Todays Presentation Speakers Dr Michael Hession Don Spector Keli Taureka Laurie Brown Chief Executive Officer & Chief Financial Officer Executive Vice President Senior Vice President Board Member PNG Exploration Page 4
COMPANY UPDATE Dr Michael Hession Bobcat-1
Key Milestones In 2014 InterOil today: Funded & focused with world class assets and team New Leadership Business Simplified Monetizing ElkAntelope Funded Investor Confidence Transformational change in 4 2 offices Farmed down 40% to…
Leadership Combining over 200 years of international oil and gas experience CEO COO CFO GENERAL COUNSEL MICHAEL HESSION JON OZTURGUT DON SPECTOR GEOFF APPLEGATE 30 yrs experience 30 yrs experience 30 yrs experience 40 yrs…
Commanding Position InterOil has majority ownership in an emerging basin Nearly 4 million acres, equivalent to 22x the size of Singapore PPL477 PRL39 SEEPAGE PRL15 PPL475 PPL476 SEEPAGE Elk-Antelope in PRL15 is PNGs…
LNG Development And Exploration Delivering two key strategies 1. LNG DEVELOPMENT 2. EXPLORATION Papua New Guinea is gas long in a gas short 40 potential leads across acreage region InterOils exploration acreage surrounds Elk- The…
Current Drilling Program Leading PNGs largest drilling campaign By the end of 2014, InterOil expects to have 5 wells spudded BOBCAT-1 RAPTOR-1 ANTELOPE-4 Eastern Papuan Basin WAHOO-1 ANTELOPE-5 Page 11
Performance Improvement Improving well times and cost while ensuring safety Strengthened the operations team New VP Drilling Tom Junker (Apache, ConocoPhillips) New GM Development Phil Ryles (Santos, Woodside) New GM Portfolio And…
Summary InterOil in its strongest position FIRST-RATE FANTASTIC FOCUSED FUNDED TEAM ASSETS 200 years of E&P, LNG Commanding position basin Streamlined business 753m available at end of Q3 experience in Executive master 2014…
FINANCIAL UPDATE Don Spector Antelope-5
Strong Balance Sheet Moving from InterOil financed exploration wells to carried appraisal wells in Q4 Estimated Q3 costs: 42m share buyback AT JUNE 30, 2014 ESTIMATED Q3 COSTS ESTIMATED AT 56m expenditure on: SEP 30, 2014 m…
Next Liquidity Injection Potential to be significant. Depends on size of certification volume Total SA Deal Summary INDICATIVE PAYMENTS TO INTEROIL Closed on March 26, 2014 4,000 USm Fixed and contingent payments 3.5bn 3,500…
Community Affairs Isikeli Taureka Raptor-1
Introduction 97% of land in Papua New Guinea is traditionally owned by clans Almost all InterOil leases and licences are located on land owned by clans The PNG Oil & Gas Act enables licence operators to carry out petroleum…
Community Affairs Key functions and responsibilities Government Liaison: - National Government - Provincial, District & Local Community Affairs: 1 ) Land Management and access assessments, compensation & rental payments 2)…
1) Land Management And Access Identifying rightful landowner clans and licence areas InterOil has a long history with the landowners around the Gulf Province Community Affairs Lands Officers: Identify landowner clans in licence…
2) Community Relations Constructive communications between company and community Engagement of community based village liaison officers Maintaining awareness of project & work progress in local villages Support of landowner…
3) Community Development Improving services in local communities Medical evacuations and health services, including assistance to Kapuna Hospital, solar lighting to aid posts, measles vaccinations, support of YWAM (Youth With a…
Challenges And overcoming them KEY CHALLENGES Unresolved land disputes between landowning clans in the licence areas In-migration from surrounding districts into PRL15 villages Misunderstandings between PNG law and customary land…
