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Q2 2015 Earnings Call – Iona Energy Inc.

Iona Energy Inc. · Aug 26, 2015 · 6 slides

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  1. Q2 2015 Earnings Call – Iona Energy Inc. – slide 1
    Q2 2015 Results Presentation August 26, 2015
  2. Q2 2015 Earnings Call – Iona Energy Inc. – slide 2
    Highlights Unconstrained production resumed in April 2015 Q2 2015 Huntington production averaged 20,609 boepd (gross), 3,091 boepd (net to Ionas 15% working interest(1)) Strong Huntington Q2 2015 opex /bbl of US21/bbl performance…
  3. Q2 2015 Earnings Call – Iona Energy Inc. – slide 3
    Q2 2015 Financial Results (US million, unless otherwise noted) Q1 '15 Q2 '15 Revenues Production (boepd) 1,707 3,303 Average realized price (US/boe) 51.9 52.8 Unconstrained production from Huntington from April 2015 Revenue 8,089…
  4. Q2 2015 Earnings Call – Iona Energy Inc. – slide 4
    Funding Position: H1 2015 Cash Flow 120 100 96 Includes US13.25m payment 80 74 to BP to settle historical derivative liabilities US million 64 60 Capex focused on Orlando 64 40 10 16 0 20 32 15 0 10 0…
  5. Q2 2015 Earnings Call – Iona Energy Inc. – slide 5
    Restructuring Update Comprehensive restructuring plan announced on July 30, 2015 Progress since announcement: Bondholders approved restructuring on August 6, 2015 Sale of non-core ETS interest closed in August 2015 for 1.3m cash…
  6. Q2 2015 Earnings Call – Iona Energy Inc. – slide 6
    Key Risks to Restructuring Key risk Commentary Migitant Oil price Iona business plan based on US60/bbl oil Existing oil price hedge (US80/bbl) provides price some protection through 2015 Plan included headroom to account for May…

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