Exploration Opportunities in Tanzania: Why Aminex believes in the - - PowerPoint PPT Presentation

AGM PRESENTATION 22nd MAY 2013

Exploration Opportunities in Tanzania: Why Aminex believes in the potential of the Nyuni and Ruvuma PSAs

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• Aminex has been in Tanzania since 2002

when the East African Coastal Margin was

• nly a lightly explored backwater.
• Aminex has drilled 6 wells including 2

commercial discoveries, one of which is developed and ready to produce.

• The Company’s acreage includes (1)
• nshore, (2) shallow water offshore and

(3) deep water offshore environments.

• Since 2010 there have been multiple

world-class deep water gas discoveries in the region, some directly offsetting both of Aminex’s PSA areas.

• Aminex has consistently believed in the

vast potential of the East Africa Coastal Margin which is summarised in this short technical presentation.

Recent published hydrocarbon discoveries, Tanzania and northern Mozambique

Introduction

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

Onshore, Nearshore Successes

• Mafia Basin/Rufiji Delta, Tanzania:
• Songo Songo

(1974)

• Mukuranga

(2006)

• Kiliwani North

(2008)

• Ruvuma Basin, Tanzania and northern

Mozambique:

• Mnazi Bay

(1982)

• Ntorya-1

(2011)

• Sample analyses made available to

Aminex provide information

• n

the potential for oil as well as for gas.

Introduction

Mafia/Rufiji Basin Ruvuma Basin

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• The deepwater exploration success along the East African Coastal Margin

demonstrates the exploration potential that may exist onshore and on the nearshore shelf.

• High quality (3D) seismic in the open marine deepwater environment is the main cause

for recent success.

• Recent improvements in 2D seismic acquisition and processing on the marine shelf and
• nshore confirms the presence of similar traps and their significant but as yet

unexplored and unexploited potential.

Regional Geological Setting and Prospectivity

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• Ntorya, along with most leads within the Ruvuma PSA, and post-Neocomian leads within

Nyuni PSA are part of the same play fairway as the recent deepwater discoveries.

• Historically structural prospects have been drilled along the coastal margin with only limited
• success. With the aid of improved seismic, Aminex is focusing on the significant

stratigraphic potential that can now be imaged and which has proven so successful in the deepwater.

Anadarko, BG & Statoil’s deepwater gas discoveries, 60-103 Tcf. ENI’s deepwater gas discoveries, 27-75 Tcf. Ntorya onshore gas discovery, 1.2 Tcf discovered and undiscovered Mnazi Bay Gas Field, ~830 Bcf Pmean recoverable contingent Late Tertiary uplift in response to East African Rift Kiliwani North gas field, 45 BcfPmean GIIP discovered

Regional Geological Setting and Prospectivity

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

Regional Geological Setting and Prospectivity

• Ntorya, along with most leads within the Ruvuma PSA, and post-Neocomian leads within

Nyuni PSA are part of the same play fairway as the recent deepwater discoveries.

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• Virtually all recent major gas discoveries

have been in the (deepwater) offshore, where most of the recent 2D and 3D seismic has been acquired.

• This is because of the ease of access in
• pen marine deepwater environments for

acquiring high quality seismic with minimal logistic difficulties, and sufficient quality to de-risk prospects prior to drilling.

• Nearshore and onshore is subject to more

complex and costly logistics for alternative methods

• f

appropriate seismic acquisition.

Exploration Progress

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

Exploration Progress

• Most of the Nyuni legacy data (all 2D) has

a limited “maximum offset” of <1,500m.

• The 2005 dataset has a 3,000m maximum
• ffset. Careful reprocessing allows a

major improvement in imaging, to better de-risk prospects prior to drilling.

• Deepwater/open marine 2D and 3D

seismic commonly has a maximum offset

• f 8,000m.

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• Advanced

processing and imaging technologies applied to state-of-the-art 2D and 3D seismic in an unrestricted deepwater marine environment enables much greater confidence in de-risking prospects pre-drill.

• However,

similar acquisition and processing methods cannot be employed in the

• nshore

and nearshore environments.

• Recent work by Aminex on 2D seismic
• nshore and on the marine shelf is

beginning to image detail with confidence but most such prospects remain untested by drilling.

Seismic profile across Block 1, offshore Tanzania, showing intraslope channel plays (from Ophir Energy AGM, June 2012).

