Discovering Hidden Value Investor Presentation October 2013 Discovering Hidden Value
Creating Value Through Exploration Led Growth Significant gearing to exploration success Atlantic Margin, Mediterranean, North Sea; Exploration 300 million exploration spend per annum led growth Frontier wells targeting 4 billion…
Strategic Delivery Commencing an active operational period after building balanced portfolio Multi-well exploration campaign over next 12 Create months with increased targets: Value 4 billion boe gross mean unrisked prospective…
Funding and Capital Allocation Funding Financial Assets at 30 June 2013 Financial assets in excess of 2.4bn* Cash 1.5bn Debt finance to be secured Free cash flow from completed development projects Cairn India (CIL) Stake…
Funding Platform for Ongoing Business Development Projects 9/1b Cairn 40% 9/1a Cairn 100% 9/2b Cairn 25% (Non-Op) (Op) (Non-Op) Kraken Project sanction expected H2 2013 K Prospect Kraken Operators gross reserves…
Exploration Strategy To seek hidden value through transformational exploration potential Frontier Basin Exploration Mature Basin Exploration Frontier and potentially high impact New plays and prospectivity close to exploration…
Geological Focus North Atlantic Margin Play fairways associated with super-continental break-up UK and Ireland Norway West Greenland Greenland Norway South Greenland Ireland Spain Morocco 175Ma Middle Jurassic…
Frontier Exploration North Atlantic Margin Different Geographies Similar Geologies G Schematic WS NS True frontier province with proven Jurassic and Cretaceous oil prone source rocks in incipient rift and restricted marine basin…
June 30th Snapshot of Prospect Inventory PoCS vs. Gross Unrisked - Prospects PoCS vs. Gross Unrisked - All Prospects - Current 70% 62* Prospects Marginal / (and 144 leads still being Sub-Commercial worked on but not shown)…
Morocco Frontier Exploration Atlantic Margin Nova Scotia Offshore Activity Extensive industry focus on new Shell, BP, Chevron, play types Exxon, and EnCana Schematic Plate Reconstruction - After Luheshi 2012 Proven hydrocarbon…
Morocco Foum Draa Prospect and Planned Exploration Well (Q3/Q4 2013) Foum Draa Acreage Rak-1 Seismic Amplitude at Reservoir Level 3,337 km2 Spain (2004, Shell) Planned Foum Draa N A Prospect Exploration Well Foum Draa Offshore…
Morocco Cap Juby Prospect and Planned Exploration Well (H2 2013) Middle Jurassic Carbonate Depth Map Juby Maritime Acreage 2 km N Spain 5,600 km2 Morocco Foum Draa Offshore 1, 2 & 3 Juby Maritime I Mauritania Senegal…
Cairn in Senegal Proven hydrocarbon system Substantial acreage position Tiof Banda Chinguetti 7,490 km Tevet (equivalent to 33 UK North Sea blocks) Mauritania Mauritania 2,050 km 3D seismic survey Shell Faucon Conjugate Margin…
Senegal Shelf Prospect and Planned Exploration Well (H1 2014) Atlantic Margin Planned Sangomar Deep Shelf Prospect Exploration Well Total Acreage 7,490km2 Senegal Cairn Volumetric Estimates Gross Mean Unrisked Prospective Resource…
Senegal Deepwater Fan Prospect and Planned Exploration Well (H1 2014) Atlantic Margin Total Acreage Spain W Proposed Well Location E 7,490km2 Rufisque Wells (1968-72, Esso) Planned Sangomar Deep Rufisque Senegal North Fan…
Ireland Spanish Point Discovery and Planned Exploration Well (H1 2014) Spanish Point discovery Spanish Point Total Acreage 2,753km2 Spanish Point and located in the Porcupine Upper Jurassic Burren Discoveries Trough, first appraisal…
Greenland Frontier Exploration Atlantic Margin First phase exploration completed: Extensive knowledge, database and operating capability Primary area North East Bid Rounds 2D seismic 85,000 km of focus Pitu 3 and 4 2 x 3D seismic…
Greenland Pitu Prospects and Planned Exploration Well (H2 2014) Amplitudes confirm Direct Cairn Volumetric Estimates for A Hydrocarbon Indicators and A positive AVO responses Pitu Composite Prospect WSW ENE Potential Well Location…
Mauritania Early Entry to a Proven Fairway Slope Channel Complexes Spain Morocco Paleocene Depth Surface Block C19 (35%) Morocco 3,500 km2 3D seismic C-19 (PSDM processing Mauritania ongoing) Senegal 2 shelf wells on the…
Mature Basin UK North Sea and Norwegian Continental Shelf Asset Exchange & Portfolio Rationalisation Klara 6507/3a Mariner divestment Acreage swap with Statoil includes Klara exploration well TAQA and Premier transaction Future…
Cairn India CIL, with strategic focus on value growth in India, listed on the Bombay Stock exchange in 2007: Rajasthan Current market cap 10 billion INDIA CB/OS-2 Cairn Energy PLC holds 10% interest Ravva Current operated…
Delivery of Strategy Balanced portfolio delivered Cairn Business Today Re-geared to drill bit frontier well programme commences September 2013 Exploration Value add partnerships; ConocoPhillips, Statoil Cairn India Key field…
Appendix Discovering Hidden Value Investor Presentation, September 2013 25
Business Model for Growth and Re-gearing Realise Value Realise Value Return Value to Shareholders Create Value Create Value Create Value Discovering Hidden Value Investor Presentation, September 2013 26
Current Assets and Investments Ireland Spanish Point and Burren FEL 2/04 38 licences held in the UK and FEL 4/08 and LO 11/2 Norwegian sectors of the North Sea including: Norway UK Skarfjell Kraken 9/2b 35/8 & 35/9 Catcher 28/9…
Partnerships Past and Present India ONGC Morocco Petrocon ONHYM Ravva Oil (Marubeni) Genel TATA San Leon Energy ENI Shell Serica Energy Longreach Oil and Gas Bangladesh Santos International Holdings Pty Ltd Senegal HBR…
Management Simon Thomson Mike Watts Chief Executive Deputy Chief Executive Dr Mike Watts is Deputy Chief Executive and has more than 33 Simon Thomson joined Cairn in 1995 as a lawyer. He was appointed years experience in the oil…
Management Richard Heaton Paul Mayland Director of Exploration Chief Operating Officer After graduating from Leeds and Durham universities in the UK, Paul holds a B.Eng (1st Class) Engineering and M.Eng in Petroleum Richard began…
Loading...
