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SAPEX Limited. COMPANY PRESENTATION July 2006. SAPEX COMPANY OBJECTIVES. Become a successful and significant explorer and producer of oil & gas in South Australia: 1: discover, develop & produce oil 2: discover, produce coal-seam-gas (CSG) 3: possibly develop/commercialize coal

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Sapex limited

SAPEX Limited

COMPANY

PRESENTATION

July 2006

SAPEX Limited


Sapex company objectives

SAPEX COMPANY OBJECTIVES

  • Become a successful and significant explorer and producer of oil & gas in South Australia:

    • 1: discover, develop & produce oil

    • 2: discover, produce coal-seam-gas (CSG)

    • 3: possibly develop/commercialize coal

    • Act responsibly with respect to Aboriginal Heritage and the environment.

SAPEX Limited


Sapex introduction 1

SAPEX --- Introduction (1)

  • Andrew Andrejewskis

  • Managing Director

  • Geologist, 30+ years in petroleum industry, 10 years in SA & NT Government, senior management.

  • Worked throughout Australia, New Zealand & other overseas areas on petroleum projects.

SAPEX Limited


Sapex introduction 2

SAPEX --- Introduction (2)

  • Board of Directors & technical advisers combined have more than 100 years of practical petroleum industry experience.

  • The Board has members with many years of legal, financial and management experience in resource companies.

  • Company will be based in Adelaide

  • SAPEX currently is unlisted, public company.

SAPEX Limited


Location of pel s

Location of PEL’s

Arckaringa Basin

SAPEX Limited


Arckaringa basin

Arckaringa Basin

SAPEX Limited


Capital to fund company operations

Capital to fund Company Operations

  • SAPEX has capital to fund:

    • Negotiations to reach agreement with Native Title Claimants then obtain grant of PEL’s in Arckaringa Basin

    • Preliminary planning for exploration programs

    • Will secure funds from public investors for exploration, which starts when PEL’s granted.

SAPEX Limited


Petroleum exploration

Petroleum Exploration

  • High risk: - only 10% is successful

  • Exploration very expensive; different from minerals:

    • Seismic survey: 500km: ~ $2.5 million

    • Petroleum Exploration Well: ~$1.2-1.8 million

    • CSG well:~ $100-200 thousand

  • Seismic surveys and drilling must be done to find oil & gas

  • BUT no guarantee of success.

SAPEX Limited


Arckaringa basin exploration programs

Arckaringa Basin Exploration Programs

  • “Frontier Basin” i.e. unexplored

  • Need to define prospects for drilling and find new prospects

  • Plan seismic surveys of approx. 300 km detail prospect and 500 km regional in Year 1; cost $4-5 million

  • Drill 2-3 oil exploration wells about end Year 1 - Year 2 (when drilling rigs available)

    • cost: ~ $2.5 million (2 wells)

  • CSG wells: drill 4-6 pilot wells in Year 1- Year 2;

    • cost: $400,000-600,000 +.

  • SAPEX Limited


    Sapex is committed to

    SAPEX is Committed to:

    • Protection of Aboriginal Heritage and obtaining clearances

    • Protection of Environment

    • Fulfilling requirements of SA Legislation and regulations for rehabilitation of land

    • Conduct heritage surveys, protect important Aboriginal sites & objects

    • Promote training & employment opportunities for Aboriginal people where possible

    SAPEX Limited


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