Mahona Energy – Agenda
Mahona Energy – Agenda
1. The Hobby Prospect
2. Use of GeoDIRK Expert System 3. The “Six-Pack” Concept
4. Funding and/or Farm-In
Mahona Energy – Hobby
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
Mahona Energy – Hobby
Mahona Energy – Hobby
Location
Location
Mahona Energy -- Hobby
Mahona Energy -- Hobby
Mahona Energy - Hobby
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
Mahona Energy - GeoDIRK
Mahona Energy - GeoDIRK
1. Unique Expert System, Converting Seismic to Porosity / Permeability
2. Under Development Since 1992 – DTI, University Reports, Field Use
Mahona / GeoDIRK in
Mahona / GeoDIRK in
Production
Mahona Energy with GeoDIRK
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
Mahona Energy with GeoDIRK
Mahona Energy with GeoDIRK
The “Six Pack” Concept [2]
1. “First Catch Your Hare”
2. AKA – Use Existing Seismic Data
3. Take 50 Sets of Available Seismic Data
4. Process via GeoDIRK
5. Discard “Worst” 50 Percent
6. Re-Process / Re-Shoot as Appropriate
Mahona Energy with GeoDIRK
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
Mahona Energy – Funding
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?
Mahona Energy - Funding
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. Light Sweet Oil
ii. Politically Stable
iii. Tax Attractive
iv. Gas Extraction / CO2 Storage?
c. Start Implementing Alternative Energy R&D Programme
