Key points/additional information noted from presentation;
BORBA
- "Multiple parties interested in Borba farmin"
- "Imminent Borba drilling"
- “Hotter” 3D Seismic amplitudes stacked vertically at Borba” mean that it is “good different” to Dempsey; better reservoirs, and gas trap seals -> better gas flows!"
RED EARTH OIL PRODUCTION ASSETS
- "15 to 30 year remaining life with development wells"
- "3rd Party revenue from owned infrastructure: road use, drilling fluid & water disposal, and oil processing"
- "110 wells are producing oil; Additional wells available for workover and returning to production"
- "Current Net revenue between A$5 and A$10 per barrel; Highly leveraged to oil price"
- "6 processing facilities with gathering lines and plant and equipment"
- "Cumulative Oil Production of ~63 million barrels. The area has economically produced Keg River and Slave Point oil for 30 years; up to 15 years of inventory remaining; With secondary water flood schemes offering an additional 15 years of economic production"
- "Current recovery factor of 12% has the potential to reach greater than 30% on a single section basis via secondary recovery"
- "Annual base decline of 10%. Decline can be mitigated with modest annual capital investment via workovers and re-fracture stimulating on existing well bores"
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