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2014 Results and 2015 Outlook – Cooper Energy Limited

Cooper Energy Limited · Aug 18, 2014 · 31 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. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 1
    Bungaloo-1, Otway Basin
  2. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 2
    Webcast http://event.on24.com/r.htme=830422&s=1&k=674DE1C2F46781B08CFBD05CFA1CD96C Conference call Conference ID number: 8107 0716 Australia: Toll free: 1800 123 296 International dial- in Toll: + 61 2 8038 5221 - (can be used…
  3. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 3
    1. Cooper Energy has had its best year yet with its strongest financial and production results and substantially increased resources. 2. The base ingredients for the gas strategy are in place and execution is accelerating. We have…
  4. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 4
    Revenue of 72.3 million, up 35% Net profit after tax 22.0 million up from 1.3 million Underlying net profit after tax of 25.3 million, up from 12.7 million Cash and investments of 75.1 million up from 68.1 million Safety…
  5. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 5
    million unless otherwise indicated FY 14 FY13 Production MMbbl 0.59 0.49 20% Sales volume MMbbl 0.58 0.48 21% Oil price average AUD/bbl 124.08 112.31 10% Sales revenue 72.3 53.4 35% Other revenue 2.8 2.3 22% Net profit after tax…
  6. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 6
    million +6.9 +1.7 -2.5 +0.5 -2.6 -3.4 25.3 +12.0 12.7 FY13 Sales revenue - Sales revenue - Cost of Sales Other revenue Offices & salaries1 Other costs Tax expense FY14 volume price 1. Salaries net of recharges 7
  7. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 7
    million 81.0 32.4 1.4 98.2 49.3 Total cash & Total cash & 0.3 investments: 75.1 investments: 68.1 Investments at Investments at fair value 26.0 fair value1 20.2 Cash & deposits 47.9 0.1 0.3 49.1 Cash & deposits Cash from…
  8. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 8
    0.05 0.59 0.52 0.02 0.54 0.49 0.47 0.49 0.46 0.41 Indonesia Cooper Basin FY09 FY10 FY11 FY12 FY13 FY14 FY13 FY14 FY14 production of 0.59 MMbbl vs initial guidance of 0.54 0.58 MMbbl Cooper Basin: some production was…
  9. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 9
    12 month rolling Lost Time Injury Frequency Rate FY14 LTIFR of 0.8 from 1.75 at June 13 APPEA and Cooper Energy Hours worked increased 148% 2.5 increased from 0.48 to 1.19 million hours 1 lost time injury for year: allergic reaction…
  10. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 10
    Conventional exploration wells spudded Seismic acquired and processed Number million invested 10 4.6 8 3.7 6 6 2.5 4 3 1.5 .06 2010 2011 2012 2013 2014 2015P 2010 2011 2012 2013 2014 FY14 exploration featured reduced oil…
  11. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 11
    Proved & Probable (2P) reserves Contingent Resources (2C) MMbbl MMboe 2.16 17.0 0.59 0.45 2.01 Tunisia 18.0 Gippsland Basin Cooper Basin 5.7 30-Jun-13 0 Production 0 Revisions 30-Jun-14 30-Jun-13 30-Jun-14 Reserves1…
  12. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 12
    Oil production up 17% increased from 0.46 MMbbl to 0.54 MMbbl Patchawarra Formation oil pool discovery at Worrior 3 unsuccessful exploration wells Dundinna seismic survey (PELs 90, 100 & 110) acquired to target drilling in northern…
  13. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 13
    Expanded acreage coverage of Penola Trough traded 35% PEL 495 for 30% PEL 494 & PRL 32 zero net cost to Cooper Energy Jolly-1 and Bungaloo-1 deep wells confirmed location of Casterton Formation unconventional play identified deep…
  14. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 14
    Acquired 65% interest and operatorship at low cost 1 million initial payment and 5 million conditional on hydrocarbon production Sub-sea infrastructure in place from previous life as oil project with gas injection Pre-acquisition…
  15. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 15
    Reserves determination Basker & Manta - existing 1C 2C 3C - 3rd party gas Contingent Resource1 (P90) (P50) (P10) - exploration (100% JV) Gas Bcf1 63 104 181 Optimum Funding development Liquids MMbbls 4 7 11 concept Total MMboe…
