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Q2 2010 Earnings Call – Roc Oil

Roc Oil · Aug 25, 2010 · 19 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. Q2 2010 Earnings Call – Roc Oil – slide 1
    First Half 2010 Financial Results 25 August 2010 Slide 1
  2. Q2 2010 Earnings Call – Roc Oil – slide 2
    RESULTS SUMMARY Underlying business continues to perform well in 1H10 Production of 1.5 MMBOE (8,436 BOEPD) net to ROC for the period Sales of US100.2 million at average realised oil price of US76.76/BBL Net profit of US6.7 million…
  3. Q2 2010 Earnings Call – Roc Oil – slide 3
    1H10 OPERATIONAL HIGHLIGHTS Optimise production at existing assets Cliff Head workover to enhance production planned for 2H10 Zhao Dong drilling program commenced late due to weather but will be completed during 2H10 Blane and…
  4. Q2 2010 Earnings Call – Roc Oil – slide 4
    1H10 FINANCIAL HIGHLIGHTS Result (USM) Comment Sales of 1.3 MMBOE Sales Revenue 100.2 Average realised oil price of US76.76/BBL; 1% discount to Brent Production costs of US32.6 million (US21.33/BOE) Trading Profit 30.6 Amortisation…
  5. Q2 2010 Earnings Call – Roc Oil – slide 5
    1H10 KEY RESULTS SUMMARY 1H10 2H09 1H09 Production working interest (MMBOE) 1.5 1.6 2.1 Government Share of Production (%) 4.6 6.6 3.3 Sales Volume (MMBOE) 1.3 1.5 2.1 Oil & Gas Sales Revenue (USM) 100.2 102.3 102.1 Operating Cash…
  6. Q2 2010 Earnings Call – Roc Oil – slide 6
    DEBT & CASH POSITION 175 150 125 100 75 50 25 0 2H07 1H08 2H08 1H09 2H09 1H10 USM Debt Cash Net cash was US52.7 million at 30 June 2010 increased cash position for the period driven by net operating cashflow Net cash at…
  7. Q2 2010 Earnings Call – Roc Oil – slide 7
    DIVERSE PRODUCTION BASE '000 BOEPD Quarterly Net Production 14 12 10 8 6 4 2 0 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 Zhao Dong BMG Cliff Head Blane Enoch Chinguetti FY10 production…
  8. Q2 2010 Earnings Call – Roc Oil – slide 8
    REALISED OIL PRICE US/BBL Average Brent Price versus ROC Realised Oil Price 120 100 80 60 40 20 0 1H07 2H07 1H08 2H08 1H09 2H09 1H10 Chinguetti Cliff Head Zhao Dong Blane Enoch BMG Average Brent Price Realised oil…
  9. Q2 2010 Earnings Call – Roc Oil – slide 9
    HEDGING POSITION at 30 June 2010 BRENT OIL PRICE SWAPS Weighted Average Brent Volume US/BBL 2010 561,993 67.03 2011 875,997 63.71 1,437,990 65.01 Oil price hedging strategy is consistent with prior periods: For specific…
  10. Q2 2010 Earnings Call – Roc Oil – slide 10
    EXPLORATION EXPENDITURE INCURRED USM Exploration Expenditure 75 60 45 30 15 0 1H07 2H07 1H08 2H08 1H09 2H09 1H10 Australia China UK Africa Other New Zealand Exploration Expensed Exploration expenditure…
  11. Q2 2010 Earnings Call – Roc Oil – slide 11
    DEVELOPMENT EXPENDITURE INCURRED USM Development Expenditure 60 45 30 15 0 1H07 2H07 1H08 2H08 1H09 2H09 1H10 Australia China UK Africa Development expenditure incurred of US11.7 million US10.9 million…
  12. Q2 2010 Earnings Call – Roc Oil – slide 12
    1H10 SEGMENT RESULTS Zhao Cliff BMG Blane Enoch Chinguetti TOTAL USM Dong Head Sales Revenue 37.0 23.2 14.3 12.3 9.7 3.7 100.2 Production Costs (7.0) (5.0) (15.7) (2.6) (0.6) (1.7) (32.6) Amortisation (19.0) (5.5) (5.2) (4.4) (2.0)…
  13. Q2 2010 Earnings Call – Roc Oil – slide 13
    PROFIT & LOSS 1H10 2H09 1H09 (USm) (USm) (USm) Sales 100.2 102.4 102.1 Trading Profit 30.6 28.0 7.4 EBITDAX + impairments 71.6 49.9 36.7 Exploration Expense (2.7) (4.9) (2.2) EBITDA + impairments 68.9 45.0 34.5 Impairments (before…
  14. Q2 2010 Earnings Call – Roc Oil – slide 14
    CASH FLOW 1H10 2H09 1H09 (USm) (USm) (USm) Opening Cash 67.1 45.1 54.3 Net Cash from Operating Activities 40.3 50.0 48.2 Bank Loan Repayments - (96.0) (24.0) Net Proceeds from Share Issue - 74.3 - INVESTMENT ACTIVITIES Development…
  15. Q2 2010 Earnings Call – Roc Oil – slide 15
    BALANCE SHEET 1H10 2H09 1H09 (USm) (USm) (USm) Cash Assets 102.2 67.1 45.1 Capitalised Exploration Expenditure 16.8 16.1 14.9 Oil and Gas Assets 219.7 244.6 325.8 Bank Loans (49.5) (49.2) (145.0) Net Deferred Tax Liability (28.5)…
  16. Q2 2010 Earnings Call – Roc Oil – slide 16
    BEIBU GULF JOINT DEVELOPMENT WITH CNOOC Cooperation / Integration / Sharing Share new processing platform Agreed common technical and technology standards Use existing CNOOC facilities Oil and gas export Produced water injection…
  17. Q2 2010 Earnings Call – Roc Oil – slide 17
    BEIBU GULF ANOTHER DEVELOPMENT MILESTONE ACHIEVED 2009 March Development Areas confirmed and agreed April Majuko Corporation of Korea new 5% JV partner 3Q ROC/CNOOC Integrated Facilities Feasibility Study 4Q Preparation of Overall…
  18. Q2 2010 Earnings Call – Roc Oil – slide 18
    2010 PLANS and OBJECTIVES Maintain and improve safety and environmental performances HSEC Build upon existing relationships with host communities Production of between 8,000-9,000 BOEPD Deliver Operating Development and exploration…
  19. Q2 2010 Earnings Call – Roc Oil – slide 19
    www.rocoil.com.au For further information contact: Matthew Gerber Manager, Investor Relations and External Affairs +61 2 8023 2096 mgerberrocoil.com.au Slide 20

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