Seize the opportunity Before proceeding to read further, please refer to the Disclaimer on pages 50-51 of this presentation. April 2015 1 R1
Contents Section One -Investment thesis Why Invest In Hibiscus Section Two Company background and asset portfolio Section Three A discussion on the future of Oil Section Four A special look at our Oman success story 2
Section One -Investment thesis Why Invest In Hibiscus 3
Key Investment Themes Hibiscus is structured to withstand industry and Resilience market volatility through its diversified asset base and balanced portfolio strategy. Hibiscus can reconfigure its project approach and Agility…
Key strengths RESILIENCE Low correlation to market volatility Healthy Cash Balance and Zero Debt Diversified asset base and balanced portfolio strategy Ability to leverage and raise capital 5
Asset Base & Work Program NORWAY Hibiscus Oilfield Services Ltd 2 to 15 Licenses 10.5%* MIDDLE EAST Project Manager for exploration Exploration Stakes drilling, development and production Oman Block 50 22% activities 1H 2015…
Resources and Reserves (post PL338C Norway Project) 2P + 2C Oil Reserves (MMbbls)* Prospective Resources (MMbbls/MMboe)* 43.0 6.9 67.1 8.0 246.4 10.5 1,135.0 4.3 Norway 2 to 10.5% Australia - West Seahorse: 100%…
Hibiscus Strategy PROSPECTIVE CONTINGENT RESOURCES RESOURCES RESERVES DECREASING RISK Highest value creation takes place in the /boe, risked exploration phase Cash-flow generated from production funds when discoveries are…
Key strengths AGILITY High calibre management team Rapid reconfiguration of project ownership and structures Scalable project execution to maximise returns on resources Swift response to new opportunities and…
Board of Directors Zainul Rahim bin Mohd Zain (Non-Independent Non-Executive Chairman) 180 Chairman Shell Companies Egypt and Deputy Chairman Shell Companies Malaysia Formerly on the board of Petronas Carigali (2010 - 2014) 160 Dr…
Management Team Joyce Vasudevan (Chief Financial Officer) Vincent Lee (Deputy Chief Financial Vincent Lee (Deputy FormerCFO) Head of Strategic & Operations Planning Unit at Officer) SapuraCrest Petroleum Berhad Formerly with…
Plan for Success (Development) Planning for Success offers a compelling RISK / REWARD ratio: Planning for Success requires a very SMALL INVESTMENT The REWARD is potentially 12 18 months earlier First Oil Large Operators have…
Key strengths STRATEGIC AND AGGRESSIVE IN PURSUING RETURNS Perpetual capital build to achieve scale Unrelenting focus on high return assets Use of advanced exploration technology Ability to lower project costs in current…
Achieving Scale 2016 Mission Moving towards a 100MMbbls/boe reserves target Current Projects- Drilling & Resources Development Unrisked prospective resources activities targeted (mmbls/boe) To be a Respected Independent E&P…
Forward Execution of Strategy Aggressive schedule with four to six exploration wells plus one appraisal well in 2015. A success in any one exploration well would be transformational. 2015 Stage Block J F M A M J J A S O N D…
New Opportunities Examples of project types being explored Development of proven reserve Opportunity 1 Field located in Malaysia Acquisition of producing asset Opportunity 2 Field located in Europe Opportunity 3…
Part Two - Company Background and Assets 17
Timeline of What Weve Achieved VIC/P57 FDP approved and 3.00 Production License Offered (5 December 2013) Oman Drilling Program Commences (25 November 2013) Additional Concessions in Norway (2 May 2012) and RAK (10 April 2012)…
Hibiscus Share price vs Oil Price Movement of Oil Price vs Share Price 120 1.8000 16 January 2015 14 October 2014 Announcement in relation to the acquisition of shares by Hibiscus Proposed Placement of up to ten percent Upstream Sdn.…
Capital Structure Capital Structure : 31 March 2015 Price Mkt Cap Non-Independent Directors and Management hold largest block (18.2%) Total Number (RM) RM000 Diversified shareholder base Total Number of Most large shareholders are…
Overview of our Assets HIBISCUS PETROLEUM BERHAD (Listed on Bursa Malaysia) Lime (Private) 35% 13% 3D Oil HiRex 41% (Listed- ASX) (Private) Middle East Norway 55% 20% VIC/ P57* RAK Offshore 59% PL 498 25% PL 503C 12.5% VIC/…
EXPLORATION ASSETS 22
