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Q3 2014 Update – Interoil Corporation

Interoil Corporation · Nov 14, 2014 · 24 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. Q3 2014 Update – Interoil Corporation – slide 1
    Q3 2014 Update For the three months ending September 30, 2014 November 14, 2014
  2. Q3 2014 Update – Interoil Corporation – slide 2
    Overview Q3 2014 LNG Development Exploration Next Milestones 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 7.1 7.5 8 8.5 9 9.5 9.9 11.8 Tcfe Funded, focused, first class Develop PNGs largest Raptor-1 flared gas and…
  3. Q3 2014 Update – Interoil Corporation – slide 3
    Elk-Antelope LNG Development Dr Michael Hession
  4. Q3 2014 Update – Interoil Corporation – slide 4
    Elk-Antelope: PNGs largest discovery to date A world-class Giant field Independent Gross 2C Resource Estimates Source (Tcfe) One of the largest gas discoveries in Asia in last 20 years GCA (P50) 7.1 Independent P50 estimates range…
  5. Q3 2014 Update – Interoil Corporation – slide 5
    Elk-Antelope: A cost-advantaged project Pnyang Project PNG LNG Elk-Antelope Field PNG LNG Gas Number of fields (Assuming base case of 2 7 1 trains) Distance to Port Moresby 690km 340km Purari River Onshore pipeline Highlands…
  6. Q3 2014 Update – Interoil Corporation – slide 6
    Elk-Antelope: High return, low cost Elk-Antelope Highlights 25% IRR% 20% Single-field, close to infrastructure and LNG markets 15% Potentially one of the lowest cost and highest returning LNG developments in the Australasia region…
  7. Q3 2014 Update – Interoil Corporation – slide 7
    Elk-Antelope: Antelope-4 Antelope-4 Appraisal well tests southern extent of Elk-Antelope field Ownership* InterOil 36.5% Total 40.1% Antelope-4 Oil Search 22.8% Minorities 0.5% Spudded September 16, 2014 IOC 75% carried by…
  8. Q3 2014 Update – Interoil Corporation – slide 8
    Elk-Antelope: Antelope-5 Antelope-5 1.7km west of Antelope-2 Appraisal well tests western extent of Elk-Antelope field Ownership* InterOil 36.5% Antelope-5 Total 40.1% Oil Search 22.8% Minorities 0.5% Expected spud: Q4 2014…
  9. Q3 2014 Update – Interoil Corporation – slide 9
    Triceratops Appraisal Background: Triceratops-3 (PRL39) The Triceratops field, renamed from the old Bwata gas field, was originally penetrated by the successful PRL39 35km north west of Elk-Antelope Bwata-1 well (1959), Triceratops-1…
  10. Q3 2014 Update – Interoil Corporation – slide 10
    Performance improvement Strengthened operations team New VP Drilling Tom Junker (Apache, ConocoPhillips) New GM Development Phil Ryles (Santos, Woodside) New GM Portfolio and Assurance Mark Graham (Schlumberger, Shell, TRACS) New GM…
  11. Q3 2014 Update – Interoil Corporation – slide 11
    Exploration Update Laurie Brown
  12. Q3 2014 Update – Interoil Corporation – slide 12
    Commanding Position: Majority ownership in emerging basin Elk-Antelope in PRL15 is PNGs largest undeveloped gas discovery PPL477 PRL39 PRL15 sits in the heart of the Eastern Papuan Basin SEEPAGE PRL15 SEEPAGE PPL475 PPL476…
  13. Q3 2014 Update – Interoil Corporation – slide 13
    Close proximity of drilling campaign; greater tie back potential Tie-Back Distance from Elk-Antelope Field Elk-Antelope Triceratops 36.5% Equity Interest Antelope-4 Spudded Field Antelope-5 exp. Q4 2014 Antelope Deep 0km 69.1% Equity…
  14. Q3 2014 Update – Interoil Corporation – slide 14
    Raptor-1 (PPL475): Notice of Discovery submitted to DPE Raptor-1 12km west of Elk-Antelope field Ownership* InterOil 65.2% Pacific Rubiales 12.9% Minorities 21.9% As of November 14, 2014 Drilled to 4,032m below rig rotary table…
  15. Q3 2014 Update – Interoil Corporation – slide 15
    Bobcat-1 (PPL476) Bobcat-1 Bobcat-1 30km north-west of Elk-Antelope field Ownership* InterOil 78.1% Minorities 21.9% As of November 14, 2014 Drilled to target depth of 3,208m Intersected around 320m of Kapau limestone…
  16. Q3 2014 Update – Interoil Corporation – slide 16
    Wahoo-1 (PPL474): Plan to resume drilling in 2015 Wahoo-1 Wahoo-1 165km north-west of Port Moresby Ownership* InterOil 78.1% Minorities 21.9% Well suspended on July 14, 2014 following safety concerns over high pressures As of…
  17. Q3 2014 Update – Interoil Corporation – slide 17
    Looking ahead: Seismic & AGG program 2014 Murua Seismic Survey Start: Q4 2014 End: Q3 2015 (3 Phases) Target: Gravity anomalies Program Length: 465km Potential to be significantly expanded Airborne Gravity Gradiometry (AGG)…
  18. Q3 2014 Update – Interoil Corporation – slide 18
    Financial Update Don Spector
  19. Q3 2014 Update – Interoil Corporation – slide 19
    Consolidated income statement Quarter ended* Nine months ended* September 30, 2014 September 30, 2013 September 30, 2014 September 30, 2014 (revised) (revised) Revenue 10,749,049 616,838 26,341,085 2,050,718 Administrative and…
  20. Q3 2014 Update – Interoil Corporation – slide 20
    Strong balance sheet AT JUNE 30, 2014 Q3 MOVEMENT SEP 30, 2014 Q3 expenditure 42m share buyback 1,000 56m expenditure on: 900 Raptor-1 42 Bobcat-1 800 56 Wahoo-1 33 700 33m other costs include: 600 585 Antelope-4 preparation…
  21. Q3 2014 Update – Interoil Corporation – slide 21
    CAPEX breakdown Total exploration drilling costs (year-to-date) Drilling costs 160 56m on exploration 56m drilling costs in Q3 2014 140 22 151m spent year-to- date on all three wells 7 54 average of 50m per 120 well 27 100 Now…
  22. Q3 2014 Update – Interoil Corporation – slide 22
    Next liquidity injection: expected 2H 2015 INDICATIVE PAYMENTS TO INTEROIL Total SA Deal USm 4,000 Closed on March 26, 2014 3,500 Fixed and contingent payments 3,000 Largest cash proportion expected at certification (expected…
  23. Q3 2014 Update – Interoil Corporation – slide 23
    Summary First Rate Team Fantastic Assets Focused Funded 200 years of E&P, LNG Commanding position in Streamlined business Liquidity of 754m available at experience in Executive emerging province end of Q3 2014 Leadership Team…
  24. Q3 2014 Update – Interoil Corporation – slide 24
    Thank You For more information, please contact: michael.lynninteroil.com Senior Vice President, Investor Relations david.wuinteroil.com Vice President, Investor Relations

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