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2006 INTERIM RESULTS PRESENTATION – Premier Oil

Premier Oil · Sep 21, 2006 · 52 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. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 1
    2006 Interim Results Presentation 21st September 2006
  2. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 2
    Forward looking statements This presentation may contain forward-looking statements and information that both represents management's current expectations or beliefs concerning future events and are subject to known and unknown…
  3. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 3
    Interim Results Presentation Highlights Simon Lockett Financial Results Tony Durrant Exploration & Appraisal Robin Allan Production & Development Neil Hawkings Page 4 2006 Interim Results Presentation
  4. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 4
    Highlights Page 5 2006 Interim Results Presentation
  5. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 5
    Operational highlights Production Profile Production Profile by Region (boepd) (boepd) 80000 80000 Asia Production up on 2005 full year average Potential new projects M/East & Pakistan 70000 70000 Booked reserves West Africa…
  6. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 6
    Financial highlights 64% Profit after tax - up Rising oil and gas prices, 64% to 33.7m stable production 1H 2005 1H 2006 218% Healthy cashflow up Disciplined approach to 218% to 172.3m expenditure 1H 2005 1H 2006 +43.8m…
  7. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 7
    Asia Middle East/Pakistan Asia Middle East / Pakistan Building on our Enhancing the Pakistan Natuna Sea position gas business Lembu trend appraisal Continuing production and Anoa oil finds growth Dua & Swan New gas contracts…
  8. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 8
    North Sea West Africa North Sea Returning to growth Fry development plan on track Applications in UK and Norway licensing rounds UK Peveril well in 4th Quarter West Africa Building a new core Business Seeking to optimise…
  9. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 9
    Financial Results Page 10 2006 Interim Results Presentation
  10. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 10
    Production and Income Statement 6 months to 12 months to 6 months to 30 June 2006 31 Dec 2005 30 June 2005 Highlights Working Interest Production (mboepd) 33.5 33.3 34.8 Oil and gas split steady at around 30/70 Entitlement Interest…
  11. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 11
    Cashflow 6 months to 6 months to 30 June 2006 30 June 2005 m m Net cash flow from operations 223.6 93.9 Net interest (1.3) (0.1) Taxation (50.0) (39.6) Operating cash flow 172.3 54.2 2006 2005 Capital expenditure (95.9)…
  12. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 12
    Balance Sheet As at As at 30 June 2006 31 December 2005 m m Intangibles 111.6 63.9 Vietnam farm-out will complete after Blackbird well Producing and Development Assets 570.1 568.9 Net cash resources of 43.8 million at Cash and…
  13. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 13
    Commodity pricing compared with hedges 2003-2012 Dated Brent Oil HSFO Singapore 180 (/bbl) (/metric tonne) 100.00 500.00 90.00 450.00 80.00 400.00 70.00 350.00 60.00 300.00 50.00 250.00 40.00 30.00 200.00 20.00 150.00…
  14. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 14
    Financial strategy Disciplined exploration spend of 50 million on a pre-tax basis under review for 2007 in light of E&A success Strong balance sheet and unused funding available for development capital and acquisitions Fully…
  15. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 15
    Exploration Highlights Page 16 2006 Interim Results Presentation
  16. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 16
    Vietnam Swan Blocks 12E & W Operator Premier Dua (spudded 1st May 2006) Canary Quit Dua Peacock Blackbird Blackbird Swan commericalisation Falcon opportunities for 2007 Falcon, Peacock and Quit: follow-on prospects…
  17. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 17
    Vietnam - Dua Premier Premier Dua-5X Dua-4X Dua-1X Dua-1X Discovery Dua-2X 12-A-1X 5km Page 18 2006 Interim Results Presentation
  18. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 18
