FINDER EXPLORATION
“Delivering the Portfolio”Excellence in Oil & Gas 2011- 1 March 2011
Technology
Opportunity
Knowledge People
“FIND OIL AND GAS”through the advancement of “high impact”
oil and gas exploration acreage
Vision
Technology
Opportunity
Knowledge People
Realising the vision
DATA KNOWLEDGE
TECHNOLOGY
By utilising our expertise, database and relationships to capture
opportunities
Expertise• Senior staff have diverse & complementary range of backgrounds, skills & experiences
• Over 100 years of expertise in global oil and gas exploration
• Current staffing level of 10 (+ part-time and consultants)
Key Personnel
Jan OstbyManaging Director
• 25+ years• ex Fugro / Seismic
AustraliaDariusz JablonskiExplorationManager
•20+ years•ex Woodside
Shane WestlakeTechnical Project Manager
• 10+ years• ex PGS
Craig GumleyOperations & JV Manager
• 25+ years• ex Santos
Don PykeCommercial Manager
• 15+ years• ex Fugro / Seismic
Australia
Realising the vision
DATA KNOWLEDGE
TECHNOLOGY
OPPORTUNITY IDENTIFICATION & CAPTURE
By focussing on the offshoreNorth West Shelf
(currently 13 Permits, 10 Operated)
Finder’s Australian Acreage
100%*
~32%
100%*50%*50%*
50%* 50%*
60%*60%*
55%*
100%*
100%*
25%
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
with material participating interests
Finder’s Australian Acreage
• Currently operating 10 of 13 Australian and 5 Jamaican Exploration Permits – total net acreage 34,370 net km2
• Secured 9 Australian new Permits since beginning 2009• 2 in the Browse / Bonaparte• 4 @ 50% JV with Carnarvon Petroleum in the Bedout• Plus 3 new blocks May/June 2010
• 156% net Australian acreage add since 2009
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
Realising the vision
DATA KNOWLEDGE
TECHNOLOGY
OPPORTUNITY IDENTIFICATION & CAPTURE
RISK MITIGATION
By undertaking detailed in-houseregional technical assessment
and risk mitigation
Basin scale regional assessment – Nth Carnarvon
Mutineer
Exeter
Eaglehawk
Goodwyn
Persephone
EgretLambert
Carteret
North Rankin
Perseus
Capella
Bounty
Fletcher
WA-418-P
Oxfordian unconformity 3D depth visualisation
east-west dimension ~100 km
Our regional assessment allows us to challenge the paradigms
Finder’s Australian Farmouts
• Track record of success for our model:• AC/P 36 – 2007 farmout to Murphy & PTTEP
1 well drilled• WA-401-P – sold 100% to Woodside and Hess in
April 2009• AC/P 44 & 45 – Nov. ’09 farmout to Perenco• AC/P 52 – Dec. ‘09 farmout to SASOL• WA-450-P – Aug. ‘10 farmout to Apache• WA-418-P – Oct. ‘10 farmout to Apache
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
While maintaining material participating interests
Realising the vision
DEFINEDRILLABLEPROSPECTS
DATA KNOWLEDGE
TECHNOLOGY
OPPORTUNITY IDENTIFICATION & CAPTURE
RISK MITIGATION
With ~5,500 km2 of new 3D seismic data in 7 surveys across
8 Permits in 2010/2011
driven by new 3D seismic data!
Acquiring or licensing ~5,500 km2 of3D seismic data in next twelve months:• Cartier = ~864 km2
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
Base Triassic
JO
ZetaPermian Gas
Intra Triassic Play??
S NLine 87jb-25 – Full stack
AC/P 45 – Finder 60%Line 8801-01 – Far Angle stackDelta-1
67T68T
T56T
JO
AlphaPuffin Oil
• Farmed out 40% to Perenco in Nov. ’09
• 7 Puffin oil prospects and leads withAlpha 240 mmbbls highside STOOIP
• 3 Permian gas leads withZeta 11 TCF highside OGIP
• Drill in 2012/2013?
