1st Quarter 2013 Operating and Financial Results May 14, 2013
Non-IFRS Financial Measures References are made in this presentation to certain financial measures that do not have any standardized meanings prescribed by International Financial Reporting Standards (IFRS). Such measures are neither…
Disclosure of Reserves; Defined Terms The reserves shown in this presentation are estimates only and should not be construed as exact quantities. Proved reserves are those reserves which can be estimated with a high degree of certainty to…
Q1 2013 Results at a Glance (vs. Q4 2012) 17% EBITDAX(1) US76mm 8% Production 1.68mmboe 9% EBITDAX per boe US45/boe Funds from 21% Operations(1) US65mm Net Profit 24% after Tax US30mm NetWells Net Wells on 16% Production…
Eagle Ford Focused Developing highly contiguous 79,700 gross (21,800 net) acres in the Sugarkane field KEY METRICS including recently announced acquisition Market Cap (2) (US) 1.43 billion (3) FY2012 EBITDAX (US) 167 million Q1…
Operational Overview
Quarterly Production Growth Aurora Quarterly Net and Gross Daily Production FY 2012 / Q1 2013 20000 18000 Average daily liquids hydrocarbons (boe/d) 16000 Average daily gas rate (boe/d) Average Daily Production (boe/d)…
Operated Position 100% operated interest in 2,700 net acres - all held by production(1) 11 producing wells 6.7 mmboe net 1P reserves, 84% liquids (2) Upside potential from additional horizons Interests in facilities and marketing…
Non-Operated Position Low risk, repeatable Eagle Ford inventory 19,100 net acre position 800(1) gross proved well locations on predominantly 80 acre spacing WI% from 28% to 36% in Karnes, and 9.1% in Atascosa Counties Q1 13…
Update on Acreage and Resource Aurora highly encouraged by results to date from downspacing pilot program Four wells at 40 acre Four wells at 40 acre spacing - producing Additional activities include: spacing - producing Production…
Financial Overview
Framework for Growth Quarter by Quarter growth rates Net Profit After Tax (US mm) Revenue1 (US Revenue(1) (USmm) mm) Average Production (boepd) CQGR 36% CQGR 34% CQGR 41 % 18,655 29.6 127.5 Q1'13 13,763 Q1'13 Q1'13 16,907 23.8…
Aurora Production mix and netbacks Q1 2013 High Valued, Liquids weighted Gas 20% Oil 34% Based on gross Q1 2013 production of 1.68 mmboe NGL 16% Production Operating Netback US47.31/boe Cond 30% EBITDAX US45.04/boe NPAT…
Financial Liquidity Strong liquidity well positioned for forward programs March 31, 2013 US Millions Cash on hand 177 Trade and other receivables 72 Trade and other payables (160) Working capital as at March 31, 2013 89…
Balance Sheet - Debt Metrics Continued quarter on quarter production and earnings growth strengthens debt metrics on existing long term unsecured debt. Long term debt repayments structured for well after project capacity to repay out…
Debt Metrics Peer Group Comparison Q1 2013 Net Debt / EBITDAX (annualised) Total Debt / EV 5 100% Net Debt / EBITDAX multiple Total Debt / EV % 4 average 2.3 80% average 49% 3 60% 2 40% 1 20% 0 0% peer group companies…
Hedging Summary as of May 1, 2013 Collars Swaps Total Volume (no premium) WTI (1) LLS (2) WTI (1) Hedged Avg. Hedge Avg. Hedge Avg. Floor Avg. Cap Oil Hedged Oil Hedged Oil Hedged Price Price Price Price Average (mbbls)…
Summary Pure Eagle Ford Shale producer Rapid production, revenue and profit growth Oil and condensate focused growth in reserves Strong management team and experienced partner Fully funded with capital allocation…
Appendices
Corporate Summary Key Facts millions Fully paid ordinary shares 448 Options on issue (varied prices) 6.3 Executive Performance Rights (1) 3.1 Fully diluted capital 456 Liquidity Balance - March 31, 2013 US289 Senior Unsecured Notes…
Return Focused and Disciplined Capital Program Beyond Eagle Ford Development and Drilled Leases to HBP Status Efficiencies 90% leasehold HBP 216 gross and 50 net wells producing Capital Beyond 2013 Infield gathering system and…
2013 Guidance Average Net Quarterly Production 2012, Exit 2013 Spud 45 to 50 net wells 18,000(1) 14 to 19 operated 12,474 30 to 32 non-operated 9,266 Capex budget of 430-465mm 6,148 3,506 Dec 2013 average production of 23 to…
Reserves Non operated Dec 31, 2012 (1) Possible reserves are those reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will be equal to or exceed…
Balance Sheet Debt Notes unsecured Reserve Based Borrowing (Revolver) secured Initial Notes Issue US365 mm at 9.75% pa US200 mm available from a syndicate of US due Feb 2017 and international banks Second Notes Issue US300 mm at…
Financial Summary Selected Financial Data Selected financial data Qtr Qtr Qtr Qtr Qtr 12 Months to (US in thousands) Jun-12 Sep-12 Dec-12 Mar-13 Mar-13 Mar-13 PRODUCTION: Total net production (boe) - pre-royalty 761,135 1,152,981…
EBITDA/EBITDAX Reconciliation(1) Three months ended LTM Year ended Mar 31, 2013 Dec 31, 2012 Mar 31, 2013 Dec 31, 2012 US'000 US'000 US'000 US'000 Net profit after tax 29,611 23,798 79,752 58,846 Adjustments: Share based payment…
Funds from Operations Reconciliation(1) Three months ended LTM Year ended Mar 31, 2013 Dec 31, 2012 Mar 31, 2013 Dec 31, 2012 US'000 US'000 US'000 US'000 Net profit after tax 29,611 23,798 79,752 58,846 Add/(less) non-cash items…
Peer Group Summary Information Name Carrizo Forest Kodiak Oasis Penn Virginia PetroQuest Rosetta Sanchez Swift Ticker CRZO FST KOG OAS PVA PQ ROSE SN SFY NYSE/NASDAQ Eagle Ford Mid-Continent, Shale, Barnett, Texas East Texas,…
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