  16. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 16
    Annual production increased from 25 kbbls to 55 kbbls Successful workovers Tangai-1 increased water disposal capacity Tangai-3 (August 14) increased production and 2 new horizons successfully tested Farmout prospective Merangin III…
  17. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 17
    Element FY14 results Advancing in FY15 through: Record FY14 production Drilling on 3D seismic in PEL 100,100 and PEL 92 Limited oil exploration drilling unsuccessful Worrior appraisal Strong cash generating oil Dundinna seismic in…
  18. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 18
    1 Otway Tunisia Cooper Basin 5 Indonesia 2 Cooper Basin 100,110 Indonesia 3 4 Cooper Basin PEL 92 Gippsland Otway FY14 FY15 Plan million Cooper 7 Gippsland 6 Otway 1 Indonesia 7 Tunisia 3 Total exploration 24 19
  19. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 19
    Expenditure Wells 0.59 Total Exp. Dev. Exp Dev 0.52 0.49 0.50 0.56 Australia 0.41 Cooper Basin 15 7 10 9 6 Otway Basin 1 1 - - - Gippsland Basin 6 6 - - - Indonesia 13 7 6 1 2 Tunisia 1 3 3 - - - Total 40 24 16 10 8 FY11…
  20. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 20
    Cooper Energy commences FY15 in a strong financial position with cash and financial assets exceeding 75 million and bank facilities Production guidance for FY15 of 500 560 MMbbls has the company set for its second highest annual output…
  21. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 21
  22. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 22
    Reconciliation of statutory and underlying profit PEL 92 conversion to Retention Leases FY14 major activities program Presenters Petroleum reserves Contingent resources Abbreviations 23
  23. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 23
    million 12 months ending 30 June 2014 2013 Net profit after tax 22.0 1.3 Adjusted for: Impairment of exploration assets held for sale 0.2 0.4 Impairment of available for sale investments 3.1 0.0 PRRT deferred tax asset derecognised/…
  24. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 24
    The PEL 92 Joint Venture has been granted 20 Petroleum Retention Licences (PRLs 85 -104) covering the entire 1,884 km2 area of what was previously PEL 92. PRLs 85-104 were granted for 5 year terms, all commencing 6 June 2014, with the…
  25. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 25
    Location License Operator Sept Qtr Dec Qtr March Qtr June Qtr Carryover wells and reprocessing in H1. 4 PEL 92 Beach Reprocessing exploration wells, 3 development wells in H2 Cooper PEL 90, 100,110 Senex 5 exploration wells PPL…
  26. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 26
    Petroleum Reserves as at 30 June 2014 MMbbl Proved, Probable & Proved (1P) Proved & Probable (2P) Possible (3P) Cooper Basin 0.71 1.54 2.61 Indonesia 0.14 0.47 0.81 Total 0.85 2.01 3.42 Note: Reserves include Cooper Energys share of…
  27. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 27
    Contingent Resources as at 30 June 2014 MMboe 1C 2C 3C Cooper Basin 0.0 0.01 0.03 Gippsland Basin (BMG) 10.8 18.0 30.6 Tunisia (Hammamet West & Tazerka) 9.0 17.0 39.5 Total 19.8 35.1 70.1 Note: The Contingent Resource assessment…
  28. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 28
    Presenters David P. Maxwell Jason de Ross Managing Director Chief Financial Officer Andrew Thomas David Maxwell joined Cooper Energy in Jason de Ross joined Cooper Energy in Exploration Manager September 2011, bringing over 25 years…
  29. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 29
    bbls barrels of oil boe barrel of oil equivalent bopd barrel of oil per day EBITDA earnings before interest, tax, depreciation and amortisation kbbls thousand barrels LTIFR Lost Time Injury Frequency Rate. Lost Time Incidents per million…
  30. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 30
    Website: cooperenergy.com.au Investor relations: Don Murchland +61 439 300932 donmcooperenergy.com.au Address: Cooper Energy Limited Level 10 Waymouth St Adelaide SA 5000 + 61 8 8100 4900 31
  31. 2014 Results and 2015 Outlook – Cooper Energy Limited – slide 31

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