SSE NNW

Exploration Progress and Prospectivity

• Most recent discoveries on- and offshore are primarily stratigraphic and not structural.
• Early wells were drilled with limited seismic on simple structural features. Such prospects

include Songo Songo, Mnazi Bay, Latham Island, Nyuni, etc.

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• Songo

Songo-1 in 1974 promoted structural plays and the potential for productive Neocomian-age reservoir sands.

• Albian sands as at Ntorya of good

reservoir quality are stratigraphically controlled - their presence in structural traps is highly variable.

• Previously, stratigraphic complexity has

been hard to image and interpret with confidence on seismic in the absence of well data.

Seismic cross-section across Songo Songo gas field, offshore Tanzania; (structural trap). Seismic cross-section across Ntorya gas discovery, Ruvuma basin, onshore Tanzania; (stratigraphic trap).

Exploration Progress and Prospectivity

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

2D Seismic Dip Line 89MT-10, onshore Northern Ruvuma Basin.

• Previous onshore exploration was focused on

identifying large structural closures and seismic coverage was coarse.

• Limited contractor availability and high costs

did not encourage higher data densities.

• Little

stratigraphic potential could be recognised or de-risked sufficiently to justify drilling.

Upper Cretaceous Lead D as mapped by Texaco, 1992, cf Sudi Lead 2012. (Areal closure of Lead D at Top Cretaceous was estimated at approx. 170.4km2, with 800ft of vertical closure (Texaco 1992). Remapped as Sudi Lead by Aminex in 2012.)

Exploration Progress and Prospectivity

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• The Kiswa and Sudi Base Tertiary channel

complex leads in the Ruvuma PSA are now clearly imaged on reprocessed data.

• They appear analogous to BG/Ophir’s

Jodari Base Tertiary gas discovery (GIIP estimated at ~4.5 Tcf), 25 km to the West in the deepwater.

• Kiswa Lead appears to have a similar multi-

channel complex appearance as Jodari.

Source : Ophir website, Capital Markets presentation, 2012

Kiswa Leads, Offshore Ruvuma PSA

Exploration Progress and Prospectivity

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• The Sudi Lead (onshore

Ruvuma) is part of the same Base Tertiary channel complex as the

• ffshore Kiswa Lead.

(Onshore) (Offshore)

Exploration Progress and Prospectivity

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

Exploration Prospectivity

• Since the success of Aminex’s

Ntorya-1 gas discovery, mapping of the Ruvuma PSA has identified further stratigraphic leads not previously recognised with confidence from available 2D seismic.

• Aminex is planning new 2D seismic

in the Ruvuma PSA to better define and de-risk the stratigraphic potential, as well as to appraise the Ntorya-1 discovery.

Ruvuma PSA: Lead map

• f

mainly stratigraphic leads, identified from seismic post-Ntorya-1 well.

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

Exploration Prospectivity

• Tanzania has signed a $1.2 billion finance

package with the Chinese Export Bank for gas infrastructure which will include:

• 450 km 36” pipeline from Ruvuma

Basin to Dar es Salaam.

• 25 km 24” pipeline from Songo Songo

Island to main pipeline.

• New gas processing plants on Songo

Songo Island, and near Mtwara –

• approx. 30 km from Ntorya-1.
• This pipeline will provide access to market

for both Aminex’s Kiliwani North gas Field and Aminex’s Ntorya-1 gas discovery

• Pipeline project due onstream end 2014.

Tanzanian Coastal Pipeline

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013

• The deepwater acreage in the Nyuni PSA is of potentially significant exploration

interest and 3D seismic is planned for this year.

• New appraisal seismic at Ntorya (Ruvuma) will provide well control and identify

locations for appraisal drilling on the path to commercialisation.

• Ruvuma is a vast licence which contains a number of large leads in addition to the

Ntorya discovery.

• Further seismic at Ruvuma will de-risk these leads to convert them to drillable

prospects.

• With a major new pipeline project under way and strong demand for natural gas,

Ntorya and discoveries at Ruvuma will be important components of Tanzania’s short to medium term energy needs.

• Aminex’s intention is to unlock the prospectivity of the Nyuni and

Ruvuma PSAs.

Summary

Presentation to shareholders, Aminex PLC AGM, Dublin, Ireland, 22nd May 2013 Ntorya-1, Ruvuma PSA, flowing 139 bpd condensate and 20MMcfd on test through a 1” choke, June 2012.