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Half year 2013 Results Briefing – Drillsearch Energy, Ltd.

Drillsearch Energy, Ltd. · Feb 21, 2013 · 26 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. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 1
    1 HY 2013 Results Half-year 2013 Results Briefing Delivering on a focused strategy. 21 FEBRUARY 2013
  2. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 2
    2 HY 2013 Results Growth platform and strategy Brad Lingo Managing Director
  3. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 3
    3 Highlights HY 2013 Results 69% increase in 859% uplift in 708% uplift in Successful total 2P Reserves total production cash flow takeover of Acer to 18.7 mmboe Increase to 429% uplift in oil 448% increase in Western Flank…
  4. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 4
    4 Growth Platform and Strategy HY 2013 Results NEAR TERM Western Flank and Inland-Cook Oil Fairways Develop new oil discoveries Accelerate 3D seismic-based exploration Expand production capabilities Western and Northern Wet…
  5. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 5
    5 HY 2013 Overview HY 2013 Results 117% increase in 2P Reserves 47% increase in 2P Reserves Completed the largest onshore to 7.8 mmboe to 11.0 mmboe 3D seismic acquisition in Australia 7 oil discoveries in the Expansion of Wet…
  6. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 6
    6 HY 2013 Overview Reserves Growth HY 2013 Results 69% uplift in total 2P Reserves for HY 2013 to 18.7 mmboe. Key drivers were; - Appraisal drilling at Bauer Oil Field in PEL 91 - Pennington-1 oil discovery in PEL 91 -…
  7. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 7
    7 HY 2013 Overview - Production HY 2013 Results Total HY2013 production of 318,563 boe an increase of 859% (HY 2012 of 33,217 boe) Current Drillsearch daily net oil production of over 2,300 bopd increasing to roughly 6,000…
  8. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 8
    8 HY 2013 Results HY 2013 Results Ian Bucknell Chief Financial Director
  9. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 9
    9 HY 2013 Results Financial Highlights HY 2013 Results Significant increase of 448% in total revenue Positive EBITDAX 1113% increase 3.0m in Gross Profit to 12.1m Successful Acer Significant Acquisition cash…
  10. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 10
    10 Financial Overview HY 2013 Results HY12 HY11 Delta % Sales volume (Mmboe) 0.4mboe 0.1mboe 482% Sales Revenue (m) 25.4 4.6 448% Cash flow from operations (m) 10.2 0.6 1503% Gross Profit (m) 12.1 1.0 1113% EBITDAX (m) 3.0…
  11. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 11
    11 HY 2013 Results Profit Overview HY 2013 Results Significant increase of 448% in HY 2013 Sales Revenue HY 2013 Gross Profit margin of 48% compared to 36% in FY 2012
  12. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 12
    12 HY 2013 Results Operating Results HY 2013 Results 1113% increase to year-on-year gross profit as a result of increased production, steady average realised oil price and successfully control of operating costs
  13. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 13
    13 HY 2013 Results Cash Position and Funding HY 2013 Results Cash reserves at 31 December 2013 of 83.3m including Debt Service Reserve of 20m Cash flow generated by operations increased 1,503% to 10.2m from HY 2012 (0.6m)…
  14. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 14
    14 HY 2013 Results Balance Sheet HY 2013 Results December June Delta The Acer Acquisition has had the 2012 2012 largest impact on the Financials 000 000 % in the half year Cash and bank balances 63,270 45,611 39% Strengthened…
  15. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 15
    15 Acer Energy Transaction Impact on Cash Flow HY 2013 Results The net cash utilised by Drillsearch in completing the Acer Energy transaction to December 2012 was 12.0m A further 7.0m was paid in January 2013 in respect of the…
  16. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 16
    16 Acer Energy Transaction Impact on Balance Sheet HY 2013 Results Other than cash (already discussed) the main impact on the Drillsearch balance sheet from the Acer transaction was on exploration and evaluation assets This has…
  17. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 17
    17 Acer Energy Transaction Impact on Profit & Loss HY 2013 Results Excluding Acer Energy, Drillsearch would have made an after tax profit of 4.0m Including Acer Energy, Drillsearch has made an after tax loss of 4.3m
  18. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 18
    18 HY 2013 Results Outlook and work program FY 2013 Brad Lingo Managing Director
  19. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 19
    19 Outlook and Work Program FY 2013 HY 2013 Results Bring new discoveries into Expand and extend Wet Gas Case and test Western Cooper production Pilot Project unconventional targets in Wet Complete and test Wet Gas Gas drilling…
  20. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 20
    20 HY 2013 Results Half-year 2013 Results Briefing Appendix 21 FEBRUARY 2013
  21. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 21
    21 HY 2013 Results Financial Highlights HY 2013 Results December December Financial Highlights Delta Delta % 2012 2011 Sales Revenue (000) 25,427 4,641 20,786 448% Gross Profit (000) 12,098 997 11,101 1113% Loss after tax (000)…
  22. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 22
    22 HY 2013 Results Profit Overview HY 2013 Results December December Delta Delta 2012 2011 000 000 000 % Sales Revenue 25,427 4,641 20,786 448% EBITDAX 2,966 (554) 3,520 n/m EBIT (430) (2,321) 1,891 81% Finance costs (2,104)…
  23. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 23
    23 HY 2013 Results Operating Results HY 2013 Results December December Delta Delta 2012 2011 Production Volumes boe boe boe % Eastern Margin Oil (Tintaburra) 24,561 32,108 (7,547) -24% Western Flank Oil 151,293 1,109 150,184…
  24. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 24
    24 HY 2013 Results Cash Position and Funding HY 2013 Results December December Delta Delta 2012 2011 000 000 000 % Opening Cash 45,695 50,259 (4,564) -9% Cash generated from operations 11,216 769 10,447 1359% Exploration…
  25. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 25
    25 Strong management team and board HY 2013 Results Through FY 2013 the Company has continued to build a robust technical and operational team capable of delivering on the large work program planned for FY 2013 Brad Lingo Ian…
  26. Half year 2013 Results Briefing – Drillsearch Energy, Ltd. – slide 26
    28 Competent Person Statements HY 2013 Results DeGolyer and MacNaughton The information contained in our report entitled Report as of December 31, 2012 on Reserves and Contingent Resources of Certain Fields in the PEL 106A, 106B,…

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