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Q2 2012 EARNINGS CALL – QGEP Participacoes SA

QGEP Participacoes SA · Aug 15, 2012 · 18 slides

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Slides

  1. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 1
    August 15, 2012 Presentation of Click to edit Master text styles Second Quarter Second level 2012 Results Third level Fourth level Fifth level
  2. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 2
    Agenda Performance Overview Asset Portfolio Update Financial Results Strategic Growth Plans 2
  3. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 3
    Q2 2012 Overview Average gas production was 6.6 MMm/day in 2Q12; up from 5.2 MMm/day in 1Q12 Special charges related to exploration investments write-offs impacted the Companys financial results in 2Q12 New data from interim…
  4. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 4
    Increased Production at Manati Field Daily Gas Production (MM m3 per day) Average 6M12: Average 2010: 6.2 MM m3 per day 5.9 MM m3 per day 6.6 6.7 6.6 5.9 Average 2011: 4.1 MM m3 per day 5.6 5.2 4.7 4.1 4.2 3.5 1Q10 2Q10…
  5. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 5
    Agenda Performance Overview Asset Portfolio Update Financial Results Strategic Growth Plans 5
  6. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 6
    BM-S-8: Major Column of 472 Meters of Oil of 31 API at Carcar Prospect New data from intermediate wireline logging at the Carcar prospect confirms a major and continuous column of 471 meters of oil of 31 API At least 400 meters…
  7. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 7
    BS-4: EPS Underway The first horizontal well of the Early Production System (EPS) is expected to be drilled in 2013 Major revisions from the previous Development Plan include the use of a FPSO instead of a Tension-Leg Platform…
  8. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 8
    BM-J-2: Drilling Expected in 2013 The Company is now working to secure a rig to restart drilling at the Alto de Canavieiras (JEQ01) prospect in 2013 In 2011, drilling was interrupted at a 2,540 meter depth due to environmental…
  9. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 9
    BM-S-12: Remaining Potential of the Block Under Analysis Drilling at the Ilha do Macuco well was concluded at the end of May 2012 and no potentially productive zones were identified The remaining potential of the Block is still…
  10. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 10
    Agenda Performance Overview Asset Portfolio Update Financial Results Strategic Growth Plans 10
  11. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 11
    2Q12 Manati Field Production Gas production was 6.6 MMm/day in 2Q12, a 26% increase over the prior quarter Consequently, net revenue for 2Q12 was R123.2 million, a 102.5% increase over 2Q11 Production is expected to ramp-up…
  12. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 12
    2Q12 Operating Results EBITDAX reached R79 million and EBITDAX margin was 64%. Net loss of R96 million in 1Q12 as a result of higher special exploration costs resulting from unsuccessful exploration activities at Block BM-S-12 and…
  13. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 13
    Operating & Exploratory Costs Operating Costs (R Million) 83.5 6,6 2,8 4,3 52.4 17,0 45.2 0,9 2,0 0,5 1,6 10,2 2,8 25.5 9,5 38,6 23,9 4,8 21,5 11,0 16,8 14,3 9,7 7,8 2Q11 2Q12 6M11 6M12 Production Costs Depretiation…
  14. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 14
    CAPEX Exploratory CAPEX net to QGEP * (US million) 165 40 40 2012 2013 To be expensed Expensed * Expensed until June, 2012 14
  15. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 15
    Net Cash Position In 2Q12, cash balance was R895.5 million. During the second quarter, the Company eliminated its debt, following the total repayment of the BNDES and BNB loans linked to the Manati Field development. Cash is…
  16. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 16
    Agenda Performance Overview Asset Portfolio Update Financial Results Strategic Growth Plans 16
  17. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 17
    Building a Balanced Portfolio of Producing & Exploratory Assets 17
  18. Q2 2012 EARNINGS CALL – QGEP Participacoes SA – slide 18
    For additional information: Investor Relations QGEP Participaes S.A. Av. Almirante Barroso, n 52, sala 1301, Centro Rio de Janeiro, RJ CEP: 20031-918 Phone - IR: 55 21 3509-5959 Fax: 55 21 3509-5958 E-mail: riqgep.com.br…

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