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LNG FROM PNG – Interoil Corporation

Interoil Corporation · Jan 8, 2016 · 17 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. LNG FROM PNG – Interoil Corporation – slide 1
    LNG FROM PNG Low-cost gas, close to market Goldman Sachs Energy Conference Miami & Houston 6 8 January 2016 Antelope-2
  2. LNG FROM PNG – Interoil Corporation – slide 2
    InterOil Corporation NYSE:IOC Pure play E&P in Papua New Guinea Established in 1997; listed on NYSE: IOC; incorporated in Canada Major transformation in leadership, board and strategy in past 2 years Participating in PNGs…
  3. LNG FROM PNG – Interoil Corporation – slide 3
    Major transformation in the past 2 years NEW MANAGEMENT 1st DEAL: TOTAL SA Dr Michael Hession appointed CEO Total SA acquires interest in Elk-Antelope (PRL15) OFFICES: 42 2nd DEAL: PUMA Business streamlined. Downstream assets…
  4. LNG FROM PNG – Interoil Corporation – slide 4
    New Leadership Team CEO CCO CFO GENERAL COUNSEL MICHAEL HESSION JON OZTURGUT DON SPECTOR SHEREE FORD 30 yrs experience 30 yrs experience 30 yrs experience 25 yrs experience Mega-projects, emerging provinces M&A, strategy, LNG,…
  5. LNG FROM PNG – Interoil Corporation – slide 5
    Board of Directors CHAIRMAN DEPUTY CHAIRMAN CEO AND DIRECTOR DIRECTOR EXECUTIVE DIRECTOR PNG CHRIS FINLAYSON FORD NICHOLSON MICHAEL HESSION SIR RABBIE NAMALIU ISIKELI TAUREKA 30 yrs experience 30 yrs in international oil, gas,…
  6. LNG FROM PNG – Interoil Corporation – slide 6
    Two world-class LNG projects in PNG PNG LNG ExxonMobil operated Started production in May 2014 One of the lowest-cost LNG developments globally IOC acreage InterOil acreage Papua LNG In 2014, InterOil sold 40% of PRL15…
  7. LNG FROM PNG – Interoil Corporation – slide 7
    PNGs proposed 2nd LNG project: Papua LNG PROJECT NAME PAPUA LNG PARTNERS TOTAL SA (OPERATOR), INTEROIL, OIL SEARCH KEY MARKETS JAPAN, KOREA, CHINA, TAIWAN, THAILAND EXPECTED GROSS CAPACITY* 6.9MTPA (1bcfe per day) GROSS CAPEX*…
  8. LNG FROM PNG – Interoil Corporation – slide 8
    Low cost, high return Source: Wood Mackenzie, unlevered IRR (Aug 2015) Source: Wood Mackenzie, Aug 2015. Cost to Japan with 10% return (/mmbtu) Levered IRR assuming 70% financing implies 20% IRR 10 10
  9. LNG FROM PNG – Interoil Corporation – slide 9
    Why LNG from PNG Global LNG demand and supply balance MTPA 700 Papua LNG expected first gas 600 500 400 Current oversupply is short term 300 200 Source: Post Courier, 16 October 2015 100 Jul 2014: Japans Prime Minister visits…
  10. LNG FROM PNG – Interoil Corporation – slide 10
    1. Find oil and gas safely Elk-Antelope discovery In 2006, the Elk field was discovered in PRL15 In 2008, the Antelope field was discovered following appraisal of the Elk field Antelope is one of the largest gas discoveries…
  11. LNG FROM PNG – Interoil Corporation – slide 11
    Elk-Antelope appraisal positive results so far Intersected top reservoir 36m higher than Ant-4 Antelope High-quality dolomite over 182m intersection A6 4 ST Up to 25% porosity A5 Gas-water contact potentially lower W E…
  12. LNG FROM PNG – Interoil Corporation – slide 12
    Antelope-5 test analysis supports two trains Antelope-5 downhole pressure data from deepest gauge 3rd rate Initial pressure of 50 mmscfd Final flow rate Final shut-in pressure 3,536.185 psia* 2nd rate 12 hr flow of 3,536.124 psia*…
  13. LNG FROM PNG – Interoil Corporation – slide 13
    2. Enable with right partner and funding INDICATIVE PAYMENTS TO INTEROIL FROM TOTAL SA FOR PRL15 In March 2014, InterOil USm 4,000 sold 40.1% of PRL15 to Total SA 3.5bn 3,500 Farm-down a mixture of 517 carry, fixed and variable…
  14. LNG FROM PNG – Interoil Corporation – slide 14
    3. Develop with a material interest in a producing asset PRL 15 Ownership (pre-Government back-in) INTEROILS STRATEGY * * * Notes: Based on analyst assumption of 16bn total CAPEX *Qualified reserves auditors GLJ: GLJ…
  15. LNG FROM PNG – Interoil Corporation – slide 15
    Other discoveries Triceratops Bobcat Raptor Discovered Discovered Discovered 2012 2014 2014 18 18
  16. LNG FROM PNG – Interoil Corporation – slide 16
    High equity in other discoveries makes strategy repeatable 36.5% Bobcat PPL476 Elk Triceratops PRL39 36.5% Antelope Elk-Antelope 78.6% Raptor PRL15 Bobcat PPL475 78.1% Triceratops 79.1% Raptor Source: IOC…
  17. LNG FROM PNG – Interoil Corporation – slide 17
    Operating in PNG and the Eastern Papuan Basin Political stability Fiscal stability Gentle to moderate terrain Open labor market PNG: a proven LNG exporter 20 20

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