WWW.INTEROIL.COM 2012 First Quarter Results Conference Call Presentation - May 14, 2012 Phil Mulacek Chief Executive Officer
Opening Remarks Phil Mulacek - CEO Page 3
Group Activity and Results First Quarter 2012 Results: Positive midstream-refining and distribution business segment EBITDA of 40.3 million and 27.5 million on a consolidated basis in the first quarter of 2012, and a positive EBITDA…
Group Quarterly Consolidated Results Net Profit - Trend 3 years 30 20 10 Millions 0 1Q:12 4Q:11 3Q:11 2Q:11 1Q:11 3Q:10 2Q:10 1Q:10 4Q:09 3Q:09 2Q:09 -10 4Q: 10 -20 -30 -40 Key items for…
Financial Position Summary Financial Position - Trend 3 years 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, 2012 December 31, 2011 March 31,…
Cash Flow From Operations Funded 59% of the Investment Activities Change in Current Assets less Current Liabilities Quarter Ended March 31, 2012 300.0 250.0 227m 3m 202m 9m 200.0 24m US Dollars (Millions) 150.0 61m…
Group Debt Optimization Capacity Current 13% Geared 50% Geared Open Debt Borrowing Level Borrowing Level Capacity=37% Debt Quantum (m) 115 773 658
New Debt Interest Coverage Ratio Current 13% Geared 50% Geared Borrowing Level Borrowing Level Debt Quantum (m) 115 773 EBITDA* (Operating Streams) 125 125 Interest Expense (m) 21.6 67.7 Interest Coverage Ratio 5.8x 1.8x…
Working Capital Facilities Available Facilities Facility Drawdown Undrawn Capacity Midstream 240m 11m 229m* Downstream 67m 20m 47m Capacity as at 31 March 2012 * Excluding letters of credit totalling 145.8 million, which reduce the…
Refinery and Distribution Business Segment Update Bill Jasper - President Page 12
Refining and Distribution Operations Catalytic Reformer Unit The catalytic reformer unit (CRU), which allows the refinery to produce reformate for gasoline, was commissioned for start up in late February 2012. Retail Distribution…
Exploration Update David Holland Page 15
Triceratops-2 Well Update and Key Events The Triceratops-2 well was spudded on January 15, 2012 The well reached a TD of 7,736 feet (2,236 meters) on April 6, 2012 a total of 98 days of drilling. Completed wire line logging including…
Triceratops-2 DST2 and 5 Results Triceratops-2 DST2 Light Oil / Condensate Fluorescence Gas was swabbed in while DST5 test string was being POOH. Well was successfully controlled and BHA and data retrieved.…
Triceratops-2 Testing Status and Forward Plan Due to tectonic stress the well bore is oval shaped or asymmetrical over significant intervals. This has contributed to testing difficulties and has resulted in a large number of DSTs…
Seismic Data Acquisition Program Update The Acquisition of the PPL236 and PPL238 strike lines are complete (shown in map view on Slide 21) The data are currently being processed and a preliminary Pre-Stack Time Migration (PSTM) has…
Tuna (TO04IOL12) and Wahoo/Mako (KW08IOL12) Strike Lines The Acquisition of the PPL236 and PPL238 strike lines are TU 0 3I O complete 2 L1 L1 2 TU 04 IO The data are currently being TU 02 IO processed with a preliminary…
Wahoo and Mako Reef Trend - Strike Seismic Line KW08IOL12 KW02IOL11 KW03IOL11 KW04IOL11 WA01IOL11 KW05IOL11 KW06IOL11 KW07IOL11 MA01IOL11 Structural Closure 73 km 2 (18,039 acres) Wahoo Carbonate…
Forward Drilling Plan Complete open hole testing on Triceratops-2 Case and complete the Triceratops-2 for tests of the lower hydrocarbon interval Release Rig 2 to drill the Antelope-3 obligation well in PRL15 Mobilize a swabbing…
Closing Remarks Phil Mulacek - CEO Page 24
InterOil Has Received Accretive Conforming And Non-Conforming Bids InterOil has retained Morgan Stanley, Macquarie Capital and UBS AG as joint financial advisors to assist InterOil with its evaluation of proposals from potential…
Closing remarks and Corporate Operating Goals Near term corporate goals: Maintain positive EBITDA from our operating businesses and have a positive year end financial outcome Complete Triceratops 2 and file a PRL for Triceratops…
InterOil Has Created Value and Has Upside Potential InterOil is currently trading with a resource valuation of approximately 0.50 per mcf IOC enterprise value 2.8 Billion, as of May 11, 2012 (58 per share) IOC ownership of Elk and…
An Energy Development Company With Significant Exploration Potential Thank You
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