The document provides information on fire evacuation procedures for a building in the Falkland Islands. It outlines what to do if a fire is discovered, including operating the fire alarm, leaving the building via the nearest exit, and proceeding to the assembly point at Elizabeth Bridge. It also describes what to do upon hearing the alarm, which signals with a continuous high-pitched siren, and instructs occupants to close windows, leave via the nearest exit, proceed to Elizabeth Bridge, and not to use the lifts or stop to collect belongings. The document stresses to not re-enter the building until instructed by emergency services.
PA Resources reported a net loss of SEK 2.7 billion in Q4 due to impairment charges of SEK 2.1 billion and the termination of an agreement to farm out interests in the Didon and Zarat assets for SEK 826 million. Production averaged 6,500 boepd in Q4, down from previous quarters due to lower output from Tunisia following the failure of an ESP and the unwinding of the EnQuest transaction. The company's equity position fell below 50% of registered share capital, requiring approval from shareholders at an EGM to continue operations or initiate liquidation proceedings.
PA Resources reported production of 6,800 bopd for Q1 2013, down from 7,100 bopd in Q4 2012 due primarily to well issues in the Azurite and Tunisian fields. Revenue was SEK 446 million and EBITDA was SEK 242 million. Net income was SEK 34 million, rebounding from a loss in Q4. Capex was SEK 58 million, focused on West Africa. The company plans to pursue farm-outs to reduce costs and risk while developing existing reserves and resources of 155 mmboe, adding estimated production of 32 mmboe by 2018. Drilling campaigns are ongoing in Block I, Equatorial Guinea and being planned for 12/06 in
PA Resources is focusing on refining its business model for long-term sustainability. In 2013, it strengthened its balance sheet through refinancing, rationalized its portfolio through strategic farm-outs that reduced risk, and established an experienced management team. In 2014, priorities include appraisal and development drilling, submitting development plans, and exploring and applying for new licenses. The goal is to increase stable production and fund projects from cash flow.
Pa resources farm out and review-presentation 29 may_finalPA Resources AB
Philippe Probst and Tomas Hedström have been appointed as the new CEO and CFO of PA Resources respectively. PA Resources has farmed out 70% interest in the Zarat permit and Didon concession in Tunisia to EnQuest PLC. This includes operatorship. The farm-out includes an upfront cash payment of $23 million, $93 million additional payment for Zarat development, and contingent payments up to $133 million. The farm-out reduces PA Resources' reserves and resources but makes development of Zarat possible with EnQuest's capabilities and experience in similar projects. A strategic review of PA Resources' assets and long-term financing has also been initiated by the new management and board.
Premier Oil reported its 2014 half-yearly results. Production increased to 64.9 kboepd, up from guidance of 58-63 kboepd. Operating cash flow was $499 million. Capital expenditure was $506 million, focused on development projects like Solan and exploration. Premier aims to deliver further production and cash flow growth while strengthening its balance sheet through asset sales and refinancing.
- PA Resources reported on its Q3 operations and provided an overview of its plans and financial status.
- Key points include an independent reserves audit that estimated the portfolio NPV at $583 million, planned investments of $460 million over 4 years to develop key assets, and a short-term cash flow forecast that shows liquidity challenges.
- The company is working on a financing plan and received approval to defer $21 million in interest payments until February 2015 to maintain liquidity.
- PA Resources is an international oil and gas company with operations across West Africa, North Africa, and the North Sea.
- Their core areas of production are Equatorial Guinea and Tunisia, producing around 3,200 bopd currently.
- They have near-term developments planned in all three core areas, as well as high impact exploration opportunities including a well planned in Congo in 2015.
- In Q2 2014, production was impacted by gas compressor issues in Equatorial Guinea, while preparation continued for key developments like Diega in Equatorial Guinea and Zarat in Tunisia. Exploration activities also progressed on blocks like Mer Profonde Sud in Congo.
Pa resources agm 2013 presentation 14 may 2013PA Resources AB
PA Resources held its AGM in Stockholm on May 14, 2013. The company reported production and financial results for Q1 2013 and full year 2012. Production was down from previous periods due to limitations in some fields. The recapitalization completed in Q1 strengthened the equity position. The company outlined its business plan and strategy to focus on key assets and growth opportunities in West Africa, North Africa, and Europe. An operational update provided details on reserves, resources, license changes, drilling plans, and progress in fields such as Aseng, Carla South, and the Zarat field in Tunisia.
PAR Resources CEO Mark McAllister presented an overview of the company's Q4 2013 performance and plans for 2014 at the Pareto E&P Conference in London on March 13th, 2014. Key points included:
- The company strengthened its balance sheet in 2013 through equity raises, loans, and reducing risk via strategic farm-outs.
- An experienced management team is now in place to execute the development plan.
- In 2014, PAR plans to progress development projects in Tunisia, Equatorial Guinea, and Denmark, drill exploration/appraisal wells, and evaluate M&A opportunities to grow the portfolio.
- Premier reported strong 2013 annual results with cash flows of $833 million, up from $808 million in 2012. Cash on hand was $449 million.
- Production for 2013 was 57.7 thousand barrels of oil equivalent per day, up from 58.2 thousand in 2012.
- The company expects to sanction the Catcher development in 2014 and for Solan to come online late 2014. Exploration successes included discoveries in Norway, Indonesia and the Falklands.
- Premier will focus investments on highest return projects while maintaining a strong balance sheet and reducing capital exposure to the Sea Lion project.
Premier Oil Investor Presentation 2017-FebruaryOILWIRE
Premier Oil Investor Presentation 2017-02-17, 2016 Highlights - High Operating Efficiency, Step Change in Production, Continued Portfolio Upgrading, Cost Reductions, Refinancing in Progress.
Pa Resources Rights issue and bond undertakings 5 june 2013PA Resources AB
1) PA Resources announced a fully underwritten rights issue of SEK 891 million to further strengthen its financial position.
2) They also plan a possible new bond issue of up to SEK 1,000 million, over 50% of which is underwritten by two larger investors.
3) A strategic review of the company's assets, strategy, and long-term financing has also been initiated by the new Board of Directors and management team.
Pa resources q4 2012 presentation_6 february 2013PA Resources AB
PA Resources reported financial results for the fourth quarter of 2012. Key highlights included lower production and oil prices decreasing revenue compared to Q3. EBITDA margin improved to 56.9% due to stable costs. A recapitalization was completed through a set-off issue and rights issue, strengthening the equity by approximately SEK 1.57 billion. The company's strategy going forward focuses on long-term growth through development of existing reserves and reducing risk through farm-out transactions of certain assets.
