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WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation

Interoil Corporation · Dec 14, 2009 · 36 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. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 1
    InterOil Corporation Wayne Andrews - V. P. Capital Markets December, 2009
  2. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 2
    InterOil Investment Highlights Proven world class hydrocarbon province 40 identified exploration prospects 80% of Eastern Papuan basin Certified resource estimate on Elk/Antelope field 2008 YE Best Case estimate of 3.8 Tcfe gross…
  3. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 3
    InterOil Track Record of Achievement With Investment Upside InterOil was formed in 1997 - Vision to create an integrated energy company Exploration licenses signed under incentive program 2003 Elk-1 discovery of Elk fault block 2006…
  4. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 4
    Partnership With a Stable Government Former Australian Territory Gained Independence in 1975 Strong relations with Australia - A350 million annual aid Constitutional Monarchy Parliamentary Democracy, Member of Commonwealth Positive…
  5. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 5
    Business Segments Across The Value Chain Exploration Portfolio Midstream Portfolio - Refinery Downstream Domestic 4.6 million acres K36bpd capacity Distribution Proposed Condensate Stripping Project Proposed Midstream LNG…
  6. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 6
    Upstream - Exploration Operate 4.0 million acre onshore exploration license Assets secured at a time when Papua New Guinea was overlooked and under-explored Significant new discovery in frontier basin Elk/Antelope gas field…
  7. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 7
    World Class Hydrocarbon Province - InterOil Acreage Position Potential Recoverable Potential Recoverable 25 Tcf 11 Tcf PPL238 PPL237 PPL236 Source: Papua New Guinea Department of Petroleum & Energy 9
  8. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 8
    Elk/Antelope Field - View to West Elk-4 Elk-2 Antelope-1 Elk-1 Antelope-2 Antelope-3 1.6 1.7 0.9 2.9 miles miles miles miles 10
  9. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 9
    Antelope-1 and 2 Confirmed Reef Development Composite Line E4IOL05 and E12IOL07 11200 12000 12800 13600 14400 15200 16000 16800 17600 18400 19200 20000 E4IOL05 E12IOL07 Elk-4 Ant-1 Ant-3 Ant-4 Ant-2 0 0 -400 -400 -800…
  10. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 10
    Antelope-2 Well Drilling Antelope-2 is located 2.3 miles south of Antelope-1 Currently drilling main reservoir section Primary objectives: 1) Penetrate southern margin of the Antelope Reef 2) Determine the extent of the…
  11. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 11
    Antelope Well Correlation Initial Log Results: Demonstrated a gas and Antelope-1 gas liquids column over the entire logged vertical interval of 1,224 feet, from 6,004 feet to 7,228 feet Antelope-2 Confirmation of the reefal…
  12. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 12
    Antelope-2 Flow Test Sets New World Record INTEROILS ANTELOPE-2 WELL FLOWED AT A RATE OF 705 MMCFD INCLUDING 11,200 BBLS PER DAY OF CONDENSATE 129,000 barrels of oil equivalent per day (BOEPD) The well results establish Papua New…
  13. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 13
    Antelope-2 Flow Test December 1, 2009 15
  14. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 14
    Elk/Antelope Wells - Flow Rate Comparison Flow Test Natural Gross Net Percent Production Well Gas Reservoir Reservoir Pay Tubing OD Condensate 102 MMcfd Elk-1 620 Ft. 88 Ft. 14% 5.5 inch 510 BCPD 105 MMcfd Elk-4 600 Ft. 166…
  15. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 15
    Favorable Structural Position to Test Potential Oil Leg Elk-1 Elk-4 Antelope-1 Antelope-2 Elk-2 Reef Porosity Potential Oil Leg Antelope Fault Antelope Platform Note: Pictorial Only, Graphic Not to Scale 17
  16. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 16
    Antelope-2 Forward Plan Rig down 7 inch completion Run 7 inch liner to 2,260m Tie back liner with 7 inch casing and dual DDVs Drill new 6 inch hole to 7,628ft (2,325m) Perform DST 2 to test for condensate yield in the lower gas…
  17. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 17
    Increasing Spending To Capitalize On Exploration Opportunity Confluence of Factors Generates Favorable Timing Lull in industry activity - rig availability High quality equipment at distressed prices Best Balance Sheet in Companys…
  18. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 18
    Elk/Antelope Field Seismic Coverage 20
  19. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 19
