18 June 2014 The Manager, Company Announcements Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 UBS CONNECTIONS CONFERENCE PRESENTATION Please find attached the presentation which will be…
Horizon Oil Limited ABN 51 009 799 455 UBS Australian Resources, Energy and Utilities Conference Day 2, Energy 18 June 2014 Brent Emmett CEO This presentation contains some references to forward looking assumptions,…
Horizon Oil Snapshot Market capitalisation of A494m at A0.38 per share on 17 June 2014 (1,301.2m shares) Current net production: Maari/Manaia 850 bopd priced at Brent plus US5-6 Beibu Gulf 3,200+ bopd priced at Brent less US4…
Shareholder Distribution and Trading Statistics SHARE PRICE HISTORY TRADING STATISTICS 3
Geographic Focus and Asset Location 4
Investment Proposition Focused Asia Pacific E&P specialist Strong, long-lived cashflows from Maari/Manaia fields, offshore New Zealand, re-invested to fund future capital program. Low risk, new reserves appraisal drilling and…
Net Reserves1, Contingent Resources1 and Prospective Resources1 as at 1 January 2014 RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate Block 22/12 PDL 10 (Stanley WZ 12-8E4…
Forecast Net Production From Reserves + Contingent Resources as at 1 January 2014 16,000 14,000 12,000 Barrels of oil equivalent per day 10,000 8,000 6,000 4,000 2,000 0 CY 13 CY 14 CY 15 CY…
Significant Recent Achievements Successful sale of 40% of PNG assets to Osaka Gas Horizon Oil entered into agreement in May 2013 to sell 40% of its PNG assets to Osaka Gas Co. Ltd. of Japan for US204 million, including US74 million in…
Upcoming News Flow and Share Price Catalysts Timeframe Progress on Stanley field development execution Ongoing to 2016 Improved production performance from Maari/Manaia fields and progress on Ongoing to Q1 2015 field upgrade…
Maari /Manaia Fields New Zealand PMP 38160: Gross reserves (mmbo) as 2P at 1 January 2014 (RISC HZN 10% estimate) OMV 69% (Op) Todd 21% Produced 22.0 CUE 5% Remaining 60.0 10
Maari/Manaia Key Points Wellhead platform / FPSO development in 100 m water depth Maari Moki zone developed with 5 producer wells and 3 water injectors field developed on basis of 60 mmbo recoverable reserves; successful…
Maari Field Development Assets 12
Maari /Manaia Upside Potential 13
Maari/Manaia Growth Projects Objective to reconfigure water injection scheme, access undeveloped reserves and optimise production 14
PEP 51313 New Zealand Deep prospect and lead inventory with 74 mmbo exploration potential PEP 51313: HZN 21% (10% Whio) OMV 30% (Op) Todd 35% CUE 14% Whio-1 to be drilled in Q1 2014 with mean potential of 19 mmbo (operator…
Beibu Gulf Fields, China Development Areas Block 22/12 Post-CNOOC Back-in: HZN 26.95% CNOOC 51.00% (Op) ROC 19.60% Majuko Corp 2.45% Gross reserves 2P (mmbo) as at 1 January 2014 Produced 3.0 Remaining 24.4 16
Beibu Gulf Fields Key Points Two phase development in 40 - 60 m water depth utilising CNOOC platform facilities, export pipeline and terminal on Weizhou Island Phase 1 platforms WZ 6-12 and WZ 12-8W connected by pipeline to PUQB…
Beibu Gulf Fields Phased Development Scheme 18
WZ 12-8E Early Production Concept Phase II WZ 12-1PUQB Leased mobile production platform NOED Mobile Flexible pipeline Production Platform Initially up to three production wells Run extended DST or pilot production Drill more…
Papua New Guinea Horizon Oil acreage position expanded to 7,900 sq km, primarily in wet gas sweet spot 20
PNG Exploration and Development Program Key Points Commanding 7,900 sq km acreage position in liquids-rich sweet spot of foreland area with certified combined Horizon Oil & Osaka Gas condensate and gas reserves and resources of 135…
Horizon Oil Acreage and Joint Venture Partners PRL 4: HZN 30% Osaka Gas 20% Talisman 40% Mitsubishi 10% PRL 21: HZN 27% (Op) Osaka Gas 18% Talisman 32.5% Kina 15% Mitsubishi 7.5% PPL 259: HZN 35% Osaka Gas 10% Eaglewood 45% P3GE 10%…
Stanley Project Concept Facilities 2 train, 140 mmscfd gas refrigeration plant Mercury removal via adsorption catalyst beds Gas sales at plant fence, addition gas recycled to enhance liquids recovery 6 inch, 40 km pipeline to…
Stanley Production Facility Site 24
Kiunga Base and Condensate Loadout Facility 25
PRL 21 (Elevala/Tingu and Ketu) Development Concept 26
PNG Gas Commercialisation Options Sales to regional buyers for power generation Ok Tedi Mining Limited (OTML) and Frieda River project (when sanctioned) Local towns and communities in Kiunga OK Menga Frieda River corridor Export to…
ROC + HZN Merger Rationale Stronger Together Creating a leading Asian E&P company Highly complementary portfolios Asian focused portfolio with attractive assets across China, PNG, Malaysia, Myanmar and Australia / New Zealand…
Indicative Combined Production Profile Indicative combined production profile from discovered and appraised projects 25,000 Net working interest production (boepd) 20,000 15,000 10,000 5,000 - CY14 CY15…
Strong Financial Position Strong cash flow with potential to support sustainable and increasing dividends, while also providing the ability to fund the combined group's highly attractive portfolio of growth options Change of control…
Compelling Valuation Metrics EV / CY14 EBITDA1,2,3 EV / CY15 EBITDA1,2,3 Rex International 66.7 Rex International 8.5 Kris Energy 15.2 RH Petrogas 7.0 RH Petrogas 10.8 Senex 6.0 Buru 8.5 Horizon Oil 4.9 Senex 6.7 Kris…
A Leading Asian E&P Company Market Capitalisation (Am)1,2 Enterprise Value (Am)1,2 Senex 876 Medco 1,610 AWE 847 Energi Mega 958 MergeCo 794 1.1bn3 MergeCo 899 1.2bn3 Medco 787 Drillsearch 822 Drillsearch 745 Salamander 820…
Highly Complementary Portfolios Resulting in Four Core Asset Areas China (Bohai Bay) Zhao Dong C&D Fields: 24.5% Zhao Dong C4 Field: 11.667% Zhanghai and Chenghai: 39.2% Block 09/05: 100% China (Beibu Gulf) Block…
Strong, Well-balanced Growth Projects Pipeline Exploration Appraisal Development Production Elevala / Ketu Stanley Maari / Manaia PPLs 259, 430, 372, 373 PRL 21 PDL 10 (formerly PRL 4) PMP 38160 Matariki Beibu Gulf D35, J4…
Diversified Resource Base in Asia Pacific Horizon Oil (as at 1 Jan 2014) Roc (as at 1 Jan 2014) Merged Group 100% oil / --% gas 93% oil / 7% gas 96% oil / 4% gas 3.8 3.8 2P (MMBOE) 6.5 6.0 6.0 14.9 15.9 8.4 17.4 33.3…
Upcoming News Flow and Share Price Catalysts Timeframe Progress on Stanley field development execution Ongoing to 2016 Improved production performance from Maari/Manaia fields and progress on Ongoing to Q1 2015 field upgrade…
Please visit the Horizon Oil website www.Horizonoil.com.au to see:- Detailed Investor Presentation Latest Quarterly Report Analyst reports on HZN Level 7, 134 William St, The reserve and resource information contained in this…
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