Clean Energy For the Future Dana Gas Investors Presentation 2Q 2016 Financial Results 11 August 2016 www.danagas.com 1
Presentation Outline Performance Highlights Finance Update Country Performance Egypt Kurdistan Region of Iraq UAE - Zora Gas Project Summary www.danagas.com 3
Performance Highlights Dr Patrick Allman-Ward Chief Executive Officer www.danagas.com 4
H1 2016 - Headlines Strong production 66,650 barrels of oil equivalent First half net profit of 13 million 100 million in cash collections; 344 million in the bank Mocha-1 spudded in May; prospect with potential multi-TCF…
Financial Performance Chris Hearne Chief Financial Officer www.danagas.com 6
Financial Highlights: Q2 2016 Change - (In million) Q2 2016 Q2 2015 % Change million Gross Revenue 96 116 (20) (17) Gross Profit 20 37 (17) (46) Net Profit 7 7 - - EBITDA 41 47 (6) (13) Net profit on par with Q2 2015 at 7 million.…
Profit After Tax Bridge Q2 2016 (USD million) Zora Gas Field adds 8 million as disposal of 5% interest in PPCL results in a revenue loss. Decrease in operating cost and G&A due to cost optimizations across the Group Increase in…
Profit After Tax Bridge H1 2016 (USD million) The decline in revenue due to production was offset by start of production from Zora field in UAE Royalty & tax declined by 16% - linked to production and profitability in Egypt…
Production Performance (BOEPD) Rounded to nearest hundred Q2 2016 Vs Q2 2015 2016 2015 1H 2016 Vs 1H 2015 Includes 750 boepd Includes Gas Includes 750 boepd Includes Gas (2Q2015 650 boepd) Production of 18,300 (1H 2015 600…
Average Realized Prices Q2 2016 Vs Q2 2015 1H 2016 Vs 1H 2015 2016 2015 www.danagas.com 12
Trade Receivables (all figures in USD million) Dana Gas Egypt KRI Pearl Petroleum (35%) Receivable - 230 million Receivable - 246 million Receivable - 221 million Receivable - 726 million Receivable - 793 million Receivable - 727…
Capital Expenditure (all figures in USD million) DGE U.A.E. 1H 2016 1H 2015 1H 2016 1H 2015 Increase in GPEA programme UAE completed construction and commissioning activities in Zora Reducing spend as fewer major capital…
Liquidity & Liability Cash & bank balance Outstanding Sukuk 500 800 470 750 700 400 344 600 350 350 300 400 200 400 350 100 200 30 June 2016 31 December 2015 30 June 2016 31 December 2015 9% Ordinary Sukuk 7% Exchangeable…
Country Performance Egypt, KRI and UAE Iman Hill Technical Director & GM UAE and Egypt www.danagas.com 16
Egypt: Nile Delta Operations El Wastani Development Leases Onshore acreage consisting of 14 Development Leases in the prolific Nile Delta region SWEW-1 Production Q2 2016 average is 36.6 kboe/d versus Q2 2015 of 33.0 kboe/d.…
Egypt: Nile Delta Operations El Wastani Projects 4 wells (South Faraskur-5, South Faraskur-6, SAEN-7 and West Manzala-3) have been tied into the existing gathering system. The 17 km 12 inch trunk line from Balsam to El Wastani…
Egypt: Balsam Western Horst Update: Balsam-5 Following the success of Balsam-3 well, Balsam- 5 has been drilled into the same accumulation as a production acceleration well. The well has proven a gas water contact which was…
Egypt: South West EL Wastani Discovery SWEW-1 South West El Wastani discovery well has proved up the play on this previously undrilled downthrown terrace This is a separate hydrocarbon filled structure from El Wastani Field…
Egypt: West El Manzala-3 Discovery WEM-3 WEM-3 discovery well has proved up the play in the Abu Madi Formation. This separate hydrocarbon filled structure increases the resource base in this development lease by an incremental…
Egypt: Block 1 - North El Salheya Exploration Block-1 (100% WI) Targets the prolific Abu Madi and Kafr El Sheikh plays. Activities Reprocessing of 800 km2 3D seismic Western Geco completed and loaded to workstation.…
Egypt: Block 3 - El Matarya Exploration Block-3 (Dana Gas 50% WI) BP is operating Block-3 as 50/50 partner and is targeting the deeper, high potential Oligocene play which is proven in the offshore Nile Delta. Mocha-1 Mocha-1…
Egypt: Block 6 North El Arish Offshore Update Block-6 (100% WI) 1782 km2 of full fold 3D seismic acquired. 3D seismic processing completed in January 2016. Substantial and material prospect inventory emerging in the…
Egypt Summary The Company collected USD 49 million in 1H 2016 realizing 84% of the periods revenue. Period end total receivables are 230 million compared to 221 million at 31 December 2015. The Company continued to deliver the Gas…
Kurdistan Operations Q2 2016 Iman Hill Technical Director and GM UAE & Egypt www.danagas.com 26
Operations in Kurdistan Region of Iraq DG share of production averaged 26,100 boepd during Q2 2016. Gross production details are as follows: o 313 ( Q2 2015: 316) MMscfd of natural gas o 13,472 (Q2 2015: 13,830) bbl/d of…
UAE Operations - Zora Gas Project Update Iman Hill Technical Director and GM UAE & Egypt www.danagas.com 28
Zora Operations progress The Zora gas plant has been in continuous production since February 2016. Current production is approximately 16,000 mmbtu gas and 200 bbl/day of condensate. The plant operation is limited by the ability…
Summary Dr Patrick Allman-Ward Chief Executive Officer www.danagas.com 30
Summary Steady progress in terms of production, operations, cost control and financial stability Increase production: Balsam Field in Egypt the core driver Profitable even under the current prevailing low price Finances under…
Reach us: Dana Gas P. O. Box 2011, Sharjah, UAE www.danagas.com Direct : +971 6 519 4444 Fax : +971 6 556 6522 www.danagas.com
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