HORIZON OIL LIMITED ABN 51 009 799 455 Annual General Meeting 20 November 2009 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the…
HORIZON OIL LIMITED ABN 51 009 799 455 Annual General Meeting Chairmans Address 20 November 2009 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are…
Share Price Performance
HORIZON OIL LIMITED ABN 51 009 799 455 Annual General Meeting 20 November 2009 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the…
HORIZON OIL LIMITED ABN 51 009 799 455 Annual General Meeting 20 November 2009 Shareholder Presentation This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These…
Investment Strategy Distinct southeast Asian geographic focus Strong, long-lived cashflows from Maari field, offshore New Zealand, to fund future capital program Substantial inventory of discovered reserves and resources to…
Asset Location Focus on SE Asia Productive fairways, mature operating environment strong demand for oil and gas
Horizon Oil Shareholder Distribution Register strengthened over 2009 Ward Ferry (HK) Acorn Capital Challenger Accident Compensation Corp (NZ) Paradice Colonial First State New City (UK) BT Perpetual ING etc.
Horizon Oil Statistics Increased trading volume SHARE PRICE HISTORY TRADING STATISTICS HZN admitted to ASX 300 Index
Reserves and Resources Net recoverable in millions of barrels of oil equivalent total 94 mmboe RESERVES RESOURCES
Net Production Forecast
Maari Development New Zealand Installation complete and production underway Maari / Manaia: HZN 10% OMV 69% (Op) Todd 16% CUE 5%
Maari Status Development drilling program with Ensco 107 jack-up rig began 11 November 2008 and completed ahead of schedule on 26 July 2009. Program entailed batch drilling of 3 oil production wells, followed by 3 water injectors and…
Maari Development Features Production permit through December 2027 with ability to extend Design plateau production rate 35,000 bopd Wellhead platform allows well intervention without need to import a rig Workover rig and coiled…
Maari Upside Potential
Maari Reserves and Resources Zone Gross Oil-in-place Gross recoverable 2P reserves (mmbo) (mmbo) Maari Moki 141 60 to be revised (upwards) Gross 2P resources (mmbo) Maari M2A Sands 40 Waiting on development plan Manaia…
PEP 51313 New Zealand 2,628 sq km block awarded with 5 year term PEP 51313: HZN 30% Todd 50% (Op) CUE 20% deep prospect and lead inventory in proven play-types
Block 22/12 Shared, Phased Development Plan Philosophy is to utilise CNOOC facilities, infrastructure and manpower where possible to achieve capex and opex sharing and accelerated timing to first oil Phase I unmanned wellhead…
Phased Development Concept
Papua New Guinea Uptick in industry activity, with large projects gaining traction major gas aggregation play emerging in Western Corridor /Offshore
Recent PNG Transactionsheavy artillery arriving Date Company Transactions On-going Exxon Development of the Exxon-operated PNG LNG Project On-going InterOil Appraisal / development of Elk / Antelope LNG Project Sep08 Sasol Papua…
PRL 4 and PRL 5 Papua New Guinea Possible recoverable resources of 1 2 tcf gas and 40 70 mmbo condensate condensate stripping phase planning underway
Western Province Play Papua New Guinea Significant resource position, 50% interest with partner Talisman Energy Inc. in:- PRL 4 (Stanley gas / condensate discovery) PRL 5 (Elevala and Ketu gas / condensate discoveries) Fields…
Funding Position Funding requirements Operations Remaining Maari development costs funded by project revenues China Block 22/12 development at 14.7% interest US45 million net PNG Stanley development at 50% interest US65 million net…
Analysts Valuations Firm Date of research Valuation / share Recommendation RBS Morgans 9 November 09 0.48 BUY Euroz 2 November 09 0.49 BUY Wilson HTM 2 November 09 0.52 BUY StockAnalysis 15 October 09 0.40 BUY Bell Potter 5…
HZN Share Price Catalysts for Re- Re-rating FID on Block 22/12 and begin construction Stanley and Elevala drilling and begin construction of condensate stripping project Progress (by Talisman) on Western Corridor gas aggregation…
Coming up in 2010 Maari field, New Zealand Optimise production from Moki zone M2A zone on production Manaia Mangahewa on production PEP 51313, New Zealand Acquire 3D seismic over Matariki Prepare for drilling in 2011 Block…
Please visit the Horizon Oil website www.horizonoil.com.au to see:- see:- Detailed Investor Presentation Latest Quarterly Report Analyst reports on HZN Level 7, 134 William St, Woolloomooloo NSW 2011 Tel: +612 9332 5000 Fax:…
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