Westbridge ppt-2012-08-30

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Westbridge ppt-2012-08-30

  1. 1. Exploring Africa TSX-V: WEB
  2. 2. 2Forward Looking Statements This presentation contains forward-looking statements and factual information that are current as of the date the presentation was originally delivered. When used in this presentation, words such as “may”, “would”, “could”, “will”, “expect”, “anticipate”, “estimate”, “believe”, “contemplate”, “intend”, “budget” “plan” and other similar expressions are intended to identify forward-looking statements. Forward-looking statements include, but are not limited to, statements with respect to the timing and amount of estimated future exploration, success of exploration activities, expenditures, permitting, and requirements for additional capital and access to data. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Westbridge Energy Inc. (the “Company”) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; the ability to enter into joint ventures or to acquire or dispose of properties; future prices of oil and gas; fluctuations in currency markets; operating or technical difficulties in relation to the speculative nature of oil exploration; accidents, employee relations (including labour disputes) and other risks of the resource industry; ability to obtain financing; changes in costs and estimates associated with the Company’s projects; legislative, political or economic developments in the jurisdictions in which the Company carries on business; requirements for additional capital; and regulatory restrictions including delays in obtaining governmental approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward- looking statements, there may be other factors that cause results not to be as anticipated, estimated or expected. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by applicable law.
  3. 3. 3The Next Frontier BRIDGING +13 BILLION BARRELS* OF OIL RESERVES FROM BRAZIL TO NAMIBIA, WEST AFRICA*OPEC, 2011
  4. 4. 4Why Westbridge? !  The Next Oil Frontier !  Regional Catalysts !  Majors Present !  Under-explored Assets !  Proven Management !  Attractive Capital Structure Picture: Oil Platform Offshore Angola
  5. 5. 5Country Details - Namibia Stable democracy Angola Resource economy Low corruption Namibia BBB Risk Rating Windhoek Walvis Bay Botswana 2.1 million people GDP US$13.6 (2008) Luderitz South Africa 5% royalty + 30% tax
  6. 6. 6Offshore Namibia 1811B
  7. 7. 7Regional Activity Energulf Resources Block 1711A/B 2.75BBL best estimate Drilling planned end of 2012 Chariot Oil & Gas Block 1811A Tapir prospect, drilled 2012 Directly north of WEB Tower/ Arcadia Block 2011A Drilling Delta prospect, Second Half 2012 HRT Blocks Four wells planned, 2012 Chariot/Petrobras Block 2412A, 2312A/B Four-five wells planned, 2012-2013 Chariot Oil & Gas / Petrobras / BP Block 2714A Drilling Nimrod prospect, Second Half 2012 Kudu Gas Field 1.3 TCF Proven Gas Reserves Plans for commercialization
  8. 8. 8Block 1811B Acquisition completed July 3, 2012 WESTBRIDGE Namibe Basin, Northern Namibia 1,446,555 acres Directly on seismic trend Age equivalent to sub-salt discoveries in Kwanza basin, offshore Angola 80% Working Interest Source: NAMCOR, Aeromag Survey offshore Namibia
  9. 9. 9Opportunity Scale Thunder Horse •  Gulf of Mexico •  34,595 acres •  +1 billion barrels •  260,000 boepd 42x •  200 mcfpd WESTBRIDGE 1811B •  BP and Exxon 1,446,555 acres
  10. 10. 10Water Depth
  11. 11. 11Stratigraphic Chart LEGEND Petroleum Geology Tectonic Events gas shows (RSA Orange Basin) rift faulting Kudu with liquid component exensional faulting oil show/recovery (AJ-1, RSA) gravity faulting Source Rock Interval
  12. 12. 12Source Rock Turonian - Cenomanian shales probable source rock Organic-rich oil shales encountered in DSDP well 530, DSDP well 530 Walvis Ridge Maturity and stratigraphy analogous to West African basins (Kwanza and Congo Basins in Angola & Orange Basin in RSA)
  13. 13. 13Seismic Data Accumulation 20 new 2D lines shot •  Red lines on map •  Currently processing •  New data available later this year 11 historic 2D lines shotBlock 1811B •  Black lines on map •  Being reinterpreted •  Reinterpretation available later this year
  14. 14. 14Work Program • Acquire, review, reprocess and 2013 • Acquire, Process interpretation all & Interpret 2,000 available km2 of 3D seismic geological and surveys • Acquire, Process geophysical data • Drill first well & Interpret 500 km of 2-D seismic survey • Open data to 2012 source farm-in 2014-2015 partner * Minimum USD $5MM spend over 4 year period
