April 2014
This presentation (the "Presentation") contains forward-looking information
relating to, among other things, (a) the future financial performance and
objectives of Canadian Foresight Group Ltd. (the “CFG”) and (b) plans and
expectations of the Corporation. Such information may be identifiable by the
terminology used, such as, but not limited to "plan," "anticipate," "predicts",
"projects", "believes", "seeks", "intends," "expects," "estimate," "budget," "forecast,"
"will," "may," "should," "would," or other similar wording. The forward-looking
statements are based on the Corporation’s current expectations, assumptions,
estimates and projections about future events. The forward-looking information is
subject to numerous known and unknown risks, uncertainties, and other factors,
most of which are beyond the control of the Corporation, which may cause actual
results, levels of activity and achievements to differ materially from those
expressed or implied by such information. Readers and prospective investors are
cautioned not to place undue reliance on any forward-looking information
contained in this Presentation. The Corporation undertakes no obligation to
update or revise forward-looking information contained in this Presentation,
whether as a result of new information, future events, or disclose the occurrence
of unanticipated events or otherwise. All information and material included in this
Presentation is current as of April 2014, unless otherwise stated. Please be
cautioned that all forward-looking information contained in this Presentation is
expressly qualified by this cautionary statement.
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Canadian Foresight Group Limited (“CFG”) is founded by a
group of investors and key team members of an oil
company operating in Canada.
CFG has a very experienced management team with
expertise in both onshore (Canada) and offshore oil/gas
exploration particularly in Asia and development with over
180 years industry working experience.
CFG was established to pursue international E&P
opportunities in Asia.
CFG has very strong financing support from existing share
holders and financial institutions from North America and
Asia
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Shares outstanding: 150 million shares and
50 million options
Capital raising: Planning to raise US$30
million to US$100 million by mid-2014 at
$0.50/share
Backing from major institutions and investors
from Asia and North America
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Major strategic and potential location for
regional trade and transport hub
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Richly endowed with natural resources
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Large and relatively young population
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Rich cultural heritage
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Strong economic growth potential
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Multi-TCF potential of the underexplored offshore blocks
Myanmar is still considered as frontier land with an
estimated 3.2 recoverable billion barrels of oil out of
estimated 540 billion barrels in place and 18 TCF of
proven gas reserves out of estimated 89 TCF potential gas
reserves
Myanmar’s domestic gas demand is increasing and energy
security a concern. There exist an exceedingly robust
domestic gas demand from neighboring countries such as
Thailand, China and India
Infrastructure for oil and gas delivery is built
YADANA GAS PROJECT
•Estimated gas reserves of 6.7 TCF.
Started operating in 1998. Gas
production is 870 MMSCFD. 17 wells in
total are connected to 3 platforms.
•Located in blocks M5 and M6 with an
area of 26, 140 sq. km.
•Operated by Total and partnered with
PTTEP, Myanmar Unocal, and MOGE
•Gas exported from gas field to Thailand
•There are a number of discovered gas
fields being developed in these blocks
that are prospective.
ZAWTIKA PROJECT
•Estimated gas reserves of 8 TCF with
targeted production of 300 - 400
MMSCFD. First gas production was in
Feb 2014. 35 wells in total are
connected to 3 platforms.
•Located in block M9 and small NE part
of M11 with an area of 11,746 sq. km.
Zawtika, Gawthaka, and Kakonna gas
fields were discovered in 2007.
•Operated by Thai state-owned
enterprise PTTEP (80%) and partnered
with MOGE (20%). 2/3 of gas exported
to Thailand and the rest is for
Myanmar’s domestic use.
YETAGUN GAS PROJECT
•Estimated gas reserves of 4.2 TCF
with 2013 Q4 production of 442
MMSCFD and liquids condensate of
10,431 bbls/d. This has one
platform with 10 wells.
•Located in blocks M12, M13, and
M14 within an area of 24,130 sq km.
•Operated by Petronas and partnered
with PTTEP, Nippon, Mitshubishi,
MOGE (10 wells).
