InterOil Corporation - Investor Presentation Pritchard Capital Partners, LLC Energize 2008 conference San Francisco, January 8th 10th Presenter Anesti Dermedgoglou V.P. Investor Relations anestiinteroil.com 1
InterOil an Integrated Oil & Gas Co. Formed in 1997 - integrated oil and gas company with operations in Papua New Guinea InterOil is listed on three exchanges: US (AMEX:IOC) Daily volume 708 thousand (90 day traded average)…
Our Vision is to Develop an Integrated Energy Company in Papua New Guinea Identify niche market opportunities for financial return Be environmentally responsible Provide a quality working environment Add value to the…
Assets through Value Chain Strategic Assets Positioned for Exponential Growth Exploration Refining and Marketing Distribution And .. 5
Strategic Investment in LNG InterOil has a proven track record InterOil built a refinery in a remote location Closed a 30-year Project Agreement with the Government of Papua New Guinea Identified PNG as a strategic opportunity at…
Upstream Exploration On trend exploration licenses covering over 9 million acres Two new Oil & Gas systems Two sandstones - Subu and Pale Three limestone's - Puri, Mendi and Reefal Currently drilling a multi-well program…
Extensive E&P Holdings in PNG 5 Onshore and an Offshore License in the Papuan Basin 3 prospecting licenses (PPL 236,237,238) operated and controlled 100% 2 retention licenses (PRL 4 and 5) with gas discoveries 8
Extensive E&P Holdings in PNG Papua New Guinea is under explored First Hydrocarbon Discovery - 1956 Well density of 1 well per 400,000 Acres Limited seismic and field geology Active petroleum system - Large number of hydrocarbon…
InterOil Acreage & PNG Gas Potential P P'nyang 'nyang Juha Juha Hides H ides S Stan tanle ley y P R L4 P R L5 K An Anggoore re Potential Recoverable Keetu tu Mananda Mananda E Elevala levala M Moora rann…
Proven Petroleum System Basin is defined by regional lineaments and faults Multiple hydrocarbon sources - still generating Jurassic, Cretaceous and Tertiary Multiple reservoirs Tertiary limestone with dual porosity system and…
Multiple Structures and Gas Sources Triceratops Bwata Elk Mule Deer Antelope Raptor Big Horn Duck Bill 12
Elk-1 Successful Drilling Results Identified multi-tcf potential gas resource Shallow High Pressure Gas Quality Condensate with potential deeper Oil Leg High permeability fractured reservoir Prolific flow rates Potential…
Elk-1 Discovery - Makes PNG History 100 + million SCF gas per day CAOF - 2.85 Billion SCF per day 14
Elk - 4 Seismic 15
Elk-4 Status - Drilling Ahead Current status Drilling ahead 3,485 feet (1,052 meters) Within timeline guidance of 85 to 110 days Geologically on trend from Elk-1 Orubadi shale (seal) being drilled Target Puri and Mendi & Reefal…
Elk / Antelope Structure Elk 2 Elk 4 Elk 1 Antelope 1 Structure significantly broadens to the south 18
Midstream Liquefaction, Refining and Marketing 32,500 bpd name plate capacity hydro-skimming oil refinery Supplies 100% domestic market with balance available for export Development of a future world scale onshore liquefied…
Downstream Distribution Segment 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…
Our Vision Fast-Track a World scale LNG Project with Parallel Gas Development Greenfield Project in Frontier Area with Integrated Energy Company InterOils 12 Years experience in PNG InterOil built PNGs first refinery Baseload LNG…
The Whole Value Chain Elk Raptor Antelope Duck Bill LNG Plant Condensate/ LPG Domestic LPG Marketing Export Marketing and Shipping Commercial Boundary 22
Developing World Scale LNG InterOil refinery Located on InterOil leased land adjoining Port Moresby harbor 23
Current LNG Project Ownership Merrill Lynch Pacific LNG InterOil 33-1/3% 33-1/3% 33-1/3% PNG LNG Inc (Bahamas) PNG Govt and Landowners 90% (Major Shareholder) Liquid Nuigini Gas (PNG) 10% 24
Merrill Lynch Underpins Offtake Merrill Lynch is the third largest Investment Bank in the world ML trade 6 bcf/d physical in US and Europe, equivalent to 45 mln tpa LNG ML will be the lead offtaker and face to market for the…
Project Strategy Objective is to deliver a fast track LNG project in PNG to meet delivery of LNG by 2012 Under this strategy, value will be created for PNG and the Project Investors by: Earlier monetization of the InterOil…
Myths and Facts Myths: Majors Required: World-scale LNG projects require major oil company to develop. Reserves: Must have 20 years gas supply as P1 reserves to start LNG project. Facts: Majors vs. Juniors: InterOil a non-Major, is…
Speed to Market Creates LNG Value Fiscal Terms Land Step by Step = Lower Equity Risk = Lower Speed Gas Supply FEED Gas Offtake EPC Conventional Approach FID Construction 0 1 2 3 4 5 6 7 8 9 10 Years Fiscal Terms Land Fast…
World-Class Project Team LNG Execution team has 250 years Oil and Gas experience, with 100 years specific LNG experience and growing InterOil involvement with a track record of meeting commitments in PNG Access through Merrill…
LNG Plant Construction (2008-2012) InterOil Refinery LNG Plant Construction 30
Accelerating PNG LNG 31
Our LNG Road Forward Gas Appraisal and Exploration Activities Continue the appraisal of the Elk structure and enhance the gas resources for the LNG project Drill the Antelope structure targeting the main reef zone Pursue farm-in…
Breaking the Paradigm - PNG LNG . On target for 2012 33
In summary InterOil comprises dedicated team players with the right skill- sets We have world class assets strategically located in a hydrocarbon hub InterOil has a significant exploration portfolio Participating in the full…
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