pétrole en tunisie dxe-2011-june
TRANSCRIPT
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June 23, 2011
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Corporate Snapshot
Common shares outstanding
Basic 85,818,337Fully diluted 97,862,012
Current monthl revenue ~$250,000
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Working Capital ~$1.7 million
Debt Zero
Production (Mayaverage) ~ 750 mcfe/d
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Greater Mediterranean Focus Area
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Hungary
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y rseg enesz e e , ungary
Pannonian Basin - a proven hydrocarbonprovince with infrastructure in place and readilyaccessible markets.
Producing zones are basal Tertiary tuffaceoussediments and upper Miocene/Pliocene clastics(Pannonian Sandstone), at depths from 1000mto 1800m.
PEN-9 existing
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Peneszlek MiningPlot covers 43.38km2 with full 3Dseismic coverage.
PEN-105 (40.44%)Flowing Gas Well
PEN-101A (42.83%)Flowing Gas Well
ocene
discovery.Flow test 2.6MMscfd.
SERBIA AND
MONTENEGRO
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Hungary Sales Metrics
Current price ~ $11.50 per mcf.
Current netback ~ $7 per mcf.
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Compare with current AECO prices ~$3.75 per mcf, and netbacks of ~$2.00 permcf.
Current production (May average) ~700 mcfe/d net yields ~$150k per month
cashflow.
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Tunisia
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Tunisia Bouhajla Permit
DualEx 100% WI
Permit covers416 km2 (105,000
ac.)
Permit ratified onApril 30, 2010
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Effective Date.
Initial Term 3 yrs -Shoot 100kms 2Ddrill one Abiod
test.
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Tunisia - Hydrocarbon Sector Infrastructure
78 mile (126 km) pipeline fromSidi el Kilani to port at Skhira.
Pipeline sized to handle 22,000 BOPD
from Sidi el Kilani which currentlyproduces approximately 1000 BOPD.
Field production peaked in 1996 at
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Bouhajla terrain and land use
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What is the Abiod?
Bedding surfaceof Abiod exposedat El Kef, WSW
of Tunis on theNW dipping flankof a NE/SW-trending anticline.Ex osed section is
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approx. 75m thick.
Open fracturenetwork withinthe very brittle
chalk of the upperAbiod.
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Bouhajla Permit
Commitment to record100kms of 2D seismic and
drill one well in the firstthree years.
Primary objective is theAbiod fractured chalky
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limestone (250-550 metresthick) with matrix porosity of15-22%.
Depth to primary reservoir
section approximately2200m.10 km
Sidi el Kilani Field
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Producing Analogue Sidi el Kilani
Sidi el Kilani Average Daily Oil Production, 1993-2009
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
20000
FieldAverageDailyOilPro
duction(BOPD)
1994-2001
Avg. daily oil
15,411 BOPD
Nov. 20101,011 BOPD
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Production is closely related to the late-stage shear structure that splits the fieldinto north and south pools.
The bulk of the approx 48 MMBO produced to-date has come from three wells;SLK-1 (the discovery), SLK-3, and SLK-4. Of these, SLK-4 has produced >27MMBO.
1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Production Year
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Sidi el Kilani Template
Operator (KUFPEC)reported no surfaceshows encounteredduring the drilling of the
discovery well, SLK-1.Direct and cutfluorescence in SWcores.
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Sidi el Kilani field seismic section - ETAP
Well cased on thestrength of mudgasresponse, petrophysicalevaluation, and SW coreresults.
On perforating, the wellflowed 3360 BOPD oflight (400API) sweetcrude.
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Bouhajla Prospects - Abiod Time Structure Map
Bouhajla North
Bouhajla Northeast
Three prospecttypes represented:
Four-way closure(Bouhajla N)
Truncation a ainst
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Bouhajla Southeast
salt diapir(Bouhajla NE)
Three way closurewith updip porosity
pinchout(Bouhajla SE)
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Bouhajla Prospects - NI 51-101 Resource Potential
Martin & Brusset Associates
Summary of Estimates of Petroleum Initially in Place
Bouhajla North, Northeast and Southeast Anomalies
Best (Mstb) High (Mstb) Low (Mstb)
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Bouhajla North 82,829 129,090 49,441
Bouhajla Northeast 590,912 930,457 354,289
Bouhajla Southeast 358,878 565,094 215,170
TOTAL 1,032,619 1,624,641 618,900
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Summary - Economics
Bouhajla North prospect only:
Initial capex: $7MM - $9MMTarget recoverable oil: ~40 50 million bbls (Sidi el Kilani analogue)
NPV 10% (internal, unrisked) ~$400 - $500 million, net to DualExshare
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Project is close to infrastructure, leading to fast on-stream time ifsuccessful.
Additional Prospects:
Bouhajla North is the first of the three prospects identified to date.
Bouhajla Northeast and Bouhajla Southeast are significantly largertargets, but currently less mature.
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Corporate Contacts:
Garry Hides, President & CEO
Ken Tompson, Executive VP & COO
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orne orozo , nance
Website: www.dualexen.com
Phone 403-265-8011
Head Office: Suite 200, 521 3rd Ave SW
Calgary, AB T2P 3T3