Delivering a Balanced E&P Company Investor Presentation, August 2016
Strategy Delivering Value From a Balanced Portfolio Significant growth opportunities within balanced portfolio that is sustainable and self funding to create shareholder value Material discoveries and prospectivity in Africa…
Finance Group Funding Continued strong focus on cost discipline Non-core E&A expenditure deferred Capex costs for future production base reduced Lower cost environment for all exploration services Funded for current forward…
Finance H1 2016 Cashflow USm Pre-award costs and E&A capex 603 69 20 6 87 7 414 Opening Senegal UK / Norway International Kraken Admin, Financial, FX Closing Cash / Other Development and Other Capital Cash 6 Investor…
Finance Group Funding to End 2017 USm Existing sources of capital Current uses of capital 260 Kraken operating cashflow 100m assuming on-stream April 2017, forward curve 44/bbl 30 45 Catcher on-stream H2 2017, ramping up 2018…
Finance Future Production Base - Kraken First oil H1 20171 Plateau production 50,000 boepd (Net to Cairn 15,000 boepd) Acquired additional 4.5% bringing Cairns total working interest to 29.5% FPSO hull conversion nearing…
Finance Future Production Base - Catcher First oil H2 20171 Plateau production 50,000 boepd (Net to Cairn 10,000 boepd) Six wells successfully drilled: reservoir quality and flow rates met or exceeded expectations Subsea…
Finance Significant Capex Reductions Secured Capex reduced, postponed and cancelled since June 2015 Capex reductions delivered for the period to YE 2017 m 300 250 (56) 71 200 92 150 226 100 40 39 50 40 0 UK…
Exploration and Appraisal - Senegal Notional Development Scenario Development expenditure Dependent on concept solution and 1,800 120 scale of resources 1,600 Preliminary analysis based on 100 12-15/bbl1 (previous 17-26/bbl)…
Exploration and Appraisal - Senegal Economic Scenarios: 2C Standalone SNE Field 50% 20 May 2015 10% return breakeven at FID, Guidance oil…
Exploration and Appraisal - Senegal Highly Competitive Project Project breakeven price benchmarking Breakeven Oil Price, /bbl Indicative 2C SNE development 13 Investor Presentation, August 2016
Exploration and Appraisal Block Area 7,137 km2 Cairn (Operator) 40% ConocoPhillips3 35% Senegal Overview Water Depth: FAR 15% and 100 2,000m PETROSEN 10% Current Licences Oil Discovery 2014 2016 six wells drilled Gas Cap…
Exploration and Appraisal - Senegal Evaluation Programme N BEL-1 SNE-2 SNE-1 SNE-3 SNE-4 S Aim is to confirm volumes, connectivity and productivity SNE: four wells successfully completed Upper Zone Upper Zone DST DST Flowrate 1a…
Exploration and Appraisal - Senegal SNE Increasing Resource Base Post SNE-21 (March 2016) Post SNE-42 (August 2016) STOIIP (mmbbls) STOIIP (mmbbls) 1C 1290 2C 2360 3C 4155 1C 1860 2C 2740 3C 4150 Contingent Resource (mmbbls)…
Exploration and Appraisal - Senegal Exploration Potential Current Licences Further gross mean risked resource Carbonate Platform Edge Prospects, Leads and Discoveries potential on remaining Senegal acreage Oil Discovery Gas Cap…
Exploration and Appraisal - Senegal Exploration Potential - Shelf Area: Sirius Prospect 0 1 2 3 4 5 km 800m water depth W E Sirius Prospect 9 km north of Bellatrix (BEL-1) Reservoirs Prospective in stacked Upper Upper…
Exploration and Appraisal - Senegal Exploration Potential - Basin Play and Prospect Schematic FAN-1 Albian Delta-Fed Ramp with channel levee complexes Basin Prospect 1,800m water depth Coeval Stacked turbidite fan R channel levee…
Senegal - Planning for Development Third Phase of Drilling 2016 / 2017 HSSE remains high priority; aim to build on good performance in 2015 / 2016 Drilling focused on some, or all, of: Deliverability of reservoir units not yet tested…
Senegal - Planning for Development From Discovery to Development Evaluation programme to confirm volumes, connectivity and productivity Further appraisal activity to improve definition of project in terms of scale Preliminary…
Senegal - Planning for Development SNE Development Within Industry Technology Capability Field CATCHER KRAKEN CHINGUETTI SNE JUBILEE BAOBAB TEN AZURITE DALIA PSVM PERDIDO STONES First Oil 2017 2017 2006 2021 - 2023 2012 2005 2016 2009…
Senegal - Planning for Development Development Conceptual Engineering Pre-engineering studies for SNE field development underway with established engineering house Reservoir and Wells basis of design (BoD) established Project at…
Senegal - Planning for Development Conceptual Development Well Planning 15 - 20 wells drilled prior to first oil, with ongoing development drilling during production Around 2/3rds targeting the upper reservoirs, 1/3rd in lower…
Exploration Portfolio Cairn in UK and Norway Strong Portfolio Norwegian Sea Current Licences 23rd Round APA 2015 7 exploration licences, 37 licences, 3 operated 1 operated (APA2015) 2 drill/drops Feb 2017 UK Klara discovery…
Exploration Portfolio Creating Growth Through Exploration Significant acreage positions with technical and commercial Geological Focus value Range of opportunities with appropriate spectrum of risk Seeking low cost options for…
Strategic Delivery Significant growth opportunities within balanced portfolio Create Material and growing resource base in Value Explore Discover Senegal Invest Acquire Balance sheet strength with substantial cash flow from…
Contacts David Nisbet Paula Pratt Group corporate affairs Investor relations co-ordinator E-mail: E-mail: david.nisbetcairnenergy.com paula.prattcairnenergy.com Tel: +44 (0)7711 146 068 Tel: +44 (0)131 475 3094…
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