HORIZON OIL LIMITED ABN 51009799455 Good Oil Conference 3 September 2015 Brent Emmett CEO This presentation contains some references to forward looking assumptions, representations, estimates and outcomes. These are uncertain by…
Presentation outline Company overview Asset locations Company snapshot Reserves and production forecast China Papua New Guinea New Zealand Horizon Oil as an investment proposition Global oil supply/demand outlook Response…
Asset portfolio Clear geographic focus on Asia-Pacific region Technical focus on proven, conventional plays with scale, upside and manageable risk * Working with experienced partners such as CNOOC, OMV, Mitsubishi and…
Horizon Oil (HZN:AU) at a glance Sydney-based public company listed on Australian Securities Exchange and in ASX 300 Index Portfolio of exploration, development and producing assets in Asia-Pacific region Shareholding: IMC…
Shareholder distribution and trading statistics Aug 2015 (to date) Last 0.080 High 0.094 Low 0.065 Volume 39,879,463 12 Months Last 0.080 High 0.340 Low 0.060 Volume 799.78m Fully paid shares 1,302m 1 Partly paid shares…
Net Reserves1, Contingent Resources1 and Prospective Resources1 as at 30 June 2015 RESERVES CONTINGENT RESOURCES PROSPECTIVE RESOURCES Proven + Probable Proven + Probable Best Estimate Total: 13.7 mmboe Total: 87.1 mmboe Total:…
Forecast net production from Reserves + Contingent Resources as at 1 July 2015 Assumptions Development of WZ 12-8E field with production commencing 2017 Development of 12-10-1 and -2 fields in Beibu Gulf in 2018 Stanley…
Beibu Gulf field production and future development areas China WZ 6-12N and WZ 12-8W fields producing above forecast Potential for higher oil recovery from WZ 12-8W Phase II WZ 12-8E development plan to be submitted for…
Beibu Gulf fields phased development scheme Phased approach to development of new reserves utilising existing infrastructure 3 September 2015 9
Horizon Oils share of Block 22/12 gross revenue calculated on 2P Reserves HZN DECK: 2015: US60/bbl 2016: US65/bbl 2017: US75/bbl 2018+: US80/bbl The above graph demonstrates Horizon Oils increased share of cost recovery in the…
Papua New Guinea PNG is rich in oil, gas and minerals with track record of successful large-scale development projects Stable fiscal regime and succession of pro- development governments Jurisdiction well-supported by…
Horizon Oil acreage and joint venture partners - Papua New Guinea Successful Tingu-1 exploration/appraisal well drilled in 2013 extended PRL 21 gas/condensate resources materially Development application for Elevala/Tingu/Ketu…
Stanley and Elevala/Ketu field development schemes Stanley field Petroleum Development Licence awarded in May 2014 Development drilling subsequently completed, both wells Stanley-3 and -5 met or exceeded expectations…
PNG gas commercialisation options Sales to regional buyers for power generation Ok Tedi Mining Limited (OTML) and Frieda River project (when sanctioned) Local towns and communities in Kiunga Ok Menga Frieda River corridor Export…
Maari /Manaia fields New Zealand Maari field facilities and FPSO Raroa repaired and upgraded in H2 2013 Maari Growth Projects Program successfully completed and Ensco 107 jack-up rig released in July 2015 Field production…
Presentation outline Company overview Asset locations Company snapshot Reserves and production forecast China Papua New Guinea New Zealand Horizon Oil as an investment proposition how to play the recovery in oil price…
WoodMackenzie macro oil short-term outlook (Aug 2015) (1) 3 September 2015 17
WoodMackenzie macro oil short-term outlook (Aug 2015) (2) 3 September 2015 18
Barclays global oil supply/demand outlook (Sep 2015) 3 September 2015 19
Response to current low oil price environment Brent oil price Operating income substantively maintained by oil price hedging 2014 mid 2016 Opex reduced (down 20% YTD in Block 22/12) Capex for 2015-2016 materially reduced and…
Strong risk management with a well established hedging policy Oil price hedge profile 842,500 mmboe hedged from 1 Jan 2015 through mid 2016 at average of US95/bbl Oil price hedging program means cash flows in 2015 and 2016 not as…
Highlights for financial year ending June 2015 70%
Key performance measures last five financial years Completion of Maari Growth Project in July 2015 expected to increase The outlook for 2016 in the current oil price environment remains production in 2016 positive due to the benefit…
Balanced portfolio focus on resource development Large audited reserves and contingent resources 11% developed / 89% undeveloped 34% oil / 66% gas 11 mmboe 24 mmboe 67 mmboe 2P + 2C reserves and contingent resources…
Strategic priorities Focus on growing Horizon Oil to be an E&P leader in Asia-Pacific upstream space Optimise oil and gas production from our existing producing fields Develop discovered resources within our existing asset…
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