    Vietnam new Dua Additional oil and gas discoveries in shallower reservoirs Premier Premier Dua-4X & -4Xst Dua-5X Dua-4x and -4xst intersected gas- bearing reservoirs NCS sandstones Dua-5x intersected gas and oil-bearing…
  19. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 19
    Indonesia drilling update Natuna A PSC Natuna Sea Block A PSC 2006 Success in: Macan Tutul-1 Lembu Petang-1 Lukah-1 Lembu Peteng-1 Planned Ibu Lembu follow-up drilling Q4 Lukah-1 2006 Macan Tutul-1 Page 20 2006 Interim…
  20. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 20
    Lembu Peteng follow-up potential A new oil and gas trend within tie-back Lembu Ibu distance to existing infrastructure Peteng-1 Lembu-1 Lembu Peteng Page 21 2006 Interim Results Presentation
  21. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 21
    Exploration the next 12 months 2006 2007 West Africa SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Guinea Bissau: Eirozes-1 Espinafre-1 Mauritania : Kibaro-1 Gabon : Themis-1 M/East & Pakistan Pakistan : Anne-1 Asia…
  22. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 22
    Vietnam opportunity set Quit Risky but big potential Swan Possible well to test gas volumes in SW of closure Dua Field Further appraisal Flamingo Major high, 3D repro Chim Dau being interpreted Near field exploration to Dua…
  23. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 23
    Vietnam - Blackbird Blackbird Prospect estimated 80 million barrels reserves potential 12E-LX-1X Existing Well 12E-LX-1X Premier 12E-CS-1X Thick sands with residual oil; Drilled outside structure Planned at crest drilled close to…
  24. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 24
    Indonesia drilling programme - 2007 Natuna Sea Block A PSC 3-4 wells are planned for 2007. Contenders are shown Tupai Lembu Peteng-2 Ibu Lembu Tenggiling Kakap Lembu Ganesha Page 25 2006 Interim Results Presentation
  25. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 25
    India high-impact wells Cachar Block 2 Tcf gas prospect Masimpur-1 mobilising for December 2006 spud Hailakandi-1 & Kanchanpur-1 follow-up wells, each with high potential Masimpur Anticline NW SE Seismic line POC-03-12 Primary…
  26. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 26
    Pakistan Anne high impact exploration W Anne-1 E Key well for Indus Delta 300 million barrels potential Now scheduled for July 2007 Page 27 2006 Interim Results Presentation
  27. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 27
    Gabon and Congo Page 28 2006 Interim Results Presentation
  28. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 28
    Congo high impact exploration Frida Prospect Kitina 150 m bbls Block Marine IX NKossa 280 m bbls Highly prospective block, with significant reserve potential. Moho 110 m bbls Premier 58.5% Operator Page 29 2006 Interim…
  29. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 29
    Congo Block IX : Frida Prospect Decree authorising award of PSC issued May 19th Presidential approval expected in August 2006 JOA signed by all parties Possible drilling end 2007early 2008 Estimated reserves 200MMBO Top Lower…
  30. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 30
    Gabon : Dussafu and Themis PSCs South Gabon Exploration Portfolio Themis Marin PSC 2005 3D Rig contracted for 3Q 2007 well Dussafu Marin PSC GMC-1 discovery Large oil-prone block Moubenga-1 discovery Reassessing existing…
  31. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 31
    Guinea Bissau high-impact wells At 50/bbl oil price economics generates 7 NPV/bbl 190 mbbls 175 mbbls Sinapa-1 Sinapa-2,2z Firm drilling programme commencing January 2007 Espinafre 70 mbbls 110 mmbbls 100 mbbls 300 mmbbls…
  32. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 32
    Guinea Bissau high-impact wells Eirozes Prospect: mean reserves 190 million barrels Eirozes-1 Proposed Well (WD= 120 metres) Salt Top Albian North Sand South Page 33 2006 Interim Results Presentation
  33. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 33
    Guinea Bissau high-impact wells Espinafre Prospect: mean reserves 70 million barrels Espinafre-1 Proposed Well (WD= 34 metres) Salt Top Albian Sand North South Page 34 2006 Interim Results Presentation
  34. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 34
    UK exploration - Peveril Blocks 39/2, 39/7 Premier share 30% Carried interest 40m bbl prospect Close to Fife infrastructure Drilling December 2006 Peveril Prospect Page 35 2006 Interim Results Presentation
