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Q2 2013 Earnings Call – Dana Gas

Dana Gas · Aug 14, 2013 · 24 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. Q2 2013 Earnings Call – Dana Gas – slide 1
    The Middle Easts Leading Private Sector Natural Gas Company 2nd Quarter 2013 Financial Results 14 August 2013 www.danagas.com 1
  2. Q2 2013 Earnings Call – Dana Gas – slide 2
    Presentation Outline Performance Highlights Financial Performance Country Business Highlights Egypt Kurdistan UAE Summary www.danagas.com 3
  3. Q2 2013 Earnings Call – Dana Gas – slide 3
    Performance Highlights Patrick Allman-Ward CEO Designate www.danagas.com 4
  4. Q2 2013 Earnings Call – Dana Gas – slide 4
    Performance Highlights : 2Q 2013 vs 2Q 2012 Production Production of 61,700 BOEPD, up 5% on Q-o-Q basis In Egypt, production up 12% to 34,700 BOEPD as a result of tie-in of earlier discoveries Production lower by 3% to 27,000 BOEPD…
  5. Q2 2013 Earnings Call – Dana Gas – slide 5
    Performance Highlights : 1H 2013 vs 1H 2012 HSSE Strong focus on HSSE continues across the Group with improvements across all performance metrics Production Group production up at 61,500 BOEPD, marginally higher on a year-on-year…
  6. Q2 2013 Earnings Call – Dana Gas – slide 6
    Financial Performance Azfar Aboobakar Head Financial Control & Reporting www.danagas.com 7
  7. Q2 2013 Earnings Call – Dana Gas – slide 7
    Financial Highlights: 2Q 2013 vs 2Q 2012 Percentage (In million) Q2 2013 Q2 2012 Change Gross Revenue 144 151 (5) Net Profit 27 49 (45) EBITDAX 80 99 (19) EPS (AED fils) 1.5 2.7 (44) Positive impact of higher production offset…
  8. Q2 2013 Earnings Call – Dana Gas – slide 8
    Financial Highlights: 1H 2013 vs 1H 2012 Percentage (In million) 1H 2013 1H - 2012 Change Gross Revenue 296 342 (13) Net Profit 93 105 (11) EBITDAX 168 220 (24) EPS (AED fils) 5.2 5.8 (10) Decline in revenue mainly due to…
  9. Q2 2013 Earnings Call – Dana Gas – slide 9
    Profit After Tax Bridge 2Q 2013 Vs 2Q 2012 (all figures in million) 60 50 (7) 40 0 (5) 30 (9) 1 (1) 3 49 (4) 20 27 10 0 Q2 2012 Revenue - Revenue - Royalty & COS and Investment G&A Finance cost Exploration Q2 2013…
  10. Q2 2013 Earnings Call – Dana Gas – slide 10
    Profit After Tax Bridge 1H 2013 Vs 1H 2012 (all figures in million) 120 100 3 (1) (4) (16) 2 5 80 9 (30) (1) 34 60 105 (13) 93 40 20 0 1H 2012 Revenue - Revenue - Royalty & COS and Investment & Provision for Change…
  11. Q2 2013 Earnings Call – Dana Gas – slide 11
    Production Rounded to nearest hundred Q2 2013 Vs Q2 2012 2013 2012 1H 2013 Vs 1H 2012 70,000 70,000 Production (Boepd) 61,700 61,500 60,900 58,900 60,000 60,000 50,000 50,000 40,000 40,000 34,700 34,200 32,800 31,000…
  12. Q2 2013 Earnings Call – Dana Gas – slide 12
    Average Realized Prices Q2 2013 Vs Q2 2012 2013 2012 1H 2013 Vs 1H 2012 120 120 112 105 109 106 104 102 100 95 100 100 80 77 80 67 66 61 60 60 40 40 20 20 0 0 Condensate LPG (USD/boe) Crude Oil Condensate LPG…
  13. Q2 2013 Earnings Call – Dana Gas – slide 13
    Billing & Collection As of June 2013 (all figures in million) Egypt Kurdistan Region of Iraq 95% 300 55% 180 171 163 258 160 250 140 200 120 US Million US Million 100 68% 150 143 81 56% 80 109 60 55 100 61 40…
  14. Q2 2013 Earnings Call – Dana Gas – slide 14
    Country Business Highlights Leonardo Salvadori Head Business Development www.danagas.com 15
  15. Q2 2013 Earnings Call – Dana Gas – slide 15
    Egypt: Business Environment Economic and political situation likely to stabilize with wider relations with the international investment community - over 12 billion in support by Saudi Arabia, UAE and other Gulf Arab states seen as a…
  16. Q2 2013 Earnings Call – Dana Gas – slide 16
    Egypt: Nile Delta Operations Discoveries: Begonia -1 tested 1.6 kboed El Wastani Reserves estimated at 15 bcf New Development Leases: Sama Amendment (West Sama) El Basant Amendment (Allium) Balsam Begonia Begonia 1 New Fields…
  17. Q2 2013 Earnings Call – Dana Gas – slide 17
    Kurdistan Operations Total net production averaged at 27,300 BOEPD during 1H 2013: 130 MMSCFD of natural gas 5730 Bbl/D of condensate Enhanced bench strength by placing key positions Completed engineering, fabrication,…
  18. Q2 2013 Earnings Call – Dana Gas – slide 18
    UAE: Zora Project Update Project scope includes the following: Offshore platform Offshore & Onshore Pipeline (35 km offshore & 2.5km onshore Gas Treatment Onshore Plant (to receive 40 MMSCFD of gas and 300 bbl/day associated…
  19. Q2 2013 Earnings Call – Dana Gas – slide 19
    Summary Patrick Allman-Ward CEO Designate www.danagas.com 20
  20. Q2 2013 Earnings Call – Dana Gas – slide 20
    Summary Taking a risk based approach to HSSE and asset integrity managing to ALARP Improving foreign currency reserves situation in Egypt may positively impact our receivables situation Taking a cautious approach towards capital…
  21. Q2 2013 Earnings Call – Dana Gas – slide 21
    Reach Us: Dana Gas PJSC Robinder Singh Investor Relations Director Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : rsinghdanagas.com Direct : +971 6 519 4401 Fax : +971 6 556 6522 22
  22. Q2 2013 Earnings Call – Dana Gas – slide 22
    HSE On Track to Outperform Performance Metrics 2012 - a turning point for Dana Gas with several lessons learnt. We implemented new strategies that resulted in the following: All three operating areas have shown improvements in HSE…
  23. Q2 2013 Earnings Call – Dana Gas – slide 23
    Group Key Risks and Mitigations BUSINESS RISK MITIGATIONS & COMMENTARY Receivables risk management through ongoing discussions with key stakeholders in Egypt and KRI. Conservative capital allocation and cash utilization policy, while…
  24. Q2 2013 Earnings Call – Dana Gas – slide 24
    Egypt 12 months drilling performance Creating records on cost/time and maintaining focus on HSE Drilled 3,000m slim hole well in 17 days with total cost 1.7 million (historical performance of 25-30 days and 2.5-3 million) Lowest cost…

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