finder exploration - · pdf filefinder exploration riu good oil conference 2 september 2015...

FINDER EXPLORATION

RIU Good Oil Conference 2 September 2015

“New data – more opportunity!!”

Technology

Opportunity

Knowledge People

“FIND OIL AND GAS”

Farmout and drill 3D supported

prospects on the North West Shelf

Vision

New data – more opportunity!!

1. Finder to date

2. Finder onshore - real rocks

3. Finder offshore - new seismic data

4. Summary

North West Shelf - 15 Permits

Ichthys

Brecknock/

Calliance

Petrel

Bayu/Undan

Rankin

Trend

with material participating interests

Poseidon

Torosa

Argus

Gorgon Clio

Port Hedland

Broome

Dampier

Derby

Troughton Is.

Wadeye

Jansz/

Io

Scarborough

Phoenix

Phoenix

Sth

Phoenix

Phoenix

Sth

North West Shelf - 15 Permits

Ichthys

Jansz/

Io

Brecknock/

Calliance

Petrel

Bayu/Undan

Rankin

Trend

with material participating interests

AC/P 45 100%*

WA-500-P 100%*

WA-418-P 35%

WA-59-R 25%

Poseidon

Torosa

Argus

Scarborough

Gorgon Clio

AC/P 55 100%*

WA-468-P 100%*

Port Hedland

Broome

Dampier

Derby

Troughton Is.

Wadeye

WA-412-P 100%*

EP 483 & TP/25 100%*

AC/P 56 100%*

AC/P 52 20%

EP 493 100%*

WA-436-P 30%

WA-435-P 20%

WA-437-P 20%

WA-438-P 30%

Oil Discovery

Gas Discovery

Committed Drilling

Pipeline of Opportunities




Vision


1. Finder to date

2. Finder onshore - real rocks …. and lots of ‘em!!


4. Summary

Phoenix

Phoenix

Sth

EP 493

Ichthys

Jansz/

Io

Brecknock/

Calliance

Petrel

Bayu/Undan

Rankin

Trend

lots and lots of real rocks! (778 metres of core = 6.5 tonnes)

Poseidon

Torosa

Argus

Scarborough

Gorgon Clio

Port Hedland

Broome

Dampier

Derby

Troughton Is.

Wadeye

EP 493 100%*

Committed Drilling

Theia

Theia – EP 493 – Finder 100% Edgar Range-1 McLarty-1

• Liquids rich shale play (Lower Goldwyer or Goldwyer III)

• Permit south of the Buru & Mitsubishi acreage – and their recent Praslin-1 discovery

• Permit between McLarty-1 & Edgar Range-1 wells which both intersected excellent shales

• Initial exploration program focussed on best rocks with great access!

• Accelerated a Permit Year Two well ….. Theia-1 drilled July/August 2015 to 1,645 mRT

• Initial results - validation of the model ….. but a ways to go

Edgar Range-1

McLarty-1

Theia-1 well

location

Theia-1

40,000 worked hours without an injury

• to ensure a safe working environment:

– 94 project inductions;

– 12 weekly HS&E meetings;

– 232 tool box talks;

– 10 hazard hunts;

– 24 inspection audits; and

– 33 emergency exercises

• this focus delivered

– NO injuries

– Six incidents

• 2 recordable environmental –

centrifuge mud spill and 20 litre diesel spill from camp generator

• 2 equipment damage – wireline spool winch + core barrel

• One quality – drill string twist off event; and

• One first aid case – lower back pain from driver of the water cart –

cart removed from service

and while it is about the rocks – HS&E performance is critical

Broome

Goldwyer III depositional model Goldwyer III potential

Limited or no unconventional

potential in Goldwyer III

Significant unconventional

potential in Goldwyer III

Goldwyer III potential unknown

(not enough well data)

