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Q3 2008 Earnings Call – Interoil Exploration & Production Asa

Interoil Exploration & Production Asa · Aug 8, 2008 · 32 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 2008 Earnings Call – Interoil Exploration & Production Asa – slide 1
    Nils N. Trulsvik Third quarter 2008 presentation Chief Executive Officer Wilhelm Matheson Most successful quarter in InterOils three year history Chief Financial Officer
  2. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 2
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2008 Peru Colombia Angola Ghana 5. 2008 Outlook 6. Q&As 3
  3. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 3
    Q3 HIGHLIGHTS Operational Highlights: Active drilling in Peru and Colombia Four successful wells completed in Peru in Q3 Five successful wells completed in Colombia in Q3 All time high production of 508845 bbl in Q3 Total…
  4. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 4
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2008 Peru Colombia Angola Ghana 5. 2008 Outlook 6. Q&As 5
  5. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 5
    INTEROIL IN BRIEF InterOil Exploration & Production ASA is a Norwegian based exploration and production company founded in 2005 - listed on the Oslo Stock Exchange - with focus on Latin-America and West-Africa. The company is operator…
  6. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 6
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2008 Peru Colombia Angola Ghana 5. 2007 Outlook 6. Q&As 7
  7. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 7
    Q3 FINANCIAL RESULTS UNAUDITED Figures in USD millions Q3 2008 Q3 2007 YTD 2008 YTD 2007 12 month 2007 Operating Revenues 31.2 19.2 87.6 46.4 69.5 Production, before royalties (bbls) 508845 410121 1343628 1089659 1525176…
  8. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 8
    COMPARISON 2008 2007 2006 All figures in million USD Q3 08 Q2 08 Q1 08 Q4 07 Q3 07 Q2 07 Q1 07 Q4 06 Q3 06 Q2 06 Q1 06 Operating revenues 31.2 29.6 26.8 23 19.2 15.4 11.9 10.7 11.5 10.7 8.4 Production WI 508845 405023 429963 435517…
  9. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 9
    EBITDA OVERVIEW 2008 2007 2006 All figures in million USD Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 EBITDA 32 4.2 9.8 7.5 (10.0) 0.4 2.0 4.8 5.6 7.2 5.6 Hedging Cost/(Profit) (12.9) 10.5 1.2 5.4 1.4 0.7 2.8 (0.6) - - - EBITDA excl.…
  10. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 10
    CASH FLOW Cash flow Q3 2008 (USD million) 40 23,8 (15,3) 35 30 25 21,1 20 15 12,6 10 5 0 Cash 30.06.08 Operations incl. finance cost Investments Cash 30.09.08 Increased cash position in Q3 Cash position…
  11. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 11
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2008 Colombia Peru Angola Ghana 5. 2008 Outlook 6. Q&As 12
  12. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 12
    OPERATIONS UPDATE PERU Peruvian assets 13
  13. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 13
    PERU HIGHLIGHTS In total six wells in the Mirador area in Block III completed, of which four was completed during Q3. All wells are oil producers Total production doubled since May 2008 Six more wells to be completed during Q4…
  14. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 14
    PLAN 2008 FOCUS IN BLOCK III In production 2800 b/d Currently drilling Under evaluation To be drilled 15
  15. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 15
    BLOCK III MIRADOR POTENTIAL DEVELOPMENT PLAN To Battery 202 16
  16. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 16
    OPERATIONS UPDATE COLOMBIA Colombian assets 17
  17. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 17
    COLOMBIA HIGHLIGHTS Four production wells completed on the Mana license, of which three was completed during Q3 Total initial gross production from new Mana wells is more than 1600 bopd One shallow well at the new Doima reservoir…
  18. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 18
    COLOMBIA 3D MAP & 2008 WORK PROGRAM 4 deep Mana wells (all completed) MN-6D 8 shallow Doima wells (2 completed) MN-15D TT-35A-D Fracturing campaign (completed) TT-36A-D 3D-Seismic mapping (final stage) MN-10D MN-18…
  19. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 19
    ALTAIR EXPLORATION LICENSE IN LANOS BASIN Exploration Block Altair Prospective 27 MMb Resources 1st Investment Phase 18 Months starts Nov. 08 3D Seismic 1 well Cost per well 4 MMUSD Corporate Tax 33% Llianos savannah Royalty 8.5%…
  20. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 20
    ANGOLA - FACTS 2008 - OFFSHORE Exploration Block 5 Block 6 Prospective 450 MMb 600 MMb Resources* Contingent 27 MMb 16 MMb Resources* Investments 1st 27 MMUSD 23 MMUSD Phase, 4 Years (Interoils share) Drilling 2009 1 well 2 wells Cost…
  21. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 21
    PRE-SALT PLAY: POTENTIAL IN BLOCKS 5 & 6 ANGOLA Sedimentary basins along the South American and African continental margin Some 200 million years ago, South America started to drift Stratigraphy: away from Africa and sedi- mentary…
  22. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 22
    ANGOLA BLOCK 5 - LEAD & PROSPECT MAP Block 5 Seismic acquisition ongoing Drilling first well 2009
  23. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 23
    Block 18 Lonzo-1 Block 19 PAKUBALU-1 ANGOLA BLOCK 6 - LEAD & PROSPECT MAP MUBAFO-1 Mavunga-1 9,060,000 012 45' 00 E 013 00' 00 E 013 15' 00 E Block 6 MUAMBA-1 Reprocessing Prospects, to PSTM Leads by Company finalized…
  24. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 24
    ANGOLA CABINDA NORTH - ONSHORE Exploration Cabinda North Prospective 300 MMb Resources* Contingent 53 MMb Resources* Acquisition cost 33 MMUSD Drilling 2010 3 Wells Working Interest 21% Surface 2400 km2 Operator Sonangol 20%…
  25. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 25
    OPERATIONAL UPDATE GHANA Exploration Tano Shallow Prospective 50 MMb Resources* Contingent 25 MMb Resources* 100 bcf Investments 2007 15 MMUSD Appraisal Well 2007 Drilling Q4 2008 1 Well Working Interest 31.5% Major oil…
  26. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 26
    GHANA TANO SHALLOW - EBONY LOCATION 27
  27. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 27
    GHANA RECENT DISCOVERIES (TULLOW) According to Tullow the recent discovery Odum in West Cape Three Points apparently is in reservoir sands of the same age as in Ebony prospect. N 28
  28. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 28
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2008 Peru Colombia Angola Ghana 5. 2008 Outlook 6. Q&As 29
  29. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 29
    2008 OUTLOOK Year end production 2008: 10000 bopd Colombia: 3600 bopd Peru: 6400 bopd Drilling program 2008 Colombia: 6 further shallow wells with a production estimate of 100 bopd per well. Perforate the shallow reservoir in 4…
  30. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 30
    EXPECTED NEWSFLOW 2008/2009 Drilling result Drillingstart exploration well in exploration well in Ghana Block 6 Angola 3rd Quarter Reporting 4th Quarter Reporting 1st Quarter Reporting Nov. Dec. Jan. Feb. Mar. Apr. May…
  31. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 31
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2008 Peru Colombia Angola Ghana 5. 2008 Outlook 6. Q&As 32
  32. Q3 2008 Earnings Call – Interoil Exploration & Production Asa – slide 32
    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 33

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