    InterOil Leads and Prospects 21
  20. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 20
    Condensate Recovery Feasibility Study EDG Consulting Engineers were commissioned to evaluate early monetization of condensate from the Elk/Antelope field Completed feasibility study with defined product slate, a cost estimate and…
  21. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 21
    LNG Project Strategy Current activities and objectives: Deliver a fast track LNG project in PNG Project Agreement under consideration by PNG Government Competitive economics compared with other Pacific Rim LNG projects Supported by…
  22. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 22
    PNG at Heart of Largest LNG Market Source: BP Statistical Review 2009 24
  23. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 23
    Proposed LNG Project Location/Scope Compressor Station 6 - 9 Mmtpa LNG plant LPG export Elk Kopi Napa Napa Pipeline - Refinery Napa Napa 220 miles Jetty Upgrade Contractor Estimate of Project Investment US5 - 7…
  24. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 24
    Attractive LNG Economics Superior Quality Supply High deliverability, low cost supply Rich in condensate and LPG Low in contaminates (CO2, H2S) Protected geographic region Onshore, near coast InterOil exploration wells are…
  25. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 25
    The Whole Value Chain Refinery LNG Plant Power Plant Exploration & Development Hydrocarbon Sales LPG Export Oil, Natural Gas and Condensate Production Separation and Transportation Commercial Consumption…
  26. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 26
    Proposed1 Upstream and Midstream Participating Interests Upstream Midstream Participating Interests Pre-Transaction* Participating Interests Pre-Transaction* 22.50% 47.50% 57.51% 19.99% 52.50% Petromin Investor Group…
  27. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 27
    Proposed JV Partner Participating Interests Participating Interests Post-Transaction InterOil 30.0% Industry Partner 25.0% Farm-In Partners Investor Group 35.0% 12.5% Petromin 22.5% Strategic 2.5% Strategic 2.5% Strategic…
  28. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 28
    Joint Ventures in LNG & Upstream Development Joint Ventures: Key Drivers of Success What part of the value chain Balance and Timing for JV Success Entire value chain Individual business segments Business segment combinations Owners…
  29. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 29
    Proposed Condensate and Natural Gas Production Profile1 MMBOE Forecast Elk / Antelope Production Profile 90 75 60 45 30 15 0 2011 2013 2015 2017 2019 2021 2023 Oil / Liquids Gas Natural gas production volumes assume first…
  30. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 30
    Developing World Scale LNG Project InterOil refinery Located on InterOil leasehold land adjoining Port Moresby harbor 32
  31. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 31
    Profitable Refining Segment with Existing Spare Capacity 36,500 bpd capacity oil refinery Excess capacity for in-country growth Supplies domestic market with balance available for export Refinery strategically located government…
  32. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 32
    Profitable Distribution with Domestic and Export Growth Potential Largest distributor of fuel products in PNG Strategic acquisitions to leverage InterOils niche refinery Owned and operated by InterOil: Distribution depots Seaboard…
  33. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 33
    September 30, 2009 Financial Highlights For the September 30, 2009 quarter, InterOil reported net income of 7.9 million (0.18 per share), 1.3 million less than the same quarter in the prior year EBITDA* for the quarter totalled 14.6…
  34. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 34
    Financial Summary - Quarterly Results for Past Eight Quarters* Quarters ended 2009 2008 2007 ( thousands except per share data) Sep-30 Jun-30 Mar-31 Dec-31 Sep-30 Jun-30 Mar-31 Dec-31 Ups tream 1,011 660 611 487 698 895 618 579…
  35. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 35
    Best Balance Sheet* in Companys History September 30, 2009 September 30, 2008 Cash, Cash Equivalents, Restricted Cash 88.6 78.4 Total Current Assets 247.0 361.0 Plant & Equipment, Oil & Gas Properties 412.0 344.6 Total Assets 674.5…
  36. WAYNE ANDREWS V P CAPITAL MARKETS – Interoil Corporation – slide 36
    In Summary Papua New Guinea is an under-discovered frontier with world class assets strategically located on the doorstep of Asia, where InterOil has targeted over 1 Billion BOE Proving significant hydrocarbon resource for a stronger…

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