Lagoon / sheltered from winds

with little or no faulting

Leo-1

Great

Sandy-1

Calamia-1

Willara-1

Parda-1

Goldwyer-1

Aquila-1

Hedonia-1

Thangoo-1A

Pictor-1

McLarty-1

Looma-1

Kanak-1

Fruitcake-1

Missing-1

Crystal Creek-1

Matches Springs-1

Hilltop-1

Cyrene-1

Fault controlled offshore

islands/shallow barrier bars

Epeiric sea with open oceanic

circulation

Twin Buttes-1

Complex faulting to

surface

-> pressure release

Pictor-1 normal

pressure

(complex faulting->

pressure release)

1,500 mGL

base GIII

depth contour

Sharon Ann-1

Lagoon / sheltered from winds

with post-Goldwyer III faulting

Canopus-1

Edgar Range-1

Wind induced

oceanic current

direction

Mid. Ordovician

prevailing wind conditions

EP 493 Theia-1

base map is a residual

reduced to pole of the

aeromagnetic data

depositional environments

Sunshine-1

Lovells Pocket-1

Robert-1

Goldwyer model – appears validated

• Rocks ca. 460 million years old and in August ‘15 these were in the ground!


• Hydrocarbon generation - fluorescence in cores shows

maturity with hydrocarbon odour and gas haze



• Hydrocarbon generation - fluorescence in cores shows

maturity with hydrocarbon odour and gas haze

• Goldwyer III - ~120 metres thick

• two thick rich intervals of ~60 metres - supported

by increased resistivity and high wet mud gas readings

• with indications of overpressure

• initial wellsite gas desorption data comments -

“results are some of the best seen from McArthur,

Beetaloo and up there with some of the best Cooper wells”!!

• plus an interpreted geothermal gradient in the oil window

• but more to do ….. ie confirm

• TOC, thermal maturity and GOR

• shale poro/perm and mineralogy

• geomechanics

• potential resource capacity (scf/bbls per tonne)

1,200

1,300

1,400

1,500

1,600

Goldwyer I


1,645

Goldwyer III

Dampier Downs unsealed road 140 km

from Great Northern Highway

(+50 km to Broome)

• Theia-1 drilled in

July/August 2015

• 140 km Dampier Downs

road upgraded

• 3.5 km access track

upgraded along existing

seismic line to well pad

• Great access going

forward - only minor

seasonal road upgrades

required

• Well pad & camp cleared

Great access – easier to commercialise

EP 493

Theia-1 well location

Finder Shale – valuation first steps

Trendology

• Regional geology

• Old logs, seismic

Undeveloped

• Logs, seismic

• Oil and gas shows

• Tests

Appraisal

• Successful tests

• Prod. from horizontals

• Modern frac. stimulations

Developed

• Production history

• 100s of wells drilled

US$15 – 50/ acre

• Lierle Leasing Report (U.S.)

• International Exploration

License applications

US$50 – 1,000/ acre

• Americas Petrogas/Exxon

(Argentina)

• Drillsearch/BG Group

(Australia)

• Lane/Conoco (Poland)

• Beach/Adelaide Energy

(Cooper Basin)

US$1,000 – 6,000/ acre

• Consol/Hess (Utica Shale)

• Hillcorp/KKR (Eagle Ford)

US$5,000 - 30,000/ acre

• Consol/Noble Energy (Marcellus)

• Chesapeake/BHP (Fayetteville)

• Reliance/Atlas (Marcellus)

• Hillcorp Holdings/Marathon

Eagle Ford)

modified after Falcon Oil and Gas Ltd (Sept 2012)

Value proposition of early entry

in unconventional shale plays

mostly North American examples

US$10-

US$12

EP 493

pre-Theia-1

??




Vision


1. Finder to date



• Bedout

• State Waters

• WA-500-P

• AC/P 55

4. Summary

40% and Operator

20%

20%

20%

Phoenix

Phoenix

Sth Rankin

Trend Jansz/

Io

Scarborough

Phoenix South oil discovery - WA-435-P

Ichthys

Brecknock/

Calliance

Petrel

Bayu/Undan

Poseidon

Torosa

Argus

Gorgon Clio

Port Hedland

Broome

Dampier

Derby

Troughton Is.

