Disclaimer This presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (relevant persons). Any person who is not a relevant person should not act or rely on these…
Q1 2012 Highlights Total Q1 Revenue approx. USD 22.6 million; EBITDA USD 3.4 million Impact from WilPhoenix planned idle time and WilHunter downtime Q1 Opex per rig approx. USD 76,000 per day High tendering activity during the…
2. Contract Overview
Contract Status 2012 and 2013 AWILCO DRILLING PLC CONTRACT STATUS 2012 2013 June July August September October NovemberDecember January February March April May June July August September October NovemberDecember WILHUNTER : MPX…
3. Q1 2012 Financial Results
Q1 2012 Income Statement Condensed statement of comprehensive income in USD thousands, except earnings per share 31 Dec Q1 2012 Q1 2011 2011 (unaudited) (audited) audited Contract revenue 19 516 0 75 830 Reimbursable 225 0 420…
Q1 2012 Balance Sheet Condensed statement of financial position in USD thousands 31.03.2012 31.12.2011 (unaudited) (audited) Rigs, machinery and equipment 259 249 262 573 Other non-current assets 259 249 262 573 Trade and…
Operations Summary The rigs have worked for 6 customers on the UKCS since their launch in 2011 The rigs have drilled 5 wells and 2 sidetracks (with 4 geological successes) as well as performing 2 well abandonments Both units are…
4. Market Outlook
The UK Market is Tight Source: Fearnley Fonds 13
but intl markets also improving limited influx going forward Source: Fearnley and ODS-Petrodata 15
The UK Market is sold out for 2012 and most of 2013 Source: ODS-Petrodata 16
5. Summary
Summary Market continues to strengthen Term contracts secured Employment secured through Q2 2014 Total contract backlog of USD 394 million Well positioned to start dividend payments in 2013 Evaluating growth opportunities on a…
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