This document provides a summary of PAR Resources' performance in the fourth quarter of 2013. It discusses the company strengthening its balance sheet through refinancing and portfolio rationalization including strategic farm-outs in Congo, Denmark, and Tunisia. Operational highlights included resuming production in Tunisia and encouraging results from drilling in Equatorial Guinea. Plans for further appraisal and development were outlined for fields in Tunisia, Denmark, and Equatorial Guinea. Financially, revenue and earnings declined from the previous quarter while the company remained in compliance with debt covenants.
Tony Durrant presented 2014 Annual Results for the company. Key points included:
- 2014 production was 63.6 kboepd, above guidance and a record. The Solan project in the UK came online.
- The Sea Lion development in the Falkland Islands is being reconfigured to use a leased FPSO for Phase 1a at an estimated cost of $1.8 billion, developing 160 million barrels.
- Operations in Indonesia, Vietnam, and the Falklands continue to generate strong cash flow with low capital requirements. Exploration and appraisal drilling is planned in multiple areas.
- Cost reductions and efficiency improvements have lowered the cost base. Identified expenditure reductions through 2017 could save
April Investor RoadShow *Special Oil and Gas* GALILEE ENERGY LIMITEDSymposium
Galilee Energy is an oil and gas company focused on near-term cash flow projects. They have projects in Texas, Kansas, and Chile that are expected to deliver material cash flows in the coming months. Their primary project is in Lavaca County, Texas where recent drilling success at their Hoffer B1 well encountered multiple hydrocarbon zones and will undergo production testing. If successful, Hoffer B1 could lead to multi-well development and transformational cash flows for the company given the large surrounding prospect area. Galilee also has projects in Southern Kansas and a coal seam gas exploration agreement in Chile with state oil company ENAP that represents significant potential.
2014 Enbridge Day - Gas Pipelines and ProcessingEnbridge Inc.
The document discusses opportunities for growth in Enbridge's Gas Pipelines & Processing business. It notes that significant investment will be required over the next 15 years to develop North American gas infrastructure as production increases. Enbridge's assets are well-positioned to capture opportunities from growing gas and liquids production in regions like the Western Canada Sedimentary Basin and U.S. shale plays. The company plans to pursue both expansions of existing assets and new greenfield projects to maximize profits and leverage its operational strengths.
Half yearly results for the six months to June 2013Company Spotlight
- Premier reported continuing record profits and growing cash flow in the first half of 2013. Key projects like Catcher, Bream and Sea Lion are progressing.
- 6 out of 7 exploration wells drilled so far in 2013 were successful, adding over 650 million barrels of net unrisked resources to Premier's portfolio.
- Premier is progressing development projects in the North Sea like Solan and Huntington, and exploring opportunities in its international portfolio in areas like Indonesia, Pakistan, Vietnam and offshore Kenya.
Falkland Oil and Gas Limited is solely focused on oil and gas exploration in the Falkland Islands. It holds the largest exploration license portfolio and is the only company operating in both the North and South basins. It has an active drilling program planned to start in Q1 2015, with a rig contracted to drill 5 wells. The program is fully funded and targets high-impact opportunities in the South and East Falkland basins as well as lower risk prospects in the North Falkland basin.
Gassco - Future Gas Export from the Norwegian Continental Shelf - Thor Otto L...Innovation Norway
This document discusses future gas export from Norway's continental shelf and provides context on the Norwegian gas transportation system. It notes that while production from existing fields is expected to decline after 2020, new discoveries have been made that could extend gas resources. However, developing these new resources located further north will require new gas transportation infrastructure due to the long distances from existing infrastructure. Norway has started evaluating potential transportation solutions through the Barents Sea Gas Infrastructure Forum to enable monetization of gas resources in the Barents Sea.
Altima Resources Ltd is a junior energy company engaged in the exploration and development of petroleum and natural gas in Western Canada. It is the Company’s intent to focus on new long life petroleum and natural gas prospects in select core areas and grow its reserve base through drilling.
Statoil at OTC 2014 - The Power of PossibleStatoil
The document discusses Statoil's approach to increasing oil recovery and developing fields by imagining what could be possible through innovative technologies and strategies. It provides four examples:
1) The Troll field in Norway, where developing multi-lateral and branched wells allowed recovery from a previously uneconomic thin oil zone.
2) The Johan Sverdrup field in Norway, a large discovery that will be developed using proven technologies over 50 years.
3) The Peregrino field in Brazil, where increased recovery of 10 times the initial value was achieved through horizontal wells, reservoir management, and heavy oil processing.
4) The Bay du Nord discovery in Canada, which could open a new
- Premier reported strong 2013 annual results with cash flows of $833 million, up from $808 million in 2012. Cash on hand was $449 million.
- Production for 2013 was 57.7 thousand barrels of oil equivalent per day, up from 58.2 thousand in 2012.
- Six discoveries were made from seven exploration wells drilled in 2013, adding 40 million barrels of oil equivalent of resources.
- The company will focus investments on high-return projects while maintaining a strong balance sheet and reducing capital exposure to the Sea Lion project off the Falkland Islands.
This document provides an emergency response and disaster management plan for Essar Oil Limited. It outlines the organization's emergency response structure and procedures for various incident levels. It details Essar's oil spill response capabilities and equipment. It also describes emergency scenarios covered, communication protocols, and the roles and responsibilities of key emergency response positions. Regular mock drills are conducted to test and improve the emergency response plans.
This document summarizes Guy Jarvis' presentation on Enbridge's liquids pipelines business. The key points are:
1) Enbridge has safely transported over 14 billion barrels of liquids over the past 10 years and is focused on further improving safety and operational reliability.
2) Through secured growth projects and system optimization efforts, Enbridge is on track to increase market access and available pipeline capacity to meet growing Canadian production volumes.
3) Enbridge's large integrated asset portfolio and development pipeline provide continued opportunities to expand its network and services across Western Canada, the U.S. Gulf Coast, and other key markets.
The revival and transformation of Europe’s largest onshore oilfield; the Pato...Albania Energy Association
Presentation: The revival and transformation of Europe’s largest onshore oilfield; the Patos-Marinza field
Leonidha Çobo, General Manager, Bankers Petroleum Albania Ltd
Maersk Drilling reported strong financial results for 2013, with profits increasing from USD 347M in 2012 to USD 528M in 2013. Operational uptime also increased, from 92% in 2012 to 97% in 2013. For 2014, Maersk Drilling expects results to be below 2013 due to planned rig maintenance and start-up costs for new rigs. Maersk Drilling secured several new contracts in 2013 and has high contract coverage for 2014-2016, with a revenue backlog of USD 7.9B. The company continues expanding through its newbuild program but some rig deliveries will be delayed 2-4 months. Maersk Drilling's priorities for 2014 include successful rig deliveries and maintenance
Teekay Tankers reported strong financial results in Q4-2015 compared to Q4-2014. The company generated adjusted net income of $48.5 million versus $18.6 million in the prior year quarter. Free cash flow increased to $74.0 million from $31.7 million. Looking ahead, tanker demand fundamentals are expected to remain strong in 2016, driven by oil demand growth and fleet utilization. The company recently acquired vessels and expanded its presence in the US Gulf to capitalize on growing oil trade in the region.
