2014 Half Year Results Agenda Introduction Peter Botten Financial Overview Stephen Gardiner PNG Production Paul Cholakos Gas Growth Julian Fowles Exploration/Appraisal Julian Fowles Outlook & Summary Peter Botten 3 2014…
2014 Half Year Highlights cont. Positioning for next phase of gas development Encouraging results from Taza appraisal programme: Taza 2 appraisal well in Kurdistan confirmed northern extent of structure found by Taza 1, oil bearing…
Top Quartile TSR Performance over 10 years Relative to Australian Peers 800 OSH 700 WPL 711% STO 600 ASX 50 TSR Index MSCI Energy Index 500 400 % 300 260% 243% 200 226% 179% 100 0 Aug-04 Aug-05 Aug-06 Aug-07…
Financial Highlights Half-year Half-year Sales and earnings growth 2014 2013 reflects start-up of PNG LNG and strong contribution from Sales volume (mmboe) 4.74 3.37 PNG oil operations Sales revenue (USm) 510.0 381.0 Net profit up…
2014 Half Year Financial Performance Half-year Half-year Revenue up 34%, driven by PNG LNG sales, USm 2014 2013 higher realised oil prices and slightly higher oil sales volumes Revenue 510.0 381.0 Costs of production (96.3) (88.6)…
Cash flows Operating cash flows reflect first receipts from USm 1,800 1,280 PNG LNG and lower tax payments Financing includes US1.1 billion share placement 1,600 to PNG Government and share purchase plan 1,400 proceeds of US169.5…
Investment Outlook GUIDANCE RANGE 2500 (US1,875…
2014 Half Year Results Agenda Introduction Peter Botten Financial Overview Stephen Gardiner PNG Production Paul Cholakos Gas Growth Julian Fowles Exploration/Appraisal Julian Fowles Outlook & Summary Peter Botten 19 PNG…
PNG LNG development drilling ongoing Six Hides production wells at three wellpads PDL 1/7 Hides Field 8 New Production Wells Hides (B,C and D) complete and operational GTE Plant Wellpad G Hides Nogoli Camp G1 at Wellpad G (north…
PNG LNG first shipment departed for TEPCO, Japan in May 2014 Spirit of Hela Source: ExxonMobil 23 All PNG LNG facilities now complete LNG Plant Associated Gas Hides GCP LNG Tanker at Jetty Hides GCP Source: ExxonMobil…
50% production boost from PNG LNG in 1H14 Total production for 1H14 of 5.37 Net Production (mmboe) mmboe: 6.0 PNG LNG (T1 + T2) PNG LNG Project contributed 1.87 5.0 Hides GTE Oil mmboe (1.47 mmboe LNG plus 0.40 1.87 mmboe…
Agogo forelimb development : Agogo 7 Agogo Main Agogo Forelimb Agogo 7 is third well drilled within complex Agogo forelimb which underlies Agogo Main Field Well successfully encountered oil in vertical beds of forelimb…
Production Outlook Total production guidance for 2014 Net Production (mmboe) narrowed, to 18 20 mmboe 30 PNG LNG (T1 + T2) Production from oil fields forecast at 25 Hides GTE 6.5 6.9 mmboe, up slightly due to SE Mananda strong…
Gas Growth Strategy Focus on aggregating gas in NW Highlands two hubs NW Highlands Gas Hub Papua New Guinea and Gulf Basin - to Hides Kutubu underwrite additional LNG Port Moresby from PNG LNG Project and other LNG…
Hides F1 Deep Exploration Well Hides F1 Deep designed to penetrate Koi-Iange reservoir (currently mapped 700m below Hides Toro/Digimu reservoirs) Well to be drilled from Wellpad F, deepening of F1 development well Site complete,…
Greater Juha Area Exploration PDL 9/PPL 402 New Seismic Phase I SW NE Juha 1X Juha 4 Subject to Ministerial approval Darai Juha North Ieru PPL 260 Toro Juha Juha Magobu Juha North Hides Basement PDL 9 WI % Exxon…
PRL 15 appraisal programme Papua New Guinea Up to three appraisal wells to be drilled, Hides Kutubu to determine whether gas resources Port Moresby can support one or two LNG trains Antelope 4 and 5 both expected to spud in 3Q14:…
PNG - continued near field oil exploration Juha North Papua New Guinea Usano-4 Juha Hides Hides Kutubu Angore Port Moresby Mananda 5,6 & 7 Moran SE Mananda Agogo OSH Operated Kutubu OSH Interest Usano 2014: 2…
International exploration/appraisal International strategy primarily Tunis Erbil focused on oil opportunities that Tajerouine KRI Sulaymaniyah Taza have material potential TUNISIA IRAQ Long term strategy is to leverage existing…
Taza 2 Results & Forward Plan Located 10km NW of Taza 1 Oil observed in same three intervals flow-tested in Taza 1 : Jeribe, Dhiban and Euphrates Formations. Hydrocarbon shows observed through deeper Kirkuk, Jadalla and Shiranish…
2014 Half Year Results Agenda Introduction Peter Botten Financial Overview Stephen Gardiner PNG Production Paul Cholakos Gas Growth Julian Fowles Exploration/Appraisal Julian Fowles Outlook & Summary Peter Botten 45…
Ensuring long term sustainability Government cash flows significantly boosted by PNG LNG Project Vital that revenues flow into community, to ensure long term social stability OSH is committed to using resources, skills and knowledge…
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