For personal use only 26 August 2015 FY2015 Full-Year Results Presentation Jim McKerlie Chairman Walter Simpson Acting Chief Executive Officer Ian Bucknell Chief Financial Officer
Non-IFRS Accounting Financial Information Non-IFRS accounting financial information For personal use only This presentation refers to Underlying NPAT (underlying net profit after tax), EBITDAX (earnings before interest, tax.…
Agenda For personal use only Chairmans Opening Remarks Jim McKerlie FY2015 Operating Highlights Walter Simpson FY2015 Financial Results Ian Bucknell FY2016 Outlook and Strategy Update Walter Simpson Questions 4 DRILLSEARCH…
For personal use only Middleton facility Chairmans Opening Remarks 5 DRILLSEARCH FY2015 FULL-YEAR RESULTS PRESENTATION
Chairmans Comments For personal use only A real response to market conditions Maintenance of underlying profit Strong balance sheet Prior years investment delivering exploration success Exploration success generating…
Chairmans Comments For personal use only Capital management strategy Commitment to technical excellence Innovation and technical leadership contributing to JVs Proven business model Strong Board and senior management 7…
For personal use only Bauer facility FY2015 Operating Highlights 8 DRILLSEARCH FY2015 FULL-YEAR RESULTS PRESENTATION
FY2015 Strong Performance in a Difficult Climate For personal use only Record work program delivered Production of 3.0 mmboe Oil reserves increased post production Decisive measures taken in response to lower oil price Strong…
FY2015 Investment Delivering Future Production Wells For personal use only 41 74% Success* 12 New discoveries (seven from eight wells with Santos) 10 New Bauer development wells 50% Increase in fluids capacity at Bauer after…
Solid Production Performance Maintained in FY2015 For personal use only Production Production of 3.0 mmboe in line Oil Wet Gas with guidance, 11% lower than 3.4 FY2014 3.0 0.5 0.3 Oil Business the key driver Average Western…
Reserves Platform Five-Year 2P RRR of 305% For personal use only 2015 Reserves and Resources Statement 2P Reserve Breakdown (mmboe) Oil reserves increase at 30 June Oil Wet Gas 2015 Western Flank Oil Reserves up to 8.6 30 mmboe…
For personal use only Bauer facility FY2015 Financial Results 13 DRILLSEARCH FY2015 FULL-YEAR RESULTS PRESENTATION
FY2015 Financial Highlights Lower realised oil price in line with global commodity For personal use only markets - Hedging program delivers additional income Revenue reflects lower prices and production Reported NPAT a loss of…
FY2015 Financial Performance For personal use only % Unit FY2015 FY2014 Change Production mmboe 3.0 3.4 -11% Revenue m 250.6 387.0 -35% EBITDAX** m 152.8 232.0 -34% DD&A m (56.2) (40.4) 39% Exploration & evaluation…
Revenue Oil impact on Revenue partially offset by hedging 400 For personal use only (35.9) FY2015 Adjusted Revenue* - 271.2m 350 Impacted by lower production and decline in crude oil prices, offset by hedging and 300 (112.1)…
Margins Strong margins still attractive despite price pressures For personal use only Oil Margins (A/bbl) Oil Margin 120 Cash margin of 56 a barrel*, 61% lower 90 Accounting Margin: 79 Accounting than in FY2014 Margin: 36 60 8…
FY2015 Net Loss Reconciliation For personal use only 275 250 225 200 (106.6) 175 8.8 (6.9) 150 125 250.6 (57.6) 100 75 152.8 (51.9) 50 25 (56.2) (8.1) 0 11.7 -25 -50 ** Revenues Operating FV EBITDAX Net…
FY2015 Underlying Net Profit* Reconciliation 80 For personal use only 70 12.0 (9.8) 60 50 8.7 3.1 40 30 57.8 58.5 51.9 20 10 0 (8.1) -10 -20 Net Loss After Impairment Derivatives Con Note Derecognition…
FY2015 Cash Flow, Cash Balance and Liquidity For personal use only 300 (6.5) 11.7 (22.8) 250 116.8 (74.0) 200 Total Liquidity 171.5m 50.0 150 (47.5) 40.0 (2.3) 3.7 251.6 100 152.4 Operating 131.5 Investing…
