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Oil Search Acquisition of InterOil – Oil Search Limited

Oil Search Limited · May 20, 2016 · 11 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. Oil Search Acquisition of InterOil – Oil Search Limited – slide 1
    Oil Search acquisition of InterOil: Delivering value to InterOil shareholders May 20, 2016
  2. Oil Search Acquisition of InterOil – Oil Search Limited – slide 2
    Transaction overview InterOil Corporation to be acquired by Oil Search for 8.05 Oil Search shares for each InterOil share and a Contingent Value Right (CVR) Offer Price and Share consideration implies US40.25 per InterOil share(1),…
  3. Oil Search Acquisition of InterOil – Oil Search Limited – slide 3
    Delivering compelling value for InterOil shareholders Material and Share consideration delivers immediate and material premium of 27.2% to 1 immediate premium InterOils last closing price(1) and 32.5% to InterOil 3-month VWAP(1)…
  4. Oil Search Acquisition of InterOil – Oil Search Limited – slide 4
    Material premium for InterOil Shareholders (US per share) 6.2 tcfe 6.5 tcfe 7.0 tcfe 7.5 tcfe 8.0 tcfe (1) Share Consideration 40.25 40.25 40.25 40.25 40.25 (2) CVR - Potential Value 0.00 1.81 4.84 7.86 10.88 Aggregate…
  5. Oil Search Acquisition of InterOil – Oil Search Limited – slide 5
    CVR provides ongoing exposure to resource volume upside Uncapped cash payment of US6.05 per share for each tcfe gross resource certification of PRL15 above 6.2tcfe(1) Payable on receipt of Interim Resource Payment by Oil Search under…
  6. Oil Search Acquisition of InterOil – Oil Search Limited – slide 6
    Overview of Oil Search (pre-transaction) Oil Search license interests(1) Corporate snapshot Highlights Close as of 19 May 2016(2) US/sh 4.97 Market Capitalisation(3) USm 7,568 Net Debt(3) USm 3,314 Enterprise Value(3) USm 10,882…
  7. Oil Search Acquisition of InterOil – Oil Search Limited – slide 7
    InterOil shareholders retain up to 21%(1) interest in a major independent PNG oil and gas champion Combined entity represents an attractive investment Overview of combined portfolio Highly successful existing operating business…
  8. Oil Search Acquisition of InterOil – Oil Search Limited – slide 8
    Summary InterOil to be acquired by Oil Search for 8.05 Oil Search shares for each InterOil share and a Contingent Value Right (CVR) Share consideration implies US40.25 per InterOil share(1), before CVR value Transaction metrics Oil…
  9. Oil Search Acquisition of InterOil – Oil Search Limited – slide 9
    InterOil further strengthens Oil Searchs world-class LNG position Both PNG LNG potential expansion and the Papua LNG projects Best-in-class break-even costs(1) 16 making progress while many less competitive projects being delayed 14…
  10. Oil Search Acquisition of InterOil – Oil Search Limited – slide 10
    A pathway to cooperation and potential integration of two world class LNG projects in PNG Agreements pave the way for potential material capex and opex savings plus anticipated schedule acceleration of the Papua LNG Examples of potential…
  11. Oil Search Acquisition of InterOil – Oil Search Limited – slide 11
    Total MoU: MoU between Oil Search and Total SA MoU sets out key principles: MoU expected to deliver significant value to Oil Search, Oil Search sell down to Total 60% interest acquired from InterOil InterOil and Total shareholders: in…

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