Sharjah Offshore Asset Name: Sharjah Offshore Asset Type: Exploration Country: United Arab Emirates Project Manager: Hibiscus Acquisition Date: June 2011 Water Depth/ Size: Up to 350 m/ 1600km2 Discovery increases GCOS and…
Sea Lion Asset Name: Sea Lion (VIC/P57) Asset Type: Exploration Country: Australia Operator: Hibiscus Acquisition Date: January 2013 Water Depth/ Size: Up to 150m/ 460km2 Participating Interest: 55.1% (Concession Operator) (63%…
Lime Norway 2015 Drilling Through Lime Norway, Hibiscus will be participating in the drilling of four exploration and one appraisal well on the Norwegian Continental Shelf. PL591 Lime Norway Stake: 25% (20% - Subject to Reg. PL708 Lime…
DEVELOPMENT ASSETS 26
L-31 West Seahorse Field (Australia) Asset Name: West Seahorse (VIC/L31) Asset Type: Development Acquisition Date: January 2013 Operator: Hibiscus Participating Interest: 100% (Concession operator) Timing for FID: December 2014…
Our Oman success story Asset Name: Oman Block 50 Asset Type: Development Country: Oman Project Manager: Hibiscus Effective Date: August 2011 Water Depth/ Size: Up to 150m/ 16,900km2 Participating Interest: 22.4% (through Lime)…
Oman Development Completed within 3 years as opposed to normal cycle of 3 to 5 years Early Q2 2011 2015 2016 2014 2014 Seismic acquisition/ Successful Review of processing and Multi-well License Rig oil discovery technical…
PRODUCTION ASSET* *Pending completion of acquisition of 100% of Talisman Resources JPDA (06 105) Pty Ltd 30
Kitan Oil Field Asset Name: Kitan Oil Field (JPDA 06105)* Asset Type: Production Country: Joint Petroleum Development Authority (Australia Timor Leste) Operator: ENI Agreement Date: June 2014 Water Depth/ Size: Up to 330m/ 85 km2…
Part Three - A discussion on the future of Oil 32
Oil Price from March 30, 1987 March 30, 2015 160 140 Europe Brent Spot Price (Dollars per Barrel) 120 100 80 60 40 20 0 33
Oil Price Impact Factors Softer Demand China Europe Energy Efficiency Gains Technology Solar Wind LNG Effect Stranded gas from floating LNG becomes viable Large investments making more gas transportable Supply US Shale…
Is Cheap Oil Sustainable Winners World Economy Shifting resources from producers to consumers China & India Agriculture based countries America Largest consumer and importer of oil Losers America Largest producer of oil OPEC…
Shale Breakeven Prices US Shale Breakeven Prices 36
Why smaller companies will thrive Field Size by Production Total No. of Pre Volume (bbls/day) Production 1950s 1960s 1970s 1980s 1990s Fields 1950s (bbls/day) 1,000,000+ 4 8,000,000 2 1 1 500,000 1,000,000 10 5,900,000 2 3 3 1 1…
Part Four Our Oman success story 38
Block 50 History - 1 Block Name : Block 50, Sultanate of Oman Date Acquired : August 2011 Water Depth : Up to 150m Size : 16,900km2 Operator History Company Year Started Work Completed Sun Oil 1976 OMAN Drilled 3 prospects…
Masirah Oil Limited Listed in Singapore Listed in Malaysia Based in Switzerland An independent E&P company An independent E&P company Private Bank Rex International Hibiscus Petroleum Schroder & Co Holdings Berhad Banque S.A.…
Block 50 Potential Between 1976 - 2008, extensive seismic and exploration drilling activities were done without success. Why did Masirah Oil believe there was potential in the basin 41
Investment Rationale - 1 A Offshore structure mirrors prolific onshore basin Masirah Bay includes equivalents of the Abu Mahara and deeper, Nafun, Wasia and Tertiary B A B OMAN ONSHORE OMAN OFFSHORE 42
Work Programme Strategy Comprised of 3 phases Phase 1 Apply new technology; Detailed desktop review of Preliminary Rex Virtual Drilling prior datasets prospects Plan for Success Phase 2 Data acquisition, Define well…
Positives - A Discovery During a 48-hour test, hydrocarbons were flowed to the surface and the well achieved light oil flow rate of up to 3000 stock tank barrels per day with no water production. First discovery after 30 years…
Oman - Summary & Opportunities First offshore discovery East Oman in 30 years Perform additional 3D seismic (ongoing) Appraise GA South with an Extended Well Test Utilize an EWT concept that can be relocated to test other…
Appendix 46
Petroleum Economics Increasing Commerciality Low High Low Undiscovered - Discovered - Prospective Contingent Discovered - Resources Resources Reserves Range of Certainty High Estimate 3C 3P Best Estimate 2C 2P Low…
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