2014 Half Year Results Presentation 2014 Half Year Wednesday, 27 August 2014 Results Presentation Wednesday, 20 August 2014 Alan Linn Chief Executive Officer Anthony Neilson Chief Alan LinnFinancial Officer Chief Executive…
HIGHLIGHTS Continued delivery of profitability, strong operating performance and growth Delivering value + Production of 9,487 BOEPD + On track to meet full year guidance between 8,500 and 9,500 BOEPD + Continuing profitability with…
Financial Results Anthony Neilson Chief Financial Officer
FINANCIAL RESULTS 1H14 Another strong performance with NPAT of US53.8m incorporating the after tax profit on sale of BMG of 32.6m 1H14 Comment USM Sales Revenue 143.4 Sales of 1.4 MMBOE at an average realised oil price of…
KEY FINANCIAL METRICS 1H14 2H13 1H13 Working Interest Production (MMBOE) 1.72 1.48 1.17 % Government Share of Production 14.8 8.7 6.7 Sales Volume (MMBOE) 1.39 1.3 1.10 Sales Revenue (USM) 143.4 136.9 114.1 Operating Cash Flow…
SEGMENT RESULTS Gross Profit of US33/BOE which includes an initial loss from D35 PSC due to timing of revenue not yet received in 1H14. Excluding D35 PSC the gross profit from all other fields was US45/BOE Zh Zhao Beibu B ib D35…
CASH FLOW Healthy net cash position. Capacity to fund existing projects I USM In 1H14 2H13 1H13 Opening Cash 65.1 58.1 56.8 Net Cash from Operating Activities 32.1 59.4 42.1 Development Expenditure (21.7) (40.0) (19.6) Investment…
BALANCE SHEET Net assets increased by 21% since 31 December 2013 USM 30 June 2014 31 Dec 2013 30 June 2013 Cash Assets 67.2 65.1 58.1 Capitalised Exploration Expenditure 0.7 0.6 1.1 Oil and d Gas G Assets A t 210 0 210.0…
HEDGING & TAXES Hedging + No hedging activity occurred during the period to 30 June 2014 Taxes, levies and royalties + Total tax expense of US19.1 million relates to: UK income taxes of US5.4 million (62% income tax rate) China…
Alan Linn Alan Linn Asset Update & Objectives Chief Executive Officer Chief Executive Officer Alan Linn Chief Executive Officer
HSEC PERFORMANCE ROC's continuing focus on HSE and asset 2014 LTIFR 2 integrity performance has helped produce another half with no significant process or personnel safety incidents incidents APPEA 5 year rolling average (1.0)…
CHINA ZHAO DONG Zhao Dong Oil Fields, Bohai Bay (C&D Oil Fields ROC: 24.5% & Operator; C4 Oil Field ROC: 11.667% unitised & Operator; Zhanghai ROC: 39.2% & Operator) + 1H14 production was 16,365 BOPD (gross) (Net ROC: 3 801BOPD)…
CHINA BLOCK 09/05 Block 09/05, Bohai Bay (ROC:60%1 & Operator) + 335km2 block, located 15km north from the Zhao Dong blocks + 3D seismic acquisition completed with initial drilling locations selected + Drilling of first…
CHINA - BEIBU GULF WZ 6-12 and WZ 12-8 West Oil Field Production & Development (ROC: 19.6%) + Stable production from 15 wells continued with 1H14 production of 12,545 12 545 BOPD (gross) Net ROC: 22,459 459 BOPD + Planned shut-in…
MALAYSIA D35, D21 & J4 PSC D35, D21 & J4, offshore Malaysia (ROC: 30%1) + Combined field production in 2Q14 was 3,570 BOEPD (net to ROC at 30%) + On 1 April 2014 ROC announced the farm-in to D35 PSC which includes three producing…
MALAYSIA - BALAI CLUSTER Balai Cluster Risk Service Contract, offshore, Malaysia (ROC: 48% equity investment in BCP) + PETRONAS approved the Bentara FDP phase 1 development + The Th B Bentara t Fi Field ld successfully f ll…
2014 OBJECTIVES AND GUIDANCE OBJECTIVE MEASURE Achieve five year OGP averages (Asia & Australasia) for TRIFR and HSE LTIFR Operational Deliver Between 8,500-9,500 BOEPD (working interest basis, net to ROC). Production Includes…
FOSUN OFF-MARKET TAKEOVER OFFER Board has unanimously concluded that the offer is a superior option and a low risk route to maximise immediate value for our shareholders A0.69 cash offer per share represents: 52% premium to the…
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