2008 Euroz rottnest Island Conference rEg NELSoN Managing Director HECTor gorDoN Chief Operating Officer
Financial Overview production: 4.6 mmboe with oil production up by 46% Upward trend since 2003 Sales revenue: 249 million 16% increase Upward trend since 2003 Operating Cashflow: 52 million 72% increase Increased sales volumes and…
Company Strategy Beach Petroleums strategy is: Invest in quality opportunities where Beach can add value Capitalise on significant acreage and infrastructure holdings Increase exposure to high reward exploration & development…
Key Projects Cooper oil Tipton West Record production Increased production Increasing reserves Further development planned Bmg Exploration Production resumed High reward in November International
Underlying Profit 1H 2007 1H 2006 m m Net profit after tax 58.769 23.705 Significant Items Remove BMG Sale 64.169 Remove unrealised commodity hedges 22.052 27.984 Remove exploration write-offs 5.511 0.876 Remove bridging finance setup…
Operating Cash Flow Up 72% due to increased sales volumes and commodity prices. 60 51.6m 50 Cash Flow ( millions) 40 30 29.9m 20.5m 18.2m 20 10 0 1H 2005 1H 2006 1H 2007 1H 2008
Production 11 Production has increased 10 9.4 10 times since 2003**. 9 Expectation production Production (MMboe) 8 can be maintained at 7 10mmboe/pa from 6 existing assets for the 5 910 next 3 years. 4 3 Increase in…
Reserves 100 Reserves have 89.6 90 increased approx 80 20 times since 2003**. Reserves (MMboe) 70 60 Current R/P ratio 9. 50 Substantial contingent 40 and possible resources 30 26.2 of 170mmboe. 20 10.8 10 4.2 0 2004…
Revenue Up 30% due to higher production and commodity prices, which outweighed the adverse AUD/USD exchange rate movement. 400 350 340m Revenue ( millions) 300 262m 250 200 150 100 79m 50 30m 0 1H 2005 1H 2006 1H 2007…
Delhi Hedging Profile All hedging due to run out by December 2008. 1.4 1.2 Hedging (MMboe) 1.0 0.8 0.6 0.4 0.2 0 July Dec June Dec June Dec 2006 2006 2007 2007 2008 2008
Australian Operations positive outlook Strong oil price Increase in reserves producing Assets Cooper Eromanga oil projects, Bmg, Tipton West Exploration portfolio Carnarvon Basin, otway Basin, Bass Basin, Taranaki Basin, Canterbury Basin
Cooper Eromanga Oil Projects 1H production 0.9 mmb Santos program Up 9% Development, Appraisal & Near Field Appraisal in central basin Reserves Dec 2007 15 mmb 1H 49 wells at 67% success Increase of 24% 1H Reserve adds 1.4 mmb Beach…
Cooper Eromanga Oil Projects New Field Exploration Beach Petroleum Near Field Murta Exploration Risk Targeted Drilling Infield Drilling STO Operated Cooper Oil Project Reward
Basker Manta Gummy Beach 30% post divestment Key operational issues 10% to Itochu (June 2007) encountered in 2007 resolved 10% to Sojitz (Dec 2007) Mooring repair completed Oil production now back at 2008 drilling aims to fully 11,000…
Tipton West Significant acreage Three pilot programs and resource position producing promising results 2P volumes: 293 PJ** 3P volumes: 2316 PJ** Close proximity to growing gas markets and key phase 1 development infrastructure drilling…
International Operations Beach is becoming increasingly active outside of our traditional Spain Albania Ebro Basin Duressi Block (Adriatic Sea) areas of interest: Opportunities are rigorously analysed and must meet technical and…
production 10mmboe (35% oil) Development Outlook Basker Oil development Manta Gummy gas appraisal and development Tipton West CSG expansion Callawonga and Parsons appraisal and development Exploration Total of 125 wells for FY 2008…
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