4 July 2013 The Manager, Company Announcements Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 HORIZON OIL (HZN) ANALYSTS' PRESENTATION Please find attached a copy of a presentation to…
HORIZON OIL LIMITED ABN 51 009 799 455 Analysts Briefing f 4 July 2013 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the nature of…
Topics (1) 1. Corporate Snapshot S h t Production forecast post Osaka Gas transaction Reserves, resources and exploration potential post Osaka Gas transaction 2. New Zealand Manaia deep and Maari deep wells to address new…
Topics (2) 4. Papua New Guinea Expansion of exploration acreage Status of Stanley (PRL 4) development licence application Status of FEED for Elevala/Ketu condensate recovery project (PRL 21) Tingu-1 exploration well in PRL 21 Sale…
Geographic Focus and Asset Location Focus on productive fairways and mature operating areas in SE Asia / Australasia Conventional plays with scale and upside - conservative approach to exploration 4
Horizon Oil Snapshot Market capitalisation of A386m at A0.34 per share on 2 July 2013 (1,135.3m shares) Current net production: Maari/Manaia 900 bopd priced at Brent plus US5-6 Beibu Gulf 3,000 bopd priced at Brent less US4…
Forecast Net Production From Reserves + Resources Post Osaka Gas Transaction 6
Net Reserves1, Resources1 and Exploration Potential1 Post Osaka Gas Transaction RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate 1 6 bcf gas equals 1 boe; 1 bbl condensate…
Maari /Manaia Fields New Zealand PMP 38160: Reserves at 1/05/13 (mmbo) HZN 10% (RISC estimate) OMV 69% (Op) Produced 22 Todd 21% Remaining developed 52 CUE 5% Remaining undeveloped 34 8
Maari/Manaia Growth Projects Objective to reconfigure water injection scheme, access undeveloped reserves and optimise production 9
Maari /Manaia Upside Potential Two wells to be drilled in 2013/14 to address new reserves - unrisked potential of 20 - 25 mmbo 10
PEP 51313 New Zealand Deep prospect and lead inventory with 163 mmbo potential PEP 51313: HZN 21% ((10% Whio)) OMV 30% (Op) Todd 35% CUE 14% Whio-1 to be drilled in Q1 2014 with mean potential of 27 mmbo (operator estimate)…
Beibu Gulf Fields, China Development Areas Block 22/12 Post-CNOOC Back-in: HZN 26.95% CNOOC 51.00% (Op) ROC 19.60% Majuko Corp 2.45% Gross reserves 1P 2P 3P (mmbo) As at 31/12/2011 18.5 24.0 29.4 Additi Additions 44 4.4 43 4.3…
Beibu Gulf Fields Key Points 2 phase development in 40 - 60 m water depth utilising CNOOC platform facilities, export pipeline and terminal on Weizhou Island Phase 1 platforms WZ 6-12 and WZ 12-8W connected by pipeline to PUQB…
Beibu Gulf Fields Phased Development Scheme 14
WZ 12 12--8E Early Production Concept Phase II WZ 121PUQB Leased L d mobile bil production d ti platform NOED Mobile Production Platform Production Platform Flexible pipeline Initially up to three production wells Run…
Papua New Guinea Horizon Oil acreage position expanded to 7,900 sq km, primarily in wet gas sweet spot 16
PNG Exploration and Development Program - Key Points Commanding 7,900 sq km acreage position in liquids-rich sweet spot of foreland area with certified condensate and gas resources of 125 mmboe net, subject to reduction when…
Horizon Oil Acreage and Joint Venture Partners PRL 4: HZN 30% (Op) Osaka Gas 20% Talisman 40% Mitsubishi 10% PRL 21: HZN 27% (Op) Osaka Gas 18% Talisman 32.5% Kina 15% Mitsubishi 7.5% PPL 259: HZN 15% Osaka Gas 10% Eaglewood 65%…
Tingu Well Site Mid- Mid-June 2013 Scheduled spud mid- August 2013 Mean prospective resources (RISC estimate): - 459 bcf b f gas - 25.6 mmbbl condensate - 14.9 mmbbl LPG included in gas 19
Strategic Alliance with Osaka Gas Co. Ltd. Of Japan 60:40 strategic alliance with global gas company to provide funding + valuation + pathway to LNG commercialisation Sale of 40% of Horizon Oil Oils s interests in PRL 4, 4 PRL 21…
Analysis of Consideration Payable in Osaka Gas Transaction Value/consideration (m) of 40% slice of Horizon Oil assets Mitsubishi lookthrough 132 Comparables 74 99 Sale to Osaka Gas 74 130 70 250 Unrisked NPV 141…
Growth in Resources, Transaction Multiples and Value Transaction HZN to TLM TLM to MC HZN to OG1 HZN to OG2 Date 15 Sep 09 23 Feb 12 23 May 13 23 May 13 Licences PRLs 4/5 PRLs 4/21 PRLs 4/21 PRLs 4/21 Certified gross P50…
PNG Gas Commercialisation Options P Power generation ti Ok Tedi Mining Limited (OTML) Frieda River project (if sanctioned) Local towns and communities in Kiunga OK Menga Frieda River corridor Export to West Papua: Merauke,…
Daru Port Proposed Stage 1 SDP/Qube joint venture Stage 1 involves floating wharf and barge for copper concentrate storageg FID for Stage 1 - 2013 Completion for OTML January 2015 or earlier Channel to be dredged to 11 m depth…
Upcoming News Flow Timeframe Improved production performance from Maari/Manaia fields and progress on Q3 2013 - 2014 appraisal pp drilling g and field upgrade pg Ramp up to peak oil production of Beibu Gulf fields Phase I…
Please visit the Horizon Oil website www.horizonoil.com.au to see:- see:- Detailed Investor Presentation Latest Quarterly Report Analyst reports on HZN Level 7, 134 William St, Woolloomooloo NSW 2011 The reserve and resource…
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