Forsys Metals is a uranium mining company advancing its Norasa project in Namibia. The presentation provides an overview of Forsys and the Norasa project, including its large resource base, positive economics from pre-feasibility studies, and fully permitted status. Forsys has an experienced management team and is well positioned to capitalize on an improving uranium market with production planned for 2016.
North American Palladium operates the Lac des Iles mine in Ontario, Canada, one of only two primary palladium mines in the world. The presentation outlines NAP's investment proposition including existing infrastructure with excess capacity, increasing production and decreasing costs, and significant exploration potential. It provides guidance for 2015 including payable palladium production of 185,000 to 205,000 ounces at a cash cost of $440 to $466 per ounce.
Opening Global Markets to Booming U.S. Shale Gas and NGL ProductionICF
The document summarizes a presentation given by Vinson & Elkins and ICF International on opening global markets to booming U.S. shale gas and natural gas liquid (NGL) production. It discusses trends in U.S. production of natural gas, NGLs, and oil. It also examines infrastructure needs and investments to transport these commodities through pipelines and export terminals to domestic and international markets. Regulatory and contractual considerations for gathering, processing, transporting, and exporting natural gas and NGLs are reviewed.
UNX Energy Corp. holds exploration rights to over 51,000 km2 of land in Namibia that is highly prospective for oil and gas discoveries. The company's key block, 2713A, contains a large potential trap that could hold over 2 billion barrels of oil based on an independent assessment. Successful wells near UNX's blocks indicate the presence of source rock and reservoirs in the area. With a planned 3D seismic survey and pursuit of farm-out partners, UNX aims to de-risk its prospects and potentially drill an exploratory well in 2011. The company is led by an experienced management team with significant international oil and gas expertise.
Anthony Patrick Haynes is a British mechanical engineer and businessman who has over 40 years of experience in the oil and gas industry, holding senior positions at various consulting firms and advising major companies on projects around the world. His career highlights include developing offshore production technologies, negotiating contracts and tax exemptions, and advising governments on energy development strategies. He holds patents for several oilfield and marine technologies.
UNX Energy Corp. holds exploration rights to over 51,000 km2 of land in Namibia that is highly prospective for oil and gas discoveries. The presentation highlights UNX's key blocks and recent exploration results that indicate the presence of a working petroleum system. UNX's largest block, 2713A, contains a best estimate of over 2 billion barrels of oil equivalent in prospective resources. The company plans to pursue farm-out partners and acquire 3D seismic data to de-risk prospects and plans to drill an exploratory well in 2011. UNX is led by an experienced management team with expertise in international oil and gas exploration and development.
Rowan is a leading offshore contract driller with a proven operational and safety track record. It has a fleet of four drillships and 23 jack-ups deployed globally. Rowan is well positioned through its partnership with Saudi Aramco, which provides visible earnings growth over the next 15+ years. Rowan has quality, high-specification assets and a focus on demanding drilling applications. It also has a sustainable capital structure with a strong balance sheet and liquidity to navigate the current market challenges. As market conditions improve, Rowan's assets are expected to see higher utilization due to their specifications being well-suited for customer demand.
Erhc south africa conference october 2013 finalDan Keeney
ERHC Energy is a small independent oil and gas exploration company pursuing opportunities in sub-Saharan Africa. The company acquires early stage exploration assets with low entry costs and works to increase their value through geological and geophysical work. While exploration involves high risks, the business model aims to sell assets or the entire company at a significant profit once prospects are proven. ERHC has acquired new exploration blocks in Kenya, Chad, and São Tomé and Príncipe and is seeking partners to help develop the areas and validate their potential through drilling. Success could result in large valuation increases as seen with other African discoveries, though monetization is not guaranteed given the uncertainties of exploration.
Nemaska Lithium Corporate Presentation Jan 04 2016 FINALVictor Cantore
Nemaska Lithium is developing a lithium project in Quebec, Canada to capitalize on growing demand for lithium. Key points:
- Lithium demand is expected to outstrip supply by 2021 due to growth in lithium-ion batteries. Nemaska's project would help address this shortage.
- Nemaska has a large, high-grade lithium deposit and plans to produce lithium hydroxide and carbonate using a proprietary process. Production costs are expected to be competitive.
- A feasibility study showed strong economics for the project, with an after-tax IRR of 21% and NPV of $412 million using an 8% discount rate.
-
A Unique Opportunity: Quebec’s Plan NordNow Dentons
This document provides an overview of Quebec's Plan Nord, a major economic development initiative for the northern region of the province. The key points are:
1) Plan Nord encompasses 1.2 million square kilometers north of the 49th parallel, accounting for 72% of Quebec's land mass but only 2% of its population.
2) Quebec has extensive experience
Presentation Clayton Valley, NevadaFrom Drilling to PEA in under 2 YearsCompany Spotlight
The document summarizes Cypress Development Corp's Clayton Valley lithium project in Nevada. Key points include:
- A Preliminary Economic Assessment shows promising economics including a 32.7% IRR and $1.45 billion NPV.
- Measured and indicated resources total 8.9 million tonnes LCE with additional inferred resources.
- The project has the potential for low-cost production due to favorable geology and metallurgy.
- Upcoming catalysts in 2019 include a metallurgical study and prefeasibility study to further de-risk the project.
Aben Resources has made a new high-grade gold discovery at its flagship Forrest Kerr project in BC's Golden Triangle region. The region is known for major gold deposits and saw $100 million in exploration spending in 2017. Recent improvements have made the Forrest Kerr project more accessible via new roads. Aben's technical team has reinterpreted historical data and identified additional exploration targets. The project covers over 23,000 hectares of prospective geology along the Forrest Kerr fault zone that is similar to other major deposits in the Golden Triangle.
Aben Resources has discovered high-grade gold zones at its Forrest Kerr project in British Columbia's Golden Triangle. The first hole of the 2018 drill program intersected four separate high-grade gold zones within 190 metres, including 331.0 g/t Au over 1.0 metre. Aben plans to expand drilling at the Boundary North Zone and test other gold anomalies identified through soil sampling. The company also holds the Justin project in Yukon and Chico project in Saskatchewan near recent discoveries.
Cypress Development Corp. owns lithium claims in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. A preliminary economic assessment found the project could have a 32.7% IRR and $1.45 billion NPV. The project would extract lithium from claystone using leaching and have average annual production of 24,042 tonnes of lithium carbonate over 40 years. Capital costs are estimated at $482 million to build a 15,000 tonne per day operation.
