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ANNUAL GENERAL MEETING – Interoil Corporation

Interoil Corporation · Jun 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. ANNUAL GENERAL MEETING – Interoil Corporation – slide 1
    InterOil Annual General Meeting June 19, 2009 Elk-4 flared 6 May 2008 Antelope-1 March 2, 2009 Flowed 385 MMcfd, 5,000 BCPD Proposed LNG Plant, Port Moresby, PNG Presented by Wayne Andrews - V.P. Capital Markets 1
  2. ANNUAL GENERAL MEETING – Interoil Corporation – slide 2
    InterOil Our History InterOil was formed in 1997 - Vision to be an integrated oil and gas company with operations in Papua New Guinea Exploration and Production Refining Distribution and Marketing LNG focus and potential future…
  3. ANNUAL GENERAL MEETING – Interoil Corporation – slide 3
    Our Vision Develop an integrated energy company in Papua New Guinea Capitalize on exploration success through early liquids monetization and sponsorship of proposed LNG plant Demonstrate corporate social responsibility…
  4. ANNUAL GENERAL MEETING – Interoil Corporation – slide 4
    Stable Govt Competitive Fiscal Policy Former Australian Territory Independence 1975 Strong relations with Australia - 350m PAPUA NEW GUINEA annual aid Constitutional Monarchy Parliamentary Democracy, Member of Commonwealth…
  5. ANNUAL GENERAL MEETING – Interoil Corporation – slide 5
    Business Segments through Value Chain Strategically Located and Positioned for Growth Exploration Portfolio Midstream Portfolio - Refinery Downstream 4.6 million acres K36bpd capacity Distribution 65% Market Share Proposed…
  6. ANNUAL GENERAL MEETING – Interoil Corporation – slide 6
    Downstream Distribution Largest distributor of fuel products in PNG Acquired BP and Shells PNG distribution assets Owned and operated by InterOil: Distribution depots Seaboard terminals Trucking system Retail network 8
  7. ANNUAL GENERAL MEETING – Interoil Corporation – slide 7
    Midstream Refining 36,000 bpd capacity oil refinery Excess capacity for in-country growth Supplies domestic market with balance available for export Refinery strategically located Government leased land Profitability enhancement…
  8. ANNUAL GENERAL MEETING – Interoil Corporation – slide 8
    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, namely; Elk/Antelope gas…
  9. ANNUAL GENERAL MEETING – Interoil Corporation – slide 9
    World Class Hydrocarbon Province Dominant Acreage Position Potential Recoverable 11 Tcf 11 Potential Recoverable 25 Tcf Source: Papua New Guinea Department of Petroleum & Energy
  10. ANNUAL GENERAL MEETING – Interoil Corporation – slide 10
    Elk/Antelope Gas Field - View to West 0.9 2.23 miles 1.75 miles miles 2.9 miles Elk Block Antelope Block 12
  11. ANNUAL GENERAL MEETING – Interoil Corporation – slide 11
    Antelope-1 Confirmed Reef Development Composite Line E4IOL05 and E12IOL07 11200 12000 12800 13600 14400 15200 16000 16800 17600 18400 19200 20000 E4IOL05 E12IOL07 Antelope-1 Antelope-2 Elk-4 0 0 -400 -400 -800…
  12. ANNUAL GENERAL MEETING – Interoil Corporation – slide 12
    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 gas…
  13. ANNUAL GENERAL MEETING – Interoil Corporation – slide 13
    Antelope-1, Elk-1 and Elk-4 Correlation Antelope-1 Elk-1 Elk-4 102 MMcfd & 5Bbls/MMcf 105 MMcfd & 18Bbls/MMcf 100m Antelope-1 Vs 100m Elk-1 Antelope-1 1750m-1850m Elk-1 1725m-1825m 15
  14. ANNUAL GENERAL MEETING – Interoil Corporation – slide 14
    Dolomite Cap at Antelope-1 Antelope-1 Antelope-1 1745m-1900 Core sample at 1799.5m Core sample at 1851m 16
  15. ANNUAL GENERAL MEETING – Interoil Corporation – slide 15
    Antelope-1 Flow Rate Comparison Well Gross Net Percent Production Flow Test Reservoir Reservoir Pay Tubing OD Natural 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…
  16. ANNUAL GENERAL MEETING – Interoil Corporation – slide 16
    Top Tier Oil Field Services In PNG 18
  17. ANNUAL GENERAL MEETING – Interoil Corporation – slide 17
    Antelope-1 Flow Test - March 2, 2009 19
  18. ANNUAL GENERAL MEETING – Interoil Corporation – slide 18
    Government Project Support Papua New Guinea Post-Courier March 3, 2009 it is now our turn to commit to clearing the path toward first production with our loyal and dependable partner, InterOil. Prime Minister Sir Michael Somare…
  19. ANNUAL GENERAL MEETING – Interoil Corporation – slide 19
    Third Party Resource Estimate Elk/Antelope As At Dec 31, 2008 Gross Resource Estimate for Gas and Condensate As At December, 31, 2008 Case An evaluation of the potential Low Best High resources of gas and condensate for the…
  20. ANNUAL GENERAL MEETING – Interoil Corporation – slide 20
