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EXTRAORDINARY GENERAL MEETING – Premier Oil

Premier Oil · Nov 12, 1999 · 13 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 1
    Capital Injection and Strategic Alliance with and A new Premier with Stronger Finances and Competitive Advantage in Asia A Primary Investment Vehicle for Petronas and Amerada Hess in Asia 12th November 1999 Extraordinary…
  2. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 2
    TRANSACTION SUMMARY Premier to become a primary investment vehicle for Petronas and Amerada Hess in Asia Petronas and Amerada Hess to become 25% shareholders through injection of 136m of cash via a combination of new voting and…
  3. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 3
    RATIONALE FOR THE TRANSACTION Strengthens balance sheet - Enables retention of key assets Introduces Petronas as a key strategic partner - The partner of choice in Asia - Builds on existing Yetagun relationship Reinforces…
  4. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 4
    CORPORATE GOVERNANCE & MANAGEMENT Majority of Directors will be independent from major shareholders An Operations Director will be appointed Amerada Hess and Petronas each have two non-executive directors Extraordinary…
  5. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 5
    BACKGROUND Declared Asia gas focus Proven track record of finding and developing world class gas projects in Asia at low cost Reserve growth of 500% over 5 years Cashflows are low compared to capex requirements Financial…
  6. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 6
    FIELD CAPEX & PRODUCTION FORECAST 140 80,000 Field Capital Expenditure ( million) 120 60,000 100 Production (boepd) 80 40,000 60 40 20,000 20 Field Capex Production (WI) Source: BROKERS ESTIMATES 0 0 1999…
  7. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 7
    BALANCE SHEET STRENGTH & FLEXIBILITY 600 300 Interims Gearing (net debt/net assets) (%) Proforma 399m 205% 400 200 million 263m Covenant 122 105% 200 100 80% 37% 0 0 Net Debt Gearing Lender Gearing…
  8. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 8
    THE FIT OF PREMIER ,PETRONAS & AMERADA HESS Creates the major Asian gas player - Petronas the leading NOC in Asia - Premiers Asian track record and reserves position - Amerada technical and operational advantage Potential for…
  9. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 9
    PREMIER OUTLOOK Create the Leading Independent in Asia Premier Today - New funding - Capacity to realise the full value of existing assets The Alliance Vision - Creation of a new high growth investment vehicle for Asian Gas -…
  10. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 10
    ALLIANCE VISION IN ASIA Major Asian gas player working in deregulated markets Key participant in Asean gas grid Significant added value potential from combining assets Premier assets Amerada assets Petronas assets…
  11. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 11
    SUMMARY OF THE DEAL On track to increase production to over 60 mboed Clear synergies with Petronas and Amerada Greater potential to extract further value from existing Asian asset s Access to infrastructure and downstream…
  12. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 12
    Capital Injection and Strategic Alliance with and A new Premier with Stronger Finances and Competitive Advantage in Asia A Primary Investment Vehicle for Petronas and Amerada Hess in Asia 12th November 1999 Extraordinary…
  13. EXTRAORDINARY GENERAL MEETING – Premier Oil – slide 13
    INDONESIA - WEST NATUNA PROJECT SYNERGIES Natuna Sea Block I Block A (Area III) Natuna Sea Block V Duyong Kerteh Natuna Sea Block IV Malaysia Port Klang Kuala Lumpur Port Dickson Dumai SINGAPORE Additional Gas…

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