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Q3 2010 Earnings Call – Interoil Exploration & Production Asa

Interoil Exploration & Production Asa · Aug 6, 2010 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 1
    Third Quarter 2010 Presentation Tom Wolden Managing Director Wilhelm Matheson Chief Financial Officer
  2. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 2
    AGENDA 1. Highlights 2. Financial Data 3. Operational Development & Plans 2010 Colombia Peru 4. 2010 Outlook 5. Q&As 3
  3. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 3
    Q3 HIGHLIGHTS Operational Highlights: Discovery of the San Luis field in Peru Total production in Q3 increased by 3% since Q2 2010 WI production of 529584 bbl in Q3 2 new wells in Peru and 5 new wells in Colombia completed and…
  4. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 4
    INTEROIL IN BRIEF Peru Colombia Group HIGHLIGHTS Production boe/day 3486 2028 5514 Drilling of more than 70 wells in Reserves Mmboe Peru and 40 in Colombia since 2006 P1 8.2 4.9 13.1 P2 8.7 6.3 15.0 95% drilling success rate P3 9.1…
  5. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 5
    Q3 FINANCIAL RESULTS UNAUDITED Figures in USD millions Q3 2010 Q3 2009 YTD 2010 YTD 2009 FY 2009 Production, before royalties (boe) 529584 612110 1635710 2102571 2729691 Production, net of royalties (boe) 351512 395240 1075729 1402471…
  6. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 6
    REVENUES AND PRODUCTION Average quarterly production increased by 3% since last quarter Revenue increased by 6% since Q2 2010 due to higher production and more oil sold Realized average oil price of USD 73.3 per barrel…
  7. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 7
    REFINANCING SUMMARY New Sources Uses USD 90 million from Citi Refinanced the existing senior secured bond of USD 51 million in equity USD 115 million USD 50 million in senior secured bond Repay two unsecured bonds of total USD…
  8. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 8
    CURRENT CASH POSITION Cash position of USD 60.2 million of which: USD 11.1 million is non-restricted USD 49.1 million is restricted Cash position increased due to: Private placement of USD 51 million New bank facility with…
  9. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 9
    SUMMARY OF BALANCE SHEET Balance Sheet 30.09.2010 30.09.2010* In USD thousand Assets Non-current assets 156 179 156 179 Other current assets 17 872 17 635 Cash and cash equivalents 60 178 24 371 Total assets 234 229 198 185 Equity &…
  10. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 10
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2010 Colombia Peru 5. 2010 Outlook 6. Q&As 11
  11. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 11
    OPERATIONS UPDATE COLOMBIA Colombian assets 12
  12. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 12
    COLOMBIA HIGHLIGHTS Drilling campaign on Mana and Rio Opia completed 6 appraisal/development wells drilled on Mana and Rio Opia during the last 4 months All wells encountered oil and are set in production Average production per…
  13. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 13
    ALTAIR POSSIBLE NEW AREAS Altair-3 180 acres Altair-2 Altair-4 14
  14. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 14
    COLOMBIA PENDING NEW BLOCKS IN LLANOS LLA 47 and LLA 53 Approved by ANH November 2010 CAPEX commitment USD 50MM over 3 years Considering farm-out 15
  15. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 15
    OPERATIONS UPDATE PERU Peruvian assets San Luis 16
  16. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 16
    PERU HIGHLIGHTS Discovery of the San Luis structure in Block III in Q3 Good quality reservoir in a new undepleted structure First well on the San Luis structure tested 3000 bopd, but has been choked down to preserve the reservoir…
  17. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 17
    BLOCK III: DRILLING PLAN 2010 Exploration well 13103D Found undepleted high pressures Production 1000 b/d San Luis San Luis Field New fault block Mirador Potential for more than 20 wells P2 reserves 3 MMb Three more wells to…
  18. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 18
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2010 Colombia Peru 5. 2010 Outlook 6. Q&As 19
  19. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 19
    OPERATIONAL OUTLOOK & SUMMARY Year-end 2010 production target: 7700 - 8500 bopd Current drilling plan 2010 Colombia: One appraisal well in Altair year-end 2010 Peru: 3 production / appraisal wells in San Luis area of Block III…
  20. Q3 2010 Earnings Call – Interoil Exploration & Production Asa – slide 20
    INTEROIL E&P ASA STRANDVEIEN 50 N-1366 LYSAKER NORWAY T +47 6751 8650 F +47 6751 8660 Q&A - Thank you for your attention INFOINTEROIL.NO WWW.INTEROIL.NO VISIT US 21

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