SEVEN ENERGY FULL YEAR RESULTS - 2014 30 April 2015
Presentation team Phillip Ihenacho Chief Executive Officer Co-founder of Amaya Capital Partners, an early investor and active supporter of Seven Energy Established and ran Afrinvest for over 10 years Former chairman of the Aureos…
Highlights OPERATIONAL Oil entitlement 15,800 bopd; gas deliveries 23 MMcfpd Gas deliveries commenced to Ibom Power in January 2014; three new gas take-or-pay customers signed Ongoing gas infrastructure development 37km Uquo to Oron…
Operations overview 5
Operational performance Increased oil entitlement Increased oil liftings (bopd) (bopd) 15,800 10,400 10,000 9,000 3,100 3,600 2012 2013 2014 2012 2013 2014 First gas sales in south east Increased net reserves and…
South east overview Net reserves and resources split Total: 130 (MMboe) 2P 2C Oil 8 5 Gas 65 52 9% Gas Oil 91% Customers and commercial progress Customer Customer details Capacity Progress Ibom Power Akwa Ibom State…
North west overview Net reserves and resources split Total: 222 (MMboe) 2P 2C Oil 68 50 Gas 80 24 53% Gas Oil 47% 2014 Highlights Production 52,500 bopd daily average gross production (2013: 51,600 bopd) Entitlement…
Strategic Alliance Agmt Group accounting (m) Cost treatment on Balance Sheet and Income Statement When the cost returns are received they are booked to fixed assets or operating costs and accounts payable or accruals depending on their…
Income statement Profit for the year Gas sales generated a 33m m 2014 2013 increase to revenue with the first Revenue 378 345 year of south east Niger Delta gas Cost of sales deliveries - Production expenses (232) (171) Underlift…
Balance sheet 2014 Capital Investment - 912m m 2014 2013 Sm 2014 2013 Non-current assets 2,001 1,162 OMLs 4, 38 & 41 408 338 Current assets 376 214 Uquo field 160 157 Current liabilities (729) (675) Stubb Creek Field 6 11 Non-current…
Cash flow m 2014 2013 Significant investment during 2014 Operating cash flows before movements in working capital 261 208 Decrease in cash from operating activities due to increased Working capital movements (120) (36) underlift,…
2015 funding plan Accugas New Accugas facility to refinance existing facilities into one well advanced Credit approval in place for new Accugas facility from majority of lenders Target financial close in mid May Revolving Capital…
Key 2015 initiatives Progress construction of Oron to Creek Town gas pipeline, ensuring growth in gas demand is met Further develop strong gas delivery position in south east Niger Delta Anticipate full utilisation of gas processing…
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