04 090212 Mahona OilBarrel Conf Final
Mahona 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
February 20
mahona.com
1
Mahona Energy – Hobby
1. Information from 2007 BERR CD
a. Upper Jurassic
b. Potential of ~ 75 MM bboe
c. Drill/Drop License Issued from Today
2. Confirmed by our Own Geophysical
Analysis
3. Re-confirmed by Our GeoDIRK Study
4. Part of the First “Six Pack” Study Group
February 20
mahona.com
2
Mahona Energy – Hobby
Location
B
February 20
mahona.com
3
Mahona Energy -- Hobby
Geodirk shows Strat
trap on the dip line.
February 20
mahona.com
4
Mahona Energy - Hobby
1. Field Exploitation
•
•
Further Seismic Acquisition
Further GeoDIRK Study
2. Drill/Drop Decision
3. Exploration Drilling
4. Subsea Tie-Back [Contingent Funding]
Estimated Landed Cost USD 25/bbl
First Oil Mid to Late 2011
February 20
mahona.com
5
Mahona 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
February 20
mahona.com
6
Mahona / GeoDIRK in
Production
February 20
mahona.com
7
Mahona 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
February 20
mahona.com
8
Mahona Energy with GeoDIRK
The “Six Pack” Concept [2]
1.
2.
3.
4.
5.
6.
7.
“First Catch Your Hare”
AKA – Use Existing Seismic Data
Take 50 Sets of Available Seismic Data
Process via GeoDIRK
Discard “Worst” 50 Percent
Re-Process / Re-Shoot as Appropriate
Distil to “Top Six”
February 20
mahona.com
9
Mahona 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 . . .
February 20
mahona.com
10
Mahona Energy – Funding
1. To Year End 2010 – USD 2.5 MM
a. Fully Establish Company
b. Prepare Hobby Block
c. Identify / Process Initial “Six Pack”
Possible 2 Billion bbls and 3.5 Tcf Gas
2. Mid 2010 – Decide Drill / Drop on Hobby
a. Drilling for Cash?
b. Farm In? Sell “Oil in the Ground”?
c. Market Conditions / Oil Price?
February 20
mahona.com
11
Mahona Energy - Funding
3. To YE 2011 – Position Company
a. To be Able to Apply for, and Operate, Traditional UK
Licenses – Landward and Seaward
b. Ditto for Other Appropriate Areas
i.
ii.
iii.
iv.
Light Sweet Oil
Politically Stable
Tax Attractive
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
February 20
mahona.com
12
Mahona Energy – Questions ?
February 20
mahona.com
13
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
February 20
mahona.com
1
Mahona Energy – Hobby
1. Information from 2007 BERR CD
a. Upper Jurassic
b. Potential of ~ 75 MM bboe
c. Drill/Drop License Issued from Today
2. Confirmed by our Own Geophysical
Analysis
3. Re-confirmed by Our GeoDIRK Study
4. Part of the First “Six Pack” Study Group
February 20
mahona.com
2
Mahona Energy – Hobby
Location
B
February 20
mahona.com
3
Mahona Energy -- Hobby
Geodirk shows Strat
trap on the dip line.
February 20
mahona.com
4
Mahona Energy - Hobby
1. Field Exploitation
•
•
Further Seismic Acquisition
Further GeoDIRK Study
2. Drill/Drop Decision
3. Exploration Drilling
4. Subsea Tie-Back [Contingent Funding]
Estimated Landed Cost USD 25/bbl
First Oil Mid to Late 2011
February 20
mahona.com
5
Mahona 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
February 20
mahona.com
6
Mahona / GeoDIRK in
Production
February 20
mahona.com
7
Mahona 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
February 20
mahona.com
8
Mahona Energy with GeoDIRK
The “Six Pack” Concept [2]
1.
2.
3.
4.
5.
6.
7.
“First Catch Your Hare”
AKA – Use Existing Seismic Data
Take 50 Sets of Available Seismic Data
Process via GeoDIRK
Discard “Worst” 50 Percent
Re-Process / Re-Shoot as Appropriate
Distil to “Top Six”
February 20
mahona.com
9
Mahona 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 . . .
February 20
mahona.com
10
Mahona Energy – Funding
1. To Year End 2010 – USD 2.5 MM
a. Fully Establish Company
b. Prepare Hobby Block
c. Identify / Process Initial “Six Pack”
Possible 2 Billion bbls and 3.5 Tcf Gas
2. Mid 2010 – Decide Drill / Drop on Hobby
a. Drilling for Cash?
b. Farm In? Sell “Oil in the Ground”?
c. Market Conditions / Oil Price?
February 20
mahona.com
11
Mahona Energy - Funding
3. To YE 2011 – Position Company
a. To be Able to Apply for, and Operate, Traditional UK
Licenses – Landward and Seaward
b. Ditto for Other Appropriate Areas
i.
ii.
iii.
iv.
Light Sweet Oil
Politically Stable
Tax Attractive
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
February 20
mahona.com
12
Mahona Energy – Questions ?
February 20
mahona.com
13