  15. 15. 15Brazilian and Angolan Analogs Oil shows in all wells drilled offshore Namibia Africa Identical age and rock type to offshore Angola South America Brazilian Reserves: 13 BLN Angola Angolan Reserves: 15 BLN Namibia*OPEC, 2011
  16. 16. 16Angolan AnalogGirassol Oil Field in the Gulf of Guinea•  Discovered in 1996 Cobalt Discovery•  4,600 ft of water depth•  2003 peek production at 240,000 boepd•  Since Girassol +70 oil fields discovered•  3 Super Majors present AngolaCobalt International Discovery (AMEX: CIE)•  Pre-salt discovery released Feb 9, 2012•  1,180 ft gross oil column (885 ft net pay) Namibia•  Drill Stem Test flowed 7,400 boepd (5010 bpd oil and 14.3 mcfpd gas)•  44 degree API crude•  Well cost of USD $36.3 million•  ~ $9 to $35 share price on announcement of discovery
  17. 17. 17Brazilian Analog Tupi Oil Field in the Santos Basin •  Discovered in 2006 •  Estimated to contain 5 billion Brazil barrels recoverable oil •  30 degree API crude •  6,600 ft of water depth •  First production in May 2009 Tupi Jupiter Jupiter Field in the Santos Basin •  Discovered in January 2008 •  Huge gas and condensate field •  Could equal size of Tupi Field •  23 miles east of Tupi
  18. 18. 18Upcoming Catalysts !  8-12 wells drilled in the next year: 1) Q3 & Q4 2012 – 4-6 Offshore Wells planned (Chariot/BP/Petrobras, Energulf, Tower/Arcadia, Chariot/Petrobras); and 2) Q1 & Q2 2013 – 4-6 wells planned (Chariot/Petrobras, HRT) !  Acquisition of additional assets, farm outs and joint ventures !  Acquisition of 2D and 3D seismic !  Regional drilling and discoveries (Namibia, Angola, Brazil & Falkland Islands)   !  Additions to management, board and technical team !  Namibia International Oil & Gas Conference hosted by BP, 6-7 September, 2012 in Windhoek
  19. 19. 19Government Partner - NAMCOR National Petroleum Corporation of Namibia Namibian Government 100% Shareholder Promote hydrocarbon potential of Namibia Namibian participation in discoveries Advisor to Ministry of Mines and Energy
  20. 20. 20Management Team / Advisors Cody Lee, President & CEO Nationally recognized expert in the oil and gas industry. President of Albuquerque Petroleum Association. Listed as OilandGas a 40 Under Forty honoree by the New Mexico Business Weekly. Tosan Omatsola, Advisor Management Mr. Tosan Omatsola is an exploration and development Geoscientist with over 15 years’ experience in the oil and gas industry. He has a broad and extensive international technical background from his experiences with British Petroleum – BP, Engineering Texaco and United Oil and Gas. Bradley Knickel, Advisor +31 years experience engineering, finance, acquisitions, Finance and international prospect development in oil and gas. Business Development
  21. 21. 21Board of Directors Mark Frewin, Chariman Partner at McCarthy Tétrault in London. Practice focused on energy and mining with extensive experience working in Africa. Previously Independent Director of UNX Energy. Lead counsel to Heritage Oil and Gas. Oil&Gas Peter Henry, Independent Director +11 years experience in the investment and energy businesses with FirstEnergy Capital and Canaccord Capital. Currently, he is a consultant to public and private oil and gas companies and a Experienced director of Shoreline Energy.  Paul Larkin, Independent Director +37 years of experience in corporate finance and capital markets. CEO and President of Tyner Resources Ltd., and a director and audit committee member of LNG Energy Ltd., Independent U.S. Geothermal Inc. and Condor Resources Inc Kevin Everingham, Advisor Previously Managing Director in BMO Capital Markets’ Global Energy Group . Lead banker on UNX/HRT transaction. Graduate of Harvard Business School.18
  22. 22. 22 Share Structure Symbol TSXV:WEB Share Price* $0.325 Basic Shares (mm) 78.5 Warrants (mm) 28.3 Options (mm) 2.3 FD Shares (mm) 109.1 Market Capitalization (mm) $25.5 Cash Basic (mm) $2.9 Cash Fully Diluted (mm) $9.3* Close on July 6, 2012
  23. 23. 23Investment Summary •  “Tailwind” of Namibia Energy Success •  Westbridge Energy –  Pedigree in energy –  Properly structured •  Management –  Value Creators –  Operational deal makers •  Capital Availability –  Tested model –  Successful track record –  Area of Interest
  24. 24. 24Contact Information Corporate Office: Suite 530-625 Howe Street Vancouver, British Columbia Canada V6C 2T6 www.westbridgeweb.com Investor Contact: Cody Lee, President +1 (505) 850 2930

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