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Q1 2009 Investor Presentation – Interoil Exploration & Production Asa

Interoil Exploration & Production Asa · Feb 27, 2009 · 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. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 1
    First Quarter 2009 Presentation Nils N. Trulsvik Chief Executive Officer All time high production in Q1 Wilhelm Matheson Chief Financial Officer
  2. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 2
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2009 Peru Colombia Angola Ghana 5. 2009 Outlook 6. Q&As 3
  3. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 3
    Q1 HIGHLIGHTS Operational Highlights: All time high production of 764940 bbl in Q1 Total average production in Q1 increased by 74 % since Q1 2008 and 8 % since Q4 2008 Reserve replacement ratio of 325 % for 1P and 300 % for 2P…
  4. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 4
    INTEROIL IN BRIEF High-growth international independent exploration KEY FACTS and production oil company - listed on the Oslo Listed on the Oslo Stock Stock Exchange - with a strategic focus on Latin Exchange: IOX America and West…
  5. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 5
    INTEROIL IN BRIEF Peru Colombia Group HIGHLIGHTS Production boe/day 6232 2261 8493 Drilling of more than 50 wells in Reserves Mmboe Peru and 20 in Colombia since 2006 P1 12.4 5.4 17.8 P2 13.2 6.7 19.9 All wells, except four,…
  6. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 6
    RESERVE GROWTH IN 2008 2P reserves of 19.9 million barrels as per 31 December 2008 Colombia 2P reserves increased by 25% since 2007 Peru Reserve replacement ratio of 300% for 2P reserves in 2008 Substantial investments in…
  7. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 7
    Q1 FINANCIAL RESULTS UNAUDITED Figures in USD millions Q1 2009 Q1 2008 Q4 2008 YTD 2008 YTD 2007 Production, before royalties (bbls) 764940 429963 710150 2053778 1525176 Production, net of royalties (bbls) 531925 272466 470155 1318487…
  8. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 8
    REVENUES AND PRODUCTION Average quarterly production has increased by 85% over the last three quarters and 8% since Q4 2008 Revenue decreased by 20% since Q4 2008 Realized average oil price dropped by 19% in Q1 after a drop…
  9. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 9
    CURRENT CASH POSITION Cash position has deteriorated since end of 2008 due to several factors Significant drop in the oil price High investments in Peru and Colombia during 2H08 and into Q1 2009 Significant committed cost…
  10. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 10
    DEBT OVERVIEW Loan Amount Terms Duration Description 5 year senior 115 MUSD** 3 month Libor May 2007-2012 security in shares of secured bond loan* + 4.5% all subsidiaries 3 year senior 100 MNOK 12.5% fixed March 2007-2010 -…
  11. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 11
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2009 Colombia Peru Angola Ghana 5. 2009 Outlook 6. Q&As 12
  12. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 12
    OPERATIONS UPDATE PERU Peruvian assets 13
  13. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 13
    PERU HIGHLIGHTS Final well in the 12 wells drilling campaign in the Mirador area in Block III successfully completed in Q1 Total production from the new 12 wells today 4000 b/d 1P reserves increased by 25% since 2007 40 km of 3D…
  14. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 14
    MIRADOR POTENTIAL DEVELOPMENT PLAN Drilled Wells 4000 bopd 3D Seismic completed Potential new wells to be drilled 40 15
  15. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 15
    South Mirador Scope for Dual Completions 13014 13065 13062 13048 13077D 13059D 13068D 13098D 13058D 13041D 13099D 13096D 13047 Gas risk First understand behavior of unit F Good candidate for dual Good candidate for dual completion,…
  16. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 16
    OPERATIONS UPDATE COLOMBIA Colombian assets 17
  17. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 17
    COLOMBIA HIGHLIGHTS No new wells drilled in Q1 Focus on work-over to maintain production Total production in Colombia tripled since takeover 2P reserves increased by 68% since 2007 South Mana shows upside potential for reserves…
  18. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 18
    COLOMBIA 2009 WORK PROGRAM TWT Basement Shallow wells drilled in 2008 (4) MN-6SH Mana Deep wells drilled in 2008 (4) Future production wells (15) MN-19X Ambrosia MN-10SH Toqui Toqui MN-18 MN-27X Mana MN-28X MN-24X…
  19. Q1 2009 Investor Presentation – 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. Q1 2009 Investor Presentation – 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 1 well 1 well 2009/2010…
  21. Q1 2009 Investor Presentation – 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. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 22
    ANGOLA BLOCK 5 - LEAD & PROSPECT MAP Block 5 Seismic acquisition completed Q4 2008 Evaluation of 3D seismic ongoing Drilling first well 2010 3D (2008) 23
  23. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 23
    Block 18 Lonzo-1 Block 19 ANGOLA BLOCK 6 - LEAD & PROSPECT MAP MUBAFO-1 PAKUBALU-1 Mavunga-1 012 45' 00 E 013 00' 00 E 013 15' 00 E 9,060,000 Block 6 MUAMBA-1 Prospects, Leads by Company Reprocessing to PSTM finalized…
  24. Q1 2009 Investor Presentation – 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. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 25
    GHANA TANO SHALLOW - OFFSHORE Exploration Tano Shallow Prospective 50 Mmboe Resources* Contingent 25 Mmboe Resources* 100 bcf Investments 2009 2 MUSD Drilling Q4 2008 1 Well Working Interest 31.5% Adriatic VI, 300 Foot…
  26. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 26
    TANO SHALLOW EBONY-1 DISCOVERY Ebony-1 is the second commitment well in this licence The Ebony-1 exploration well intersected two hydrocarbon bearing intervals in Late Cretaceous turbidite sands Ebony-1 reached a total depth of…
  27. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 27
    EBONY-1 FUTURE APPRAISAL WORK Isochron of up dip portion of Turonian Fan Log and sample data from the high- pressure gas-condensate sands and regional seismic interpretation shows the sand belong to a Turonian Fan system Ebony-1…
  28. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 28
    AGENDA 1. Highlights 2. InterOil In Brief 3. Financial Data 4. Operational Development & Plans 2009 Peru Colombia Angola Ghana 5. 2009 Outlook 6. Q&As 29
  29. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 29
    SHORT TERM STRATEGY 2009 Main objective is to improve the balance sheet Conserve cash Improve equity Reduce debt Strong focus on reducing costs InterOil plans to maintain todays production level in Peru and Colombia Portfolio…
  30. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 30
    OPERATIONAL OUTLOOK & SUMMARY Production guidance 2009: 9000 boe/day Colombia: 2600 boe/day Peru: 6400 boe/day Current drilling plan 2009 Colombia: 4 production wells in Mana Production estimate of 200 boe/day per well Peru: 4…
  31. Q1 2009 Investor Presentation – Interoil Exploration & Production Asa – slide 31
    UPDATE ON PRODUCTION GUIDANCE AND CAPEX Production New production target of 9000 boe/day in 2009 boe/day Average Daily Production WI, per year from current concessions in Latin America 16000 Production Latin America Reduced from…
  32. Q1 2009 Investor Presentation – 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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