EXPLORATION & APPRAISAL Laurie Brown Raptor-1
Overview EXPLORATION GEOLOGY STRATEGY The Eastern Papuan Basin HISTORY Proving up the acreage What we know about our acreage Two major petroleum basins in InterOil has gravity imaging Antelope may not be alone PNG the Eastern and…
Geology: Eastern Papuan Basin Eastern and Western Papuan basins on trend but with different geology and petroleum systems The WPB has been Fields relatively heavily explored (280 wells) with discoveries including Hides, Juha,…
Geology: EPB evolution and key components Three key geological components critical for success 4 KEY COMPONENTS SCHEMATIC CROSS-SECTION OF EASTERN PAPUAN BASIN What gravity sees What gravity sees S ORUBADI SEAL R R C KAPAU…
History: InterOils acreage InterOil exploring PNG since 2003 acreage position dominates onshore EPB 2003: IOC CONTROLLED ENTIRE ONSHORE EPB. 2014: HIGH-GRADED 50% SECURED FOR UP TO 11 YEARS Acreage IOC Stake EXPLORATION ACREAGE…
History: 153m invested in seismic The key pre-drill risk reduction tool in EPB firms up targets to drill-ready SEISMIC CONFIRMS GRAVITY ANOMALIES, IDENTIFIES DRILLING LOCATIONS, AND MAPS POTENTIAL VOLUME EXPLORATION ACREAGE 4m acres…
History: Seismic reduces pre-drill risk Defines scale of prospects, can allow wells to be optimally located on reservoir sweet spots NEW SEISMIC DATA HAS IDENTIFIED THREE MAJOR TRENDS EXPLORATION ACREAGE 2013 reprocessing now used for…
History: 3 discoveries Track record of success cracking the code in the carbonate fairway AFTER INITIAL CHASE FOR SANDSTONES, 3 DISCOVERIES IN KAPAU LIMESTONE EXPLORATION ACREAGE Triceratops Gas Field Elk-Antelope 4m acres 2005 Gas…
History: Potential around Elk-Antelope Significant tie-back potential to Elk-Antelope AT LEAST 11 STRUCTURES, ONLY 3 DRILLED TO DATE, 10% OF OUR TOTAL ACREAGE EXPLORATION ACREAGE ANTELOPE TREND 4m acres Triceratops Bob Cat…
Raptor-1 (PPL475) Deepest exploration well, preparing for testing Raptor-1 Raptor-1 12 km west of Elk-Antelope in PPL475 InterOil holds 65.2% interest of Raptor-1 and is operator Exploration well location illustrative Pacific…
Bobcat-1 (PPL476) Exploring Elk-Antelope trend now in Kapau limestone Bobcat-1 Bobcat-1 30km north-west of Elk-Antelope in PPL476 InterOil holds 78.1% interest of Bobcat-1 and is operator. Exploration well location Minority interests…
Wahoo-1 (PPL474) Plan to resume drilling in 2015 Wahoo-1 170km north-west of Port Moresby in PPL474 InterOil holds 78.1% of Wahoo-1 and is operator. Minority interests hold 21.9% in the well Spudded March 8, 2014 Well suspended on…
Wahoo-1 (PPL474) Seismic analysis KAPURI-1 Phillips Australia, 1968, Offshore WAHOO-1 InterOil, 2014, Onshore Well suspended in Orubadi Seal 25 km Effective source note gas chimney Orubadi seal proven Effective source rock…
Antelope-4 (PRL15) Appraisal well testing southern extent of Elk-Antelope field Antelope-4 1km south of Antelope-2 PRL15 Appraisal well tests southern extent of Elk-Antelope Ownership (gross%) Antelope-4 InterOil 36.5%…
Antelope-5 (PRL15) Appraisal well testing western extent of Elk-Antelope field Antelope-5 1.7km west of Antelope-2 PRL15 Appraisal well tests western extent of Elk-Antelope Antelope-5 Ownership (gross%) InterOil 36.5% Appraisal…
Review Summary Cracking the code of the Eastern Papuan Basin to find the next Antelope Elk-Antelope, PNGs largest discovery, has put the Eastern Papuan 12 WELLS BASIN NEW EMERGING Basin on the map as an exciting emerging province…
THANK YOU For more information, please contact: michael.lynninteroil.com Senior Vice President, Investor Relations david.wuinteroil.com Vice President, Investor Relations
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