HORIZON OIL LIMITED ABN 51009799455 Investor presentation July 2015 This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by the nature of the…
2014/15 June quarter results summary June quarter Annual Production 0.37 million bbls 1.31 million bbls Sales 0.32 million bbls 1.21 million bbls Average realised price/bbl US78.00 US85.59 Revenue US25.1 million US104.0 million…
Highlights for financial year ending June 2015 70%
Horizon Oil (HZN:AU) at a glance Sydney-based public company listed on Australian Securities Exchange and in ASX 300 Index Portfolio of exploration, development and producing assets in Asia-Pacific region Shareholding: IMC…
Shareholder distribution and trading statistics July 2015 (to date) Last 0.098 High 0.105 Low 0.083 Volume 32,374,577 12 Months Last 0.098 High 0.380 Low 0.080 Volume 814.28m Fully paid shares 1,302m 1 Partly paid shares…
Key performance measures last five calendar years Completion of Maari Growth Projects expected to increase production in 2015. Revenue will maintain in 2015 even with lower oil prices, because of Production from Beibu Gulf will be…
Asset portfolio Clear geographic focus on Asia-Pacific region Technical focus on proven, conventional plays with scale, upside and manageable risk * Working with experienced partners such as CNOOC, OMV, Mitsubishi and…
Horizon Oil assets fiscal regimes 25% 100% Government Government Take (oil) Take (oil) Very Favourable Favourable Average Tough Very Tough Spain Croatia Denmark Nigeria Qatar Ireland Philippines Cote dIvoire Suriname…
Net reserves1, Contingent Resources1 and Prospective Resources1 as at 31 December 2014 RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate Total: 14.2 mmboe Total: 20.5 mmboe…
Balanced portfolio focus on resource development Large audited reserves and contingent resources base 11% developed / 89% undeveloped 34% oil / 66% gas 11 mmboe 24 mmboe 67 mmboe 2P + 2C reserves and contingent…
Forecast net production from Reserves + Contingent Resources as at 31 December 2014 18,000 16,000 Expect to be able to maintain oil production of 4,000 6,000 bpd 14,000 ahead of future large scale gas Barrels of oil equivalent…
Beibu Gulf field production and future development areas China WZ 6-12N and WZ 12-8W fields producing above forecast Potential for higher oil recovery from WZ 12-8W Phase II WZ 12-8E development plan to be submitted for…
Beibu Gulf fields phased development scheme Phased approach to development of new reserves utilising existing infrastructure 21 July 2015 13
Papua New Guinea PNG is rich in oil, gas and minerals with track record of successful large-scale development projects Stable fiscal regime and succession of pro- development governments Jurisdiction well-supported by…
Horizon Oil acreage and joint venture partners - Papua New Guinea Successful Tingu-1 exploration/appraisal well drilled in 2013 extended PRL 21 gas / condensate resources materially Development application for Elevala/Tingu/Ketu…
Stanley and Elevala/Ketu field development schemes Stanley field Petroleum Development Licence awarded in May 2014 Development drilling subsequently completed, both wells Stanley-3 and -5 met or exceeded expectations…
PNG gas commercialisation options Sales to regional buyers for power generation Ok Tedi Mining Limited (OTML) and Frieda River project (when sanctioned) Local towns and communities in Kiunga Ok Menga Frieda River corridor Export…
Maari /Manaia fields New Zealand Maari field facilities and FPSO Raroa repaired and upgraded in H2 2013 Maari Growth Projects Program successfully completed and Ensco 107 jack-up rig released in July 2015 Field production…
Response to current low oil price environment Brent oil price Operating income substantively maintained by oil price hedging 2014 mid 2016 and reduced opex Capex for 2015 materially reduced and discretionary expenditure minimised…
Strong risk management with a well established hedging policy Oil price hedge profile 842,500 mmboe hedged from 1 Jan 2015 through mid 2016 at average of US95/bbl Oil price hedging program means cash flows in 2015 and 2016 not…
Forecast net operating income 2015-2017 Calendar Year 2013 Actual1 2014 Actual1 2015E 2016E 2017E Assumed oil price US60/bbl US65/bbl US75/bbl Operating income after opex (including the Special Oil Gain 62 91 82 90 80 Levy payable…
Balanced portfolio focus on resource development Large audited reserves and contingent resources base 11% developed / 89% undeveloped 34% oil / 66% gas 11 mmboe 24 mmboe 67 mmboe 2P + 2C reserves and contingent…
Strategic priorities Focus on growing Horizon Oil to be an E&P leader in Asia-Pacific upstream space Optimise oil and gas production from our existing producing fields Develop discovered resources within our existing asset…
HZN share price (1): ASX-listed comparables one year relative share price ______ Drill Search _____ Senex _____ AWE _____ Beach 21 July 2015 24
HZN (2): ASX-listed trading comparables RBC Capital Markets 21 July 2015 25
HZN (3): ASX-listed trading comparables RBC Capital Markets 21 July 2015 26
HZN (4): Oil Search Limited anticipating first LNG 21 July 2015 27
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