SALAMANDER ENERGY Half Year Results 28th August 2014
SALAMANDER ENERGY RESULTS HIGHLIGHTS Operational Progress on Principal Assets 1H production of 11.8 Mboepd 6 weeks downtime due to FPSO Current production over 15.4 Mboepd, FY 2014 guidance 13 15 Mboepd Drilled 10 development wells…
H1 2014 FINANCIAL OVERVIEW MM H1-14 H1-13 Impact of 6 week Production shutdown* 11.8 14.9 Group production 3,100 boe/d lower (Mboepd) -0.5 MMbbl Realisation -2,800 boepd Oil ( per bbl) 105.1 102.1 Brent marginally stronger Gas (…
FY 2014 FINANCIAL OVERVIEW INCOME STATEMENT MM H1 2014 H1 2013 FY 2013 non-recurring items Revenue 177.8 197.0 Calculated impact of 6 week shutdown: Cost of sales Revenue impact: 53MM PBT (cash) impact: 39MM Direct Operating Costs…
H1 2014 FINANCIAL OVERVIEW CASH FLOW EVOLUTION 450 H1-14 tax levied on FY-13 cash flow, but paid from H1-14 cash flow Capex 130MM 30MM of extra debt drawn 28% below H1 2013 as a precaution during 400 7 74% P&D Bualuang outage FY…
THAI OPERATIONAL PROGRESS Add additional slots to Bravo Utilised for four development wells Draft completed during 2Q, final design Charlie Platform Concept Selection dependent on result of dual lateral wells Power and Processing…
SUKSAN SALAMANDER SALAMANDER 2013 8
INDONESIAN OPERATIONAL PROGRESS Completed, added 350 Bcf of West Kerendan Exploration well contingent resource Completed should lead to a material Bangkanai Reserves Audit increase in volumes permitted to sell Expanded PoD to…
BUALUANG STEP OUT EXPLORATION PROSPECT EAST TERRACE SOUTHERN CULMINATION Multiple targets at T2, T4 & T5 levels In-place prospective resource estimate in range 5 25 MMbo c. 1 in 3 CoS Existing EIA in place Potential to drain…
SONA TRANSACTION Strategic Rationale Focus on hub positions with large equity interest, divest of stakes as move up the maturity curve Releases capital to invest in new hubs, return to shareholders, pay down debt etc Dilutes single…
VALUE ACCRETIVE DEAL 19.10 / 2P BBL V PRIOR INDUSTRY AVERAGE 11 / 2P BBL 20.0 19.1 Precedent Transactions Thai A&D Price Per 2P boe 18.0 Price Per 2P + 2C boe 16.0 Value Per Barrel (/boe) 14.0 14.6 13.6 12.0 Avg ex-SONA…
WHERE CAN SALAMANDER CREATE VALUE Production & Development Activity In 2013 salamander invested 180 MM in P&D Led to 300 MM in post tax operating cash flow Management estimates an increase in asset value of c. 100 MM Step Out…
FOCUS SWITCHES TO PORTFOLIO BUILD Field / Discovery Sinphuhorm Area, DEVELOPED / DISCOVERED RESOURCES OnshoreThailand Bualuang Area, Offshore Thailand Capital Characteristics: Operated positions Redeployed with large…
OUTLOOK Continued Operational Progress 13 15 Mboepd Forecast Completion of current Bualuang development drilling campaign Drilling of East Terrace Southern Culmination exploration well Intense Development Phase Commissioning of…
IR CONTACT Geoff Callow Head of Corporate Affairs Tel: + 44 (0)20 7432 2680 Email: geoff.callowsalamanderenergy.com www.salamander-energy.com smdrenergyplc SALAMANDER 2013 16
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