For personal use only Western Flank Drilling Activity FY2016 Outlook and Strategy Update 21 DRILLSEARCH FY2015 FULL-YEAR RESULTS PRESENTATION
FY2016 Production Guidance1 For personal use only Guidance FY2015 (a) FY2016 (f) Production (mmboe) 3.0 2.8 3.22 Investment in FY2015 delivers oil production in FY2016 FY2016 Production Split Oil Wet Gas Facilities and wellhead…
FY2016 Production Guidance New Fields Coming Online New Field Start Ups 1st Half FY2016 2nd Half FY2016 For personal use only Western Flank Oil Existing Production from Bauer, Chiton, Hanson, CKS Fairway (Beach Joint Stunsail…
FY2016 Capex Guidance1 Our Priorities: For personal use only Production Cash flow Reserves Replacement Guidance FY2015 (a) FY2016 (f) Capex (m) 142m 80m 110m2 FY2016 Capital Expenditure Split 22 wells planned; with up to 15…
Exploration and Appraisal Investing in Growth FY2016* Total Area Activity Operator Wells** For personal use only Q1 Q2 Q3 Q4 Oil Business Western Flank Oil PRLs 151-172 Wells Beach 4 A/D 2 A/D, 1 Exp Bauer Facilities…
Cooper Basin Growth Sustainable Repeatable Business Inland-Cook Growth upside from existing only Western Flank Oil assets Exploration Technical Immaturity Northern Wet Gas use Western Wet Gas Exploration Key Eastern…
Our Proven Approach to Adding Value Across the Chain For personal use only Evaluate Cooper Our Strengths Proven technical skills a history of success Explore Technically Driven Maintaining an independent technical view Applying…
Key Takeaways Decisive response to changing market For personal use only Underlying profit maintained Strong balance sheet Refinancing discussions underway Continued investment in diversified production growth High quality…
For personal use only Middleton facility Questions 29 DRILLSEARCH FY2015 FULL-YEAR RESULTS PRESENTATION
For personal use only Appendix
Corporate Information Financial Drillsearch Shareholder Type as at 27/07/15 For personal use only ASX Ticker DLS S&P/ASX Index ASX 200 Market Cap (Am) 279 Shares on Issue (m) 461 Share Price (25 Aug 2015) (A/sh) 0.605 Cash (30…
Reserves and Resources 30 June 2015 As a result of the arithmetic aggregation of the field totals, the aggregate 1P estimate may be conservative and the aggregate For personal use only 3P estimate optimistic, as the arithmetic method…
FY2016 Catalysts New production satellites and wells come online on the For personal use only Western Flank Oil Fairway Progressive connection of Wet Gas discoveries Active exploration program: Maroochydore-1 well in ATP 924…
FY2015 Improved Safety at a Time of Record Activity Drillsearch Financial Year TRIFR Trend For personal use only Work Hours Recordable Incidents HIPO Incidents HIPOFR Rolling 12 mth TRIFR 90,000 15 80,000 70,000 60,000…
Active Hedging Program Continues to Provide Protection For personal use only FY2016 Hedge Position Gross hedge benefit of 20.6m realised in FY2015 1.43 million barrels of FY2016 production currently hedged at prices of at least…
FY2015 Change in Accounting Policy Impact of prior year results on adoption of Successful Efforts For personal use only Drillsearch adopted the Successful Efforts methodology for the year ended 30 June 2015, the prior year balance…
FY2015 Impairments and E&E Write-off For personal use only Oil & Gas Assets Oil & Gas Assets Total non-cash impairments and 250 250 write-offs of 109.5m (pre-tax) (24.5) 200 200 (13.9) (13.9) 52.5 52.5 (24.5) Oil & Gas…
Reconciliation of Non-IFRS Accounting Financial Information FY2014 FY2015 For personal use only Reconciliation of Underlying NPAT to Net (Loss)/Profit After Tax Restated 000 000 Net profit after tax (8.1) 41.9 Adjusted for:…
For personal use only HEAD OFFICE LEVEL 18 321 KENT STREET SYDNEY NSW 2000 PH: +61 2 9249 9600 FX: + 61 2 9249 9630 E: ADMINDRILLSEARCH.COM.AU W: WWW.DRILLSEARCH.COM.AU Please contact for further information DUDLEY WHITE GM…
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