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2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation

Interoil Corporation · Mar 19, 2012 · 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. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 1
    WWW.INTEROIL.COM 2011 Year End Results Conference Call Presentation - March 19, 2012 Phil Mulacek Chief Executive Officer
  2. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 2
    Opening Remarks Phil Mulacek - CEO Page 3
  3. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 3
    Group Activity and Results Current Results: Positive 50.4 million EBITDA for our core businesses in 2011, and a positive EBITDA over the last 9 quarters Our capital structure allows approximately 600 million in additional debt…
  4. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 4
    InterOil LNG Project Timeline Elk Discovery Resource Certification InterOil First Production LNG Critical Mass FID Ready 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 InterOil Brings LNG Project to FID Ready in Two…
  5. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 5
    From Project Agreement to FID Ready in 2 Years Resource Estimate sufficient to support 270 Million LNG Project Public Offering JV Agreement with Advisors Engaged for Mitsui on CSP LNG Equity Partner Partner with EWC on Proposed…
  6. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 6
    InterOil Continues Pre-FID Project Spending Page 7 Hou Creek upstream supply base should help reduce LNG costs after drilling is complete
  7. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 7
    Fourth Quarter Financial Results Collin Visaggio - CFO Page 8
  8. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 8
    Group Quarterly Consolidated Results Net Profit - Trend 3 years 30 20 10 Millions 0 4Q:11 3Q:11 2Q:11 1Q:11 3Q:10 2Q:10 1Q:10 4Q:09 3Q:09 2Q:09 1Q:09 4Q: 10 -10 -20 -30 -40 Page…
  9. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 9
    Financial Position Summary Financial Position - Trend 3 years 1,200,000,000 Strengthening Balance Sheet 1,000,000,000 800,000,000 600,000,000 400,000,000 200,000,000 0 -200,000,000 -400,000,000 December 31,…
  10. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 10
    Cash Flow From Operations Funded 38% of Investment Activities in 2011 Change in Current Assets less Current Liabilities Year Ended December 31, 2011 500.0 450.0 400.0 350.0 311m 300.0 US Dollars (Millions) 23m 227m…
  11. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 11
    Group Debt Optimization Capacity Current 12% Geared 50% Geared Open Debt Borrowing Level Borrowing Level Capacity=38% Debt Quantum (m) 100 700 600 Page 12
  12. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 12
    Interest Coverage Ratio Current 12% Geared 50% Geared Borrowing Borrowing Level Level Debt Quantum (m) 100 700 EBITDA (Operating Business 80.4 80.4 Segments)* Interest Expense (m) 13.1 33.6 Coverage Ratio 6.1x 2.4x…
  13. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 13
    Existing Working Capital Facilities Facility Drawdown Undrawn Capacity Available Facilities December 31 2011 December 31 2011 Working Capital 231 16 214 Borrowing (m) Out of the available 170 million BNP-lead credit line, 100…
  14. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 14
    Refinery and Distribution Business Segment Update Bill Jasper - President Page 15
  15. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 15
    Refinery & Distribution Volumes Throughput Capacity Util. Sales Volumes 26,000 55% 200 195 25,000 50% 190 45% 185 24,000 MM Liters 40% 180 BPD 23,000 175 35% 170 22,000 30% 165 160 21,000 25% 155 20,000 20%…
  16. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 16
    Refining and Distribution Operations Catalytic Reformer Unit The catalytic reformer unit (CRU), which allows the refinery to produce reformate for gasoline, remained shut down through the year due to technical operating issues. As a…
  17. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 17
    Exploration Update David Holland Page 18
  18. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 18
    Triceratops-2 Prospect Update Well Prognosis and Drilling Program Initial well design and drilling program was generated utilizing the phase 2 seismic data. Phase 3 seismic interpretation was completed in February 2012 resulting in…
  19. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 19
    Triceratops-2 Prospect Update Revised Actual Top Prognosis (mMD) Orubadi Sst. 1,032 1,030 Top Carbonate 1,241 1,255 Base Carbonate 2,189 - Current Activity: Drilling cement and shoe with 8 assembly. Forward Plan:…
  20. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 20
    Triceratops-2 Prospect Update Page 21
  21. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 21
    New Potential Field Data The final processed Potential Field data acquired in late 2011 are becoming available and initial assessment suggests a definition for closure of the Triceratops field. Our two regional gravity surveys used…
  22. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 22
    Seismic Acquisition Program 2011 was an active year for InterOils Exploration team. We continued to conduct exploration operations in our licenses PPL236, PPL237, PPL238 and PRL15. Airborne potential field and seismic data acquisition…
  23. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 23
    PPL 238 Tuna Trend A total of 3 dip orientated seismic lines have been acquired over the Tuna trend. The mapping and jump correlation of the top of the mounded and predicted reefal carbonate facies indicates 4 way dip closure. A 15 km…
  24. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 24
    PPL236 Wahoo/Mako Trend A total of 10 dip orientated seismic lines have been acquired over the Wahoo and Mako trend. The mapping and jump correlation of the top of the mounded and predicted reefal carbonate facies indicates 4 way dip…
  25. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 25
    Third Party Resource Estimate Elk and Antelope Structure Gross Contingent Resource Estimate for Gas and Condensate As at December 31, 2011 Case Low Best High An evaluation of the potential resources of gas and condensate for Initial…
  26. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 26
    Multi-Well Drilling Program InterOil is about to commence an extensive five to seven well drilling program. Since September 2009 InterOil has underway or completed a seismic campaign with a total of 41 lines and approximately 504 km of…
  27. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 27
    Near Term Upstream Goals The primary near term directive of the exploration group is to mature a prospect inventory for a continuous multi-well exploration program. This will be achieved by meeting the following goals: Complete…
  28. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 28
    LNG Project Update Allan Zirgulis - LNG Project Director Page 29
  29. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 29
    LNG Project Update - CSP Condensate Stripping Plant (CSP) CSP EPC contract technical reviews and cost optimizations are complete Bids on CSP Received Indicated Intention to Award Commercial negotiations with the EPC Contractor have…
  30. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 30
    LNG Project Update - Pipelines Condensate and dry gas pipelines Routing of gathering system flow lines from wellsites to the CSP is in final design stages Negotiation of pipeline material and pipeline coating orders are complete Dry…
  31. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 31
    LNG Project Update LNG Facilities EWC LNG cold box being loaded out to port for transit FLEX LNG Facility The FEED packages for the topside facilities and the hull are complete and the project is ready to progress to the next…
  32. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 32
    LNG Project Update Marine Terminal and Common Facilities Marine Terminal The Marine Terminal bids have been received and the technical evaluation has been completed. Three bidders were shortlisted for the next phase of the work.…
  33. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 33
    LNG Project Update Project Management and Licensing General Gulf LNG Project Services Contract bids have been received and final negotiations have commenced with short listed contractors. This contract will provide resources and…
  34. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 34
    Closing Remarks Phil Mulacek - CEO Page 35
  35. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 35
    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 March 19, 2012 (58 per share) IOC ownership of Elk and…
  36. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 36
    InterOil Engaged Advisors on Sale of Interest in Resource and Exploration InterOil has retained Morgan Stanley, Macquarie Capital and UBS AG as joint financial advisors to assist InterOil with its evaluation of proposals from…
  37. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 37
    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…
  38. 2011 YEAR END RESULTS CONFERENCE CALL – Interoil Corporation – slide 38
    An Energy Development Company With Significant Exploration Potential Thank You

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