Wadeye

WA-435-P 20%

Phoenix Sth

Drilled Q2/Q3 2014 – OIL DISCOVERY!!

JX Nippon Oil & Gas Exploration

19 km2

not in closure

46 km2

Phoenix

South-1

Phoenix-1

Phoenix-2

Phoenix South oil discovery - WA-435-P - Finder 20%

Port Hedland

3D visualisation of the Phoenix 3D seismic survey

Near top oil (241T) depth surface

• Phoenix South-1 was a liquids rich gas target

=> an oil discovery!

• highside resource estimate as much as

300 mmbbls OOIP

• 4 oil columns ranging from 26 to 46 metres –

and confirms reservoir model

• light oil (45 to 48° API) confirmed by samples

• permeability measurements indicate a

productive oil reservoir (~10s to ~100s mD)

WA-435-P 20%

2010 Phoenix 3D/2D seismic data – courtesy of Spectrum

Broome

Phoenix

South Ph

oen

ix-1

Kera

ud

ren

-1

Ph

oen

ix-2

Better Reservoir Development SE NW

11% Av Ф

~18% AvФ

10% Av Ф

Nebo

Phoenix

Phoenix

Sth

Phoenix = ~1,100 km2


WA-436-P 30%

WA-435-P 20%

WA-438-P 30%

Roc - WA-437-P - Finder 20%

Port Hedland

WA-437-P 20%

Broome

2010 Phoenix 3D/2D seismic data – courtesy of Spectrum

Phoenix

South

Roc

Ph

oen

ix-1

Kera

ud

ren

-1

Ph

oen

ix-2

Better Reservoir Development SE NW

11% Av Ф

~18% AvФ

10% Av Ф

19 km2

not in closure

46 km2

66 km2

Phoenix

South-1

3D visualisation of the Phoenix 3D seismic survey

Near top oil (241T) depth surface

Roc

Bewdy Bottler

• Phoenix South-1 oil discovery de-risks Roc

• Quadrant and JX commit to drill – Q4 2015

• one and a half times the size of the Phoenix

South structure - 680 mmbbl highside OOIP

• reservoir model & shallower target depth

suggests even better sands compared with

Phoenix South-1

• Plus new 3D & 2D data for the next phase of

exploration

~9,800 km of 2D

Capreolus = ~5,100 km2

Phoenix

Roc Nebo Phoenix

Sth


Zeester = ~3,490 km2 Phoenix-1

Phoenix-2




Vision


1. Finder to date



• Bedout

• State Waters

• WA-500-P

• AC/P 55

4. Summary

Phoenix

Phoenix

Sth

EP 483 & TP/25

Ichthys

Jansz/

Io

Brecknock/

Calliance

Petrel

Bayu/Undan

Rankin

Trend

Poseidon

Torosa

Argus

Scarborough

Gorgon Clio

Port Hedland

Broome

Dampier

Derby

Troughton Is.

Wadeye

EP 483 & TP/25 100%* Pipeline of Opportunities

new 3D seismic pSDM acquisition option

EP 483 & TP/25 - Finder 100%

• Surrounded by oil and gas discoveries

• ~4,056 km 2D seismic reprocessing &

interpretation in Year One delivered > 20 P&Ls

• plus stratigraphic enhancement of Birdrong

• & new deeper potential play levels

• Permit Year Three - May 2015 acquisition of

~150 km2 pSDM 3D seismic to address P&L size

S N

EP 483

TP/25

JO TWT (sec)

TW

T

Upper

Triassic

2 km

Biggada?

