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Q1 2015 RESULT – Magseis Asa

Magseis Asa · May 13, 2015 · 18 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. Q1 2015 RESULT – Magseis Asa – slide 1
    Magseis ASA First Quarter 2015 13 May 2015 1
  2. Q1 2015 RESULT – Magseis Asa – slide 2
    Content 1. Highlights 2. Operational update 3. Financials 4. Summary and Q&A 3
  3. Q1 2015 RESULT – Magseis Asa – slide 3
    This is Magseis Industry leading ocean bottom Ticker MSEIS seismic (OBS) company Start of operations Oct 2013 Shares outstanding 27,162,561 One vessel in operations Market cap (NOKm) 650 73 employees Book Equity Q1 15 (USDm) 56.1…
  4. Q1 2015 RESULT – Magseis Asa – slide 4
    Key figures Q1 2015 Financial performance to date Revenue USDm Q1 revenues of USD 5.7 million Revenues low due to significant steaming time, low production and yard stay 16,4 14,6 13,9 EBITDA 11,8 Q1 EBITDA of USD -4.1 million…
  5. Q1 2015 RESULT – Magseis Asa – slide 5
    Content 1. Highlights 2. Operational update 3. Financials 4. Summary and Q&A 6
  6. Q1 2015 RESULT – Magseis Asa – slide 6
    Red Sea pilot successfully completed 3D OBS pilot survey undertaken to qualify MASS for use with Saudi Aramco Working in partnership with BGP International Highly efficient operation conducted on time and budget Proved MASS…
  7. Q1 2015 RESULT – Magseis Asa – slide 7
    Athene now upgraded Athene upgrade now completed 4500 sensor units (partly G2) Additional handling equipment (can handle up to 5000-6000 sensor units) All [8] winches in operation Operating 150km of cable 5yr classing of…
  8. Q1 2015 RESULT – Magseis Asa – slide 8
    Chevron survey now ongoing Challenging 4D survey with demanding specifications for sensor positioning and data quality First deployment with 150km of cable New long-life nodes deployed with ROV under infrastructure Lower-than…
  9. Q1 2015 RESULT – Magseis Asa – slide 9
    Current back-log and leads Current Chevron project expected to run through July Working on several leads in North Sea for remainder of North Sea Season Ongoing tender for Saudi Aramco Tenders coming out in SE Asia during May…
  10. Q1 2015 RESULT – Magseis Asa – slide 10
    Content 1. Highlights 2. Operational update 3. Financials 4. Summary and Q&A 11
  11. Q1 2015 RESULT – Magseis Asa – slide 11
    New issue successfully completed On May 6th Magseis announced a proposed new equity issue of up to 2,716,256 new shares equal to 10% of the existing share capital of the company at a price of NOK 22 per share Use of proceeds: To…
  12. Q1 2015 RESULT – Magseis Asa – slide 12
    Q1 results 2015 - Comprehensive income All figures in USD thousands Q1/YTD 15 Q1/YTD 14 Revenue 5,726 13,853 Revenue Cost of sales 6,874 9,157 Lower due to steaming (Saudi Arabia), less production and yard stay during the Research and…
  13. Q1 2015 RESULT – Magseis Asa – slide 13
    Q1 results 2015 - Financial position All figures in USD thousands 31-Mar-15 31-Mar-14 31-Dec-14 Equipment and intangibles 49,716 39,888 48,285 Cash and cash equivalents 11,299 7,504 21,591 Other current assets 9,762 11,678 12,145…
  14. Q1 2015 RESULT – Magseis Asa – slide 14
    Q1 results 2015 - Cash flow All figures in USD thousands YTD 15 YTD 14 Cash flow from oprating activities -5,176 2,502 Cash flow from investing activities -4,812 -2,313 Cash flow from financing activities -303 -276 Net change in cash and…
  15. Q1 2015 RESULT – Magseis Asa – slide 15
    Content 1. Highlights 2. Operational update 3. Market review 4. Financials 5. Summary and Q&A 16
  16. Q1 2015 RESULT – Magseis Asa – slide 16
    Next step in strategic growth plan Upgrade of Artemis Athene to 150km of cable Total km of cable (4,500 sensor unit) now completed 500 450 Preparations for Crew 2 well underway 400 6,000 sensor units / 300km, target Q216…
  17. Q1 2015 RESULT – Magseis Asa – slide 17
    Summary investment case Clients extremely pleased with MASS data quality and performance Very solid foundation Strong improvement in productivity during 2014 Positioned to handle Severe cost cuts across the industry challenging…
  18. Q1 2015 RESULT – Magseis Asa – slide 18
    Questions Magseis ASA 19

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