Presentation of Unaudited 3rd Quarter 2012 Results November 2nd 2012
Q3 Highlights Sales revenue amounted to MUSD 24.5 17% Revenue share resulting in net revenue of MUSD 20.4 Amortization rate of 45% of net revenue EBIT of MUSD 5.7 giving a 28% margin of net revenue MC Investment of MUSD 23.2 for…
Multi Client Revenue - Gross 40 3,3 35 30 11,1 25 0,1 MUSD 20 35,5 15 10,8 26,4 12,1 10 24,6 0,5 5 1,3 7,8 2,0 13,1 0 11,7 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Late Sale Early Sale
Q3 Highlights Increasing industry interest for the 11 round in Brazil with expected announcement H1-2013 Africa active with expected Gabon licensing activity and Namibia campaign completed with 16000 km of new MC2D available…
Q3 Highlights Lebanon MC3D-Ph1 of 2300 sq.km. completed and Ph2 planned for end of year acquisition Project pipeline of new MC2D and MC3D projects firming up for H1-2013 Key personnel recruited to strengthen NW Europe business unit
Multi-Client Seismic - Accounting Principles Matching principles: Match the recognition of cost that generate the revenue with when in time the revenue occurs This means that all the direct costs of the surveys are capitalized as…
Investment per Vintage Net Book Value (NBV) as % of original investment per financial year vs. allowed Maximum NBV 70 Millions 60 57 58 100% 50 84% 40 58% 30 46% 20 16 15 15 91% 10 75% 37% 38% 1 0 0% 0% 0% 18%…
Balance Sheet Key Figures (000s) SPECTRUM GROUP Assets 30.09.12 30.06.2012 31.12.11 (USD 1000) (Unaudited) (Unaudited) (Audited) MC Library 92,668 78,603 56,574 Other Intangible Assets 13,434 13,615 14,147 Tangible Assets 4,183…
Operational highlights More than 70,000 km of newly acquired MC2D available to the market from Q4-2012 Three 2D surveys and one 3D survey completed in the quarter Marine operations completed ahead of time and under budgeted…
Areas of High Interest
Focus area Lebanon 2,320 sq.km. acquired within one month High quality data over one of the most prospective areas offshore Lebanon 3D data confirms extensive structures, phase II acquisition preparations in progress Fast-track…
Focus area Lebanon 3D data will be essential for the license round evaluation to Determine the size and potential of structures Analyse for hydrocarbon response Map sand geometries and reservoir architecture S Tamar N SLEB 3D…
Focus area Namibia Established a strong presence in an area with limited exploration activity 16,000 km acquired over the Orange, Luderitz & South Walvis Bay basins Phase I reprocessing of 25,000 km existing MC2D data ongoing…
Focus area Northern Equatorial Margin Amazonas phase I completed Q3 Supported by industry 15,000 km Near Zaedyus discovery Amazonas infill ongoing Supported by industry 6,000 km, 85% complete License round timing estimated…
Other Projects Brazil Santos Campos completed Q3 Supported by industry 13,650 km in processing Recent discovery in Block 33 Various data processing projects 10 active Multi-Client data processing projects ongoing Adding value…
Outlook for 2012 Strong sales outlook for Q4-2012 MC Capex target firm for range USD70-80m Planning for 1-2 vessels in Q4-12 for new MC
Conclusions Preparing for key license rounds with MC2D and MC3D First MC3D successfully completed with Fast Track cube available November Spectrum continues the growth strategy with new MC investments
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