Focused on Growth Bruce Clement, Managing Director Good Oil Conference, Fremantle, WA 10 September 2014
Highlights For the 12 months to 30 June 2014 3
AWE delivers foundations for growth Strong operating performance and financial results achieved in FY2013-14 Proactive management of portfolio of quality production, development and exploration assets Foundations established for…
Strong financial performance in FY13-14 Total Production 5.6 million BOE, up 13% Sales Revenue 328.2 million, up 9% Field EBITDAX 208.8 million, up 13% Statutory NPAT * 62.5 million, up 213% Net Cash 42 million Undrawn facilities 300…
Highlights and milestones Guidance Actual Key Indicator FY2013-14 FY2013-14 Production (million BOE) 5.0 5.5 5.6 Sales Revenue (m) 290 320 328 Development Expenditure (m) 160 180 144 Exploration Expenditure (m) 50 44 Ande…
HSE focus achieving positive results AWE Operated 12 Month Rolling Average Performance Indicators 10.0 9.0 AWE Lost Time Injury 8.0 Frequency Injuries per million man hours 7.0 6.0 AWE Total Recordable 5.0 Case…
Field EBITDAX 13% uplift reflects strong performances from long life assets, Sugarloaf and BassGas 8
More than 16 years of 2P production* * Based on FY2013-4 total annual production of 5.6 million BOE 2P Reserves weighted towards liquids and high value gas markets 9
Growth Strategy 10
Strategy built on three core platforms Strong oil Indonesia, China prices; Oil favourable New Zealand Australia currency Leveraged to pricing & Australia High Value Gas demand upside; Indonesia oil linked Liquids…
Growing presence in high value markets 12
The AWE Advantage Clear business strategy and goal Balanced portfolio with play diversity Multiple growth opportunities with infrastructure options Market access and attractive pricing Technical and commercial excellence Early…
Delivering growth Ande Ande Lumut oil Perth Basin project unconventional development gas Pateke tie-in to development boost Tui production BassGas development wells to access significant Note: Graphic representation only…
Forecast production outlook Achieve target of 10 mmboe by 2018 Note: As at 30 June 2014, based on Brent Oil price of US100 per bbl, illustrative model only and not formal company guidance. Production Variance refers to…
Major Growth Projects 16
More growth potential at Sugarloaf Sugarloaf AMI, Texas, USA Production from Sugarloaf up 31% over the previous financial year 2P + 2C increased by 82% following independent review 55 new wells spudded in FY2013-14 (37 in the 2H, 30…
BassGas MLE development Achieved FID for 2 development wells in summer of 2014-15 Jack up rig, West Telesto, contracted Capex estimate of 213 million gross (net 75 million to AWE at 35%*) Opportunity to accelerate remaining stages…
Increased Tui production in CY2015 Pateke-4H development well completed and suspended Tie-back operations to Tui FPSO planned to commence in 1Q CY2015 Production from Pateke-4H likely to commence in 2Q CY2015 Estimated tie-back…
Good progress in Indonesia Ande Ande Lumut Oil Project Wellhead platform FEED nearing completion Revised FPSO tender process to commence in 2H CY2014 FID planned for mid-2015 Targeting first oil in late 2017 JV considering G-Sand…
Exciting new discovery in Perth Basin Senecio-3 confirmed viability of Senecio field development of Dongara/Wagina reservoir Estimated gross 2C for Senecio revised upwards to 70 Bcf (P50) with range 40/70/130 Bcf (P90/P50/P10)…
Senecio-3 stratigraphy 22
Perth Basin gaining momentum Perth Basin has existing production, infrastructure and markets Multiple plays conventional and tight gas sandstones, oil and gas shales o Northern tight gas play o New discovery, Waitsia, potentially a…
Outlook 24
Looking ahead near term catalysts Exciting developments in the onshore Perth Basin o Conventional flow test of Senecio field and new Waitsia discovery in 2014; considering additional appraisal in 2015 o Irwin-1 well planned for…
Guidance for FY2014-15 Guidance Key Indicator FY2014-15 Production (million BOE) 4.6 5.1 Sales Revenue (m) 290 - 320 Development Expenditure (m) 220 - 250 Exploration Expenditure (m) 50 Production guidance lower than…
Thank You
Appendix Full year financials and supplementary information 28
Total production Strong production performance exceeded guidance in FY13-14 29
Sales revenue FY13-14 Sales Revenue reflects improved production and strong pricing from target markets 30
Earnings analysis Sale of 50% of AAL contributed to strong result, offsetting higher exploration expense 31
Investment Analysis FY2014-15 planned capex funded from operating cash flow and existing debt facility 33
Balance Sheet and Funding FY 2013-14 Balance sheet item million Assets Cash and cash equivalents 42.1 Receivables and inventory 139.9 Exploration and evaluation assets 109.3 Oil and gas assets 802.1 Assets held for sale 84.3…
AWE 2P Reserves as at 30 June 2014 2P Reserves Project/Area Equity (million boe) BassGas 46.25% 26.0 Otway Basin 25.0% 9.7 Cliff Head 57.5% 2.6 Onshore PB 33-100% 2.1 Tui 57.5% 3.6 Sugarloaf 7.5%* 23.9 AAL 50%** 23.2 Total…
AWE 2C Resources as at 30 June 2014 2C Resources Project/Area Equity (million boe) Bass Basin 44.75-46.25% 36.0 Otway Basin 25.0% 1.8 Cliff Head 57.5% 0.6 Onshore PB 50%-100% 7.1 Tui 57.5% nil Sugarloaf 7.5%* 13.2 AAL 50.0%**…
Loading...
