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Pareto EP Independents Conference – Interoil Exploration & Production Asa

Interoil Exploration & Production Asa · Jan 19, 2011 · 25 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. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 1
    Company presentation Tom Wolden Managing Director Pareto E&P Independents Conference 19 January, 2011 1
  2. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 2
    TABLE OF CONTENT 1. Recent corporate developments 2. Company highlights 3. Financials 4. Overview of business activities 5. Outlook 3
  3. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 3
    RECENT CORPORATE DEVELOPMENTS Refinancing successfully completed September 2010: Private placement of equity of USD 51m Local financing from Citi Peru and Citi Colombia totaling USD 90m Bond offering of USD 50m Funds used to repay…
  4. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 4
    TABLE OF CONTENT 1. Recent corporate developments 2. Company highlights 3. Financials 4. Overview of business activities 5. Outlook 5
  5. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 5
    INTEROIL IN BRIEF Norway, Oslo HIGHLIGHTS Headquarter Successful production history in Switzerland, Zrich Latin America Technical Department Drilled more than 70 wells in Colombia, Piedras, Altair Ghana, Ebony Discovery Area Peru…
  6. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 6
    PRODUCTION AND INVESTMENT HISTORY Production increased from 2400 bopd in 2005 to peak level of 8400 bpd in 1Q09 Driven by use of 3D seismic, advanced interpretation and drilling technology Extensive investment program with gross…
  7. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 7
    PRODUCTION AND INVESTMENT OUTLOOK Entering renewed growth phase following restructuring with pure Latin America focus Angola business discontinued Ghana only remaining value Production year-end 2010 of 7000 bopd and 8000 bopd…
  8. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 8
    TABLE OF CONTENT 1. Recent corporate developments 2. Company highlights 3. Financials 4. Overview of business activities 5. Outlook 9
  9. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 9
    FINANCIAL DATA Figures in MMUSD Q3 2010 Q2 2010 Q1 2010 Y 2009 Operating revenue 25.3 23.8 24.5 100.4 Production before royalties in boe 529584 511971 594155 2648638 Production net royalties in boe 351512 338250 385967 1742875…
  10. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 10
    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 Repaid two unsecured bonds of total USD…
  11. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 11
    DEBT AMORTIZATION Million Debt amortization overview 160 New senior secured bond 140 Citi Colombia 120 Citi Peru 100 Unsecured bonds Senior secured bond 80 60 40 20 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
  12. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 12
    TABLE OF CONTENT 1. Recent corporate developments 2. Company highlights 3. Financials 4. Overview of business activities 5. Outlook 13
  13. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 13
    PERU FACTSHEET December prod. WI 4655 b/d Reserves P2 8.7 Mmboe1) Investments 2011 USD 20m Drilling 2011 10 Wells Cost per well USD 1.3 -1.8m Corporate Tax 30% Royalty2) 48% Working Interest 100% Licenses Block III and IV San…
  14. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 14
    PERU HIGHLIGHTS Discovery of the San Luis structure in Block III in Q3 2010 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…
  15. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 15
    BLOCK III: DRILLING 2010 Exploration well 13103D Found undepleted high pressures Production 800 b/d San Luis San Luis Field New fault block Mirador Five wells produce today 2000 b/d Well six under testing Potential for more…
  16. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 16
    BLOCK III: 2011 DRILLING PLAN 10 wells on San Luis Drilling planned to start May/June 2011 17
  17. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 17
    SAN LUIS: SALINA MOGOLLON CROSS-SECTION 18
  18. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 18
    LICENSE EXTENSION PERU 10 year license extension expected, however uncertain of timing Current licenses expires mid 2013 Application for extension sent to Perupetro InterOil has a first class track record in Peru, having invested…
  19. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 19
    COLOMBIA FACTSHEET December prod. WI 2014 b/d Reserves P2 6.3 Mmboe Investments 2011 USD 10m Drilling 2011 5 Wells Cost per well1 USD 1.2-1.8 / 1.5-3.0m Corporate Tax 33% Royalty2 8 - 20% Working Interest 50-90% Licenses 3 Surface 420…
  20. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 20
    COLOMBIA HIGHLIGHTS 6 appraisal/development wells drilled on Mana and Rio Opia during the second half of 2010 All wells encountered oil and are set in production Average production per well of approximately 100 bopd is lower than…
  21. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 21
    COLOMBIA: 2011 DRILLING PLAN 4 wells in Mana South Drilling planned to start May/June 2011 22
  22. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 22
    ALTAIR DEVELOPMENT PLAN 2011 Drilling of Altair-2 planned February 2011 23
  23. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 23
    TABLE OF CONTENT 1. Recent corporate developments 2. Company highlights 3. Financials 4. Overview of business activities 5. Outlook 24
  24. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 24
    OPERATIONAL OUTLOOK & SUMMARY Year-end 2011 production target: 8200 8700 bopd Average production guidance 2011: 7500 8000 bopd Current drilling plan 2011: Colombia: 4 production / appraisal wells in Mana and one production well…
  25. Pareto EP Independents Conference – Interoil Exploration & Production Asa – slide 25
    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 26

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