2012 RESULTS PRESENTATION Rio de Janeiro March 27, 2013
1 2012 HIGHLIGHTS
2012 HIGHLIGHTS AND SUBSEQUENT EVENTS OGX reaches production stage: OGX hit a historical milestone in 2012 initiating oil production, only 4 years after its creation. Production in the Tubaro Azul Field reached 3.2 million barrels and…
2 FINANCIAL & OPERATIONAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS First revenue stream achieved in 2012 KEY FINANCIAL METRICS 4Q 2012 2012 Revenues (R mm) 175 325 Revenues of R325 million booked in 2012 from 3rd and 4th offloads EBITDA Pro forma (R mm) (38) (343) Delivery…
CASH POSITION Disciplined cash management focused on maintaining flexibility for ongoing operations and additional opportunities Cash Flow (US million)1,2 Cash Spending Accrual Basis (US million)1 (2,310) Capex 394 708 SG&A/G&G…
4Q12 & 2012 OPERATIONAL HIGHLIGHTS: PRODUCTION Production advancing Campos Basin: 907,000 barrels of oil produced in 4Q12 at an average daily production of 10.2 kboepd Total production volume of 3.2 million boe in the Tubaro Azul…
OPERATIONAL HIGHLIGHTS: CAMPOS BASIN Tubaro Azul Field Development Tubaro Martelo Field Development BM-C-41 BM-C-39 TUBARO AZUL TUBARO MARTELO 35D TBMT-10H Exploration wells drilled TBMT-8H Exploration wells drilled 25…
OPERATIONAL HIGHLIGHTS: PARNABA BASIN Gavio Real Field Development Three turbines synchronized as of March 16, 2013; Average Monthly Production (kboepd) average net gas production of 5.5 kboepd (0.9 M m/d) 5.5 in February 2013…
4Q12 & 2012 OPERATIONAL HIGHLIGHTS: EXPLORATION 70% success rate in exploratory and appraisal program in 2012 Campos Basin: Declaration of Commerciality of Pipeline and Fuji-Illimani accumulations (Tubaro Tigre, Tubaro Gato and Tubaro…
EXPLORATION HIGHLIGHTS Campos Basin New Fields and PADs Santos Basin New PADs New Fields Declared Commercial PAD (Discovery Evaluation Plan) Areas Returned to the ANP Fields already Declared Commercial Declarations of…
3 COMPANY OUTLOOK
2013 OUTLOOK 2013 Estimated Capex 2013 Capex Breakdown Development 2013 Annual Tubaro Martelo: Preparing for arrival of FPSO OSX-3 estimate: Exploration US1.3 billion Tubaro Tigre, Tubaro Gato and Tubaro Areia: 25% Finalizing…
UPCOMING EVENTS Events by Basin Other Key Events Campos Basin: Third party resources report Drill appraisal wells and perform tests as execution of the PADs Arrival of FPSOs OSX-2 and OSX-3 Parnaba Basin: Production expected to…
APPENDIX
FINANCIAL STATEMENTS R ('000) INCOME STATEMENT 2012 2011 4Q12 4Q11 Net revenue 325,393 - 325,393 174,707 - 174,707 Cost of goods sold (COGS) (224,802) - (224,802) (100,203) - (100,203) Exploration expenses (227,350) (189,775)…
FINANCIAL STATEMENTS R ('000) BALANCE SHEET Dec 31, 2012 Dec 31, 2011 Dec 31, 2012 Dec 31, 2011 ASSETS LIABILITIES AND EQUITY Current assets Current Liabilities Cash and cash equivalents 3,381,326 5,367,451 Trade payables 925,513…
FINANCIAL STATEMENTS R ('000) R ('000) FIXED ASSETS LOANS AND FINANCING Balance as of December 31, 2011 6,172,783 Balance as of December 31, 2011 (4,772,414) (+) CAPEX (-) New fundings (2,536,892) Campos Basin 2,707,599 (-)…
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