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RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation

Interoil Corporation · Sep 16, 2010 · 42 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. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 1
    InterOil Corporation RBS Asia Pacific Energy & Engineering Conference New York, NY PAPUA NEW GUINEA THE NEXT GLOBAL LNG SUPPLIER Phil Mulacek - CEO September 16, 2010
  2. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 2
    InterOil Investment Highlights Increased resource estimate on Elk and Antelope fields 2009 YE Best Case estimate of 8.2 Tcf and 156.5 MMBC gross contingent resources Condensate stripping project JV with Mitsui FEED underway, FID…
  3. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 3
    InterOil Has A Track Record of Achievement With Investment Upside InterOil was formed in 1997 - Vision to create an integrated energy company Exploration licenses signed under incentive program - 2003 Elk-1 discovery of Elk fault block…
  4. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 4
    InterOil Successfully Completed Milestones Oct 06 Completes Apr 04 - Acq of acquisition of Shell Feb 05 - BP downstream Distribution assets Announced assets May 08 Gas and Liquids May 97 125 million completed discovery at Antelope…
  5. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 5
    Efficient Use of Capital Has Yielded A Valuable Asset Description of the Financing Event (Upstream and LNG Development Month / Year of Pre-Money Amount Raised Financing Event Company Valuation related only) Indirect Participation…
  6. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 6
    InterOil Assets In Papua New Guinea InterOil was formed in 1997 and has built a vertically integrated energy company with a market capitalization of 2.7 billion. Operating Assets Downstream 17 depots/ terminals, 12 aviation sites…
  7. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 7
    InterOil Has Created Value With Upside Potential InterOil is currently trading at approximately 0.50 per mcf IOC fully diluted market cap = 2.7B Best Case resource estimate YE-2009 = 9.1Tcfe IOC ownership of Elk and Antelope = 57.8%…
  8. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 8
    InterOil Assets Located in a Cooperative Political Environment Former Australian Territory Gained Independence in 1975 Strong relations with Australia - A350 million annual aid Constitutional Monarchy Parliamentary Democracy, Member…
  9. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 9
    Synergistic Business Segments Across The Value Chain Exploration Portfolio Midstream Portfolio - Refinery Downstream Domestic 3.9 million acres K36bpd capacity Distribution Proposed Condensate Stripping Project Proposed…
  10. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 10
    Upstream Exploration Provides Long-Term Growth Potential Operate 3.9 million acre onshore exploration license 40 identified drilling prospects Assets secured at a time when Papua New Guinea was overlooked and under-explored InterOil…
  11. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 11
    World Class Hydrocarbon Province InterOils 3.9 Million Acres PPL237 PPL238 PPL236 Source: Papua New Guinea Department of Petroleum & Energy 13
  12. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 12
    Additional Resource Potential On Flanks Of Elk and Antelope Field Elk-4 Elk-2 Antelope-1 Elk-1 Antelope-2 Antelope-3 1.6 1.7 0.9 2.9 miles miles miles miles 14
  13. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 13
    Antelope-1 and 2 Wells Confirmed Reef Development Observed On Seismic Data Elk-4 Ant-1 Ant-3 Ant-4 Ant-2 Projected GWC (TWT) 15
  14. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 14
    Antelope-2 Well Confirmed Lateral Extent of Dolomitization Antelope-1 Vertical Antelope-2 Log Results: Antelope-2 Demonstrated a gas and gas liquids column height of 1,729 feet Confirmed reef development with porous limestone…
  15. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 15
    Well Productivity Exceeds Proposed LNG Startup Requirements Flow Test Natural Gross Net Percent Production Well Gas Reservoir Reservoir Pay Tubing OD Condensate 102 MMcfd Elk-1 620 Ft. 88 Ft. 14% 5.5 inch 510 BCPD 105 MMcfd…
  16. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 16
    Third Party Resource Estimate Elk and Antelope Structure Gross Resource Estimate for Gas and Condensate An evaluation of the potential resources of gas and condensate for the As At December, 31, 2009 Case Elk/Antelope field has been…
  17. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 17
    InterOil Added 889 MMBOE of Contingent Resources in 2009 Case 1,600.0 Condensate * Sales Gas * 156.5 1,400.0 As at 31 December, 2009 Low Best High 1,200.0 Original Gas-In-Place (tcf) 9.65 11.03 12.54 1,000.0 mmboe Initial…
  18. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 18
    Antelope-2 Horizontal Results Exceed Objectives Horizontal length reached a total of 3,066 feet (934 meters) from vertical well bore Confirmed an increasing condensate-to- natural gas ratio (CGR) Demonstrated dolomitization…
  19. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 19
    Antelope-2 Horizontal Confirms 20-21 Bbls/MMcf CGR DST 5 flowed gas at a rate between 5.7 and 7.3 million cubic feet per day (MMcfd) through various choke sizes with no formation water produced. The stabilized condensate-to-gas…
  20. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 20
    22 Antelope 2 - Horizontal 2A -Testing Program InterOil plans to test three separate levels (DSTs 6, 7 and 8 respectively) below the lowest tested gas in the previous horizontal lateral These three DSTs allow for testing over…
  21. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 21