SW NE
Ichthys
Scott Reef/Brecknock
Argus3D = ~864 km2
Puffin
driven by new 3D seismic data!
Acquiring or licensing ~5,500 km2 of3D seismic data in next twelve months:• Cartier = ~864 km2
• Cartier West = ~517 km2
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
AC/P 52 – Finder 55%
JO
AC/P52
KC
CronusArgus Field
JO
JO
KV
Cronus-1 PGS line 32 – seabed distortion removed
Low Reflectivity = no volcanics
SubcroppingTriassic
New Dawn MC-2D GeoStreamer Data – courtesy of PGS
• Farmed out 45% to SASOL in Dec. ’09
• Critical uncertainty is resource size, to be addressed with 3D seismic
• Cronus Jurassic/Triassic gas prospect with 12 TCF highside OGIP
• Drill in 2012/2013?• Other prospectivity “on block”
IchthysScott Reef/Brecknock
Argus
3D = ~517 km2
Poseidon
driven by new 3D seismic data!
Acquiring or licensing ~5,500 km2 of3D seismic data in next twelve months:• Cartier = ~864 km2
• Cartier West = ~517 km2
• Tiffany = ~731 km2
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
AC/P 44 – Finder 60%
Ichthys
Scott Reef/Brecknock
Argus
Puffin
• Farmed out 40% to Perenco in Nov. ’09
• 3 Triassic oil/gas prospects & leads with Omega 570 mmbbls STOOIP or5 TCF highside OGIP
• Drill in 2012/2013?• Plus 5 Puffin oil leads in south
Strike Line BR98-214 – Full Stack
Base Triassic
JO
TO
OmegaProspect T
KCR
C
SW NE
Shallow Amplitude
Velocity Push Down
0 5km
JO KC
TOFlatspot
Push Down
3D = ~731 km2
driven by new 3D seismic data!
Acquiring or licensing ~5,500 km2 of3D seismic data in next twelve months:• Cartier = ~864 km2
• Cartier West = ~517 km2
• Tiffany = ~731 km2
• Phoenix = ~1,100 km2
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
Bedout Basin – Finder 50%
• 4 Permits granted August 2009
• 3D to identify reservoir sweet spots• Proven Triassic Phoenix gas resource with
1 TCF highside OGIP• Phoenix South (3.5 TCF) + Roc lead• Drill in 2012?
Phoenix
Phoenix South
3D = ~1,100 km2
Phoenix South
Roc
Phoe
nix-
1
Ker
audr
en-1
8-12% porosity
20% porosity
Improving reservoir characteristicsNW SE
Port Headland
W E
driven by new 3D seismic data!
Acquiring or licensing ~5,500 km2 of3D seismic data in next twelve months:• Cartier = ~864 km2
• Cartier West = ~517 km2
• Tiffany = ~731 km2
• Phoenix = ~1,100 km2
• WA-418-P = ~1,519 km2
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
WA-418-P – Finder 35%
• Farmed out 65% to Apache in Aug. ’10
• 15 P&Ls over four primary play levels – key P&Ls covered with new 3D seismic data
• Hyde Legendre prospect with highside780 mmbbls STOOIP &Nth Rankin 16 TCF highside OGIP
• Drill in 2012/2013?
S S
R
C
C
R
C0 5km
S N
Angel
Legendre
Nth Rankin
Athol
Hyde
3D = ~1,519 km2
W E
R
C
R
C
C
SS
0 5km
Hyde Childers
driven by new 3D seismic data!
