2001 INTERIM RESULTS PRESENTATION 17th September 2001
2001 Interim Results Presentation PRESENTATION Key Issues Charles Jamieson Results John van der Welle Operations Richard Liddell Summary Charles Jamieson Make a Difference
2001 Interim Results Presentation RESULTS OVERVIEW Production 35.3 mboed (2000 : 25.9 mboed) up 36% Operating profit 44.6 million (2000 : 17.8 million) up 151% Profit before tax 24.8 million (2000 : 12.6 million) up 97% Net…
2001 Interim Results Presentation PORTFOLIO MANAGEMENT - SUMMARY Restructuring of Pakistan business New joint venture with Kufpec Increased production, reduced capex Disposal of non-core Indonesian interest (Pangkah) Raises cash…
2001 Interim Results Presentation KEY ISSUES FOR INVESTORS Shareholder structure Production Portfolio management / cash flow / gearing Commercialisation of gas reserves Exploration and replenishment of portfolio Make a…
2001 Interim Results Presentation SHAREHOLDER STRUCTURE It is widely acknowledged by analysts and other commentators that Premiers share price does not adequately reflect the value of our oil and gas reserves or the potential of…
2001 Interim Results Presentation PRODUCTION IN 2001 60000 Forecast physical production for 2001 revised 50000 to 40,000 boepd from 50,000 boepd: 40000 3,500 boepd covered by Yetagun and WNG take or pay Net Boepd 1,700 boepd…
2001 Interim Results Presentation PORTFOLIO MANAGEMENT - DETAILS INDONESIA Pangkah Sale to Amerada Hess for 30m PAKISTAN Shell Termination of joint venture Acquisition of 49.9% of PSP shares Reduction in interest in Bhit to…
2001 Interim Results Presentation PREMIER INTEREST IN PAKISTAN Before Movement After Qadirpur 4.75% - 4.75% Kadanwari 7.89% +7.89% 15.79% Zamzama pre commerciality 11.88% - 11.88% Zamzama post commerciality 9.38% - 9.38% Bhit…
2001 Interim Results Presentation COMMERCIALISATION OF GAS RESERVES Pakistan Zamzama - allocation of 350 mmscfd (gross) - negotiations concluded by end of year Indonesia WNG - negotiations in progress for sales to Malaysia -…
2001 Interim Results Presentation EXPLORATION AND REPLENISHMENT OF PORTFOLIO 2001 programme Indonesia - Pangkah programme - Q1 Pakistan - Kadanwari West - Q3 - Zarghun North - Q4 Significant seismic programmes in Area IV in…
2001 Interim Results Presentation GUINEA-BISSAU This is an under explored area - only 10 wells have been drilled offshore Guinea Bissau None of these wells has tested the play type being evaluated by Premier Most wells…
2001 Interim Results Presentation RESULTS Make a Difference
2001 Interim Results Presentation RESULTS OVERVIEW AND PORTFOLIO MANAGEMENT Production 35.3 mboed (2000 : 25.9 mboed) up 36% Operating profit 44.6 million (2000 : 17.8 million) up 150% Profit before tax 24.8 million (2000 : 12.6…
2001 Interim Results Presentation PROFIT & LOSS ACCOUNT 2001 2000 (restated)* Production (mboepd) 35.3 25.9 Excludes Yetagun ToP (SORP) Realised oil price (/bbl) 26.71 21.38 Realised gas price (/mcf) 2.19 2.16 1999 hedging - no…
2001 Interim Results Presentation CASHFLOW 2001 2001 2000 (Incl. JVs) (As reported) (As reported) m m m Net cashflow from operations 62 36 25 Increase in line with higher net revenues Net interest (14) (14) (11) Taxation (11) (11)…
2001 Interim Results Presentation BALANCE SHEET 2001 2001 2000 (incl. JVs) (As reported) (As restated) m m m Cash 61 36 100 Debt 533 391 346 Net debt 472 355 246 Shareholdersfunds 317 NA NA Gearing ratio 149 % NA NA…
2001 Interim Results Presentation IMPACT OF SORP ON TAKE OR PAY - YETAGUN 2001 2000 HY FY m m Deferred turnover 8.4 11.8 Reported net profit 12.4 6.1 Deferred profit 5.3 8.9 Profit including deferred profit 17.7 15.0…
2001 Interim Results Presentation FINANCIAL IMPACT OF PORTFOLIO MANAGEMENT 30/6 Pangkah Sale Pakistan Restructure Proforma 30/6 m m m m Fixed assets 696 (21) (39) 636 Net current assets 47 21 73 141 Long term creditors (426) - 1…
2001 Interim Results Presentation OPERATIONS Make a Difference
2001 Interim Results Presentation OPERATIONS HIGHLIGHTS West Natuna Gas project delivery Rapid response to operations challenges Premier delivering operations performance Make a Difference
2001 Interim Results Presentation WEST NATUNA GAS PROJECT AGX Platform installed May 2001 On time and under budget Development cost 265m (gross) Production operations established The AGX main deck being lifted from the…
2001 Interim Results Presentation RAPID RESPONSE TO OPERATIONS CHALLENGES Assets under management rapid acquisition of Proportion of production from development and production capability Premier operations - Premier in control 900…
2001 Interim Results Presentation DELIVERING OPERATIONS PERFORMANCE Make a Difference
2001 Interim Results Presentation SUMMARY Make a Difference
2001 Interim Results Presentation SUMMARY 2001 Objective Delivery Improved financial returns higher production up 36% increased profits up 4.6m Strengthened balance sheet improved cash flow up 42m reduced gearing down 42% after…
2001 INTERIM RESULTS PRESENTATION 17th September 2001
2001 Interim Results Presentation APPENDIX Make a Difference
2001 Interim Results Presentation UKNWE Scott, Rob Roy, Ivanhoe, Hamish, Telford 15/21a & 15/21b Chestnut In Production: Kyle Flora Block Scotland Kyle 31/26a, 31/26c Wytch farm Fife Area Fife 31/26a 15/21 Area including…
2001 Interim Results Presentation PAKISTAN Pakistan Bhit and Badhra Significant gas reserves In development Three gas fields on First gas end 2002 production - 4000 boepd One field in development Zarghun Zamzama Discovery…
2001 Interim Results Presentation MYANMAR Myanmar YANGON 1990 - Premier takes M12/13 Thailand licences Yadana Wang Noi 1992 - Gas discovered M12 M13 Yetagun BANGKOK 1997 - GSA signed with PTT Ratchaburi M14 1997 -…
2001 Interim Results Presentation INDONESIA West Natuna October 1996 - Premier purchased Chevron's 66.7% interest in Block A Duyong December 1996 - Premier took over Discovery Kerteh Petroleum NL thereby gaining an 18.75%…
Loading...
