Mahona Energy Agenda

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February 2009. 2. Mahona Energy

Presentation Transcript

Slide 1

Mahona Energy – Agenda The Hobby Prospect Use of GeoDIRK Expert System The "Six-Pack" Concept Funding or potentially Farm-In Questions/Team Available at Lunch

Slide 2

Mahona Energy – Hobby Information from 2007 BERR CD Upper Jurassic Potential of ~ 75 MM bboe Drill/Drop License Issued from Today Confirmed by our Own Geophysical Analysis Re-affirmed by Our GeoDIRK Study Part of the First "Six Pack" Study Group

Slide 3

B Mahona Energy – Hobby Location

Slide 4

Geodirk demonstrates Strat trap on the plunge line. Mahona Energy - Hobby

Slide 5

Mahona Energy - Hobby Field Exploitation Further Seismic Acquisition Further GeoDIRK Study Drill/Drop Decision Exploration Drilling Subsea Tie-Back [Contingent Funding] Estimated Landed Cost USD 25/bbl First Oil Mid to Late 2011

Slide 6

Mahona Energy - GeoDIRK Unique Expert System, Converting Seismic to Porosity/Permeability Under Development Since 1992 – DTI, University Reports, Field Use Challenge is "Not Invented Here" – cf ExxonMobil and Success with CSEM ! Investigation Example – Mahona, et al Production Example – Caspian Sea

Slide 7

Mahona/GeoDIRK in Production

Slide 8

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

Slide 9

Mahona Energy with GeoDIRK The "Six Pack" Concept [2] "First Catch Your Hare" AKA – Use Existing Seismic Data Take 50 Sets of Available Seismic Data Process by means of GeoDIRK Discard "Most exceedingly bad" 50 Percent Re-Process/Re-Shoot as Appropriate Distil to "Main Six"

Slide 10

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 . . .

Slide 11

Mahona Energy – Funding To Year End 2010 – USD 2.5 MM Fully Establish Company Prepare Hobby Block Identify/Process Initial "Six Pack" Possible 2 Billion bbls and 3.5 Tcf Gas Mid 2010 – Decide Drill/Drop on Hobby Drilling for Cash? Cultivate In? Offer "Oil in the Ground"? Economic situations/Oil Price?

Slide 12

Mahona Energy - Funding To YE 2011 – Position Company To have the capacity to Apply for, and Operate, Traditional UK Licenses – Landward and Seaward Ditto for Other Appropriate Areas Light Sweet Oil Politically Stable Tax Attractive Gas Extraction/CO 2 Storage? Begin Implementing Alternative Energy R&D Program Identify and Implement Exit Route for Early Investors as and if Required

Slide 13

Mahona Energy – Questions ?