The document discusses Aben Resources Ltd., a gold exploration company with projects in British Columbia's Golden Triangle region and other areas of Western Canada. It provides an overview of Aben's management team and directors, flagship Forrest Kerr project, recent drilling results showing new high-grade gold discoveries, and its strategy to advance exploration through 2018. The document also briefly outlines Aben's other projects including the Chico gold project in Saskatchewan and Justin gold project in Yukon.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters thick. A maiden resource estimate calculated 3.287 million tonnes of lithium carbonate equivalent in the indicated category and 2.916 million tonnes LCE in inferred. Metallurgical tests show the claystone is acid leachable and able to recover over 80% of the lithium. Cypress plans additional drilling, engineering studies, and permitting to advance the project towards production.
- Aben Resources has three highly prospective gold projects in Western Canada including its flagship Forrest Kerr Project in BC's Golden Triangle region, which had recent drilling success expanding the Boundary North Zone.
- Management has over 100 years of combined experience in Western Canada and a proven track record of success.
- The projects have significant historic work identifying high-grade gold and robust discovery potential remains.
Cypress Development Corp. owns the Clayton Valley lithium project in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging 921 ppm Li over 77 meters. A maiden resource estimate classified over 1.3 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is leachable with over 80% lithium recovery. Cypress aims to advance the project with engineering studies and further drilling to define resources with the goal of becoming a domestic lithium producer for the growing battery market.
The document provides forward-looking statements and discusses risks associated with such statements. It notes that some statements may be deemed forward-looking and lists factors that could cause actual results to differ from forward-looking statements. The document also identifies the qualified person for the technical information as Cornell McDowell and provides Aben's trading symbols and recent share information.
The document provides an overview of Aben Resources Ltd., a mineral exploration company with gold projects in Western Canada. It summarizes Aben's three key projects - Forrest Kerr in BC's Golden Triangle region with recent drill results discovering the Boundary Zone, Chico in Saskatchewan near producing mines, and Justin in Yukon's White Gold district. It outlines the management team's expertise and provides company details like shares outstanding and trading symbols.
- Cypress Development Corp owns the Clayton Valley lithium project in Nevada located near Albemarle's Silver Peak lithium brine operation.
- Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes drilled.
- Metallurgical tests show the claystone is acid leachable with over 80% lithium extraction possible.
- Cypress aims to define a resource estimate in 2018 and advance the project with feasibility studies to develop a lithium operation.
The document discusses forward-looking statements and provides disclaimers about them. It introduces the qualified person for the technical information presented. It also lists Aben's trading symbols and recent share information including price and market capitalization.
1) Cypress Development Corp owns the Clayton Valley lithium project located next to Albemarle's Silver Peak mine in Nevada. Drilling in 2017 intersected lithium-bearing claystone averaging over 900 ppm Li to a depth of over 100 meters.
2) A maiden resource estimate classified over 1.5 million tonnes of lithium carbonate equivalent as indicated and inferred. Metallurgical testing shows the claystone is acid leachable to extract over 80% of the lithium.
3) The project is located in a strategic location to supply the growing lithium-ion battery market in the US, with lithium demand accelerating due to the increased production of electric vehicles globally.
TerraX Minerals is a Canadian mineral exploration company focused on exploring and developing its 100% owned 772 square km Yellowknife City Gold project located adjacent to the city of Yellowknife, Northwest Territories. The project covers high-grade Archean gold districts and has had multiple high-grade gold discoveries. TerraX has a strong management team with experience discovering and developing gold deposits and low exploration costs due to the project's excellent infrastructure and year-round access near Yellowknife.
This document discusses forward-looking statements and provides information about Aben Resources Ltd., including its stock symbols, shares outstanding, recent share price, market capitalization, and three gold exploration projects in Western Canada. It summarizes the management team's experience and the company's investment highlights. Specifically, it owns the Forrest Kerr gold project in British Columbia's Golden Triangle region, which saw successful drilling results in 2017 that led to a new discovery called the North Boundary zone.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. Drilling in 2017 encountered lithium mineralization averaging 921 ppm Li over 77 meters in 14 holes. Metallurgical tests show the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, process engineering, and a preliminary economic assessment in 2018 to advance the project. The company sees potential for the project given growing lithium demand from electric vehicles and batteries.
TerraX Minerals is a Canadian mineral exploration company focused on exploring its 100% owned 772 square km Yellowknife City Gold project located near Yellowknife, Northwest Territories. The project covers high-grade Archean gold districts with known deposits and past producers. TerraX has made multiple high-grade gold discoveries on the property and identified several high-priority targets for further exploration and drilling. The company has a strong management team with experience discovering and developing deposits in the region.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada that have the potential to be a significant lithium resource. Drilling in 2017 encountered mineralization averaging 921 ppm lithium over 77 meters thick in 14 drill holes. Metallurgical testing shows the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, metallurgical testing, and a preliminary economic assessment in 2018 to further define the resource potential.
Cypress Development Corp owns lithium claystone deposits in Clayton Valley, Nevada near Albemarle's Silver Peak lithium mine. Drilling in 2017 encountered mineralization averaging 921 ppm lithium over 77 meters thick in 14 drill holes. Metallurgical tests show the claystone is acid leachable with up to 80% lithium extraction. Cypress plans additional drilling, metallurgical testing, and a preliminary economic assessment in 2018 to evaluate the project's potential.
Cypress Development Corp is exploring for lithium resources in Clayton Valley, Nevada. Recent drilling has encountered lithium-bearing claystone up to 112 meters below surface, with grades averaging over 800 ppm lithium. Metallurgical testing indicates 80% of the lithium can be extracted using a weak sulfuric acid solution. Cypress plans additional drilling in 2018 and expects to publish a initial lithium resource estimate in Q1 2018 to advance the project towards a preliminary economic assessment. The project is located near existing lithium production and infrastructure to be a potential new supply of lithium for the growing battery market.
Foodgasm Restaurant & Bar: A Vegetarian Oasis Where Flavor Explodes
Foodgasm Restaurant & Bar isn't your average vegetarian joint. We're a vibrant hub where innovative vegetarian cuisine meets a lively atmosphere, creating an unforgettable dining experience.
The Matatag Curriculum of the Philippines for the School Year 2024-2025
The Matatag Curriculum is designed to strengthen and enhance the educational system in the Philippines, aiming to address existing challenges and better prepare students for the future. "Matatag" means "strong" or "resilient" in Filipino, reflecting the curriculum's focus on building a solid and adaptable foundation for students.
The curriculum is structured for elementary (Grades 1-6), junior high (Grades 7-10), and senior high school (Grades 11-12) levels, with a focus on foundational skills, specialized tracks, and real-world learning experiences. Overseen by the Department of Education (DepEd), the Matatag Curriculum aims to improve academic performance, equip students with 21st-century skills, and foster responsible citizenship.
The Matatag Curriculum of the Philippines for the School Year 2024-2025 focuses on strengthening and enhancing the educational system with the following key features:
Holistic Development: Addresses intellectual, emotional, social, and physical growth.
