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BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation

Interoil Corporation · Nov 19, 2009 · 38 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. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 1
    InterOil Corporation Bernstein Asia Pacific Energy Conference Call Presentation Wayne Andrews - V. P. Capital Markets November 19, 2009
  2. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – 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. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – 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. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – 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. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – 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. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – 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. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – 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. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 8
    Elk/Antelope Field - View to West 0.9 2.23 miles 1.75 miles miles 2.9 miles Elk Block Antelope Block 10
  9. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 9
    Antelope-1 and 2 Confirmed Reef Development Composite Line E4IOL05 and E12IOL07 11200 12000 12800 13600 14400 15 200 16000 16800 17600 18400 19 200 20000 E4IOL05 E12IOL07 Elk-4 Ant-1 Ant-3 Ant-4 Ant-2 0 0 -400 -400…
  10. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 10
    Antelope-1 World Class Discovery Antelope DST1 and the well log confirm one of the largest hydrocarbon column heights encountered in a single vertical onshore wellbore in all of Asia at over 2,300 feet Condensate rich natural…
  11. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 11
    Antelope-1 Flow Rate Comparison Well Gross Net Percent Production Flow Test Natural Reservoir Reservoir Pay Tubing OD Gas Condensate Elk-1 620 Ft. 88 Ft. 14% 5.5 inch 102 MMcfd 510 BCPD Elk-4 600 Ft. 166 Ft. 28% 4.5 inch 105 MMcfd…
  12. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 12
    Third Party Resource Estimate of Elk/Antelope as of Dec. 31, 2008 Gross Resource Estimate for Gas and Condensate As of December, 31, 2008 Case An evaluation of the potential Low Best High resources of gas and condensate for…
  13. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 13
    Antelope-1 Sidetrack DSTs Multiple DSTs completed on identified zones of interest DST 12 2,347 to 2,402 meters. Recovered gas, condensate and 12 oil DST13 ST2 2,375 to 2,402 13 meters. Recovered oil and very Long-Term little…
  14. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 14
    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…
  15. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 15
    Antelope-2 Current Status DST1 completed with casing packer interval 6,010 6,175ft MDRT (1,832-1,882m) Full 4 Coring Core 1 6,020 - 6,037ft 1,8351,840 mMDRT 100% recovery Core 2 6,056 6,171ft 1,8461,881 mMDRT 99.44% recovery Core 3…
  16. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 16
    Antelope Well Correlation Initial Log Results: Antelope-1 Demonstrated a gas and 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…
  17. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 17
    Antelope Dolomite Zone Comparison Antelope-1 Antelope-2 Top of Reservoir = Top of Dolomite zone 774 feet 840 feet Intermediate TD Datum is Top of Dolomite zone 19
  18. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 18
    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 20
  19. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 19
    Antelope-2 Forward Plan Clean up well bore and drill to 7,415ft (2,260m) Rig up and run 7 inch tubing completion Perform production logging Perform production flow test Rig down 7 inch completion Run 7 inch liner to 2,260m Tie…
  20. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 20
    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…
  21. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 21
    Phase 1 & 2 of New Seismic Program 23
  22. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 22
    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…
  23. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 23
    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…
  24. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 24
    PNG at Heart of Largest LNG Market Source: BP Statistical Review 2009 26
  25. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 25
    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…
  26. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 26
    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…
  27. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 27
    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…
  28. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 28
    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…
  29. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 29
    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…
  30. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 30
    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…
  31. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 31
    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…
  32. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 32
    Developing World Scale LNG Project InterOil refinery Located on InterOil leasehold land adjoining Port Moresby harbor 34
  33. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 33
    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…
  34. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 34
    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…
  35. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 35
    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…
  36. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 36
    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 Upstream 1,011 660 611 487 698 895 618 579…
  37. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 37
    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…
  38. BERNSTEIN ASIA PACIFIC ENERGY CONFERENCE CALL – Interoil Corporation – slide 38
    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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