    Papua New Guinea Fields PNG - Natural Gas, NGL & Oil Resource Billion Barrel Potential December 2008 InterOils Elk/Antelope discovery Total 2P/C NGL Oil ranks in size as one of the largest MMboe Gas BCF MMboe MMbbl fields in the…
  21. ANNUAL GENERAL MEETING – Interoil Corporation – slide 21
    Antelope-1 Sidetrack 2 Confirmed 257 feet of heavy condensate and oil in lower section of reservoir Drives early condensate recovery project Original Hole Lowered level of known hydrocarbons in Antelope GAS Antelope-1ST…
  22. ANNUAL GENERAL MEETING – Interoil Corporation – slide 22
    Antelope-1 Sidetrack DSTs Multiple DSTs completed on identified zones of interest DST 12 2,347 to 2,402 meters. Recovered gas, condensate and oil. DST13 ST2 2,375 to 2,402 meters. Recovered oil and very little gas. 12 The oil…
  23. ANNUAL GENERAL MEETING – Interoil Corporation – slide 23
    Antelope-2 Location Prepared 25
  24. ANNUAL GENERAL MEETING – Interoil Corporation – slide 24
    Plans to Increase Capital Spending June 8, 2009, Completed Common Stock Offering 2 MM share common stock registered direct offering. Received gross proceeds of U.S. 70.4 million Positions Company to accelerate upstream activity.…
  25. ANNUAL GENERAL MEETING – Interoil Corporation – slide 25
    Identified Opportunities Acquire Second Drilling Rig Identification of several capable rigs underway Both US and international rigs being inspected Adaptable to jungle working conditions New rig (target July purchase) will increase…
  26. ANNUAL GENERAL MEETING – Interoil Corporation – slide 26
    Phase 1 of New Seismic Program Proposed 100 Km Phase 1 Seismic Data acquisition program Further define the Antelope reef Upgrade Gas Volume Estimates AVO for comparison with Whitetail 28
  27. ANNUAL GENERAL MEETING – Interoil Corporation – slide 27
    Phase 1 & 2 of New Seismic Program 29
  28. ANNUAL GENERAL MEETING – Interoil Corporation – slide 28
    Accelerating Upstream Activity Antelope-1 Proved reef facies with 2,027 feet of condensate rich natural gas column Completing well for long-term production test as gas column is proven Install 2 7/8 inch tubing to open hole section…
  29. ANNUAL GENERAL MEETING – Interoil Corporation – slide 29
    LNG Project Strategy Current objectives: Deliver a fast track LNG project in PNG Liquid gas (LPG) gathering opportunity and condensate stripping Capture share of Asia and US markets during period of increasing LNG demand Pioneer…
  30. ANNUAL GENERAL MEETING – Interoil Corporation – slide 30
    PNG at Heart of Largest LNG Market Source: BP Statistical Review 2009 32
  31. ANNUAL GENERAL MEETING – Interoil Corporation – slide 31
    Proposed LNG Project Location/Scope Compressor Station 6 - 9 MMtpa LNG Plant + LPG export Elk Kopi Napa Napa Pipeline - Refinery 220 miles Napa Napa Jetty Upgrade Project Investment US5 - 7 billion 33
  32. ANNUAL GENERAL MEETING – Interoil Corporation – slide 32
    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 well costs…
  33. ANNUAL GENERAL MEETING – Interoil Corporation – slide 33
    Developing World Scale LNG InterOil refinery Located on InterOil leasehold land adjoining Port Moresby harbor 35
  34. ANNUAL GENERAL MEETING – Interoil Corporation – slide 34
    The Whole Value Chain Elk Raptor Antelope Duck Bill LNG Plant Condensate/ LPG Domestic LPG Marketing Export Marketing and Shipping Commercial Boundary 36
  35. ANNUAL GENERAL MEETING – Interoil Corporation – slide 35
    March 31, 2009 Financial Highlights For the March 31, 2009 quarter, InterOil reported net income of 2.6 million (0.07 per share), a 5.0 million improvement over the equivalent quarter in the prior year. EBITDA* for the quarter ended…
  36. ANNUAL GENERAL MEETING – Interoil Corporation – slide 36
    Financial Summary - Quarterly Results for Past Eight Quarters* (1) Earnings before interest, taxes, depreciation and amortization is a non-GAAP measure and is reconciled to GAAP in the MD&A for year end 2008 filed on SEDAR and our…
  37. ANNUAL GENERAL MEETING – Interoil Corporation – slide 37
    Improved Balance Sheet* March 31, 2009 Dec 31, 2007 Cash, Cash Equivalents, Restricted Cash 60.0 65.9 Total Current Assets 178.5 216.8 Plant & Equipment, Oil & Gas Properties 365.7 317.7 Total Assets 553.0 537.8 Current Portion of…
  38. ANNUAL GENERAL MEETING – Interoil Corporation – slide 38
    In Summary Papua New Guinea is a world class under-discovered frontier Proving significant hydrocarbon resource GLJ Petroleum Consultants Ltd. certified resources of 3.8Tcfe gross best case, 5.3 Tcfe high case as of Dec 31, 2008.…

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