Upper

Barrow Birdrong

Ridley Tubridgi

Nimrod

Corowa

P&Ls

(in-place volumes)

Triassic Eagle lead

P90 = 80 mmbbl / 143 BCF

P10 = 433 mmbbl / 780 BCF

NE Anchor

11.7 mmbbl Anchor lowside

24.9 mmbbl

SE Anchor

9.9 mmbbl

West Santo

8.6 mmbbl

Santo N

18.0 mmbbl

East Santo

10.3 mmbbl

NW Santo B

14.8 mmbbl

West Santo pinchout

P90 = 35.1 mmbbl

P10 = 260.3 mmbbl

Santo SW

7.4 mmbbl

NW Santo A

15.2 mmbbl




Vision


1. Finder to date



• Bedout

• State Waters

• WA-500-P

• AC/P 55

4. Summary

Phoenix

Phoenix

Sth

WA-500-P

Ichthys

Jansz/

Io

Brecknock/

Calliance

Petrel

Bayu/Undan

Rankin

Trend

3D seismic pSDM reprocessing option

WA-500-P 100%*

Poseidon

Torosa

Argus

Scarborough

Gorgon Clio

Port Hedland

Broome

Dampier

Derby

Troughton Is.

Wadeye


Triassic depth Triassic amplitude

Urania North Lead – Noblige look-a-like?

WA-500-P - Finder 100%

Rankin

Trend

WA-500-P 100%*

Angel

Jansz/Io

Mutineer/

Exeter

• Permit Year Two (Permit award 17 April 2014)

• Three identified play levels –

Triassic Mungaroo (Urania North Lead),

Jurassic Eliassen & Cretaceous basin floor fans

• 1,200 km2 pSDM reprocessing of Willem 3D

in Permit Year One

• Permit Year Three 210 km long offset 2D –

accelerated to July 2015 and also

Permit Year Four Qi accelerated into 2015

Pluto

Fletcher

Urania Nth Urania Nth

Urania North Lead – Noblige look-a-like?

mid stack

W E

Noblige

look-a-like?

JS

ART12

JO JS

ultra far stack

W E

ART12

JO

brighter on

fars

Noblige

look-a-like?

open file data

open file data

www.searcherseismic.com

Arbitrary Line in depth – original with original velocities

32

Data courtesy of Searcher Seismic Pty Ltd – “Drop Bear pSDM MC3D”

Pyxis-1 Pluto-4 Urania-1 Ixion-1 A B

A

B


Arbitrary Line in depth – pSDM Reprocessing

33

corrected for

complex ray paths

obvious

gas

obvious

gas obvious

gas


high resolution

velocity model

deeper prospectivity

requires longer offset

data from Dunnart 2D


A

B



A

B • Inversion results stretched to depth for display – with vertical exaggeration

• Good correlation between well litho-facies and inversion results

• Gas-sand intersected at recent Pyxis-1 location below K horizon

• Another strong gas indication between Pluto-4 and Pyxis-1

at about the same depth as the deeper Urania-1 gas

Arbitrary Line in depth – pSDM + initial JiFi** results

34

obvious

gas

obvious

gas obvious

gas


T horizon

K horizon

JS horizon

ARS10 horizon

** JiFi = Joint Impedence and Facies Inversion

is a unique deterministic inversion that takes partial angle stacks and solves jointly for facies & impedance




Vision


1. Finder to date



• Bedout

• State Waters

• WA-500-P

• AC/P 55

4. Summary

Phoenix

Phoenix

Sth

AC/P 55

Ichthys

Jansz/

Io

Brecknock/

Calliance

Petrel

Bayu/Undan

Rankin

Trend

Poseidon

Torosa

Argus

Scarborough

Gorgon Clio

AC/P 55 100%*

Port Hedland

Broome

Dampier

Derby

Troughton Is.

