A4 1X Aguila-XXIV-07-1xd Mochica XIII-30-2X Alvarez-Oveja 4505 Silla XXIV-07-1X ST Pelusa 1 -1X (Litoral) Portachuelo Oeste 4425 Sur Balcones Lit65 P34 3X Lobitos Offshore MlX9 15X XXII XXI XIII Z-34 Z-2B III XXIV Z-6 Z-45 XIII IV Z-6 XXVIII VII 0 10 20 30 405 Kilometers Wells <all other values> ContStatus " B Dry Æ Gas #! Gas & cond ! Gas shows = Not available )= Oil 1 Oil & gas 0 Oil & gas shows j Oil shows AVD AOI Fields Magnetic Field RTP RGB Red: Band_1 Green: Band_2 Blue: Band_3 SECHURA BASIN TEA – Sechura Basin has a proven source rock the Muerto Formation which has sourced the billion barrels recovered from the oil fields to the west of the license area – Good oil shows in the two wells proving the extent and presence of the source rock – Large scale reservoirs – The inversion structures seen in the area generate large scale structures which have substantial resource potential. – The map of magnetic response indicates a major high running through the centre of the block associated with an inversion tectonic trend Antilles
  18. 18. CARIBBEAN/ SOUTH AMERICA: “ANTILLES REGION” • Stable democracies • Sovereign risk amongst lowest in South America • Significant production • Good terms for oil • Same system as seen in Venezuela where resource is 135 BBO • Antilles will chase Venezuelan system through the Caribbean 18
  19. 19. STRATEGIC INDUSTRY PARTNERSHIP Strategic Seismic Partnership: established agreements with key seismic groups, exchanging equity position in the block for seismic survey Drilling: partnered with a large offshore drilling company for drilling, HSE management. Facilitates participation in deep water bid rounds Deepens technical and corporate capability Significantly reduces financial risk for investors 19
  20. 20. 20 3D SEISMIC PARTNER: Polarcus Ltd.
  21. 21. ANTILLES DRILLING PARTNER: AGR 21 • Antilles entered into an MOU with AGR, an Oslo-listed oil and gas service company, to work together to assist in well planning, design and execution for the company and provide drilling capability to the company which is unique in the small cap sector.
  22. 22. • Surrounding blocks taken by BP, BHP and Anadarko • BHP has committed to more than $US1 billion in exploration efforts (Trinidad Express) • Antilles qualified to bid in Barbados EASTERN CARIBBEAN ACTIVITY BHP BHP BHP BP BHP BHP Anadarko BP Venezuela has around 135 BBO Trinidad has around 13 TCF / 1 BBO Exxon 22
  23. 23. Acreage acquisition in Peru – a proven play – Reprocessing of existing 2D illustrating the salt play may lead to rapid partnering – Potential to farm out to attract a operator via established relationships from Antilles team to lower risk and exposure – Rig selected and Rig contractor identified – Drilling event will aim to deliver significant value Deep Water Bidding Process Underway – Initial bids in place in proven productive fairways 23 KEY VALUE DRIVERS
  24. 24. ASX: AVD CONTACT DETAILS: ANTILLES OIL AND GAS NL SUITE 2316, LEVEL 23, HWT TOWERS, SOUTHBANK, MELBOURNE, VIC 3006 T: +61 8 9226 4500 EMAIL: DORMEROD@ANTILLESOILANDGAS.COM.AU 24

×