    DST 6 and Proposed DSTs 7 and 8 Top of 5.5 TVD Liner 2078m MD kb 2325 DST 5 2335m CGR=21.4 bbl/mm No Water 5.5 Csg 2345m Shoe 2,418m MD DST 6 2355m 2,610m 2,703m Possible Gas/ Water MD in horizontal 2365m Contact based on gas…
  22. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 22
    24 DST 6 Tested Higher Condensate-to-Gas Ratio DST 6 was performed: Interval flowed gas and condensate at 1,500psi FTP Packers that were set in open hole to isolate the horizontal leg failed after flowing for two hours Flow…
  23. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 23
    InterOils Second Rig Has Arrived in PNG Initiated modifications for jungle conditions Once in PNG the rig will be modified for jungle operations at Napa Napa Timing subject to achievement of ongoing corporate objectives…
  24. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 24
    Surrounding Prospect Inventory to Fuel Long-Term Growth 26
  25. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 25
    Feasibility Study Indicates Economic Condensate Recovery Project EDG Consulting Engineers were commissioned to evaluate early monetization of condensate from the Elk/Antelope field InterOil committed to FEED with Mitsui &Co.,…
  26. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 26
    InterOil Executes JVOA and Option Deed with Mitsui & Co. Ltd. On August 04, 2010, InterOil finalized a Joint Venture Operating Agreement (JVOA) for the Companys proposed Condensate Stripping Plant (CSP) with Mitsui & Co., Ltd.…
  27. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 27
    Robust Economics Create a Competitive LNG JV Process Current activities and objectives: Deliver a on time and on budget LNG project in PNG Project Agreement approved by PNG Government in December 2009 Competitive economics compared…
  28. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 28
    Papua New Guinea at Heart of Worlds Largest LNG Market Source: BP Statistical Review 2009 30
  29. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 29
    Attractive Economics Relative to Asia-Pacific LNG Projects Natural Gas Supply InterOil believes exploration wells (Elk and Antelope) indicate higher productivity than other wells in PNG Tests indicate 5-6% CO2 InterOil anticipates…
  30. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 30
    InterOil Controls the Largest Field in Papua New Guinea Oil Fields1 Gas & Condensate Fields1 Oil Solution Gas Condensate Natural Gas MMSTBO BCF MMBC BCF MMBOE Elk & Antelope2 156.5 8,120 1,509.8 Hides 101.0 5,371 996.2 Kutubu 348.6…
  31. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 31
    InterOil Capitalizes on the Whole Value Chain Refinery LNG Plant Power Plant Exploration & Development Hydrocarbon Sales LPG Export Oil, Natural Gas and Condensate Production Separation and Transportation Commercial…
  32. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 32
    InterOil Poised to Achieve JV Partner Agreement Upstream Midstream LNG Participating Interests Pre-Transaction* Participating Interests Pre-Transaction* 22.50% 47.50% 57.51% 19.99% 52.50% Petromin Investor Group InterOil*…
  33. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 33
    Proposed JV Partner Participating Interests Participating Interests Post-Transaction InterOil 30.0% Industry Partner 25.0% Farm-In Partners Investor Group 35.0% 12.5% Petromin 22.5% Strategic 2.5% Example only. Strategic…
  34. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 34
    Proposed Timeline Based on LNG Partner Agreement by YE 2010 2010 2011 2012 First Condensate Condensate 2013/2014 First LNG Floating LNG (3 mtpa) 2015/2016 Land LNG (4 mtpa) Land Based LNG Elk/Antelope & Condensate Stripping…
  35. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 35
    Brown Fields Site Leverages Existing Infrastructure for World Scale LNG Project InterOil refinery Located on InterOil leasehold land adjoining Port Moresby harbor 37
  36. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 36
    Profitable Refining Segment with Existing Spare Capacity 36,500 bpd capacity oil refinery Excess capacity for in-country growth Supplies domestic market Refinery strategically located government leased land Profitability enhancement…
  37. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 37
    Profitable Distribution with Domestic and Export Growth Potential Largest distributor of fuel products in PNG Strategic acquisitions to leverage InterOils niche refinery Owned and operated by InterOil: Distribution depots Seaboard…
  38. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 38
    Summary of Consolidated Quarterly Financial Results Quarters ended 2010 2009 2008 ( thousands except per share data) Jun-30 Mar-31 Dec-31 Sep-30 Jun-30 Mar-31 Dec-31 Sep-30 Upstream 1,349 998 1,027 1,011 660 611 487 698 Midstream…
  39. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 39
    Strong Balance Sheet June 30, 2010 December 31, 2009 Cash, Cash Equivalents, Restricted Cash 57.2 75.8 Total Current Assets 212.4 208.1 Plant & Equipment, Oil & Gas Properties 437.8 393.5 Total Assets 678.4 631.8 Current Liabilities…
  40. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 40
    2010 Operating Goals Reach early condensate FID and advance the development of liquid stripping plant to commercial operations Continue development of the Elk/Antelope Of course, our overarching goal remains field to continue…
  41. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 41
    In Summary Papua New Guinea is an under-explored frontier with world class assets strategically located on the doorstep of Asia Proving significant hydrocarbon resource for a stronger LNG Joint Venture GLJ Petroleum Consultants Ltd.…
  42. RBS ASIA PACIFIC ENERGY & ENGINEERING CONFERENCE – Interoil Corporation – slide 42
    Antelope-2 Flow Test December 1, 2009 44

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