  35. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 35
    UK exploration - Peveril Page 36 2006 Interim Results Presentation
  36. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 36
    Building for the future Licensing Rounds outstanding applications Indonesia Egypt Norway UK Out-of-round applications Farm-ins Acquisitions Page 37 2006 Interim Results Presentation
  37. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 37
    Operational Highlights Page 38 2006 Interim Results Presentation
  38. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 38
    Vietnam moving Block 12 into development Page 39 2006 Interim Results Presentation
  39. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 39
    Indonesia - North Sumatra Block A Certified 110 bcf (18mmboe) net discovered gas reserves with a ready gas buyer at a good price. 20+ exploration prospects, 1.5 tcf+ gross Partnership with ConocoPhillips, Medco and Japex…
  40. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 40
    Indonesia Natuna Sea Block A Anoa Development GSA 1 Existing oil and gas process and export Gajah Baru Focus of GSA2 Plans 500 Bcf of Certified Wet Gas Area Reserves Potential for Liquids First Gas 2010 Development Further…
  41. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 41
    Indonesia ongoing Anoa development West Lobe development drilling proceeding well 67 ft oil column confirmed in Central Lobe area - Potential to significantly increase Anoa oil production 100 ft hydrocarbon bearing interval…
  42. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 42
    Indonesia Block A drilling plans Indonesia JUL 2006 SEP NOV JAN MAR MAY 2007 JUL SEP NOV 2006 Drilling Programme West Lobe Wells Batch Drilled West Lobe Well Completions Ibu Lembu SA-21 WO Rig on contract to Serica 2007…
  43. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 43
    Pakistan - a continually growing gas business Qadirpur Kadanwari Further plant expansion to proceed Further development drilling to proceed Term sheet agreed for further 100 in 2006 and 2007 mmscfd from 2008 Deeper reservoir being…
  44. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 44
    Mauritania optimising the Chinguetti development Production commenced at 70,000 bopd, 5,700 bopd net Premier Current production 30,000 to 35,000 bopd - complex reservoir architecture Reserves under review by Operator Further…
  45. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 45
    Norway - progressing the Fry development New seismic acquired and processed Geological model constructed Reservoir model being built Development concept selection under way 20-50 mmbbl of reserves Development Plan submission…
  46. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 46
    Building for the future Premier is continually seeking new opportunities to add production growth opportunities to our portfolio via: Acquisitions License Rounds Farm-ins During the first half of the year we have been actively…
  47. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 47
    Summary Page 48 2006 Interim Results Presentation
  48. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 48
    Strategy Strategy Progress Targeting Drilling a high quality production growth exploration programme, to 50,000 bopd already yielding results Minimum of 4 high Gained Sumatra entry impact wells per via acquisition annum within…
  49. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 49
    5 Year production potential Production Profile Production Profile by Region (boepd) (boepd) 80000 80000 Asia Potential new projects M/East & Pakistan 70000 70000 Booked reserves West Africa North Sea 60000 60000 50000 50000 40000…
  50. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 50
    Exploration the next 12 months 2006 2007 West Africa SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Guinea Bissau: Eirozes-1 Espinafre-1 Mauritania : Kibaro-1 Gabon : Themis-1 M/East & Pakistan Pakistan : Anne-1 Asia…
  51. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 51
    Look Ahead Close out gas sales contracts in Indonesia/Pakistan Commercialise Fry, Dua & North Sumatra High impact exploration in Guinea Bissau, Vietnam, India, UK and Pakistan Actively target acquisitions in core areas Page…
  52. 2006 INTERIM RESULTS PRESENTATION – Premier Oil – slide 52
    Page 53 2006 Interim Results Presentation www.premier-oil.com September 2006

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