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EQUITY INVESTORS PRESENTATION – Dana Gas

Dana Gas · Nov 25, 2014 · 28 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. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 1
    Clean Energy For the MENA Regions Tomorrow Dana Gas Investor Presentation November 2014 www.danagas.com 1
  2. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 2
    Presentation Outline MENA Opportunities Dana Gas Introduction and Profile Country Operations Relative Valuations Summary www.danagas.com 3
  3. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 3
    MENA region holds ca. 50% of global oil & gas reserves but with limited access. Dana Gas has presence in the large markets with open access Oil & Gas Proved Reserves 400 (Source: BP Statistical Review 2014) 1688 6558 Gas 350 MENA…
  4. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 4
    MENA oil & gas production has grown steadily since mid-80s. From 1990, gas production has grown 4x while oil production has grown 1.5x MENA Oil & Gas Production (Source: EIA) www.danagas.com 5
  5. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 5
    Natural gas has become the dominant energy source for primary energy demand in the MENA region MENA GDP vs Population Primary Energy Demand Growth (Source: IMF) (Source: EIA) MENA Gas Consumption Pattern (Source: BP Statistics)…
  6. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 6
    Dana Gas Introduction and Profile www.danagas.com 7
  7. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 7
    Given strong gas demand fundamentals and resource potential, Dana Gas is uniquely positioned to grow across the region Reserve & Resources Dana Gas is operating at the heart of the worlds largest hydrocarbon bearing region…
  8. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 8
    Dana Gas: Independent E&P company listed on the ADX Dana Gas is operating at the heart of the Dana Gas is a MENASA focused gas Worlds Largest Hydrocarbon region independent headquartered in the UAE Dana Gas is quoted in the Abu…
  9. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 9
    Consistent growth, delivery and financial performance since 2007 Production Revenue CAGR :14% CAGR: 10% EBITDAX Profit After Tax CAGR : 14% CAGR : 24% www.danagas.com 10
  10. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 10
    Dana Gas: Country Business Highlights www.danagas.com 11
  11. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 11
    Despite a challenging business environment; Egypt gas fundamentals are robust Egypt GDP (US bln) Egypt Primary Energy Demand (mln toe pa) Gas consumption in Egypt to exceed Onshore Nile Delta steady and production for first time…
  12. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 12
    Egypt: Nile Delta Operations Development Leases: El Wastani Onshore acreage consisting of 13 Development Leases in the prolific Nile Delta region One additional DL (Begonia) is under discussion with the government Production:…
  13. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 13
    Gas Production Enhancement Agreement helps Egypt increase production while delivering long term value to Dana Gas GPEA initiative allows Dana Gas to optimise core Nile Delta asset Investment highlights: Drilling includes over 20 new…
  14. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 14
    Block 6 North El Arish Offshore Opportunity G&G studies prior to commencing seismic acquisition in Q4-14 / Q2-15 Environmental Impact Assessment ahead of seismic operations Seismic reprocessing of vintage 2D seismic data…
  15. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 15
    Newly awarded exploration blocks in Nile Delta enables Dana Gas to build on its core area production and utilising existing infrastructure Blocks 1 & 3 located adjacent to Dana Gas Awarded the North El Salhiya (Block 1) prolific Nile…
  16. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 16
    Operations in Kurdistan Region of Iraq DG share of production (40%) averaged 27,705 boepd during 3Q 2014: 120 MMscfd (40%) of natural gas 5,202 bbl/d (40%) and 206 tons/d (40%) of condensate and LPG, respectively Production of…
  17. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 17
    Rich gas and condensate producer with strong growth track record Khor Mor Field Production, Dana Gas net share (40%) 3 www.danagas.com 3. Current Condensate Gas Ratio (CGR) on Khor Mor is ca. 45 bbl/mmscf comparable to Qatar…
  18. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 18
    Dana Gas Kurdistan Assets Substantial Resources Upside* Pearl Petroleum appointed Gaffney, Cline & Associates Limited (GCA), to provide an estimate of hydrocarbons in-place as at 31st December, 2012 for both the Khor Mor and…
  19. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 19
    Khor Mor and Chemchemal are potentially largest gas fields in the KRI and comparable to large scale gas developments in the region Large Gas Developments in MENA (Source: Company disclosure) 60 Gas in Place * (in TCF) 30…
  20. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 20
    UAE: Zora Project Update Overall project progress is in line with plans for first gas in 1H 2015 with a capacity of 40 mmscfd (6,650 boepd ) All major facilities contracts now awarded Offshore platform fabrication progress…
  21. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 21
    Dana Gas: Relative Valuations www.danagas.com 22
  22. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 22
    EV and Production valuation relative to peers Enterprise Value vs. Production EV (bn) 2014 H1 Production (kboepd) 10 90 9 80 8 70 WI Production (kboepd) Enterprise Value ( bn) 7 60 6 50 5 40 4 30 3 20 2 1…
  23. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 23
    Significantly undervalued relative to peers EV/EBITDA P/E 7 35 6 6.7 6.5 30 31.6 EV/EBITDA 2015e (x) Mean* 4.7 P/EPS 2015e (x) 5 25 5.2 5.0 4 20 3.8 19.2 3 3.3 15 Mean * 13.7 2.8 2 10 12.4 12.0 1 5 7.6 6.7 6.5 0…
  24. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 24
    Relative share price performance of Dana Gas 120% DG share price performance affected by increased liquidity and selling pressure following the Sukuk conversions 100% Received Abu Dhabi Index +88% US53mln from Egypt Relative…
  25. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 25
    Dana Gas has mostly outperformed international and middle eastern peers since Jan 2013 International Peers ME Peers 140% 150% Dana Gas +38% DNO International +59% 120% Dana Gas +38% Premier Oil -34% Petroceltic +32% Lundin…
  26. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 26
    Summary www.danagas.com 27
  27. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 27
    Summary Significant investment and drilling programme in Egypt starting Q1 2015, which will be fully funded from project finance and retained earnings, will result in free cash flow by 2017 and result in a reduction of receivables…
  28. EQUITY INVESTORS PRESENTATION – Dana Gas – slide 28
    Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : rsinghdanagas.com Direct : +971 6 519 4401 Fax : +971 6 556 6522 www.danagas.com 29

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