FY14 half year results Ian Davies Managing Director and CEO Andrew Price Chief Financial Officer Brisbane 24 February 2014
Overview Ian Davies Managing Director and CEO Delivering the strategy H1 FY14 results Delivering a gas business Full year FY14 outlook 3
H1 FY14 highlights First half production of On track to deliver FY14 PRODUCTION 0.65 million barrels with 2P reserve adds RESERVES acceleration underway into guidance of 4 million to second half 6 million barrels1 On track to…
An important commitment to the community Senex broadened its commitment to the South Australian community in November, announcing a strategic partnership with the Royal Flying Doctor Service and pledging 300,000 over three years 5
Delivering the strategy Oil: Growing value through increasing production, reserves and margin Operations Oil production of 0.65 million barrels in H1 FY14 Continually reducing operating costs: 29 per barrel in H1 FY141 Exploration…
Exploration and appraisal success in H1 FY14 More than 450 leads and prospects identified across Senexs extensive acreage position Targeting low hanging fruit ahead of greenfield exploration Several great examples in H1 FY14: -…
Tight oil project initiated to unlock a regionally extensive resource Net contingent oil resource of 10.4 million barrels 3C and 4.9 million barrels 2C across the Murta Formation in Senex-operated permits Low cost, high productivity…
Andrew Price Chief Financial Officer Delivering the strategy H1 FY14 results Delivering a gas business Full year FY14 outlook 10
Highly profitable business million 31 Dec 2013 31 Dec 2012 Change Revenue 88.3 77.3 14% High margin oil Gross profit 51.3 40.7 26% sales NPAT1 25.6 23.4 9% Strong cash generation Underlying profit2 31.8 23.4 36% Fully funded…
Strong operating cash flow and no debt Net cash flow movement for the 6 months ended 31 December 2013 180 44.3 32.8 160 140 46.5 120 126.8 100 'millions 20.0 1.3 102.4 8.0 80 13 out of 15 oil wells Sale of 60…
A profitable and growing business 40 Movement in NPAT between 31 December 2012 and 31 December 2013 35 11.8 0.4 1.5 5.0 30 6.2 31.8 Cost of sales reduced from 2.7 25 31/bbl to 29/bbl 25.6 (excluding 'millions 23.4…
Ian Davies Managing Director and CEO Delivering the strategy H1 FY14 results Delivering a gas business Full year FY14 outlook 14
Senex and Origin Energy agree gas farm-out Focused on early commercialisation of large-scale unconventional gas resource Two farm-out agreements: Area A: 36% of area of PEL 516 and PEL 115 (Senex 100%) Area B: 47% of area of PEL…
Transaction highlights Origin has strong east coast gas market position and extensive Cooper Basin understanding as a member of the SACB JV Senex retains exposure to upside through material equity position post farm-out Farm-in…
Partnership focused on discrete prospective areas Area A: Area B (Deeps only): 36% of area of PEL 516 and PEL 115 47% of area of PEL 514 1,031 km2 (255,000 acres) 904 km2 (223,000 acres) Focus on tight gas prospectivity of the Focus on…
Senex retains existing interest in the oil prone Shallows of Area B Area B farm-out restricted to the deeper Permian section prospective for gas Senex retains existing rights to oil potential of the Shallows PEL 514 partially…
Focused on early commercialisation Early Pilot Early Exploration Production Appraisal Program Production Stage 1: Understanding Stage 2: Building Development the resource reserves and proving commerciality Operator: Senex…
Mechanics of the transaction Work programs Senex free-carried for its interest in 67 m 252 m the first two stages Origin to earn a maximum interest of 67 67 50% in Area A and 40% in Area B: 200 80 m Area A 40 Stage 1: 65…
Ian Davies Managing Director and CEO Delivering the strategy H1 FY14 results Delivering a gas business Full year FY14 outlook 21
Delivering the strategy Continuous growth in our oil and gas business Underlying financial Zero debt and fully funded: 102.5 million in strength cash and liquid assets as at 31 December 2013 On track to deliver capital expenditure…
Registered Office Level 14, 144 Edward Street GPO Box 2233 Brisbane Queensland 4000 Australia Telephone +61 7 3837 9900 Email infosenexenergy.com.au 23
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