HORIZON OIL LIMITED / ABN 51 009 799 455 RIU Good Oil Conference Brent Emmett CEO 13 & 14 September 2017
Disclaimer Statements contained in this material, particularly those regarding the possible or assumed future performance, costs, dividends, returns, production levels or rates, prices, reserves, potential growth of Horizon Oil…
Horizon Oil (ASX:HZN) snapshot Sydneybased public company listed on Australian Securities Exchange (ASX) Portfolio of exploration, development and producing assets in AsiaPacific region, with net production of 4,000 bopd, with free…
Corporate summary Shareholders Share Price vs Brent Crude vs ASX 200 Energy Index Rebased Board of Directors John Humphrey Chairman Brent Emmett Chief Executive Officer / Managing Director Gerrit de Nys Director Andrew Stock…
Horizon Oil as an investment proposition Strong, longlived production profile and cash flow Bestofpeergroup net operating cash flow from China and New Zealand, to average US50 60 million pa over the period 2017 2022, with modest…
Horizon Oil leads its peer group on net cash flow generation and profit margin Market Net Enterprise 2017 2017 EV/EBITDAX EBITDAX Company cap debt/(cash) value revenue EBITDAX multiple margin (Am) (Am) (Am) (Am) (Am) Peer 1 492…
Five year performance solid track record Good Oil Conference September 17 7
FY 2017 free cash flow (FCF) breakeven of US32/barrel provides capacity for debt repayment Continued focus on cost reduction and low opex in China drives down the breakeven price Low breakeven price provides stability in low oil…
Debt reduction trajectory continuing Horizon Oils proven, developed and producing Beibu Gulf and Maari fields provide substantial debt security in a challenging environment for small and mid cap companies to access debt The…
Beibu Gulf producing fields and future development targets WZ 612N and WZ 128W fields continue producing above forecast, currently 8,400 bopd Remaining cost recovery oil entitlement of US89.6m to be received over 2017 20,…
Beibu Gulf future development projects WZ 128E and associated fields Leased mobile production platform (MOPU) Development plan (ODP) for integrated development of WZ 128E and associated fields (audited gross 2C resources 11.1…
Beibu Gulf fields phased development approach Phased approach to development of new reserves use of existing infrastructure: reduces costs and engineering risk accelerates timeline enhances economics of fields already on stream…
Beibu Gulf production and cost recovery driving cash generation through 2022 Horizon Oils Block 22/12 production entitlement increased from 26.95% to 37% of production, following the commencement of its entitlement to…
Maari / Manaia fields New Zealand Field production currently 8,000 bopd Regular workover program to replace ESPs, clean scale and add perforations has successfully enhanced production Water injection (WI) repairs and…
Manaia Maari schematic crosssection Multiple oil accumulations on production diversify risk Potential to develop Moki zone at Manaia in future gross 2C resource 50.0 mmbo Good Oil Conference September 17 15
Papua New Guinea the regional picture PNG is a pro development jurisdiction with stable petroleum fiscal regime Rich mineral and petroleum province with a history of successful large scale resource projects delivery eg.…
Horizon Oil acreage and JV partners resource development overview Significant gas resource discovered and appraised in uncomplicated structures, with highly productive sandstone reservoirs High level of condensate and LPG…
Appraised western foreland fields concentrated resource distribution and ownership Contingent resource (2C) : 2.0 2.5 tcf gas 60 70 mmbbl condensate Horizon Oil and Repsol have a combined interest of 70% of the total resource…
Western LNG development scheme WLNG development 1.5 mtpa sales capacity Aggregated raw gas production profile 2C resources 300 250 Wellhead rate (mmscfd) 200 150 100 1C resources profile 50 1 2 3 4 5 6 7 8 9…
Development scheme selection criteria Standalone development 1.5 mtpa rightsized for appraised resource base Simple concept with lowest technical and execution risk Maximum use of standard, proven technology System uptime…
LNG demand forecast in target areas market expected to tighten from 2023 Good Oil Conference September 17 21
WLNG wellplaced to supply emerging demand areas Indonesia, South China Sea Rim, China, India Strong increase in demand forecast in emerging Asian economies, pointing to supply shortfalls from 2023 Many new entrants seeking to…
Western LNG project, PNG key points Preliminary project economics are attractive, with 20+ year plateau production for 2C gas resource and economics strengthened by significant condensate production. 520 km gas and condensate…
Outlook for financial year 2018 Financial Operating cash flows to continue at current levels as a result of continuing steady production at Maari and Beibu Gulf fields, including cost recovery production entitlement and ongoing control…
Key takeaways Existing production should continue to generate average net cash flows of US50 60 million pa until 2022, retiring debt and funding significant capital costs, before production comes off plateau, with long production…
For more information please contact: Horizon Oil Limited T: +61 2 9332 5000 Level 6, 134 William St Brent Emmett Chief Executive Officer F: +61 2 9332 5050 Woolloomooloo NSW 2011 E: infohorizonoil.com.au horizonoil.com.au Media enquiries…
Loading...