Learner-Centered Approach: Promotes active learning, critical thinking, and problem-solving skills.
Revised Content and Competencies: Updates subject matter to align with global standards.
Technology Integration: Incorporates digital literacy and technology in education.
Sustainability and Global Citizenship: Introduces environmental sustainability and responsible citizenship concepts.
Indigenous Knowledge and Culture: Integrates and respects indigenous practices.
Teacher Training and Development: Provides continuous professional development for educators.
Assessment and Evaluation: Utilizes various assessment methods to measure student progress.
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Family/Indoor Entertainment Centers Market: Regulation and Compliance UpdatesAishwaryaDoiphode3
The global family/indoor entertainment centers market is valued at US$ 41 Bn in 2022 and is projected to exhibit growth at a CAGR of 12.2% and reach US$ 130 Bn by the end of 2032.
Easy Approval Same Day Emergency Cash Loans for Urgent SituationsEiLoan
Facing an urgent financial situation? Our same day emergency cash loans offer easy approval and quick funding. Apply online and receive the money you need the same day to address any unexpected expense.
Patrick Dwyer resides in Miami, Florida where he proudly founded the Dwyer Family Foundation. Formerly with Merrill Lynch, Patrick has a long, successful career as a wealth advisor for high-net-worth clients. He currently works for Boston Private, and he gives his time to a number of charitable organizations including Telluride Science Research Center and Key Biscayne Community Foundation. He received his MBA at the University of Miami.
Innovation Hub_ Spotlight on Toms River's Role as a Beacon for Entrepreneuria...Philip M Caputo
As explained by Philip M Caputo, Tom's River New Jersey, is rapidly emerging as a vibrant hub of innovation and entrepreneurship. With its strategic location, supportive community, and rich history of resilience, this town is transforming into a beacon for entrepreneurial endeavors. Toms River fosters a dynamic environment where ideas flourish, and businesses thrive, from tech startups to creative enterprises.
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...Newman George Leech
Understand the profound impact Newman George Leech has had on the Swiss real estate sector, managing €500 million in assets, while operating from the United Kingdom.
تأسست مجموعة العرجاني عام 2010 لتكون داعمللاقتصاد المصري بمختلف مجالاته على سبيل المثال لا الحصر الاستيراد والتصدير والخدمات اللوجيستية والتطوير العقاري والتشييد والبناء والنقل والتنمية الزراعية والخرسانة الجاهزة.
أهم شركات مجموعة العرجاني :
شركة أبناء سيناء للتجارة والمقاولات: تعمل في مشاريع البنية التحتية والتجارة في أفريقيا والشرق الأوسط.
شركة أبناء سيناء للبناء والتشييد: متخصصة في البناء وتوظيف فرق عمل متميزة.
شركة مصر سيناء: تركز على استصلاح الأراضي وتعدين الرخام.
شركة NRD: تطور تقنيات بناء جديدة تناسب الظروف البيئية.
شركة إيتوس: متخصصة في الحراسة والأمن.
مؤسسة سيناء للخير: تهدف لدعم المجتمع من خلال المشاريع الخيرية.
شركة أورجاني للتطوير: تعمل في التطوير العقاري وإدارة الفنادق.
شركة إيجي ميكس: تنتج الخرسانة الجاهزة.
Andrew Wilmot- Ecentric Payment Systems: Macro Trends Shaping Payments in Afr...itnewsafrica
Andrew Wilmot, Customer Experience Executive at Ecentric Payment Systems on Macro Trends Shaping Payments in Africa - the Next 10 Years at Digital Finance Africa 2024 conference.
Initial Resource Estimate:
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The initial resource estimate on the high-grade silver “Waterpump Creek” zone of our 100% owned carbonate replacement deposit (CRD) was published in February 2024.
Our intact mineral system encompasses the past producing Illinois Creek gold-silver mine, the Waterpump Creek deposit, and the Honker gold prospect, which make up the CRD system in focus. 25 kilometers northeast of the Illinois Creek CRD are the Round Top copper and the TG North CRD prospects. All prospects were originally discovered by Anaconda Minerals Co. in the 1980's. Since 2010, WAM reassembled the Anaconda land package and has been actively exploring the district. WAM’s 100% owned claims cover 73,120 acres (114.25 square miles).
WAM brings together a team of seasoned professionals. Our strategic approach is underpinned by innovative exploration techniques and a deep understanding of the geological intricacies of the region.
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...Aggregage
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The challenge of delivering the right product at the right time while aligning with strategic objectives is more pressing than ever. Product management is evolving and gaining greater recognition as the means to creating this connection.
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A Complete Guide of Dubai Freelance Visa and Permit in 2024Dubiz
Dubai warmly welcomes professionals from every field, including freelancers. The city’s strong economy provides a fertile ground for freelancers to thrive and succeed. With the rise of digitalization and changes in employment trends, many people are choosing freelance careers for the independence and flexibility they offer. And where better to start your freelancing journey than in Dubai? However, to begin your journey, you will first need to get a freelance permit and a freelance visa Dubai.
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2. Falkland Islands’ office fire evacuation
IF YOU DISCOVER A FIRE:
• Operate the fire alarm by breaking the glass of the nearest
call point. Call points are located at each exit door.
• Leave the building by the nearest available Fire Exit and
proceed to the assembly point on ELIZABETH BRIDGE.
ON HEARING THE ALARM:
• The Evacuation signal is a continuous high-pitched siren.
• Close windows in your immediate vicinity.
• Leave the building by the nearest available fire exit closing
fire doors behind you.
• Proceed to the assembly area at ELIZABETH BRIDGE.
• DO NOT ATTEMPT TO USE THE LIFTS (FOR SAFETY
THESE ARE NOT AVAILABLE FOR NORMAL USE WHEN
THE ALARM OPERATES).
• DO NOT STOP TO COLLECT PERSONAL
BELONGINGS.
• DO NOT RE-ENTER THE BUILDING UNTIL
INSTRUCTED BY THE EMERGENCY SERVICES
VIA THE CO-ORDINATING FIRE MARSHAL.
6th February 2014 // Page 1
3. Forward looking statements
This presentation may contain forward-looking statements and information that
both represents management's current expectations or beliefs concerning future
events and are subject to known and unknown risks and uncertainties.
A number of factors could cause actual results, performance or events to differ
materially from those expressed or implied by these forward-looking statements.
6th February 2014 // Page 2
4. Introduction
“...our strategy is to invest in high-quality developments whilst
maintaining balance sheet strength...”
