Table of contents 1. 2Q 2013 highlights 2. Financial review 3. Colombia update 4. Peru update 5. Outlook 2
Second quarter 2013 highlights Drilling program in Colombia initiated and on track, with 6 wells reported to date. Significant production increase realized in July, however, no effect in Q2 Norway, Oslo Headquarter Successful…
High potential portfolio in South America Operated portfolio of two licenses in Colombia Puli-C is the main producing block LLA-47 exploration block in the Llanos Basin targeting farm down to reduce commitments Operated…
On track to deliver on new strategy 1. Reduce operating expenses Minimize corporate overhead Terminate related party consultancy agreements Optimize group operating structure 2. Restructure the balance sheet New capital…
Table of contents 1. 2Q 2013 highlights 2. Financial review 3. Colombia update 4. Peru update 5. Outlook 6
2Q13 A quarter of transition Figures in USD millions 2Q 2013 1Q 2013 2Q 2012 2012 Revenues down 12% on Q1, on the Realized oil price 95 107 105 107 back of lower oil price and production Production (boed after royalty) 2 499 2 678…
P&L summary An 11% fall in oil price and 7% production decline caused revenues to fall 12% in Q2 P&L 2Q 2013 1Q 2013 2Q 2012 Amounts in USDm, except where stated otherwise Increase in COGS due to the expensing of previously WI…
Cash flow and balance sheet summary Negative operating cash flows in Q2 and year Cash flow statement 2Q 2013 1Q 2013 2Q 2012 to date, following declining production and Amounts in USDm, except where stated otherwise EBITDA 7,2 16,2…
Description of interest bearing indebtedness NOK 310m corporate bond loan (USD 49m) Issuer: Interoil Exploration & Production ASA 15% interest, maturity: March 2016 Share pledge in South American operating subsidiaries USD 6m…
Table of contents 1. 2Q 2013 highlights 2. Financial review 3. Colombia update 4. Peru update 5. Outlook 11
Puli-C: Set for production growth Phase 0 of the 68 well drilling program initiated in May Phase 0 consists of 12 low wells, main objective Working Interest Production, boe/day was to generate increased cash flow at low risk 2 000…
2013 drilling program A total of 12 wells to be drilled in 2013: 6 deep Monserrate wells drilled to date Another 1 deep Monserrate wells in Mana and Mana South (capex of USD 1.8 million gross per well) 5 shallow Doima wells in…
Strong operating netbacks and cash flow Operating netback per barrel 2) EBITDA and capex for Colombia (incl. Altair) 120 50 45 100 12 10 8 40 28 22 35 USD per bbl 80 22 7 USD million 9 18 30 60 15 25 7 12 20 40 69…
Status of exploration blocks Interoil sold the Altair and Cor-6 exploration blocks in Colombia in 1Q 2013 Subject to ANH approval, expected to be completed in September 2013 Interoil will continue investments in LLA-47 in…
Table of contents 1. 2Q 2013 highlights 2. Financial review 3. Colombia update 4. Peru update 5. Outlook 16
Interoil in Peru: Highlights Interoil has been active in Peru since 2005 Strong track record of production growth and cash flow generation Currently in arbitration proceedings with PeruPetro, to determine whether Interoil has…
Peru Production history Stable production in recent quarters despite very limited investments Working Interest Production, bbl/day 2Q 2013 production of 2,545 bbl/day (before royalty), down 8% QoQ 5% increase in July, on the…
Lower netback on seasonal variations and lower oil price Operating netback per barrel 1) EBITDA and capex for Peru 120 60 100 50 80 53 54 54 40 USD per bbl 50 USD million 60 38 30 26 15 13 12 49 17 44 40 20 9 37…
License extension Interoil management has meetings with the Minister of Energy and Mines, Ministry of Economics and Finance, Perupetro and Petroperu on a regular basis Dialog is constructive Perupetro is considering two…
Benefits to Peru for extending the licenses Interoil Peru has strong operational competence and in-depth knowledge about Blocks III and IV Interoil has developed an FDP targeting the production of 18 mbbl of 2P reserves that will…
Table of contents 1. 2Q 2013 highlights 2. Financial review 3. Colombia update 4. Peru update 5. Outlook 22
Outlook Another 6 development wells to be drilled in Colombia during 2013 All wells so far have been commercial, were completed below budget and have fulfilled their objective of contributing to the strengthening of cash flows…
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