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FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited

Cooper Energy Limited · Feb 17, 2014 · 25 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. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 1
    six months to 31 December 2013
  2. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 2
    Time: 10:30 AEDT Monday 17 February 2014 Toll-free Australia: 1800 123 296 Toll: + 61 2 8038 5221- (can be used if dialing from international location) Toll-free international dial in: - Canada 1855 5616 766 - China 4001 203 085 -…
  3. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 3
    Best-ever first half featuring NPAT of 13.6 million, record production, higher oil prices, strong margins and cash generation Production on track for full year guidance of 10% to 18% growth on pcp Financial strength maintained with…
  4. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 4
    Revenue of 37.0 million, up 58% Net profit after tax of 13.6 million up 198% from 4.6 million Cash and investments of 65.7 million Record half-year production of 0.30MMbbls, up from 0.21 MMbbl Hammamet West resource confirmation…
  5. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 5
    million unless otherwise indicated H1 14 H1 13 Production MMbbl 0.30 0.21 + 41% Sales volume MMbbl 0.29 0.21 + 37% Oil price average AUD/bbl 126.5 109.8 + 15% Sales revenue 37.0 23.4 + 58% EBITDA 21.2 8.1 + 163 % EBITDA/Sales…
  6. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 6
    million +13.6 -0.8 -1.2 + 0.9 -3.0 -0.5 13.6 4.6 H1 13 Sales revenue Other revenue Production Amortisation of Admin & other Tax expense H1 14 expenses E&D costs
  7. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 7
    million +41.8 -18.3 Total Cash & 0.0 +0.7 72.1 -31.6 Total Cash & Investments = 68.1 Investments = 65.7 20.2 25.2 Investments at fair value Investments at fair 47.9 value (1) 0.0 0.0 0.0 40.5 Cash & deposits Cash & deposits…
  8. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 8
    Half year production Half year production by region kbbl six months to December kbbl six months to December 300 29 267 217 225 10 213 Indonesia 271 Cooper Basin 203 2009 2010 2011 2012 2013 2012 2013 Highest first half…
  9. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 9
    Cooper Basin Market driven Basin focussed strategy Hammamet West resource Production: 0.5 MMbbl/pa Cooper Basin Production growth Large prospective acreage (12,600 km2) High margin oil production Otway Basin Low risk value-add…
  10. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 10
    Record half year production from Cooper Basin kbbl First half Netbacks of A97/bbl from Cooper Basin average oil price of A128/bbl Completion of successful 4 well development 271 program in PEL 92 203 Worrior 8: identified new…
  11. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 11
    Otway Basin Extended acreage position in Otway Basin through equity equalisation across 3 permits with Beach Energy. COE holdings now cover most of Penola Trough 2 well program commenced targeting deep unconventional plays in…
  12. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 12
    Sukananti KSO Production up from 54 bopd (COE share) to 158 bopd (COE share) due to successful workover initiative Further workovers planned for H2 14 Development drilling planned for H2 14 and H1 15 Sumbagsel PSC Completed 2D…
  13. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 13
    Hammamet West discovery Horizontal well confirmed pre-drill fracture reservoir model Production test unable to be completed Planning for ST-2 in second half CY14 to complete production test Independent contingent resource review…
  14. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 14
    FY14 production forecast to increase by 10% - 18% 0.58 on FY13 to 0.52 0.49 0.54 Increased output from Cooper Basin and Indonesia 0.41 Guidance for production of 0.54 0.58 MMbbl First half production of 0.30 MMbbl 0.30 FY11…
  15. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 15
    Location License Operator March Qtr June Qtr PEL 92 Beach Energy 3 exploration wells Cooper Basin PEL 90, 100,110 Senex 3D Processing Dundinna 3D processing Worrior-8 completion PPL 207 Senex Worrior-10 (Patchawarra appraisal…
  16. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 16
    Capital expenditure outlook Exploration Development FY14 H2 14 FY 14 H2 14 FY 14 H2 14 Australia Cooper Basin 15 8 7 4 8 4 Otway Basin 11 10 11 10 - - Indonesia 13 8 6 2 7 6 Tunisia 25 2 25 2 - - Total 64 28 49 18 15 10 1…
  17. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 17
    Strategy will continue to be fundamentals-driven: - technical and commercial + care - capital-prudent management Production and financial results at record levels for FY14 first half Full year production guidance re-affirmed Strong…
  18. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 18
  19. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 19
    Oil production and exploration - current approximately 1,500 bopd (net) Discovered 5.9 mill bbls (net) to date (1) Produced 4.1 mill bbls (net) to date (1) Extensive seismic acquisition in 2013 Exploration and development continues…
  20. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 20
    Strong regional position across Penola Trough Proven basin for conventional plays Close to markets & infrastructure Jurassic source rocks are gas prone with liquids potential 2 deep wells being drilled from January 2014 assessing…
  21. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 21
    22.9% interest in Bass Strait Oil Company (BAS) BAS assets include 5 offshore Gippsland Basin permits - gas exploration potential along northern margin - sizeable prospects Range of development and market opportunities Opportunities…
  22. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 22
    Sukananti KSO (COE 55%) currently 300 bopd (100% basis) multiple low risk opportunities with existing available infrastructure short pay-back periods contractor share: oil 15%; gas 20% (after tax) Sumbagsel PSC (COE 100%) shallow oil…
  23. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 23
    Many attractive features 3 contiguous permits, 12,600 km2 equivalent in size to the SA Cooper Basin Hammamet West oil discovery, a near term development opportunity multiple prospects and emerging fractured carbonate play potential…
  24. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 24
    David P. Maxwell Jason de Ross Andrew Thomas Managing Director Chief Financial Officer Exploration Manager David Maxwell joined Cooper Energy in Jason de Ross joined Cooper Energy in Andrew Thomas joined Cooper Energy in July September…
  25. FY14 HALF YEAR RESULTS AND OUTLOOK – Cooper Energy Limited – slide 25
    bbls barrels of oil boe barrel of oil equivalent bopd barrel of oil per day EBIT earnings before interest and tax EBITDA earnings before interest, tax, depreciation and amortisation k thousand LTI lost time incident MM million NPAT net…

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