Premier Today
Going Forward
• Robust cash flow and profitability
The Board will:
• 800 mmboe reserves and resources
• Give priority to balance sheet strength
• Production of 66 kboepd (January 2014)
• Focus investments on our highest return
projects
• Key exploration campaigns in
Indonesia, Norway and Falklands
• NAV >£5 per share (broker consensus)
6th February 2014 // Page 3
• Reduce capital exposure to the Sea Lion
project
6. Robust balance sheet
and funding position
• Current net debt of $1.45 bn
– Gearing of 41%, well within Board guidelines
• Significant headroom on financial covenants today and going forward
– Cash flow cover at 2x (covenant of <3x)
– Interest cover at 8x (covenant of >4x)
• Excellent access to debt markets
– $700 m raised in Q4 2013 on competitive terms
– Maturities extended (2017 – 2022)
– Zero drawings on existing principal bank facility
• Continuing strong market appetite from debt investors
– Anticipate attractive terms for re-financing during 2014
– Reverse enquiry from investors on MTN programme
– Initial favourable indications from export credit funding markets
6th February 2014 // Page 5
7. Significant cash flow growth
Financial Outlook
Cash Flows (Current Oil Prices)
• 2014 guidance 58-63 kboepd
– Positive start to 2014 production
– Changing mix generates higher
cash flows
• Solan, Catcher fields
– Add up to 30,000 bopd of valuable
UK barrels
– Value per barrel continues to rise
• UK production growth monetises high
value UK tax loss position
– Unlikely to pay UK CT until end of
decade
6th February 2014 // Page 6
2013
2014
Post Solan Post Catcher
8. Portfolio optionality
Prudent Financial Management
Significant Flexibility
• Planning case $85/bbl
• Current oil price $105/bbl
• Active disposal programme
• Active disposal programme continues
• Will seek partner for Sea Lion
• Will seek partner for Sea Lion
• Production base line of 75 kboepd
• Substantial capacity for:
• Future discretion on exploration and
unsanctioned projects (eg Bream)
– Debt reduction, or
• >US$1 bn covenant headroom
– Incremental investment in quality
projects
• Gearing in line with current levels
6th February 2014 // Page 7
– Enhanced shareholder
distributions, or
10. Catcher development overview
• Project Sanction
– Pre-tax IRR >20% based on $85/bbl
• Gross reserves (2P) of 92 mmboe within initial development
– Upside of 140 mmboe
• Excellent reservoir qualities
– 35% porosity and very high permeabilities
• Fully defined development scheme
– Leased Floating Production Storage and Offloading (FPSO) model
– Subsea tie-backs of the Catcher, Varadero and Burgman fields to FPSO
– Expected to produce at peak ~50,000 bopd (~6% of the entire UKCS production)
– $2.2 bn gross Capex including ~30% of allowances and contingencies
– Development drilling of 14 producing wells and 8 water injector wells commencing 2015
• First oil in 2017 and an expected life of field of 10+ years
6th February 2014 // Page 9
11. New North Sea hub
• Location: Block 28/9
• Water depth: 300 feet
• 3 fields as part of initial development
• 22 wells to be drilled
Catcher area discoveries:
• Catcher
August 2010
• Varadero
January 2011
• Burgman
March 2011
• Carnaby
June 2012
• Bonneville
April 2013
Block 28/9
Premier (Op.)
Wintershall
20.0%
Cairn Energy
6th February 2014 // Page 10
50.0%
30.0%
12. Exploration and appraisal success
Varadero
Catcher
Burgman
• All exploration and appraisal
wells encountered hydrocarbon
bearing sands:
– Tay sands in 28/9-1Z, -3, -2,
-4, -4Z, -5A, -6 and -6Z (all
fields)
– Cromarty sands in 28/9-1,
-1Y and -3 (Catcher only)
STOIIP
Oil
Reserves
RF%
Catcher
129
38.6
30
Oil
Varadero
77
21.7
28
Gas
Burgman
86
23.3
27
Catcher Area
289
83.6
29
Field
Determination
Area
Carnaby
Bonneville
Field
Licence
NB Bonneville extends further south,
map limited by HD data extent
6th February 2014 // Page 11
13. Good understanding of the rocks
Region of deposition of original
Cromarty and Tay sands
Joseph C. DeVay et al, 2000,
AAPG Memoir 72 / SEPM Special Publication No. 68
• Late Palaeocene/early Eocene turbidite sand systems
Tay
Cromarty
6th February 2014 // Page 12
• High porosity (~35%) and permeability (Darcy
permeabilities) sands deposited in Cromarty and
Tay intervals
• Post depositional re-mobilisation and injection of
sands, leading to high degree of vertical connectivity
14. Seismic will assist with well placement
Catcher Cromarty
Catcher East (Tay)
GOC
Balder
OWC
Catcher
Cromarty
Chalk
Polarcus HD seismic (far stack coloured inversion)
• Excellent quality seismic imaging at the reservoir level due to shallow depths
and simple overburden
• High quality, fine line spacing (high density) seismic was shot in 2011
• Oil-filled sands in the Tay and Cromarty have AVO response and are clearly
identifiable
6th February 2014 // Page 13
Catcher
East (Tay)
17. Reservoir depletion optimised
Oil pore volume thickness map
VI3
VP3
CTP7
CCP5
CTI1
VP4
CCP3
VI2
VI1
VP2
CCI2
VP1
CTP1
CCP6
BP2
BP1
BI3
BI2
BP4
BI1
BP3
BP5
6th February 2014 // Page 16
Producers
Injectors
• 22 well development including 14
producers and 8 injectors
• Wells target thickest oil sands to
maximise rate and recovery
• Wells positioned to allow
effective sweep
• Two phases of drilling on each
field allows:
– Optimisation of production
profile
– Learnings from drilling shorter
wells to be applied to later
longer wells
18. Rig and well systems contracts awarded
• Wells drilled over six - 4 slot templates from a
Heavy Duty Jack-Up
• Subsea well system with HP riser
• Subsea trees run from Jack-Up (similar to
Huntington development)
• Ability to workover wells with an intervention
vessel, Jack-Up or Semi-Submersible
6th February 2014 // Page 17
19. FPSO build
• Concluded a highly competitive tender process
– 3 international companies
– Re-fit versus new build
• Formal announcement of preferred bidder imminent
• 750,000 bbls oil storage
• Designed for Functional Spec
• 125,000 bpd liquids
– Oil – 60,000 bopd
– Gas – 60 mmscfd
– Sea water injection 75,000 bpd
– Future tie-ins
– Spare risers included in current design
6th February 2014 // Page 18
21. Upside – near field
