2012 Interim Results For the six months ended 31 December 2011 Briefing Presentation Andrew Knight CEO, Craig Jones CFO 22 February 2012 New Zealand Oil & Gas Limited
2012 Interim Results Summary Kupe & Tui fields Steady revenues and sustained operating earnings NZ Exploration Active farmout campaigns for Kakapo and Barque International Expansion Cosmos development in Tunisia (FID due…
Financial Highlights New Zealand Oil & Gas Limited 3
Financial Summary Amounts in NZ millions Half Y/E Half Y/E Y/E 31 Dec 11 31 Dec 10 Jun 11 Revenue 54.6 40.5 106.5 EBITDAX* 33.1 15.7 58.5 Exploration Write offs (0.6) ( 2.6) (3.4) Depreciation and Amortisation (13.3) (11.9) (22.4)…
Contribution by Field Amounts in NZ millions Kupe Tui Other Half Y/E Dec 11 Revenue 37.1 17.5 - 54.6 EBITDAX* 24.7 12.2 (3.8) 33.1 Exploration Write offs - - (0.6) (0.6) Depreciation and Amortisation (10.3) (2.8) (0.2) (13.3)…
Abnormal Items Amounts in NZ millions Half Y/E Half Y/E Y/E 31 Dec 11 31 Dec 10 Jun 11 Pike River Coal Ltd related losses: - Equity Investment impairment - (77.1) (77.1) - Net Fair Value loss on Bonds (4.1) (7.5) (6.4) - Impaired…
Cash & Debt Position 31 Dec 2011 Total Cash (NZ) 191.5 million cash balance at 31 December 2010 40% held in US dollars, balance in NZ dollars Debt Position (NZ) 8.5 million paid off Westpac Debt Facility during period Remaining…
Production Forecast On track to meet FY2012 forecasts Two fields provide strong long-term cashflows 1.200 (millions of barrels of oil equivalent) 1.000 0.800 NZOG Production 0.600 Kupe Gas Kupe LPG Kupe Oil 0.400…
Operational Highlights New Zealand Oil & Gas Limited 9
Kupe Gas and Oil Field NZOG 15% NZOGs largest revenue source 37.1 million for six month period NZOGs share of production for half year: 1.45 PJ of sales gas 139,000 barrels of light oil 6,300 tonnes of LPG Slightly higher…
Tui Area Oil Fields NZOG 12.5% Tui continues to make valuable contribution 17.5 million for six month period NZOGs share of production for half year: 148,000 barrels On track to achieve full year forecast of 275,000 barrels…
Portfolio Development Lower cost exploration acreage in Indonesia Promising development opportunity and exploration acreage in Tunisia Active farm out campaigns for Kakapo in Taranaki Basin and Barque in Canterbury Basin Focus on…
NZ: Kakapo Kakapo prospect has estimated mean prospective resources over 200 mmbbls NZOG seeking suitable drilling rig and additional partner Looking at drilling in 2012/13 summer New Zealand Oil & Gas Limited 13
NZ: Barque NZOG has taken on Operatorship International campaign to attract additional partner into joint venture Drill or drop decision required by August New Zealand Oil & Gas Limited 14
Tunisia: Cosmos Concession Existing discovery 6.3 mmbbls with potential upside 40% stake acquired US3m upfront payment US19m contribution to partners cost if development proceeds Reservoir assessment and engineering design…
Tunisia: Diodore Block 2 year prospecting permit On trend with producing fields Existing 2D & 3D seismic coverage New 470km 2D Seismic Survey completed Analysis will determine whether an exploration permit is applied for NZOG…
Indonesia Working with Indonesian-focused partner Current focus on Sumatra 22.5% stake in permit with drilling imminent Two Joint Study Agreements (JSA) awarded and 3rd applied for Other opportunities under assessment New…
Delivering on a growth promise Evolution of the Strategy - a change of emphasis NZOG has been focused in last two years on opportunity assessment (acquisition) to achieve country entry With core areas established, the focus is now…
Delivering on a growth promise Aim for about NZ35m/year in exploration investment Say, 5 projects averaging NZ7m (NZOG share) Some generated internally (and farmed down) Farm in or other acquisition deals to fill portfolio…
Outlook the year ahead 2012 activity: Possible drilling in offshore Taranaki (Kakapo) Assessment of NZ blocks offer Cosmos oil field development decision in Tunisia Seismic data analysis for Diodore block, Tunisia Exploration…
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