•Production started in April 2000.
SHWE GAS PROJECT
•Estimated gas reserves of 9.1 TCF
with production of 700 MMSCFD.
•Located in blocks A1 and A3, in the
Rakhine offshore . It has 11 wells on
the platform and 4 wells in the
subsea wellhead.
•Operated by Daewoo and partnered
with ONGE, GAIL, KOGAS, and MOGE
•Export of gas to China started in
2013.
•The gas pipeline from
Myanmar to China carries the
gas extracted from Shwe gas
project located offshore of the
Bay of Bengal.
•The crude oil pipeline is
designed to carry approximately
22 million tonnes of oil per year.
•The design capacity of the
natural gas pipeline is 13 Bm³. It
is expected to deliver 12 Bm³ of
gas to China every year, while
reserving1Bm³ of gas for
Myanmar's domestic use
•Gas extracted from the Yetagun
project started flowing to
Thailand in 2000 at about 200
mmcfd. In August 2004, this
figure doubled after four new
wells went online. With the new
wells, overall production climbed
to 500 mmcfd, with 400 mmcfd
exported to Thailand.
•The offshore Yadana gas project,
where Total is the operator of the
project, exports 600 mmcfd to
Thailand. About 200 mmcfd are
used to meet Myanmar’s domestic
needs.
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CFG participated in Myanmar’s Nov. 2013 offshore
bidding round along with Transcontinental Resource
Group (TRG) and Myanmar’s KMA Group.
Under the terms of the bidding agreement, TRG will be
carried through the seismic program after which it
needs to elect to participate for a 10% interest or
convert to a 0.33% GOR. KMA will receive a10% carried
interest through the exploration program.
CFG was awarded Shallow Offshore Block M-15 on
March 2014. Under the terms of joint bid, CFG will
undertake a seismic program and drill two wells.
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Block M-15 is located in the Andaman Sea, within the Tanintharyi Offshore basin, which is off
Myanmar’s southern Tanintharyi coast.
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The area of block M-15 covers 12,150 square km.
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One of the biggest offshore gas fields in Myanmar, Yetagun gas field, is located 60 km to the
north of M-15. The Yetagun field contains an estimated 4.2 trillion cubic feet of recoverable
gas. Daily production is about 400 mmcf/day with 12,000 bbl/day condensate.
According to regional magnetic information, M-15 is located at the Transgression/regression
channel area from Eocene to Miocene age. Both Clastic and Carbonate reservoirs are
prospective targets within this block.
One well, M15-B1, was drilled in January 2005. The well was drilled to 3440 ft and abandoned.
An evaluation of the data has led to the determination that the well was drilled too shallow.
Approximately 1753 line km of 2D-seismic has been acquired. Previous geophysical and
geological work had identified several prospects with potential from 1 TCF to 5 TCF gas and
indicate significant structural and stratigraphic traps. Additional 2D and 3D seismic work are
required to identify the most promising closures.
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The objective of drilling M15B-1well was to test
the hydrocarbon potential of the Oligocene/Early
Miocene Carbonate reef build up which is a
combination of stratigraphic/structural play.
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lower Miocene clastic sandstone reservoir.
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Upper Oligocene reservoir
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Spud Date -12 January 2005
Depth -3440 ft
Water Depth -925 ft
Primary objective found at 1152 ft .
Porosity 27% .
Temperature gradient is 1.94 deg F/ 100’.
Plug & Abandon .
(Yetagun Temp. gradient is 2.65 deg F/ 100’)
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Bank: Royal Bank of Canada
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Legal Firm: McCarthy Tétrault LLP, DFDL
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Engineering: D&M
Kevin Flaherty
Executive Director
Canadian Foresight Group Ltd.
Mobile: +84 978 706 255
Email: kevin.flaherty@saigonam.com
TMS Building, 12th Floor
172 Hai BaTrung Street, District 1
Ho Chi Minh City, Vietnam
Telephone: +84-8-54043488