discoveries and exploration
Exploration (Laverda)
• 25 mmbbls STOIIP
• Low cost tie-back to Catcher development
Catcher North (CTP2 well)
• 2-4 mmbbls reserves
• Possible subsea tie-back or
ERD from Catcher drill centre
Laverda
Catcher
North
(CTP2)
Carnaby (Burgman extension)
• Discovered August 2012 by 28/9-5A
• 28 mmbbls STOIIP
Bonneville
• Discovered April 2013 by 28/9a-6 and -6Z wells
– Drilled at >70 as a “test” for Catcher
• 30 mmbbls STOIIP
Varadero
Catcher
Burgman
Carnaby
Oil
Bonneville
Gas
Licence
Area synergies
• Capacity of the vessel could support other
area discoveries
6th February 2014 // Page 20
NB Bonneville extends further south,
map limited by HD data extent
23. Catcher tax attributes
Bare-boat Charter
• Industry-wide discussions are ongoing with HMT regarding the possible introduction of
taxation on bare-boat charter income
Small Field Allowances
• The Small Field Allowance shelters £150 m taxable profits from the Supplementary Charge
(SCT) saving tax at 32% for each qualifying field with P50 reserves <45 mmbbls
• The Catcher, Burgman and Varadero fields will separately qualify for the Small Field
Allowance, resulting in total gross allowance for the development of £450 m
Tax synergies
• Premier has CT/SCT losses and allowances of $2.4 bn at 31 December 2013
• No UK CT expected to be payable until at least 2019
6th February 2014 // Page 22
24. Major milestones
• Premier’s Board has approved the project
– Formal Sanction on completion of the contracts and receipt of
JV and Government approvals
• The FDP will be submitted to DECC next week
– Environmental Statement already submitted
• All major contracts are near to completion
– In final stages with acceptable Ts&Cs
• Targets and plans in place to deliver upside potential
– Reservoir recovery rates and future tie-backs
• Project team in place and will deliver first oil in the summer of 2017
6th February 2014 // Page 23
26. Falkland Islands
Location
• Situated on the southern part of the
South American Plate on the Falkland
Plateau
• 220km from the Falkland Islands in
the North Falkland Basin
• Water depth 450m
Mid
Atlantic
Ridge
Nazca Plate
Premier Oil
FOGL
Argos
Regulatory environment
• Petroleum legislation modelled on UK
• Falkland Islands Government is
responsible for regulation and has
advice from UK DECC, HSE, BGS
Fiscal terms
• Attractive fiscal terms:
– 26% corporation tax
– 9% royalty
South American Plate
NFB
Falkland Plateau
Falkland
Islands
SFB
Drake
Passage
Antarctic Plate
Falkland Oil and Gas
Noble Energy
Scotia Plate
Borders & Southern
Antarctic
Peninsula
Antarctic Plate
Weddell Sea
6th February 2014 // Page 25
27. Premier’s Falkland Islands portfolio
Licence PL032
• Premier 60%, operator; Rockhopper 40%
• Contains Sea Lion discovery made in 2010, extensively
appraised in 2011
• Chatham exploration prospect
Licence PL004
• Premier 36%, operator; FOGL 40%; Rockhopper 24%
• Contains Casper, Casper South, Beverley
• Exploration includes Zebedee (PL004b), Jayne East (PL004c)
and Isobel/Elaine (PL004a)
Phased Development
• Phase 1 – Sea Lion (PL032)
• Phase 2 – Satellite fields and southern extent of Sea Lion
Exploration Upside
• Four well programme scheduled for 2015
6th February 2014 // Page 26
PL032
PL004b
PL004c
PL004a
28. Sea Lion structural and
depositional setting
PL032
SL30
SL20
SL10
Casper
Casper South
Beverley
Zebedee
Jayne E
Syncline Axis
PL004b
Stratigraphically trapped in overlapping deep water lacustrine fans - younger to the south
6th February 2014 // Page 27
PL004c
30. Dataset and key reservoir
and fluid parameters
Extensive appraisal dataset
• Discovered by well 14/10-2 and appraised by 8 wells (plus 2 sidetracks to core)
• 3D data full stack reflectivity seismic (2007 and 2010, merged in 2011/12)
• Well data
– Extensive suite of high quality well data
– ~500 MDT pressures and samples from all wells (gas, oil and water)
– Extensive core inventory: 455m core
– 2 DSTs: 14/10-5 & 14/10-2; 13 Mini DST’s (IPTT): 14/10-4, 14/10-5, 14/10-6, 14/10-7, 14/10-9, 14/15-4a
Key Parameters
Oil gravity
28 API
Wax content
23% - 35%
Gas/oil ratio
270 – 420 scf/stb
Reservoir oil viscosity
Average porosity
Average permeability
5 – 6 cP
21%
160 mD
Oil-water contact
2476 mSS
Gas-oil contact (seen in Casper & Casper South fans)
2402 mSS
Discovered oil in place (with/without SL20 gas cap)
Discovered free gas in place (with/without SL20 gas cap)
6th February 2014 // Page 29
1.2 / 1.4 billion stb
1.9 / 1.6 Tscf
31. Sea Lion Phase 1 development – TLP
Offtake
Tanker
Floating Storage
& Offloading
Concept Selection Highlights
Permanent Drilling Rig
Minimal Subsea Infrastructure
Phased Development
Improved Economics
Gas Disposal Wells
6th February 2014 // Page 30
Tension Leg
Platform
32. Phase 1 reservoir development plan
• Active waterflood with multiple pore volumes of water
injection over field life (~5 bbl per bbl of oil recoverable)
• 32 development wells
– 19 producers and 11 water injectors
– 2 subsea gas injection wells
– 12 wells pre-drilled
• Recovers 293 mmstb over 25 years
• Assumes a gas cap is present
in the west
– Well scheme will be adjusted
if absent
– 60 mmbbls upside
• Surplus gas will be injected
into gas caps
6th February 2014 // Page 31
33. TLP oil producer well design
Water Injection Wells
• Inclined trajectories
• Cased and perforated
• Hydraulically fractured
• Heated water
• Conventional Gas Lift
• Downhole Wax Inhibitor
• Electrical Tubing Heating
• Horizontal up to 1500 m
• Cemented Liner
• Cased and Perforated
6th February 2014 // Page 32
34. TLP analogues
Sea Lion
(Pre-FEED)
Olympus
(MARS B)
Premier
Shell
Region
S. Atlantic
GoM
WD (ft)
1,372
3,000
Oil (mbpd)
120
100
Gas (mmscfd)
165
180
Manning Level
175-200
192
Slots
32-36
24
Date Installed
TBA
2013
Benchmark Payload (short tons)
45,000
42,200
Displacement (short tons)
118,000
109,000
Hull Weight (short tons)
28,400
35,800
300 x 300
300 x 400
Development Name
Operator
Deck Dimensions (ft)
6th February 2014 // Page 33
Other Analogue TLPs
• Snorre 1992
• Ursa 1998
• Big Foot 2014
36. TLP build
Living Quarters
Topsides Fabrication
and Integration
• U.S.