Wadeye


new 3D seismic pSDM acquisition option

Bonza

AC/P 52

Cronus

Leviathan

Cyclopes

Chiron

Sphinx

Sphinx Sth

AC/P 45

Alpha

Greater Zeta

Iota

Sigma

Kappa

Lambda

Epsilon Sigma Nth Keeling

Puffin

Omega

Abalone-1

Abalone

Deep-1 Argus

Gas

Oil

L. Cretaceous

Plover

Puffin

Triassic

Prospects & Leads

Fields

Permian

Oliver Fm

0 50

North

km

Skua

Swan

AC/P 55

Cracker

AC/P 56

AC/P 55 - Finder 100% - Bonza

• Structural oil play + Zeta extension

• Bonza - 150 mmbbl Puffin & Jabiru Fields

“look-a-like” (oil) with excellent access to

charge - first structure from the graben

• Northern extent of the Zeta Prospect

• Cash/Maple analogues in the east?

• Prospectivity warranted new 3D seismic –

acquisition July/Aug. ‘15 + Onnia 3D repro.

NW Dip Line SE

JO

57T

TO

R

C

Challis/

Pollard

Puffin Eocene

Palaeocene

5.2S

Recent to

Pliocene

Cretaceous

Miocene-

Oligocene

R

C

Lwr Jurassic

-Upr Triassic

Bonza

play fairway

Base Tertiary viz.

Bonza

Puffin Nth

no seal

no sand

Alpha

Zeta

3D = ~440 km2

pSDM

2D and 3D available databases

~ 1,052 line km of 2D reprocessed data from tapes 87JB 607 km

BR98 42 km

T90 92 km

H283A 216 km

HV7 95 km

TOTAL 1,052 km

TR89A

Onnia

Cartier MC3D “Finder licensed”

Cartier MC3D AC/P 55 Year 1

commitment

~437 km2

Quoll seismic

acquisition

Merged

3D pSDM

project

Bonza




Vision


1. Finder to date



4. Summary

In our pursuit to FIND OIL AND GAS

• Finder is an opportunity company driven by geoscience

excellence, new data and deal flow

• Finder is realising our vision through drilling

• 4 wells to date – 3 confirmed hydrocarbons

• 3 wells in the next 12-18 months

Technology

Opportunity

Knowledge People

Well Permit

Olympus-1 WA-450-P

now WA-59-R

Phoenix South-1 WA-435-P

Theia-1 EP 493

Roc-1 WA-437-P

Hyde-1 WA-418-P

Cronus-1 AC/P 52 Yr 6

Finder - realising the vision

“FIND OIL AND GAS”………through drilling

Dec. ‘12

May ‘14

Q3 2016

Spud Date

Q4 2015

July ‘15

And more to come as they mature to “drill-ready”!!!!

In our pursuit to FIND OIL AND GAS

• Finder is an opportunity company driven by geoscience

excellence, new data and deal flow

• Finder is realising our vision through drilling

• 4 wells to date – 3 confirmed hydrocarbons

• 3 wells in the next 12-18 months

• Finder has a selection of great farmin opportunities

maturing across ~47,000 km2 - most with NO material

forward commitments

• New data = MORE OPPORTUNITY!!

• Not to mention Canada!

So please contact us ……..

Technology

Opportunity

Knowledge People

For further information please contact:

Craig M. Gumley

Manager – Business Development

Finder Exploration Pty Ltd

Email: [email protected]

Website: www.finderexp.com

or

around the conference

Finder contact details

Jan Dariusz Shane Aaron Ryan Ostby Jablonski Westlake Bond Taylor-Walshe

Phone: +61 8 9327 0114

Fax: +61 8 9327 0101 9 Richardson Street

West Perth WA 6005

The information, statements, opinions, data or other material (“Information”) contained within this document have been prepared by Finder Exploration Pty Ltd (“Finder”) with reasonable

care and no representation, warranty, or undertaking, express or implied, is made by Finder in relation to the adequacy, accuracy, completeness, correctness, fairness or usefulness of the

Information disclosed herein. Use of the Information shall be at a third parties own risk and third parties should undertake their own independent assessment of the Information and verify

all information upon which it intends to rely, to its own satisfaction. Finder accepts no responsibility or liability for any errors or omissions from the Information, however caused.

mailto:[email protected]

http://www.finderexp.com/

finder exploration - · pdf filefinder exploration riu good oil conference 2 september 2015...

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