InterOil Corporation First Quarter 2011 Results Conference Call Presentation
InterOil First Quarter 2011 Highlights February 2, 2011 - Project Funding and Construction Agreement and Shareholder Agreement with Energy World Corporation Ltd. Governs the parameters in respect of the development, construction,…
First Quarter Financial Results Collin Visaggio - CFO Page 4
Group Consolidated Results Revenues EBITDA* Net Profit 300 20 1.0 250 16 0.0 200 12 -1.0 Millions Millions Millions 150 8 -2.0 100 4 -3.0 50 0 0 -4.0 1Q:11 1Q:10 1Q:11 1Q:10 1Q:11 1Q:10 * EBITDA is a…
Segment EBITDA* Upstream Refinery Downstream 0 30 10 -2 25 8 -4 20 6 Millions Millions Millions Seismic -6 15 4 -8 10 2 -10 5 -12 0 0 1Q:11 1Q:10 1Q:11 1Q:10 1Q:11 1Q:10 * EBITDA is a non-GAAP…
Financial Position Summary Financial Position 1,200,000,000 1,000,000,000 800,000,000 600,000,000 400,000,000 200,000,000 0 -200,000,000 -400,000,000 March 31, 2010 December 31, 2010 March 31, 2011…
Refinery and Distribution Business Segment Update Bill Jasper - President Page 9
Refinery & Distribution Volumes at Record Levels Throughput Capacity Util. Sales Volume 28,000 59% 175 170 27,500 58% 165 57% 27,000 160 MM Liters 56% 155 BPD 26,500 55% 150 26,000 145 54% 140 25,500 53% 135…
Exploration Program Update Wayne Hamal & David Holland Page 11
Exploration Update During 2010 and into 2011 InterOils Geoscience Team has completed, and continues to conduct, extensive exploration operations in our Licenses PPL236, PPL237, PPL238 and PRL15. The work is aiming to expand basic…
Airborne Geophysics Acquisition The current airborne geophysics coverage in our licenses is 65% in which we have identified a portfolio of 40 leads and prospects. The acquisition program in progress will extend that coverage to 93%.…
2010/2011 Seismic Program Highlights After our success at Antelope a primary focus for the 2010-11 seismic campaign has been exploration for analogous reefal build ups The program has been successful with identification of four…
Bwata Gas Field Porosity Model and Preliminary Volumetrics The Bwata gas field was discovered in 1959 in the NW of what is now PPL 237. InterOil is currently acquiring the Bwata Phase 3 program with an additional 50 km (31 miles) of…
Bwata-2 Location Estimated 1500 Feet Higher than Previous Gas Test Seismic reflection character at Bwata analogous to Antelope reefal build up Page 16
Forward Work Program The aim of the exploration team is to continue exploration work to high-grade our lead and prospect portfolio and selectively mature prospects for drilling. As such, in the near term we will continue to focus on…
Near Term Upstream Goals The primary near term directive of the exploration group is to mature a prospect inventory for a continuous multi-well exploration program. This will be achieved by meeting the following goals:- Complete…
Elk and Antelope Development Project Update Phil Mulacek - CEO Page 19
InterOils 1 Priority is Achieving CSP and LNG Project FIDs InterOil is moving ahead with government sanctioning and approval of the fully integrated project development Development plan and integrated timetable presented to the…
InterOils 1 Priority is Achieving CSP and LNG Project FIDs Laydown area at Napa Napa is prepared to receive LNG project equipment Benefits to the state and project development include: Land improvement Increasing local…
Project Update and Future Milestones InterOil is moving ahead with all Project activities to reach FID LNG facilities increase from 2mtpa to 5mtpa with Samsung & Flex LNG CSP facilities design are being re-engineered or expanded…
LNG Term Offtake Agreements Conrad Kerr Page 23
Global LNG demand is set to grow at 7% CAGR over the next 10 years Source: Bloomberg, Bernstein Research Estimates, October 13, 2010 Incremental liquefaction capacity growth to slow over the next few years Middle East LNG boom is…
Long-Term LNG Off-Take Agreements Ahead of Industry Standards LNG contracts are very complex Defined performance guarantees for Buyer and Seller Financial penalties for Buyer and Seller Typical LNG SPA contact negotiations take from…
Industry Standard LNG Project Commercialization Work Progress Table Typical Project work flow Resource Project Project Project Detailed Project Project Identification Strategy Evaluation Definition Design Development Operations and…
Closing Remarks Phil Mulacek - CEO Page 27
Near Term Corporate Operating Goals Completion of FEED work to accommodate the proposed larger 5 mtpa LNG project while planning for additional cost-effective phased expansion Reach CSP and LNG FIDs and advance the development of…
InterOil Has Created Value and Has Upside Potential InterOil is currently trading at less than 0.50 per mcf IOC enterprise value 3.1 B (Equity 3.0 B + Debt-Ex WC 0.1 B as of March 31, 2011) Refinery and downstream value 0.5 B…
An Energy Development Company With Significant Exploration Potential Thank you Page 30
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