• Korea
• Singapore
• Dubai
Utility Module
Drilling Module
Process Module
Hull Fabrication
• Korea
• China
• Singapore
• Japan
6th February 2014 // Page 35
Flare Boom
Hull
Survival Craft
Support Structure
38. Operations and logistics
Exploration drilling support model
• Drilling base in Stanley from which supply boats and helicopters support the rig
• Regular freighter supplies from the UK to the drilling base
• Fortnightly charter flight from the UK for personnel on 28/28 rota
• Maximum of circa 100 people offshore
1. Pre-drilling
• Similar model to exploration drilling
• More personnel, more equipment and a bigger onshore drilling base
• Maximum of circa 120 people offshore
2. Production and TLP drilling
• Production base is a relatively small increment to the drilling base
• Maximum of circa 200 people offshore
• Premier will be Duty Holder but supported by two major contractors:
– Production operations contractor;
– Drilling operations contractor
3. Production only
• Much lower level of supply boat activity
• Normally circa 120 people offshore
• Activity peaks during planned maintenance shutdowns
• Revert to Phase 2 during infill drilling and workovers
Planning status
• Discussions underway with potential logistics providers
• Modelling of materials and personnel requirements is under way
• Working operations and logistics cost model has been developed
6th February 2014 // Page 37
39. Design phase milestones
18 month “Design” phase
• Concept Selection to the start of execution (award of the EPC contract(s))
• Award of FEED Contracts in Q2 2014
• Shortlisting of EPC bidders in Q4 2014
– Updated cost estimates available
• Q4 2014 onwards – formalised financing and farm down process
• Submit draft FDP at end 2014
• EPC tenders in Q1 2015
• Sanction in Q2 2015
6th February 2014 // Page 38
40. Phase 1 development costs
Indicative costs subject to FEED
• Surface Facilities Capex
– TLP
– Subsea and risers
– Project management and other costs
$3.5 bn
$2.4 bn
$0.45 bn
$0.65 bn
• Drilling Capex
$1.7 bn
• Total Phase 1 Capex
$5.2 bn
• Spend to first oil
$3.8 bn
• 25 year annual Opex
– Includes FSU rental and well interventions
$260m per year
All numbers are un-escalated $ 2013
6th February 2014 // Page 39
41. Economics and financing
Economics
• Discount of $6.50 to Brent is assumed to account for oil quality and transportation
• Sea Lion Phase 1 yields an IRR of around 20% at an oil price of $85/bbl (real)
Project Funding Strategy
• Corporate funding remains an option
• Given attractive terms, base case assumes construction-related project financing
for 60% of TLP cost
• Reduces pre first oil “equity” requirement to approx. $2.5 bn (gross)
– Illustratively a 30% farm down would reduce Premier’s share to
approx. $1.8 bn
6th February 2014 // Page 40
42. Phase 2 development
Phase 2
• Development of Casper, Casper South
– Plus the southern extent of Sea Lion
• Single manifold subsea tie-back to the TLP
• More detailed development studies underway
• Development plan will incorporate results from exploration
– Could change the scheme to be a second TLP
6th February 2014 // Page 41
43. Further Sea Lion scale opportunities
Lower F2 amplitude extraction
• High quality dataset
F3G amplitude extraction
• Size of exploration prize:
– 1,000 mmbbls prospective
resources
– 250 mmbbls risked
Sea Lion
fan outline
Jayne
East
Zebedee
30km
Orinoco
Elaine- Isobel
6th February 2014 // Page 42
• Four E&A wells to be complete by end
of 2015:
– Upside in Sea Lion west
flank/Chatham
– Development-changing potential in
Zebedee and Jayne East
– Large fan complex – Elaine/Isobel
area
• Rig tenders being evaluated
– Follow-up exploration and appraisal
wells possible through options
44. Zebedee – high impact near field
3D visualisation of Casper South and Zebedee sands
Fan input
• Zebedee prospect
– Onlaps the Sea Lion field
– Onlapped by the Casper South discovery
• Extends the proven SLMC (F2 sequence) play
• Gross prospective resource (F2)
– 28-46-150 mmboe (low risk)
• Multiple reservoir (F1 & F3) also targeted
• Gross prospective resource (F1, F2, F3)
– 28-165-400 mmboe
14/15-4a
Zebedee
(proposed location)
F1
F2
Casper South
discovery
Zebedee
prospect (F2 fan)
F2
Sea Lion
discovery
Casper South
discovery
F3
F3
F3
2 km
6th February 2014 // Page 43
14/15-2
45. Jayne East – high impact near field
Amplitude extraction – F2 lower fan
Jayne East
Zebedee
• Equity increased to 36%, partner equity
interests now aligned and fully funded
• Well to test five potential reservoirs levels
across the F2 and F3 sequences
– Beverly, Casper SE and Zebedee East (F2)
– Jayne East and Ida (F3)
• Gross prospective reserves:
– 14-37-87 mmboe
• Overall risk assessment –
moderate
Jayne East
(proposed location)
– Key risk: updip seal
F2
F3
6th February 2014 // Page 44
46. Isobel/Elaine – another Sea Lion?
• Equity increased to 36%, partner equity
interests now aligned and fully funded
• Stacked targets exclusively within F3 sequence
• Gross prospective resources:
– 7-44-226 mmboe
• Overall risk assessment - moderate
– Key risks: reservoir and updip seal
Single stratigraphic layer within Elaine/Isobel complex
Isobel Deep
A
PL 03
A
PL 05
B
PL 04a
B
Irene
5km
Elaine
Isobel
Isobel Deep
2 km
6th February 2014 // Page 45
51. Subsea – In-field manifolds (3-off)
• Common design for each manifold structure
• 9-slot assemblies (6x production + 3x water injection)
• Slab sided structures with piled foundations (estimated 230 tonnes)
• Fishing friendly
• Incorporates production test header c/w
subsea multiphase flow meter
• All production and water injection
piping fabricated from super duplex
Field
Production
Slots
Water Inject
Slots
Catcher
5
2
Varadero
4
3
Burgman
5
3
6th February 2014 // Page 50
52. Subsea – riser base structures (3-off)
• Similar design for each riser base tie-in structure
• Open sided (estimated weight 100 tonnes)
• Dropped object protection only (i.e. all structures
are located within FPSOs 500m safety zone so
not exposed to fishing)
• Gravity base foundations
• Include SSIVs for production,
gas lift & gas export
riser systems
6th February 2014 // Page 51
53. Subsea – bundle option
• Three similar bundle systems planned for
tie-back of the developments
• Each bundle circa 3.5km in
length, comprising a 38” outer carrier
pipe designed to house the 12”
production, 10” water injection and 4” gas
lift flow-lines plus steel tubed E/H control
and chemical injection lines
• Manifolds and riser-base tie-in structures
integrated into the bundle towheads
6th February 2014 // Page 52
54. Subsea – gas export structure
• Slope sided to resist trawl gear snagging loads and promote over trawl-ability
• Approximate weight of 110 tonnes
• Supports connection of a temporary subsea pig receiver c/w DB&B isolation
• Supports entry of a future tie-in c/w DB&B
• All valves diver / ROV actuated
6th February 2014 // Page 53