mahona energy – agenda
DESCRIPTION
Mahona Energy – Agenda. The Hobby Prospect Use of GeoDIRK Expert System The “Six-Pack” Concept Funding and/or Farm-In Questions / Team Available at Lunch. Mahona Energy – Hobby. Information from 2007 BERR CD Upper Jurassic Potential of ~ 75 MM bboe Drill/Drop License Issued from Today - PowerPoint PPT PresentationTRANSCRIPT
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Mahona Energy – AgendaMahona Energy – Agenda
1. The Hobby Prospect
2. Use of GeoDIRK Expert System
3. The “Six-Pack” Concept
4. Funding and/or Farm-In
5. Questions / Team Available at Lunch
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Mahona Energy – HobbyMahona Energy – Hobby
1. Information from 2007 BERR CDa. Upper Jurassicb. Potential of ~ 75 MM bboec. Drill/Drop License Issued from Today
2. Confirmed by our Own Geophysical Analysis
3. Re-confirmed by Our GeoDIRK Study4. Part of the First “Six Pack” Study Group
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Mahona Energy – Hobby Mahona Energy – Hobby LocationLocation
B
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Mahona Energy -- HobbyMahona Energy -- Hobby
Geodirk shows Strat trap on the dip line.
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Mahona Energy - HobbyMahona Energy - Hobby
1. Field Exploitation• Further Seismic Acquisition• Further GeoDIRK Study
2. Drill/Drop Decision3. Exploration Drilling4. Subsea Tie-Back [Contingent Funding]
Estimated Landed Cost USD 25/bbl
First Oil Mid to Late 2011
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Mahona Energy - GeoDIRKMahona Energy - GeoDIRK
1. Unique Expert System, Converting Seismic to Porosity / Permeability
2. Under Development Since 1992 – DTI, University Reports, Field Use
3. Challenge is “Not Invented Here” – cf ExxonMobil and Success with CSEM !
4. Exploration Example – Mahona, et al
5. Production Example – Caspian Sea
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Mahona / GeoDIRK in Mahona / GeoDIRK in ProductionProduction
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Mahona Energy with GeoDIRKMahona Energy with GeoDIRK
The “Six Pack” Concept [1]
• USD 500 Bn p/a Spent on Exploration
• Around 2/3 is Wasted
• Also Gated by Non-Availability of Talent
• A New Approach is Required
• “Six Pack” Offers This
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Mahona Energy with GeoDIRKMahona Energy with GeoDIRK
The “Six Pack” Concept [2]
1. “First Catch Your Hare” 2. AKA – Use Existing Seismic Data3. Take 50 Sets of Available Seismic Data 4. Process via GeoDIRK5. Discard “Worst” 50 Percent6. Re-Process / Re-Shoot as Appropriate7. Distil to “Top Six”
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Mahona Energy with GeoDIRKMahona Energy with GeoDIRK
The “Six Pack” Concept [3]
Of Those Top Six, Estimate that Three Will Deliver 70 MM bbl Each
LOW COST, QUICK HIGH RETURN
And do it Again, and Again . . .
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Mahona Energy – FundingMahona Energy – Funding
1. To Year End 2010 – USD 2.5 MMa. Fully Establish Companyb. Prepare Hobby Blockc. Identify / Process Initial “Six Pack”
Possible 2 Billion bbls and 3.5 Tcf Gas
2. Mid 2010 – Decide Drill / Drop on Hobbya. Drilling for Cash?b. Farm In? Sell “Oil in the Ground”?c. Market Conditions / Oil Price?
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Mahona Energy - FundingMahona Energy - Funding
3. To YE 2011 – Position Companya. To be Able to Apply for, and Operate, Traditional
UK Licenses – Landward and Seawardb. Ditto for Other Appropriate Areas
i. Light Sweet Oilii. Politically Stableiii. Tax Attractiveiv. Gas Extraction / CO2 Storage?
c. Start Implementing Alternative Energy R&D Programme
4. Identify and Implement Exit Route for Early Investors as and if Required
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Mahona Energy – Questions ?Mahona Energy – Questions ?