Acquiring or licensing ~5,500 km2 of3D seismic data in next twelve months:• Cartier = ~864 km2
• Cartier West = ~517 km2
• Tiffany = ~731 km2
• Phoenix = ~1,100 km2
• WA-418-P = ~1,519 km2
• WA-450-P = ~231 km2
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
Gorgon
Clio
OlympusKeto-1
Zeepaard-1
WA-450-P
Zola Prospect
Oxfordian depth map looking north-east
Sappho-1
WA-450-P – Finder 25%
• Farmed out 75% to Apache in Aug. ’10
• Play rich block south of Clio and Gorgon• Olympus is standout Triassic prospect with
12 TCF highside OGIP• New pSDM across the Permit• Carried drill commitment in 2012/2013,
potential to accelerate?
Flatspot
Olympus Prospect
line B91-40 - Data courtesy of Searcher Seismic
3D = ~231 km2
driven by new 3D seismic data!
Acquiring or licensing ~5,500 km2 of3D seismic data in next twelve months:• Cartier = ~864 km2
• Cartier West = ~517 km2
• Tiffany = ~731 km2
• Phoenix = ~1,100 km2
• WA-418-P = ~1,519 km2
• WA-450-P = ~231 km2
• WA-445-P = ~500 km2 (pSDM repro)
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
WA-445-P – Finder 100%
• Awarded in May 2010
• Potential for a depth conversion -amplitude supported drill target
• Amplitudes indicative of gas nearby, but no mapped time closure on Permit
• New 3D pSDM reprocessed data will tie to Wheatstone gas to the west
• Drill in 2012/2013?
3D = ~500 km2
Malus-1
Malmsey-1 WA-445-P
Malus-1
Malmsey-1
Time low,depth high?
TWT Map (m) RMS Amplitude Extraction(-20+20ms window)
Mickey Lead
WA-445-P
Iago GasMickeyLead
Iago-3
SW NE
Moving the portfolio to drill ready
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
Q4 2011interpretation
Drill2012/2013?
farmout
AC/P 45 AC/P 52 AC/P 44
Bedout WA-418-P WA-450-P
Q3 2011interpretation
Drill2012/2013?
farmout
Q3 2011interpretation
Drill2012/2013?
farmout
Q4 2011interpretation
Drill2012/2013?
farmout
Q4 2011interpretation
Drill2012?
farmout
Q4 2011interpretation
Drill2012/2013?
Q1 2012interpretation
Drill2012/2013?
Moving the portfolio to drill ready
Ichthys
Jansz/Io
Scott Reef/Brecknock
Petrel
Bayu/Undan
Rankin Trend
Gorgon
Q3 2011interpretation
Drill2012/2013?
farmout
Q3 2011interpretation
Drill2012/2013?
farmout
Q4 2011interpretation
Drill2012/2013?
farmout
Q1 2012interpretation
Drill2012/2013?
Q4 2011interpretation
Drill2012/2013?
Q4 2011interpretation
Drill2012/2013?
farmout AC/P 45 AC/P 52 AC/P 44
Bedout WA-418-P WA-450-P
Q4 2011interpretation
Drill2012?
farmout
Realising the vision
DEFINEDRILLABLEPROSPECTS
DATA KNOWLEDGE
TECHNOLOGY
WELLS(PARTICIPATE)
OPPORTUNITY IDENTIFICATION & CAPTURE
RISK MITIGATION
Through the interpretation ofthe 3D data to mature prospects
in each Permit to drill ready
By farming out to participatein the drilling of wells
in 2012 to 2013
In the future• Finder is a private company
• Successful business build since 2005
• Upcoming 2012/2013 drilling campaign may require access to capital markets
Finder Contact Details
The information, statements, opinions, data or other material (“Information”) contained within this document has been prepared by Finder Exploration Pty Ltd (“Finder”) with reasonablecare 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 theInformation 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 verifyall 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.
For further information on this presentation please contact:Craig M. GumleyOperations & Joint Venture Manager
Don PykeCommercial Manager
email: [email protected]
email: [email protected]
Phone: +61 8 9327 0114Fax: +61 8 9327 0101
Phone: +61 8 9327 0155Fax: +61 8 9327 0101
Website: www.finderexp.com
Visit:9 Richardson StreetWest Perth WA 6005